WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 14, 2024 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, "Europe Electric Vehicle Market by Type, and Vehicle Type: Opportunity Analysis and Industry Forecast, 2020-2027".
๐๐ฎ๐ซ๐จ๐ฉ๐ ๐๐ฅ๐๐๐ญ๐ซ๐ข๐ ๐๐๐ก๐ข๐๐ฅ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ญ๐๐ญ๐ข๐ฌ๐ญ๐ข๐๐ฌ ๐๐๐๐-๐๐๐๐ :
The Europe electric vehicle market was valued at $25,489.81 million in 2019, and is projected to reach $143,084.57 million by 2027, registering a CAGR of 25.4% from 2020 to 2027.
Germany dominates the market in terms of revenue, followed by other European countries such as UK, Netherlands, France, Spain, Belgium, Italy, Portugal and rest of Europe.
๐๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ : https://www.alliedmarketresearch.com/request-sample/A09376
Europe is swiftly emerging as a global hotspot, owing to tremendous growth in the electric vehicle (EV) market across prominent countries such as Germany, France, Spain, Italy, and the UK. The announcement of subsidies by several national governments is anticipated to propel the growth of the electric vehicles market in Europe over the forecast timeframe.
For instance, in 2020 r, the German government declared a tax cut by 3% on EVs purchased between July 2020 and December 2020. The government also announced a 10-year tax exemption with EVs costing less than $49,084 to qualify for $11,043.9 subsidy until December 2021.
France provides subsidies up to $8,589.7 for families buying EVs costing less than $55,219.5.
Spain has lowered the tax by 75% for EVs in major cities, such as Barcelona and Madrid, and has launched a system that backs the purchase of EVs offering $4,908.4 - $6,135.5 subsidies. In Italy, EVs are exempted from taxes for 5 years from registration and get a 75% cut in tax after that.
Under the bonus-malus scheme, Italy offers subsidies up to $7,362.6/car releasing less than 70 grams of CO2/km.
The UK offers VAT and road tax exemption for carbon-neutral vehicles along with a grant worth $3,681.3 for vehicles that cost less than $61,355. Each country in the EU 27 and the UK, except Lithuania, provides tax reductions, subsidies, or a mixture of both.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ : https://www.alliedmarketresearch.com/europe-electric-vehicle-market/purchase-options
The incentives provided by the European governments have pushed the adoption rate of electric vehicles across Europe and are anticipated to offer lucrative opportunities for the electric vehicle market over the years.
๐๐๐๐๐-๐๐ ๐๐ฆ๐ฉ๐๐๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ :
Due to COVID-19 pandemic, the Europe electric vehicle market has been affected as the supply chain has been disrupted.
Due to the imposed lockdown, electric vehicle manufacturing units across the Europe have halted their production, which has affected the demand of the Europe electric vehicle across the region.
The unavailability of skilled labor has also affected the Europe electric vehicle market as people preferred to maintain social distancing and avoid travelling due to restrictions; thus, affecting the production of the electric vehicles.
๐๐๐๐๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ :
Renault,
Tesla,
Mitsubishi,
Nissan,
BMW,
Hyundai,
Volvo,
Volkswagen,
Peugeot,
Audi.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A09376
๐๐๐ฒ ๐
๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐๐ ๐๐ก๐ ๐๐ญ๐ฎ๐๐ฒ :
In 2019, by type, the BEV segment generated the highest revenue.
In 2019, by vehicle type, the passenger cars segment was the highest revenue contributor.
In 2019, country-wise, Germany contributed the highest revenue, followed by other European countries.
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ :
Europe Road Freight Transportation Market
https://www.alliedmarketresearch.com/europe-road-freight-transportation-market-A10861
Electric Vehicle (EV) Transmission Market
https://www.alliedmarketresearch.com/electric-vehicle-transmission-market
Light Commercial Vehicle (LCV) Market
https://www.alliedmarketresearch.com/light-commercial-vehicle-market-A11794
Reverse Logistics Market
https://www.alliedmarketresearch.com/reverse-logistics-market
Inland Vessels market
https://www.alliedmarketresearch.com/inland-vessel-market-A13092
David Correa
Allied Market Research
+1 800-792-5285
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