The network of equipment, technology, and charging stations that facilitates the charging of EV batteries is referred to as the electric vehicle (EV) charging infrastructure. It covers charging stations found in both public and private spaces, such as shops, residences, and transit hubs. Public spaces include parking lots and city streets. The electric grid and the technology—such as payment and invoicing systems, connection and data management tools, and customer support platforms—that oversees and controls the charging process are also included in the infrastructure. Offering EV owners accessible, dependable, and convenient charging alternatives is the aim of the infrastructure for EV charging, which encourages the use of environmentally friendly vehicles.
UAE Electric Vehicle Charging Infrastructure Market Driving Factors and Challenges
Electric vehicle (EV) charging infrastructure is growing as a result of the UAE government's aggressive objectives to lower greenhouse gas emissions and support environmentally friendly transportation. By 2030, 10% of all vehicles in the nation are planned to be electric vehicles (EVs), a goal established by the government that is predicted to drive up demand for infrastructure related to charging EVs. In addition, the government has started a number of programmes, such the Green Charger initiative, to promote the installation of EV charging stations across the nation. Private companies are also making investments in the sector; numerous new initiatives for charging stations are under progress. These tendencies are anticipated to boost the dependability of the charging infrastructure and expand the availability of charging stations.
CHALLENGES: High Costs of Installation and Upkeep to Restrict Private Sector Involvement in Charging Station Ownership and Operation - The process of constructing electric vehicle charging stations, which includes purchasing property, purchasing equipment, installing it, and maintaining it, involves a large financial outlay. Infrastructure for charging electric vehicles is expensive to establish, particularly for fast-charging stations that need large power supplies and heavy-duty electrical equipment. Growth in the market is hampered by the exorbitant cost, which deters private investors from funding projects with large upfront capital requirements and ongoing maintenance expenses.
The price of charging services would also increase due to expensive installation and operating costs, which would decrease customer demand for electric vehicles and slow down their adoption rate. To encourage private investment in electric vehicle charging infrastructure, the UAE government is currently taking a number of actions, including standardising the installation and operation of charging stations and making the regulatory policies public. This will help the country overcome this challenge in the coming years.
Impact of COVID-19 on UAE Electric Vehicle Charging Infrastructure Market
Between 2020 and 2021, the COVID-19 pandemic had a major effect on the expansion of the electric vehicle (EV) charging infrastructure sector in the United Arab Emirates. The demand for EVs and charging infrastructure decreased as a result of mobility restrictions and unstable economic conditions. Both the maintenance and installation of new charging stations were delayed by the outbreak. Additionally, the economic uncertainty brought on by the epidemic forced many consumers and businesses to postpone their investment plans. On the other hand, the industry is anticipated to eventually rebound and carry on growing as long as the UAE government keeps placing a high priority on environmental and sustainable efforts.
UAE Electric Vehicle Charging Infrastructure Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; ABB Industries (L.L.C.), Catec, Efacec Group, eMagine, FutureLink LLC (GreenParking), L-Charge, Orbix International LLC, Powertech Electrical Trading LLC, Regeny, Siemens LLC, and V Charge Trading LLC, Others.
UAE Electric Vehicle Charging Infrastructure Market Segmentation:
By Charger Type: Based on the Charger Type, UAE Electric Vehicle Charging Infrastructure Market is segmented as; Fast Charger, Slow Charger.
By Connector Type: Based on the Connector Type, UAE Electric Vehicle Charging Infrastructure Market is segmented as; CCS, CHAdeMO, Others.
By Level of Charging: Based on the Level of Charging, UAE Electric Vehicle Charging Infrastructure Market is segmented as; Level 1, Level 2, Level 3.
By Connectivity: Based on the Connectivity, UAE Electric Vehicle Charging Infrastructure Market is segmented as; Connected charging stations, non-connected charging stations.
By Application: Based on the Application, UAE Electric Vehicle Charging Infrastructure Market is segmented as; Commercial (Bus Charging Stations, Destination Charging Stations, Fleet Charging Stations, Highway Charging Stations, Others), Residential (Apartments, Private Houses).
By Region: This research also includes data for Abu Dhabi & Al Ain, Dubai, Sharjah & Northern Emirates.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.