"Many countries are taking the lead in pursuing carbon neutrality targets and working to create a more sustainable and cleaner environment, including Qatar. As a result, vehicles powered by fossil fuels are gradually becoming obsolete in light of the growing consumer interest in electric vehicles (EVs) and government tax breaks and incentives. Qatar has been working to improve energy efficiency across various sectors. Electric vehicles offer the potential for greater energy efficiency compared to vehicles with internal combustion engines. Qatar has been striving to diversify its economy beyond oil and gas. The Qatari government has been actively promoting the adoption of electric vehicles by providing incentives and infrastructure support. Initiatives like installing electric vehicle charging stations and offering financial incentives for electric vehicle purchases demonstrate the government's commitment to promoting a culture of electric mobility. The country has been focusing on raising awareness about electric vehicles through public campaigns, events, and educational initiatives. These efforts aim to familiarise the population with the benefits of EVs, address common misconceptions, and encourage the adoption of cleaner transportation options. According to the research report ""Qatar Electric Vehicle Market Overview, 2027,"" published by Bonafide Research, the Qatar electric vehicle market is projected to reach a market size of more than USD 370 million by 2027. Passenger cars and commercial vehicles are the types of vehicles that are most likely to dominate the Qatar electric vehicle market. It is primarily due to substantial infrastructure investments and the government’s EV Strategy, which aims to electrify school, public, and metro feeder buses. As a result, a number of ongoing commercial, residential, and industrial construction projects taking place all over the country are increasing the demand for various construction tools and, as a result, commercial electric vehicles. Further, the market is segmented into two propulsion types of vehicles, including BEV (battery electric vehicle) and PHEV (plug-in hybrid electric vehicle). Among these types, BEV is anticipated to lead the market during the upcoming timeframe. However, PHEVs can have both electric and fuel-based driving ranges. It is helpful when insufficient charging infrastructure is available. To increase the demand for battery electric vehicles, the government and private entities are planning to arrange charging infrastructure all over the world to reduce emissions and keep the environment green. Plug-in hybrid electric vehicles are helping to decrease their prices, which boosts demand further. Karwa Motors, a subsidiary of the Qatar Public Transport Company (Mowasalat), has been involved in introducing electric buses and taxis in Qatar. They have been working towards a sustainable public transportation system in the country. Additionally, the Qatar Mobility Innovations Centre (QMIC) is a research and development centre focused on intelligent transportation systems. While they are not a vehicle manufacturer, they have been involved in research and development related to electric vehicles and charging infrastructure in Qatar. Major companies are also providing EVs. Such as Nissan, Tesla, BMW, Audi, and others through authorised channels. Local dealerships and car importers facilitate the availability of electric vehicle models for purchase in Qatar. A Memorandum of Understanding (MoU) was signed in September 2021 by Qatar and ABB, a Swedish-Swiss multinational corporation, to manufacture EV chargers in the country. In addition, the nation has established targets for renewable energy and sustainability, as well as diversifying substantial investments in the transition to an eco-friendly and sustainable economy. Qatar devised an EV strategy to install over 600 charging stations for electric buses for the 2022 FIFA World Cup. The strategy also stated that by 2030, there will be 15 thousand public charging stations and a conversion of 25 percent of the country’s public transit bus fleet to electric power. In addition, the electric vehicle market in Qatar is anticipated to expand by 2028 due to tax rebates, benefits like improved driving range and access to carpool lanes, as well as OEM participation in the provision of adequate charging infrastructure. Lack of EV Charging Infrastructure and Expensive Imports The Qatari electric vehicle market is currently confronted with a number of difficulties as a result of the presence of a few industries, the lengthy charging times, the limited driving range, and the expensive importation of a wide variety of EVs. EV adoption is significantly lower than that of strong markets due to the fact that only a small number of car markets import them. Unless significant advancements are made in EV size, cost-effectiveness, and charging infrastructure, this aspect is likely to impede market expansion in the upcoming years. Considered in this report • Geography: Qatar • Historic year: 2017 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Qatar market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type • Passenger Vehicle • Commercial Vehicle By population type • BEV • PHEV The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us. we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to organic food and beverage industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. "
Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globallyDownload Sample