Saudi Arabia Electric Vehicle Market, By Drive Type (Plug-in Hybrid, Pure Electric), By Vehicle Type (Passenger Vehicles and Commercial Vehicles), By Region (Northern and Central, Southern, Eastern, Western)Trend Analysis, Competitive Market Share & Forec

Saudi Arabia Electric Vehicle Market, By Drive Type (Plug-in Hybrid, Pure Electric), By Vehicle Type (Passenger Vehicles and Commercial Vehicles), By Region (Northern and Central, Southern, Eastern, Western)Trend Analysis, Competitive Market Share & Forecast, 2018-2028

Saudi Arabia Electric Vehicle Market to Grow at a Steady rate during 2022-2028

Saudi Arabia Electric Vehicle Market is growing at a steady rate owing to the affordable eco-friendly transportation and technological advancement along with the favorable government support…

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that Saudi Arabia Electric Vehicle Market is estimated to grow at a CAGR of 32.5% by the end of 2028. The lucrative growth of Saudi Arabia Electric Vehicle Market is attributed to the growing adoption of used electric cars in the booming logistics and passenger transport sector. Also, the government projects and policies are affecting the electric vehicle market’s growth and are estimated to upkeep the growth over the near future. Furthermore, Saudi Arabia has set a goal of achieving net-zero carbon emissions by 2060 through a ‘circular carbon economy approach’ compatible with the kingdom’s development and diversification plans. This results in offering lucrative opportunity for the market growth. However, Saudi Arabia Electric Vehicle Market is one of the most emerging markets that grow continuously owing to the fast integration of new technologies like the Internet of Things (IoT), Artificial Intelligence (AI), cloud computing, and others.

Based on vehicle type, the Saudi Arabia Electric Vehicle Market is categorized into Passenger Vehicles and Commercial Vehicles. The commercial vehicle segment holds the largest market share owing to the increasing use of commercial vehicles in the logistics and transportation sectors. Also, the flourishing small and medium-sized enterprises are generating huge demand for commercial vehicles in the country. Based on the drive type, the Saudi Arabia Electric Vehicle Market is fragmented into plug-in hybrid and pure electric. The plug-in hybrid electric vehicle accounts for the largest share in the Saudi Arabia Electric Vehicle Market due to the limited presence of charging infrastructure in Saudi Arabia. Therefore, most electric car owners opt for this propulsion technology to run on both batteries as well as conventional fuel. Moreover, the pure electric vehicle segment is expected to dominate the market during the forecast period.

Geographically, the Saudi Arabia Electric Vehicle Market is segmented into Northern and Central, Southern, Eastern, and Western. The Northern and Central region is expected to dominate the Saudi Arabia Electric Vehicle Market. As Saudi Arabia is aiming to have 30% of electric cars in its capital Riyadh. Further, supporting the growth of the Saudi Arabia Electric Vehicle Market during the forecast period (2022-2028). The Saudi Arabia Electric Vehicle Market was negatively impacted by the unprecedented COVID-19 pandemic outbreak. The complete lockdown imposed by the Saudi Arabian government affected all the industries in the market. This resulted in huge losses to the overall market. Furthermore, the declining disposable income of consumers and halting of charging point infrastructure establishing activities also hindered the growth of the Saudi Arabia Electric Vehicle Market.

The leading market players in Saudi Arabia Electric Vehicle Market are Tesla Motors Inc, Volkswagen AG, Toyota Motor Corporation, Nissan Motor Co. Ltd, Geely, Honda Motor Company Ltd, General Motors Group, Hyundai Kia Automotive Group, and other prominent players. The market is highly consolidated and dominated by multinational car manufacturers including Tesla Motors Inc, Volkswagen AG, Toyota Motor Corporation, etc. However, with increasing demand for electric vehicles, several EV startups are also emerging with significant growth potential in the market. The companies constantly launch new vehicle models and their upgraded versions with advanced features to attract buyers and gain a competitive edge. They also adopt competitive strategies such as partnerships, mergers, acquisitions, joint ventures, etc., to stay ahead in the market.

Don’t miss the business opportunity in the Saudi Arabia Electric Vehicle Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics on Saudi Arabia Electric Vehicle Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Saudi Arabia Electric Vehicle Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary & Secondary Research
2.2. Quantitative Research
2.3. Market Breakdown & Data Triangulation
2.3.1. Secondary Research
2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents, By Region
2.5. Assumption & Limitation
3. Executive Summary
4. Saudi Arabia Electric Vehicles Market Insights
4.1. Industry Value Chain Analysis
4.2. DROC Analysis
4.2.1. Growth Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3. Technological Landscape/Recent Development
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Intensity of Rivalry
5. Saudi Arabia Electric Vehicles Market Overview
5.1. Market Size & Forecast by Value, 2018-2028
5.1.1. By Value (USD Million)
5.1.2. By Volume (Thousand Units)
5.2. Market Share & Forecast
5.2.1. By Drive Type
5.2.1.1. Plug-in Hybrid
5.2.1.2. Pure Electric
5.2.2. By Vehicle Type
5.2.2.1. Passenger Vehicle
5.2.2.2. Commercial Vehicle
5.2.3. By Region
5.2.3.1. Northern and Central
5.2.3.2. Southern
5.2.3.3. Eastern
5.2.3.4. Western
6. Competitive Landscape
6.1. List of Key Players and their Offerings
6.2. Market Share Analysis, 2021
6.3. Competitive Benchmarking, By Operating Parameters
6.4. Key Strategic Development (Merger, Acquisition, Partnership.)
7. Impact of COVID-19 on Saudi Arabia Electric Vehicles Industry
8. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
8.1. Tesla Motors Inc
8.2. Volkswagen AG
8.3. Toyota Motor Corporation
8.4. Nissan Motor Co. Ltd
8.5. Geely
8.6. Honda Motor Company Ltd
8.7. General Motors Group
8.8. Hyundai Kia Automotive Group
8.9. Other prominent players.
9. Key Strategic Recommendations
List of Figures
Figure 1: Saudi Arabia Electric Vehicles Market Segmentation
Figure 2: Saudi Arabia Electric Vehicles Industry Value Chain Analysis
Figure 3: Saudi Arabia Electric Vehicles Market Size, By Value (USD Million), 2018-2028
Figure 4: Saudi Arabia Electric Vehicles Market Size, By Volume (Thousand Units), 2018-2028
Figure 5: Saudi Arabia Electric Vehicles Market Share (%), By Drive Type, By Value, 2018-2028
Figure 6: Saudi Arabia Electric Vehicles Market Share (%), By Drive Type, By Volume, 2018-2028
Figure 7: Saudi Arabia Electric Vehicles Market Share (%), By Vehicle Type, By Value, 2018-2028
Figure 8: Saudi Arabia Electric Vehicles Market Share (%), By Vehicle Type, By Volume, 2018-2028
Figure 9: Saudi Arabia Electric Vehicles Market Share (%), By Region, By Value, 2018-2028
Figure 10: Saudi Arabia Electric Vehicles Market Share (%), By Region, By Volume, 2018-2028
List of Tables
Table 1: Saudi Arabia Electric Vehicles Market Size, By Drive Type, By Value (USD Million), 2018-2028
Table 2: Saudi Arabia Electric Vehicles Market Size, By Drive Type, By Volume (Thousand Units), 2018-2028
Table 3: Saudi Arabia Electric Vehicles Market Size, By Vehicle Type, By Value (USD Million), 2018-2028
Table 4: Saudi Arabia Electric Vehicles Market Size, By Vehicle Type, By Volume (Thousand Units), 2018-2028
Table 5: Saudi Arabia Electric Vehicles Market Size. By Region, By Value (USD Million), 2018-2028
Table 6: Saudi Arabia Electric Vehicles Market Size. By Region, By Volume (Thousand Units), 2018-2028
Table 7 Tesla Motors Inc Company Overview
Table 8 Tesla Motors Inc Financial Overview
Table 9 Volkswagen AG Company Overview
Table 10 Volkswagen AG Financial Overview
Table 11 Toyota Motors Company Overview
Table 12 Toyota Motors Financial Overview
Table 13 Nissan Motor Co. Ltd Company Overview
Table 14 Nissan Motor Co. Ltd Financial Overview
Table 15 Geely Company Overview
Table 16 Geely Financial Overview
Table 17 Honda Motor Company Ltd. Company Overview
Table 18 Honda Motor Company Ltd. Financial Overview
Table 19 General Motors Group Company Overview
Table 20 General Motors Group Financial Overview
Table 21 Hyundai Kia Automotive Group Company Overview
Table 22 Hyundai Kia Automotive Group Financial Overview

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