According to 6Wresearch, Europe Electric Vehicle Market size is projected to grow at a CAGR of 29.1% during 2021-27F. Despite the worldwide pandemic of the novel coronavirus, the electric vehicle market in Europe has grown exponentially on the account of growing environmental awareness combined with the incentives provided by the governments such as lower purchase price of EVs, exemption from tax and other local benefits. Furthermore, stringent emission norms such as the ban on ICE cars are giving consumers an option to switch towards electric vehicles which are likely to propel the market in the forecast period. Additionally, the French government has also launched the “Advenir” programme under which subsidies can be granted for installing charging points on road like a tax credit of 300 on the purchase and installation of an EV charger at the main residence. Companies can get a subsidy of up to 40% and condominiums (apartment blocks) can get a subsidy of up to 50% on the purchase and installation cost of the EV charging point.
Key Highlights of the report:
Europe Electric Vehicle Market Overview
Europe Electric Vehicle Market Outlook
Europe Electric Vehicle Market Forecast
Europe Electric Vehicle Market Trends
Industry Life Cycle
Porter’s Five Force Analysis
Market Opportunity Assessment
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