Finland Electric Car Market 2019-2025

Finland Electric Car Market Size, Share & Trends Analysis Report by Vehicle Type (Hatchback, Sedan, SUV) by Propulsion Technology (Battery, Plug-in-Hybrid) by Battery Type (NiMH, Li-ion, Other), and Forecast 2019-2025.

Finland electric car market is projected to grow at a CAGR of more than 20% during the forecast period, 2019-2025. The country has witnessed a growth of 38% YoY in 2019 and electric car sales have reached nearly 7,900 in 2019. Government support, well-developed charging infrastructure, and high disposable income of the people are some of the major factors for the significant growth in the market. An individual can have a subsidy up to $2,200 for the new battery-electric car for a vehicle price up to $54,500. The government also offers $2,200 for scrapping the old fossil car model and purchasing a new electric car. In addition, the country has a minimum registration tax on electric vehicles and has imposed high taxes on diesel and petrol to demotivate fossil fuel cars in the country.

Finland electric car market is divided on the basis of vehicle type, propulsion technology, and battery type. On the basis of vehicle type, the market is further segmented into hatchback, sedan, and SUV. Some of the electric car models in the country include Volvo XC60 T8, Volvo S/V60, T8, Tesla Model 3, Mitsubishi Outlander PHEV, BMW 530e, Nissan LEAF, and others. On the basis of propulsion technology, the market is bifurcated into the battery-electric cars and plug-in-hybrid electric car. As per the European Automobile Manufacturers Association, more than 1,900 battery-electric cars were registered in the country in 2019 at an exponential growth rate of 145% YoY. Moreover, around 6,000 plug-in hybrid cars were registered at a growth of 21% YoY. by battery type, the market is segmented into NiMH, Li-Ion, and others. Li-ion battery vehicle is expected to cover a major market share in the near future.

Some of the major companies contributing to the market include AB Volvo, Tesla, Inc., Mitsubishi Motors Corp., BMW AG, Volkswagen AG, Hyundai Motor Co., Jaguar Land Rover Ltd., Kia Motors Corp. and so on. The market players are considerably contributing to the market growth by adopting various growth strategies including new product launch, merger and acquisition, collaborations with government, and technological advancements to stay competitive in the market.

Research Methodology

The market study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors.

Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts to brings authenticity to the reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.
• Government Websites

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation:

1. Finland Electric Car Market Research and Analysis by Vehicle Type
2. Finland Electric Car Market Research and Analysis by Propulsion Technology
3. Finland Electric Car Market Research and Analysis by Battery Type

The Report covers:

• Comprehensive research methodology of Finland Electric Car Market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting Finland Electric Car Market.
• Insights about market determinants that are stimulating Finland Electric Car Market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.