Saudi Arabia Electric Vehicle Charging Infrastructure Market Report 2022: Market Developments Expected as Crown Prince Mohammad bin Salman Declared to Achieve Net-zero Carbon Emissions by 2060
DUBLIN, Oct. 13, 2022 /PRNewswire/ -- The "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" report has been added to ResearchAndMarkets.com's offering.
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.
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.
Objective of the Study:
- To analyze the historical growth in the market size of the Saudi Arabia electric vehicle charging infrastructure market from 2017 to 2021.
- To estimate and forecast the market size of Saudi Arabia electric vehicle charging infrastructure market from 2022 to 2027 and growth rate until 2027.
- To classify and forecast the Saudi Arabia electric vehicle charging infrastructure market based on vehicle type, type, charging mode, installed location, connector type, type of charging, region, and company.
- To identify the dominant region or segment in the Saudi Arabia electric vehicle charging infrastructure market.
- To identify drivers and challenges for the Saudi Arabia electric vehicle charging infrastructure market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Saudi Arabia electric vehicle charging infrastructure market.
- To identify and analyze the profiles of leading players operating in the Saudi Arabia electric vehicle charging infrastructure market.
- To identify key sustainable strategies adopted by market players in Saudi Arabia electric vehicle charging infrastructure market.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia electric vehicle charging infrastructure market.
- Electromaps S.L.
- Schneider Electric Saudi Arabia
- NEC Saudi Arabia Ltd.
- ABB Ltd.
- CATEC Mobility
Report Scope:
Saudi Arabia Electric Vehicle Charging Infrastructure Market, By Vehicle Type:
- Two- Wheeler
- Passenger Car
- Commercial Vehicle
Saudi Arabia Electric Vehicle Charging Infrastructure Market, By Type:
- AC
- DC
Saudi Arabia Electric Vehicle Charging Infrastructure Market, By Charging Mode:
- Plug-in
- Wireless
Saudi Arabia Electric Vehicle Charging Infrastructure Market, By Installed Location:
- Commercial
- Residential
Saudi Arabia Electric Vehicle Charging Infrastructure Market, By Connector Type:
- Type 1
- Type 2
- UK 3-Pin
- CHAdeMO
- CCS
- Others
Saudi Arabia Electric Vehicle Charging Infrastructure Market, By Type of Charging:
- Slow
- Fast
Saudi Arabia Electric Vehicle Charging Infrastructure Market, By Region:
- Northern & Central
- Southern
- Eastern
- Western
Years considered for this report:
- Historical Years: 2017-2020
- Base Year: 2021
- Estimated Year: 2022
- Forecast Period: 2023-2027
For more information about this report visit https://www.researchandmarkets.com/r/es0aj5
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
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SOURCE Research and Markets
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