Europe Electric Vehicle Market Trends: Growth, Share, Value, Size, and Analysis By 2030

As per MarkNtel The Europe Electric Vehicle Motor Market size was valued at around USD32.9 billion in 2024 and is projected to reach USD80.2 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 16% during the forecast period, i.e., 2025-30.

Europe Electric Vehicle Market Systems Market Insights:

This market growth is observed due to the increase in the demand for electronic and hybrid vehicles, advancements in technology, the rise in the implication of strict regulations, and others. The demand for hybrid and electric vehicles has surged significantly with government support. European officials are implementing numerous policies and schemes to promote the growth of electric vehicles. This is due to achieving the aim to reduce carbon emissions, thus supporting low-emission products such as electric vehicles. The electric motor is compact and lightweight, and is fuel-efficient as it reduces emissions over the traditional internal combustion engine. The electronic vehicle dynamics work on the electronic motors, thus raising the utility of electric motors. Furthermore, the electric motors are equipped with sensors and technologies that conveniently reduce the load exerted by the driver while driving. Hence, providing an expensive premium experience to the driver.

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Europe Electric Vehicle Market Systems Market Segmentation:

By Component

Motor Stator - Market Size & Forecast 2020-2030, USD Million
Rotor, Shaft, Bearing - Market Size & Forecast 2020-2030, USD Million
Permanent Magnet -Market Size & Forecast 2020-2030, USD Million
Casting-Market Size & Forecast 2020-2030, USD Million
Wiring & Connectors-Market Size & Forecast 2020-2030, USD Million
Others-Market Size & Forecast 2020-2030, USD Million

By Demand

OEMs - Market Size & Forecast 2020-2030, USD Million
Aftermarket - Market Size & Forecast 2020-2030, USD Million

By Type

Permanent Magnet Synchronous Magnet (PMSM) - Market Size & Forecast 2020-2030, USD Million
Induction Motor - Market Size & Forecast 2020-2030, USD Million
Switch Reluctance Motor (SRM) - Market Size & Forecast 2020-2030, USD Million

By Power Rating

Up to 20 kW - Market Size & Forecast 2020-2030, USD Million
21kW-100kW - Market Size & Forecast 2020-2030, USD Million
101kW-250kW - Market Size & Forecast 2020-2030, USD Million
Above 250 kW - Market Size & Forecast 2020-2030, USD Million

By Variant

Battery Electric Vehicle (BEV) - Market Size & Forecast 2020-2030, USD Million
Hybrid Electric Vehicle (HEV) - Market Size & Forecast 2020-2030, USD Million
Fuel Cell Electric Vehicle (FCEV) - Market Size & Forecast 2020-2030, USD Million

By Range

Up to 150km - Market Size & Forecast 2020-2030, USD Million
151km-300km - Market Size & Forecast 2020-2030, USD Million
301km-500km - Market Size & Forecast 2020-2030, USD Million
Above 500km - Market Size & Forecast 2020-2030, USD Million

By End-User

Electric Passenger Cars-Market Size & Forecast 2020-2030, USD Million
Sedan-Market Size & Forecast 2020-2030, USD Million
SUV-Market Size & Forecast 2020-2030, USD Million
Hatchback-Market Size & Forecast 2020-2030, USD Million
Electric Commercial Vehicles- Market Size & Forecast 2020-2030, USD Million
Electric Light Commercial Vehicles- Market Size & Forecast 2020-2030, USD Million
Electric Light Trucks- Market Size & Forecast 2020-2030, USD Million
Electric Minivans- Market Size & Forecast 2020-2030, USD Million
Electric Medium & Heavy Commercial Vehicles- Market Size & Forecast 2020-2030, USD Million
Electric Trucks- Market Size & Forecast 2020-2030, USD Million
Electric Bus- Market Size & Forecast 2020-2030, USD Million
Electric Two-Wheelers- Market Size & Forecast 2020-2030, USD Million
Electric Scooters- Market Size & Forecast 2020-2030, USD Million
Electric Motorcycles- Market Size & Forecast 2020-2030, USD Million
Electric Three-Wheelers- Market Size & Forecast 2020-2030, USD Million

By Region

Germany
The UK
France
Italy
Spain
The Netherlands
Scandinavia
Rest of Europe

Europe Electric Vehicle Market Recent Development:

2024: Valeo partnered with Renault to produce the next generation of rare-earth metals electric motors in Italy.
2024: Schaeffler invested in expanding the charging infrastructure globally with 3,000 charging points in Europe.

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Europe Electric Vehicle Market Drivers:

Stringent Government Regulations Boosting Market Demand – As per global organizations, Europe is ranked as the fourth-largest emitter of greenhouse gases in 2023. Thus, this has pushed the European government to issue several guidelines and standard regulations, and policies to minimize such emissions. As a consequence, electric vehicles are promoted due to their relatively low emission of CO2. Electric vehicles use electricity to induce magnetism, and the vehicle runs on this dynamic. In this dynamics, there is no emission of toxic gases into nature, which is observed in conventional vehicles and motors. This has resulted in a shift of consumers towards electric vehicles, with approximately 51.6% of the total vehicles sold in Europe being electric. This surge in the demand for electric vehicles directly raises the demand for electric vehicle motors.

Report Highlights Essential Insights for Strategic Decision-Making

Detailed market size, share, and forecast analysis
• In-depth pricing trends and segment-wise cost evaluations
• Key industry strategies, including innovation, partnerships, and acquisitions
• Critical value chain analysis and stakeholder profiling
• Regional import-export market insights and trade flow assessment
• Thorough competitive benchmarking of top hearing aid manufacturers
• Identification of new growth opportunities and niche market segments
• Overview of market trends, drivers, and challenges shaping future demand

Some of the leading players in the Europe Electric Vehicle Market are:

Siemens AG
Bosch
Schaeffler
ZF Friedrichshafen AG
Valeo
Continental AG
Nidec Corporation
YASA Motors
BorgWarner
GKN Automotive
Magna International and others.

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Research Methodology Summary

A systematic approach is used to ensure accurate market insights, combining both bottom-up and top-down methods. Data triangulation validates findings from multiple angles.

Key Steps:

Define objectives and research design
Collect data through surveys and interviews
Analyze and validate data using reliable tools
Forecast trends and deliver actionable insights

About us:

MarkNtel Advisors is a leading global market intelligence firm specializing in the food and beverages industry, encompassing food supplements & additives, food logistics, and warehousing solutions. We deliver comprehensive research on supply chain efficiency, evolving consumption trends, and regulatory shifts. With our Custom Market Analysis, we offer tailored insights to manufacturers, distributors, and investors, helping them optimize operations, strengthen market positioning, and drive sustainable growth in the global F&B ecosystem.

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