Rise in Demand for Electric Car is Expected to Drive the Spain Electric Car Market
Published: Feb 2021
Spain electric car market is anticipated to grow with a significant CAGR of 21.0% during the forecast period (2019-2025). Growing environmental concerns, rising government initiatives, and the rising demand for zero-emission vehicles are expected to drive the market. A growth of around 48% was reported on the Spain electric car market in 2019 and reached around 17,500 compared to 11,800 in 2018, as per the International Energy Agency (IEA).
Rising Electric Bus Fleet to Play Significant Part in Growth of the South Korea Electric Bus Market
Published: Feb 2021
South Korea electric bus market is anticipated to grow at a significant rate during the forecast period (2019-2025). The major factors that are driving the market include the rising demand for improvement in public transport, the cohesive government plan for electrification of public transport, and rapid urbanization.
Government Target to Reduce Use of Petrol and Diesel Cars to Drive the Sweden Electric Vehicle Market
Published: Feb 2021
Sweden electric vehicle market is projected to grow at an exponential CAGR of more than 18.0% during the forecast period (2019-2025). The key factor to drive the growth of the market includes the rising need for energy requirements. The EV market has been growing due to increasing demand for low carbon emissions and reduced levels of greenhouse gas.
Government Support is Driving the Sweden Electric Car Market
Published: Feb 2021
The Sweden electric car market is projected to grow at a significant CAGR of more than 20% during the forecast period (2019-2025). The key factors propelling the growth of the market include government support in the country. According to BIL Sweden, In March 2020, out of total new registrations, 32.2% share of the rechargeable passenger car was in Sweden.
Favorable Government Support to Drive the Spain Electric Vehicle Market
Published: Feb 2021
Spain electric vehicle market is projected to grow at an exponential CAGR of more than 23.0% during the forecast period (2019-2025). The factors that are driving the market growth include the increasing government incentives, presence of major players, and growth in electric vehicle charging infrastructure. In July 2020, SEAT, an automotive company has announced the amount of $5.7 billion to build electric cars in 2020-2025 in Spain.
Increase in Sales Due to Government Support is Driving the Norway Electric Car Market
Published: Feb 2021
Norway electric car market is projected to grow at a CAGR of more than 16.0% during the forecast period (2019-2025). The factors such as the highest ratio of sales of electric cars due to government support are driving the growth of the market. As per the government data in January 2021, in Europe, Norway was dominating the electric car market in 2020.
Government Subsidies to Surge the Japan Electric Two-Wheeler Market
Published: Feb 2021
Japan electric two-wheeler market is projected to grow at a considerable CAGR during the forecast period (2019-2025). The increasing government subsidies on EVs, and the increasing renewable energy sector are the key factors to make a considerable contribution towards the growth of the electric two-wheeler industry in the country. Japan government plans to have zero emission country by 2050 and want to tighten the emission target for vehicles by 2030.
Government Incentives and Subsidies to Control Pollution Drive the European Electric Two-Wheeler Market
Published: Feb 2021
The European electric two-wheeler market is projected to grow at a considerable CAGR during the forecast period (2019-2025). The key factors to propel the growth of the market include the increasing government initiatives and subsidies along with the need to control pollution. In 2019, in Luxembourg, subsidy up to $362 is available on the purchase of new electric bike and up to $604 is available on the purchase of motorcycle, moped, and light motorcycle.
Rising Need of Future Energy Requirement Drive the China Electric Rickshaw Market
Published: Feb 2021
China electric rickshaw market is projected to grow at a considerable CAGR during the forecast period (2019-2025). The factors that are propelling the growth of the market include the adoption of the electric rickshaw for public transport, rising need for energy requirement, and government incentives for the electric rickshaw is growing the China electric rickshaw market.
Incentive Programs Surge the Canada Electric Vehicle Market Growth
Published: Feb 2021
Canada electric vehicle market is expected to grow at a significant CAGR of over 18.0% during the forecast period (2019-2025). The factors that drive the growth of the market include the supportive programs to encourage the purchasse of Zero-emission vehicles. As of May 2019, all Canadians who purchase EVs or plug-in hybrids are eligible for an incentive of $2,500 to $5,000 depending on the dealer’s terms and conditions.