Dublin, 18 Feb. 2022 (GLOBE NEWSWIRE) — The “European Electric Car Market by Propulsion Type (BEV, FCEV, PHEV, HEV), Power Output (Less than 100 kW, 100 kW to 250 kW), End Use (Private, Commercial ) and Geography – Forecasts until 2028” has been added to from ResearchAndMarkets.com offer.

The electric car market in Europe is expected to reach $855.17 billion by 2028 growing at a CAGR of 40.7% during the forecast period 2021-2028. By volume, this market is expected to grow at a CAGR of 29.6% from 2021 to reach 11.9 million units by 2028.

The report provides an in-depth analysis of the Europe electric car market with emphasis on current market trends, market size, market shares, recent developments and forecast to 2028.

The growth of this market is mainly attributed to favorable government policies and regulations, growing environmental concerns, and increasing adoption of electric mobility in Europe. The increasing adoption of self-driving vehicles and the growing trend towards shared mobility offer significant growth opportunities for players operating in this market.

The study offers a comprehensive analysis of the electric car market in Europe with respect to drive type (hybrid vehicles, battery electric vehicles and fuel cell electric vehicles), power output (less than 100 kW and 100 kW to 250 kW), end use (private use and commercial use) and geography. The study also assesses industry competitors and analyzes the market on a national level.

Based on the type of propulsion, the electric car market in Europe is mainly segmented into hybrid vehicles, battery electric vehicles and fuel cell electric vehicles. The hybrid vehicle segment is expected to account for the largest share of the electric car market in Europe in 2021.

The large share of this segment is mainly attributed to increasingly stringent automotive emissions regulations, consumer demand for fuel-efficient vehicles, high investments by automotive OEMs for vehicle powertrain hybridization and the low cost of hybrid vehicles compared to battery electric vehicles.

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However, the fuel cell electric vehicle segment is expected to witness significant growth. The main factors attributed to the strong growth of this segment are the absence of tailpipe emissions, lighter and smaller batteries with increased range and government initiatives for the establishment of hydrogen fuel cell recharging stations .

Based on power output, the electric car market in Europe is segmented into under 100 kW and 100 kW to 250 kW. The sub-100kW segment is expected to account for the largest share of the electric car market in Europe in 2021.

The large share of this segment is mainly attributed to the increase in preferential access and parking allocation for light electric cars in the city centers of major European cities, the increase in the implementation of cars vehicles for shared mobility services, lower battery prices and increased investment by electric vehicle startups. . However, the 100kW to 250kW segment is expected to grow at the highest CAGR during the forecast period.

On the basis of end use, the electric car market in Europe is segmented into private use and commercial use. The private use segment is expected to account for the largest share of the electric car market in Europe in 2021. The large share of this segment is mainly attributed to the growing consumer demand for fuel efficient and zero tailpipe emissions vehicles, government incentives, tax rebates. , falling battery costs and rising fuel prices. However, the commercial use segment is expected to grow at the highest CAGR during the forecast period.

Geographically, Germany is estimated to account for the largest share of the electric car market in Europe in 2021 by value as well as volume. The large share of this country is mainly attributed to the increase in government initiatives to increase the rate of adoption of electric cars, an increasing number of charging stations. Germany is one of the leading countries in Europe for car manufacturing and the adoption of electric vehicles.

The German government has set a target of having 7-10 million electric car registrations by the end of 2030. In 2016, the government partnered with some of the major local automakers and launched a $1.1 billion electric vehicle incentive program. Under the program, consumers are offered a $4,400 subsidy to purchase fully electric cars. Similarly, a subsidy of USD 3,300 is offered on PHEV purchases.

Key Questions Answered by the Report

• What are the high growth market segments in terms of propulsion type, horsepower, end use and country?

• What is the historical size of the electric car market in Europe?

• What are the market forecasts and estimates for the period 2021-2028?

• What are the key drivers, restraints, opportunities and challenges for the electric car market in Europe?

• Who are the major market players and what market share do they hold?

• Who are the main players in the different countries and what market share do they hold?

• How is the competitive landscape of the electric car market in Europe?

• What are the recent developments in the electric car market in Europe?

• What are the different strategies adopted by the main market players?

• What are the major geographic trends and which are the high-growth countries?

• Who are the local emerging players in the electric car market in Europe and how do they compete with other players?

Market dynamics

Drivers

• Supportive government policies and regulations

• Growing environmental concerns

• Increasing the adoption of electric mobility in Europe

Constraints

Opportunities

Challenges

Value chain analysis

Major players operating in the Europe Electric Cars market are

Report scope

Electric car market in Europe, by type of propulsion

Electric car market in Europe, by power output

• Less than 100kW

• 100kW to 250kW

Electric car market in Europe, by end use

• Private use

• commercial use

Electric car market in Europe, by geography

• Europe

• Germany

• France

• UK

• Italy

• Spain

• Netherlands

• Sweden

• Switzerland

• Norway

• Denmark

• Austria

• Belgium

• Croatia

• Finland

• Greece

• Hungary

• Ireland

• Poland

• Portugal

• Romania

• Slovakia

• Rest of Europe (RoE)

For more information about this report visit https://www.researchandmarkets.com/r/33wdta

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