PEV Sales Are Estimated to Represent 27% of European Vehicle Sales in 2030
Battery innovations, government policies, and energy economics are contributing to a growing market
A new report from Navigant Research analyzes the European market conditions and country-level policies for plug-in electric vehicles (PEVs), providing sales and population forecasts of major European countries and regions by PEV powertrain type through 2030.
With PEV sales on track for another record year in Europe and worldwide, understanding the geographic distribution and policies that influence PEV adoption is more important than ever for stakeholders. PEVs are increasingly being considered by more consumers as a top choice for their next vehicle purchase, more countries are implementing purchase incentives, and the price of PEV technologies continues to decline. Click to tweet: According to a new report from Navigant Research, in 2030, PEV sales are estimated to represent 27% of light duty European vehicle sales.
“From 2017 to 2018, light duty PEV sales in Europe increased 35% to reach 370,000 sales,” says Raquel Soat, research analyst with Navigant Research. “Sales are expected to continue to increase as battery innovations, government policies, and energy economics contribute to increased growth across the continent.”
While market growth is expected to continue as battery prices continue to decline and charging technologies continue to advance, model availability, consumer awareness, and infrastructure all pose challenges to PEV adoption in Europe, and globally. This is likely to change as vehicle manufacturers introduce additional models and as the development of public charging networks becomes more prevalent.
The report, Market Data: EV Geographic Forecasts – Europe, analyzes the European market conditions and country-level policies for PEVs. The study examines the next decade of the European PEV market with a specific focus on how government policies, vehicle and energy economics, and infrastructure will affect PEV population and sales growth. Sales and population forecasts of major European countries and regions by PEV powertrain type extend to 2030. Forecasts are provided by segment under conservative, base, and aggressive scenarios alongside historical data on battery EV (BEV), plug-in hybrid EV (PHEV), and overall light duty vehicle (LDV) sales and population. An Executive Summary of the report is available for free download on the Navigant Research website.
*The information contained in this press release concerning the report, Market Data: EV Geographic Forecasts – Europe, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.