Middle East and Africa EV Charging Infrastructure Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Platform (Hardware and Services), Hardware (AC Charger and DC Charger), Charger Type (Public Chargers and Private Chargers), and IEC Mode (2, 3, and 4)
The MEA EV charging infrastructure market is expected to grow from US$ 418.63 million in 2021 to US$ 882.02 million by 2028. It is estimated to rise at a CAGR of 11.2% from 2021 to 2028.
Along with the evolution of charging technology providers, accelerated technological developments in next-generation electric vehicles and their supporting components are leading to rapid advancements in EV charging technology. The operations of electric vehicle charging stations are transforming due to the rising penetration of artificial intelligence (AI), the internet of things (Io T), and cloud computing. Many key market players are beginning to shift their focus toward the development of smart charging stations, which enables data connection between stations and EVs. Several technology providers, including ABB and Delta Electronics, focus on next-generation EV charging technology to integrate cloud connectivity, AI, access via smartphone, and fast charging in their infrastructure. Furthermore, the emergence of new software solutions, such as cloud-based digital solutions for real-time fleet management and acceleration in electrification, is shaping the market. Therefore, charging systems designed for fast charging and high power, including the use of software solutions for a cloud-connected EV charging infrastructure, are expected to pave the way for the market's growth and become a prominent trend in the coming years, consequently driving the MEA market during the forecast period.
The MEA was heavily affected by the COVID-19 outbreak. The region has a smaller number of companies operating or offering market-specific solutions. Further, according to the Institute of Chartered Accountants in England and Wales (ICAEW), the Middle East economy has witnessed a sharp slowdown in 2020. The COVID-19 outbreak negatively impacted the region's infrastructure-related projects due to the supply chain's disruption. The transportation sector was also affected due to the non-movement of vehicles. However, in 2021, with the uplifting of lockdown restrictions and vaccination processes, EV sales in the region are regaining momentum, creating a favorable ecosystem for the EV charging infrastructure market in the region. Furthermore, the infrastructural readiness and high disposable income of the population of several stable economies in the Middle East, such as UAE, Saudi Arabia, Qatar, and Bahrain, creates ample opportunities for the governments to implement a resilient charging infrastructure for enabling electric mobility in the region. The impact of the COVID-19 pandemic on the region's EV charging infrastructure market has been more or less neutral.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA EV charging infrastructure market at a promising CAGR during the forecast period.
MEA EV Charging Infrastructure Market Revenue and Forecast to 2028 (US$ Million)
MEA EV Charging Infrastructure Market Segmentation
MEA EV Charging Infrastructure Market - By Platform
Hardware Services MEA EV Charging Infrastructure Market - By Hardware
AC charger Level 1 Charger (120 V) Level 2 Charger (240 V) DC Charger MEA EV Charging Infrastructure Market - By Charger Type
Public Chargers Private Chargers MEA EV Charging Infrastructure Market - By IEC Mode
2 3 4MEA EV Charging Infrastructure Market, by Country
South Africa Saudi Arabia UAE Rest of MEA MEA EV Charging Infrastructure Market - Companies Mentioned
Blink Charging Co. BP p.l.c. Charge Point, Inc. Delta Electronics, Inc. RWE AG Tesla, Inc. Tritium Webasto Group
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