Dublin, Nov. 11, 2024 (GLOBE NEWSWIRE) — The “Middle East and Africa (MEA) Electric Vehicle Charging Stations Market – Forecasts from 2024 to 2029” report has been added to ResearchAndMarkets.com’s offering.
The Middle East and Africa (MEA) Electric Vehicle Charging Stations market is estimated at US$162.531 million in 2024, expanding at a CAGR of 18.56% to attain US$380.669 million by 2029.
The growing market demand for zero-emissions vehicles, which include hybrid, plug-in hybrid, and electric vehicles, in the Middle East and Africa is estimated to propel the region’s electric vehicle charging infrastructure market forward. The zero-emission vehicle witnessed a massive growth in market demand, majorly with the increasing consumer priority to attain sustainability and increasing governmental initiatives to boost the sales of such vehicles. With the increase in the popularity and demand for zero-emission vehicles in the region, the need for an efficient and easily accessible charging network will grow significantly, boosting market growth.
Middle East and Africa (MEA) Electric Vehicle Charging Stations Market Drivers:
Increasing sales of electric vehicles
One of the major factors driving the Middle East and African electric vehicle charging station market forward is the increasing sales of electric or zero-emission vehicles in the region. The demand for zero-emission vehicles, which include electric vehicles, hybrids, and plug-in hybrids, grew significantly in the region, especially in developed and developing countries like the UAE, Saudi Arabia, Israel, and South Africa.
The National Association of Automobile Manufacturers of South Africa (NAAMSA), in its report, stated that 3,042 new energy vehicles (NEVs) were sold in the nation during the first quarter of 2024. This figure increased significantly from 1,665 units of NEVs sold during the same period in 2023. The organization further stated that in the first quarter of 2024, hybrid vehicles dominated the sales of the new energy vehicle category in the nation, with about 2,574 units sold, followed by 330 EVs and 138 plug-in hybrid vehicles sold. NAAMSA further stated that the total sales of NEVs in 2021 were recorded at 896 units, which expanded to 4,674 units in 2022, finally attaining the total sales of NEVs to 7,746 units in 2023.
The sales of zero-emission vehicles in the Middle Eastern region also witnessed massive growth. The International Energy Agency (IEA), in its report, stated that in 2021, 2,100 units of battery electric vehicles and 2,000 units of PHEVs were sold in the UAE. The sales of BEV and PHEV in the nation grew to 15,000 and 3,900 units, respectively, in 2022.
In 2023, the nation recorded sales of 23,000 units of BEVs and about 5,900 units of PHEVs. Similarly, in Israel, about 11,000 BEVs and 13,000 units of PHEVs were sold in 2021, which increased to 27,000 BEVs and 16,000 PHEVs in 2022. 2023 recorded a massive growth in the sales of BEVs, reaching 49,000 units, whereas the sales of PHEVs remained constant at 16,000 units in the year.
Report Coverage:
- Historical data & forecasts from 2022 to 2029
- Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
- Competitive Positioning, Strategies, and Market Share Analysis
- Revenue Growth and Forecast Assessment of segments and regions including countries
- Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)
Some of the key companies profiled in this Middle East and Africa (MEA) Electric Vehicle Charging Stations Market report include:
- Tesla
- ABB
- GreenParking (Future Link L.L.C.)
- Schneider Electric
- Regeny
- Wallbox Chargers
- Tyson Energy Technology Co., Ltd.
- Orbix
- Quikr EV
- Driivz Ltd
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 95 |
| Forecast Period | 2024 – 2029 |
| Estimated Market Value (USD) in 2024 | $162.53 million |
| Forecasted Market Value (USD) by 2029 | $380.67 million |
| Compound Annual Growth Rate | 18.5% |
| Regions Covered | Africa, Middle East |
Key Topics Covered:
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
3.1. Key Findings
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.4. Industry Value Chain Analysis
4.5. Analyst View
5. MIDDLE EAST AND AFRICA (MEA) ELECTRIC VEHICLE CHARGING STATIONS MARKET BY VEHICLE TYPE
5.1. Introduction
5.2. Battery Electric Vehicles (BEVs)
5.3. Plug-in Hybrid Electric Vehicle (PHEV)
5.4. Hybrid Electric Vehicle (HEV)
6. MIDDLE EAST AND AFRICA (MEA) ELECTRIC VEHICLE CHARGING STATIONS MARKET BY APPLICATION
6.1. Introduction
6.2. Commercial
6.3. Residential
7. MIDDLE EAST AND AFRICA (MEA) ELECTRIC VEHICLE CHARGING STATIONS MARKET BY CHARGING TYPE
7.1. Introduction
7.2. AC Charging (Level 1 and Level 2)
7.3. DC Charging
8. MIDDLE EAST AND AFRICA (MEA) ELECTRIC VEHICLE CHARGING STATIONS MARKET BY COUNTRY
8.1. Introduction
8.2. UAE
8.3. Israel
8.4. South Africa
8.5. Others
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Market Share Analysis
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Competitive Dashboard
10. COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/hkm7f8
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- Middle Eastern and African (MEA) Electric Vehicle Charging Stations Market
