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Published - March 2023 Number Of Pages - 125
Electric vehicle (EV) chargers are used to charge EVs equipped with batteries and the electrical source needed to charge the batteries. These vehicles may be charged at one of three charging levels, namely level 1, level 2, and level 3.
Electric vehicles are less expensive than traditional petrol/diesel cars in terms of the purchase price as well as maintenance costs. The harmful gas-containing carbon footprints that are discharged into the atmosphere are decreased by electric automobiles.
The Saudi government has set ambitious targets to increase the adoption of electric vehicles, with a goal of having 1.5 million EVs on the road by 2030.
In 2019, the Saudi Electricity Company (SEC) announced plans to install more than 10,000 EV charging stations in the Kingdom by 2030. In addition, the government has introduced a number of incentives for EV owners, including exemptions from customs duties and other taxes.
Several international companies, including ABB and Siemens, have already entered the market and are working with local partners to install charging stations in major cities such as Riyadh and Jeddah.
In addition to Saudi Aramco’s plans, there are also several other companies operating in the EV charger market in Saudi Arabia, including ChargeNow, which offers a network of charging stations across the country, and E.ON, which has announced plans to expand its charging infrastructure in the Kingdom.
Government restrictions to reduce environmental pollution, a rise in the market share of electric cars, and a surge in government initiatives to provide infrastructure for electric vehicle charging are some of the key factors influencing the growth of the electric vehicle charger market.
The market for electric car charging infrastructure in Saudi Arabia is anticipated to expand at a remarkable rate in the next few years. Rising sales of electric vehicles and supportive government initiatives are the key factors promoting Saudi Arabia’s expansion of its electric vehicle charging infrastructure.
The increase in market participants investing in the construction of electric vehicle charging infrastructure and improvements to electric vehicle charging infrastructure are additional factors propelling the growth of the Saudi Arabian market for electric vehicle infrastructure over the next five years.
The government is making investments in creating alternative revenue streams and supporting the growth of other crucial industrial verticals in an effort to reduce its dependency on the oil and gas industry. At least thirty percent of all vehicles will be electric in Riyadh, according to a pledge from the Kingdom of Saudi Arabia.
To promote consumer acceptance of electric vehicles and a sustainable environment, the government is taking action. To increase the nation’s manufacturing of electric vehicles, the National Industrial Development Center (NIDC) for instance hopes to attract three to four original equipment manufacturers.
According to the Saudi Arabian Electric Vehicles Act, leading authorities are offering income tax exemptions, tax incentives, loans, and subsidies for the development and sale of electric vehicles.
The Saudi Arabia EV Charger Market accounted for $XX Million in 2022 and is anticipated to reach $XX Million by 2030, registering a CAGR of XX% from 2023 to 2030.
Electric car charging stations will soon be installed throughout the Kingdom, according to Electromin, a completely owned subsidiary of Petromin and a turnkey solutions provider for e-mobility.
At a ceremony in Riyadh, corporate representatives said that the network, which is driven by a customer-focused mobile application, consists of 100 sites around the Kingdom. It will make it possible for drivers to go a great distance with convenient access to EV charging stations.
In order to serve all consumer segments, Electromin’s charging network will provide a full range of services, including AC home/office chargers, DC fast chargers, and DC ultra-fast chargers.
With electric vehicles driving full force onto the scene in Riyadh and across Saudi Arabia, the government’s Vision 2030 is targeting a full 30% of passenger cars on Riyadh’s roads to be clean and sustainable electric vehicles by 2030.
To help drive domestic production, the Saudi Arabian government is acting as a major supporter by financially backing Lucid Motors and committing to purchase 100,000 EVs in the next ten years. To meet demand for charging infrastructure, the government, ABB E-mobility, and Electromin have also collaborated to set up a public EV charging network of 100 stations.
In Saudi Arabia, there are a total of 2,803 charging points, with most of them installed at Corporate and Residential places. The Residential charging points are similar in number to the total number of BEVs and PHEVs sold in Saudi Arabia of around 2,668 Units.
With chargers being used by multiple networks and multiple applications, The Saudi Arabia EV Charger Market is expected to show an increase in the EVF Chargers in the coming years. The main reasons can be the Green Initiative by the Saudi Arabia Government.
The introduction of Domestic Electric Vehicle ‘CEER’ will boost the Saudi Arabia EV Market. This EV would gain popularity in the market as it will be budget friendly and serves the initiative to support local manufacturers.
The Saudi Arabia EV Charger Market can be segmented into following categories for further analysis.
In order to create and set up integrated electric car charging stations in Saudi Arabia, TotalEnergies and Altaaqa Alternative Solutions, a division of the diverse Zahid Group located in Jeddah, has inked a preliminary agreement.
The businesses will collaborate under the Altaaqa EV brand name to create an EV charging infrastructure that includes all supplied equipment deployment phases, including engineering, project management, supply, installation, and technical operation.
In accordance with the agreement, Altaaqa EV will provide complete EV charging station solutions in bids to prime contractors and end customers.
The Saudi Arabian EV market will have access to the highest international standards of quality and safety thanks to the combination of TotalEnergies’ worldwide expertise in the EV charging industry and technology with Altaaqa’s commercial expertise in the power generating sector.
Siemens has partnered with Electromin, the e-Mobility unit of Saudi Arabia’s mobility solutions provider, Petromin, to supply electric vehicle (EV) chargers for the development of a Kingdom and region-wide charging network.
Schneider Electric Saudi Arabia and GREENER by IHCC have signed a partnership agreement to develop e-mobility infrastructure in the Kingdom’s nascent and fast-growing electric vehicle (EV) sector.
Al Sharif X, a Vehicle Charger Solutions, a subsidiary of Al Sharif Group Holding, signed an agreement with Petroly to provide its petrol-stations with electric vehicle chargers in its stations across the Kingdom of Saudi Arabia.
Electric vehicle chargers will be provided by Siemens for the Saudi Arabian charging network that Electromin plans.
All around the nation, Siemens will provide its ultra-fast EV chargers and wall- or pole-mounted equipment. Siemens has contracted to provide electric vehicle (EV) chargers to Electromin, the e-Mobility division of Saudi Arabia’s Petromin, a lubricants and automotive services company, for the planned construction of a Kingdom- and region-wide charging network.
The arrangement will guarantee supply of Siemens’ most cutting-edge EV infrastructure equipment for Electromin’s network, including the lightning-quick Sicharge D direct-current chargers and the clever Versicharge AC wall or pole mounted units that utilise alternating current. Additionally, Electromin is creating a consumer app that will enable users to find public charging stations, map out their route, and schedule and pay for sessions.
GCEO of Petromin Corporation and CEO of Electromin, “Electromin’s eMaaS solutions are helping to the growth of the Saudi EV ecosystem, and this relationship with Siemens will allow them to deliver the charging infrastructure and technology essential to promote EV adoption in the Kingdom.” “Their first phase of a large national strategy that extends beyond the implementation of EV charging sites across Saudi Arabia.”
Schneider Electric, a leader in the digital transformation of energy management and automation, has unveiled its revolutionary EVlink Smart Charger for the first time in Saudi Arabia and the region at this year’s EV Auto Show in Riyadh, the leading exhibition promoting electric mobility.
The Municipality of Al-Madinah Al-Munawwarah has signed an investment contract with Al-Sharif Holding Group, to establish and operate 12 charging platforms for electric vehicles (EV) at multiple locations in Al-Madinah.
