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. 

Our Latest Reports Now Include In-Depth Supply Chain Ecosystem Analysis, Enabling Businesses to Navigate Tariff Challenges with Greater Agility Get Sample Report – https://www.marknteladvisors.com/query/request-sample/saudi-arabia-electric-vehicle-market.html

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.

Browse Full Report with Detail Analysis – https://www.marknteladvisors.com/research-library/saudi-arabia-electric-vehicle-market.html

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

The Passenger Vehicles segment is projected to acquire a notable share of the Saudi Arabia Electric Vehicle Market during 2024-30. 

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

-Ford Motor Company

-Porsche Middle East & Africa

-Toyota Motor Corporation

-Tacita

-Tajeer Group (MG Motor Group)

-Electromin

-Caterpillar.

Industry Recent Development:

• January 2023: Canoo Inc. (GOEV) announced its partnership with GCC (General Contracting Company) Olayan for the sales, service, & distribution of its EVs in Saudi Arabia. There are also plans to launch a JV and co-develop a “digital vehicle ecosystem” for local assembly & EV manufacturing.
• May 2022: Lucid Group announced its plans to establish its EV manufacturing facility in Jeddah, with a production capacity of 155,000 vehicles annually, which will be the company's first factory outside the US and initially serve the local market.

Reports Delivery Format - Market research studies from MarkNtel Advisors are offered in PDF, Excel, and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address

About Us –

We are a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

Contact Us –

Email: [email protected]

Sales Office: 564 Prospect St, B9, New Haven, Connecticut, USA-06511

Address Corporate Office: Office No.109, H-159, Sector 63, Noida, Uttar Pradesh-201301, India