Saudi Arabia Electric Vehicle Charging Infrastructure Market By Vehicle Type (Two- Wheeler, Passenger Car, Commercial Vehicle), By Type (AC, DC), By Charging Mode (Plug-in, Wireless), By Installed Location (Commercial, Residential), By Connector Type (Type 1, Type 2, UK 3-Pin, CHAdeMO, CCS, Others), By Type of Charging (Slow, Fast), By Region, Competition Forecast & Opportunities, 2028

Saudi Arabia electric vehicle charging infrastructure market is anticipated to register a robust CAGR during the forecast period, 2024-2028. Increasing sales of electric vehicles and favorable government initiatives are the primary factors driving the growth of Saudi Arabia electric vehicle charging infrastructure market. Also, the rise in the market players investing in the set-up of electric vehicle charging infrastructure and the ongoing advancements in electric vehicle charging infrastructure is the other factors boosting the Saudi Arabia electric vehicle charging infrastructure  market growth in the next five years.

Rising Sales of Electric Vehicle Drives the Market Growth

The high per capita income of consumers, rapid urbanization, and road infrastructure development enable the consumers to afford a quality lifestyle. Consumers prefer to invest in purchasing private vehicles for daily commute purposes. With growing awareness about the benefits of using electric vehicles and the support from the government, the demand for electric vehicles is expected to grow at a rapid rate. The electric vehicle charging infrastructure market in Saudi Arabia generated a revenue of USD0.71 million in 2021. The Kingdom of Saudi Arabia is working on developing an EV battery supply chain as the mining companies have begun searching for battery metals which are expected to fuel the growth of Saudi Arabia electric vehicle charging infrastructure market in the next five years. Modern Group and Hyzon Motors announced in May 2021 that they had signed a memorandum to construct an electric vehicle manufacturing plant that can produce up to 10,000 hydrogen fuel cell commercial vehicles annually in Saudi Arabia. The rise in the number of market players obtaining metal exploration licenses for electric vehicle battery manufacturing and the growing demand from the booming transportation and logistics industry is expected to accelerate the Saudi Arabia electric vehicle charging infrastructure market demand in the forecast period.

Supportive Government Policies Favors the Market Growth

The government is focusing on generating new income sources to reduce the dependency on the oil & gas industry and promoting the growth of other prominent industry verticals. The Kingdom of Saudi Arabia has pledged that at least 30% of total cars will be electric in Riyadh by 2030. At the Saudi climate conference, Crown Prince Mohammad bin Salman has announced to achieve net-zero carbon emissions by 2060. Vehicles using conventional sources of energy release harmful emissions into the environment and are considered as the major source of pollution. The government is taking steps to promote the adoption of electric vehicles among consumers to promote a sustainable environment, such as the National Industrial Development Center (NIDC) targets to attract 3-4 original equipment manufacturers to accelerate the production of electric vehicles in the country. In compliance with the vision of Saudi Arabia 2030, lading authorities are offering income tax rebates, tax incentives, loans, and subsidies on manufacturing and sales of electric vehicles. To facilitate the smooth running of electric vehicles, the government is investing in constructing adequate electric vehicle charging stations. With the support and huge funds for the construction of EV charging stations, the Saudi Arabia electric vehicle charging infrastructure market is expected to grow at a significant rate.

Construction of Smart City Supports the Market Growth

The ongoing construction of mega-city Neom city is expected to support only electric vehicles as it aims to achieve net-zero carbon emission and use only renewable sources of energy. To support the running of a large number of electric vehicles, the construction of EV charging stations is mandatory. Government authorities are expected to make hefty investments to make electric vehicle charging infrastructure in Neom city. The growing advancements in battery charging technology and the introduction of wireless chargers are expected to fuel the Saudi Arabia electric vehicle charging infrastructure market growth in the next five years.

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Market Segmentation

The Saudi Arabia electric vehicle charging infrastructure market is segmented into vehicle type, type, charging mode, installed location, connector type, type of charging, regional distribution, and company. Based on vehicle type, the market is divided into two- wheeler, passenger car, and commercial vehicle. Based on type, the market is divided into AC and DC. Based on charging mode, the market is divided into plug-in and wireless. Based on installed location, the market is divided into commercial and residential. Based on connector type, the market is divided into type 1, type 2, UK 3-Pin, CHAdeMO, CCS, and others. Based on type of Charging, the market is divided into slow and fast. To analyze the market based on the region, the Saudi Arabia electric vehicle charging infrastructure market is studied in major regions namely North & Central region, Southern region, Western region, and Eastern region.

Market Players

Electromaps S.L., Schneider Electric Saudi Arabia, NEC Saudi Arabia Ltd., ABB Ltd., and CATEC Mobility, are among the major market players operating in the Saudi Arabia electric vehicle charging infrastructure market.

Report Scope:

In this report, Saudi Arabia electric vehicle charging infrastructure market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Saudi Arabia Electric Vehicle Charging Infrastructure Market, By Vehicle Type:
• Two- Wheeler
• Passenger Car
• Commercial Vehicle
• Saudi Arabia Electric Vehicle Charging Infrastructure Market, By Type:
• AC
• DC
• Saudi Arabia Electric Vehicle Charging Infrastructure Market, By Charging Mode:
• Plug-in
• Wireless
• Saudi Arabia Electric Vehicle Charging Infrastructure Market, By Installed Location:
• Commercial
• Residential
• Saudi Arabia Electric Vehicle Charging Infrastructure Market, By Connector Type:
• Type 1
• Type 2
• UK 3-Pin
• CHAdeMO
• CCS
• Others
• Saudi Arabia Electric Vehicle Charging Infrastructure Market, By Type of Charging:
• Slow
• Fast
• Saudi Arabia Electric Vehicle Charging Infrastructure Market, By Region:
• Northern & Central
• Southern
• Eastern
• Western

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia electric vehicle charging infrastructure market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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