Norway Electric Car Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at XX% from 2020 to 2027, reaching US$ XX Mn.
Norway Electric Car Market Overview:
Nearly 60 percent of new electric cars were sold in Norway in March 2019. This is the newest record-breaking figure involving Norway & EV records as the Scandinavian country looks to end sales of fossil-fueled vehicles by the year 2025.
The figures could be even greater, but many Norwegians find themselves on big waiting lists as franchises fight to import sufficient cars. According to industry numbers, a total of 11,518 electric vehicles were recorded in Norway in the first quarter of 2019, double as several as the last year. The new Tesla Model 3, Nissan Leaf & Volkswagen Golf accounts for the highest registrations. Though unit sales in China & the U.S. are extremely greater, Norway remains the picture child of Electric vehicle development. This is due to more Electric Vehicles on Norway streets compare to total cars than anywhere else in the world.
Continuous headlines over the last few years have left several societies scratching their heads to know why and how a small country like Norway with a population just over five Mn leads the Electric Vehicle development. The answer is simple -encouraging environmental math, & fiscal incentives.
Despite its status as a key oil industry player, nearly all of Norway’s national energy comes from hydropower. Many of the nation’s electricity is renewable, a switch to Electric Vehicles is a far greener equation than it would be for nations whose electricity comes from nonrenewable plants. To make the shift happen, the Norway government has invested greatly in economic incentives & charging infrastructure. In 1990, the government announced incentives for electric vehicle owners. Huge changes began to come with time when highway tax was dropped, values for toll highway & public ferries were removed, & free parking was opened in several municipal car parks. The nation’s wide charging set-up was kick-started by government fund, private firms are now taking over actions & there has been a lot of interest from foreign counterparts. The government reached its goal of 50,000 zero-emission vehicles on the street 3 years earlier than scheduled.
Electric vehicle in Norway:
Norway Electric Car Market1
Electric cars take 44 percent market share in Norway:
In January 2019, electric cars made up 37.8 percent of sales in the state & scaled in succeeding months to a total of 42.4 percent market share for the whole year. German auto manufacturer Audi’s fully electric sports function car was Norway’s best-selling car for the 2nd time, beating a market share of 9.4 percent. Audi supplied 902 electric SUVs, ahead of Renault’s Zoe with 533 cars & Volkswagen’s Golf with 511.
The objective of the report is to present a comprehensive analysis of the Norway Electric Car Market including all the stakeholders of the industry. The past and current status of the industry with 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 includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have 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 report also helps in understanding Norway’s Electric Car Market dynamics, structure by analyzing the market segments and project the Norway Electric Car Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Norway Electric Car Market make the report investor’s guide.
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Norway Electric Car Market, By Technology
• BEV
• PHEV
• HEV
Norway Electric Car Market, By Product
• Hatchback
• Sedan
• SUV
• Others
Norway Electric Car Market, By Battery
• LFP
• Li-NMC
• Others
Norway Electric Car Market, By Battery Capacity
• >201 Ah
• Norway Electric Car Market, By End-User
• Shared mobility providers
• Government organizations
• Personal users
• Others
Norway Electric Car Market Key Player
• BMW
• Renault
• Chevrolet
• Tesla
• Hyundai
• Jaguar I-Pace
• Mercedes-Benz
• Audi
• Kia
• AB Volvo
• Hyundai Motor Co.
• Mitsubishi Motors Corp.
• Nissan Motor Co.
• Porsche Taycan
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