Electric vehicles can play an important part in this evolving EV market, as Canada has highlighted them as a critical contributor to meeting our transportation sector greenhouse gas emissions reduction target of 12 megatonnes of CO2 by 2030. However, success will necessitate a collaborative ecosystem of participants. In 2019, more than 25 million light-duty vehicles were registered in Canada. EVs now account for a minor fraction of the market, with 168,000 vehicles sold. This is going to have to alter immediately. Canada aims to reduce emissions from light-duty vehicles by seven megatonnes by 2030, out of a total of 12 megatonnes. This will entail the replacement of 1.8 million internal combustion engines, or roughly 7% of the fleet of vehicles.
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Canada Electric Car Market Overview:
Extensive Canada Electric Car market analysis is carried out by attentively monitoring important product positioning and the market framework’s top competitors. Key competitors are profiled and their tactics are extensively examined to grasp the competitive perspective of the Canada Electric Car market.
Canada Electric Car Market reached was volume at 26700 thousand units. in 2020. Canada Electric Car Market size is estimated to grow at a CAGR of 20.2 %. The market is expected to reach a volume of 95670.93 thousand units in 2027.
Canada Electric Car Market Scope:
This research on the Canada Electric Car industry is based on a thorough examination of the market, supported by secondary and primary sources. Market volume is determined by a country-by-country model mapping of Canada Electric Car utilizing internal and external private information, as well as relevant patent and regulatory sources.
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Canada Electric Car Market Segmentation:
Based on Type, the market is sub-segmented into BEV, PHEV and HEV. The Hybrid electric vehicle segment was leading the market in 2020. In Canada, hybrids are significantly more widespread than plug-in hybrids and fully electric vehicles. In 2019, 685 hybrids and 20 plug-in hybrids were sold in Canada, Hybrids’ popularity is unsurprising: their ability to combine electricity and gasoline combustion eliminates the need for Canadian restricted charging outlets. They’re also less expensive.
Canada Electric Car Market Key Players:
• BMW
• Renault
• Chevrolet
• Tesla
• Hyundai
• Jaguar I-Pace
• Mercedes-Benz
• Audi
• Kia
• Nissan Motor Corporation
• Polestar
• Rivian
• Lucid Motors
• Byton
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A team of research professionals updates and amends our data regularly to reflect the most recent trends and facts. To fulfill the needs of both individual and corporate clients, we have substantial competence in research and consulting for a wide range of business disciplines. Our knowledgeable staff uses proprietary data sources as well as a range of additional approaches. The key players in the Canada Electric Car business are…
Regional Analysis:
The study presents regional competitive circumstances. These insights help market participants improve their approaches and provide new opportunities to achieve amazing results.
COVID-19 Impact Analysis on Canada Electric Car Market:
The spread of the COVID-19 pandemic has had a wide-ranging influence on people’s lives all around the world. Markets have been forced to adopt new norms, trends, and tactics as a result. Essentially, the study report tries to paint a picture of the market’s initial and future projections.
Key Questions Answered in the Canada Electric Car Market Report are:
What will be the CAGR of the Canada Electric Car market during the forecast period?
Which segment emerged as the leading segment in the Canada Electric Car market?
Which are the prominent players in the Canada Electric Car market?
What will be the Canada Electric Car market size by 2027?
Which company held the largest share in the Canada Electric Car market?
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