Europe Electric Vehicle Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Europe EV Market Share by Company and it is segmented by Vehicle Type (Passenger Car and Commercial Vehicles), Fuel Type (Battery Electric Vehicle, Fuel Cell Electric Vehicle, Hybrid Electric Vehicle, and Plug-in Hybrid Electric Vehicle), and Geography (Austria, Belgium, Czech Republic, Denmark, Estonia, France, Germany, Ireland, Italy, Latvia, Lithuania, Norway, Poland, Russia, Spain, Sweden, United Kingdom, and the Rest of Europe). The report offers the market size and forecasts in value (USD) for all the above segments.

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Europe Electric Vehicle Market Size

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Europe Electric Vehicle Market Summary
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https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2018 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Base Year For Estimation 2023
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 189.43 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 406.63 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 16.51 %
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Concentration High

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Europe Electric Vehicle Market Analysis

The Europe Electric Vehicle Market size is estimated at USD 189.43 billion in 2024, and is expected to reach USD 406.63 billion by 2029, growing at a CAGR of 16.51% during the forecast period (2024-2029).

  • The COVID-19 pandemic slowed the supply chain greatly, creating a decline in company confidence and heightened customer worry. The government implemented comprehensive lockdowns and temporary industry closures in Europe, affecting the whole manufacture and sale of automobiles in the country. However, post-pandemic, the surge in the manufacturing volume of electric vehicles is observed in the region due to the easing of restrictions. The automotive electric vehicle market in Europe had to cope with all the losses that happened during the period and will grow at a certain pace.
  • Over the long term, growing awareness of vehicle emissions, lower operating and maintenance costs, along with increasing government initiatives to encourage the use of electric vehicles will drive the growth of electric vehicles. Players are also focusing on launching new product lines. 
  • In June 2023, EVOLUTE introduced its i-SKY electric crossover, which is the third model in their product line. This innovative vehicle boasts a liquid-cooled permanent magnet synchronous motor with 204 horsepower and 340 Nm of torque.
  • In response to the growing concern over climate change, Europe has set ambitious emission reduction targets. To combat pollution and promote the adoption of electric vehicles (EVs), stricter regulations are being implemented, particularly in urban areas. Measures like low emission zones and stringent emission standards are encouraging fleet managers to transition to electric commercial vehicles.
  • For instance, in August 2022, ZF Friedrichshafen AG (ZF) showcased its state-of-the-art e-mobility innovations ahead of the IAA Transportation 2022. The all-electric powertrain incorporates cutting-edge control technologies, offering a dynamic, nimble, and precise driving experience reminiscent of BMW M high-performance sports cars.
  • Governments across Europe offer various incentives to encourage the uptake of electric vehicles. These incentives include purchase subsidies, tax incentives, and subsidies for building charging infrastructure. This help offset the high acquisition costs of electric vans, making them more economically attractive to fleet operators.
  • Furthermore, in Europe, Germany has an increasing number of electric car sales in the region, as well as an increase in charging stations, which will also play an important part in boosting the sale of electric vehicles. Furthermore, technological progress and new developments in the high-performance electric car market may help the market's growth in Germany.

Europe Electric Vehicle Market Trends

Commercial Vehicles is the largest segment by Vehicle Type.

  • Companies such as Ford Motor and General Motors, which are the high-performance truck market leaders, are introducing various electric high-performance electric trucks in the market. These electric trucks offer powerful electric powertrains and the best interiors, and other premium options like touch screens, leather seats, and panoramic glass. 
  • For instance, in July 2022, Ford presented the new F-150 Raptor R, which will be powered by a 5.2-liter V8 engine producing 700 horsepower. Its launch is the consequence of consumer demand for a Raptor with a V8 engine. Ford's new F-150 Raptor R has characteristics with previous versions, but it has a performance increase.
  • A 45% reduction in CO2 emissions by 2030 requires more than 400,000 zero-emission vehicles on the road, with at least 100,000 new zero-emission trucks registered each year. Therefore, various government initiatives and regulations will also boost the growth of high-performance trucks in the market. 
  • In February 2023, The European Automobile Manufacturers' Association (French: L'Association des Constructeurs Européens d'Automobiles (ACEA)) responded to the European Commission's proposal for new truck and bus CO2 standards by calling for higher CO2 objectives, accompanied by a dramatic enhancement in infrastructure roll-out, as well as a stronger incentive and carbon price mechanism. Meanwhile, major players in the market are expanding their production facilities to accommodate their new electric models.
  • For example, in September 2022, Radar Auto, a Geely sub-brand, officially introduced its debut product, the Radar RD6 new battery electric pickup truck which comes in four variants. The vehicle's engine features a 200 kW permanent-magnet synchronous motor and a choice of either a 63k Wh lithium iron phosphate battery or an 86kWh/100kWh ternary lithium battery.

Electric Truck Market Volume Worldwide Between 2018 and 2022 (In Units)

Germany is the largest segment by Country.

  • According to the Federal Motor Transport Authority (FMTA), a quarter more electric cars were registered in Germany in the first half of 2022 than the previous year over the same period. During that time, the proportion of fully electric vehicles climbed to 13.5% of all new registrations.
  • Overall, alternative-drive car registrations climbed by 14.2%, accounting for over half of all new car registrations (battery electric vehicles, hybrids, plug-in hybrids, hydrogen fuel cell vehicles, and gas vehicles). German brands accounted for 50.6% of new passenger car registrations with electric powertrains during the reporting period.
  • By 2030, Germany hopes to have 15 million electric vehicles on the road. Furthermore, the German Federal Government is aggressively supporting the usage of plug-in electric vehicles. Furthermore, since the rise in BEV subsidies in June 2020, the market share of battery electric vehicles (BEVs) has steadily increased. Aside from the environmental benefits, the increasing availability of electric vehicles on the market is driving growth.
  • However, there is evidence of the country's growing popularity of electric automobiles. As a result, the German government is anticipated to eliminate financial incentives for acquiring electric vehicles next year, as rising popularity renders government subsidies outdated. E-vehicles are getting more popular and will soon no longer require government subsidies.
  • According to the plan, subsidies for solely electric vehicles priced under EUR 40,000 (USD 40,488) will be cut to EUR 4,500 (USD 4794.82) from EUR 6,000 (USD 6393.09) at the beginning of next year and to EUR 3,000 (USD 3196.55) by 2023. According to government sources, the incentives granted to electric car owners will expire once the next two years' budget of EUR 3.4 billion (USD 3.44 billion) is expended.
  • Moreover, the government in Germany also took a few steps to grow EVs in the country. For instance, in October 2022, as part of its push toward net zero emissions, the German government approved a plan to spend EUR 6.3 billion (USD 6.1 billion) over three years to rapidly expand the number of charging stations for electric vehicles across the country. The plan aims to achieve a 14-fold increase in charging infrastructure, from the current 70,000 to 1 million by 2030.
Europe Electric Vehicle Market: Number of New Electric Car Registrations in Germany from 20016 to 2022

Europe Electric Vehicle Industry Overview

The European automotive electric vehicles market is moderately consolidated and highly competitive with the presence of players such as BMW Group, Daimler AG, and Volkswagen AG, amongst others. Companies are launching new models and investing in R&D projects to provide the best technology to electric vehicle customers. Along with that, governments are also actively reforming their laws to increase the adoption of electric vehicles.

In June 2023, Electra Commercial Vehicles secured funding from the European Horizon 2022 framework as part of the Escalate Project. The funding aims to support the development of a long-haul 40-tonne temperature-controlled drawbar battery electric vehicle. The truck will be built on an Electras eStar LEM27-350 chassis and will feature a drawbar trailer equipped with energy-efficient electrically powered refrigerated systems, high-performance insulated box bodies with tail lifts, and the latest technology in lightweight, low-profile solar panels to maximize its range.

In May 2023, Aston Martin announced a partnership with Bowers & Wilkins as its audio partner to provide a new surround sound system in its vehicles. The collaboration will focus on creating an optional surround sound system upgrade, emphasizing technical innovation and exceptional performance. Aston Martin plans to integrate Bowers & Wilkins audio systems into its future vehicles in the coming years.

Europe Electric Vehicle Market Leaders

  1. Audi AG

  2. BMW AG

  3. Renault Group

  4. Tesla Inc.

  5. Volkswagen AG

*Disclaimer: Major Players sorted in no particular order

Europe Electric Vehicle Market Concentration
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Europe Electric Vehicle Market News

  • June 2023: Rolls-Royce announced that the testing program for its all-electric supercoupé, Spectre, has been completed satisfactorily. The program required replicating nearly 400 years of usage by traversing 2.5 million kilometers in harsh temperatures ranging from -40°C to +50°C and a variety of demanding situations such as Arctic winter, deserts, high mountain routes, and bustling cities.
  • June 2023: Mercedes-Benz revealed the AMG EQE 53 4MATIC+ SUV. Mercedes-AMG's latest model stands out as the most adaptable electric vehicle in their lineup, combining a customizable cabin with a performance-oriented drive concept.
  • September 2022: Mercedes-Benz Trucks announced that real-world testing of its battery-electric heavy-duty long-distance vehicle will commence shortly. Both Amazon and Rhenus are set to put the eActros LongHaul through rigorous testing as early as 2023. To this end, Mercedes-Benz Trucks has signed a letter of intent with both companies and the series production is scheduled to begin in 2024.
  • March, 2022: Renault Trucks set new objectives in the world of electric mobility, renaming its E-Tech product to provide 360° assistance to its clients. It is expected to replace the present Z.E electric truck lineup. The Renault Trucks E-Tech portfolio includes a variety of high-performance electric vehicles.

Europe Electric Vehicle Market Report - Table of Contents

  1. 0. INTRODUCTION

    1. 0_0. Study Assumptions

    2. 0_1. Scope of the Study

  2. 1. RESEARCH METHODOLOGY

  3. 2. EXECUTIVE SUMMARY

  4. 3. MARKET DYNAMICS

    1. 3_0. Market Drivers

      1. 3_0_0. Government Participation will Drive the Market

    2. 3_1. Market Restraints

      1. 3_1_0. High Cost of the Vehicle may Hinder the Market Growth

    3. 3_2. Industry Attractiveness - Porter's Five Forces Analysis

      1. 3_2_0. Threat of New Entrants

      2. 3_2_1. Bargaining Power of Buyers/Consumers

      3. 3_2_2. Bargaining Power of Suppliers

      4. 3_2_3. Threat of Substitute Products

      5. 3_2_4. Intensity of Competitive Rivalry

  5. 4. MARKET SEGMENTATION (Market Size in Value USD Billion)

    1. 4_0. Vehicle type

      1. 4_0_0. Commercial Vehicle

      2. 4_0_1. Passenger Vehicle

    2. 4_1. Fuel Type

      1. 4_1_0. Battery Electric Vehicle

      2. 4_1_1. Fuel Cell Electric Vehicle

      3. 4_1_2. Hybrid Electric Vehicle

      4. 4_1_3. Plug-in Hybrid Electric Vehicle

    3. 4_2. Geography

      1. 4_2_0. Austria

      2. 4_2_1. Belgium

      3. 4_2_2. Czech Republic

      4. 4_2_3. Denmark

      5. 4_2_4. Estonia

      6. 4_2_5. France

      7. 4_2_6. Ireland

      8. 4_2_7. Italy

      9. 4_2_8. Latvia

      10. 4_2_9. Lithuania

      11. 4_2_10. Norway

      12. 4_2_11. Poland

      13. 4_2_12. Russia

      14. 4_2_13. Spain

      15. 4_2_14. Sweden

      16. 4_2_15. United Kingdom

      17. 4_2_16. Rest of Europe

  6. 5. COMPETITIVE LANDSCAPE

    1. 5_0. Vendor Market Share

    2. 5_1. Company Profiles

      1. 5_1_0. AB Volvo

      2. 5_1_1. Audi AG

      3. 5_1_2. BMW AG

      4. 5_1_3. Fiat Automobiles S.p.A.

      5. 5_1_4. Ford Motor Company

      6. 5_1_5. Hyundai Motor Company

      7. 5_1_6. Kia Corporation

      8. 5_1_7. Nissan Motor Company Ltd

      9. 5_1_8. Renault Group

      10. 5_1_9. Volkswagen AG

      11. 5_1_10. Tesla Inc.

    3. *List Not Exhaustive

  7. 6. MARKET OPPORTUNITIES AND FUTURE TRENDS

List of Tables & Figures

  1. Figure 1:  
  2. EUROPE ELECTRIC VEHICLE MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 2:  
  2. EUROPE ELECTRIC VEHICLE MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 3:  
  2. EUROPE ELECTRIC VEHICLE MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 4:  
  2. EUROPE ELECTRIC VEHICLE MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 5:  
  2. EUROPE ELECTRIC VEHICLE MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 6:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 7:  
  2. EUROPE ELECTRIC VEHICLE MARKET, LPI YOY GROWTH RATE, 2016 – 2026
  1. Figure 8:  
  2. EUROPE ELECTRIC VEHICLE MARKET, ELECTRIFICATION IMPACT, VOLUME, YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 9:  
  2. EUROPE ELECTRIC VEHICLE MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
  1. Figure 10:  
  2. EUROPE ELECTRIC VEHICLE MARKET, CHARGING STATIONS DEPLOYMENT, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
  1. Figure 11:  
  2. EUROPE ELECTRIC VEHICLE MARKET, VOLUME IN UNITS, 2016 – 2026
  1. Figure 12:  
  2. EUROPE ELECTRIC VEHICLE MARKET, VALUE IN USD, 2016 – 2026
  1. Figure 13:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 14:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 15:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2016 - 2028
  1. Figure 16:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2016 - 2028
  1. Figure 17:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY SUB BODY TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 18:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY SUB BODY TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 19:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
  1. Figure 20:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
  1. Figure 21:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY BUSES, BY VOLUME IN UNITS, 2016-2028
  1. Figure 22:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY BUSES, BY VALUE IN USD, 2016-2028
  1. Figure 23:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
  1. Figure 24:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 25:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
  1. Figure 26:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
  1. Figure 27:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY LIGHT COMMERCIAL VANS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 28:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY LIGHT COMMERCIAL VANS, BY VALUE IN USD, 2016-2028
  1. Figure 29:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
  1. Figure 30:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 31:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
  1. Figure 32:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
  1. Figure 33:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY FUEL TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 34:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY FUEL TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 35:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 36:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 37:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY BEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 38:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY BEV, BY VALUE IN USD, 2016-2028
  1. Figure 39:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 40:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY FCEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 41:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY FCEV, BY VALUE IN USD, 2016-2028
  1. Figure 42:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 43:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY HEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 44:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY HEV, BY VALUE IN USD, 2016-2028
  1. Figure 45:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 46:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY PHEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 47:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY PHEV, BY VALUE IN USD, 2016-2028
  1. Figure 48:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 49:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 50:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
  1. Figure 51:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 52:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 53:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY AUSTRIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 54:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY AUSTRIA, BY VALUE IN USD, 2016-2028
  1. Figure 55:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 56:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY BELGIUM, BY VOLUME IN UNITS, 2016-2028
  1. Figure 57:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY BELGIUM, BY VALUE IN USD, 2016-2028
  1. Figure 58:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 59:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY CZECH REPUBLIC, BY VOLUME IN UNITS, 2016-2028
  1. Figure 60:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY CZECH REPUBLIC, BY VALUE IN USD, 2016-2028
  1. Figure 61:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 62:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY DENMARK, BY VOLUME IN UNITS, 2016-2028
  1. Figure 63:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY DENMARK, BY VALUE IN USD, 2016-2028
  1. Figure 64:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 65:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY ESTONIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 66:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY ESTONIA, BY VALUE IN USD, 2016-2028
  1. Figure 67:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 68:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY FRANCE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 69:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY FRANCE, BY VALUE IN USD, 2016-2028
  1. Figure 70:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 71:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY GERMANY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 72:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY GERMANY, BY VALUE IN USD, 2016-2028
  1. Figure 73:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 74:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY IRELAND, BY VOLUME IN UNITS, 2016-2028
  1. Figure 75:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY IRELAND, BY VALUE IN USD, 2016-2028
  1. Figure 76:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 77:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY ITALY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 78:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY ITALY, BY VALUE IN USD, 2016-2028
  1. Figure 79:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 80:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY LATVIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 81:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY LATVIA, BY VALUE IN USD, 2016-2028
  1. Figure 82:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 83:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY LITHUANIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 84:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY LITHUANIA, BY VALUE IN USD, 2016-2028
  1. Figure 85:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 86:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY NORWAY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 87:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY NORWAY, BY VALUE IN USD, 2016-2028
  1. Figure 88:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 89:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY POLAND, BY VOLUME IN UNITS, 2016-2028
  1. Figure 90:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY POLAND, BY VALUE IN USD, 2016-2028
  1. Figure 91:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 92:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY RUSSIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 93:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY RUSSIA, BY VALUE IN USD, 2016-2028
  1. Figure 94:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 95:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY SPAIN, BY VOLUME IN UNITS, 2016-2028
  1. Figure 96:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY SPAIN, BY VALUE IN USD, 2016-2028
  1. Figure 97:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 98:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY SWEDEN, BY VOLUME IN UNITS, 2016-2028
  1. Figure 99:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY SWEDEN, BY VALUE IN USD, 2016-2028
  1. Figure 100:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 101:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY UK, BY VOLUME IN UNITS, 2016-2028
  1. Figure 102:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY UK, BY VALUE IN USD, 2016-2028
  1. Figure 103:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 104:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY REST-OF-EUROPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 105:  
  2. EUROPE ELECTRIC VEHICLE MARKET, BY REST-OF-EUROPE, BY VALUE IN USD, 2016-2028
  1. Figure 106:  
  2. EUROPE ELECTRIC VEHICLE MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 107:  
  2. EUROPE ELECTRIC VEHICLE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
  1. Figure 108:  
  2. EUROPE ELECTRIC VEHICLE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
  1. Figure 109:  
  2. EUROPE ELECTRIC VEHICLE MARKET SHARE(%), BY MAJOR PLAYERS, 2021

Europe Electric Vehicle Industry Segmentation

A vehicle propelled by one or more electric motors is known as an electric vehicle. It can be powered via a collecting system, extravehicular energy sources, or a battery on its own.

The Europe electric vehicle market is segmented by vehicle type, fuel type, and country. On the basis of vehicle type, the market is segmented into passenger cars and commercial vehicles. On the basis of fuel type, the market is segmented into battery electric vehicles, fuel cell electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles, and by country, the market is segmented into Austria, Belgium, Czech Republic, Denmark, Estonia, France, Germany, Ireland, Italy, Latvia, Lithuania, Norway, Poland, Russia, Spain, Sweden, United Kingdom and the Rest of Europe. 

The report offers the market size and forecasts in value (USD) for all the above segments.

Vehicle type
Commercial Vehicle
Passenger Vehicle
Fuel Type
Battery Electric Vehicle
Fuel Cell Electric Vehicle
Hybrid Electric Vehicle
Plug-in Hybrid Electric Vehicle
Geography
Austria
Belgium
Czech Republic
Denmark
Estonia
France
Ireland
Italy
Latvia
Lithuania
Norway
Poland
Russia
Spain
Sweden
United Kingdom
Rest of Europe
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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.
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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
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Europe Electric Vehicle Market Research FAQs

The Europe Electric Vehicle Market size is expected to reach USD 189.43 billion in 2024 and grow at a CAGR of 16.51% to reach USD 406.63 billion by 2029.

In 2024, the Europe Electric Vehicle Market size is expected to reach USD 189.43 billion.

Audi AG, BMW AG, Renault Group, Tesla Inc. and Volkswagen AG are the major companies operating in the Europe Electric Vehicle Market.

In the Europe Electric Vehicle Market, [object Object] accounts for the Major Players.

In 2023, the Europe Electric Vehicle Market size was estimated at USD 156.56 billion. The report covers the Europe Electric Vehicle Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Electric Vehicle Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Europe Electric Vehicle Industry Report

Statistics for the 2024 Europe Electric Vehicle market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Electric Vehicle analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Europe Electric Vehicle Market Report Snapshots

Europe Electric Vehicle Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)