UAE Electric Vehicle Market Overview
UAE Electric Vehicle Market report thoroughly covers the market by product types and regions. UAE electric vehicle market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The UAE Electric Vehicle Market size is projected to grow at a CAGR of 24.2% in terms of revenues during 2022-2028. The UAE electric vehicle market would register growth during the forecast period on account of an increase in tourist footfall in the country which is going to expand the car rental business in the emirates, coupled with domestic consumption on the back of economic benefits provided by the government to promote the electric vehicle in the country. Rising penetration towards the development of renewable and emission-less vehicles is adding to the UAE Electric Vehicle Market Growth. Additionally, the low maintenance and the initial cost of an electric vehicle are proliferating the growth of the market.
UAE Electric Vehicle Market Synopsis
The UAE Electric Vehicle market is currently in its early stage and witnessed certain growth during the period 2018-2021 owing to the Electric Vehicle (EV) Green Charger initiative undertaken by the government of UAE. However, the COVID-19 pandemic affected market revenues during the year 2020 as the mobility restrictions led to supply chain disruptions for electric motors and halted the manufacturing operations thereby resulting in a fall in market demand and hence the market revenues.
Key Highlights of the Report:-
- UAE Electric Vehicle Market Overview
- UAE Electric Vehicle Market Outlook
- UAE Electric Vehicle Market Forecast
- UAE Electric Vehicle Market Revenue Ranking, By Companies
- Covid-19 Impact on UAE Electric Vehicle Market
- Market Drivers and Restraints
- UAE Electric Vehicle Market Trends
- Industry life Cycle
- Porter’s Five Force Analysis
- Price Trend Analysis
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
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