Europe Electric Vehicle Market Growth, Share, Analysis by 2030
The Europe electric vehicle market was valued at US$ 141,848.91 million in 2022 and is projected to reach US$ 383,789.43 million by 2030; it is expected to grow at a CAGR of 13.2% during 2022–2030.
Analyst Perspective:
The ecosystem of the Europe electric vehicle market encompasses a complex network of interdependent entities focused on the development, adoption, and sustainability of electric mobility. This ecosystem is continually evolving, influenced by technological advancements, regulatory frameworks, consumer behaviors, and efforts made by various stakeholders. Major automotive manufacturers and OEMs play a central role in the European EV ecosystem. These companies design, produce, and market electric vehicles, influencing the overall market dynamics. Key players include Volkswagen, Tesla, BMW, and Stellantis. End users are the fundamental component of the EV ecosystem, as their preferences, purchasing decisions, and willingness to adopt electric vehicles impact Europe electric vehicle market trends. Awareness campaigns and educational initiatives contribute to the growing inclination of end users toward electric mobility.
Market Overview:
The Europe electric vehicle market encompasses trends regarding the production, sales, and adoption of electrically powered vehicles in European countries. These vehicles utilize electric power as their primary source of propulsion, relying on rechargeable batteries or other energy storage systems to store and deploy electrical energy for vehicle operation. The main types of electric vehicles available in the market are hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs).
The Europe electric vehicle market landscape is undergoing a notable shift due to the gradually declining sales of plug-in hybrid vehicles, particularly, in a region that has historically been a prime market for them. This trend complements a surging demand for fully electric vehicles (EVs), marking a significant transformation in consumer preferences. As consumers turned away from diesel-powered cars, which were once a popular choice, the automotive industry sought alternative solutions to meet evolving emission regulations imposed by European lawmakers. In response to this shift, certain automakers placed substantial bets on fully electric vehicles.
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Europe Electric Vehicle Market: Strategic Insights
Market Size Value in US$ 141,848.91 million in 2022 Market Size Value by US$ 383,789.43 million by 2030 Growth rate CAGR of 13.2% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Europe Electric Vehicle Market: Strategic Insights
| Market Size Value in | US$ 141,848.91 million in 2022 |
| Market Size Value by | US$ 383,789.43 million by 2030 |
| Growth rate | CAGR of 13.2% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Market Driver:
Upsurge in New Registrations Bolsters Europe Electric Vehicle Market Growth
The Europe electric vehicle market experienced substantial growth in 2022, marking a significant stride toward sustainability. According to data released by the European Environment Agency, there was a remarkable 21.6% surge in the adoption of electric cars in 2022, with nearly 2 million electric cars registered in the region, recording a notable increase from 1.74 million units registered in 2021. Notably, the momentum extended to electric vans, constituting 5.5% of new registrations in 2022. The total number of newly registered battery electric vehicles (BEVs) rose by 25% in 2022, while plug-in hybrid car registrations exhibited a stable trend. Specifically, BEVs dominated the electric van segment, emphasizing a clear shift toward fully electric options.
The evolution of the Europe electric vehicle market is evident from a steep rise in the number of new registrations from 600 in 2010 to 1.74 million in 2021, constituting 18% of total vehicle registrations as of 2021. This positive trend continued in 2022, with electric cars commanding an impressive 22% of new passenger car registrations. Breaking down the numbers, BEVs accounted for 12.2%, while PHEVs represented 9.4% of total new car registrations in 2022. Further, approximately 56,500 units of electric vans were sold in the EU-27 in 2022, capturing a 5.5% Europe electric vehicle market share and reflecting a notable upsurge of 2.0 percentage points from 2020, such market trend is underscoring the positive prospect of the market. The majority of these electric vans were BEVs, signifying a preference for fully electric options in the commercial vehicle segment.
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Segmental Analysis:
The Europe electric vehicle market has witnessed a remarkable transformation from 2017 to 2022, marking a substantial increase in the trade and adoption of eco-friendly vehicles. In 2022, the import dynamics of electric and hybrid cars in the European Union underwent a striking evolution, with a significant 35% increase compared to 2017, reflecting a growing preference for sustainable mobility solutions. Notably, the data reveals a substantial shift in the types of electric and hybrid cars being imported. Non-plug-in hybrid cars, which constituted 6% of total car imports in 2017, experienced a staggering rise to 21% in 2022. Similarly, the export numbers for non-plug-in hybrids increased from 0.4% in 2017 to an impressive 13% in 2022, underlining the growing demand for this category of vehicles. All such data shows promising opportunities for the Europe electric vehicle market growth.
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Regional Analysis:
The Europe electric vehicle market in Italy appears to be in a consolidating phase, but it has growth potential, especially with the improvement of charging infrastructure and additional incentives. On January 10, 2023, a new round of incentives aimed at increasing the market share of electric vehicles was introduced. These incentives are not exclusive to electric vehicles but also extend to internal combustion engine vehicles contributing less to pollution, categorized based on their CO2 emissions. The availability of funds worth €650 million (approximately US$ 727 million) in 2023, with a significant portion allocated to full hybrid, mild-hybrid, and internal combustion engine vehicles, further boosts people’s expectations in terms of incentives. Additionally, funds are allocated for electric mopeds and motorcycles, electric light commercial vehicles, and domestic charging infrastructure, creating a more favorable environment for electric vehicle adoption in Italy, including low-speed options. All such factors are driving the Europe electric vehicle market growth.
This underscores the growing significance and Europe electric vehicle market share of environmentally friendly vehicles, emphasizing a broader preference for sustainable and greener mobility solutions in the European automotive landscape.
The favorable government policies, legislation, incentives, funding, research, and taxation are also contributing to the higher adoption of EVs and PHEVs. To pioneer emission reduction efforts through transportation, the majority of the Danish Parliament members passed an agreement for the green transition of road transport. According to the agreement, the government is planning to incorporate 775,000 electric cars into the automotive ecosystem of the country by 2030. Thus, these favorable government policies are driving the growth of the Europe electric vehicle market share in Denmark.
Key Player Analysis:
Renault SA, Tesla Inc, Mitsubishi Motors Corp, BYD Co Ltd, Bayerische Motoren Werke AG, Hyundai Motor Co, AB Volvo, Volkswagen AG, Peugeot SA, and Audi AG are the prominent Europe electric vehicle market players in the market.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the Europe electric vehicle market. The market initiative is a strategy adopted by companies to expand their global footprint and to meet the growing customer demand. The Europe electric vehicle market players mainly focus on product and service enhancements by integrating advanced features and technologies into their offerings. A few of the recent developments by key players are listed below.
Year | News |
October 2023 | Renault, a French car brand, announced its intention to invest euro 3 billion (US$ 3.2 billion) by 2027 to launch 8 new vehicles to boost electric vehicle (EV) sales outside Europe as part of its global relaunch strategy. |
Nov-2023 | Tesla announced to build a car worth euro 25,000 (i.e., US$ 26,837.50) at its factory near Berlin. It is a long-awaited development for this electric vehicle maker, aiming for mass sale of its cars. |
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Vehicle Category, Vehicle Class, and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The European electric vehicle market experienced substantial growth in 2022, marking a significant stride towards sustainability. According to data released by the European Environment Agency, there was a remarkable 21.6% surge in the adoption of electric cars in 2022, with nearly 2 million electric cars registered in the region, recording a notable increase from 1.74 million units registered in 2021.
Germany, a powerhouse in the European automotive sector, has demonstrated a notable shift toward electric vehicle (EV) production and sales. Despite an overall decline of 26% in car production in August 2021, compared to 2020, EV production in Germany rose significantly by 9% during the same period, as reported by the German Association of the Automotive Industry (VDA). This trend aligns with the global growth in the manufacturing and use of EVs. According to the International Energy Agency, the total car sales in the world decreased by 14% in 2020 while EV sales surged from ~2 million units to over 3 million units.
Tesla Inc, Bayerische Motoren Werke AG, AB Volvo, and Audi AG are the top key market players operating in the Europe electric vehicle market.
This robust investment in fast charging aligns seamlessly with the European Union's ambitious goals. The commitment to fortifying public charging infrastructure is evident in the provisional agreement on the proposed Alternative Fuels Infrastructure regulation (AFIR).
Recognizing that even a modest 10% reduction in weight can yield an impressive 8% improvement in fuel economy, electric vehicle manufacturers are strategically addressing the inherent weight challenges posed by electric drivetrains and batteries.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Electric Vehicle Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Europe Electric Vehicle Suppliers
5. Europe Electric Vehicle Market - Key Industry Dynamics
5.1 Europe Electric Vehicle Market - Key Industry Dynamics
5.2 Market Drivers
5.2.1 Upsurge in New Registrations of Electric Vehicles
5.2.2 Favorable Government Policies
5.3 Market Restraints
5.3.1 Cost Challenges in Battery Production
5.3.2 Operational Limitations of Battery-Operated Electric Vehicles
5.4 Market Opportunities
5.4.1 Expansion of Fast-Charging Infrastructure
5.4.2 Introduction of Modular Native EV Platforms
5.5 Future Trends
5.5.1 Use of Lightweight Materials
5.6 Impact of Drivers and Restraints:
6. Electric Vehicle Market - Europe Market Analysis
Electric Vehicle Market Breakdown by Country, 2022 and 2030 (%)
6.1 Europe Electric Vehicle Market Revenue (US$ Million), 2022 – 2030
6.2 Europe Electric Vehicle Market Forecast and Analysis
7. Europe Electric Vehicle Market Analysis –Type
7.1.1 Europe Electric Vehicle Market, By Type (2022 and 2030)
7.2 Battery Electric Vehicles (BEV)
7.2.1 Overview
7.2.2 Battery Electric Vehicles (BEV), Revenue and Forecast to 2030 (US$ Million)
7.3 Hybrid Electric Vehicles (HEV)
7.3.1 Overview
7.3.2 Hybrid Electric Vehicles (HEV) Market, Revenue and Forecast to 2030 (US$ Million)
7.4 Plug-In Hybrid Electric Vehicles (PHEV)
7.4.1 Overview
7.4.2 Plug-In Hybrid Electric Vehicles (PHEV) Market, Revenue and Forecast to 2030 (US$ Million)
8. Europe Electric Vehicle Market Analysis –Vehicle Category
8.1.1 Europe Electric Vehicle Market, By Vehicle Category (2022 and 2030)
8.2 Passenger Cars
8.2.1 Overview
8.2.2 Passenger Cars, Revenue and Forecast to 2030 (US$ Million)
8.3 Commercial Vehicles
8.3.1 Overview
8.3.2 Commercial Vehicles Market, Revenue and Forecast to 2030 (US$ Million)
9. Europe Electric Vehicle Market Analysis –Vehicle Class
9.1.1 Europe Electric Vehicle Market, By Vehicle Class (2022 and 2030)
9.2 A/B
9.2.1 Overview
9.2.2 A/B, Revenue and Forecast to 2030 (US$ Million)
9.3 C
9.3.1 Overview
9.3.2 C Market, Revenue and Forecast to 2030 (US$ Million)
9.4 D
9.4.1 Overview
9.4.2 D Market, Revenue and Forecast to 2030 (US$ Million)
9.5 E
9.5.1 Overview
9.5.2 E Market, Revenue and Forecast to 2030 (US$ Million)
9.6 F
9.6.1 Overview
9.6.2 F Market, Revenue and Forecast to 2030 (US$ Million)
9.7 SUV A/B
9.7.1 Overview
9.7.2 SUV A/B Market, Revenue and Forecast to 2030 (US$ Million)
9.8 SUV C
9.8.1 Overview
9.8.2 SUV C Market, Revenue and Forecast to 2030 (US$ Million)
9.9 SUV D
9.9.1 Overview
9.9.2 SUV D Market, Revenue and Forecast to 2030 (US$ Million)
9.10 SUV F
9.10.1 Overview
9.10.2 SUV F Market, Revenue and Forecast to 2030 (US$ Million)
10. Europe Electric Vehicle Market - Regional Analysis
10.1 Overview
10.2 Europe Electric Vehicle Market Revenue and Forecasts and Analysis - By Countries
10.3 Germany
10.3.1 Germany Electric Vehicle Market Overview
10.3.2 Germany Electric Vehicle Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.3 Germany Electric Vehicle Market Breakdown by Type
10.3.3.1 Germany Electric Vehicle Market Revenue and Forecasts and Analysis - By Type
10.3.4 Germany Electric Vehicle Market Breakdown by Vehicle Category
10.3.4.1 Germany Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Category
10.3.5 Germany Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.3.5.1 Germany Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.4 France
10.4.1 France Electric Vehicle Market Overview
10.4.2 France Electric Vehicle Market Revenue and Forecasts to 2030 (US$ Mn)
10.4.3 France Electric Vehicle Market Breakdown by Type
10.4.3.1 France Electric Vehicle Market Revenue and Forecasts and Analysis - By Type
10.4.4 France Electric Vehicle Market Breakdown by Vehicle Category
10.4.4.1 France Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Category
10.4.5 France Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.4.5.1 France Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.5 Italy
10.5.1 Italy Electric Vehicle Market Overview
10.5.2 Italy Electric Vehicle Market Revenue and Forecasts to 2030 (US$ Mn)
10.5.3 Italy Electric Vehicle Market Breakdown by Type
10.5.3.1 Italy Electric Vehicle Market Revenue and Forecasts and Analysis - By Type
10.5.4 Italy Electric Vehicle Market Breakdown by Vehicle Category
10.5.4.1 Italy Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Category
10.5.5 Italy Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.5.5.1 Italy Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.6 Spain
10.6.1 Spain Electric Vehicle Market Overview
10.6.2 Spain Electric Vehicle Market Revenue and Forecasts to 2030 (US$ Mn)
10.6.3 Spain Electric Vehicle Market Breakdown by Type
10.6.3.1 Spain Electric Vehicle Market Revenue and Forecasts and Analysis - By Type
10.6.4 Spain Electric Vehicle Market Breakdown by Vehicle Category
10.6.4.1 Spain Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Category
10.6.5 Spain Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.6.5.1 Spain Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.7 UK
10.7.1 UK Electric Vehicle Market Overview
10.7.2 UK Electric Vehicle Market Revenue and Forecasts to 2030 (US$ Mn)
10.7.3 UK Electric Vehicle Market Breakdown by Type
10.7.3.1 UK Electric Vehicle Market Revenue and Forecasts and Analysis - By Type
10.7.4 UK Electric Vehicle Market Breakdown by Vehicle Category
10.7.4.1 UK Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Category
10.7.5 UK Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.7.5.1 UK Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.8 Sweden
10.8.1 Sweden Electric Vehicle Market Overview
10.8.2 Sweden Electric Vehicle Market Revenue and Forecasts to 2030 (US$ Mn)
10.8.3 Sweden Electric Vehicle Market Breakdown by Type
10.8.3.1 Sweden Electric Vehicle Market Revenue and Forecasts and Analysis - By Type
10.8.4 Sweden Electric Vehicle Market Breakdown by Vehicle Category
10.8.4.1 Sweden Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Category
10.8.5 Sweden Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.8.5.1 Sweden Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.9 Norway
10.9.1 Norway Electric Vehicle Market Overview
10.9.2 Norway Electric Vehicle Market Revenue and Forecasts to 2030 (US$ Mn)
10.9.3 Norway Electric Vehicle Market Breakdown by Type
10.9.3.1 Norway Electric Vehicle Market Revenue and Forecasts and Analysis - By Type
10.9.4 Norway Electric Vehicle Market Breakdown by Vehicle Category
10.9.4.1 Norway Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Category
10.9.5 Norway Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.9.5.1 Norway Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.10 Denmark
10.10.1 Denmark Electric Vehicle Market Overview
10.10.2 Denmark Electric Vehicle Market Revenue and Forecasts to 2030 (US$ Mn)
10.10.3 Denmark Electric Vehicle Market Breakdown by Type
10.10.3.1 Denmark Electric Vehicle Market Revenue and Forecasts and Analysis - By Type
10.10.4 Denmark Electric Vehicle Market Breakdown by Vehicle Category
10.10.4.1 Denmark Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Category
10.10.5 Denmark Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.10.5.1 Denmark Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.11 Belgium
10.11.1 Belgium Electric Vehicle Market Overview
10.11.2 Belgium Electric Vehicle Market Revenue and Forecasts to 2030 (US$ Mn)
10.11.3 Belgium Electric Vehicle Market Breakdown by Type
10.11.3.1 Belgium Electric Vehicle Market Revenue and Forecasts and Analysis - By Type
10.11.4 Belgium Electric Vehicle Market Breakdown by Vehicle Category
10.11.4.1 Belgium Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Category
10.11.5 Belgium Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.11.5.1 Belgium Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.12 Turkey
10.12.1 Turkey Electric Vehicle Market Overview
10.12.2 Turkey Electric Vehicle Market Revenue and Forecasts to 2030 (US$ Mn)
10.12.3 Turkey Electric Vehicle Market Breakdown by Type
10.12.3.1 Turkey Electric Vehicle Market Revenue and Forecasts and Analysis - By Type
10.12.4 Turkey Electric Vehicle Market Breakdown by Vehicle Category
10.12.4.1 Turkey Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Category
10.12.5 Turkey Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.12.5.1 Turkey Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.13 Rest of Europe
10.13.1 Rest of Europe Electric Vehicle Market Overview
10.13.2 Rest of Europe Electric Vehicle Market Revenue and Forecasts to 2030 (US$ Mn)
10.13.3 Rest of Europe Electric Vehicle Market Breakdown by Type
10.13.3.1 Rest of Europe Electric Vehicle Market Revenue and Forecasts and Analysis - By Type
10.13.4 Rest of Europe Electric Vehicle Market Breakdown by Vehicle Category
10.13.4.1 Rest of Europe Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Category
10.13.5 Rest of Europe Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
10.13.5.1 Rest of Europe Electric Vehicle Market Revenue and Forecasts and Analysis - By Vehicle Class
11. Europe Electric Vehicle Market – Impact of COVID-19 Pandemic
11.1 Pre & Post Covid-19 Impact
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Product Development
14. Company Profiles
14.1 Renault SA
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Tesla Inc
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Mitsubishi Motors Corp
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 BYD Co Ltd
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Bayerische Motoren Werke AG
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Hyundai Motor Co
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 AB Volvo
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Volkswagen AG
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Peugeot SA
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Audi AG
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About The Insight Partners
List of Tables
Table 1. Europe Electric Vehicle Market Segmentation
Table 2. List of Vendors in the Value Chain
Table 3. The table shows market share of Electric Cars Sold from 2010 to 2022.
Table 4. Europe Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Million)
Table 5. Europe Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Million) –Type
Table 6. Europe Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Million) –Vehicle Category
Table 7. Europe Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Million) –Vehicle Class
Table 8. Germany Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 9. Germany Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Category
Table 10. Germany Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Class
Table 11. France Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 12. France Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Category
Table 13. France Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Class
Table 14. Italy Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 15. Italy Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Category
Table 16. Italy Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Class
Table 17. Spain Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 18. Spain Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Category
Table 19. Spain Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Class
Table 20. UK Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 21. UK Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Category
Table 22. UK Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Class
Table 23. Sweden Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 24. Sweden Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Category
Table 25. Sweden Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Class
Table 26. Norway Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 27. Norway Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Category
Table 28. Norway Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Class
Table 29. Denmark Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 30. Denmark Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Category
Table 31. Denmark Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Class
Table 32. Belgium Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 33. Belgium Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Category
Table 34. Belgium Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Class
Table 35. Turkey Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 36. Turkey Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Category
Table 37. Turkey Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Class
Table 38. Rest of Europe Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 39. Rest of Europe Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Category
Table 40. Rest of Europe Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn) – By Vehicle Class
List of Figures
Figure 1. Europe Electric Vehicle Market Segmentation, By Country
Figure 2. PEST Analysis
Figure 3. Ecosystem: Europe Electric Vehicle Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Europe Electric Vehicle Market Revenue (US$ Million), 2022 – 2030
Figure 6. Europe Electric Vehicle Market Share (%) –Type, 2022 and 2030
Figure 7. Battery Electric Vehicles (BEV) Revenue and Forecasts To 2030 (US$ Million)
Figure 8. Hybrid Electric Vehicles (HEV) Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9. Plug-In Hybrid Electric Vehicles (PHEV) Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Europe Electric Vehicle Market Share (%) –Vehicle Category, 2022 and 2030
Figure 11. Passenger Cars Revenue and Forecasts To 2030 (US$ Million)
Figure 12. Commercial Vehicles Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. Europe Electric Vehicle Market Share (%) –Vehicle Class, 2022 and 2030
Figure 14. A/B Revenue and Forecasts To 2030 (US$ Million)
Figure 15. C Market Revenue and Forecasts To 2030 (US$ Million)
Figure 16. D Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. E Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. F Market Revenue and Forecasts To 2030 (US$ Million)
Figure 19. SUV A/B Market Revenue and Forecasts To 2030 (US$ Million)
Figure 20. SUV C Market Revenue and Forecasts To 2030 (US$ Million)
Figure 21. SUV D Market Revenue and Forecasts To 2030 (US$ Million)
Figure 22. SUV F Market Revenue and Forecasts To 2030 (US$ Million)
Figure 23. Europe Electric Vehicle Market Breakdown by Country, 2022 and 2030 (%)
Figure 24. Germany Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 25. Germany Electric Vehicle Market Breakdown by Type (2022 and 2030)
Figure 26. Germany Electric Vehicle Market Breakdown by Vehicle Category (2022 and 2030)
Figure 27. Germany Electric Vehicle Market Breakdown by Vehicle Class (2022 and 2030)
Figure 28. France Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 29. France Electric Vehicle Market Breakdown by Type (2022 and 2030)
Figure 30. France Electric Vehicle Market Breakdown by Vehicle Category (2022 and 2030)
Figure 31. France Electric Vehicle Market Breakdown by Vehicle Class (2022 and 2030)
Figure 32. Italy Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 33. Italy Electric Vehicle Market Breakdown by Type (2022 and 2030)
Figure 34. Italy Electric Vehicle Market Breakdown by Vehicle Category (2022 and 2030)
Figure 35. Italy Electric Vehicle Market Breakdown by Vehicle Class (2022 and 2030)
Figure 36. Spain Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 37. Spain Electric Vehicle Market Breakdown by Type (2022 and 2030)
Figure 38. Spain Electric Vehicle Market Breakdown by Vehicle Category (2022 and 2030)
Figure 39. Spain Electric Vehicle Market Breakdown by Vehicle Class (2022 and 2030)
Figure 40. UK Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 41. UK Electric Vehicle Market Breakdown by Type (2022 and 2030)
Figure 42. UK Electric Vehicle Market Breakdown by Vehicle Category (2022 and 2030)
Figure 43. UK Electric Vehicle Market Breakdown by Vehicle Class (2022 and 2030)
Figure 44. Sweden Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 45. Sweden Electric Vehicle Market Breakdown by Type (2022 and 2030)
Figure 46. Sweden Electric Vehicle Market Breakdown by Vehicle Category (2022 and 2030)
Figure 47. Sweden Electric Vehicle Market Breakdown by Vehicle Class (2022 and 2030)
Figure 48. Norway Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 49. Norway Electric Vehicle Market Breakdown by Type (2022 and 2030)
Figure 50. Norway Electric Vehicle Market Breakdown by Vehicle Category (2022 and 2030)
Figure 51. Norway Electric Vehicle Market Breakdown by Vehicle Class (2022 and 2030)
Figure 52. Denmark Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 53. Denmark Electric Vehicle Market Breakdown by Type (2022 and 2030)
Figure 54. Denmark Electric Vehicle Market Breakdown by Vehicle Category (2022 and 2030)
Figure 55. Denmark Electric Vehicle Market Breakdown by Vehicle Class (2022 and 2030)
Figure 56. Belgium Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 57. Belgium Electric Vehicle Market Breakdown by Type (2022 and 2030)
Figure 58. Belgium Electric Vehicle Market Breakdown by Vehicle Category (2022 and 2030)
Figure 59. Belgium Electric Vehicle Market Breakdown by Vehicle Class (2022 and 2030)
Figure 60. Turkey Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 61. Turkey Electric Vehicle Market Breakdown by Type (2022 and 2030)
Figure 62. Turkey Electric Vehicle Market Breakdown by Vehicle Category (2022 and 2030)
Figure 63. Turkey Electric Vehicle Market Breakdown by Vehicle Class (2022 and 2030)
Figure 64. Rest of Europe Electric Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 65. Rest of Europe Electric Vehicle Market Breakdown by Type (2022 and 2030)
Figure 66. Rest of Europe Electric Vehicle Market Breakdown by Vehicle Category (2022 and 2030)
Figure 67. Rest of Europe Electric Vehicle Market Breakdown by Vehicle Class (2022 and 2030)
Figure 68. Heat Map Analysis by Key Players
Figure 69. Company Positioning & Concentration
The List of Companies - Europe Electric Vehicle Market
- Renault SA
- Tesla Inc
- Mitsubishi Motors Corp
- BYD Co Ltd
- Bayerische Motoren Werke AG
- Hyundai Motor Co
- AB Volvo
- Volkswagen AG
- Peugeot SA
- Audi AG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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