Gurugram, India, July 19, 2022 (GLOBE NEWSWIRE) --
- The UAE EV Charging Equipment Market is anticipated to grow at a CAGR of 35.5% during the forecast period FY’21-FY’26.
- Government support and incentives are expected to give a boost to numerous entities that facilitate EV Charging Equipment manufacturing in the country.
- Dubai has defined a target of having 10% electric or hybrid vehicles on its roads by 2030. The motive behind this target is green economy as the Government of UAE intends to enhance the R&D.
High Disposable Income
UAE is the second largest automotive market in the Gulf Cooperation Council (GCC) after Saudi Arabia owing to the growing population and high disposable income. With fast economic growth and rapid urbanization in UAE, it is projected that more people will acquire a personal vehicle for mobility. The transportation sector is one of the most significant contributors to CO2 emissions in UAE, second to the industrial sector.
Rapid Future Growth
UAE Electric Vehicle Charging Equipment Market is expected to grow at a CAGR of 35.5% during 2021 and 2026. Also UAE Electric Vehicle Market size is estimated to grow at a CAGR of 36.7% during 2021-2026.
25% of the people in UAE are waiting for more EV options to be launched. One of their key initiatives is under the Dubai Autonomous Transportation Strategy, which aims to transform 25% of the transportation in Dubai to autonomous mode by 2030.
Focus on Clean Energy
Adoption of clean energy strategies by the country as a part of UAE’s vision 2030 and focus on achieving net zero emissions by 2050 would also stimulate the market growth in the years to come. A six-year plan seeks to raise the proportion of hybrid and electric taxis in the fleet from the existing 50% to 80% by 2025 and achieve the ultimate target of 100% by 2027.
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The Smart Dubai initiative adopted by the government focusing on the conversion of the country into a smart city by the year 2030 is further expected to boost the UAE electric vehicle charging infrastructure market Share.
Investment from Government
Further, an investment of around USD 163.3 Billion has been passed by the government for the development of smart cities in the country and the government is continuously working towards turning the transport industry fully electric by the year 2030.
Due to high government budgets and high quality of public services provided by local as well as national governments in the UAE, there is a huge opportunity for companies to create and operate EV charging services in the long run, a process which is currently being spearheaded by the Dubai Electricity and Water Authority (DEWA), but will soon open to other private companies.
The publication titled ‘UAE Electric Vehicle Charging Equipment Market Outlook to 2026: Driven by government support and incentives with the increasing focus to achieve green and sustainable economy’ covers the overview of EV Charging Equipment Industry by analyzing historical EV Charging statistics and corresponding change in Middle Affluent Class in UAE. Charging Equipment Industry is expected to grow at a CAGR of 35.5%during 2021 and 2026.
The report also focuses on UAE EV Charging Equipment Industry segmentation by Type of Charging, Type of Chargers, Type of Vehicle, Type of Geography, and By Sales Channels. The EV Charging section of the report concludes with projections for the future of the industry included forecasted total EV Charging Equipment revenue by 2026, and analysts’ take on the future highlighting major opportunities.
Key Segments Covered in UAE EV Charging Equipment Industry:-
EV Charging Market Size by
- Revenue
- Revenue through new car sales
- Revenue through demand of chargers by type of charging stations
UAE EV Charging Equipment Industry By
- Type of Chargers- AC and DC chargers
- Type of Charging- Home Charging, Private Charging, and Public Charging
- Type of Vehicle- 2W and 4W
- Geographic Demand- Dubai, Abu Dhabi, Sharjah, Fujairah, Ajman, Umm Al Quwain, Ras Al Khaimah
- Sales Channels- Direct Sales, Online, and Dealers/ Distributors
- Domestic Manufacture and Import
Product Analysis
- 4W Chargers
Pricing Analysis
- 4W Chargers pricing
- 2W Chargers pricing
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Key Target Audience:-
- Electricity Supplier
- EV Manufacturers
- EV Charging Equipment Manufacturers
- EV Charging System Operator
- Demand side Transport Operators
- Government Bodies
Time Period Captured in the Report:-
- Historical Period: 2017-2021
- Forecast Period: 2022-2026F
EV Charging Equipment Players in UAE
- ABB
- Schneider Electric
- Siemens
- Yinlong Energy
- Eaton UAE
- Grizzl E
- Elecvlife
Key Topics Covered in the Report:-
- Electric Vehicle Charging vehicle Companies in UAE
- Overview of EV Market and EV Charging Equipment Market in UAE
- Ecosystem of EV Charging Equipment Market in UAE
- Market Size of EV Charging Equipment Market in UAE (Total EV Charging Equipment Revenue)
- UAE EV Charging Equipment Market Segmentation (By Type of Charging, Type of Chargers, Type of Vehicle, Type of Geography, By Sales Channels)
- Cross comparison of top players in the EV Charging Equipment Market in UAE
- Company Profiles of EV Charger Manufacturers (Overview, Products, Business Streams, Manufacturing Capabilities, Distribution Channels, Recent Projects, Cost Structure, and Awards and Recognitions)
- Growth Drivers and Challenges to UAE EV Charging Equipment Industry
- Industry trends and developments
- SWOT Analysis of EV Market
- Porters Five Forces of the EV Industry in UAE
- Rules and Regulations by Government Bodies
- Future Outlook of Industry
- Case Study (DEWA, EESL, Alfen)
- UAE EV Charging Equipment Market Revenue
- UAE Electric Vehicle Market Sales
- UAE Battery vehicles Market
- UAE Battery vehicles Market Sales
- UAE Electric scooter Market Revenue
- UAE Electric Taxi Market Growth
- UAE EV Charging Equipment Market Revenue
- Electric vehicle charging infrastructure
- EV Charging Infrastructure Value Chain
- UAE Electric Vehicle Supplier
- Electric Vehicle Manufacturers in UAE
- EV Charging Equipment Manufacturers in UAE
- UAE Electric vehicle charging equipment
- 4 Wheelers Electric Vehicle Market
- 2 Wheelers Electric Vehicle Market
- EV Charging System Operator
- Electric Vehicle Chargers Sales
- Demand side Transport Operators
- Electric Vehicle Charging vehicle Companies in UAE
- Electric Vehicle Charger Manufacturers in UAE
- EV Charger Manufacturers in UAE
- EV Charger Manufacturing Companies in UAE
For More Information, refer to below links:-
UAE Electric Vehicle Charging Equipment Market
Related Reports:-
India, the world's 6th largest economy by nominal GDP and the 3rd largest by PPP, is characterized as a middle-income developing market economy. 2- and 3- Wheelers that account for close to 50% share dominate the Indian urban mobility modal share. EVs are slowly gaining traction with less than 2% of vehicles deployed as EVs in India. The charging infrastructure in India is currently quite under-developed with as many as 26 EVs per charger available in the country, compared to only 8 in China and 17 in the US. There are ~300 community charging stations in India, of which 22 were fast-charging points in 202. However, India EV Charging Equipment Market gained significant momentum after the implementation of the FAME India scheme. The Department of Heavy Industry (DHI) also planned to incentivize 1,000+ charging stations with 6,000+ chargers, which is the major growth driver for the market. Lack of Space, Infrastructure, and Manpower for Setting-Up along with High Initial Cost of Charging Equipment and Installation are the major challenges in India EV Charging Equipment Market.
Indonesia is the fourth largest country in the world, with a population of nearly 250 million people. With fast economic growth and rapid urbanization in Indonesia, it is projected that more people will acquire a personal vehicle for mobility. The transportation sector is one of the most significant contributors to CO2 emissions in Indonesia, second to the industrial sector. In 2019, Presidential Regulation Number 55 Year 2019 regarding the Acceleration Program for Battery Electric Vehicles for Road Transportation was enacted. This regulation acts as the legal umbrella for Indonesian electric vehicle development and creates a domino effect for several ministries to start electric vehicle (EV) projects in Indonesia. The Battery Electric Vehicles sales grew at a CAGR of 719% during 2017 and 2021.
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