Press release
Australia Electric Car Market to Reach USD 471.47 Mn by 2030, Growing at 5.56% CAGR!
Australia Electric Car Market
The Australian electric car market is experiencing a notable surge, driven by increasing environmental awareness, technological advancements, and supportive government policies. Valued at approximately USD 322.82 million in 2023, the market is projected to reach nearly USD 471.47 million by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 5.56% during the forecast period.
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Competitive Landscape
The Australian electric vehicle (EV) market features a mix of global and local players striving to capture the growing demand. Prominent companies such as Tesla, Nissan, Hyundai, and Mitsubishi have introduced various electric car models, showcasing improved range, performance, and features to attract Australian consumers.
Regional Demand Highlights
Urban centers like Sydney and Melbourne are leading the charge in EV adoption, attributed to better charging infrastructure and heightened environmental consciousness among residents. These regions are witnessing increased investments in charging networks, further propelling market growth.
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Segmentation Analysis
By Type
BEV
PHEV
HEV
Due to their zero emissions, which appeal to consumers who care about the environment and government programs that support clean transportation, battery electric vehicles, or BEVs, dominated the Australian electric car market in 2023. These vehicles are mainly becoming popular in urban areas. Offering both electric and internal combustion engine power, plug-in hybrid electric vehicles (PHEVs) are a rapidly expanding segment of the Australian electric car market. They are popular with consumers looking for a balance between the convenience of a backup combustion engine and the electric range, making them ideal for longer trips and areas with insufficient charging infrastructure. Customers switching to electric mobility continue to favor HEVs since they run on both internal combustion and electric engines and don't require external charging, particularly in places with sparse charging infrastructure.
By Product
Hatchback
Sedan
SUV
Others
By Battery
LFP
Li-NMC
Others
By Battery Capacity
201 Ah
By End-User
Shared mobility providers
Government organizations
Personal users
Others
Looking for in-depth market insights? Check out the summary of the latest research report:
https://www.maximizemarketresearch.com/market-report/australia-electric-car-market/65405/
Key Market Participants:
1. Tesla ,Palo Alto, California, USA.
2. Nissan ,Yokohama, Japan.
3. BMW ,Munich, Germany.
4. Chevrolet ,Detroit, Michigan, USA.
5. Audi ,Ingolstadt, Germany.
6. Hyundai ,Seoul, South Korea.
7. Kia ,Seoul, South Korea.
8. Jaguar ,Coventry, UK.
9. Mercedes-Benz ,Stuttgart, Germany.
10. Ford ,Dearborn, Michigan, USA.
11. Renault ,Boulogne-Billancourt, France.
12. Volkswagen ,Wolfsburg, Germany.
13. Porsche ,Stuttgart, Germany.
14. Volvo ,Gothenburg, Sweden.
15. Mitsubishi ,Tokyo, Japan.
16. Rivian ,Irvine, California, USA.
17. Lucid Motors ,Newark, California, USA.
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