The Europe Electric Vehicle Market would witness market growth of 23.6% CAGR during the forecast period (2019-2025).
An electric vehicle, also called an EV, uses one or more electric motors or traction motors for propulsion. An electric vehicle may be powered through a collector system by electricity from off-vehicle sources or may be self-contained with a battery, solar panels or an electric generator to convert fuel to electricity. EVs include, but are not limited to, road and rail vehicles, surface and underwater vessels, electric aircraft and electric spacecraft. The electric vehicles are powered either by a collector system through electricity from charging station deployments or can be charged by self-charging devices such as regenerative braking systems, turbochargers, and others.
The market is witnessing a steady growth pace in this region due to extensive participation of developed and developing economies. Europe's EV market grew by nearly 40%, although from a small sales base. There have been a number of contributing variables, such as continuing headwinds for diesel technology and growing client interest in EVs. In Germany, where the EV market more than doubled, much of the regional momentum arose. That country is now the second-largest EV market in Europe, outperformed by Norway alone. Players across the region are competing to enhance their ability to deliver new and advanced products in the market.
Based on Type, the market is segmented into Hybrid Electric Vehicle, Battery Electric Vehicle and Plug-in Hybrid Electric Vehicle. Based on Vehicle Type, the market is segmented into Passenger Vehicles, Two-wheeler and Commercial Vehicle. Based on countries, the market is segmented into Germany, UK, France, Russia, Norway, Netherlands, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Tesla, Inc., Volkswagen AG, Honda Motor Co. Ltd., BYD Company Limited, Volvo Group, BMW Group, Toyota Motor Corporation, Ford Motors Co. Ltd., Daimler AG and General Motors Co.
Market Segmentation:
By Type
By Vehicle Type
By Country
Companies Profiled
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