The Europe electric vehicle market is predicted to propel with a CAGR of 15.90% during the forecast years 2022 to 2026. Investments in R&D, the presence of major market players, growing sales, government initiatives, etc., are set to accelerate the Europe electric vehicle market.
The Europe electric vehicle market growth study includes an evaluation of the United Kingdom, Netherlands, Sweden, France, Spain, Italy, Norway, Germany, and Rest of Europe. In Italy, National Recovery and Resilience Plan aims to settle sustainable electricity & transport sectors and develop low-carbon technologies. It aims to develop EV charging infrastructure and put research and development efforts into the main supply chains for the energy transition. The enhancement of sustainable transportation is one of Italy’s biggest concerns in climate and environmental policies. Key investments in energy efficiency and sustainable transportation are part of Italy’s recovery and resilience plan to support the country’s green transformation and EV market.
Additionally, in April 2021, Spain introduced the new MOVES III incentive scheme for electrically-chargeable vehicles (EVs). Moves III will have a $472 million initial budget that will last through the end of 2023. But this can be increased to $944 million if the need arises. Private owners would be eligible for subsidies of up to $8,260 per vehicle, with higher subsidies available to small-town governments and businesses purchasing fleets of vehicles for taxi use. Up to $10,620 would be given to electric van buyers. Thus, government subsidies and incentives will help the Spain electronic vehicle market.
Major players operating in the market include Volkswagen AG, Stellantis NV, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation caters to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments