Market Size of united arab emirates hybrid and electric vehicles Industry
| Icons | Lable | Value |
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Study Period | 2016 - 2029 |
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Market Size (2024) | USD 1.34 Billion |
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Market Size (2029) | USD 5.19 Billion |
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Largest Share by Vehicle Type | Commercial Vehicles |
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CAGR (2024 - 2029) | 31.10 % |
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Fastest Growing by Vehicle Type | Commercial Vehicles |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
UAE Hybrid & Electric Vehicles Market Analysis
The United Arab Emirates Hybrid and Electric Vehicles Market size is estimated at USD 1.34 billion in 2024, and is expected to reach USD 5.19 billion by 2029, growing at a CAGR of 31.10% during the forecast period (2024-2029).
- Largest Segment by Vehicle Type - Commercial Vehicles : passenger vehicle acquires the largest sales in EV sales in the UAE, due to the increasing demand for passenger vehicles and there are very few models of other electric vehicles available in the UAE.
- Largest Segment by Fuel Type - BEV : In 2021, 2,730 units of BEV were sold in the UAE market. Most of the OEMs in the UAE have manufactured their passenger vehicles under the BEV variant due to the increase in fossil fuel prices.
- Fastest-growing Segment by Fuel Type - FCEV : Better fuel efficiency, and no range anxiety issues with a combination of traditional fuel and battery-powered engines are making PHEV the fastest-growing segment in electric vehicle market in UAE.
- Largest Segment by Country - UAE : Dubai has a growing number of EVs on the road due to development in charging infrastructure gradually, making Dubia largest across UAE electric vehicle market.
