EV Charging Equipment Market is expected to expand at a CAGR of 34.2% during 2021 and 2026 in UAE: Ken Research

ByVijay Kumar
UAE Electric Vehicle Charging Equipment Market Forecast-34ed231d

1. The UAE has spearheaded the promotion and adoption of Electric vehicles (EV) to diversify its economy away from oil

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The UAE leads the Middle East and North Africa (MENA) in the adoption of electric vehicles to diversify its economy from oil.

Approximately 30% of UAE residents would consider buying an electric vehicle to contribute to narrowing emissions.

A similar percentage believe that EVs offer much better value for money in the longer run than conventional cars running on petrol or diesel.

2. Public Charging through AC Chargers is the most preferred choice of charging in the UAE for the year 2021 contributing to more than 80% of the market

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  • Dubai Electricity & Water Authority (DEWA) is providing free charging for all Electric Vehicles at public charging stations in UAE
  • Home Charging captured lower share of the market followed by Private Charging with negligible market share due to high capital Investment.
  • Public Charging method contributed highest revenue in 2021 constituting more than 75% of the market share.

3. The UAE Electric Vehicle Charging Equipment Market relies heavily on Imports accumulating more than 90% of the revenue share

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  • Electric Vehicle Charging Equipment revenue can be segmented into Domestic Manufacture, Domestic Assembly and Imports.
  • In this category, imports clearly dominate the sector by contributing more than 90% of the market in the year 2021.
  • This is due to the fact that UAE relies heavily on the imports of electric vehicles and its parts.
  • Promoting itself as a country committed to a low-carbon and sustainable economy, the UAE has an ambitious goal to boost its EV market in the next 20 years.

4. The EV Green Charger initiative, launched by Dubai Electricity and Water Authority (DEWA), provides a network of electric vehicle chargers across Dubai

  • The EV Green Charger initiative, launched by Dubai Electricity and Water Authority (DEWA), provides a network of electric vehicle chargers across Dubai.
  • This initiative supports Dubai efforts to provide innovative and sustainable transport solutions as part of the Dubai Green Mobility Strategy 2030.
  • EV Green Chargers are smart units which are connected through a Charge Point Management System (CPMS) with status and locations of chargers available via the DEWA website and smart app.
  • Customers may also start and end their charge cycles via a card-less customer experience by following the steps on their mobile device once they scan the QR code available at the charging station.

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