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.
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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
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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
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Research
Ankur
Gupta, Head Marketing & Communications
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