Research Overview

2020 turned out to be the much-anticipated inflection point for PHEV/BEV adoption in Europe. Car buyers here clearly warmed up to the concept of electric mobility in the wake of the COVID-19 pandemic. In 2020, new electric car registrations in Europe doubled year-over-year to reach the 10% retail market share milestone even as the overall car market in Europe registered a degrowth of 22%. Such is the popularity of this ecofriendly alternative to the traditional ICE vehicles that it is widely believed that the sales of the latter may already have peaked in Europe. Extensive research by Frost & Sullivan (F&S) has led it to think that this slow-but-sure mainstreaming of electric mobility will be accompanied by the emergence of new growth opportunities in the battery lifecycle management and vehicle charging space. With the right strategic approach, traditional aftermarket participants can seek to leverage these nascent growth opportunities through new business models that will help them gain a foothold in the evolving battery and charging value chains.

In terms of geography, the study separately discusses the erstwhile EU-5 markets of France, Germany, Italy, Spain, and the UK. The study also discusses the other major markets in a separate cluster designated as “Rest of Europe.”

The research discusses four key growth opportunities that hold the highest growth potential for prospective participants seeking early-mover advantage in these lucrative segments.