Australia electric car market is expected to witness significant growth during the forecast period. The electric car market in the country is at the nascent stage, and new companies with new designs and new concepts are arriving in the Australian electric car industry. In 2020, the country has shown modest growth in the electric car industry as a flat sale was witnessed in the whole year. As per the Federal Chamber of Automotive Industries (FCAI), nearly 1,750 EVs were sold in the country in 2020 which was only 250 higher than the last year.
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The sales of SUVs are increasing in the country. As per FCAI estimates, in 2015 car sales share was around 45.0% whereas the SUV share was 34.8%. The SUV market share is expected to increase to 46.0% by 2023. The sales of the electric vehicle showed modest growth even after the new electric SUV launch in the country. In 2020, the country witnessed the launch of Hyundai Kona and MG ZS. Lack of long range vehicle and government incentives for the EV are some of the major restraint for the growth of the market in the country. However, with the launch of new EV models, lucrative growth is still expected as the country is one of the most competitive and well-developed automotive markets across the globe.
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Market Coverage
- Market number available for – 2018-2025
- Base year- 2019
- Forecast period- 2019-2025
- Segment Covered- By Vehicle Type, By Propulsion Technology, By Battery Type
- Regions Covered- Australia
- Competitive Landscape- Hyundai Motor Co., Tesla, Inc., SAIC Motor Corp. Ltd., BMW AG, Nissan Motor Co.
Key Questions Addressed by the Report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Australia Electric Car Market report Segment
By Vehicle Type
- Hatchback
- Sedan
- SUV
By Propulsion Technology
- Battery Electric Car
- Plug-in Hybrid Electric Car
By Battery Type
- NiMH
- Li-ion
- Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
