Canada Electric Car Market Size, Revenue, Future Plans and Growth, Trends Forecast 2027
Electric vehicles can play an important part in this evolving EV market, as Canada has highlighted them as a critical contributor to meeting our transportation sector greenhouse gas emissions reduction target of 12 megatonnes of CO2 by 2030. However, success will necessitate a collaborative ecosystem of participants. In 2019, more than 25 million light-duty vehicles were registered in Canada. EVs now account for a minor fraction of the market, with 168,000 vehicles sold. This is going to have to alter immediately. Canada aims to reduce emissions from light-duty vehicles by seven megatonnes by 2030, out of a total of 12 megatonnes. This will entail the replacement of 1.8 million internal combustion engines, or roughly 7% of the fleet of vehicles.
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Canada Electric Car Market Overview:
The " Canada Electric Car Market Analysis" is a thorough examination of the Canada Electric Car market, with an emphasis on market trends and analysis. This research aims to give an overview of the Canada Electric Car industry as well as a complete market analysis by segment and geography. The Canada Electric Car market is predicted to grow significantly over the forecast period. The report includes vital information on the market positions of the major Canada Electric Car companies, as well as notable industry trends and prospects.
Canada Electric Car Market reached was volume at 26700 thousand units. in 2020. Canada Electric Car Market size is estimated to grow at a CAGR of 20.2 %. The market is expected to reach a volume of 95670.93 thousand units in 2027.
Canada Electric Car Market Scope:
The research contains a PESTLE analysis to examine the strengths and weaknesses of the market's top players. The research explores the Canada Electric Car Market size, share, trends, total earnings, gross revenue, and profit margin in-depth in order to forecast the market and provide investors with expert insights to keep them up to date on market changes.
The study also includes company biographies, product photographs and specifications, capacity, production, price, cost, revenue, and contact information for the leading industry players in the Canada Electric Car market. This research looks into market trends, volume, and value on a , regional, and corporate scale. This study examines the whole Canada Electric Car Market Size from a worldwide standpoint, evaluating historical data and generating estimates.
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Canada Electric Car Market Segmentation:
Based on Type, the market is sub-segmented into BEV, PHEV and HEV. The Hybrid electric vehicle segment was leading the market in 2020. In Canada, hybrids are significantly more widespread than plug-in hybrids and fully electric vehicles. In 2019, 685 hybrids and 20 plug-in hybrids were sold in Canada, Hybrids' popularity is unsurprising: their ability to combine electricity and gasoline combustion eliminates the need for Canadian restricted charging outlets. They're also less expensive.
Canada Electric Car Market Key Players:
• BMW
• Renault
• Chevrolet
• Tesla
• Hyundai
• Jaguar I-Pace
• Mercedes-Benz
• Audi
• Kia
• Nissan Motor Corporation
• Polestar
• Rivian
• Lucid Motors
• Byton
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Primary and secondary research finds major market participants, whereas primary and secondary research estimates their market revenues. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a study of the major manufacturers' annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and market breakdowns, which are then cross-checked against primary data. The following is a list of a few firms involved in the Canada Electric Car industry.
Regional Analysis:
The Canada Electric Car study delves into the geographic analysis, which is further subdivided into sub-regions and nations. This portion of the research includes profit estimates as well as market share data for each nation. This section of the research goes through each region's and country's share and growth rate during the projected time period.
After examining political, economic, social, and technological aspects impacting the Canada Electric Car market in various areas, the research delivers a definitive PESTEL analysis for all five regions, including North America, Europe, Asia Pacific, the Middle East, Africa, and South America.
COVID-19 Impact Analysis on Canada Electric Car Market:
Customer behavior has changed as a result of the COVID-19 epidemic across all areas of society. Industries, on the other hand, will need to revise their strategy to account for changing market supply. This report provides an overview of the COVID-19's influence on the Canada Electric Car market and will assist you in developing your business in accordance with the new industry standards.
Under the COVID-19 Impact section, the Canada Electric Car Market Report offers 360-degree research ranging from the flexible supply chain and import limitations to provincial government policies and the firm's future impact. Primary market research (2021-2027), instances of venture rivalry, benefits and drawbacks of large company streams, and industry growth trends (2021-2027) have all been given.
Key Questions Answered in the Canada Electric Car Market Report are:
How big is the market for Canada Electric Car?
Which regional market will emerge as the market leader in the next years?
Which application category is expected to develop the fastest?
What opportunities for growth may exist in the Canada Electric Car industry in the next years?
What are the most significant future challenges that the Canada Electric Car market may face?
Who are the market leaders in the Canada Electric Car category?
What are the main trends that are influencing market growth?
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