UAE Electric Vehicle Market’s Resilient Growth at 28.5% CAGR Forecasted till 2030

Market Overview: UAE Electric Vehicle Market

MarkNtel Advisors, leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on UAE Electric Vehicle Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.

UAE Electric Vehicle Market Insights 2024-30

The UAE Electric Vehicle Market is estimated to grow at a CAGR of around 28.5% during the forecast period 2024-30.

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Driving Innovation: Exploring the UAE Electric Vehicle Market and its Key Drivers

UAE Electric Vehicle Market Key Driver: Active Government Efforts Toward Attaining Carbon Neutrality

In order to achieve carbon-zero targets and diversify the economy away from the overburdened oil & gas sector, the UAE government is taking various initiatives toward raising awareness among citizens about the benefits of electric vehicles and providing them with tax redemption or rebate. Hence, more & more people are shifting towards more automated & technologically updated electric vehicles, given the rising fuel prices and growing concerns over environmental degradation, thereby driving the UAE Electric Vehicle Market.

Top Players in the UAE Electric Vehicle Market:

Renault Group, Tesla, Chevrolet, BMW AG, Hyundai Motor Company, Nissan Motor Corporation, Ford Motor Company, Porsche Middle East & Africa, Toyota Motor Corporation, Ashok Leyland, Volvo Bus Company, One Moto, Others

UAE Electric Vehicle Industry Recent Development:

In July 2022, the RIT (Rochester Institute of Technology) Dubai signed an agreement with ONE MOTO to expand the use of electric motorbikes in the last-mile delivery & logistics sectors, in line with the UAE’s Net Zero 2050 strategy.
In March 2022, M Glory Holding Group opened a new USD408 million electric vehicle manufacturing unit in Dubai with an aim to produce 55,000 EVs a year in view of the dramatically rising demand for green mobility in the emirate.

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Segmentation Analysis of UAE Electric Vehicle Market

UAE Electric Vehicle Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.

By Vehicle Type

-Passenger Vehicles

-Two Wheelers

-Commercial Vehicles

By Power Source

-Battery Electric Vehicle (BEV)

-Plug-In Hybrid Electric Vehicle (PHEV)

-Hybrid Electric Vehicle (HEV)

By Battery Type

-Lithium-Ion Battery

-Lithium Titanate Oxide (LTO)

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A Comprehensive Geographical Analysis:

By Region

-Dubai

-Al Ain & Abu Dhabi

-Sharjah & Northern Emirates

Dubai holds the largest share of the UAE Electric Vehicle Market, and the same trend is likely during 2024-30.

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About Us

MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.