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- Europe's electric vehicle (EV) parc grew 17% between 2014 and 2015, with 70,912 EVs being added to the parc. The number of EVs registered in 2015 across Europe was 13% 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 (ACEA), wider EU-level support can help shift the new market focus from conventionally fuelled vehicles to EVs.
- The ACEA sees the market share of EVs growing by between 2% and 8% in the 2020s.
- Verdict's forecasts are less optimistic, predicting growth in market share from 0.5% of all registrations in 2014 to 0.9% in 2019. Achieving the growth targets will require much greater 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.
- 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 many ways then, Europe 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, overall 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 Europe is now entering the initial early adoption phase of electric mobility, with sales moving beyond the margin of 1% in some countries.
- The report identifies which countries 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 expected to evolve in the short term, and concludes that while the EV market is growing it is not growing at a rate that will allow government targets to be achieved in the near future.
"The European EV market 2014 - 2019", a Trend Report by Verdict Retail, provides an executive-level overview of how the electric vehicle market is developing across Europe, with forecasts of EV registrations up to 2019. It delivers quantitative and qualitative insight into the European new car market, analyzing key trends on motorists preferences for electric vehicles along with hybrids, diesels and petrol powered vehicles.
It provides in-depth analysis of the following:
- New vehicle registrations across Europe 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
Reasons To Buy
- This Verdict Retail report helps executives build proactive, profitable growth strategies by offering comprehensive, relevant analysis of the purchasing habits of motorists across Europe, providing insights into individual European markets and how readily they are adopting electric mobility.
- The report is designed for an executive-level audience, boasting presentation quality charts that allows it to be turned into presentable material immediately.
- The broad but detailed 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 new market.