Growing demand for EV fast-charging infrastructure and stringent emission regulations are expected to drive the demand for Saudi Arabia electric vehicle charging infrastructure market in the forecast period, 2023-2027.
According to TechSci Research report, “Saudi Arabia Electric Vehicle Charging Infrastructure Market By Vehicle Type (Two- Wheeler, Passenger Car, Commercial Vehicle), By Type (AC, DC), By Charging Mode (Plug-in, Wireless), By Installed Location (Commercial, Residential), By Connector Type (Type 1, Type 2, UK 3-Pin, CHAdeMO, CCS, Others), By Type of Charging (Slow, Fast), By Region, Competition Forecast & Opportunities, 2027”, the Saudi Arabia electric vehicle charging infrastructure market is expected to witness robust CAGR in the forecast period, 2023-2027. The rapid transition of the automotive industry from fuel-based to electric vehicles to decarbonize the transportation industry is accelerating the adoption of electric vehicles in the Kingdom of Saudi Arabia. The electric vehicle industry is at a nascent stage, and the total electric vehicle penetration in Saudi Arabia is less than 1% at present which provides ample growth opportunity to the market players of Saudi Arabia electric vehicle charging infrastructure market.
However, the high cost of electric vehicles may restrain the Saudi Arabia electric vehicle charging infrastructure market growth in the forecast period.
Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on "Saudi Arabia Electric Vehicle Charging Infrastructure Market"
The Saudi Arabia electric vehicle charging infrastructure market is segmented into vehicle type, type, charging mode, installed location, connector type, type of charging, regional distribution, and company.
Based on vehicle type, the market is divided into two- wheeler, passenger cars, and commercial vehicles. Passenger electric vehicles are expected to hold the largest market share in the forecast period due to the shift in preference of consumers to buy electric vehicles instead of investing in the purchase of traditional vehicles. People buy electric vehicles due to their cost-effectiveness, low maintenance, and environment-friendly nature.
Based on type, the market is divided into AC and DC. DC charging type is expected to account for significant market share in the next five years as they offer fast charging than AC charging and will take less time to charge the electric vehicles.
Based on charging mode, the market is divided into plug-in and wireless. Wireless charging is expected to witness the fastest incremental growth in the next five years as it is highly convenient and does not damage the wires.
Based on installed location, the market is divided into commercial and residential. Commercial locations are expected to dominate the market in the next five years. Setting up charging stations requires high investments, which is one of the major reasons people prefer to charge electric vehicles from public charging stations.
Based on connector type, the market is divided into type 1, type 2, UK 3-Pin, CHAdeMO, CCS, and others. CCS connector type is a combined charging system, and the demand for CCS connectors is expected to grow at a rapid rate in the next five years. CCS is used for the rapid charging of electric vehicles. It used connections of the Type 2 interface and the additional two DC power lines that can run at higher voltages than the standard connector. It does not require much space on electric cars and can be used on a range of vehicles.
Based on the type of charging, the market is divided into slow and fast. Fast charging is expected to account for a significant market share in the forecast period as it is highly preferred among consumers due to convenience and speed. Fast charging stations focus on recharging the electric batteries in a minimum amount of time. With the ongoing advancements in fast charging technology, the average time for rapid charging is decreased, due to which the traveling distance for electric vehicles can be increased. The installation of fast-charging stations at public places is expected to act as a positive factor for the sales of electric vehicles.
Major market players operating in Saudi Arabia electric vehicle charging infrastructure market are:
- Electromaps S.L.
- Schneider Electric Saudi Arabia
- NEC Saudi Arabia Ltd.
- ABB Ltd.
- CATEC Mobility
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“Saudi Arabia is developing the electric vehicle manufacturing industry, and the current framework for the construction of electric vehicle charging infrastructure is at an early stage and requires significant investment. Saudi Arabia has signed a memorandum with the United Kingdom to reduce carbon emissions and support the Saudi Vision 2030, and both the countries cooperate and share technical expertise to develop technologies for electric vehicles and smart grids, which is expected to act as a positive factor for Saudi Arabia electric vehicle charging infrastructure market. Introduction of “On-the-go” charging” as well as wireless charging and manufacturing of advanced batteries with high capacity is expected to propel the Saudi Arabia electric vehicle charging infrastructure market till 2027”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Electric Vehicle Charging Infrastructure Market By Vehicle Type (Two- Wheeler, Passenger Car, Commercial Vehicle), By Type (AC, DC), By Charging Mode (Plug-in, Wireless), By Installed Location (Commercial, Residential), By Connector Type (Type 1, Type 2, UK 3-Pin, CHAdeMO, CCS, Others), By Type of Charging (Slow, Fast), By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of Saudi Arabia electric vehicle charging infrastructure market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia electric vehicle charging infrastructure market.
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