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Report
Australia Electric Vehicle Market Report and Forecast 2024-2032
Market Report I 2024-04-08 I 160 Pages I EMR Inc.
Australia Electric Vehicle Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the Australia electric vehicle market size reached a value of USD 8 billion in 2023. Aided by the supportive government policies, technological advancements, and a growing awareness of environmental concerns, the market is projected to further grow at a CAGR of 18.4% between 2024 and 2032 to reach a value of USD 8.80 billion by 2032.
An electric vehicle (EV) is a vehicle that is propelled by one or more electric motors, using energy stored in rechargeable batteries. Unlike conventional vehicles that use a gasoline or diesel-powered engine, electric vehicles operate on electricity, which can come from various sources such as fossil fuels, nuclear power, renewable sources, or any combination thereof.
As per the Australia electric vehicle market analysis, there is an increasing demand for sustainable and eco-friendly transportation options among Australian consumers. This shift in consumer preferences is largely driven by heightened awareness of climate change and its impacts, coupled with the desire to reduce carbon footprints. Secondly, government incentives and policies play a crucial role in promoting the adoption of electric vehicles. Various federal and state-level initiatives, including rebates, tax exemptions, and funding for charging infrastructure, have made EVs more accessible and attractive to potential buyers.
The variety of electric vehicle models available in the electric vehicle market in Australia is expanding rapidly. This trend is driven by global automakers entering the Australian market with their EV lineups and existing players broadening their electric offerings. From compact cars and sedans to SUVs and trucks, consumers now have a wider range of electric vehicles to choose from, catering to different preferences, needs, and budgets. This diversity is expected to enhance consumer interest and drive further adoption.
As per the Australia electric vehicle market outlook, there is a growing trend towards electrifying public transportation systems, including buses and light rail, in major Australian cities. This shift not only helps reduce carbon emissions and improve urban air quality but also serves as a public endorsement of electric mobility, potentially influencing consumer perceptions and adoption rates. Investments in electric public transportation infrastructure reflect a broader commitment to sustainable urban development and could accelerate the overall adoption of EV technology.
To address concerns around charging times and range anxiety, there is a significant investment in developing ultra-fast charging stations across Australia, which supports the Australia electric vehicle market growth. These stations are capable of adding substantial range to an EV's battery in just minutes, making long-distance electric travel more feasible and convenient. The expansion of ultra-fast charging networks is expected to be a game-changer for the EV market, enhancing the practicality of electric vehicles for a wider range of consumers.
The market is witnessing a trend towards higher-performance and luxury electric models, catering to a segment of consumers seeking premium eco-friendly transportation solutions. Corporate and government fleet conversions to electric vehicles represent another significant trend propelling the Australia electric vehicle market expansion, driven by organisational sustainability goals and public sector leadership in environmental stewardship. This shift not only boosts EV sales but also serves as a powerful endorsement of electric mobility's viability and benefits.
Technological advancements in battery technology and electric drivetrains have also significantly contributed to the Australia electric vehicle market share. These innovations have led to improvements in vehicle range, performance, and charging times, addressing some of the primary concerns associated with EV adoption in the past. Additionally, the entrance of new players and the expansion of existing automakers' EV lineups have intensified competition, leading to a broader range of models and more competitive pricing.
Market Segmentation
The market can be divided based on platform, propulsion type, price range, and vehicle type.
Market Breakup by Platform
- Two-Wheeler
- Three-Wheeler
- Four-Wheeler
Market Breakup by Propulsion Type
- Battery Electric Vehicles
- Hybrid Electric Vehicles
- Fuel Cell Electric Vehicles
- Plug-in Hybrid Electric Vehicles
Market Breakup by Price Range
- Low-priced
- Mid-priced
- Luxury
Market Breakup by Vehicle Type
- Passenger Cars
- Commercial Vehicles
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Australia electric vehicle market. Some of the major players explored in the report by Expert Market Research are as follows:
- BMW AG
- Toyota Motor Corporation
- Tesla Inc.
- Mazda Motor Corp.
- Hyundai Group
- AUDI AG
- Mercedes-Benz Group AG
- Honda Motor Co., Ltd.
- Nissan Motor Co., Ltd.
- Australian Electric Motor Co
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Electric Vehicle Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Electric Vehicle Historical Market (2018-2023)
8.3 Asia Pacific Electric Vehicle Market Forecast (2024-2032)
8.4 Asia Pacific Electric Vehicle Market Share by Region
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 ASEAN
8.4.5 Australia
8.4.6 Others
9 Australia Electric Vehicle Market Overview
9.1 Key Industry Highlights
9.2 Australia Electric Vehicle Historical Market (2018-2023)
9.3 Australia Electric Vehicle Market Forecast (2024-2032)
10 Australia Electric Vehicle Market by Platform
10.1 Two-Wheeler
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Three-Wheeler
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Four-Wheeler
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 Australia Electric Vehicle Market by Propulsion Type
11.1 Battery Electric Vehicles
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Hybrid Electric Vehicles
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Fuel Cell Electric Vehicles
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Plug-in Hybrid Electric Vehicles
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
12 Australia Electric Vehicle Market by Price Range
12.1 Low-priced
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Mid-priced
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Luxury
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 Australia Electric Vehicle Market by Vehicle Type
13.1 Passenger Cars
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Commercial Vehicles
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 BMW AG
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Toyota Motor Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Tesla Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Mazda Motor Corp.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Hyundai Group
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 AUDI AG
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Mercedes-Benz Group AG
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Honda Motor Co., Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Nissan Motor Co., Ltd.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Australian Electric Motor Co
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Electric Vehicle Market: Key Industry Highlights, 2018 and 2032
2. Australia Electric Vehicle Market: Key Industry Highlights, 2018 and 2032
3. Australia Electric Vehicle Historical Market: Breakup by Platform (USD Billion), 2018-2023
4. Australia Electric Vehicle Market Forecast: Breakup by Platform (USD Billion), 2024-2032
5. Australia Electric Vehicle Historical Market: Breakup by Propulsion Type (USD Billion), 2018-2023
6. Australia Electric Vehicle Market Forecast: Breakup by Propulsion Type (USD Billion), 2024-2032
7. Australia Electric Vehicle Historical Market: Breakup by Price Range (USD Billion), 2018-2023
8. Australia Electric Vehicle Market Forecast: Breakup by Price Range (USD Billion), 2024-2032
9. Australia Electric Vehicle Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
10. Australia Electric Vehicle Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
11. Australia Electric Vehicle Market Structure
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