Canada Electric Vehicle market is estimated to grow at a CAGR of more than 18.0% during the forecast period. The rising need to address future energy requirements is one of the major factors to drive the growth of the market. The EV market is emerging as an integral part of the automotive industry that provides a pathway to achieve a higher level of energy efficiency with a reduced level of pollutant emissions and other greenhouse gases.
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To encourage the purchase of Zero-Emission Vehicle (ZEV) in Canada the government of Canada offers its citizens access to a variety of incentive programs. Canadians who purchase EVs or plug-in hybrids are eligible for an incentive of $2,500 to $5,000 depending on the dealer’s terms and condition. For instance, for BMW of the model year 2020, the buyer will be provided with an incentive of $1,250, $2,550, and 3,750 for 12-month, 24-months, and 36-month lease period respectively. The cohesive government programs and initiatives to augment the adoption of EVs to fuel the growth of the EV market in Canada.
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- Market Coverage
- Market number available for – 2019-2025
- Base year- 2019
- Forecast period- 2020-2025
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Canada Electric Vehicle Market by Vehicle Type
- Commercial Vehicles
- Passenger Cars
- Two-Wheelers
Canada Electric Vehicle Market by Propulsion Technology
- Battery Electric Vehicles
- Plug-in Hybrid Electric Vehicle
Canada Electric Vehicle Market by Battery Type
- NiMH
- Li-Ion
- Others
Company Profiles
- Audi AG
- BMW AG
- Fiat Chrysler Automobiles N.V
- Ford Motor Co.
- Honda Motor Co., Ltd.
- Hyundai Motor Co.
- Kia Motors Corp.
- Nissan Motor Co.
- Tesla, Inc.
- Toyota Motor Corp.
- Volkswagen AG
The Report Covers
- Comprehensive research methodology of Canada Electric Vehicle 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 Canada Electric Vehicle market.
- Insights about market determinants which are stimulating the Canada Electric Vehicle market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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