DUBLIN–(BUSINESS WIRE)–The “United Arab Emirates Electric Vehicle Charging Equipment Market Outlook to 2026: Driven by Government Support and Incentives with Growing Focus on Delivering a Green and Sustainable Economy” report has been added to from ResearchAndMarkets.com offer.
The UAE is the second largest automotive market in the Gulf Cooperation Council (GCC) after Saudi Arabia due to population growth and high disposable income. The demand for vehicles in the country comes mainly from the construction, infrastructure, logistics, tourism and public transport sectors which have made the emirate a major exporter and re-exporter of vehicles. The transport sector is one of the largest contributors to CO2 emissions in the UAE, second only to the industrial sector. Incentives offered by the government, banks and car dealerships have also led to the growth of imports of electric vehicles from the UAE and increased environmental awareness among citizens. Sales of battery electric vehicles grew at a CAGR of around 49% in 2017 and 2021.
Overview of Electric Vehicle Charging Equipment Industry in UAE:
The electric vehicle charging equipment market grew at a CAGR of around 42% from 2017 to 2021, growing at a growth rate of around 63% in 2021 from 2020. UAE is driven by growing government efforts to reduce carbon footprint. in the country. The emirates of Dubai lead the country with the maximum number of charging stations installed to date and several implementation plans towards the development of electric mobility. Manufacturers are focusing more on developing new technologies such as self-parking, lithium-ion batteries, wireless charging, and ultra-fast DC charging networks to improve the adoption of electric vehicles.
Competitive Landscape in UAE Electric Vehicle Charging Market
Currently, competition in the electric vehicle charging space in the UAE is monopolistic in nature, with the Dubai Electricity and Water Authority (DEWA) spearheading the installation and operation of the charging infrastructure. electric vehicle charging in Dubai, which has the majority of electric vehicle chargers in the United Arab Emirates. Although it was not explicitly stated that the private sector would take the initiative to operate the EV charging infrastructure once it becomes commercially viable through large-scale adoption of EVs, there are is expected to do so because of the trends observed in this sector in several countries. Competition is expected to increase in the coming years for the reasons mentioned above.
Drivers and barriers to growth:
The cost of purchasing an EV is decreasing every year due to the scaling up of existing technology through efficient production, which has a cascading effect on the development of EV charging infrastructure at worldwide. The relatively small size of the country would automatically reduce range anxiety for most citizens, as most cities and towns would be easily covered by almost any electric vehicle on a single charge.
One of the problems preventing the commercialization of electric vehicles is the high purchase cost, which is an important factor in developing and underdeveloped countries. Since the UAE has a per capita income comparable to that of developed countries, the effects of the aforementioned problem are largely mitigated. The electric vehicle charging market in the United Arab Emirates is driven by the growing government efforts to reduce the carbon footprint in the country.
Key segments covered in the UAE Electric Vehicle Charging Equipment industry
Electric Vehicle Charging Market Size by Revenue
Revenue from new car sales
Revenue by demand for chargers by type of charging stations
UAE EV Charging Equipment Segmentation by:
Type of Chargers – AC and DC Chargers
Charging type – home charging, private charging and public charging
Vehicle type – 2W and 4W
Geographic Demand – Dubai, Abu Dhabi, Sharjah, Fujairah, Ajman, Umm Al Quwain, Ras Al Khaimah
Sales Channels – Direct Sales, Online Sales and Resellers/Distributors
Main topics covered:
2. Market Overview of Electric Vehicle Charging Industry in United Arab Emirates
3. Market Size of Electric Vehicle Charging Industry in United Arab Emirates
4. UAE Electric Vehicle Charging Equipment Industry Market Segmentation, FY2021
5. Industry Analysis of United Arab Emirates Electric Vehicle Charging Equipment Market
6. Product analysis
7. Price analysis
8. UAE EV Market Competitive Analysis
9. Case Study
10. Future Outlook and Industry Projections, to 2026
11. Analyst Recommendations
12. Research Methodology
Yin Long Energy
For more information on this report, visit https://www.researchandmarkets.com/r/y1uyex