Norway electric car market is projected to grow at a CAGR of more than 16.0% during the forecast period. The factors such as the highest ratio of sales of electric cars due to government support are driving the growth of the market. As per the government data in January 2021, in Europe, Norway was dominating the electric car market in 2020. According to the report of Opplysningsrådet for veitrafikken (OFV), the Norwegian Road Federation, in 2018, sales of electric cars were 31.2% and it rose to 42.4% in 2019, representing 9% growth in YoY in electric car sales. Besides this, 56% of Norway car sales were plug-in electric vehicle.
A full report of Norway Electric Car Market is available at: https://www.omrglobal.com/industry-reports/norway-electric-car-market
Furthermore, Norway parliament plans to have zero emission country by 2025. In January 2021, around 330,000 battery electric vehicles were registered, and it held 54% market share of the electric car sold in Norway. In 2017, the government of Norway implemented a 50% rule, in which government offers incentives to electric cars owners regarding access to bus lanes and free parking facility. According to this rule, municipalities cannot charge more than 50% of the price for fossil fuel cars on ferries, public parking and toll roads. Thus, the government support is growing the Norwegian electric car industry.
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Market Coverage
- Market number available for – 2018-2025
- Base year- 2018
- Forecast period- 2019-2025
- Segment Covered- By Vehicle Type, By Propulsion Technology, By Battery Type
- Region Covered- Norway
- Competitive Landscape- AB Volvo, Audi AG, BMW AG, Hyundai Motor Co., Hyundai Motor Co., Mitsubishi Motors Corp., Nissan Motor Co., Renault Group, Tesla, Inc., Volkswagen AG and others.
Key Questions Addressed by the Report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Norway Electric Car Market Report Segment
By Vehicle Type
- Hatchback
- Sedan
- SUV
By Propulsion Technology
- Battery Electric Cars
- Plug-in Hybrid Electric Car
By Battery Type
- NiMH
- Li-Ion
- Others
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