European Electric Car Market - Opportunity Analysis and Industry Forecast (2021-2028)
Meticulous Research ®— a leading global market research company, published a research report titled “ European Electric Cars Market by Propulsion Type (BEV, FCEV, PHEV, HEV), Power Output (Less Than 100kW, 100 kW to 250 kW), End Use (Private, Commercial), and Geography - Global Forecast to 2028” . The European electric car market is expected to grow at a CAGR of 40.7% by value from 2021 to reach $855.17 billion by 2028. By volume, this market is expected to grow at a CAGR of 29.6% from 2021 to reach 11.9 million units by 2028. This market is majorly driven by factors such as supportive government policies and regulations, rising environmental concerns, and increasing adoption of electric mobility in Europe. Moreover, the growing adoption of autonomous driving vehicles and the increasing trend of shared mobility provides significant opportunities in this market. However, the range anxiety of electric vehicles obstructs the growth of this market to some ext...