Australia's electric vehicle (EV) market is estimated to grow at a CAGR of over 11.0% during the forecast period. The rising need to address future energy requirements is one of the major factors to drive the growth of the EV market in Australia. The country has adopted a national strategy for EVs to facilitate Australians to take advantage of EV technology. This strategy is adopted to coordinate action across governments, industry and urban and regional communities to improve the consistency of public charging infrastructure. The strategy will build on grants from the Australian Renewable Energy Agency (ARENA), finance from the Clean Energy Finance Corporation (CEFC) and the current work of the COAG Transport and Infrastructure Council. The wide adoption of this national strategy is anticipated to drive the growth of the EV market in Australia.  

The market is segmented on the basis of vehicle type, propulsion technology, and battery Type. Based on vehicle type, the market is sub-segmented into commercial vehicles, passenger cars, and two-wheeler. Based on Propulsion Technology the market is sub-segmented into battery electric vehicle, plug-in hybrid electric vehicle. Based on the propulsion type, plug-in hybrid vehicles are anticipated to have considerable market growth during the forecast period. Based on the Battery type, the market is sub-segmented into NiMH, Li-Ion, and others. 

The double hike in fuel prices in Australia has made Australians more inclined towards the purchase of the EVs. Tesla, Hyundai, Nissan, BMW, and Renault Group RE the major market players operating in the EV market in Australia. Tesla is a leading market player of EV in Australia with 70% of overall market share in the country. In 2019, around 3,300 EV by Tesla were sold in Australia in comparison to around 800 by Hyundai, 400 by Nissan, and 96 by BMW.

Research Methodology

The market study of the Australia EV market is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Australia Electric Vehicle Market Research and Analysis by Vehicle type 
2. Australia Electric Vehicle Market Research and Analysis by Propulsion Technology
3. Australia Electric Vehicle Market Research and Analysis by Battery Type

The Report Covers

• Comprehensive research methodology of the Australia electric vehicle market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting Australia electric vehicle market.
• Insights about market determinants which are stimulating the Australia electric vehicle market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.