The Latin America, Middle East and Africa Electric Vehicle Charger Market would witness market growth of 31.3% CAGR during the forecast period (2023-2030).
In recent years, the automotive industry has witnessed a paradigm shift towards sustainability and environmental consciousness, driven by the pressing need to combat climate change and reduce greenhouse gas emissions. One of the most pivotal components of this transformative journey is the rapid proliferation of electric vehicles (EVs). As EVs become increasingly popular, the market has emerged as a critical enabler of this green revolution.
Electric vehicles are revolutionizing the way transportation is perceived. They provide an eco-friendly substitute for conventional internal combustion engine vehicles, emitting no tailpipe emissions and substantially decreasing carbon footprint. Moreover, the widespread adoption of electric vehicles hinges not only on the innovation and affordability of the vehicles themselves but also on developing a robust charging infrastructure that supports the needs of EV owners.
Additionally, the UAE government has been actively promoting the adoption of electric vehicles and sustainability practices. In Dubai, for instance, the Dubai Supreme Council of Energy launched the "Green Mobility Initiative" to encourage businesses to transition to electric and hybrid vehicles. The initiative includes incentives such as reduced registration fees for electric vehicles and exemptions from parking fees.
Furthermore, Dubai Electricity and Water Authority (DEWA), which is steering the emirate’s clean energy transition, aims to grow the city’s network of public charging stations by 170% in less than three years from 2023. By 2025, EV Green Charging Stations in Dubai will increase from the current 370, with more than 680 charging points, to 1,000 Green Charging Stations. Therefore, these factors will pose a lucrative prospect for the market in the LAMEA region.
The Brazil market dominated the LAMEA Electric Vehicle Charger Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,078.7 Million by 2030. The Argentina market is showcasing a CAGR of 31.9% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 30.2% during (2023 - 2030).
Based on End User, the market is segmented into Residential and Commercial. Based on Vehicle Type, the market is segmented into Plug-in Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV) and Hybrid Electric Vehicle (HEV). Based on Charging Type, the market is segmented into On-board Chargers and Off-board Chargers. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Electric Vehicle Charger Market is Projected to reach USD 53.1 Billion by 2030, at a CAGR of 28.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Robert Bosch GmbH, AeroVironment, Inc, BorgWarner Inc, Silicon Laboratories, Inc., BP p.l.c., ChargePoint, Inc, Schaffner Holding AG, Siemens AG, and Chroma ATE Inc.
By End User
By Vehicle Type
By Charging Type
By Country
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