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Middle East Electric Vehicle Market (2022-2028): Trends, Size, Share, Revenue, Analysis, Forecast, Value, Growth, Industry, Outlook: Market Forecast By Vehicle Types, By Countries and by Competitive Landscape

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    Report

  • 113 Pages
  • June 2024
  • Region: Middle East
  • 6W Research
  • ID: 5125664
Description Jump to:

Middle East Vehicle market witnessed steady growth during 2021 owing to government efforts of the Middle East countries to reduce the dependence on oil and facilitate the adoption of electric vehicles to reduce automobile emissions for meeting net zero targets set by the Middle East countries. The market is estimated to experience improved demand for electric cars from the passenger vehicles segment owing to a high preference for luxury cars offered by brands such as Tesla, Lucid, BMW, among others. Government projects and policies are also affecting electric vehicle market’s growth and are estimated to upkeep the growth over the near future. 

According to this research, the Middle East electric vehicle market size grew at a CAGR of 28.9% during 2022-2028. Oil is one of the country's key sources of revenue, however, new renewable energy and sustainable transportation technologies are aiding the country's economic growth. The government strategies of the Middle East countries intend to lessen dependency on oil and diversify the economy while implementing a variety of reforms. As a result, the push to increase electric car sales would elevate the demand for efficient charging systems thus, boosting the electric vehicle industry.

Market Analysis By Vehicle Types

Passenger cars dominated the Middle East electric vehicle market in terms of revenue and volume during the year 2021 and a similar trend is expected to continue in the forthcoming years. The industry is innovative and constantly growing due to changing mobility needs and concepts, increasing demand for eco-friendly and efficient transportation, and improving technology. In recent years, a number of OEMs announced their intention to enhance their footprint in the Middle East electric vehicle industry.

Market Segmentation by Countries

By countries, UAE garnered the highest share in the Middle East Electric vehicle market majorly owing to incentive schemes such as free charging facilities and free of cost parking in regions such as Dubai and Abu Dhabi. On account of the presence of all major brands such as Tesla, BMW, Volkswagen, and General Motors, among others and the high preference for expensive automobiles driven by high-income of individuals is also expected to drive the future growth of the UAE electric vehicle market.

Key Attractiveness of the Report

  • 6 Years Market Numbers.
  • Estimated Data Starting from 2022F to 2028F.
  • Base Year: 2021
  • Forecast Data until 2028F.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report

  • Middle East Electric Vehicle Market Overview
  • Middle East Electric Vehicle Market Outlook
  • Middle East Electric Vehicle Market Forecast
  • Historical Data and Forecast Middle East Electric Vehicle Market Revenues and Volume for the Period 2018-2028F
  • Historical Data and Forecast of Middle East Electric Vehicle Market Revenues and Volume, By Vehicle Types, for the Period 2018-2028F
  • Historical Data and Forecast of Middle East Electric Vehicle Market Revenues and Volume, By Countries, for the Period 2018-2028F
  • Market Drivers and Restraints
  • Industry Life Cycle
  • Porter’s Five Force Analysis
  • Impact Analysis of COVID-19
  • Market Trends
  • Middle East Vehicle Market Revenue Ranking, By Companies
  • Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations
  • Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Vehicle Types

  • Passenger Cars
  • Two Wheelers
  • Commercial Vehicles

By Countries

  • Saudi Arabia
  • UAE
  • Qatar
  • Kuwait
  • Oman
  • Bahrain

Table of Contents


1. Executive Summary
2. Introduction
2.1 Report Description
2.2 Key Highlights of the Report
2.3Market Scope and Segmentation
2.4 Research Methodology
2.5 Assumptions

3. Middle East Electric Vehicle Market Overview
3.1 Middle East Electric Vehicle Market Revenues and Volume (2018-2028F)
3.2 Middle East Electric Vehicle Market Industry Life Cycle
3.3 Middle East Electric Vehicle Market Porter’s Five Forces Model
3.4 Middle East Electric Vehicle Market Revenue and Volume Share, By Vehicle Types (2021E & 2028F)
3.5 Middle East Electric Vehicle Market Revenue Share, By Countries (2021E & 2028F)

4. Impact Analysis of COVID-19 on Middle East Electric Vehicle Market
5. Middle East Electric Vehicle Market Dynamics
5.1 Impact Analysis
5.2 Market Drivers
5.3 Market Restraints

6. Middle East Electric Vehicle Market Trends & Evolution
7. Saudi Arabia Electric Vehicle Market Overview
7.1 Saudi Arabia Electric Vehicle Market Revenues and Volume (2018-2028F)
7.2 Saudi Arabia Electric Vehicle Market Revenue and Volume Share, By Vehicle Types (2021E & 2028F)
7.3 Saudi Arabia Electric Vehicle Market Revenues and Volume, By Vehicle Types (2018-2028F)
7.3.1 Saudi Arabia Electric Vehicle Market Revenues and Volume, By Passenger Cars (2018-2028F)
7.3.2 Saudi Arabia Electric Vehicle Market Revenues and Volume, By Commercial Vehicles (2018-2028F)
7.3.3 Saudi Arabia Electric Vehicle Market Revenues and Volume, By Two Wheelers (2018-2028F)
7.4 Saudi Arabia Electric Vehicle Market - Key Performance Indicators
7.5 Saudi Arabia Electric Vehicle Market - Opportunity Assessment
7.6 Saudi Arabia Electric Vehicle Market Revenue Share/Ranking, By Companies (2021E)

8. UAE Electric Vehicle Market Overview
8.1 UAE Electric Vehicle Market Revenues and Volume (2018-2028F)
8.2 UAE Electric Vehicle Market Revenue and Volume Share, By Vehicle Types (2021E & 2028F)
8.3 UAE Electric Vehicle Market Revenues and Volume, By Vehicle Types (2018-2028F)
8.3.1 UAE Electric Vehicle Market Revenues and Volume, By Passenger Cars (2018-2028F)
8.3.2 UAE Electric Vehicle Market Revenues and Volume, By Commercial Vehicles (2018-2028F)
8.3.3 UAE Electric Vehicle Market Revenues and Volume, By Two Wheelers (2018-2028F)
8.4 UAE Electric Vehicle Market - Key Performance Indicators
8.5 UAE Electric Vehicle Market - Opportunity Assessment
8.6 UAE Electric Vehicle Market Revenue Share/Ranking, By Companies (2021E)

9. Qatar Electric Vehicle Market Overview
9.1 Qatar Electric Vehicle Market Revenues and Volume (2018-2028F)
9.2 Qatar Electric Vehicle Market Revenue and Volume Share, By Vehicle Types (2021E & 2028F)
9.3 Qatar Electric Vehicle Market Revenues and Volume, By Vehicle Types (2018-2028F)
9.3.1 Qatar Electric Vehicle Market Revenues and Volume, By Passenger Cars (2018-2028F)
9.3.2 Qatar Electric Vehicle Market Revenues and Volume, By Commercial Vehicles (2018-2028F)
9.3.3 Qatar Electric Vehicle Market Revenues and Volume, By Two Wheelers (2018-2028F)
9.4 Qatar Electric Vehicle Market - Key Performance Indicators
9.5 Qatar Electric Vehicle Market - Opportunity Assessment
9.6 Qatar Electric Vehicle Market Revenue Share/Ranking, By Companies (2021E)

10. Kuwait Electric Vehicle Market Overview
10.1 Kuwait Electric Vehicle Market Revenues and Volume (2018-2028F)
10.2 Kuwait Electric Vehicle Market Revenue and Volume Share, By Vehicle Types (2021E & 2028F)
10.3 Kuwait Electric Vehicle Market Revenues and Volume, By Vehicle Types (2018-2028F)
10.3.1 Kuwait Electric Vehicle Market Revenues and Volume, By Passenger Cars (2018-2028F)
10.3.2 Kuwait Electric Vehicle Market Revenues and Volume, By Commercial Vehicles (2018-2028F)
10.3.3 Kuwait Electric Vehicle Market Revenues and Volume, By Two Wheelers (2018-2028F)
10.4 Kuwait Electric Vehicle Market - Key Performance Indicators
10.5 Kuwait Electric Vehicle Market - Opportunity Assessment
10.6 Kuwait Electric Vehicle Market Revenue Share/Ranking, By Companies (2021E)

11. Oman Electric Vehicle Market Overview
11.1 Oman Electric Vehicle Market Revenues and Volume (2018-2028F)
11.2 Oman Electric Vehicle Market Revenue and Volume Share, By Vehicle Types (2021E & 2028F)
11.3 Oman Electric Vehicle Market Revenues and Volume, By Vehicle Types (2018-2028F)
11.3.1 Oman Electric Vehicle Market Revenues and Volume, By Passenger Cars (2018-2028F)
11.3.2 Oman Electric Vehicle Market Revenues and Volume, By Commercial Vehicles (2018-2028F)
11.3.3 Oman Electric Vehicle Market Revenues and Volume, By Two Wheelers (2018-2028F)
11.4 Oman Electric Vehicle Market - Key Performance Indicators
11.5 Oman Electric Vehicle Market - Opportunity Assessment
11.6 Oman Electric Vehicle Market Revenue Share/Ranking, By Companies (2021E)

12. Bahrain Electric Vehicle Market Overview
12.1 Bahrain Electric Vehicle Market Revenues and Volume (2018-2028F)
12.2 Bahrain Electric Vehicle Market Revenue and Volume Share, By Vehicle Types (2021E & 2028F)
12.3 Bahrain Electric Vehicle Market Revenues and Volume, By Vehicle Types (2018-2028F)
12.3.1 Bahrain Electric Vehicle Market Revenues and Volume, By Passenger Cars (2018-2028F)
12.3.2 Bahrain Electric Vehicle Market Revenues and Volume, By Commercial Vehicles (2018-2028F)
12.3.3 Bahrain Electric Vehicle Market Revenues and Volume, By Two Wheelers (2018-2028F)
12.4 Bahrain Electric Vehicle Market - Key Performance Indicators
12.5 Bahrain Electric Vehicle Market - Opportunity Assessment
12.6 Bahrain Electric Vehicle Market Revenue Share/Ranking, By Companies (2021E)

13. Middle East Electric Vehicle Market - Price Trend Analysis
14. Middle East Electric Vehicle Market Competitive Landscape
14.1 Middle East Electric Vehicle Market Competitive Benchmarking, By Operating Parameters

15. Company Profiles
15.1 Nissan Motor Co, Ltd.
15.2 Tesla, Inc.
15.3 Hyundai Motor Company
15.4 Toyota Motor Corporation
15.5 The Volkswagen AG
15.6 General Motors Company
15.7 Lucid Group, Inc.,
15.8 Zhengzhou Yutong Bus Co. Ltd.
15.9 BMW Group
15.10 MG Motors

16. Key Strategic Recommendations17. Disclaimer
List of Figures
1. Middle East Electric Vehicle Market Revenues and Volume, 2018-2028F ($ Million, Units)
2. Middle East Electric Vehicle Market Revenue Share, By Vehicle Types, 2021E & 2028F
3. Middle East Electric Vehicle Market Volume Share, By Vehicle Types, 2021E & 2028F`
4. Middle East Electric Vehicle Market Revenue Share, By Countries, 2021E & 2028F
5. GDP Share of Oil and Gas Sector in Middle East, 2020
6. PM2.5 concentration in Middle East countries, 2020
7. Electric car battery prices, 2015-2025F, USD/kWh
8. Saudi Arabia Electric Vehicle Market Revenues and Volume, 2018-2028F ($ Million, Units)
9. Saudi Arabia Electric Vehicle Market Revenues and Volume, 2018-2028F ($ Million, Units)
10. Saudi Arabia Electric Vehicle Market Volume Share, By Vehicle Types, 2021E & 2028F
11. Total Imports of Motor Vehicles in Saudi Arabia, 2017-2020 ($ Thousand)
12. Distribution of EV Connectors in 2021
13. Saudi Arabia Electric Vehicle Market Opportunity Assessment, By Vehicle Types, 2028F
14. Saudi Arabia Electric Vehicle Market Revenue Ranking, By Companies, 2021E
15. UAE Electric Vehicle Market Revenues and Volume, 2018-2028F ($ Million, Units)
16. UAE Electric Vehicle Market Revenue Share, By Vehicle Types, 2021E & 2028F
17. UAE Electric Vehicle Market Volume Share, By Vehicle Types, 2021E & 2028F
18. Distribution of EV Connectors in 2021
19. UAE Electric Vehicle Market Volume Opportunity Assessment, By Vehicle Types, 2028F
20. UAE Electric Vehicle Market Revenue Ranking, By Companies, 2021E
21. Qatar Electric Vehicle Market Revenues and Volume, 2019-2028F ($ Thousand, Units)
22. Qatar Electric Vehicle Market Revenue Share, By Vehicle Types, 2021E & 2028F
23. Qatar Electric Vehicle Market Volume Share, By Vehicle Types, 2021E & 2028F
24. Distribution of Connectors in 2021
25. Qatar Electric Vehicle Market Opportunity Assessment, By Vehicle Types, 2028F
26. Qatar Electric Vehicle Market revenue Ranking, by companies, 2021E
27. Kuwait Electric Vehicle Market Revenues and Volume, 2018-2028F ($ Thousand, Units)
28. Kuwait Electric Vehicle Market Revenue Share, By Vehicle Types, 2021E & 2028F
29. Kuwait Electric Vehicle Market Volume Share, By Vehicle Types , 2021E & 2028F
30. Kuwait Motor Vehicle Sales Growth, 2018-Q1 2021 (in %)
31. Distribution of Connectors in 2021
32. Kuwait Electric Vehicle Market Opportunity Assessment, By Vehicle Types, 2028F
33. Kuwait Electric Vehicle Market Revenue Ranking, By Companies, 2021E
34. Oman Electric Vehicle Market Revenues and Volume, 2021E-2028F ($ Thousand, Units)
35. Oman Electric Vehicle Market Revenue Share, By Vehicle Types, 2021E & 2028F
36. Oman Electric Vehicle Market Volume Share, By Vehicle Types , 2021E & 2028F
37. Oman Motor Vehicle Sales Growth, 2017-2019 (in %)
38. Oman Total Registered Vehicles by Vehicle Type, 2020-2021 (August-November)
39. Distribution of Connectors in 2021
40. Oman Electric Vehicle Market Opportunity Assessment, By Vehicle Types, 2028F
41. Oman Electric Vehicle Market Revenue Ranking, By Companies, 2021E
42. Bahrain Electric Vehicle Market Revenues and Volume, 2021E-2028F ($ Thousand, Units)
43. Bahrain Electric Vehicle Market Revenue Share, By Vehicle Types, 2021E & 2028F
44. Bahrain Electric Vehicle Market Volume Share, By Vehicle Types, 2021E & 2028F
45. Bahrain Motor Vehicle Sales, 2015-2019
46. Distribution of Connectors in 2021
47. Bahrain Electric Vehicle Market Opportunity Assessment, By Vehicle Types, 2028F
48. Bahrain Electric Vehicle Market Revenue Ranking, By Companies, 2021E
49. Saudi Arabia Electric Vehicle Market Price Trend Analysis, By Vehicle Types($), 2018-2028F
50. UAE Electric Vehicle Market Price Trend Analysis, By Vehicle Types($), 2018-2028F
51. Qatar Electric Vehicle Market Price Trend Analysis, By Vehicle Types, 2018-2028F
52. Kuwait Electric Vehicle Market Price Trend Analysis, By Vehicle Types, 2018-2028F
53. Oman Electric Vehicle Market Price Trend Analysis, By Vehicle Types, 2018-2028F
54. Bahrain Electric Vehicle Market Price Trend Analysis, By Vehicle Types, 2018-2028F

List of Tables
1. Emission targets and carbon emission by Middle East countries in 2020
2. Fuel prices in different countries, 2021
3. Saudi Arabia Electric Vehicle Market Revenues, By Vehicle Types, 2018-2028F ($ Million)
4. Saudi Arabia Electric Vehicle Market Volume, By Vehicle Types, 2018-2028F (Units)
5. UAE Electric Vehicle Market Revenues, By Vehicle Types, 2018-2028F ($ Million)
6. UAE Electric Vehicle Market Volume, By Vehicle Types, 2018-2028F (Units)
7. Qatar Electric Vehicle Market Revenues, By Vehicle Types, 2019-2028F ($ Thousand)
8. Qatar Electric Vehicle Market Volume, By Vehicle Types, 2019-2028F (Units)
9. Kuwait Electric Vehicle Market Revenues, By Vehicle Types, 2018-2028F ($ Thousand)
10. Kuwait Electric Vehicle Volume, By Vehicle Types, 2018-2028F ($ Thousand)
11. Oman Electric Vehicle Market Revenues, By Vehicle Types, 2021E-2028F ($ Thousand)
12. Oman Electric Vehicle Market Volume, By Vehicle Types, 2021E-2028F (Units)
13. Bahrain Electric Vehicle Market Revenues, By Vehicle Types, 2021E-2028F ($ Thousand)
14. Bahrain Electric Vehicle Market Volume, By Vehicle Types, 2021E-2028F (Units)

Companies Mentioned

  • Nissan Motor Co, Ltd.
  • Tesla, Inc.
  • Hyundai Motor Company
  • Toyota Motor Corporation
  • The Volkswagen AG
  • General Motors Company
  • Lucid Group, Inc.,
  • Zhengzhou Yutong Bus Co. Ltd.
  • BMW Group
  • MG Motors

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About the Electric Vehicles Market

Electric Vehicles (EVs) are a type of vehicle that runs on electricity, either from a battery or fuel cell. EVs are part of the larger category of electric and hybrid vehicles, which also includes hybrid electric vehicles (HEVs) and plug-in hybrid electric vehicles (PHEVs). EVs are powered solely by electricity, while HEVs and PHEVs combine an internal combustion engine with an electric motor. EVs are becoming increasingly popular due to their environmental benefits, as they produce no tailpipe emissions and require less energy to operate than traditional vehicles. EVs are available in a variety of forms, from cars and buses to motorcycles and scooters. They are becoming increasingly affordable, with many models now available at prices comparable to traditional vehicles. Governments around the world are also offering incentives to encourage the adoption of EVs, such as tax credits and subsidies. Some of the major companies in the EV market include Tesla, Nissan, BMW, Volkswagen, and General Motors. Other companies, such as BYD, are also making significant investments in the EV market. Show Less Read more

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