European Electric Vehicle Market Report 2021: Historical and Forecasted Market Revenues by Vehicle Type and Country for 2017-2027F
Dublin, December 24, 2021 (GLOBE NEWSWIRE) – The report “European Electric Vehicle Market (2021-2027): Market Forecast by Vehicle Types, by Countries and Competitive Landscape” has been added ResearchAndMarkets.com to offer.
The European electric vehicle market is expected to see robust growth in the coming years due to efforts by European countries to reduce CO2 emissions in the EU. Countries are working extensively to attract people’s interest to electric vehicles by providing incentives, grants and subsidies to their citizens.
Additionally, countries are focusing on developing public charging infrastructure and e-mobility in all countries to encourage private sector investment that would encourage people to buy electric vehicles over the forecast period. For example, the “Electromobility Act” passed by the federal government in 2015 had a positive effect on sales of electric vehicles in the country. In addition, following the Corona crisis, the government launched an economic stimulus package that included special incentives to promote electric vehicles, which ultimately led to a huge surge in electric vehicle sales and this trend is expected to continue in the forecast period. In addition, the Dutch government has also introduced the National Agenda for Charging Infrastructure to ensure a strategic and data-driven placement of the public charging infrastructure in the country. The government is the driving force behind the increasing share of electric traffic in the country.
The size of the European electric vehicle market is expected to grow at a CAGR of 29.1% between 2021 and 27F. Despite the global novel coronavirus pandemic, the electric vehicle market in Europe has grown exponentially due to growing environmental awareness coupled with government incentives such as lower purchase prices for electric vehicles, tax exemptions and other local benefits.
In addition, strict emissions standards such as the ICE car ban offer consumers the opportunity to switch to electric vehicles, which are expected to drive the market forward over the forecast period. In addition, the French government has started the “Advenir” program, which can support the installation of charging points on the road, such as a tax credit of 300 on the purchase and installation of an EV charger at the main residence. Companies can receive a subsidy of up to 40% and multi-family houses a subsidy of up to 50% on the purchase and installation costs of the e-charging station.
In terms of countries, Germany had the largest market share in the electric vehicle market in Europe in 2020 due to its high disposable income and the increasing acceptance of the electric vehicle. In addition, growing government and environmental agencies encouraging consumers to choose electric vehicles are likely to fuel the market in the coming years.
The report comprehensively covers the market by vehicle types and countries. The report provides an unbiased and detailed analysis of current trends, opportunities / high growth areas, and market drivers that would help stakeholders develop and align their market strategies with current and future market dynamics.
Main highlights of the report:
- Overview of the European electric vehicle market
- Outlook on the European electric vehicle market
- Electric vehicle market forecast for Europe
- Historical data and forecast of the revenue of the electric vehicle market in Europe, by vehicle type and country, for the period 2017-2027F
- Market leader
- Market restrictions
- Electric Vehicle Market Trends in Europe
- Industry lifecycle
- Porter’s Five Forces Analysis
- Market Opportunity Assessment
- Electric vehicle market share in Europe by company
- Benchmarking in market competition
- Company profiles
- Important strategic recommendations
The report covers the detailed analysis of the following market segments:
According to vehicle types
- Electric two-wheeler
- Lead acid
- Electric 3-wheel
- Electric 4-wheel
- Electric bus
- Electric truck
- United Kingdom
- AB Volvo
- BYD Auto Co., Ltd.
- DAF trucks
- Hyundai Motor Corporation
- Niu technologies
- Renault SA
- Quiet urban eco-mobility
- Tesla Inc.
- Volkswagen AG
Please visit https://www.researchandmarkets.com/r/wtdyhe for more information on this report
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