Factor Propelling the Growth of the market
Growing awareness of vehicle emissions, lower operating and maintenance costs, along with increasing government initiatives to encourage the use of electric vehicles, will also help in driving the growth of high-performance electric vehicles significantly. The growing demand for these type of vehicles is primarily due to the increasing popularity of racing events in Europe. Spanish engineering company Applus+ unveiled its Volar-e supercar prototype at the Circuit de Catalunya in Barcelona. Developed as per European Commission guidelines and based on the Rimac Concept One, the all-electric Volar-e is primarily built to strike the market, for the F1 circuit to be held there. Also, the government and companies in the private sector are jointly focusing on battery electric vehicles and using eco-friendly transport. Germany has set itself the ambitious target of achieving a 40% reduction on 1990 CO2 emission levels by 2020. As a result, Germany unveiled a plan to increase electric vehicle production to 1 million units by the end of 2020, which is expected to increase the demand for EHPV.
Tesla pioneered the concept of EHPV, supporting and encouraging their development. They are developing cost-effective but high-performance electric vehicles to leverage the adoption of electric vehicles in the region. The company hopes that the initiative will spur consumer acceptance and create a network of supporting businesses, such as EV charging stations and service centers. The high cost of ownership, coupled with lack of adequate charging infrastructure in many countries, is one of the challenges that the market can face in the forecast period.
Key Developments in the Market
- March 2018: The new BMW Motorrad BoxerCup to start in spring 2018.
- March 2018: Tesla Roadster rival Rimac to partner with China for battery and electric motor factory.
- January 2018: Kia motors launched 4d virtual test drives for the all-new stinger sports sedan.
Reasons to Purchase this Report
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The vehicle type that is expected to dominate the market
- The countries that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
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1.1 Research Methodology
1.2 General Study Assumptions
2. Research Methodology
2.2 Analysis Methodology
2.3 Study Assumptions
2.4 Econometric Forecast Model
3. Executive Summary
4. Market Overview and Technology Trends
4.1 Current Market Scenario
4.2 Technology Trends
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products and Services
4.3.5 Competitive Rivalry within the Industry
5. Market Dynamics
5.1.1 Governments’ Favorable Policies
5.2.1 Inadequate Charging Infrastructure
6. Europe Automotive High-performance Electric Vehicle, by Drive
6.1 Plug-in Hybrid
6.2 Pure Electric
7. Europe Automotive High-performance Electric Vehicle, by Vehicle
7.1 Passenger Vehicles
7.2 Commercial vehicles
8. Europe Automotive High-performance Electric Vehicle, Segmented by Geography
8.2 United Kingdom
8.4 Rest of Europe
9. Competitive Landscape
9.2 Market Share Analysis
10. Company Profiles
10.3 General Motors
10.8 Tesla Motors
11. Future Outlook