Presence of major automotive makers drives the European Electric Vehicle Plastics Market

The European electric vehicle plastics market is projected to grow at a significant CAGR during the forecast period (2020-2026). Europe is home to various major automotive companies and represents a significant share of the global automotive industry. It has significantly contributed to the electric vehicle industry coupled with electric vehicle plastics market growth. Government supports as subsidies for EV and their charging stations is continuously augmenting the electric vehicle market growth. For instance, Germany offers grants of around $5,000 for plug-in hybrids whereas for cars of prices over $44,000 the grant can be more than $5,500. Some of the major electric vehicle companies working in the region include BMW AG, Audi AG, Ford Motors Co., Jaguar Land Rover, Tesla Inc., Volkswagen AG, and so on.

Browse the full report description European Electric Vehicle Plastics Market Size, Share & Trends Analysis Report by Plastic Type (Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Polyurethane, Polymethylmethacrylate, and Others), By Vehicle Type (Hybrid Electric Vehicles (HEVs), Battery Electric Vehicle (BEV), and Plug-In Hybrid Electric Vehicles (PHEVs)) and Forecast 2020-2026 at https://www.omrglobal.com/industry-reports/europe-electric-vehicle-plastics-market

Moreover, with the increasing manufacturing capabilities of EV in the region, the demand for plastic is also expected to increase during the forecast period. For instance, in Germany, Tesla, Inc., is developing Tesla Gigafactory Berlin-Brandenburg. The factory will manufacture batteries, battery packs, and powertrains for Tesla vehicles, as well as assemble the Tesla Model Y. The production of the factory is expected to start in late 2021. 

Market Coverage

Key questions addressed by the report

• What is the market growth rate during the forecast period?
• Which segment/region dominates the market in the base year?
• Which segment/region will project the fastest growth in the market during the forecast period?
• How COVID-19 will impact the market growth in 2020 and the coming years?

o Recovery Timeline

o Deviation from the pre-COVID-19 forecast

o Most affected region/segment

o Recommendations 

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

European Electric Vehicle Plastics Market – Segmentation

By Plastic Type

• Polyvinyl Chloride (PVC)
• Acrylonitrile Butadiene Styrene (ABS)
• Polyamide (PA)
• Polycarbonate (PC)
• Polyurethane (PU)
• Polyamide (PA)
• Polymethylmethacrylate (PMMA)
• Others (Polypropylene) 

By Vehicle Type

• Hybrid Electric Vehicles (HEVs)
• Battery Electric Vehicle (BEV)
• Plug-In Hybrid Electric Vehicles (PHEVs)

European Electric Vehicle Plastics Market – Segmentation by Region

• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe