Canada Electric Car Market: Industry Analysis and Forecast (2021-2027)

Canada Electric Car Market reached was volume at 26700 thousand units. in 2020. Canada Electric Car Market size is estimated to grow at a CAGR of 20.2 %. The market is expected to reach a volume of 95670.93 thousand units in 2027.

Canada Electric Car Market Overview:

Electric vehicles can play an important part in this evolving EV market, as Canada has highlighted them as a critical contributor to meeting our transportation sector greenhouse gas emissions reduction target of 12 megatonnes of CO2 by 2030. However, success will necessitate a collaborative ecosystem of participants. In 2019, more than 25 million light-duty vehicles were registered in Canada. EVs now account for a minor fraction of the market, with 168,000 vehicles sold. This is going to have to alter immediately. Canada aims to reduce emissions from light-duty vehicles by seven megatonnes by 2030, out of a total of 12 megatonnes. This will entail the replacement of 1.8 million internal combustion engines, or roughly 7% of the fleet of vehicles. Canada Electric Car Market To know about the Research Methodology :- Request Free Sample Report

Canada Electric Car Market Dynamics:

Transportation Sector Greenhouse Gas Emissions in Canada - The Automotive Parts Manufacturers Assoc. (APMA), a trade association that represents Canadian auto part manufacturers, has embraced the electric car trend. The organization is leading Project Arrow, a project to create what it calls Canada's first, original, full-build concept car. The Arrow, a zero-emissions electric-drive concept car, will be designed and engineered in Canada. The APMA is currently putting together a list of vendors for Project Arrow. Because EVs produce lower harmful emissions than conventional vehicles, increased adoption of EVs is predicted to reduce GHG emissions. However, the emissions reduction advantage of electric vehicles over conventional vehicles varies depending on the source of energy when measuring "well to wheel" GHG emissions (i.e., all emissions linked to gasoline production, processing, distribution, and consumption). Although over 80% of Canada's electricity is generated from non-GHG sources (including nuclear and renewables), EVs are expected to reduce the country's overall GHG emissions. This condition, however, may differ from one place to the next. Alberta, Saskatchewan, Nova Scotia, the Northwest Territories, and Nunavut, for example, rely on fossil fuels for more than half of their electricity, which could negate some of the environmental benefits. Electric vehicles have lower operating and maintenance costs than regular vehicles, in addition to the potential for lowering GHG emissions. Given that Canada already has roughly 150 enterprises and ten post-secondary schools pursuing EV research, they may provide economic benefits to the country. Role and Initiatives of the Federal Government - The federal government in Canada is in charge of ensuring that safety and emissions regulations are adhered to in the design and construction of cars manufactured or imported into the country. The Motor Vehicle Safety Act17 and the Motor Vehicle Safety Regulations are the laws that govern vehicle safety in Canada. The Canadian Environmental Protection Act, 1999, and its rules, such as the Passenger Automobile and Light Truck Greenhouse Gas Emission Regulations, govern vehicle emissions. Although most public infrastructure is built, operated, and maintained by provincial, territorial, and municipal governments, the federal government has played a growing role in supporting public infrastructure in all Canadian authorities have supported infrastructure projects, notably transportation infrastructure. In the field of electric vehicles, the federal government also conducts research and development. Natural Resources Canada is developing innovative battery technology and related vehicle components for hybrid and electric cars at its Can met ENERGY facilities. The federal government collaborates with other levels of government to minimize GHG emissions in the face of climate change. For example, it stated in May 2019 that, as part of the Pan-Canadian Framework on Clean Growth and Climate Change, it is developing a national strategy to expand the number of zero-emission vehicles on Canadian roads in collaboration with stakeholders and other levels of government. By 2019, the approach should be complete. In addition to domestic activities, Canada's involvement in the Clean Energy Ministerial Electric Vehicles Initiative (EVI), which provides a worldwide venue for collaboration on the development and deployment of EVs, is the responsibility of the federal government.

Canada Electric Car Market Segment Analysis:

Based on Type, the market is sub-segmented into BEV, PHEV and HEV. The Hybrid electric vehicle segment was leading the market in 2020. In Canada, hybrids are significantly more widespread than plug-in hybrids and fully electric vehicles. In 2019, 685 hybrids and 20 plug-in hybrids were sold in Canada, Hybrids' popularity is unsurprising: their ability to combine electricity and gasoline combustion eliminates the need for Canadian restricted charging outlets. They're also less expensive. Canada Electric Car Market Electric vehicle sales are increasing in Canada, although they still account for less than one percent of all vehicle sales. Buyers are being enticed to purchase electric vehicles by a variety of schemes and incentives, as well as lower vehicle costs, increased driving range, and shorter charging periods. Automotive sales in Canada fell in the first quarter of 2020, a factor that can be attributed to the massive-scale chaos wreaked by the coronavirus on global supply networks and would-be buyers. Despite this, EVs continue to gain a larger part of the overall light vehicle market in Canada. In Canada, 8,412 battery-electric and 3,586 plug-in hybrid vehicles were sold between January and March 2020. The 11,998 automobiles sold accounted for about 3.8 % of all light vehicles sold. The objective of the report is to present a comprehensive analysis of the Canada Electric Car Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help understand the Canada Electric Car Market dynamic and structure by analyzing the market segments and projecting the Canada Electric Car Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Canada Electric Car Market make the report investor’s guide.

Canada Electric Car Market Scope: Inquiry Before Buying

Canada Electric Car Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: 26700 Thousand units.
Forecast Period 2021 to 2027 CAGR: 20.02 % Market Size in 2027: 95670.93 Thousand units
Segments Covered: by Technology • BEV • PHEV • HEV
by Product • Hatchback • Sedan • SUV • Others
by Battery • LFP • Li-NMC • Others
by Capacity • >201 Ah • <201 Ah
by End use • Shared mobility providers • Government organizations • Personal users • Others

Canada Electric Car Market Key Players

BMW • Renault • Chevrolet • Tesla • Hyundai • Jaguar I-Pace • Mercedes-Benz • Audi • Kia • Nissan Motor Corporation • Polestar • Rivian • Lucid Motors • Byton Frequently Asked Questions: 1] What segments are covered in the Canada Electric Car Market report? Ans. The segments covered in the Canada Electric Car Market report are based on Type and Vehicle type 2] Who are the top 5 key players for Canada Electric Car market? Ans. BMW AG, DFSK Motors, Honda motor, Mazda and Nissan motors. 3] What is the market size of the Canada Electric Car Market by 2027? Ans. The market size of the Canada Electric Car Market by 2027 is expected to reach 95670.93 Thousand units 4] What is the forecast period for the Canada Electric Car Market? Ans. The Forecast period for the Canada Electric Car Market is 2020-2027. 5] What was the market size of the Canada Electric Car Market in 2020? Ans. The market size of the Canada Electric Car Market in 2020 was volume at 26700 Thousand units.
1.Canada Electric Car Market Size: Research Methodology 2. Canada Electric Car Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Canada Electric Car Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Canada Electric Car Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. COVID-19 Impact 4. Canada Electric Car Market Size Segmentation 4.1. Canada Electric Car Market Size, by Technology (2020-2027) • BEV • PHEV • HEV 4.1. Canada Electric Car Market Size, by Product (2020-2027) • Hatchback • Sedan • SUV • Others 4.2. Canada Electric Car Market Size, by Battery (2020-2027) • LFP • Li-NMC • Others 4.3. Canada Electric Car Market Size, by Capacity (2020-2027) • >201 Ah • <201 Ah 4.4. Canada Electric Car Market Size, by End use (2020-2027) • Shared mobility providers • Government organizations • Personal users • Others 5. Company Profile: Key players 5.1. BMW AG 5.1.1. Company Overview 5.1.2. Financial Overview 5.1.3. Presence 5.1.4. Capacity Portfolio 5.1.5. Business Strategy 5.1.6. Recent Developments 5.2. Renault 5.3. Chevrolet 5.4. Tesla 5.5. Hyundai 5.6. Jaguar I-Pace 5.7. Mercedes-Benz 5.8. Audi 5.9. Kia 5.10. Nissan Motor Corporation 5.11. Polestar 5.12. Rivian 5.13. Lucid Motors 5.14. Byton

About This Report

Report ID 65498
Category Automotive and Transportation
Published Date June 2020
Updated Date Jan 2022
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