Electric Vehicles Market – GCC
Market Statistics
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024: 40.3 Thousand Units
Market Size in 2033: 97.3 Thousand Units
Market Growth Rate (CAGR) 2025-2033: 9.3%
According to IMARC Group’s report titled “GCC Electric Vehicles Market Report and Forecast 2025-2033,” the market reached 40.3 Thousand Units in 2024. Looking forward, IMARC Group expects the market to reach 97.3 Thousand Units by 2033, exhibiting a growth rate (CAGR) of 9.3% during 2025-2033.
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GCC Electric Vehicles Market Trends and Drivers
- Growth of Renewable Energy Integration:
- Expansion of solar and wind power supporting EV infrastructure.
- Smart grids and hybrid energy systems enhancing charging solutions.
- Rising Consumer Demand for Sustainability:
- Increased awareness of environmental issues driving EV sales.
- Higher gasoline prices making EVs a more attractive alternative.
- Government Support for EV Adoption:
- Financial incentives such as tax credits and grants for EV purchases.
- Subsidies for EV charging station development.
- Reduced registration fees to encourage EV ownership.
- Energy and Foreign Policy Influence:
- Policies aimed at reducing carbon emissions are shaping EV adoption.
- Government initiatives promoting sustainability in transportation.
- Advancements in Battery Energy Storage:
- Rapid technological improvements making EVs more efficient.
- Development of advanced battery storage solutions for long-range travel.
- Luxury EV Market Expansion:
- Growing interest in high-end electric SUVs and supercars.
- Premium EVs catering to the wealthy segment of the GCC population.
- Public Transport Electrification:
- Introduction of electric buses and public transport vehicles.
- Efforts to reduce urban pollution through green transportation initiatives.
- Public and Private Sector Collaboration:
- Increased cooperation between governments and industrial sectors.
- Joint efforts in research, innovation, and infrastructure development.
- Market Outlook:
- With these trends and policies in place, the GCC electric vehicle market is set to expand rapidly, aligning with sustainability goals and urban mobility improvements.
GCC Electric Vehicles Market Report Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest GCC electric vehicles market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
By Component:
- Battery Cells and Packs
- On-Board Charger
- Fuel Stack
By Charging Type:
- Slow Charging
- Fast Charging
By Propulsion Type:
- Battery Electric Vehicle (BEV)
- Fuel Cell Electric Vehicle (FCEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
- Hybrid Electric Vehicle (HEV)
By Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
- Others
By Country:
- Saudi Arabia
- UAE
- Qatar
- Bahrain
- Kuwait
- Oman
Request for customization: https://www.imarcgroup.com/request?type=report&id=10235&flag=C
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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