Electric vehicle market is expected to reach USD 612,175.87 million by 2030, which is USD 102,051.11 million in 2022, at a CAGR of 25.10% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis. Based on propulsion type, the hybrid vehicles segment is estimated to account for the largest share of the European electric cars market in 2021. However, the fuel cell electric vehicles segment is projected to grow at the highest CAGR during the forecast period. The report says that: "Despite energy price inflation, fuel costs remain significantly lower for electric cars than petrol and diesel cars: fuel costs represent 15% of the total cost of ownership of an EV, while this is 23% and 28% for petrol and diesel drivers." It added, "EVs in nearly every segment and in nearly every European country are now the same price or cheaper than petrol or diesel cars."
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The rapid growth of this segment is mainly attributed to various advantages of electric cars such as fast refuelling, zero tailpipe emissions, lighter and smaller battery pack, rising government initiatives for setting up hydrogen fuel cell charging stations, and increasing investments by leading automotive OEMs in the research and development of hydrogen fuel cell technology. Based on end use, the private use segment is estimated to account for the largest share of the European electric cars market in 2021. However, the commercial use segment is projected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the increasing use of electric cars in shared mobility services and corporate taxi fleets, increasing regulations to reduce fleet emissions, and encouragement by global and state-level regulatory bodies to deploy policies promoting the adoption of electric cars for mobility services.
The electric vehicle market is segmented based on the component, propulsion type, charging station type, class, power train and vehicle type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
- Battery Cells & Packs
- On-Board Charger
- Infotainment System
- Others
Propulsion Type
- Plug-In Hybrid Electric Vehicles (PHEVs)
- Battery Electric Vehicles (BEVs)
- Hybrid Electric Vehicles (HEVs)
- Fuel Cell Electric Vehicles (FCEVs)
Charging Station Type
- Normal Charging
- Super Charging
Class
- Mid-Priced
- Luxury
Power Train
- Parallel Hybrid
- Series Hybrid
- Combined Hybrid
Vehicle Type
- Passenger Cars
- Two Wheelers
- Commercial Vehicles
Highlight of Table of Content:
· Chapter 1: Market overview
· Chapter 2: Europe Electric Vehicle Market Analysis
· Chapter 3: Regional analysis of the Europe Electric Vehicle Market
· Chapter 4: Market segmentation based on types and applications
· Chapter 5: Revenue analysis based on types and applications
· Chapter 6: Market share
· Chapter 7: Competitive Landscape
· Chapter 8: Drivers, Restraints, Challenges, and Opportunities
· Chapter 9: Gross Margin and Price Analysis
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Some of the major players operating in the electric vehicle market are:
- Ford Motor Company (U.S.)
- General Motors (U.S.)
- AUDI AG (Germany)
- Kia Motors Corporation (South Korea)
- Groupe Renault (France)
- Groupe PSA (France)
- SAIC Motor Corporation Limited (China)
- Tesla (U.S.)
- Daimler AG (Germany)
- BMW AG (Germany)
- Hyundai Motor Company (South Korea)
- BYD Company Ltd. (China)
- Continental AG (Germany)
- TOYOTA MOTOR CORPORATION (Japan)
- Nissan Motor Co., LTD. (Japan)
- Volkswagen AG (Germany)
- AB Volvo (Sweden)
- Honda Motor Co., Ltd. (Japan)
Profound Questions Answered in this Report:
· What is the growth rate of various stages in the value chain of the industry?
· Which region has the highest growth rate and size of the emerging market by value in 2022?
· Who are the competitive players in Europe Electric Vehicle Market?
· Which region has the largest share and degree of competition in the industry?
· What is the CAGR of the market during the forecast period 2023 to 2030?
· Which region is expected to hold the highest market share for the market?
· What is the main driver of the Europe Electric Vehicle Market?
· What is sales volume, revenue, and price analysis of top players of the market?
· What are the market opportunities and threats faced by the vendors in the industry?
· What has been the impact of COVID-19 on the Europe Electric Vehicle Market?
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