Australia electric car market is projected to show an exponential growth rate during the forecast period. The electric car market is at a preliminary stage in the country and very few car models are available in the market which includes Tesla Model S, 3, and X, Hyundai Kona, Nissan Leaf, and Jaguar I-Pace. Moreover, the electric car share in the automobile market is less than 1% each year which is very low as compared to developed economies all across the globe including Germany, UK, Norway, Japan, and others. Due to the small market size, car sales in the country have almost doubled to around 5,000 in 2019. One of the major restraints to market growth is the lack of any major subsidy on the electric vehicle in the country.
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Australia electric car market is studied based on vehicle type, propulsion technology, and battery type. On the basis of vehicle type, the market is segmented into hatchback, sedan, and SUV. Sedan is expected to have a significant market share due to the presence of Tesla Model 3 in the country, which is further expected to increase in the near future. By propulsion technology, the market is further segmented into battery-electric cars and plug-in hybrid electric cars. The battery-electric car market is expected to show considerable growth in the country. By battery type, the market is further sub-segmented into NiMH, Li-Ion, and others. Li-ion batteries vehicle is expected to cover a major market share in the near future.
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Major players offering electric cars in the market include Tesla, Inc., BMW AG, Hyundai Motor Co., Jaguar Land Rover Ltd., Mitsubishi Motors Corp., Nissan Motor Co. Moreover, various companies are going to introduce their EV model in the country which includes SAIC owned MG Hector, Mini Cooper, Mercedes, Polestar, Porsche 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.
Australia Electric Car Market Segmentation
By Vehicle Type
By Propulsion Technology
By Battery Type
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