DUBLIN, March 2, 2023 /PRNewswire/ — The “UAE Electric Vehicle Charging Infrastructure Market, By Vehicle Type (Two- Wheeler, Passenger Car, Commercial Vehicle), By Type (AC, DC), By Charging Mode, By Installed Location, By Connector Type, By Type of Charging, By Region, Competition Forecast & Opportunities, 2028” report has been added to ResearchAndMarkets.com’s offering.
UAE electric vehicle charging infrastructure market is anticipated to grow at a robust CAGR in the forecast period, 2024-2028
Factors such as the increase in the sale of electric vehicles and the government and private sector initiatives to switch to EVs are the primary drivers for the UAE electric vehicle charging infrastructure market.
Also, the advancements in technology to lower the charging time and the rapid construction of charging stations are expected to bolster the market demand over the next five years.
Supportive Government Policies Drive the Market Growth
UAE has abundant sources of oil & gas, but the fluctuations in crude oil prices and the limited availability of conventional sources of energy are making the leading authorities procure energy from renewable energy sources. The transportation industry plays a significant role in lowering the country’s carbon footprint.
Under the UAE Vision 2021, the government promotes the adoption of electric vehicles across the country. Around 175 charging statings were installed in UAE in 2021. Tesla will launch about 200 electric vehicles in the Dubai Taxi Industry. The plan is expected to aid the government in achieving the green mobility targets, which state that 25% of the trips will be made by self-drive vehicles by 2030.
Also, the Roads and Transport Authority (RTA) is making efforts to make public transportation emission-free by 2050. The support from the government in the form of initiatives and the construction of numerous charging stations in different parts of the country are expected to accelerate the market demand over the next five years.
Technological Advancement of the Charging Technology Supports the Market Growth
Market players focus on research and development activities to find innovative solutions and upgrade the existing infrastructure by lowering the charging time and increasing the charging speed. They are making efforts to increase the convenience and comfort of the passenger while driving electric vehicles and are installing charging stations in many places.
Availability of mobile charging platforms such as portable chargers, charging vans, and temporary chargers are gaining popularity as they offer the vehicle owner the flexibility to charge the electric vehicle at the roadside. Also, the market players are focusing on improving services for luxury vehicle owners due to their high demand among consumers.
The advent of wall-based high-speed hyper charging capacitance has a significant advantage over wall socket chargers, and it halves the time required for charging. The ongoing advancements and the high-end investments by the market players in the continuous evolution of technologies to introduce advanced products are expected to create lucrative growth opportunities for UAE electric vehicle charging infrastructure market in the forecast period.
Increased Electric Vehicle Sales Boost the Demand for Electric Vehicle Charging Stations
An increase in the demand for the production and sales of electric vehicles due to growing environmental concerns and the need to reduce carbon footprint are fueling the installation of electric vehicle charging stations.
Market players are focusing on launching high-performance electric vehicles in the market. They are expanding their product portfolio by introducing vehicles from small hatchbacks to sedans to cater to the demands of different customers.
Also, the developing road infrastructure and rapid urbanization are expected to influence market demand. The increased expenditure capacity of consumers and improved living standards are expected to boost the UAE electric vehicle charging infrastructure market in the forecast period.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in UAE electric vehicle charging infrastructure market.
- Orbix
- V Charge Trading LLC
- FutureLink (GreenParking)
- ABB Limited
- L-Charge
- Art of Energi
Report Scope:
UAE Electric Vehicle Charging Infrastructure Market, By Vehicle Type:
- Two- Wheeler
- Passenger Car
- Commercial Vehicle
UAE Electric Vehicle Charging Infrastructure Market, By Type:
UAE Electric Vehicle Charging Infrastructure Market, By Charging Mode:
- Plug-in
- Wireless
UAE Electric Vehicle Charging Infrastructure Market, By Installed Location:
- Commercial
- Residential
UAE Electric Vehicle Charging Infrastructure Market, By Connector Type:
- Type 1
- Type 2
- UK 3-Pin
- CHAdeMO
- CCS
- Others
UAE Electric Vehicle Charging Infrastructure Market, By Type of Charging:
UAE Electric Vehicle Charging Infrastructure Market, By Region:
- Dubai
- Abu Dhabi
- Sharjah
- Rest of UAE
For more information about this report visit https://www.researchandmarkets.com/r/hp3r3c-electric?w=5-electric?w=5
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SOURCE Research and Markets
