The market landscape of Electric trucks in the GCC

The GCC Electric Vehicle Market value is estimated at USD 3.66 billion in 2023, and it's projected to reach USD 8.75 billion by 2028, growing at a CAGR of 19.03% over the forecast period from 2023 to 2028.

According to TechSci Research report-GCC Electric Vehicle Market, the GCC Electric Vehicle Market achieved a valuation of USD 2,794.83 million in 2022 and is poised to reach USD 10,684.70 million by 2028.

The automotive industry in the GCC region relies heavily on conventional internal combustion engines, given the region's significant crude oil production and its prominent role in the economy. Nevertheless, the growing global focus on environmental issues and the technological transition to electric vehicles is projected to stimulate the adoption of EVs, particularly hybrid electric vehicles, in the GCC.

Over the short term, the absence of an adequate charging infrastructure and limited government investment in this regard has acted as a barrier to the widespread acceptance of electric vehicles within the region. Nonetheless, a shift is underway, with several companies taking the initiative to establish charging facilities, thereby bolstering the demand in the market.

For instance, in November 2021, Marriott Riyadh Diplomatic Quarter announced the first electric vehicle charging station for commercial & residential use in Saudi Arabia. This move aligns with Marriott International's sustainability goals & commitment.

In the coming years, the sight of electric trucks silently gliding through bustling GCC cities and cruising along desert highways will become more commonplace. This transformation is not only about transportation; it's a testament to the GCC's commitment to a sustainable and prosperous future. The landscape is changing, and the journey is electrifying.