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The European EV market 2014 - 2019; How the European EV market is being supported and how it is expected to evolve

The European EV market 2014 - 2019; How the European EV market is being supported and how it is expected to evolve

  • August 2016
  • 48 pages
  • ID: 4109459
In this report:
As a result, global and European sales figures are still small - below ##% of all new European car registrations in 2015 and expected to be a similar proportion by 2019.
Rising sales suggest that Europe is now entering the initial early adoption phase of electric mobility, with sales moving beyond the margin of ##% in some countries.

Summary

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Brief

- Europe's electric vehicle parc grew 17.0 percent between 2014 and 2015, with 70,912 EVs being added to the parc. The number of EVs registered in 2015 across Europe was 13.0 percent more than the number registered in 2014.

- This growth is largely a result of strong policy incentives and related initiatives in a number of countries.

- According to the European Automobile Manufacturers' Association, wider EU-level support can help shift the additional market focus from conventionally fuelled vehicles to EVs.

- The ACEA sees the market share of EVs increasing by between 2.0 percent and 8.0 percent in the 2020s.

- Verdict's forecasts are less optimistic, predicting growth in market share from 0.50 percent of all registrations in 2014 to 0.90 percent in 2019. Achieving the growth targets will require much better coordination from EU states. Uniform technology standards will help, but more needs to be done by both manufacturers and governments.

- Yet despite large-scale investment in EVs by manufacturers, Europe's EV market remains largely nascent, and adoption rates are low.

- Sales are affected by high initial purchase costs, range anxiety and a lack of re-charging infrastructure.

Main highlights

- National and local governments have recognised this low uptake, and have introduced a wide range of incentives to support take up.

- These range from fiscal incentives which support the initial purchase, to policy interventions and the provision of infrastructure.

- In various ways then, Europe (EU) is still in the initial early adoption phase of electric mobility. The challenge now is how to make EVs the default choice for motorists, and create the conditions that will enable targets to be achieved.

- Although EVs are gaining credibility, global EU wide sales numbers are not impressive; some countries have seen more growth than others. These tend to be where there is a mix of regulatory and associated incentives.

- Rising sales suggest that EU is now entering the initial early adoption phase of electric mobility, with sales moving beyond the margin of 1.0 percent in some countries.

- The analysis identifies which territories have put in place the right conditions to grow the EV market, and those which have work yet to do. It shows the current state of the

- European EV market and how it is anticipated to evolve in the short term, and concludes that while the EV market is increasing it is not increasing at a rate that will allow government targets to be achieved in the upcoming future.

Abstract

"The European EV market 2014 - 2019", a Trend Report by Verdict Retail, offers an executive-level overview of how the electric vehicle market is developing across Europe (EU), with forecasts of EV registrations up to 2019. It delivers quantitative and qualitative insight into the European additional car market, analyzing main trends on motorists preferences for electric vehicles together with hybrids, diesels and petrol powered vehicles.

It offers detailed analysis of the following:

- New vehicle registrations across EU by diesel, petrol, EV and hybrid categories, for each European country.

- Identifying what the future of the European auto market will look in 2019

- It also sets out the growth of the EV market in the context of regulatory targets, incentives and indirect support mechanisms

Great reasons to purchase

- This Verdict Retail report benefits executives build proactive, profitable growth strategies by offering exhaustive, efficient analysis of the purchasing habits of motorists across Europe (EU), providing insights into individual European markets and how readily they are adopting electric mobility.

- The market research is designed for an executive-level audience, boasting presentation quality charts that allows it to be turned into presentable material immediately.

- The broad but in-depth perspective will help auto industry players to target markets which are amenable to EV sales, as well as clearly showing those markets which are not yet set up to accommodate this additional market.

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