EV Charging Equipment Market is expected to expand at a CAGR of 34.2% during 2021 and 2026 in UAE: Ken Research

 1. The UAE has spearheaded the promotion and adoption of Electric vehicles (EV) to diversify its economy away from oil

For more information, request a free sample

The UAE leads the Middle East and North Africa (MENA) in the adoption of electric vehicles to diversify its economy from oil.

Approximately 30% of UAE residents would consider buying an electric vehicle to contribute to narrowing emissions.

A similar percentage believe that EVs offer much better value for money in the longer run than conventional cars running on petrol or diesel.

2. Public Charging through AC Chargers is the most preferred choice of charging in the UAE for the year 2021 contributing to more than 80% of the market

Visit this Link Request for custom report

• Dubai Electricity & Water Authority (DEWA) is providing free charging for all Electric Vehicles at public charging stations in UAE
• Home Charging captured lower share of the market followed by Private Charging with negligible market share due to high capital Investment.
• Public Charging method contributed highest revenue in 2021 constituting more than 75% of the market share.

3. The UAE Electric Vehicle Charging Equipment Market relies heavily on Imports accumulating more than 90% of the revenue share

To more about industry trends, Request a free Expert call

• Electric Vehicle Charging Equipment revenue can be segmented into Domestic Manufacture, Domestic Assembly and Imports.
• In this category, imports clearly dominate the sector by contributing more than 90% of the market in the year 2021.
• This is due to the fact that UAE relies heavily on the imports of electric vehicles and its parts.
• Promoting itself as a country committed to a low-carbon and sustainable economy, the UAE has an ambitious goal to boost its EV market in the next 20 years.

4. The EV Green Charger initiative, launched by Dubai Electricity and Water Authority (DEWA), provides a network of electric vehicle chargers across Dubai

• The EV Green Charger initiative, launched by Dubai Electricity and Water Authority (DEWA), provides a network of electric vehicle chargers across Dubai.
• This initiative supports Dubai efforts to provide innovative and sustainable transport solutions as part of the Dubai Green Mobility Strategy 2030.
• EV Green Chargers are smart units which are connected through a Charge Point Management System (CPMS) with status and locations of chargers available via the DEWA website and smart app.
• Customers may also start and end their charge cycles via a card-less customer experience by following the steps on their mobile device once they scan the QR code available at the charging station.

Charging infrastructure in India is currently quite under-developed but has huge potential in the near future owing to increasing EV deployment in the country: Ken Research

 1. Infrastructure for EV charging has been gaining pace in recent times, owing to increasing EV adoption, especially in Metro cities.

For more information, request a free sample

EV charger demand in India witnessed an increase this year owing to tenders announced by PSUs, which put together amounts to about 6,000 charging stations by 2023. Attractive capital subsidy are provided by state government for deployment of limited number of fast and slow EV chargers.

Low utilization rate of public charging stations has been identified as deterring investor and charge point operators in expanding their fleets. However, with increased EV usage by commercial fleet operators and private buyers, the utilization rates are expected to increase in the coming years.

2. E Rickshaws, E Autos, and E 2Ws are the most promising segments for electrification in India and are expected to account for more than 4 million units by 2025

Visit this Link Request for custom report

Electrification in India will be primarily driven by Government incentives (FAME II) and state Government’s push for cleaner fuels. There is a growing need for clean and shared transportation. Therefore stringent emission norms with higher cost of compliance (internal combustion engines) are being apprehended. With newer business models lowering operational cost of EV’s the future is fulfilling for EV business.

3. While public entities are holding a major share in the market, private companies and new entrants are also doing exceptionally well.

To more about industry trends, Request a free Expert call

It is anticipated that the bulk of private E-4W charging would be from home chargers while the commercial E-4W would prefer public charging, thereby generating maximum revenue share. Players in the market are covering a wide spectrum of vehicles, while providing charging units in different capacities and great customer experience. There are regional and national players namely – Volttic, Charge+Zone, TATA Power, Fortum, EESL, EVI Technologies. The dominant player in the market namely EESL has the highest no. of charging stations and also charging stations to mid-segment companies like EVI Technologies.

UAE Electric Vehicle Charging Equipment Market 2022: Research by Business Analysis, Key Manufacturers, Growth Strategy, Industry Trends and Forecast to 2026: Ken Research

The UAE Electric Vehicle market is currently in its early stage and witnessed certain growth during the period 2017-2021 owing to the Electric Vehicle (EV) Green Charger initiative undertaken by the government of UAE. As of June 2021, the number of electric vehicle sales in UAE totalled xx units. This total includes xx hybrid models, xx PHEV units, and xx BEV units. When viewed from the total sales of cars in UAE in the first semester of 2021, the interest in the electric vehicle market is at xx% of total cars sold. These figures shows that the UAE EV sector is still in its infancy.

The number of 4W Battery Electric Vehicles (BEV) increased from xx in 2017to xx in 2021 at a CAGR of xx%. Electric Vehicles remain relatively slow during 2021 also because there was a shortage of semiconductor. As of 2021, there are xx units of Battery Electric Vehicles on road in UAE. There has been an increased and integrated usage of the Battery based electric vehicles into the industrial perspective of operations.

Overview of EV Charging Equipment Industry in UAE

Market Size: The revenue of EV Charging Equipment market grew at a CAGR of xx% during 2017 to 2021, witnessing a growth rate of xx% in 2020 from 2019 and xx% in 2021 from 2020. This tremendous growth is attributed to the incentives provided by UAE government and declining cost of Evs. As part of Dubai Electricity and Water Authority’s (DEWA) efforts to promote green and sustainable mobility in Dubai, over xx Green Charger stations with more than xx charging points have been installed across Dubai so far.

Market Segmentation: Segmentation of UAE EV Charging Equipment Market is done on the basis of Type of Chargers, Type of Charging, Application of Chargers in the Type of vehicle, Geographic Demand, Sales Channels and Manufacture Type.

Competitive Landscape of Industry Players

Currently, the competition in the EV Charging Space in UAE is monopolistic in nature, with the Dubai Electricity and Water Authority (DEWA) spearheading the installation and operation of EV Charging infrastructure in Dubai, which has the majority of EV chargers in the UAE. Although it has not been explicitly conveyed that the private sector would take the lead in operating EV charging infrastructure once it becomes commercially viable through large scale EV adoption, it is expected to do so due to past observed patterns in this sector in multiple countries. Competition is expected to increase in the coming years due to the aforementioned reasons.

Trends in EV Charging Industry in UAE

Evolving Battery Cell Technologies improving quality of EV's

·         The battery pack, which is the most expensive component of an EV, has seen a rapid development in both production techniques and time taken to achieve economies of scale.

·         Technology like Solid State Batteries and Lithium Titanium Oxide Batteries have increased the range of EV's

Shifting focus to DC Fast Chargers from AC chargers in the coming years 

·         Customers get paranoid about the battery remaining in their EV.

·         Fast charging- which is possible through DC chargers - will slowly become more significant as EV ownership increases in the coming years.

·         From this owners are able to quickly charge their vehicles and continue their journey, thus saving time.    

Incentives to promote green mobility

·         DEWA is providing free charging for non-commercial EV customers registered in the EV Green Charger Initiative.

·         This incentive is available at public charging stations and not home charging stations. The RTA has also provided electric vehicles incentives, including free parking, reduced electric vehicle registration fees, and exemption from Salik tag fee.

Mobile Charging platforms

·         Charging vans, portable chargers, and temporary chargers are examples of mobile charging.

·         In mobile charging, the chargers themselves are “on the go” and do not require infrastructure expenditures. Growing Consumer Market

·         The UAE leads the Middle East and North Africa (Mena) in the adoption of electric vehicles to diversify its economy from oil.

Request for Free Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTYyNzkz

Future Outlook of Industry

UAE Electric Vehicle Market was valued at USD xx in 2021. UAE Electric Vehicle Market size is estimated to grow at a CAGR of xx% during 2022 and 2026. The market is expected to reach a value of USD xx in 2026. Further, an investment of around USD xx 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.

Research Methodology

Market Definitions and Assumptions:

• Electric Charging Station Market: UAE Electric Charging Station Market is defined as the revenue generated through the sales of a piece of equipment that provides AC or DC power from the grid to a 2W, 3W and 4W EV in a public or private space (it has connectors that conform to a variety of standards, to connect the charging equipment).
• 4 Wheeler EV (4W): 4W is defined here as a passenger car (PC), constructed solely for the carriage of passengers and their effects (no more than 8 seats, including the driver’s seat), and includes only Battery Electric Vehicles (BEV's) as opposed to Hybrid and Plug in Hybrid Electric Vehicles (HEV's and PHEV's). Does not include Electric Trucks and Buses.
• 2 Wheeler EV (2W): 2W is defined as an electric vehicle which runs on 2 wheels only, it is also known as an electric motorcycle, electric scooter or electric bike.
• 3 Wheeler EV (3W): 3W is defined as an electric vehicle that is equipped with 3 wheels, and used as a carriage for passengers or for the transportation of goods (excluding motorcycles or scooters with a sidecar). Also referred to as an electric rickshaw.
• Charging Infrastructure EPC companies: Charging Infrastructure EPC companies are defined as the business entities that undertake end-to-end Charging Station Development Projects, as part of an MoU with the Public Development / Govt. bodies and/or in partnership with other automobile manufacturers and allied entities in the automobile ecosystem.
• EV charging cables are of 2 types: Alternating Current (AC) and Direct Current (DC). Within AC, there are 2 types, based on type of plugs used: Type-1 and Type-2. DC Charging cables are of 2 types, based on the type of plugs used: Combination Plugs (Combined Charging System, or CCS) and CHAdeMO.

Key Topics Covered in the Report

·         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)

·         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

·         Case Study (DEWA, EESL, Alfen)

Related Reports

India EV Charging Equipment Market Outlook to FY'2026 – Driven by Increasing Adoption of Electric Vehicles along with Implementation of FAME II Policy by Government

Indonesia Electric Vehicle Charging Equipment Market Outlook to 2026: Driven by influx of investment from abroad coupled with increasing focus on emission control

Global Charging Station for Electric Vehicle (EV) Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249