The report of Italy Electric Car Market by Technology (BEV, PHEV, HEV), Product (Hatchback, Sedan, SUV, Others), Battery (LFP, Li-NMC, Others), Battery Capacity (>201 Ah, <201 Ah), and End-User (Shared mobility providers, Government organizations, Personal users, Others) is expected to reach US$ XX Bn by 2027, at a CAGR of XX % during a forecast period.
Italy Electric Car Market Drivers & Restraints:
Out of an entire number of more than 50 Mn vehicles on the street in Italy at the end of 2018, about 6,000 were battery electric passenger cars while about 120,000 were petrol & diesel hybrid passenger cars. In 2018, total new passenger car recordings raised by about 16 percent compared to 2017, reaching a total of 1,824,568; new BEV passenger car recordings slowed down by about 5.3 percent compared to the last year, while new plug-in hybrid electric passenger car recordings raised by about 63 percent: fully, new electrically chargeable passenger cars raised by about 20.7 percent. Also, new hybrid passenger car recordings improved significantly to 2016, with a rate of 47.2 percent. New other alternative fuel passenger car recordings had a major reduction by about 20.7 percent.
Italy’s Tiny EV Market Doubles Again:
It has taken a long time, but Italy’s electric car market is finally starting to take off. Official figures as confirmed by MMR around 10,566 battery-electric cars were sold in the Bel Paese in the twelve months of 2019, doubling 2018 sales & combining a trend of exponential development started two years ago. Italy is the fourth leading car market in Europe after Germany, France, & the UK. With nearly 2 Mn cars sold annually, an unbelievable automotive history, & Italy’s sustainability licenses from renewable electricity to green buildings to smart grid technology, one would expect this to be the flawless market for early EV adoption. Italy’s electric car market is still very small, with ~10,000 Electric Vehicles accounting for only 0.5 percent of the country’s entire car sales in 2019. But there are numerous marks for optimism, trends which show that Italy and other key countries will soon be shifting away from very low Electric Car Market share into normal adoption.
Recent Industry News
The automotive industry has witnessed almost a complete shutdown of unusual percentage in comparison to other sectors as the nations worldwide are hit by severe lockdown in April this year. But it is noteworthy that Italy’s full-electric cars only lost about 58% of its sales as compared to April 2019. Moreover, out of all Italy’s car sales in April electric cars made an unbreakable record of 11.6% sales.
Italy will be joining France and Germany to revive the automotive industry in this coronavirus crisis. As per Italy’s transport ministry data, new car registrations in Italy dropped by 46% in the first half of this year and it is estimated to 700,000 units by the end of 2020.
Fiat Chrysler, Italy’s largest automaker, is planning to roll out its first alternative engine model with an electric version of the Fiat 500 small car this summer.
Key players operating in the Italy Electric Car Market, BMW, Daimler, General Motors, Nissan, Ford, Renault, Rimac, Tesla Motors, Kia, Mitsubishi, Peugeot, Volkswagen
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about Italy Electric Car Market. The report encompasses the market by different segments, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in Italy Electric Car Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Italy Electric Car Market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Italy Electric Car Market.”
https://www.maximizemarketresearch.com/market-report/italy-electric-car-market/65711/
Contact:
MAXIMIZE MARKET RESEARCH PVT. LTD.
Omkar Heights,
Manik Baug, Vadgaon Bk,
Sinhagad Road, Pune – 411051, Maharashtra, India.
+91 9607195908