The Europe Electric Vehicle Market is projected to register a CAGR of 6.52%. Key Highlights. Largest Segment by Fuel Type - BEV : In Europe, PHEV have witnessed the highest growth in the market studied.
New York, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Electric Vehicle Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028" - https://www.reportlinker.com/p06381541/?utm_source=GNW
Advanced technology, better fuel efficiency, and no range issues are driving the growth of this fuel type in the market.
Largest Segment by Vehicle Type - Commercial Vehicles : Due to the growing demand for passenger vehicles and the scarcity of alternative electric vehicle types in Europe, the passenger vehicle segment accounts for the majority of EV sales.
Fastest-growing Segment by Fuel Type - HEV : Better fuel efficiency, and no range anxiety issues with a combination of traditional fuel and battery-powered engines are making PHEV the fastest-growing segment in electric vehicle sales in Europe.
Largest Country - Germany : Germany has witnessed the highest sales in the electric vehicle market in Europe. The stringent government norms, and incentives are aided to the growth of electric mobility in the country
The Europe Electric Vehicle Market is fragmented, with the top five companies occupying 37.30%. The major players in this market are Audi AG, BMW AG, Renault Group, Tesla Inc. and Volkswagen AG (sorted alphabetically).
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