Saudi Arabia Electric Two-Wheeler Market Research Report, 2029

The electric two-wheeler market in Saudi Arabia is at a nascent stage but holds significant potential for growth and transformation in the coming years. As the largest economy in the Middle East and a major global oil producer, Saudi Arabia faces unique challenges and opportunities in the transportation sector. Historically reliant on fossil fuels for transportation, the country is increasingly recognizing the importance of diversifying its energy sources and reducing its carbon footprint. With a growing population, rapid urbanization, and increasing environmental concerns, there is a pressing need for sustainable transportation solutions in Saudi Arabia. The evolution of the electric two-wheeler market in the country has been influenced by several key factors. Initially, limited government incentives and infrastructure posed challenges for the adoption of electric vehicles, including two-wheelers. However, as global momentum towards clean energy and sustainability has grown, Saudi Arabia has begun to take steps to promote electric mobility. Government initiatives such as subsidies, tax incentives, and infrastructure development plans are being introduced to encourage the adoption of electric vehicles, including two-wheelers. Additionally, technological advancements in battery technology, improved performance metrics, and decreasing costs are making electric two-wheelers increasingly viable and attractive options for consumers in Saudi Arabia. Furthermore, the country's Vision 2030 initiative, which aims to diversify the economy and reduce dependence on oil, includes goals related to promoting renewable energy and sustainable transportation. As a result, there is growing interest and investment in electric mobility in Saudi Arabia, with various stakeholders working towards building the necessary infrastructure and raising awareness about the benefits of electric vehicles. Looking ahead, the potential of the electric two-wheeler market in Saudi Arabia is vast. With a large population of young and tech-savvy consumers, there is significant demand for convenient, cost-effective, and environmentally friendly transportation options. Electric two-wheelers have the potential to offer a practical solution for urban commuting, particularly in congested cities like Riyadh and Jeddah, where traffic congestion and air pollution are major concerns. Additionally, as battery technology continues to improve and charging infrastructure expands, the range and performance of electric two-wheelers are expected to increase, further enhancing their appeal to consumers. With the right policies, investments, and partnerships, Saudi Arabia has the opportunity to emerge as a leader in the electric mobility sector, offering innovative solutions to address transportation challenges while contributing to economic diversification and environmental sustainability. According to the research report "Saudi Arabia Electric Two Wheeler Market Research Report, 2029," published by Actual Market Research, the Saudi Arabia Electric Two Wheeler Market is projected to value at more than USD 0.04 Billion from 2024 to 2029. The electric two-wheeler market in Saudi Arabia is poised for growth, influenced by several key factors that reflect the country's unique economic, social, and environmental dynamics. Firstly, Saudi Arabia's Vision 2030 initiative, aimed at diversifying the economy and reducing dependence on oil, has placed a strong emphasis on sustainability and innovation, creating a conducive environment for the growth of the electric vehicle market, including two-wheelers. The government's commitment to promoting electric mobility is evident through various initiatives, such as subsidies, tax incentives, and infrastructure development plans, aimed at encouraging the adoption of electric vehicles. Additionally, the country's abundant solar energy resources present an opportunity for the development of renewable energy-powered electric vehicles, aligning with the Kingdom's goals of reducing carbon emissions and mitigating climate change. Furthermore, changing consumer preferences towards eco-friendly transportation options, coupled with concerns about air pollution and environmental sustainability, are driving interest in electric two-wheelers as a cleaner and greener alternative to traditional gasoline-powered vehicles. Technological advancements in battery technology and charging infrastructure are also playing a crucial role in driving market growth, addressing concerns such as range anxiety and charging accessibility. Moreover, the young and tech-savvy population of Saudi Arabia, coupled with rising urbanization rates and increasing traffic congestion in major cities, creates a conducive environment for the adoption of electric two-wheelers as practical and efficient solutions for urban mobility. Lastly, collaborations between government agencies, industry stakeholders, and research institutions are driving innovation, infrastructure development, and consumer education initiatives, further stimulating growth in the electric two-wheeler market. Overall, a combination of government support, changing consumer preferences, technological innovation, and market dynamics positions Saudi Arabia as a promising market for electric two-wheelers, with significant potential for further expansion in the coming years.

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In Saudi Arabia, the availability and development of charging infrastructure for electric two-wheelers are still in the nascent stages, with the density and accessibility of charging stations relatively low compared to more mature electric vehicle markets. While some progress has been made in major cities like Riyadh, Jeddah, and Dammam, where a few charging stations have been installed in commercial areas and public spaces, the overall infrastructure remains sparse, particularly in rural areas and smaller towns. This limited availability of charging infrastructure poses a significant challenge for electric two-wheeler riders, as it can lead to range anxiety and inconvenience, hindering the widespread adoption of electric mobility. Additionally, the presence of dedicated lanes or parking spaces for electric vehicles, including two-wheelers, is virtually nonexistent, further limiting the appeal and practicality of electric mobility in the kingdom. Government regulations and policies play a crucial role in shaping the electric two-wheeler market in Saudi Arabia, although the focus has primarily been on the broader automotive industry rather than specific incentives for electric vehicles. The government has announced plans to invest in infrastructure development and promote electric vehicle adoption as part of its Vision 2030 initiative, which aims to diversify the economy and reduce dependence on oil. However, concrete measures and incentives tailored specifically to the electric two-wheeler market are yet to be fully realized. Import/export regulations also impact the electric two-wheeler market, with stringent requirements for vehicle standards and safety ensuring that only high-quality electric vehicles enter the country. Moreover, Saudi Arabia's ambitious climate goals and commitment to reducing carbon emissions may drive the implementation of regulations aimed at promoting electric mobility in the future. Overall, while the electric two-wheeler market in Saudi Arabia holds potential, significant investments in charging infrastructure and supportive government policies and incentives will be crucial in driving widespread adoption and ensuring the sustainable growth of the market in the kingdom. In Saudi Arabia, the consumer demographic and behavior regarding the electric two-wheeler market are evolving slowly but steadily. While the market is still in its nascent stages, there is a growing interest among environmentally conscious consumers, particularly in urban areas such as Riyadh, Jeddah, and Dammam, who prioritize sustainability and seek alternative transportation options to reduce their carbon footprint. Moreover, with the government's initiatives to promote electric mobility and reduce dependence on oil, there is increasing awareness and acceptance of electric two-wheelers as viable transportation solutions. However, consumer behavior in Saudi Arabia is also influenced by cultural factors and preferences for larger vehicles, such as SUVs and luxury cars. Technologically, the Saudi electric two-wheeler market is witnessing gradual advancements, primarily in battery technology to improve energy efficiency, range, and charging infrastructure compatibility. With the increasing focus on smart mobility solutions, there is also a growing demand for connectivity features and digitalization in electric two-wheelers. In terms of the supply chain and manufacturing, Saudi Arabia is still developing its ecosystem for electric vehicles, with a mix of domestic manufacturers and international brands entering the market. Collaboration between industry stakeholders, research institutions, and government agencies is essential to drive innovation and establish a competitive supply chain for electric two-wheelers in Saudi Arabia. Overall, while the consumer interest in electric two-wheelers is growing, the market is still in the early stages of development, with significant potential for growth and technological advancement in the future. The electric two-wheeler market is dynamically evolving, segmented primarily by vehicle type, battery type, motor power, and usage. Starting with vehicle type, electric scooters dominate the segment, holding a significant market share. Electric scooters are favored for their convenience, ease of use, and suitability for urban commuting. They are popular among a wide range of consumers, including students, professionals, and urban dwellers seeking an eco-friendly mode of transportation. On the other hand, electric motorcycles are experiencing rapid growth, driven by advancements in technology and increasing consumer interest in performance-oriented electric vehicles. Despite their smaller market share compared to electric scooters, electric motorcycles appeal to enthusiasts and riders looking for higher speed and range. Moving on to battery type, lithium-ion batteries lead the market due to their superior energy density, longer lifespan, and faster charging capabilities. Lithium-ion batteries are preferred for their efficiency and performance, making them the go-to choice for manufacturers and consumers alike. Conversely, sealed lead-acid batteries are experiencing growth, particularly in entry-level and budget-friendly electric two-wheelers. While they offer lower energy density and shorter lifespan compared to lithium-ion batteries, sealed lead-acid batteries are more affordable, catering to price-sensitive consumers and markets. In terms of motor power, electric two-wheelers with a 48V motor power are leading the segment and experiencing continuous growth. These vehicles strike a balance between performance and efficiency, making them versatile for various applications, including urban commuting and short-distance travel. However, the market also offers electric two-wheelers with 60V and 72V motor power options, catering to specific performance requirements and preferences. Additionally, there are electric two-wheelers with other motor power configurations, offering niche solutions and specialized features for specific user needs. Lastly, electric two-wheelers are segmented by usage, with commercial applications leading the market and showing steady growth. Commercial electric two-wheelers are widely used for delivery services, logistics, and last-mile connectivity, offering cost-effective and environmentally friendly transportation solutions for businesses. Private usage of electric two-wheelers is also growing, driven by increasing consumer awareness, government incentives, and infrastructure development. Private users, including individuals and families, are adopting electric two-wheelers for personal transportation, leisure activities, and daily commuting needs.

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Kripa Shah

Senior Analyst

Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Electric Two-Wheeler market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Vehicle Type • Electric Motorcycle • Electric Scooter

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By Battery • Sealed Lead Acid (SLA) • Lithium-Ion By Motor Power • 48 V • 60 V • 72 V • Others By Usage • Commercial • Private The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Electric Two-Wheeler industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.