Market Research Report
Saudi Arabia Electric Vehicle Charging Infrastructure Market By Vehicle Type, By Type, By Charging Mode, By Installed Location, By Connector Type, By Type of Charging, By Region, Competition Forecast & Opportunities, 2027
|Saudi Arabia Electric Vehicle Charging Infrastructure Market By Vehicle Type, By Type, By Charging Mode, By Installed Location, By Connector Type, By Type of Charging, By Region, Competition Forecast & Opportunities, 2027|
Published: September 1, 2022
Content info: 74 Pages
Delivery time: 2-3 business days
Saudi Arabia electric vehicle charging infrastructure market is expected to grow at an impressive rate during the forecast period, 2023-2027. The main reasons supporting Saudi Arabia's growth in electric car charging infrastructure are rising electric vehicle sales and favorable government initiatives. Other factors driving the growth of the Saudi Arabian electric vehicle charging infrastructure market over the next five years include the increase in market players investing in the construction of electric vehicle charging infrastructure and improvements in electric vehicle charging infrastructure.To lessen its reliance on the oil and gas sector, the government is investing in developing alternative revenue streams and encouraging the expansion of other important industrial verticals. By 2030, the Kingdom of Saudi Arabia has promised that in Riyadh, at least 30% of all vehicles will be electric. Crown Prince Mohammad bin Salman declared his intention to achieve net-zero carbon emissions by 2060 at the Saudi climate summit. The main cause of pollution is thought to be the toxic emissions that come from vehicles that run on traditional energy sources. The government is taking action to encourage consumer adoption of electric vehicles and foster a sustainable environment. For instance, the National Industrial Development Center (NIDC) aims to draw three to four original equipment manufacturers to speed up the nation's production of electric vehicles. Leading authorities are providing income tax exemptions, tax incentives, loans, and subsidies for the production and sale of electric vehicles in accordance with the Saudi Arabia 2030 vision. The government is willing to spend money to build sufficient electric vehicle charging stations to aid in the seamless operation of electric automobiles.
The Saudi Arabia electric vehicle charging infrastructure market is segmented into vehicle type, type, charging mode, installed location, connector type, type of charging, regional distribution, and company. Based on vehicle type, the market is divided into two-wheeler, passenger cars, and commercial vehicles. Passenger cars are expected to capture the highest market share in the forecast period, 2023-2027. Changing consumer preference to invest in the purchase of electric automobiles over regular vehicles and private vehicle ownership drive the segment demand. Electric cars are popular because they are economical, have minimal maintenance, and are environmentally beneficial.
The major market players operating in the Saudi Arabia electric vehicle charging infrastructure market are: Electromaps S.L., Schneider Electric Saudi Arabia, NEC Saudi Arabia Ltd., ABB Ltd., and CATEC Mobility.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of the Saudi Arabia electric vehicle charging infrastructure market using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Saudi Arabia electric vehicle charging infrastructure market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia electric vehicle charging infrastructure market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: