Spain electric car market is projected to grow at a CAGR of more than 21.0% during the forecast period, 2019-2025. The electric car market in Spain is comparatively small and is increasing exponentially for the last couple of years. A growth of around 48% was registered in the Spain electric car market in 2019 and reached to around 17,500 compared to 11,800 in 2018. The government of Spain is offering considerable subsidies to motivate the electric car market in the country. In February 2019, the government introduced the Spanish Alternative Mobility program as MOVES with a budget of $50 million and offers a subsidy of $6,000 on a purely electric vehicle when a fossil-based car of at least ten years old is neutralized.
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Spain electric car market is segmented on the basis of vehicle type, propulsion technology, and battery type. Based on vehicle type, the market is further analyzed into hatchback, sedan, and SUV. Some of the most selling electric car models in 2019 include Tesla Model 3, Nissan LEAF, Mini Countryman PHEV, Mitsubishi Outlander PHEV, Renault Zoe, Hyundai Koan EV, Volkswagen e-Golf, BMW i3, and others. On the basis of propulsion technology, the market is bifurcated into battery-electric cars and plug-in hybrid electric cars. As per the European Automobile Manufacturers Association, more than 10,000 battery-electric cars (BEV) were sold in the country in 2019 at a growth of 68% YoY whereas around 7,500 plug-in hybrid cars were sold at a growth of 27.5% YoY. By battery type, the market is further segmented into NiMH, Li-Ion, and others. Li-ion battery-electric cars market is expected to cover a major share in the near future.
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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
Spain 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
The Report Covers
- Comprehensive research methodology of Spain 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 Spain Electric Car Market.
- Insights about market determinants that are stimulating Spain 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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