Battery Electric Vehicles - France

France

Highlights

In 2024, the projected revenue in the Battery Electric Vehicles market is estimated to reach US$21.7bn.
This market segment is expected to demonstrate a compound annual growth rate (CAGR) of 8.27% from 2024 to 2029, resulting in a projected market volume of US$32.3bn by 2029.
By that year, it is anticipated that the unit sales in the Battery Electric Vehicles market will reach 449.40k vehicles.
Additionally, the volume weighted average price of Battery Electric Vehicles market in 2024 is projected to be US$71.8k.
When examining this market segment from an international perspective, it is evident that China is expected to generate the highest revenue, amounting to US$211bn in 2024.
in France, being a significant player in the Battery Electric Vehicles market, will contribute to the overall growth and development of this segment.
France is experiencing a surge in demand for Battery Electric Vehicles, driven by government incentives and a growing awareness of environmental sustainability.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Battery Electric Vehicles market in France has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for the growth of the Battery Electric Vehicles market in France is the increasing demand for environmentally-friendly transportation options. Customers are becoming more conscious of the impact of traditional vehicles on the environment and are seeking alternatives that are more sustainable. Battery Electric Vehicles offer a clean and efficient mode of transportation, with zero emissions and lower carbon footprints compared to traditional gasoline-powered vehicles.

Trends in the market: The French government has been actively promoting the adoption of Battery Electric Vehicles through various incentives and policies. These include subsidies and tax breaks for purchasing Battery Electric Vehicles, as well as the development of charging infrastructure across the country. These initiatives have helped to reduce the initial cost of Battery Electric Vehicles and address concerns about range anxiety, making them a more attractive option for customers. Another trend in the Battery Electric Vehicles market in France is the increasing availability and variety of models. Major automakers have been introducing new Battery Electric Vehicle models to cater to the growing demand in the market. This has expanded the options available to customers and has made Battery Electric Vehicles more accessible to a wider range of consumers.

Local special circumstances: France has a well-developed public transportation system, particularly in major cities like Paris. However, there are still areas where public transportation options are limited, and Battery Electric Vehicles can provide a convenient and sustainable alternative for commuting. Additionally, France has a strong charging infrastructure network, with a growing number of public charging stations across the country. This makes it easier for Battery Electric Vehicle owners to charge their vehicles, further increasing the appeal of these vehicles.

Underlying macroeconomic factors: The Battery Electric Vehicles market in France is also influenced by macroeconomic factors. The country has been investing in renewable energy sources, such as wind and solar power, which contribute to the overall transition towards a greener economy. This focus on sustainability aligns with the growing demand for Battery Electric Vehicles and creates a favorable environment for their adoption. Furthermore, the French government has set ambitious targets to reduce greenhouse gas emissions and combat climate change. The promotion of Battery Electric Vehicles is seen as a key strategy to achieve these targets, which provides further support for the growth of the market. In conclusion, the Battery Electric Vehicles market in France is experiencing significant growth due to increasing customer preferences for environmentally-friendly transportation options, government incentives and policies, a growing variety of models, well-developed public transportation systems, a strong charging infrastructure network, and underlying macroeconomic factors such as investments in renewable energy and climate change targets.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).