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
Intermunicipal and Sector Coordination:
- Collaboration between public authorities and the industrial sector fostering innovation and development.
Public Transport Electrification:
- Development of electric buses and taxis to combat urban pollution and promote green transport.
Diverse EV Offerings:
- Introduction of various electric vehicles, including:
- Electric SUVs.
- High-end supercars catering to the region’s affluent population.
- Introduction of various electric vehicles, including:
Accelerated Technological Diffusion:
- Advances in battery energy storage and devices, leading to cost reductions and increased vehicle ranges.
Energy Policy and Security:
- Emphasis on energy policy security to reduce dependency on fossil fuels.
Foreign Policy and Employment Growth:
- Focus on responding to carbon emission reductions and growing employment figures.
Government Commitment:
- Financial aid initiatives such as:
- Tax credits through partial grant-type credits.
- Subsidized charging station facilities.
- Below-average registration fees to encourage EV adoption.
- Financial aid initiatives such as:
Infrastructure Development:
- Expansion of EV infrastructure, including charging stations and smart grids.
Consumer Awareness and Fuel Costs:
- Growing customer demand for environmentally sustainable options.
- Rising gasoline prices increasing EV attractiveness.
Renewable Energy Integration:
- Development of hybrid electricity power systems driven by large-scale solar and wind energy production.
- Development of hybrid electricity power systems driven by large-scale solar and wind energy production.
- Future Outlook:
- Continued growth driven by government incentives, renewable energy integration, and advanced technologies.
- Expanded product offerings and enhanced public transportation electrification supporting market development.
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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