The European 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. The growing environmental concerns along with cohesive government initiatives are some other aspects to fuel the market growth in the region.
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Under the framework of the Green, Car Initiative started in November 2008 the France economic recovery plan had been presented to support a Europe-wide electromobility initiative, Green eMotion, worth $46.1 million, in partnership with 42 partners from electric car manufacturers, industry, municipalities, research institutions, universities, technology, research institutions, and utilities. This initiative is intended to exchange and develop know-how and experience in selected regions within Europe as well as facilitate the market roll-out of electric vehicles in Europe. According to the action plan, the France Commission will invest $26.7 million to finance the initiative’s activities. The growing public-private partnership to support the adoption of EVs is anticipated to fuel the growth EV market in Europe.
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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 Vehicle Market Report Segment
By Vehicle type
- Commercial Vehicle
- Passenger Cars
- Two-Wheelers
By Propulsion Technology
- Battery Electric Vehicle
- Plug-in Hybrid Electric Vehicle
By Battery Type
- NiMH
- Li-ion
- Others
European Electric Vehicle Market- Countries Covered
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
The Report Covers
- Comprehensive research methodology of the European 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 the European Electric Vehicle market.
- Insights about market determinants which are stimulating the European 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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