According to 6Wresearch, Middle East Electric Vehicle Market size is anticipated to register growth during 2020-2026. In the Middle East region, countries such as Saudi Arabia and UAE are becoming early adopters of electric vehicles. The Saudi Arabian Standards Organization (SASO) has plans to issue regulations for the use of electric vehicles. In UAE, the Road Transport Authority (RTA) has issued an advisory and working for the development of efficient charging stations in the country. The government's efforts are encouraging the usage of green energy and the promotion of electric vehicles by providing incentives to the consumer, which would propel the growth of the electric vehicle market in the Middle East. However, the growth is anticipated to slow down during the first half of 2020-2021 due to the coronavirus pandemic but likely to get back on track with normal business operations and economic recovery during the second half of 2020-2021.
In the Middle East, the passenger vehicle segment share is expected to dominate the overall electric vehicle market during the forecast period. Also, there has been a significant increase in the demand for electric two-wheelers in the past few years across several Middle Eastern countries owing to factors such as cost efficiency and wider usage and the two-wheeler segment is expected to grow further at a healthy pace over the coming years.
Key Highlights of the Report:
Middle East Electric Vehicle Market Overview
Middle East Electric Vehicle Market Outlook
Middle East Electric Vehicle Market Opportunity Assessment
Middle East Electric Vehicle Market Revenue Share, By Company
Middle East Electric Vehicle Market Revenue Share, By Country
Middle East Electric Vehicle Market Overview on Competitive Benchmarking
Middle East Electric Vehicle Market Forecast
Market Drivers and Restraints
Middle East Electric Vehicle Market Trends
Middle East Electric Vehicle Industry Life Cycle
Porter’s Five Force Analysis
Company Profiles
Key Strategic Recommendations
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