Saudi Arabia Electric Two-Wheeler Market to Grow with a CAGR of 8.14% in Saudi Arabia through to 2028
The rising need for
efficient urban mobility solutions to combat congestion, a growing
environmental awareness promoting eco-friendly transportation are the factors
driving market in the forecast period 2024-2028
According to
TechSci Research report, “Saudi Arabia Electric Two-Wheeler Market -
Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Saudi Arabia Electric Two-Wheeler Market stood at USD 1.72 Million in 2022
and is anticipated to grow with a CAGR of 8.14% in the forecast period, 2023-2028.
The
Saudi Arabia Electric Two-Wheeler Market is currently undergoing a significant
transformation, largely influenced by the country's urbanization and a growing
need for sustainable and efficient modes of transportation. In this evolving
landscape, electric scooters, mopeds, and motorcycles have emerged as practical
and eco-friendly alternatives for navigating the congested streets of Saudi
cities. Their compact design and agility make them well-suited for urban
commuting, offering a convenient solution to address traffic congestion and
enhance urban mobility.
The
Saudi government has taken proactive steps to promote the adoption of electric
two-wheelers. Supportive policies, incentives, and regulations have been
introduced to encourage the use of these vehicles. Additionally, the government
has invested in creating charging infrastructure and dedicated lanes, further
facilitating the adoption of electric two-wheelers in urban areas. These
measures underscore the commitment to establishing a favorable environment for
electric mobility.
Rising
environmental awareness among consumers is another significant driver of the
Electric Two-Wheeler Market in Saudi Arabia. These vehicles produce zero
tailpipe emissions, making them an eco-conscious choice for urban commuters. As
concerns about sustainability and environmental impact gain traction, electric
two-wheelers have become a symbol of responsible urban mobility.
Furthermore,
the market has seen the proliferation of ride-sharing and rental programs,
often facilitated through smartphone applications. These programs have
increased the convenience of urban mobility by providing users with access to
shared electric two-wheelers for short journeys, reducing the reliance on
personal vehicle ownership.
The
market is diverse, offering a range of electric two-wheelers, from scooters and
mopeds designed for daily commuting to powerful electric motorcycles suitable
for enthusiasts and long-distance travellers. This diversification caters to a
broad spectrum of consumer preferences, driving the market's growth and
contributing to the development of a modern and environmentally conscious
transportation ecosystem in Saudi Arabia.
Market
trends in the Saudi Arabia Electric Two-Wheeler Market are marked by several
notable developments. One prominent trend is the increasing diversification of
electric two-wheeler offerings, catering to a wide range of consumer
preferences. This includes compact electric scooters and mopeds for urban
commuting, as well as powerful electric motorcycles for enthusiasts and
long-distance travellers. Moreover, ride-sharing, and rental programs, often
facilitated through smartphone applications, are gaining popularity, offering
users convenient access to electric two-wheelers for short journeys.
Additionally, the government's supportive policies, infrastructure development,
and incentives have contributed to the market's growth. As sustainability and
environmental awareness rise, electric two-wheelers are becoming symbols of
responsible urban mobility, aligning with the global shift towards
eco-conscious transportation solutions. These trends collectively indicate a
promising future for the Saudi Arabian Electric Two-Wheeler Market as it
continues to evolve and shape the country's urban mobility landscape.
Browse over 26
market data Figures spread through 91 Pages and an in-depth TOC on
"Saudi Arabia Electric Two-Wheeler Market.”
Riyadh, the
capital and largest city of Saudi Arabia, serves as a prominent hub for
electric two-wheeler adoption. The region witnesses a higher concentration of
electric two-wheelers due to its dense urban population and increasing traffic
congestion. The government has been proactive in establishing charging
infrastructure and promoting electric mobility in Riyadh, making it a key
market for electric scooters and motorcycles.
Jeddah, a major
city on the Red Sea coast, also embraces electric two-wheelers, particularly
electric scooters and mopeds. The city's coastal climate and relatively shorter
commuting distances make it conducive to electric two-wheeler use. Jeddah's
tourism and leisure industry contribute to the popularity of electric
motorcycles for exploring the city's attractions.
The Eastern
Province, home to several industrial cities and a significant expatriate
population, experiences growing interest in electric two-wheelers. Electric
scooters and mopeds are preferred for daily commuting to workplaces, while
electric motorcycles are gaining traction among enthusiasts seeking a versatile
riding experience.
Smaller urban
centers across the country, including cities like Dammam, Khobar, and Mecca,
have seen a gradual increase in electric two-wheeler adoption. These regions
benefit from the overall expansion of charging infrastructure, government
incentives, and a growing environmental consciousness among residents.
Rural and
suburban areas, which are characterized by longer commuting distances and less
developed charging infrastructure, are gradually exploring electric
two-wheelers for local transportation needs. However, the adoption rate in
these regions is relatively slower compared to urban centers.
The regional
variations in the Saudi Arabian Electric Two-Wheeler Market highlight the
importance of tailoring marketing strategies, infrastructure development, and
vehicle offerings to meet the specific needs and preferences of consumers in
each region. Government initiatives and private sector investments play a
crucial role in promoting the sustainable growth of electric two-wheeler
adoption throughout the country.
Major companies
operating in Saudi Arabia Electric Two-Wheeler Market are:
- Barq EV
- ONE MOTO
Technologies Ltd
- BMW
Motorrad
- Hon Hai
Precision Industry Co.
- Tacita
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“The Saudi
Arabia Electric Two-Wheeler Market emphasizes the transformative potential of
these vehicles in addressing urban mobility challenges. As cities in Saudi
Arabia grapple with congestion and pollution, electric two-wheelers present a
sustainable and convenient solution. With the government's commitment to
infrastructure development and supportive policies, the market is poised for
significant growth. The ability of electric two-wheelers to reduce traffic
congestion, lower emissions, and offer cost-effective commuting aligns with
global trends towards sustainable urban transportation, making them a key
component of Saudi Arabia's modern mobility landscape” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Saudi
Arabia Electric Two-Wheeler Market By Vehicle Type (Electric Scooter &
Moped and Electric Motorcycle), By Battery Capacity (<25Ah and >25Ah), By
Range (Less than 50 Km, 50–100 Km, 100–150 Km, Above 150 Km), Regional, Competition,
Forecast & Opportunities, 2018-2028”, has evaluated
the future growth potential of Saudi Arabia Electric Two-Wheeler 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 Two-Wheeler Market
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