KSA EV Charging Equipment Market is expected to grow@ 88% CAGR in 2022-2027F owing to the increasing investments under Vision 2030 by the government: Ken Research
In 2018, Saudi officials began permitting residents to import EVs for personal use. The market for electric vehicles saw a rise in the present years due to the lifting of the ban imposed on the import of EVs in the Kingdom. Additionally, the general public's growing awareness about the pollution levels is also driving the adoption of EVs. The market for EV charging equipment in Saudi Arabia is dominated by imports from various regions around the world. The majority of the equipment is brought from Europe, specifically Germany, France, and the Netherlands. Portable chargers, public charging stations, and private charging stations are the three forms of charging available for EVs in the market.
2. The KSA area experienced significant growth in the EV category as a result of government's measures to diversify the country's economy and lessen the reliance on oil.
To learn more about this report Download A Free Sample: https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2Mjg4
Total energy consumption in KSA exceeded 289 TWh in 2020, with a high of 61.7 GW and 53.5 GW generating capacity. As a remedy to this dilemma, Vision 2030 developed the King Salman Renewable Energy Resources and Initiative to empower new energy resources. In addition to this, KSA is one of the Middle East's fastest-growing economies, which allows the government to diversify and experiment when it comes to investing in new areas. More than 80% of the population lives in cities and is aware of regional trends and social duties, opening the path for environmentally friendly technologies such as EVs to thrive in the market. Electric vehicles are viewed as a solution to the problem of climate-related difficulties. The use of EVs produces no greenhouse gas emissions. This notion has grown in popularity in recent years as people become more conscious of the importance of living in an environmentally responsible manner.
3. The EV Charging Equipment Market in KSA is expected to grow by CAGR of ~88% by 2027F due to increasing EV and EV charging infrastructure along with companies offering better charging solutions in the country.
The EV charging equipment market in Saudi Arabia is estimated to produce a CAGR of ~88% by 2027 as the industry grows, owing to an increase in the number of electric cars and greater investment in charging infrastructure. With new manufacturers joining the market and a large percentage of the region's urban population, the number of electric vehicles in Riyadh is likely to grow. Furthermore, logistic organizations throughout the world are under constant pressure to minimize their carbon footprint and implement more eco-friendly solutions, which is projected to contribute to the growth of commercial vehicles in the area.
4. Lack of Repair and Maintenance Services with Underdeveloped Charging Infrastructure in the Kingdom of Saudi Arabia are some of the barriers in the adoption of EVs by the population.
Visit this Link Request for a custom report: https://www.kenresearch.com/ask-customization.php?Frmdetails=NTk2Mjg4
Saudi Arabia has a desert temperature, and the constant usage of air conditioning quickly drains the battery. Drivers are hesitant to go longer distances, and recharge stations are needed on all major roadways. Additionally, electric vehicles consume a large amount of electricity in a short period of time, creating instability in power networks. In the Kingdom of Saudi Arabia, summer power usage might surpass supply, and the introduction of EVs can place a further strain on the system. There are currently few charging stations in KSA, which has a direct influence on EV sales in the region. Therefore, because of the paucity of charging stations, consumers are hesitant to purchase any electric car.
For more insights on the market intelligence, refer to below link:-
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release KSA EV Charging Equipment Market is expected to grow@ 88% CAGR in 2022-2027F owing to the increasing investments under Vision 2030 by the government: Ken Research here
News-ID: 2979586 • Views: 280
More Releases from Ken Research Pvt .Ltd
Rising fire accidents along with the growing construction of new buildings to dr …
1. Total Number of Fire Accidents growing along with new construction projects in Dubai, 2018-2021 Being most prone to fire accidents, retail and commercial are often categorized as Category risk "A". Category A means a more sophisticated fire station in vicinity, and more powerful and efficient firefighting equipment for civil defense services. Majority fire accidents in UAE are caused due to incidents or sparks, and defaults not being informed to the
Future Outlook of Vietnam Medical Education Market: Ken Research
1. Disparity in Public & Private Universities, Expensive Course Structure and No Designated Board to conduct Exams have created disparity in the education system in Vietnam Most of the Universities do not conduct interviews for the admission process. This creates disparity and reduces the chances to improve upon one-time high school scores (National Entrance Examination). Each university has their own curriculum and has autonomy to design their own syllabi. Medical degrees are
Increasing public awareness as well as increase in healthcare spending by the Go …
Thailand Clinical Laboratory Market is in the growing stage, being driven by increasing healthcare spending by aging population, expanding healthcare spending by the Government, growth in non-communicable disease and chronic diseases and increasing public awareness. The private hospital sector has been undergoing structural change and the effects of this are becoming increasingly clear. Government Health Initiatives and Health Insurance Programs was and will be the major chunk of health expenditure in Thailand. Through
Bahrain Remittance Market Outlook to 2027F: Ken Research
What is the Size of Bahrain Remittance Industry? Bahrain Remittance market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027F. The Bahrain Remittance Market is largely driven by the increasing inflow of expatriates, digitization, e wallets and major government investments. Bahrain has been an expat hotspot for decades because of multi-cultural environment and a progressive nation which is known to offer a
More Releases for EVs
Enhanced Vision System (EVS) Market Research Technology Outlook 2020-2026
The report titled “Enhanced Vision System (EVS) Market” report will be very useful to get a stronger and effective business outlook. It provides an in-depth analysis of different attributes of industries such as trends, SWOT analysis, policies, and clients operating in several regions. The qualitative and quantitative analysis techniques have been used by analysts to provide accurate and applicable data to the readers, business owners and industry experts. The global Enhanced
Global Hub Motor for EVs Market|| key player- Hub Motor for EVs Market, ABEGG, S …
Market Research Reports Search Engine (MRRSE) has recently updated its massive report catalogue by adding a fresh study titled “Global Hub Motor for EVs Market Trend Evaluation & Future Forecast during the Period 2019-2026”. This business intelligence study encapsulates vital details about the market current as well as future status during the mentioned forecast period of 2026.The report also targets important facets such as market drivers, challenges, latest trends, and
Technological Advancements Of Global Micro EVs Market - 2023
Researchmoz added Most up-to-date research on "Global Micro EVs Market by Manufacturers, Countries, Type and Application, Forecast to 2023" to its huge collection of research reports. A micro electric vehicle (EV) is a four-wheeled electric powered micro vehicle with an attainable speed of more than 20 miles per hour but not more than 25 miles per hour (in China, not more than 70 kilometers per hour) on a paved surface, and
Global Micro EVs Market 2018 - Tangjun, Yamaha, Fulu, Xinyuzhou
Global Micro EVs Market 2018 Analysis Report audits a Market Regions, Product Categories, with Sales, Business Revenue, Goods cost, Micro EVs piece of the overall industry and Growth patterns, concentrating on driving Micro EVs industry players, showcase size, request and supply examination, utilization volume, Forecast 2018 to 2022. The major regions present in the continents like United States, Germany, Japan and China and their contribution to global Micro EVs market is
Global Micro EVs Market 2018 - Lichi, Baoya, Tangjun, Yamaha
Global Micro EVs Market 2018 Analysis Report audits a Market Regions, Product Categories, with Sales, Business Revenue, Goods cost, Micro EVs piece of the overall industry and Growth patterns, concentrating on driving Micro EVs industry players, showcase size, request and supply examination, utilization volume, Forecast 2017 to 2025. The major regions present in the continents like United States, Germany, Japan and China and their contribution to global Micro EVs market is
Global Hybrid Cars and EVs Sales Market Report 2017
In this report, the global Hybrid Cars and EVs market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Geographically, this report split global into several key Regions, with sales (K Units), revenue (Million USD), market share and growth rate of Hybrid Cars and EVs for these regions, from