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The Australia electric vehicle market size reached approximately USD 8 billion in 2023. The market is assessed to grow at a CAGR of 18.4% between 2024 and 2032 to attain a value of around USD 8.80 billion by 2032.
Electric vehicles (EVs) are automobiles propelled by one or more electric motors, utilising electrical energy stored in rechargeable batteries or another energy storage device. They differ from traditional internal combustion engine vehicles by relying solely on electricity for power instead of gasoline or diesel fuel.
These vehicles are manufactured in three different types, including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hybrid electric vehicles (HEVs). They run entirely on electricity stored in rechargeable batteries. Since they do not have an internal combustion engine, they produce zero emissions while driving. Lithium-ion batteries are the most commonly used due to their energy density and efficiency.
Moreover, commitments by the Australian government under the Net Zero Emissions 2050 plan and the Paris Agreement are expected to boost the share of EVs in the transportation system to lower greenhouse gas emissions in the forecast period.
Based on the platform, the market is categorised into two-wheeler, three-wheeler, and four-wheeler. On the basis of propulsion type, the Australia electric vehicle market segmentation includes battery electric vehicles, hybrid electric vehicles, fuel cell electric vehicles, and plug-in hybrid electric vehicles.
By price range, the market is divided into low-priced, mid-price, and luxury. The market, based on vehicle type, is categorised into passenger cars and commercial vehicles.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Australia electric vehicle market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
According to the Australia electric vehicle market analysis, four-wheelers have been gradually gaining popularity. Various federal and state-level incentives, such as rebates, tax breaks, and subsidies for EV purchases, have been introduced to encourage their adoption. Efforts have been made to expand the charging infrastructure across the country, making it more feasible for people to own and use electric vehicles. More manufacturers are introducing electric models to the Australian market, providing consumers with a broader range of choices for four-wheel electric vehicles.
Meanwhile, the demand for two-wheelers, particularly motorcycles and scooters, in Australia has shown fluctuations without significant sustained growth. However, local companies such as Benzina introducing their sport electric scooters is likely to propel the development of the market.
Battery electric vehicles are expected to account for a major portion of the Australia electric vehicle market share. The rising adoption of these vehicles can be attributed to the ongoing efforts to expand the charging infrastructure across cities and major highways in Australia. Increased accessibility to charging stations makes it more practical for people to own and operate BEVs.
In addition, more automakers are introducing BEV models into the Australian market, providing consumers with a wider selection of electric cars to choose from. Models like the Tesla Model 3, Nissan Leaf, Hyundai Kona Electric, and others have gained popularity.
BMW AG, headquartered in Munich, Germany, is a leading automobile manufacturers renowned for its production of luxury vehicles and motorcycles. Established in 1916, BMW has established a global presence and reputation for manufacturing high-quality automobiles under its BMW, Mini, and Rolls-Royce brands. The company's product line ranges from sedans and SUVs to electric vehicles, consistently emphasising innovation, performance, and premium design across its vehicle offerings.
Toyota Motor Corporation, headquartered in Toyota City, Japan, is one of the largest automobile manufacturers globally. Founded in 1937, Toyota has a wide-ranging product lineup encompassing vehicles across various segments, including sedans, trucks, hybrids, and electric vehicles. Renowned for its reliability, efficiency, and innovation, Toyota is recognised for its Toyota, Lexus, Daihatsu, and Hino brands. It's a pioneer in hybrid technology, with its Prius model being one of the most iconic hybrid cars globally.
Tesla Inc., based in Palo Alto, California, is a leader in electric vehicle (EV) manufacturing and sustainable energy solutions. Founded in 2003, Tesla focuses on producing fully electric vehicles, energy storage solutions, and solar products. Tesla's innovative approach to EVs has significantly influenced the automotive sector’s transition towards electric mobility. Additionally, Tesla is involved in developing self-driving technology and aims to revolutionise transportation through its vision for autonomous vehicles.
Other Australian electric vehicle market players are Mazda Motor Corp., Hyundai Group, AUDI AG, Mercedes-Benz Group AG, Honda Motor Co., Ltd., Nissan Motor Co., Ltd., and Australian Electric Motor Co, among others.
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 Platform |
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Breakup by Propulsion Type |
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Breakup by Price Range |
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Breakup by Vehicle Type |
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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 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
In 2023, the market attained a value of nearly USD 8 billion.
The market is assessed to grow at a CAGR of 18.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 8.80 billion by 2032.
The market is anticipated to develop owing to the increasing affordability of electric vehicles and the presence of manufacturing facilities of critical minerals and raw materials for EVs, such as lithium.
The growth of the market is driven by the increasing charging infrastructure around the country and the introduction of favourable government policies.
The major propulsion types in the market are battery electric vehicle, hybrid electric vehicle, fuel cell electric vehicles, and plug-in hybrid electric vehicles.
The significant platforms in the market are two-wheelers, three-wheelers, and four-wheelers.
The major players in the market are 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., and Australian Electric Motor Co, among others.
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