Saudi Arabia Electric Vehicle Market Overview: 2024-2030

Base Year: 2023

Historical Years:  2019-22

Forecast Years: 2024-2030

The Saudi Arabia Electric Vehicle Market is expected to grow at an impressive CAGR of around 53.5% during the forecast period, i.e., 2024-30. The Saudi Arabia Electric Vehicle Market is going through significant growth due to multiple drivers like technological advancements and, of course, increasing healthcare needs. The increase in road accidents throughout the country creates a greater demand for X-rays.

Markntel Advisor’s Saudi Arabia Electric Vehicle Market Insights report provides the current and forecast market analysis, individual leading companies' market shares, challenges, Saudi Arabia Electric Vehicle Market drivers, barriers, Saudi Arabia Electric Vehicle Market Trends, and Key Players in Saudi Arabia Electric Vehicle Market.

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Saudi Arabia Electric Vehicle Market Dynamics: 2024-2030

Saudi Arabia Electric Vehicle Market Driver:

Various Government Initiatives Toward Attaining Zero-carbon Emissions - The government of Saudi Arabia is introducing several programs and initiatives toward promoting green mobility across the country, as transportation plays a crucial role in reducing carbon footprints. The government is investing massively in establishing electrically-powered public transportation systems while encouraging consumers to shift toward EVs or natural gas/hydrogen-based vehicles. Hence, with rising fuel prices and rising concerns over environmental degradation, more & more consumers are showing interest in EVs, which, consequently, would drive the Electric Vehicle Market in Saudi Arabia through 2030.

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Saudi Arabia Electric Vehicle Market (2024-30): Segmentation Outlook

The market report has segmented the market into the following categories:

By Vehicle Type

Passenger Vehicles

Two-Wheelers

Commercial Vehicles

Trucks

LCV (Up to 4 Tons)

MHCV (4 to 8 Tons)

HCV (Above 8 Tons)

Buses

By Power Source

Battery Electric Vehicle (BEV)

Plug-In Hybrid Electric Vehicle (PHEV)

Hybrid Electric Vehicle (HEV)

By Battery Type

Lithium-Ion Battery

Lithium Titanate Oxide

By Region

Central

East

West

South.

Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.

Top Companies Operating in the Saudi Arabia Electric Vehicle Market:

Chevrolet, Renault Group, BMW AG, Canoo Inc. (GOEV), Lucid Group, Nissan Motor Corporation, For d Motor Company, Porsche Middle East & Africa, Toyota Motor Corporation, Tacita, Tajeer Group (MG Motor Group), Electromin, Caterpillar, Others.

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