Europe Automotive High Performance Electric Vehicle Market- Industry Analysis and forecast 2020 – 2027

Published by

Jul 30, 2021

Europe Automotive High Performance Electric Vehicle Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2027, reaching US$ XX Mn.

Europe Automotive High Performance Electric Vehicle Market

 

Europe Automotive High Performance Electric Vehicle Market

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Europe Automotive High Performance Electric Vehicle Market:

Automotive High Performance Electric Vehicle can be distinguished from other electric vehicle on aspects, containing longer range of distance i.e., over 150 miles in a single charge, high acceleration, & their ability to attain a speed of over 90 miles/ hour with faster acceleration of 0 to 60 miles/hour. However purely electric vehicles have some limitations, usually counting with lower range & higher weight.

The gradually increasing momentum behind EV adoption both from the side of the buyer & the automotive industry suggests that EVS will play an important role in Europe’s mobility going forward. Europe’s five largest automotive markets edged past China in EV registrations in the first quarter of 2020, as China battled the outbreak of the coronavirus and imposed shutdowns countrywide.Germany, France, the U.K, Italy and Spain collectively registered 79,300 fully electric vehicles between January and March, narrowly edging past the 77,256 in China. Unit sales more than doubled in Europe in that period, compared to the first quarter of 2019. In China, sales fell by more than half in the quarter because of the lockdown. The trend could see a reversal, as sheltering and lockdown requirements are expected to remain in place in most of Europe throughout the spring and restrictions in China gradually are lifting. That presents an opportunity for China to regain its position as the top-selling market for EVs. The Chinese government is again introducing incentives for electric vehicles both subsidies & tax breaks and China also has the production capacity, so China will again take the lead in registrations later this year.

Increasing adoption of EVs, the technology & infrastructure to charge them is developing as well. In several European countries, public sector has taken the lead in installing infrastructure where PHEV & BEV drivers can plug in to charge. EV charging has some marked differences from conventional ICE refueling, and as a result, drivers show a different charging behavior. Technological developments improving the driving range of BEVs, as well as an increasing availability and speed of charging infrastructure, could change charging behavior and the need for charging infrastructure in the future.

The rise in growth of electric mobility is an important development for the power sector. While the adoption of EVs can provide new opportunities like creating additional electricity sales for utilities & a demand for charging infrastructure and related services the charging of EVs at a large scale can also create challenges for local distribution grids & their operators, if not properly managed. A growing adoption of electric mobility would coincide with other trends that put higher requirements on the grid and power system, such as the increasing share of renewables and distributed generation, as well as demands for increasing energy efficiency.
Subsidies, tax breaks, & special driving privileges:

Many European governments & cities (e.g., Norway, Denmark, the Netherlands, France, UK, as well as Oslo, Amsterdam, Paris, and London) are incentivizing consumers to opt for electric mobility, each with their own schemes. Norway is the most generous, offering a broad package of subsidies amounting to ~EUR 17,000 when compared to the purchase of a compact class ICE car; UK pays back to buyers a onetime premium of GPB 4,000-7,000 (based on purchasing price) for all vehicles emitting less than 75 g/km.
Another element of EV demand stimulus is tax breaks. Purchase, lease, & road taxes are among the burdens being eased by governments to make EVs a more attractive alternative to consumers. For instance, in the Netherlands, the income tax addition for full electric lease cars was 0% in 2013 and 4% in 2014. Other benefits offered by governments (mostly cities) include the use of special driving lanes, preferential or free parking, & waiving of toll fees.

The objective of the report is to present a comprehensive analysis of the Europe Automotive High Performance Electric Vehicle Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Europe Automotive High Performance Electric Vehicle Market dynamics, structure by analyzing the market segments and project the Europe Automotive High Performance Electric Vehicle Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Europe Automotive High Performance Electric Vehicle Market make the report investor’s guide.
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Europe Automotive High Performance Electric Vehicle Market, By Drive Type

• Plug-in Hybrid
• Pure Electric
Europe Automotive High Performance Electric Vehicle Market, By Vehicle Type

• Passenger Car
• Commercial Vehicle
Europe Automotive High Performance Electric Vehicle Market Key Players

• BMW
• Daimler
• General Motors
• Nissan
• Ford
• Renault
• Rimac
• Tesla Motors
• Kia
• Mitsubishi
• Peugeot
• Volkswagen
• Venturi

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