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Europe Electric Vehicle Market
Europe Electric Vehicle Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2027, reaching US$ XX Mn.
Europe Electric Vehicle Market
Europe Electric Vehicle Market:
An electric vehicle is powered using an electric motor instead of a normal gasoline engine. Electric vehicle or EV use energy stored within rechargeable batteries for operating the electric motor that has the capability to rotate wheels. These electric vehicles are recharged using common household electricity.
The electric motor receives energy from a controller that regulates power on the basis of accelerator pedal used by a driver. Electric vehicle have a higher advantage over normal vehicles as it produces no tailpipe emissions and also reduces dependency on oil thereby making it cheaper to operate. The process of producing electricity in these cars move the emissions upstream towards utility company’s smokestacks.
Europe EV Overview:
Europe’s five largest automotive markets enclosed past China in electric vehicle registrations in the first quarter of 2020, as China battled the outbreak of the Covid-19 & imposed shutdowns countrywide. Germany, France, U.K. Italy & Spain collectively registered 79,300 fully electric vehicles between January & March, narrowly edging past the 77,256 in China. Unit sales more than doubled in Europe in that period, compared to the first quarter of 2019. In China, sales fell by more than half in the quarter as of the lockdown. Expectations for a ready-to-use charging infrastructure are also Increasing. However, the rollout of EV chargers was postponed in 11 European countries, amid production & manufacturing delays caused by the lockdown measures.
In Finland, France, Hungary, Portugal & the UK some projects have been completely stopped. In some cases, private users stopped the installation of their charge points, owing to the uncertainty regarding the spread of the coronavirus. In other cases, the shutdown of commercial buildings hampered the planned installations.
Mobility restrictions across Europe reduced the use of both private & public charging points, with Hungarian & Ukrainian operators observing a 50-70 percent drop since the start of the crisis.
The fall in electricity demand is likely to lead to income declines of up to 70 percent, affecting in the short to medium term the investment is new charging infrastructures. The trend could see a reverse, as sheltering & lockdown requirements are anticipated to remain in place in most of Europe throughout the spring & restrictions in China gradually are lifting. That shows an opportunity for China to regain its position as the top selling market for electric vehicles. The Chinese government is again announcing incentives for Evs both subsidies & tax breaks and China also has the production capacity, so may be China will again take the lead in registrations later this year.
Over the next few years, it will be a neck to neck Competition between China & Europe, with the winner determined by political will, improvements in charging infrastructure, & quality and availability of Evs.
Covid-19 impact on the European Green Deal:
The Coronavirus outbreak prompted governments worldwide to execute unprecedented restrictions on travel & economic activity. Coupled with a drop in global oil prices, which it largely caused, this crisis is producing differences in the energy sector, affecting both investments & the transition. The incline in carbon prices, also a result of lower energy demand, shows the combative impact that the Covid-19 crisis can have on the recently launched European Green Deal.
In Romania, a drop in energy prices impends further investments in the sector, while potentially ill-conceived governmental interferences risk creating lasting & unforeseen imbalances. In transportation, the renewal rate of vehicles is discouraged by low oil prices, while an arrival of second-hand vehicles from Western Europe will further disincentivise the replacement of internal combustion engine cars.
The objective of the report is to present a comprehensive analysis of the Europe Electric Vehicle Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Europe Electric Vehicle Market dynamics, structure by analyzing the market segments and project the Europe Electric Vehicle Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Europe Electric Vehicle Market make the report investor’s guide.
Europe Electric Vehicle Market, By Type
Europe Electric Vehicle Market, By Vehicle Type
• Two Wheeler
• Passenger Car
• Commercial Vehicle
Europe Electric Vehicle Market Key Players
• Mercedes Benz
• Delphi Automotive
Fore More Information Visit https://www.maximizemarketresearch.com/market-report/europe-electric-vehicle-market/1730/This Report Is Submitted By : Maximize Market Research Company
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