GCC Electric Vehicles Market to Reach 97.3 Thousand Units by 2033 | Industry Growing at a CAGR of 9.3%

Electric Vehicles Market in GCC 2025:

How Big is the GCC Electric Vehicles Industry?

The GCC electric vehicles market size reached 40.3 Thousand Units in 2024. Looking forward, IMARC Group expects the market to reach 97.3 Thousand Units by 2033, exhibiting a growth rate (CAGR) of 9.3% during 2025-2033.

Base Year: 2024
Historical Years: 2019-2024
Market Size in 2024: 40.3 Thousand Units
Market Size in 2033: 97.3 Thousand Units
Market Growth Rate (CAGR) 2025-2033: 9.3%

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GCC Electric Vehicles Market Trends and Drivers:

The GCC electric vehicle market is picking up strong momentum on the strength of a combination of green consciousness, policy support, and innovation that is transforming the mobility profile of the region. Essentially, growing concerns about carbon emissions and climate change have prompted governments as well as consumers to turn towards cleaner modes of transport, with EVs emerging as an important part of country sustainability strategies.

Moreover, more efforts towards fuel diversification by GCC countries, particularly the oil-dependent ones, have resulted in forward-looking investments in renewable power and EV infrastructure. This trend finds further boosting by multiple government initiatives such as subsidies, exemptions on import duty, and investment in public charging points, enhancing accessibility and lowering the cost of owning EVs. Additionally, the growing charging infrastructure, especially in cities and on highways, is mitigating range anxiety and driving consumers to switch from internal combustion engine vehicles.

Additionally, increasing consumer demand for technologically advanced and eco-friendly mobility solutions is driving demand, especially among the younger, tech-savvy consumer groups that prioritize innovation and sustainability. Parallelly, collaborations of international EV manufacturers with local entities are introducing top-of-the-range models and promoting knowledge and technology transfer to promote domestic industry potential. Furthermore, new entrants and diversification of products, from luxury EVs to mainstream compact models, are improving customer choice and market appeal.

Moreover, the convergence of EVs with smart city projects and digital mobility platforms is fueling the move towards intelligent transportation systems. Indeed, the general adoption of mobile applications for trip planning, EV charging point location, and live updates is further optimizing the user experience. Likewise, improvements in battery performance, range, and charging speed through technology are lowering adoption barriers and enhancing overall consumer trust in EVs. Essentially, economic diversification, environmental awareness, technological preparedness, and dynamic regulatory encouragement together are providing a solid base for long-term growth in the GCC electric vehicles market, and one of the region's most dynamic segments in the automotive sector.

GCC Electric Vehicles Market Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Component:

• Battery Cells and Packs
• On-Board Charger
• Fuel Stack

Breakup by Charging Type:

• Slow Charging
• Fast Charging

Breakup by Propulsion Type:

• Battery Electric Vehicle (BEV)
• Fuel Cell Electric Vehicle (FCEV)
• Plug-In Hybrid Electric Vehicle (PHEV)
• Hybrid Electric Vehicle (HEV)

Breakup by Vehicle Type:

• Passenger Vehicles
• Commercial Vehicles
• Others

Breakup by Country:

• Saudi Arabia
• UAE
• Qatar
• Bahrain
• Kuwait
• Oman

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Competitive Landscape:

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

Key highlights of the Report:

• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.

IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

This release was published on openPR.