Middle East Electric Vehicle Market Synopsis
Electric Vehicle Market in Middle East is expected to register significant growth over the coming years. Although oil constitutes a major source of national revenue and domestic fuel for several Middle Eastern countries, the respective governments are focusing on renewable energy and clean transportation technologies along with the implementation of economic and energy diversification plans. Moreover, favorable government policies, incentives, and lucrative offers to promote the adoption of electric vehicles are certain factors, which would drive the market growth significantly over the coming years in the region.
According to 6Wresearch, Middle East Electric Vehicle Market size is anticipated to register growth during 2020-2026. In the Middle East region, countries such as Saudi Arabia and UAE are becoming early adopters of electric vehicles. The Saudi Arabian Standards Organization (SASO) has plans to issue regulations for the use of electric vehicles. In UAE, the Road Transport Authority (RTA) has issued an advisory and working on the development of efficient charging stations in the country. The government's efforts are encouraging the usage of green energy and the promotion of electric vehicles by providing incentives to the consumer, which would propel the growth of the electric vehicle market in the Middle East.
Middle East electric vehicle market is anticipated to register sound revenues in the coming timeframe backed by the rising replacement of sustainable energy over conventional energy in order to reduce the environmental degradation ratio which is leading to creating a positive impact on the electric vehicle market during the forecast period.
Key Highlights of The Report:
- Middle East Electric Vehicle Market Overview
- Middle East Electric Vehicle Market Outlook
- Middle East Electric Vehicle Market Forecast
- Historical Data of Middle East Electric Vehicle Market Revenues for the Period 2016-2019
- Middle East Electric Vehicle Market Size and Middle East Electric Vehicle Market Forecast Until 2026
- Historical Data and Forecast of Saudi Arabia, UAE, Qatar, Oman, Kuwait, Bahrain, and Turkey Electric Vehicle Market Revenues for the period, 2016-2026
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