European electric car market is estimated to grow at a CAGR of more than 22.0% during the forecast period. Cohesive government regulations, target to reduce carbon emission due to environmental concerns, and high subsidies offered by the government are some of the major factors driving the growth of electric cars in Europe. In 2019, the market share of electric cars was only 3.6% which is providing a significant opportunity to the EV market in the region. Moreover, new electric car launch, entry of Chinese electric car makers, further development of electric vehicle charger, testing on new charging technology such as wireless charging are providing also providing a significant opportunity to the electric car market in the region. As per the European Automobile Manufacturers Association, around 564,000 electric cars were sold in Europe with a growth of 45.5% in 2019 out of which around 365,000 were battery electric vehicles whereas others were plug-in electric vehicles.
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The market is analyzed on the basis of vehicle type, propulsion technology, and battery type. Based on vehicle type, the market is further segmented into hatchback, sedan, and SUV. During the forecast period, Sedan is expected to have a major market share in the region. On the basis of propulsion technology, the market is sub-segmented into battery electric vehicles and plug-in hybrid electric vehicles. The battery-electric vehicle is expected to augment with the highest growth rate with a major market share during the forecast period. By battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Li-ion batteries vehicle is expected to cover a major market share in the near future. By geography, the market is segmented into Germany, UK, Norway, the Netherlands, Spain and Rest of Europe. Germany is expected to hold a major market share during the forecast period. The rest of Europe is expected to show a significant growth rate during the forecast period.
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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
European 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
European Electric Car Market Report- By Geography
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
The Report Covers
- Comprehensive research methodology of the Europe 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 the Europe Electric Car Market.
- Insights about market determinants which are stimulating the Europe 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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