DUBLIN--(BUSINESS WIRE)--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.
The UAE electric vehicle market is projected to grow at a CAGR of 32.1% during 2019-25. Under UAE Vision 2021, the government is encouraging the adoption of electric vehicles in the country.
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.
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 provides a detailed analysis of the following market segments:
By Vehicle Types
- Passenger Vehicle
- Abu Dhabi
- Rest of Emirates
- Bayerische Motoren Werke AG
- General Motors Company
- Groupe Renault
- Hyundai Motor Company
- Tesla, Inc.
- Volkswagen Motor Company LTM
For more information about this report visit https://www.researchandmarkets.com/r/rjs3uo