Italy electric car market is projected to augment at a CAGR of more than 20.0% during the forecast period, 2019-2025. The Italian electric car market is comparatively small and has been increasing exponentially for the last couple of years. In 2019, the electric car market augmented with a growth of 76% YoY to 17,100 electric cars as compared to 9,750 cars in 2018. The country is the fourth largest market for passenger cars after Germany, France, and UK due to which a significant opportunity can be witnessed in the near future. Multiple subsidies are offered by the government to promote electric cars in the country. ‘Eco tax’ as a penalty was introduced in Italy for using a polluting (fossil) vehicle. In addition, the government offers a subsidy of $4,400 for the vehicle that has CO2 emission rating up to 70 g/km whereas a subsidy of $1,650 for vehicles that emit between 21 and 70 g/km. An additional incentive is also provided if an older vehicle is scrapped.
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The market is analyzed based on vehicle type, propulsion technology, and battery type. Based on vehicle type, the market is further analyzed into hatchback, sedan, and SUV. Some of the most selling car models in the country include Renault ZOE, Nissan LEAF, Smart Fortwo, Smart Forfour, Tesla Model 3, and Tesla Model X. On the basis of propulsion technology, the market is bifurcated into battery-electric car and plug-in-hybrid electric car. As per the European Automobile Manufacturers Association, in 2019 around 10,660 battery-electric cars were sold in the country, with a growth of 113% YoY whereas around 6,500 plug-in hybrid cars were sold in the country with a growth of around 36% YoY in 2018. By battery type, the market is sub-segmented into NiMH electric car, Li-Ion electric car, and other battery-electric cars. Li-ion battery car market is expected to cover a major share in the near future.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Italy Electric Car Market by Vehicle Type
- Sedan
- Hatchback
- SUV
Italy Electric Car Market by Propulsion Technology
- Battery Electric Car
- Plug-in-Hybrid Electric Car
Italy Electric Vehicle Market by Battery Type
- NiMH
- Li-Ion
- Others
Company Profiles
- BMW AG
- Daimler AG (Smart)
- Hyundai Motor Co.
- Jaguar Land Rover Ltd.
- Nissan Motor Co.
- Renault Group
- Tesla, Inc.
- TAZZARI GL IMOLA SPA
The Report Covers
- Comprehensive research methodology of Italy Electric Car Market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting Italy Electric Car Market.
- Insights about market determinants that are stimulating Italy Electric Car Market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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