DUBLIN, Aug. 23, 2019 /PRNewswire/ -- The "UAE Electric Vehicle Market (2019-2025): Market Forecast By Vehicle Types (Passenger Vehicle, Two-Wheeler, Bus and Truck), By Regions (Dubai, Abu Dhabi and Rest of Emirates) and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
UAE electric vehicle market is projected to grow at a CAGR of 32.1% during 2019-25.
Government policies and incentives for electric vehicles, along with the support of government authorities and private companies in developing EV infrastructure would drive the market for electric vehicles in the UAE. Additionally, new models of electric vehicles such as Nissan LEAF and Peugeot are expected to launch by 2020 would also contribute to the rise in demand for electric vehicles in the UAE.
Under UAE Vision 2021, the government is encouraging the adoption of electric vehicles in the country. In addition to this, Dubai Electricity and Water Authority (DEWA) and Road Transport Authority (RTA) are working together for the development of electric vehicle market in the country by installing charging stations and providing incentives such as free parking and exemption from toll and registration fees.
Dubai acquired the highest market share as compared to other Emirates in the country owing to the better electric vehicle supporting infrastructure such as charging stations. Additionally, authorities and private companies are working towards improving the charging technology which would reduce the charging time for electric vehicles.
This, in turn, would create a suitable environment for the growth of electric vehicles across the country.
Some of the key players in the UAE electric vehicle market include - Tesla, Inc., Hyundai Motor Company, Volkswagen Motor Company LTM, Bayerische Motoren Werke AG, and others.
The report comprehensively covers the market by vehicle types and regions. The report provides an unbiased and detailed analysis of the market trends, opportunities, high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
Key Highlights of the Report:
The report provides a detailed analysis of the following market segments:
By Vehicle Types
For more information about this report visit https://www.researchandmarkets.com/r/t54hqv
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