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

Europe Electric Vehicle Market Highlights

Report Name	Europe Electric Vehicle Market
Base Year	2023
Historical Period	2020-2023
Forecast Period	2024-2030
Growth Rate	11.89%
Report Coverage	Revenues & Volume, Market Trends, Drivers & Challenges, Market Forecast, Market Share
Segment Coverage	By Countries, By Propulsion, By Vehicle Drive Type, By Vehicle Top Speed
Customization Scope	100% customized reports available along with reliable data. Moreover, you can alter the segments, countries, and regions according to your needs. For further details, you can contact our research expert at sales@6wresearch.com
Pricing and Purchase Options	Avail customization purchase option to know the exact pricing of your research needs

Topics Covered in the Europe Electric Vehicle Market

Europe Electric Vehicle Market report thoroughly covers the market by product and by distribution channel. 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.

Europe Electric Vehicle Market Synopsis

Europe Electric Vehicle Market is experiencing rapid expansion, driven by consumer demand for environmentally friendly transportation options, coupled with stricter emissions regulations, prompted significant growth in EV sales across the continent. Major automakers were actively shifting their focus towards electric vehicles, with plans to electrify their entire fleets in the coming years. Moreover, the charging infrastructure was rapidly expanding to meet the growing demand for EVs, with an increasing number of charging stations, including fast-charging options, being deployed in urban areas and along major transportation routes. Furthermore, wireless charging and vehicle-to-grid (V2G) technology are emerging over the past few years, adding to the convenience and flexibility of EV ownership.

According to 6Wresearch, the Europe Electric Vehicle Market is projected to grow by 11.89% resulting in a market volume of US$289.5bn during the forecast period of 2024-2030. Stringent emission regulations, such as the European Union's CO2 emissions targets, have been a significant driver for the adoption of electric vehicles which is also furthering the Europe Electric Vehicle Market Growth. These regulations have forced automakers to produce more electric vehicles to meet fleet-average emissions targets. Additionally, government incentives and subsidies have played a crucial role in promoting EV adoption. These incentives often include tax breaks and reduced charging costs. Increasing awareness of environmental issues and climate change has led to a growing demand for cleaner transportation options. EVs are seen as a more sustainable alternative to traditional internal combustion engine vehicles. The expansion of charging infrastructure has alleviated range anxiety and made EV ownership more convenient and appropriate. However, the availability and accessibility of charging infrastructure, especially in rural areas, remain a challenge which also creates a challenging environment for the market. Also, EVs often have a higher upfront purchase price compared to traditional vehicles, although this is gradually changing. Nevertheless, automakers are continually expanding their electric vehicle lineups to cater to different consumer preferences, from compact cars to SUVs and even electric luxury vehicles. A growing second-hand EV market is emerging, making electric vehicles more accessible to price-sensitive buyers.

Government policies and schemes introduced in the Europe Electric Vehicle Market

The European Green Deal is a comprehensive plan to make the European Union climate-neutral by 2050. It includes initiatives to promote electric vehicles, reduce emissions, and support sustainable transportation. Various European countries have introduced subsidies, tax reimbursements, and reduced registration fees to encourage the adoption of electric vehicles. Governments in Europe have been investing in expanding the EV charging infrastructure, including funding for public charging stations and incentives for private charging infrastructure at homes and businesses.

The impact of COVID-19 on the Europe Electric Vehicle Market

The COVID-19 pandemic had both positive and negative effects on the Europe electric vehicle industry. While there was a temporary slowdown in production and sales in the initial months of the pandemic due to factory closures and reduced consumer spending, there was also a renewed interest in sustainable transportation as people sought alternatives to public transit. Further, the government also introduced stimulus packages that included incentives for EV purchases to stimulate economic recovery.

Leading players in the Europe Electric Vehicle Market

The Europe EV market share by company is dynamic and competitive, with several companies vying for market share. Some of the leading players in the Europe electric vehicle market includes;

• Tesla
• Volkswagen Group
• Renault-Nissan-Mitsubishi Alliance
• BMW Group
• Hyundai-Kia

Market analysis by Countries

According to Mohit, Research Analyst, 6Wresearch, Germany is a leading market for electric vehicles in Europe and estimated to dominate the Europe Electric Vehicle Market 2023 over the years, with a strong focus on premium and luxury EVs. Also, major automakers are headquartered here, contributing to significant growth of this market.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 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:

• Europe Electric Vehicle Market Outlook
• Market Size of Europe Electric Vehicle Market, 2023
• Forecast of Europe Electric Vehicle Market, 2030
• Historical Data and Forecast of Europe Electric Vehicle Revenues & Volume for the Period 2020 - 2030
• Europe Electric Vehicle Market Trend Evolution
• Europe Electric Vehicle Market Drivers and Challenges
• Europe Electric Vehicle Price Trends
• Europe Electric Vehicle Porter's Five Forces
• Europe Electric Vehicle Industry Life Cycle
• Historical Data and Forecast of Europe Electric Vehicle Market Revenues & Volume By Propulsion for the Period 2020 - 2030
• Historical Data and Forecast of Europe Electric Vehicle Market Revenues & Volume By BEV for the Period 2020 - 2030
• Historical Data and Forecast of Europe Electric Vehicle Market Revenues & Volume By PHEV for the Period 2020 - 2030
• Historical Data and Forecast of Europe Electric Vehicle Market Revenues & Volume By FCEV for the Period 2020 - 2030
• Historical Data and Forecast of Germany Electric Vehicle Market Revenues & Volume By Propulsion for the Period 2020 - 2030
• Historical Data and Forecast of Germany Electric Vehicle Market Revenues & Volume By BEV for the Period 2020 - 2030
• Historical Data and Forecast of Germany Electric Vehicle Market Revenues & Volume By PHEV for the Period 2020 - 2030
• Historical Data and Forecast of Germany Electric Vehicle Market Revenues & Volume By FCEV for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Electric Vehicle Market Revenues & Volume By Propulsion for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Electric Vehicle Market Revenues & Volume By BEV for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Electric Vehicle Market Revenues & Volume By PHEV for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Electric Vehicle Market Revenues & Volume By FCEV for the Period 2020 - 2030
• Historical Data and Forecast of France Electric Vehicle Market Revenues & Volume By Propulsion for the Period 2020 - 2030
• Historical Data and Forecast of France Electric Vehicle Market Revenues & Volume By BEV for the Period 2020 - 2030
• Historical Data and Forecast of France Electric Vehicle Market Revenues & Volume By PHEV for the Period 2020 - 2030
• Historical Data and Forecast of France Electric Vehicle Market Revenues & Volume By FCEV for the Period 2020 - 2030
• Historical Data and Forecast of Italy Electric Vehicle Market Revenues & Volume By Propulsion for the Period 2020 - 2030
• Historical Data and Forecast of Italy Electric Vehicle Market Revenues & Volume By BEV for the Period 2020 - 2030
• Historical Data and Forecast of Italy Electric Vehicle Market Revenues & Volume By PHEV for the Period 2020 - 2030
• Historical Data and Forecast of Italy Electric Vehicle Market Revenues & Volume By FCEV for the Period 2020 - 2030
• Historical Data and Forecast of Russia Electric Vehicle Market Revenues & Volume By Propulsion for the Period 2020 - 2030
• Historical Data and Forecast of Russia Electric Vehicle Market Revenues & Volume By BEV for the Period 2020 - 2030
• Historical Data and Forecast of Russia Electric Vehicle Market Revenues & Volume By PHEV for the Period 2020 - 2030
• Historical Data and Forecast of Russia Electric Vehicle Market Revenues & Volume By FCEV for the Period 2020 - 2030
• Historical Data and Forecast of Spain Electric Vehicle Market Revenues & Volume By Propulsion for the Period 2020 - 2030
• Historical Data and Forecast of Spain Electric Vehicle Market Revenues & Volume By BEV for the Period 2020 - 2030
• Historical Data and Forecast of Spain Electric Vehicle Market Revenues & Volume By PHEV for the Period 2020 - 2030
• Historical Data and Forecast of Spain Electric Vehicle Market Revenues & Volume By FCEV for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Electric Vehicle Market Revenues & Volume By Propulsion for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Electric Vehicle Market Revenues & Volume By BEV for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Electric Vehicle Market Revenues & Volume By PHEV for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Electric Vehicle Market Revenues & Volume By FCEV for the Period 2020 - 2030
• Historical Data and Forecast of Europe Electric Vehicle Market Revenues & Volume By Vehicle Drive Type for the Period 2020 - 2030
• Historical Data and Forecast of Europe Electric Vehicle Market Revenues & Volume By FWD for the Period 2020 - 2030
• Historical Data and Forecast of Europe Electric Vehicle Market Revenues & Volume By RWD for the Period 2020 - 2030
• Historical Data and Forecast of Europe Electric Vehicle Market Revenues & Volume By AWD for the Period 2020 - 2030
• Historical Data and Forecast of Germany Electric Vehicle Market Revenues & Volume By Vehicle Drive Type for the Period 2020 - 2030
• Historical Data and Forecast of Germany Electric Vehicle Market Revenues & Volume By FWD for the Period 2020 - 2030
• Historical Data and Forecast of Germany Electric Vehicle Market Revenues & Volume By RWD for the Period 2020 - 2030
• Historical Data and Forecast of Germany Electric Vehicle Market Revenues & Volume By AWD for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Electric Vehicle Market Revenues & Volume By Vehicle Drive Type for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Electric Vehicle Market Revenues & Volume By FWD for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Electric Vehicle Market Revenues & Volume By RWD for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Electric Vehicle Market Revenues & Volume By AWD for the Period 2020 - 2030
• Historical Data and Forecast of France Electric Vehicle Market Revenues & Volume By Vehicle Drive Type for the Period 2020 - 2030
• Historical Data and Forecast of France Electric Vehicle Market Revenues & Volume By FWD for the Period 2020 - 2030
• Historical Data and Forecast of France Electric Vehicle Market Revenues & Volume By RWD for the Period 2020 - 2030
• Historical Data and Forecast of France Electric Vehicle Market Revenues & Volume By AWD for the Period 2020 - 2030
• Historical Data and Forecast of Italy Electric Vehicle Market Revenues & Volume By Vehicle Drive Type for the Period 2020 - 2030
• Historical Data and Forecast of Italy Electric Vehicle Market Revenues & Volume By FWD for the Period 2020 - 2030
• Historical Data and Forecast of Italy Electric Vehicle Market Revenues & Volume By RWD for the Period 2020 - 2030
• Historical Data and Forecast of Italy Electric Vehicle Market Revenues & Volume By AWD for the Period 2020 - 2030
• Historical Data and Forecast of Russia Electric Vehicle Market Revenues & Volume By Vehicle Drive Type for the Period 2020 - 2030
• Historical Data and Forecast of Russia Electric Vehicle Market Revenues & Volume By FWD for the Period 2020 - 2030
• Historical Data and Forecast of Russia Electric Vehicle Market Revenues & Volume By RWD for the Period 2020 - 2030
• Historical Data and Forecast of Russia Electric Vehicle Market Revenues & Volume By AWD for the Period 2020 - 2030
• Historical Data and Forecast of Spain Electric Vehicle Market Revenues & Volume By Vehicle Drive Type for the Period 2020 - 2030
• Historical Data and Forecast of Spain Electric Vehicle Market Revenues & Volume By FWD for the Period 2020 - 2030
• Historical Data and Forecast of Spain Electric Vehicle Market Revenues & Volume By RWD for the Period 2020 - 2030
• Historical Data and Forecast of Spain Electric Vehicle Market Revenues & Volume By AWD for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Electric Vehicle Market Revenues & Volume By Vehicle Drive Type for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Electric Vehicle Market Revenues & Volume By FWD for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Electric Vehicle Market Revenues & Volume By RWD for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Electric Vehicle Market Revenues & Volume By AWD for the Period 2020 - 2030
• Historical Data and Forecast of Europe Electric Vehicle Market Revenues & Volume By Vehicle Top Speed for the Period 2020 - 2030
• Historical Data and Forecast of Europe Electric Vehicle Market Revenues & Volume By <125 mph for the Period 2020 - 2030
• Historical Data and Forecast of Europe Electric Vehicle Market Revenues & Volume By >125 mph for the Period 2020 - 2030
• Historical Data and Forecast of Germany Electric Vehicle Market Revenues & Volume By Vehicle Top Speed for the Period 2020 - 2030
• Historical Data and Forecast of Germany Electric Vehicle Market Revenues & Volume By <125 mph for the Period 2020 - 2030
• Historical Data and Forecast of Germany Electric Vehicle Market Revenues & Volume By >125 mph for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Electric Vehicle Market Revenues & Volume By Vehicle Top Speed for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Electric Vehicle Market Revenues & Volume By <125 mph for the Period 2020 - 2030
• Historical Data and Forecast of United Kingdom Electric Vehicle Market Revenues & Volume By >125 mph for the Period 2020 - 2030
• Historical Data and Forecast of France Electric Vehicle Market Revenues & Volume By Vehicle Top Speed for the Period 2020 - 2030
• Historical Data and Forecast of France Electric Vehicle Market Revenues & Volume By <125 mph for the Period 2020 - 2030
• Historical Data and Forecast of France Electric Vehicle Market Revenues & Volume By >125 mph for the Period 2020 - 2030
• Historical Data and Forecast of Italy Electric Vehicle Market Revenues & Volume By Vehicle Top Speed for the Period 2020 - 2030
• Historical Data and Forecast of Italy Electric Vehicle Market Revenues & Volume By <125 mph for the Period 2020 - 2030
• Historical Data and Forecast of Italy Electric Vehicle Market Revenues & Volume By >125 mph for the Period 2020 - 2030
• Historical Data and Forecast of Russia Electric Vehicle Market Revenues & Volume By Vehicle Top Speed for the Period 2020 - 2030
• Historical Data and Forecast of Russia Electric Vehicle Market Revenues & Volume By <125 mph for the Period 2020 - 2030
• Historical Data and Forecast of Russia Electric Vehicle Market Revenues & Volume By >125 mph for the Period 2020 - 2030
• Historical Data and Forecast of Spain Electric Vehicle Market Revenues & Volume By Vehicle Top Speed for the Period 2020 - 2030
• Historical Data and Forecast of Spain Electric Vehicle Market Revenues & Volume By <125 mph for the Period 2020 - 2030
• Historical Data and Forecast of Spain Electric Vehicle Market Revenues & Volume By >125 mph for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Electric Vehicle Market Revenues & Volume By Vehicle Top Speed for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Electric Vehicle Market Revenues & Volume By <125 mph for the Period 2020 - 2030
• Historical Data and Forecast of Rest of Europe Electric Vehicle Market Revenues & Volume By >125 mph for the Period 2020 - 2030
• Europe Electric Vehicle Market - Key Performance Indicators
• Europe Electric Vehicle Market - Import Export Trade Statistics
• Europe Electric Vehicle Market - Opportunity Assessment By Countries
• Europe Electric Vehicle Market - Opportunity Assessment By Propulsion
• Europe Electric Vehicle Market - Opportunity Assessment By Vehicle Drive Type
• Europe Electric Vehicle Market - Opportunity Assessment By Vehicle Top Speed
• Europe Electric Vehicle Market - Top Companies Market Share
• Europe Electric Vehicle Market - Top Companies Profiles
• Europe Electric Vehicle Market - Comparison of Players in Technical and Operating Parameters
• Europe Electric Vehicle Market - Strategic Recommendations

Market Covered

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

By Countries

• Germany
• United Kingdom
• France
• Italy
• Russia
• Spain
• Rest Of Europe

By Propulsion

• BEV
• PHEV
• FCEV

By Vehicle Drive Type

• FWD
• RWD
• AWD

By Vehicle Top Speed

• <125 Mph
• >125 Mph

Europe Electric Vehicle Market (2024-2030): FAQs