Saudi Arabia Electric Vehicle Market to 2032
Overview
The Saudi Arabia Electric Vehicle Market is expected to reach a 67,555.67 USD Billion by 2032 and is projected to grow at a CAGR of 32.87% from 2025 to 2032.
Revenue, 2024 (USD Billion)
13,679.83
Forecast, 2032 (USD Billion)
67,555.67
CAGR, 2024 - 2032
32.87%
Report Coverage
Saudi Arabia
Saudi Arabia Electric Vehicle Market 2018-2032 USD Billion
Saudi Arabia Electric Vehicle Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 13,679.83 USD Billion
- Projected Market Size (2032): 67,555.67 USD Billion
- CAGR (2025-2032): 32.87%
Key Findings of Saudi Arabia Electric Vehicle Market
- The Saudi Arabia Electric Vehicle Market was valued at 13,679.83 USD Billion in 2024.
- The Saudi Arabia Electric Vehicle Market is likely to grow at a CAGR of 32.87% during the forecast period of 2024 to 2032.
- In 2024, the Largest segment Mid-Priced in Class Segment accounted for the largest share of the market with a revenue of 8,871.86 USD Billion
- The fastest growing segment Hybrid Electric Vehicle(HEVs) in Propulsion Type Segment grew Fastest with a CAGR of 34.97% during the forecast period from 2024 to 2032.
Saudi Arabia Electric Vehicle Market Scope
Saudi Arabia Electric Vehicle Market Segmentation & Scope
Charging Station Type
- Super Charging
- Normal Charging
Propulsion Type
- Fuel Cell Electric Vehicle(FCEVs)
- Hybrid Electric Vehicle(HEVs)
- Plug-in Hybrid Electric Vehicles (PHEVs)
- Battery Electric Vehicle (BEV)
Component
- Others
- Infotainment System
- On-board Charger
- Battery Cells & Packs
Class
- Luxury
- Mid-Priced
Power Train
- Combined Hybrid
- Parallel Hybrid
- Series Hybrid
Vehicle Type
- Commercial Vehicles
- Two Wheelers
- Passenger Cars
Saudi Arabia Electric Vehicle Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2021 |
| Unit | Revenue in USD Billion |
| Market Value in 2024 | 13,679.83 USD Billion |
| Market Value in 2032 | 67,555.67 USD Billion |
| CAGR (2025-2032) | 32.87% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Charging Station Type,Propulsion Type,Component,Class,Power Train,Vehicle Type |
Regional Insights:
-
Leading Market (2024-2032): Saudi Arabia, leading in terms of revenue 13,679.83 USD Billion in 2024
- Key Country: Saudi Arabia, leading in terms of revenue with value of 13,679.83 USD Billion in 2024.
Segments and Scope
-
Saudi Arabia Electric Vehicle Market to 2032, By Charging Station Type
- Normal Charging is the largest segment in Saudi Arabia Electric Vehicle Market to 2032 with a revenue of 8,856.97 USD Billion in the year 2024.
- Normal Charging is the Fastest growing segment in Saudi Arabia Electric Vehicle Market to 2032 with a Growth rate of 33.71 % in forecast period 2025-2032.
-
Saudi Arabia Electric Vehicle Market to 2032, By Propulsion Type
- Battery Electric Vehicle (BEV) is the largest segment in Saudi Arabia Electric Vehicle Market to 2032 with a revenue of 7,036.92 USD Billion in the year 2024.
- Hybrid Electric Vehicle(HEVs) is the Fastest growing segment in Saudi Arabia Electric Vehicle Market to 2032 with a Growth rate of 32.66 % in forecast period 2025-2032.
-
Saudi Arabia Electric Vehicle Market to 2032, By Component
- Battery Cells & Packs is the largest segment in Saudi Arabia Electric Vehicle Market to 2032 with a revenue of 6,773.84 USD Billion in the year 2024.
- Battery Cells & Packs is the Fastest growing segment in Saudi Arabia Electric Vehicle Market to 2032 with a Growth rate of 33.87 % in forecast period 2025-2032.
-
Saudi Arabia Electric Vehicle Market to 2032, By Class
- Mid-Priced is the largest segment in Saudi Arabia Electric Vehicle Market to 2032 with a revenue of 8,871.86 USD Billion in the year 2024.
- Mid-Priced is the Fastest growing segment in Saudi Arabia Electric Vehicle Market to 2032 with a Growth rate of 33.08 % in forecast period 2025-2032.
-
Saudi Arabia Electric Vehicle Market to 2032, By Power Train
- Series Hybrid is the largest segment in Saudi Arabia Electric Vehicle Market to 2032 with a revenue of 6,649.13 USD Billion in the year 2024.
- Combined Hybrid is the Fastest growing segment in Saudi Arabia Electric Vehicle Market to 2032 with a Growth rate of 31.61 % in forecast period 2025-2032.
-
Saudi Arabia Electric Vehicle Market to 2032, By Vehicle Type
- Passenger Cars is the largest segment in Saudi Arabia Electric Vehicle Market to 2032 with a revenue of 7,170.50 USD Billion in the year 2024.
- Passenger Cars is the Fastest growing segment in Saudi Arabia Electric Vehicle Market to 2032 with a Growth rate of 34.38 % in forecast period 2025-2032.
Saudi Arabia Electric Vehicle Market Company Share Analysis
| Company Name |
|
||
| Ford Motor Company | |||
| Tesla | |||
| General Motors | |||
| Nissan Motor Co., Ltd. | |||
| TOYOTA MOTOR CORPORATION | |||
Saudi Arabia Electric Vehicle Market Geographical Sales Distribution, 2018-2032 USD Billion
Saudi Arabia Electric Vehicle Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The Saudi Arabia Electric Vehicle Market is segmented based on Segmentation Charging Station Type,Propulsion Type,Component,Class,Power Train,Vehicle Type.
Saudi Arabia Electric Vehicle Market was valued at USD 13,679.83(Revenue in USD Billion) in 2021.
Saudi Arabia Electric Vehicle Market is projected to grow at a CAGR of 32.87% during the forecast period of 2024 to 2032.
The Mid-Priced segment is expected to dominate the Saudi Arabia Electric Vehicle Market, holding a largest market share of 8,871.86 USD Billion in 2024
Saudi Arabia Electric Vehicle Market Scope
Saudi Arabia Electric Vehicle Market Segmentation & Scope
Charging Station Type
- Super Charging
- Normal Charging
Propulsion Type
- Fuel Cell Electric Vehicle(FCEVs)
- Hybrid Electric Vehicle(HEVs)
- Plug-in Hybrid Electric Vehicles (PHEVs)
- Battery Electric Vehicle (BEV)
Component
- Others
- Infotainment System
- On-board Charger
- Battery Cells & Packs
Class
- Luxury
- Mid-Priced
Power Train
- Combined Hybrid
- Parallel Hybrid
- Series Hybrid
Vehicle Type
- Commercial Vehicles
- Two Wheelers
- Passenger Cars
Frequently Asked Questions
The Saudi Arabia Electric Vehicle Market is segmented based on Segmentation Charging Station Type,Propulsion Type,Component,Class,Power Train,Vehicle Type.
Saudi Arabia Electric Vehicle Market was valued at USD 13,679.83(Revenue in USD Billion) in 2021.
Saudi Arabia Electric Vehicle Market is projected to grow at a CAGR of 32.87% during the forecast period of 2024 to 2032.
The estimated market value of the Saudi Arabia Electric Vehicle Market for final year is USD 67,555.67 (USD Billion).
Saudi Arabia Electric Vehicle Market Company Profiling
Frequently Asked Questions
The Saudi Arabia Electric Vehicle Market is segmented based on Segmentation Charging Station Type,Propulsion Type,Component,Class,Power Train,Vehicle Type.
Saudi Arabia Electric Vehicle Market was valued at USD 13,679.83(Revenue in USD Billion) in 2021.
Saudi Arabia Electric Vehicle Market is projected to grow at a CAGR of 32.87% during the forecast period of 2024 to 2032.
The estimated market value of the Saudi Arabia Electric Vehicle Market for final year is USD 67,555.67 (USD Billion).
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