GCC Electric Vehicle Market Poised for Robust Growth, Forecasted 2023-28
According to a new study by MarkNtel Advisors, the GCC Electric Vehicle Market is expected to grow at an exponential rate through 2028. The market growth primarily owes to the growing concerns over future energy savings, greenhouse gas emissions, and surging economies in the GCC region, owing to the massive consumption of fossil fuels and the ever-increasing traffic congestions.
Report Coverage
This report offers a comprehensive analysis of the GCC Electric Vehicle Market, providing valuable insights across historical trends, current dynamics, and future forecasts.
- Base Year: 2022
- Forecast Years: 2023-28
- Historical Years: 2018-21
GCC Electric Vehicle Market Overview
The introduction of EVs, particularly across Saudi Arabia & the UAE, is expected to be a promising option to address rampant environmental pollution & future economy-related fears. In this regard, the governments of the member countries are taking initiatives and proposing a set of policies, enabling these countries to pace up their efforts and achieve the intended Green House Gas (GHG) emission reduction goals.
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GCC Electric Vehicle Market Segmentation Outlook
The GCC Electric Vehicle is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:
By Vehicle Type
- Two Wheeler
- Passenger Car
- Commercial Vehicle
By Propulsion Type
- Battery Electric Vehicle (BEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
- Hybrid Electric Vehicle (HEV)
By Battery Type
- Lithium-Ion Battery
- Lithium Titanate Oxide
By Capacity
- Upto 40kWh
- 40-70 kWh
- Above 70-100 kWh
- Above 100 kWh
By Range
- Short Range (Up to 240 km)
- Mid-Range (240-400km)
- Long Range (Above 400km)
By Country
- The UAE
- Saudi Arabia
- Qatar
- Oman
- Bahrain
- Kuwait
GCC Electric Vehicle Market Driver
Rising Government Support to Support the Adoption of EVs– The mounting support from the governments of the member countries in the region through various initiatives & programs toward curbing the prevailing environment pollution and diversifying the economic resources by reducing dependency on oil is the prime factor anticipated to drive the GCC Electric Vehicle Market in the forecast period.
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Top GCC Electric Vehicle Market Brands & Their Strategic Market Positioning
MarkNtel Advisors Research identifies Tesla, Inc., Nissan Motor Company, Ltd., Hyundai Motor Company, Volkswagen Motor Company LTM, General Motors Company, Groupe Renault, Rivian Automotive, Inc. , Fisker Inc, MG Motor, BYD Auto, Others as key players shaping the market landscape.
Key Questions Answered in the Report
- What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
- How the industry has been evolving, and which segments would dominate the market during the forecast period?
- What are the key opportunity areas that companies foresee in the coming years 2028?
- Who are the key players in the market, and what are their competitive strengths?
- What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?
Need tailored data? We offer customized forecasts by region, product segmentation, and competitive intelligence upon request — now with an exclusive special pricing offer – Customized Link –
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