Global Market Research Reports : Ken Research: UAE Electric Taxi Market Growth

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Wednesday, July 6, 2022

Electric Vehicle Charging Equipment Market in UAE grew at a CAGR of 41.9% during 2017 to 2021 owing to government support and incentives with the increasing focus on green mobility: Ken Research

June 2022 | UAE News

EV Landscape in UAE

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. There has been an increased and integrated usage of the Battery based electric vehicles into the industrial perspective of operations.

Various initiatives and programs across the UAE are encouraging these shifts towards Green Mobility because the transportation sector plays a vital role in decreasing the carbon footprint. Incentives offered by the government, banks, and car dealers, has also led to the growth in the UAE’s imports of EVs and increased environmental awareness among citizens. About 29% 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.

Future Analysis of UAE EV Charging Equipment Industry

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.

Government Initiatives

The “Green Charger” initiative launched by the Dubai Electricity and Water Authority to provide charging stations for electric vehicles in various parts of Dubai supports the emirate’s efforts to provide innovative and environmentally friendly solutions through its contribution to reducing carbon emissions from the transportation sector and supporting the Dubai Green Mobility Strategy 2030.

Consequently the popularity of EVs in the UAE has grown significantly. Incentives offered by the government, banks and car dealers, has also led to the growth in the UAE’s imports of EVs and increased environmental awareness among citizens.

As part of Dubai Electricity and Water Authority’s (DEWA) efforts to promote green and sustainable mobility in Dubai, over 325 Green Charger stations with more than 530 charging points have been installed across Dubai so far.

The report also focuses on UAE EV Charging Equipment Industry segmentation by Type of Charging, Type of Chargers, Type of Vehicle, Type of Geography, and By Sales Channels. The EV Charging section of the report concludes with projections for the future of the industry included forecasted total EV Charging Equipment revenue by 2026, and analysts’ take on the future highlighting major opportunities.

Key Segments Covered in UAE EV Charging Equipment Industry

EV Charging Market Size by
Revenue
Revenue through new car sales
Revenue through demand of chargers by type of charging stations

UAE EV Charging Equipment Industry By
Type of Chargers- AC and DC chargers
Type of Charging- Home Charging, Private Charging, and Public Charging
Type of Vehicle- 2W and 4W
Geographic Demand- Dubai, Abu Dhabi, Sharjah, Fujairah, Ajman, Umm Al Quwain, Ras Al Khaimah
Sales Channels- Direct Sales, Online, and Dealers/ Distributors
Domestic Manufacture and Import

Product Analysis
4W Chargers

Pricing Analysis
4W Chargers pricing
2W Chargers pricing

Key Target Audience
Electricity Supplier
EV Manufacturers
EV Charging Equipment Manufacturers
EV Charging System Operator
Demand side Transport Operators
Government Bodies

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Time Period Captured in the Report:
Historical Period: 2017-2021
Forecast Period: 2022-2026F

EV Charging Equipment Players in UAE
ABB
Schneider Electric
Siemens
Yinlong Energy
Eaton UAE
Grizzl E
Elecvlife

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)

· Cross comparison of top players in the EV Charging Equipment Market in UAE

· 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

· 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)

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

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Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249

Monday, June 27, 2022

UAE Electric Vehicle Charging Equipment Market Size and Research 2022, CAGR Status, Growth Analysis, Key Manufacturer and Strategies till 2026: Ken Research

The publication titled ‘UAE Electric Vehicle Charging Equipment Market Outlook to 2026: Driven by government support and incentives with the increasing focus to achieve green and sustainable economy’ covers the overview of EV Charging Equipment Industry by analyzing historical EV Charging statistics and corresponding change in Middle Affluent Class in UAE. The report covers various aspects including EV Charging Equipment industry market size on the basis of total revenue generated from the charging equipment. Furthermore, the report provides a comprehensive insight on industry trends & developments, issues and challenges, ecosystem, value chain analysis, SWOT Analysis, rules & regulations, growth levers of industry; comparison of top EV Charging Equipment Manufacturers on the basis of Overview, Products, Business Streams, Manufacturing Capabilities, Distribution Channels, Recent Projects, Cost Structure, and Awards and Recognitions. The report also focuses on UAE EV Charging Equipment Industry segmentation by Type of Charging, Type of Chargers, Type of Vehicle, Type of Geography, and By Sales Channels. The EV Charging section of the report concludes with projections for the future of the industry included forecasted total EV Charging Equipment revenue by 2026, and analysts’ take on the future highlighting major opportunities.

Overview of Electric Vehicle Industry in UAE:

UAE is the second largest automotive market in the Gulf Cooperation Council (GCC) after Saudi Arabia owing to the growing population and high disposable income. The demand for vehicles in the country mainly originates from the construction, infrastructure, logistics, tourism, and public transport sectors have turned the emirate into a major exporter and re-exporter of vehicles. The transportation sector is one of the most significant contributors to CO2 emissions in UAE, second to the industrial sector. Incentives offered by the government, banks, and car dealers, has also led to the growth in the UAE’s imports of EVs and increased environmental awareness among citizens. The Battery Electric Vehicles sales grew at a CAGR of ~49% during 2017 and 2021.

UAE Electric Vehicle Charging Equipment Market Overview:

The EV Charging Equipment market grew at a CAGR of ~42% during 2017 to 2021, witnessing a growth rate of ~63% in 2021 from 2020. The UAE electric vehicle charging market is driven by increasing efforts of the government to reduce the carbon footprint in the country. Dubai emirates lead the country with a maximum number of charging stations installed to date and several plans further implementing towards the development of electric mobility. The manufacturers are focusing more on the development of new technologies such as stand-alone parking, lithium-ion batteries, wireless charging, & ultra-fast DC charging networks to improve Electric Vehicle adoption.

Competitive Landscape in UAE EV Charging Market

Drivers and Impediments to growth:

The cost of purchasing an EV is reducing every year due to scaling up of existing technology through efficient production, which is having a cascading effect on the development of EV Charging Infrastructure throughout the world. 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 all EV's in a single charge. One of the problems preventing the commercialization of EV's is the high purchase costs, which is a significant factor in developing and underdeveloped countries. Since the UAE has a per capita income comparable to developed countries, the effects of the aforementioned problem are mitigated to a large extent. The UAE electric vehicle charging market is driven by increasing efforts of the government to reduce the carbon footprint in the country.

UAE EV Charging Market Future Outlook:

The strength of EVs on UAE roads is increasing, and eventually, it will knit electricity and transportation sectors. One of their key initiatives is under the Dubai Autonomous Transportation Strategy, which aims to transform 25% of the transportation in Dubai to autonomous mode by 2030. Adoption of clean energy strategies by the country as a part of UAE’s vision 2030 and focus on achieving net zero emissions by 2050 would also stimulate the market growth in the years to come. The Smart Dubai initiative adopted by the government focusing on the conversion of the country into a smart city by the year 2030 is further expected to boost the UAE electric vehicle charging infrastructure market, which is expected to grow at a CAGR of ~35% from 2022 to 2026.