Inquire Before Buying - GCC Electric Vehicle Market | Growth Rate, Development, and Coming Trends

GCC Electric Vehicle Market Research Report: Forecast (2023-2028)

By Vehicle Type (Electric Cars, Two Wheelers, Trucks, Buses, Others (Three wheelers, etc.,)), 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), By Country (The UAE, Saudi Arabia, Qatar, Oman, Bahrain, Kuwait, Rest of GCC), By Company (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) Read more

Automotive
May 2023
Pages 148
Report Format: PDF, Excel, PPT

Market Definition

Electric Vehicles (EVs) are vehicles powered by electric motors & energy stored in batteries. These vehicles involve low running costs, less maintenance, and are highly eco-friendly as they do not use fossil fuels. With various measures to mitigate pollution, shifts in consumer preferences, subsidies for EV buyers by the governments of major GCC countries, EVs show immense potential to hamper the demand for fossil fuels around the region in the coming years.

Market Insights

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.

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.

Report Coverage	Details
Study Period	Historical Data: 2018-21
	Base Year: 2022
	Forecast Period: 2023-28
Regions Covered	The UAE, Saudi Arabia, Qatar, Oman, Bahrain, Kuwait, Rest of GCC
Key Companies Profiled	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
Unit Denominations	USD Million/Billion

Besides, the UAE & Qatar are making notable efforts toward adopting Green Mobility solutions by introducing several policies to promote sustainable transportation through EVs. Additionally, Saudi Arabia, in 2021, unveiled its first zero-carbon city, The Line, at NEOM, which is in line with its Saudi Vision 2030 national development program. Hence, the pointers cited above indicate the significant extension of the Electric Vehicle Market in the GCC region through 2028.

Market Drivers

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.

Market Segmentation
Introduction
1. Product Definition
2. Research Process
3. Assumptions
Executive Summary
GCC Government Initiatives for Adoption of Electric Vehicle, By Country
GCC Electric Vehicle Market Trends & Insights
GCC Electric Vehicle Market Dynamics
1. Growth Drivers
2. Challenges
GCC Electric Vehicle Market Hotspot & Opportunities
GCC Electric Vehicle Charging Infrastructure Development, By Country
GCC Electric Vehicle Market Policies & Regulations
GCC Electric Vehicle Market Analysis, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousands)
2. Market Share & Analysis
  1. By Vehicle Type
    1. Two Wheeler
    2. Passenger Car
    3. Commercial Vehicle
  2. By Propulsion Type
    1. Battery Electric Vehicle (BEV)
    2. Plug-In Hybrid Electric Vehicle (PHEV)
    3. Hybrid Electric Vehicle (HEV)
  3. By Battery Type
    1. Lithium-Ion Battery
    2. Lithium Titanate Oxide
  4. By Capacity
    1. Upto 40kWh
    2. 40-70 kWh
    3. Above 70-100 kWh
    4. Above 100 kWh
  5. By Range
    1. Short Range (Up to 240 km)
    2. Mid-Range (240-400km)
    3. Long Range (Above 400km)
  6. By Country
    1. The UAE
    2. Saudi Arabia
    3. Qatar
    4. Oman
    5. Bahrain
    6. Kuwait
  7. By Company
    1. Competition Characteristics
    2. Revenue Shares & Analysis
The UAE Electric Vehicle Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousands)
2. Market Share & Analysis
  1. By Vehicle Type
  2. By Propulsion Type
  3. By Battery Type
  4. By Capacity
  5. By Range
3. Top 3 Electric Vehicle Models, By Vehicle Type
Saudi Arabia Electric Vehicle Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousands)
2. Market Share & Analysis
  1. By Vehicle Type
  2. By Propulsion Type
  3. By Battery Type
  4. By Capacity
  5. By Range
3. Top 3 Electric Vehicle Models, By Vehicle Type
Qatar Electric Vehicle Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousands)
2. Market Share & Analysis
  1. By Vehicle Type
  2. By Propulsion Type
  3. By Battery Type
  4. By Capacity
  5. By Range
3. Top 3 Electric Vehicle Models, By Vehicle Type
Oman Electric Vehicle Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousands)
2. Market Share & Analysis
  1. By Vehicle Type
  2. By Propulsion Type
  3. By Battery Type
  4. By Capacity
  5. By Range
3. Top 3 Electric Vehicle Models, By Vehicle Type
Bahrain Electric Vehicle Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousands)
2. Market Share & Analysis
  1. By Vehicle Type
  2. By Propulsion Type
  3. By Battery Type
  4. By Capacity
  5. By Range
3. Top 3 Electric Vehicle Models, By Vehicle Type
Kuwait Electric Vehicle Market Outlook, 2018-2028F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousands)
2. Market Share & Analysis
  1. By Vehicle Type
  2. By Propulsion Type
  3. By Battery Type
  4. By Capacity
  5. By Range
3. Top 3 Electric Vehicle Models, By Vehicle Type
GCC Electric Vehicle Market Key Strategic Imperatives for Success & Growth
Competition Outlook
1. Competition Matrix
  1. Product Portfolio
  2. Target Markets
  3. Target End Users
  4. Manufacturing Units
  5. Research & Development
  6. Strategic Alliances
  7. Strategic Initiatives
2. Company Profiles (Business Description, Product Offering, Business Segments, Financials, Strategic Alliances or Partnerships, Future Plans)
  1. Tesla, Inc.
  2. One Moto
  3. Vmoto Soco
  4. Hyundai Motor Company
  5. MG Motors
  6. Bayerische Motoren Werke (BMW) AG
  7. General Motors Company
  8. Groupe Renault
  9. Nissan Motor Company Ltd.
  10. Mercedes-Benz
  11. Porsche
  12. Volvo Cars
  13. Others
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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