Europe Electric Vehicle Industry Overview
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Study Period: | 2016 - 2028 |
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Largest Share by Vehicle Type: | Commercial Vehicles |
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Largest Share by Country: | Germany |
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CAGR: | 6.52 % |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Europe Electric Vehicle Market Analysis
The Europe Electric Vehicle Market is projected to register a CAGR of 6.52%
- Largest Segment by Fuel Type - BEV : In Europe, PHEV have witnessed the highest growth in the market studied. Advanced technology, better fuel efficiency, and no range issues are driving the growth of this fuel type in the market.
- Largest Segment by Vehicle Type - Commercial Vehicles : Due to the growing demand for passenger vehicles and the scarcity of alternative electric vehicle types in Europe, the passenger vehicle segment accounts for the majority of EV sales.
- Fastest-growing Segment by Fuel Type - HEV : Better fuel efficiency, and no range anxiety issues with a combination of traditional fuel and battery-powered engines are making PHEV the fastest-growing segment in electric vehicle sales in Europe.
- Largest Country - Germany : Germany has witnessed the highest sales in the electric vehicle market in Europe. The stringent government norms, and incentives are aided to the growth of electric mobility in the country
Europe Electric Vehicle Industry Segments
Commercial Vehicles are covered as segments by Vehicle Type. BEV, FCEV, HEV, PHEV are covered as segments by Fuel Type. Austria, Belgium, Czech Republic, Denmark, Estonia, France, Germany, Ireland, Italy, Latvia, Lithuania, Norway, Poland, Russia, Spain, Sweden, UK, Rest-of-Europe are covered as segments by Country.| Vehicle Type | ||||||
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| Fuel Type | |
| BEV | |
| FCEV | |
| HEV | |
| PHEV |
| Country | |
| Austria | |
| Belgium | |
| Czech Republic | |
| Denmark | |
| Estonia | |
| France | |
| Germany | |
| Ireland | |
| Italy | |
| Latvia | |
| Lithuania | |
| Norway | |
| Poland | |
| Russia | |
| Spain | |
| Sweden | |
| UK | |
| Rest-of-Europe |
Europe Electric Vehicle Market Trends
This section covers the major market trends shaping the Europe Electric Vehicle Market according to our research experts:
Commercial Vehicles is the largest segment by Vehicle Type.
To understand key trends, Download Sample Report
Germany is the largest segment by Country.
To understand geography trends, Download Sample Report
Europe Electric Vehicle Market Competitor Analysis
The Europe Electric Vehicle Market is fragmented, with the top five companies occupying 37.30%. The major players in this market are Audi AG, BMW AG, Renault Group, Tesla Inc. and Volkswagen AG (sorted alphabetically).
Europe Electric Vehicle Market Top Players
Audi AG
BMW AG
Renault Group
Tesla Inc.
Volkswagen AG
*Disclaimer: Major Players sorted in no particular order
Europe Electric Vehicle Market Recent Developments
- July 2022: Ford has announced a series of initiatives for sourcing battery capacity and raw materials that helps reach its targeted annual run rate of 600,000 electric vehicles by late 2023 and more than 2 million by the end of 2026.
- June 2022: The United Arab Emirates’ Ministry of Energy and Infrastructure (MoEI), Audi Middle East, and Siemens signed an agreement to cooperate on boosting electric vehicle (EV) charging capacity on federal roads and increasing adoption of EVs across the country.
- May 2022: Hyundai has launched a new fully electric SUV Ioniq 5 in the UAE market. The company has unveiled the product in the Abudhabi national exhibition center.
Europe Electric Vehicle Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
3.1. Study Assumptions & Market Definition
3.2. Scope of the Study
3.3. Research Methodology
4. KEY INDUSTRY TRENDS
4.1. Population
4.2. GDP
4.3. CVP
4.4. Inflation Rate
4.5. Interest Rate For Auto Loans
4.6. Battery Price (per Kwh)
4.7. Logistics Performance Index
4.8. Electrification Impact
4.9. New XEV Models Announced
4.10. Charging Stations Deployment
4.11. Regulatory Framework
4.12. Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION
5.1. Vehicle Type
5.1.1. Commercial Vehicles
5.1.1.1. Buses
5.1.1.2. Heavy-duty Commercial Trucks
5.1.1.3. Light Commercial Vans
5.1.1.4. Medium-duty Commercial Trucks
5.2. Fuel Type
5.2.1. BEV
5.2.2. FCEV
5.2.3. HEV
5.2.4. PHEV
5.3. Country
5.3.1. Austria
5.3.2. Belgium
5.3.3. Czech Republic
5.3.4. Denmark
5.3.5. Estonia
5.3.6. France
5.3.7. Germany
5.3.8. Ireland
5.3.9. Italy
5.3.10. Latvia
5.3.11. Lithuania
5.3.12. Norway
5.3.13. Poland
5.3.14. Russia
5.3.15. Spain
5.3.16. Sweden
5.3.17. UK
5.3.18. Rest-of-Europe
6. COMPETITIVE LANDSCAPE
6.1. Key Strategic Moves
6.2. Market Share Analysis
6.3. Company Landscape
6.4. Company Profiles
6.4.1. AB Volvo
6.4.2. Audi AG
6.4.3. BMW AG
6.4.4. Fiat
6.4.5. Ford Motor Company
6.4.6. Hyundai Motor Company
6.4.7. Kia
6.4.8. Nissan Motor Company Ltd
6.4.9. Renault Group
6.4.10. Tesla Inc.
6.4.11. Volkswagen AG
7. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS
8. APPENDIX
8.1. Global Overview
8.1.1. Overview
8.1.2. Porter’s Five Forces Framework
8.1.3. Global Value Chain Analysis
8.1.4. Market Dynamics (DROs)
8.2. Sources & References
8.3. List of Tables & Figures
8.4. Primary Insights
8.5. Data Pack
8.6. Glossary of Terms
List of Tables & Figures
Figure 1:
EUROPE ELECTRIC VEHICLE MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
Figure 2:
EUROPE ELECTRIC VEHICLE MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
Figure 3:
EUROPE ELECTRIC VEHICLE MARKET, CVP YOY GROWTH RATE, 2016 – 2027
Figure 4:
EUROPE ELECTRIC VEHICLE MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 5:
EUROPE ELECTRIC VEHICLE MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 6:
EUROPE ELECTRIC VEHICLE MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
Figure 7:
EUROPE ELECTRIC VEHICLE MARKET, LPI YOY GROWTH RATE, 2016 – 2026
Figure 8:
EUROPE ELECTRIC VEHICLE MARKET, ELECTRIFICATION IMPACT, VOLUME, YOY GROWTH RATE, PERCENT, 2016 – 2026
Figure 9:
EUROPE ELECTRIC VEHICLE MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
Figure 10:
EUROPE ELECTRIC VEHICLE MARKET, CHARGING STATIONS DEPLOYMENT, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
Figure 11:
EUROPE ELECTRIC VEHICLE MARKET, VOLUME IN UNITS, 2016 – 2026
Figure 12:
EUROPE ELECTRIC VEHICLE MARKET, VALUE IN USD, 2016 – 2026
Figure 13:
EUROPE ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, BY VOLUME IN UNITS, 2016-2028
Figure 14:
EUROPE ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, BY VALUE IN USD, 2016-2028
Figure 15:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2016 - 2028
Figure 16:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2016 - 2028
Figure 17:
EUROPE ELECTRIC VEHICLE MARKET, BY SUB BODY TYPE, BY VOLUME IN UNITS, 2016-2028
Figure 18:
EUROPE ELECTRIC VEHICLE MARKET, BY SUB BODY TYPE, BY VALUE IN USD, 2016-2028
Figure 19:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
Figure 20:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
Figure 21:
EUROPE ELECTRIC VEHICLE MARKET, BY BUSES, BY VOLUME IN UNITS, 2016-2028
Figure 22:
EUROPE ELECTRIC VEHICLE MARKET, BY BUSES, BY VALUE IN USD, 2016-2028
Figure 23:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
Figure 24:
EUROPE ELECTRIC VEHICLE MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
Figure 25:
EUROPE ELECTRIC VEHICLE MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
Figure 26:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
Figure 27:
EUROPE ELECTRIC VEHICLE MARKET, BY LIGHT COMMERCIAL VANS, BY VOLUME IN UNITS, 2016-2028
Figure 28:
EUROPE ELECTRIC VEHICLE MARKET, BY LIGHT COMMERCIAL VANS, BY VALUE IN USD, 2016-2028
Figure 29:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
Figure 30:
EUROPE ELECTRIC VEHICLE MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
Figure 31:
EUROPE ELECTRIC VEHICLE MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
Figure 32:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
Figure 33:
EUROPE ELECTRIC VEHICLE MARKET, BY FUEL TYPE, BY VOLUME IN UNITS, 2016-2028
Figure 34:
EUROPE ELECTRIC VEHICLE MARKET, BY FUEL TYPE, BY VALUE IN USD, 2016-2028
Figure 35:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
Figure 36:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
Figure 37:
EUROPE ELECTRIC VEHICLE MARKET, BY BEV, BY VOLUME IN UNITS, 2016-2028
Figure 38:
EUROPE ELECTRIC VEHICLE MARKET, BY BEV, BY VALUE IN USD, 2016-2028
Figure 39:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 40:
EUROPE ELECTRIC VEHICLE MARKET, BY FCEV, BY VOLUME IN UNITS, 2016-2028
Figure 41:
EUROPE ELECTRIC VEHICLE MARKET, BY FCEV, BY VALUE IN USD, 2016-2028
Figure 42:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 43:
EUROPE ELECTRIC VEHICLE MARKET, BY HEV, BY VOLUME IN UNITS, 2016-2028
Figure 44:
EUROPE ELECTRIC VEHICLE MARKET, BY HEV, BY VALUE IN USD, 2016-2028
Figure 45:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 46:
EUROPE ELECTRIC VEHICLE MARKET, BY PHEV, BY VOLUME IN UNITS, 2016-2028
Figure 47:
EUROPE ELECTRIC VEHICLE MARKET, BY PHEV, BY VALUE IN USD, 2016-2028
Figure 48:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 49:
EUROPE ELECTRIC VEHICLE MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
Figure 50:
EUROPE ELECTRIC VEHICLE MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
Figure 51:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
Figure 52:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
Figure 53:
EUROPE ELECTRIC VEHICLE MARKET, BY AUSTRIA, BY VOLUME IN UNITS, 2016-2028
Figure 54:
EUROPE ELECTRIC VEHICLE MARKET, BY AUSTRIA, BY VALUE IN USD, 2016-2028
Figure 55:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 56:
EUROPE ELECTRIC VEHICLE MARKET, BY BELGIUM, BY VOLUME IN UNITS, 2016-2028
Figure 57:
EUROPE ELECTRIC VEHICLE MARKET, BY BELGIUM, BY VALUE IN USD, 2016-2028
Figure 58:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 59:
EUROPE ELECTRIC VEHICLE MARKET, BY CZECH REPUBLIC, BY VOLUME IN UNITS, 2016-2028
Figure 60:
EUROPE ELECTRIC VEHICLE MARKET, BY CZECH REPUBLIC, BY VALUE IN USD, 2016-2028
Figure 61:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 62:
EUROPE ELECTRIC VEHICLE MARKET, BY DENMARK, BY VOLUME IN UNITS, 2016-2028
Figure 63:
EUROPE ELECTRIC VEHICLE MARKET, BY DENMARK, BY VALUE IN USD, 2016-2028
Figure 64:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 65:
EUROPE ELECTRIC VEHICLE MARKET, BY ESTONIA, BY VOLUME IN UNITS, 2016-2028
Figure 66:
EUROPE ELECTRIC VEHICLE MARKET, BY ESTONIA, BY VALUE IN USD, 2016-2028
Figure 67:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 68:
EUROPE ELECTRIC VEHICLE MARKET, BY FRANCE, BY VOLUME IN UNITS, 2016-2028
Figure 69:
EUROPE ELECTRIC VEHICLE MARKET, BY FRANCE, BY VALUE IN USD, 2016-2028
Figure 70:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 71:
EUROPE ELECTRIC VEHICLE MARKET, BY GERMANY, BY VOLUME IN UNITS, 2016-2028
Figure 72:
EUROPE ELECTRIC VEHICLE MARKET, BY GERMANY, BY VALUE IN USD, 2016-2028
Figure 73:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 74:
EUROPE ELECTRIC VEHICLE MARKET, BY IRELAND, BY VOLUME IN UNITS, 2016-2028
Figure 75:
EUROPE ELECTRIC VEHICLE MARKET, BY IRELAND, BY VALUE IN USD, 2016-2028
Figure 76:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 77:
EUROPE ELECTRIC VEHICLE MARKET, BY ITALY, BY VOLUME IN UNITS, 2016-2028
Figure 78:
EUROPE ELECTRIC VEHICLE MARKET, BY ITALY, BY VALUE IN USD, 2016-2028
Figure 79:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 80:
EUROPE ELECTRIC VEHICLE MARKET, BY LATVIA, BY VOLUME IN UNITS, 2016-2028
Figure 81:
EUROPE ELECTRIC VEHICLE MARKET, BY LATVIA, BY VALUE IN USD, 2016-2028
Figure 82:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 83:
EUROPE ELECTRIC VEHICLE MARKET, BY LITHUANIA, BY VOLUME IN UNITS, 2016-2028
Figure 84:
EUROPE ELECTRIC VEHICLE MARKET, BY LITHUANIA, BY VALUE IN USD, 2016-2028
Figure 85:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 86:
EUROPE ELECTRIC VEHICLE MARKET, BY NORWAY, BY VOLUME IN UNITS, 2016-2028
Figure 87:
EUROPE ELECTRIC VEHICLE MARKET, BY NORWAY, BY VALUE IN USD, 2016-2028
Figure 88:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 89:
EUROPE ELECTRIC VEHICLE MARKET, BY POLAND, BY VOLUME IN UNITS, 2016-2028
Figure 90:
EUROPE ELECTRIC VEHICLE MARKET, BY POLAND, BY VALUE IN USD, 2016-2028
Figure 91:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 92:
EUROPE ELECTRIC VEHICLE MARKET, BY RUSSIA, BY VOLUME IN UNITS, 2016-2028
Figure 93:
EUROPE ELECTRIC VEHICLE MARKET, BY RUSSIA, BY VALUE IN USD, 2016-2028
Figure 94:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 95:
EUROPE ELECTRIC VEHICLE MARKET, BY SPAIN, BY VOLUME IN UNITS, 2016-2028
Figure 96:
EUROPE ELECTRIC VEHICLE MARKET, BY SPAIN, BY VALUE IN USD, 2016-2028
Figure 97:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 98:
EUROPE ELECTRIC VEHICLE MARKET, BY SWEDEN, BY VOLUME IN UNITS, 2016-2028
Figure 99:
EUROPE ELECTRIC VEHICLE MARKET, BY SWEDEN, BY VALUE IN USD, 2016-2028
Figure 100:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 101:
EUROPE ELECTRIC VEHICLE MARKET, BY UK, BY VOLUME IN UNITS, 2016-2028
Figure 102:
EUROPE ELECTRIC VEHICLE MARKET, BY UK, BY VALUE IN USD, 2016-2028
Figure 103:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 104:
EUROPE ELECTRIC VEHICLE MARKET, BY REST-OF-EUROPE, BY VOLUME IN UNITS, 2016-2028
Figure 105:
EUROPE ELECTRIC VEHICLE MARKET, BY REST-OF-EUROPE, BY VALUE IN USD, 2016-2028
Figure 106:
EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
Figure 107:
EUROPE ELECTRIC VEHICLE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
Figure 108:
EUROPE ELECTRIC VEHICLE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
Figure 109:
EUROPE ELECTRIC VEHICLE MARKET SHARE(%), BY MAJOR PLAYERS, 2021
Market Definition
- Body Type - It includes buses, light commercial vehicles, medium& heavy-duty vehicles, medium and heavy-duty buses, trucks, M&HDT.
- Engine Type - Hybrid and electric vehicles are vehicles that run on batteries and use one or more electric motors for propulsion. .
- Fuel Type - Hybrid and electric vehicles include HEV, PHEV, BEV, and FCEV.
- Sub Body Type - Under this category, buses, heavy-duty commercial trucks, light commercial pickup trucks, light commercial vans, and medium-duty commercial trucks have been included.
- Vehicle Type - It includes passenger vehicles, commercial vehicles, and two wheelers.
Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
