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The Australia electric car market size is expected to grow at a CAGR of 18.3% between 2024 and 2032.
The Australia electric car market is undergoing a significant transformation, embracing sustainable transportation as a key focus. While the growth of electric vehicles (EVs) has been steady, it remains relatively modest compared to other developed nations. EVs, powered by electric motors and rechargeable batteries, currently constitute less than 1% of total vehicle sales in Australia due to factors such as limited government incentives, high upfront costs, and inadequate charging infrastructure.
There's a gradual shift fuelled by growing environmental awareness, technological advancements, and declining battery costs. Major players like Tesla, Nissan, Hyundai, and Mitsubishi have introduced improved electric car models, aiming to attract Australian consumers. The government's initiatives, including proposed incentives and investments in charging infrastructure expansion, further encourage electric car uptake.
Despite progress, challenges persist, necessitating more aggressive policy support, public awareness campaigns, and infrastructure development. Government initiatives play a vital role in driving market growth, with states like New South Wales and Victoria leading the charge with EV-friendly policies and incentives.
Urban centres such as Sydney, Melbourne, and Brisbane stand out for their robust EV infrastructure and proactive governmental policies, fostering higher adoption rates. Over the medium term, factors like increasing demand for fuel-efficient vehicles and stricter emissions regulations are expected to drive market growth, along with investments and product launches by major OEMs. Moreover, government regulations phasing out fossil fuel-powered vehicles and investments in EV charging infrastructure are poised to further propel the Australia electric car market development.
Australia Electric Car Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Vehicle Class
Market Breakup by Drive Type
Market Breakup by Region
Market players are focusing on the development of new products and innovations, which will help them expand their product portfolio and attract a large number of consumers across the country.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Vehicle Class |
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Breakup by Vehicle Drive Type |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR 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 Australia Electric Car Market Overview
8.1 Key Industry Highlights
8.2 Australia Electric Car Historical Market (2018-2023)
8.3 Australia Electric Car Market Forecast (2024-2032)
9 Australia Electric Car Market by Type
9.1 Battery Electric Vehicle
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Plug-In Hybrid Electric Vehicle
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Fuel Cell Electric Vehicle
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
10 Australia Electric Car Market by Vehicle Class
10.1 Mid-Priced
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Luxury
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Australia Electric Car Market by Vehicle Drive Type
11.1 Front Wheel Drive
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Rear Wheel Drive
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 All-Wheel Drive
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 Australia Electric Car Market by Region
12.1 New South Wales
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Victoria
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Queensland
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Australian Capital Territory
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Western Australia
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Tesla Motors Australia Pty Ltd.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Hyundai Motor Company Australia Pty Ltd.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 BMW Australia Ltd.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 TATA Motors Australia (Jaguar Land Rover Ltd.)
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Volkswagen Group Australia Pty Ltd.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Australia Electric Car Market: Key Industry Highlights, 2018 and 2032
2. Australia Electric Car Historical Market: Breakup by Type (USD Million), 2018-2023
3. Australia Electric Car Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Australia Electric Car Historical Market: Breakup by Vehicle Class (USD Million), 2018-2023
5. Australia Electric Car Market Forecast: Breakup by Vehicle Class (USD Million), 2024-2032
6. Australia Electric Car Historical Market: Breakup by Vehicle Drive Type (USD Million), 2018-2023
7. Australia Electric Car Market Forecast: Breakup by Vehicle Drive Type (USD Million), 2024-2032
8. Australia Electric Car Historical Market: Breakup by Region (USD Million), 2018-2023
9. Australia Electric Car Market Forecast: Breakup by Region (USD Million), 2024-2032
10. Australia Electric Car Market Structure
The market is projected to grow at a CAGR of 18.3% between 2024 and 2032.
The market is categorised according to its type, which includes battery electric vehicle, plug-in hybrid electric vehicle, and fuel cell electric vehicle.
The key market players are Tesla Motors Australia Pty Ltd., Hyundai Motor Company Australia Pty Ltd., BMW Australia Ltd., TATA Motors Australia (Jaguar Land Rover Ltd.), Volkswagen Group Australia Pty Ltd., and others.
The market is driven by factors that include rising government initiatives, increasing investments in charging infrastructure expansion and growing environmental concerns, among others.
The market is categorised according to its drive type, which includes front wheel drive, rear wheel drive, and all-wheel drive.
Presently, electric vehicles account for merely 3.8% of new car sales in Australia, a stark contrast to Norway's impressive figure of 88%. However, there are signs of progress underway.
By the conclusion of June 2023, Australia had witnessed the sale of 46,624 electric vehicles (EVs), marking a staggering 269% surge compared to the corresponding period in 2022. With this surge, EVs now constitute 8.4% of the total new car sales in Australia.
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