G8 Countries Hybrid and Electric Cars Market Summary, Competitive Analysis and Forecast to 2026
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The G8 countries contributed $190.03 billion in 2021 to the global hybrid & electric cars industry. The G8 countries are expected to grow at a CAGR of more than 15% over the forecast period. The Group of Eight (G8) comprises eight of the fastest-growing industrial nations in the world, this includes the US, Canada, Germany, France, the UK, Italy, Russia, and Japan. The G8 hybrid & electric cars market research report provides top-line qualitative and quantitative summary information including market size and forecast. The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
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Leading Nation in the G8 Countries Hybrid and Electric Cars Market in Terms of Revenue
The US is leading the G8 hybrid & electric cars market, followed by Germany and Japan.
US
In the United States, the share of hybrid and electric car sales has grown owing to the significant increase in the sale of plug-in hybrids and mild hybrids, indicative of a weaker sentiment of some consumers towards fully electric cars amid range anxiety.
France
Hybrid and electric car adoption has been strongly increasing in recent years thanks to their increasing affordability, the growing availability of new offerings with improved range capacities, and the continuous expansion of charging infrastructure. Thus, the market is set to follow a double-digit growth during the forecast period.
Germany
Hybrid and electric car adoption has been strongly increasing in recent years thanks to their increasing affordability, the growing availability of new offerings with improved range capacities, and the continuous expansion of charging infrastructure.
Italy
The Italian market saw decelerated sales growth in 2021 compared to 2020. Although consumer confidence improved during 2021, as the COVID-19 pandemic had receded, pent-up demand was exhausted during the second half of 2020. Moreover, the COVID-19 pandemic exacerbated the already strenuous supply conditions in the semiconductor industry, on which the automotive industry and particularly electric cars are reliant for crucial input parts.
Canada
The market is set to follow a double-digit growth during the forecast period as the adoption of hybrid and electric cars will continue to increase, driven by increasing affordability and a greater number of offerings, also facilitated by government incentives and expanding infrastructure.
Russia
The sales of hybrid and electric cars will continue to grow strongly over the coming years given that the market is set to expand both in demand and supply terms.
UK
In the United Kingdom, the share of hybrid and electric car sales has grown, according to in-house research, indicating a relatively adoption rate compared to other markets. Electric cars (BEVs (Battery Electric Vehicles)) continued to drive sales for the whole market, fueled by both supply and demand factors.
Japan
Purchase prices have been the most crucial factor for the adoption of hybrid and electric cars; government incentives along with significant cost reductions made through advances in battery technology have brought down prices.
Leading Nation in the G8 Countries Hybrid and Electric Cars Market, by Revenue
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Key Company Profiles
There are many companies in the G8 countries hybrid and electric cars such as Tesla, Inc., General Motors Company, Toyota Motor Corporation, Renault SA, Stellantis NV, Daimler AG, Nissan Motor Co., Ltd., Mitsubishi Motors Corporation, Bayerische Motoren Werke AG, Volkswagen AG, Hyundai Corporation, and Ford Motor Company.
Ford Motor Company
Ford Motor Company (Ford or ‘the company’) is an automotive manufacturer in the world. The company is headquartered in Dearborn, Michigan, the US.
General Motors Company
General Motors Company (GM or ‘the company’) is engaged in the design, development, production, and marketing of cars, trucks, and automobile parts. The company is headquartered in Detroit, Michigan, US.
Volkswagen AG
Volkswagen AG (Volkswagen or ‘the group’) is an automobile manufacturer and car manufacturer in Europe. The company is headquartered in Wolfsburg, Germany.
Toyota Motor Corporation
Toyota Motor Corporation (Toyota or ‘the company’) is a manufacturer and seller of motor vehicles. The company is headquartered in Toyota City, Aichi, Japan.
Renault SA
Renault SA (Renault or ‘the company’) is one of the leading European automobile manufacturers. The company is headquartered in Boulogne-Billancourt, Ile-de-France, France.
G8 Countries Hybrid and Electric Cars Market Overview
Market Size 2021 | $190.03 billion |
CAGR % (2021-2026) | >15% |
Key Emerging Countries | The US, Canada, Germany, France, The UK, Italy, Russia, and Japan |
Leading country | The US |
Key Companies | Tesla, Inc., General Motors Company, Toyota Motor Corporation, Renault SA, Stellantis NV, Daimler AG, Nissan Motor Co., Ltd., Mitsubishi Motors Corporation, Bayerische Motoren Werke AG, Volkswagen AG, Hyundai Corporation, and Ford Motor Company |
Scope
- Save time carrying out entry-level research by identifying the size, growth, and leading players in the countries hybrid and electric cars market
- Use the five forces analysis to determine the competitive intensity and therefore attractiveness of the G8 countries hybrid and electric cars market
- Leading company profiles reveal details of key G8 countries hybrid and electric cars market players’ emerging five operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the emerging five G8 countries hybrid and electric cars market with five-year forecasts by both value and volume
- Compares data from Brazil, China, India, Mexico, and South Africa, alongside individual chapters on each country
Reasons to Buy
- What was the size of the emerging five G8 countries hybrid and electric cars market by value in 2021?
- What will be the size of the emerging five G8 countries hybrid and electric cars market in 2026?
- What factors are affecting the strength of competition in the emerging five G8 countries hybrid and electric cars industry?
- How has the industry performed over the last five years?
- Who are the top competitors in the emerging five G8 countries hybrid and electric cars market?
General Motors Company
Toyota Motor Corporation
Renault SA
Stellantis NV
Daimler AG
Nissan Motor Co., Ltd.
Mitsubishi Motors Corporation
Bayerische Motoren Werke AG
Volkswagen AG
Hyundai Corporation
Ford Motor Company
Table of Contents
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Frequently asked questions
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How much G8 countries hybrid and electric cars market contributed in 2021?
The G8 countries contributed $190.03 billion to the global hybrid and electric cars industry in 2021.
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What is the growth rate of the G8 countries hybrid and electric cars market?
The countries are expected to accelerate at a CAGR of more than 15% over the forecast period.
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Which countries are included in the G8 countries hybrid and electric cars market?
The US, Canada, Germany, France, the UK, Italy, Russia, and Japan are included in the G8 countries hybrid and electric cars market.
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Which country will be leading the G8 countries hybrid and electric cars market in terms of revenue?
The US will be leading the G8 countries hybrid and electric cars market in terms of revenue.
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What are the key companies in the G8 countries hybrid and electric cars market?
There are many companies in the G8 countries hybrid and electric cars market such as Tesla, Inc., General Motors Company, Toyota Motor Corporation, Renault SA, Stellantis NV, Daimler AG, Nissan Motor Co., Ltd., Mitsubishi Motors Corporation, Bayerische Motoren Werke AG, Volkswagen AG, Hyundai Corporation, and Ford Motor Company.
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