Hatchback to Continue Dominating Europe Electric Passenger Car Market
Rising need for cleaner
automobiles and growing affordability of electric passenger cars is poised to boom
Europe electric passenger car market by 2023
According
to TechSci Research report, “Europe Electric Passenger Car Market By Vehicle Type, By Technology Type, By Driving
Range, By Country, Competition Forecast & Opportunities, 2013-2023”, Europe
electric passenger car market is projected to cross $ 72 billion by 2023 on
account of rising inclination of customers towards electric passenger cars due
to their growing affordability and increasing concerns regarding high pollution
levels. Moreover, expanding research and development activities by key leading
companies, along with rising government support towards the use of electric vehicles,
is further expected to compliment the overall Europe electric passenger car market
over the next five years.
Browse 89 market data Figures spread
through 124 Pages and an in-depth TOC on "Europe Electric Passenger Car Market"
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With an
expanding volume share of over 45%, hatchback dominated the overall electric passenger
car market, followed by the SUV and sedan segments, in 2017. The segment is
likely to continue its dominance during forecast period as well. A large demand
for electric passenger cars emanates from Norway owing to extensive charging
infrastructure in the country along with favorable government policies towards
electric vehicles. Norway is followed by Germany with the second largest share
in the Europe electric passenger car market. Some of the prominent players
operating in Europe electric passenger car market include Nissan, Tesla, Volkswagen,
BMW, Renault, and Audi, among others. Increasing focus on research and
development activities by the leading players to manufacture technologically
advanced as well as more efficient electric passenger cars is anticipated to
intensify competition in the Europe electric passenger car market over the
course of the next five years.
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“Demand
for electric passenger cars is constantly increasing in Europe due to several advantages
associated with them in comparison to the conventional automobiles. Electric
vehicles are much cleaner than the combustible automobiles and help curb the
alarmingly rising air pollution levels. Moreover, a rising number of
governments are providing incentives to the buyers of electric vehicles in
order to boost their sales, thereby further fuelling demand for electric
passenger cars in the region. All these developments are expected to stimulate
growth in the Europe electric passenger car market over the course of next five
years.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Europe Electric Passenger Car Market By Vehicle Type, By Technology Type, By Driving Range, By
Country, Competition Forecast & Opportunities, 2013-2023” has analyzed the potential of electric passenger car market
across the region, and provides statistics and information on market sizes,
shares and trends. The report will suffice in providing the intending clients
with cutting-edge market intelligence and help them in taking sound investment
decisions. Besides, the report also identifies and analyzes emerging trends
along with essential drivers and key challenges faced by Europe electric
passenger car market.
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