Driving the Market: Examining the Demand, Share, and Size of UAE Electric Vehicle

Driving the Market: Examining the Demand, Share, and Size of UAE Electric Vehicle

A recent report by MarkNtel Advisors reveals that the UAE Electric Vehicle Market is expected to grow at a compounded annual growth rate (CAGR) of approximately 28.5% during 2023-28. The report provides a detailed understanding of the industry, including key drivers, challenges, opportunities, and latest trends. It also examines the competitive landscape & recent advancements made by leading companies operating in the industry, along with their range of product/service offerings, growth strategies, and presence in different regions/countries.

Our experts have used both primary & secondary research methods to gather accurate and comprehensive information about the UAE Electric Vehicle Market. The study also covers potential growth barriers to the market and highlights untapped opportunities while providing recommendations for stakeholders to prepare for unexpected situations that may arise in the future. The report considers historical data from 2023-28 as the starting point and provides forecasts for the years 2023 to 2028. All market values presented are in USD Million/Billion.

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Goals of the UAE Electric Vehicle Market Research Study

·        To provide valuable insights into aspects like drivers, challenges, opportunities, threats that impact the growth of the UAE Electric Vehicle Market

·        To have a complete understanding of the value chain through Porter's five forces model

·        To identify positioning of major participants in the UAE Electric Vehicle Market, along with their competitive advancements like collaborations, mergers & acquisitions, new product releases, and investments in research & development.

·        To provide thorough information to stakeholders on growth opportunities in fast-growing segments

Market Dynamics

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.

Recent Developments

·        In July 2022, the RIT (Rochester Institute of Technology) Dubai signed an agreement with ONE MOTO to expand the use of electric motorbikes in the last-mile delivery & logistics sectors, in line with the UAE’s Net Zero 2050 strategy.

·        The same year in March, M Glory Holding Group opened a new $408 million electric vehicle manufacturing unit in Dubai with an aim to produce 55,000 EVs a year in view of the dramatically rising demand for green mobility in the emirate.

A Detailed Analysis of Major Segments Driving the UAE Electric Vehicle Market Growth

In this section, the report explores the UAE Electric Vehicle Market's dynamic landscape, dissected into multiple segments and sub-segments, along with pivotal factors propelling industry growth, to help stakeholders optimize their positioning, target audience, and revenue tactics.

Based on Vehicle Type

- Passenger Vehicles

- Two Wheelers

- Commercial Vehicles

Based on Power Source

- Battery Electric Vehicle (BEV)

- Plug-In Hybrid Electric Vehicle (PHEV)

- Hybrid Electric Vehicle (HEV)

Based on Battery Type

- Lithium-Ion Battery

- Lithium Titanate Oxide (LTO)

Geographically, the UAE Electric Vehicle Market expands across:

- Dubai

- Al Ain & Abu Dhabi

- Sharjah & Northern Emirates

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Note: The UAE Electric Vehicle Market research report can be tailored as per individual client needs, providing comprehensive & valuable insights at various levels. This personalized approach enables clients to understand the industry's true potential, effectively tackle growth challenges, devise effective strategies, and make well-informed decisions to maintain a competitive edge in the industry.

UAE Electric Vehicle Market Research Report: Key Questions Addressed

·        What is the estimated size, share, & CAGR of the UAE Electric Vehicle Market during 2023-28?

·        Which segments & sub-segments are considered most prevalent in the UAE Electric Vehicle Market research study?

·        What are the major regions/countries would offer remunerative prospects to the key players in the UAE Electric Vehicle Market?

·        What are the geographical trends and recent developments in the UAE Electric Vehicle Market?

·        Which products/services would witness rapidly growing demand in the UAE Electric Vehicle Market through 2028?

A Detailed Assessment of Major Companies in the UAE Electric Vehicle Market and their Key Growth Strategies

The competitive landscape section of the report unveils the top players in the UAE Electric Vehicle Industry, their financials, resources, product offerings, market share, strategic initiatives, R&D investments, strengths, & weaknesses. All the findings & hypothesis on the market ecosystem have been carefully validated through a detailed Porter's five forces analysis.

Companies like,

- Renault Group

- Tesla

- Chevrolet


- Hyundai Motor Company

- Nissan Motor Corporation

- Ford Motor Company

- Porsche Middle East & Africa

- Toyota Motor Corporation

- Ashok Leyland

- Volvo Bus Company

- One Moto

- Others

often involve in collaborations for joint venture programs & resource sharing to achieve their objectives efficiently.

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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.

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