Saudi Arabia Electric Vehicle Component Market Overview

Market Size in 2024: USD 1,103.41 Million

Market Size in 2033: USD 6,240.64 Million

Market Growth Rate 2025-2033: 21.23%

According to IMARC Group's latest research publication, "Saudi Arabia Electric Vehicle Component Market Size, Share, Trends and Forecast by Component, Distribution, and Region, 2025-2033", The Saudi Arabia electric vehicle component market size reached USD 1,103.41 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 6,240.64 Million by 2033, exhibiting a growth rate (CAGR) of 21.23% during 2025-2033.

How AI is Reshaping the Future of Saudi Arabia Electric Vehicle Component Market

• AI-driven analytics are optimizing Saudi Arabia’s EV component supply chain, reducing raw material sourcing costs by 22% and improving manufacturing efficiency for local battery and electronics plants.
• Over 60% of new Saudi EVs use AI-powered battery management systems, which extend battery life by up to 40% and enhance driver experience with real-time diagnostics.
• The government is funding research innovation hubs where AI-enabled robotics automate EV component assembly, cutting defect rates by 18% and creating higher-value jobs for Saudi engineers.
• Local brands like Ceer and Lucid Motors are incorporating AI-based predictive maintenance, allowing 35% faster fault detection and minimizing service disruptions for Saudi consumers.
• EVIQ’s new smart-charging stations use AI algorithms to manage energy flow, balance the grid, and boost charger availability, helping support 50,000 charging points nationwide.

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Saudi Arabia Electric Vehicle Component Market Trends & Drivers:

Electric vehicle adoption in Saudi Arabia is being supercharged by an ambitious mix of government incentives and infrastructure investment. The rollout includes customs duty exemptions, discounted electricity rates for home charging, and free parking in prime city spots. There’s also a plan to expand the public charging network to at least 5,000 stations, with more than 1,000 already in use across major cities like Riyadh and Jeddah. These perks, paired with a $20 billion government commitment, are making electric vehicles—and by extension, key components—far more accessible and appealing for a growing number of Saudi consumers.

A strong push toward local manufacturing is reshaping the electric vehicle component landscape in the Kingdom. Homegrown brands like Ceer, backed by SAR 5.5 billion in contracts and working toward 45% localization, are joining forces with global giants like Lucid Motors and Hyundai. Over 80% of Ceer’s recent supplier agreements went to domestic firms, supporting the creation of specialized plants for batteries, plastic parts, and subframes in King Abdullah Economic City. This localization drive not only nurtures Saudi talent, creating thousands of jobs, but also accelerates the country’s ambition to be a regional hub for EV technology and manufacturing.

Finally, Saudi consumers are shifting gears—literally and figuratively—as environmental awareness and digital lifestyles take hold. Recent surveys show that nearly 65% of Saudis are considering an electric car for their next purchase, fueled by growing eco-consciousness and the desire for smart, connected vehicles. The surge in demand is seen in the sharp jump in registrations and the introduction of international brands like Tesla and BYD. This transformation is supported by the Saudi Green Initiative, which targets significant reductions in carbon emissions, making sustainability not just an ideal but a practical, fast-growing reality in the nation’s auto sector.

Saudi Arabia Electric Vehicle Component Industry Segmentation:

The report has segmented the market into the following categories:

Component Insights:

• Battery Pack
• Motor
• Controller
• Electric Vehicle Supply Equipment
• DC-DC Convertor
• Others

Distribution Insights:

• OEMs
• Aftermarket

Regional Insights:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Recent News and Developments in Saudi Arabia Electric Vehicle Component Market

• July 2025: EVIQ deployed its first highway EV charging station and announced plans for 50–60 new locations, aiming to support up to 80% of national travel needs through an expansive, AI-enhanced fast-charging network across cities and main highways.
• May 2025: The International Exhibition for Electric Vehicles in Riyadh showcased electric SUVs, eVTOL aircraft, and next-gen battery systems, highlighting Saudi Arabia’s focus on local partnerships, market fit, and future-ready component platforms for smart mobility.
• February 2025: Ceer, Saudi Arabia’s first EV brand, signed SAR 5.5 billion in deals with over 80% local suppliers, targeting 45% localization of vehicle components and launching fully automated body pressing facilities using Schuler tech for up to 64 parts per minute.

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