Australia 4-Wheeler Electric Vehicle Market (2024-2030) | Outlook, Share, Revenue, Analysis, Size, Value, Growth, Industry, Trends, Companies & Forecast

Australia 4-Wheeler Electric Vehicle Market Highlights

Report Name	Australia 4-Wheeler Electric Vehicle Market
Forecast period	2024-2030
CAGR	11.9%
Growing Sector	Transportation

Topics Covered in the Australia 4-Wheeler Electric Vehicle Market

Australia 4-Wheeler Electric Vehicle Market report thoroughly covers the market by vehicle types, charger types, dc charger connector type, by dc charger connector. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Australia 4-Wheeler Electric Vehicle Market Synopsis

Australia 4-Wheeler Electric Vehicle Market is likely to grow as it provides an eco-friendly alternative to fossil fuel vehicles. Australia, being a part of this changing scenario, has seen a growing interest in 4-wheeler electric vehicles. The sales of electric vehicles (EVs) are on the rise in Australia due to increasing concerns about the damage caused by CO2 emissions. Moreover, the Australian government and several big companies in the country are keen on promoting the growth of the electric vehicle industry. With Australia moving towards environmentally friendly practices, electric vehicles provide a viable substitute to fossil-fuel cars while providing all the necessary amenities for normal consumers.

According to 6Wresearch, the Australia 4-Wheeler Electric Vehicle Market size is projected to grow at the CAGR of 11.9% during the forecast period of 2024-2030. The growing concerns around climate change and the reduction of greenhouse gas emissions are driving the growth of EVs in Australia. Furthermore, the lower cost of ownership of an electric car due to cheaper energy costs, faster acceleration, and government subsidies also make EVs an attractive option. Several car manufacturers are investing heavily in electric vehicles and constantly improving their technology to provide more efficient options to consumers. This has led to a more important interest in EVs in Australia, which is expected to continue to grow in the near future. The government's incentives and initiatives have also played a vital role in promoting EVs. In the recent federal budget, the government announced a heavy package towards the expansion of Australia 4-Wheeler Electric Vehicle Industry. Despite the growing interest, EVs in Australia face significant challenges.

One of the primary challenges is the lack of charging infrastructure across the country, which limits their range and access for users. Additionally, the high upfront cost of electric vehicles, compared to traditional petrol vehicles, discourages many consumers from committing to purchase. The limited options of car models available in Australia, compared to other markets, are also a significant challenge for customers looking to buy an EV.

Government policies and schemes introduced in the Australia 4-Wheeler Electric Vehicle Market

The Australian Government has also initiated several measures to promote the growth of the EV market, aiming to realistically achieve  the target  and increase the market share by 2030. One such measure is the EV subsidy system, which provides financial incentives to consumers who buy an electric or hybrid vehicle. Additionally, the government has launched initiatives such as the National Electric Vehicle Strategy, which aims to increase the uptake of EVs in the country through collaborations with industry stakeholders.

Leading players in the Australia 4-Wheeler Electric Vehicle Market

The electric vehicle market is gradually becoming more competitive, with several key players entering the Australian market. Electric cars from well-established brands such as Tesla, Nissan, and Hyundai are leading the market, while other automakers such as Renault, Jaguar, and BMW, have also made significant strides. Some of the domestic players in the market include Think Mobility, Tritium, ACE EV, and Tomcar. This competitive landscape with the entry of new players is driving innovation and broadening the range of electric vehicles in Australia and this major factor has  propelled Australia 4-Wheeler Electric Vehicle Market Growth.

Future Insight of the Australia 4-Wheeler Electric Vehicle Market

The future of the  4-Wheeler Electric Vehicle Market In Australia, with the country's government and several key players actively investing in the industry. As charging infrastructure and EV models continue to increase, and with the government's electric vehicle subsidies, purchasing an electric car may soon become a realistic option for ordinary Australians. Additionally, developments in technology for battery technology and renewable energy sources, such as solar power, are likely to make ownership even more attractive in the future.

Market analysis by Vehicle Type

Passenger Cars are the most common electric vehicle in Australia. The demand for electric passenger cars is expected to grow significantly in the coming years, driven by factors such as increased availability of models, more charging infrastructure, and improved battery technology. Light Commercial Vehicles (Goods Carriers) are also expected to grow in popularity over time, especially as more models become available.

Market analysis By Charger types

AC charging is the most common way to charge an electric vehicle's battery in Australia. Most home charging stations and public charging stations are AC chargers. DC charging, on the other hand, is much faster than AC charging, but it is also more expensive. There are two types of DC chargers, CHAdeMO and CCS, and they are both expected to see significant growth over the next few years. With the rise of electric commercial vehicles, the demand for DC charging is expected to increase significantly in the near future.

Market analysis by By Dc Charger Connector types

The two primary DC connectors in Australia are CHAdeMO and CCS, with other offerings such as Tesla superchargers and GB/T. The CCS socket is more common in Europe, while CHAdeMO has been the primary DC connector in Australia. However, that trend is slowly changing, with more CCS chargers installed in recent years. As a result, CCS is expected to grow more than CHAdeMO, but Tesla and GB/T will play a significant role in their respective segments.

Market analysis By dc charger Power rating

According to Shivankar, Research Manager, 6Wresearch, DC chargers come in three power ratings: 40-80 kW, 80-120 kW, and 120-200 kW. While the 40-80 kW segment currently dominates the market, the higher power ratings are expected to grow faster. Tesla's superchargers, capable of delivering up to 250 kW, have played a significant role in boosting the adoption of higher power rating EVs, and more offerings are expected in this segment.

Market analysis By End -use Consumers

The public charging segment has been growing at a steady pace, with more government-supported initiatives to install charging infrastructure in residential and commercial areas. Private chargers, on the other hand, have become more common in households with EV owners or workplaces with EV fleets. With the growth of electric vehicles, many property developers are retrofitting charging infrastructure in their construction projects, accelerating the growth of private chargers.

Key attractiveness of the report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023.
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Australia 4-Wheeler Electric Vehicle Market Overview
• Australia 4-Wheeler Electric Vehicle Market Outlook
• Australia 4-Wheeler Electric Vehicle Market Forecast
• Historical Data and Forecast Australia 4-Wheeler Electric Vehicle Market Revenues and Volume for the Period 2020-2030F
• Historical Data and Forecast of Australia 4-Wheeler Electric Vehicle Market Revenues and Volume, By Vehicle Types, for the Period 2020-2030F
• Historical Data and Forecast of Australia 4-Wheeler Electric Vehicle Market Revenues and Volume, By Charger Types, for the Period 2020-2030F
• Historical Data and Forecast of Australia 4-Wheeler Electric Vehicle Market Revenues and Volume, By DC Charger Connector Types, for the Period 2020-2030F
• Historical Data and Forecast of Australia 4-Wheeler Electric Vehicle Market Revenues and Volume, By DC Charger Power Ratings, for the Period 2020-2030F
• Historical Data and Forecast of Australia 4-Wheeler Electric Vehicle Market Revenues and Volume, By Charger End Consumers, for the Period 2020-2030F
• Market Drivers and Restraints
• Industry Life Cycle
• Porter’s Five Force Analysis
• Market Trends
• Japan Vehicle Market Revenue Ranking, By Companies
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Vehicle Types

• Passenger Car
• Light Commercial Vehicle (Goods Carrier)

By Charger Types

• AC
• DC
• By DC Charger Connector Types
• CHAdeMO
• CCS
• Others (including Tesla superchargers and GB/T)

By DC Charger Power Ratings

• 40-80 kW
• 80-120 kW
• 120-200 kW

By Charger End Consumers

• Public
• Private

Australia 4-Wheeler Electric Vehicle Market (2024-2030): FAQs