Italy electric car market is projected to augment at a CAGR of more than 20.0% during the forecast period, 2019-2025. The Italian electric car market is comparatively small and has been increasing exponentially for the last couple of years. In 2019, the electric car market augmented with a growth of 76% YoY to 17,100 electric cars as compared to 9,750 cars in 2018. The country is the fourth largest market for passenger cars after Germany, France, and UK due to which a significant opportunity can be witnessed in the near future. Multiple subsidies are offered by the government to promote electric cars in the country. ‘Eco tax’ as a penalty was introduced in Italy for using a polluting (fossil) vehicle. In addition, the government offers a subsidy of $4,400 for the vehicle that has CO2 emission rating up to 70 g/km whereas a subsidy of $1,650 for vehicles that emit between 21 and 70 g/km. An additional incentive is also provided if an older vehicle is scrapped. 

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The market is analyzed based on vehicle type, propulsion technology, and battery type. Based on vehicle type, the market is further analyzed into hatchback, sedan, and SUV. Some of the most selling car models in the country include Renault ZOE, Nissan LEAF, Smart Fortwo, Smart Forfour, Tesla Model 3, and Tesla Model X. On the basis of propulsion technology, the market is bifurcated into battery-electric car and plug-in-hybrid electric car. As per the European Automobile Manufacturers Association, in 2019 around 10,660 battery-electric cars were sold in the country, with a growth of 113% YoY whereas around 6,500 plug-in hybrid cars were sold in the country with a growth of around 36% YoY in 2018. By battery type, the market is sub-segmented into NiMH electric car, Li-Ion electric car, and other battery-electric cars. Li-ion battery car market is expected to cover a major share in the near future. 

The companies which are contributing significantly in the market include BMW AG, Daimler AG (Smart), Hyundai Motor Co., Jaguar Land Rover Ltd., Nissan Motor Co., Renault Group, Tesla, Inc., and so on. 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 brings 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. Italy Electric Car Market Research and Analysis by Vehicle Type 
2. Italy Electric Car Market Research and Analysis by Propulsion Technology
3. Italy Electric Car Market Research and Analysis by Battery Type

The Report Covers

• Comprehensive research methodology of Italy Electric Car 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 Italy Electric Car Market.
• Insights about market determinants that are stimulating Italy Electric Car Market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.