The European battery electric vehicle market is estimated to grow at a CAGR of more than 24.0% during the forecast period. In Europe, a shift toward BEV has been witnessed in a couple of years. As per the European Automobile Manufacturers Association, in Europe, BEV witnessed a growth of 80% in 2019 YoY whereas the growth of PHEV was only near to 7.1% YoY in 2019. The increasing popularity of BEV such as Tesla models in Europe is one of the major factors for the growth of the BEV market. Some other major factors contributing to the growth of the market include encouraging government regulations, financial backing on the electric vehicle by the government, development of charging infrastructure, and stringent target to curb the carbon emission. Besides, increased traveling range of the BEV due to the technological advancement of the batteries is another major factor leading to the adoption of BEV in the region. 

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The market is studied on the basis of vehicle type and battery type. Based on vehicle type, the market is further classified into commercial vehicles, passenger cars, and others. The passenger vehicle segment is expected to hold the largest market share during the forecast period. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Li-ion batteries cars is projected to cover a major market share in the near future. 

Based on geography, the market is divided into UK, Germany, Italy, Spain, France, Netherlands, Norway, and the Rest of Europe. During the forecast period, the Rest of Europe is expected to show considerable growth in the region. As per the European Automobile Manufacturers Association in 2019, Europe has shown a growth of 80% in the sales of BEV on YoY. Countries such as Belgium, Austria, Denmark, Finland, Poland will significantly contribute to the regional growth of the market.

Major companies contributing to the European BEV market include Audi AG, BMW AG, Tesla, Inc., Hyundai Motor Co., Jaguar Land Rover Ltd., Kia Motors Corp., Nissan Motor Co., Renault Group, Toyota Motor Corp. and others. The market players are considerably contributing to the market growth by adopting various growth strategies including new product launch, merger and acquisition, collaborations with government, and technological advancements to stay competitive in the market.

Research Methodology

The market study 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. In the report, the analysis of the country 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 to bring authenticity to the reports.

Secondary Sources Include

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

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. European Battery Electric Vehicle Market Research and Analysis by Vehicle Type 
2. European Battery Electric Vehicle Market Research and Analysis by Battery Type

The Report Covers

• Comprehensive research methodology of the European Battery 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 the European Battery Electric Vehicle Market.
• Insights about market determinants which are stimulating the European Battery Electric Vehicle Market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.