The Canada electric car market is projected to grow at a significant CAGR during the forecast period (2019-2025). The market growth is attributed to the increasing environmental concern that has encouraged the adoption of electric cars in the country. According to the International Energy Agency, Canadians drive the most polluting cars across the globe.
Over the past 20 years, carbon pollution from transportation has increased by 30% owing to the growing preference for SUVs and trucks. However, according to a survey conducted by Abacus Data and Clean Energy Canada in 2019, most of the Canadians lean toward an electric car for their next vehicle purchase.
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The players have also started focusing on the electric car in the country, which in turn will drive the regional growth of the market. For instance, in September 2020, Ford Motor Company of Canada Ltd. has agreed to spend around $2 billion on its Canadian plants as part of a tentative contract deal with Unifor. Under the agreement, Unifor’s national president said $1.95 billion will be invested in Canadian plants of the Ford, including $1.8 billion towards the production of five electric vehicles in Oakville, Ontario. Such investment by the players will ultimately yield new jobs in the country and hence will drive the regional growth of the market.
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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
- Region Covered- Canada
- Competitive Landscape- Tesla, Inc., Hyundai Motor Co., AB Volvo, Audi AG, BMW AG, General Motors Co., Toyota Motor Corp., and Volkswagen AG.
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?
Canada 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.)
