UAE Electric Vehicle Market Is Expected Significant Growth in the Near Future

According to the latest market research report title “UAE Electric Vehicle Market 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)), By Region (Dubai, Al Ain & Abu Dhabi, Sharjah & Northern Emirates)–Forecast to 2030″, published by MarkNtel Advisors, The UAE Electric Vehicle Market is expected to grow at a CAGR of around 28.5% during the forecast period, i.e., 2024-30.

The data present in the report exhibit from the historic years (2019-22) and the base year (2023) to put together estimations for the forecast period (2024-30). In the study, our researchers put together reliable, unbiased, and accurate data to enlighten investors about fluctuations in the industry & anticipations on what to expect in the future. Since the industry is dynamic and highly fragmented, this report enables the prominent players to make strategic moves associated with their investments in the coming years.

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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.

UAE Electric Vehicle Market Segmentation

The UAE Electric Vehicle Market is highly robust and fragmented into numerous segments;

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)

By Region

-Dubai

-Al Ain & Abu Dhabi

-Sharjah & Northern Emirates

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Key Players Operating 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

Key Questions Answered:

• What is the projected CAGR of the UAE Electric Vehicle Market during the forecast period?
• Which segment is expected to lead the UAE Electric Vehicle Market?
• Who are the prominent players driving market growth?

Key Offerings:

• Market Share, Size, and Revenue Forecast
• Market Dynamics: Growth drivers, restraints, investment opportunities, and key trends
• Landscape: Leading key players and other prominent participants

About MarkNtel Advisors

MarkNtel Advisors is a leading research, 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.

Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.

We understand the mounting & diverse needs of our clients. Hence, our analysts focus on emerging industries to provide services that fulfilled their assessment of the current & future industry potential, identify white spaces & hotspots, & venture into new geographies or business segments in the future.

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