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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Europe Electric Micro Vehicles Market Size
The Europe electric micro vehicles market reached a value of about USD 943.8 million in 2021. The market is further expected to grow at a CAGR of 35.70% between 2024 and 2032.
Europe Electric Micro Vehicles Market Report Snapshots
Europe Electric Micro Vehicles Market Size
Europe Electric Micro Vehicles Market Analysis
Europe Electric Micro Vehicles Market Growth
Europe Electric Micro Vehicles Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2021, the market attained a value of nearly USD 943.8 million.
The market is being aided by the rising car sales, the growing trend of sustainability, and the increasing demand for innovative urban mobility solutions.
Technological advancements and innovations, the cost-effectiveness of electric micro vehicles, and the introduction of various government policies promoting EV sales are expected to aid the market.
The major regions in the market are Germany, France, Spain, Belgium, the United Kingdom, Switzerland, the Netherlands, Turkey, and Italy, among others.
The Europe electric micro vehicles market is estimated to grow at a CAGR of 35.70% between 2024 and 2032.
A battery of an electric micro vehicle undergoes a discharge cycle, due to which its range decreases. Hence, batteries of electric micro vehicles usually last between 10 to 20 years.
As electric micro vehicles are compact, they offer parking benefits and are ideal for urban mobility. They are easy to drive, affordable, and feature zero-emission motoring. In addition, electric micro vehicles are comfortable and protective and offer smooth and easy drive.
The major types of electric micro vehicles are cruiser and touring.
While plug-in hybrid electric vehicles use batteries charged with electricity and internal combustion engines, battery electric vehicles are fully powered by electricity. Moreover, battery electric vehicles are more efficient than plug-in hybrid vehicles and hybrid electric vehicles.
The significant end uses of electric micro vehicles are goods carrier and passenger carrier.
Electric micro vehicles are categorised as quadricycle in Europe, due to which driving such vehicles do not require driver’s license. Moreover, electric micro vehicles like Citroen’s Ami are accessible from 16 years age in various European countries and from 14 years in France.
The major players in the market include Renault Group, Citroën, TAZZARI EV, Micro Mobility System AG, smart Europe GmbH, Space Options Limited (Siticars.com) and Others.
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