Canada Electric Vehicle Market top Key Players – Tesla, GM, Hyundai, Kia, Ford,, Green Power, Lion Electric, New Flyer, Nova Bus
Canada’s electric vehicle market is estimated at £xx Billion in 2020. The Canadian EV battery market alone is estimated at £XX Billion. Canada is one of the regions with the highest average price of vehicles sold.
With 1.6 Million vehicles sold every year, they can handle fast electrification mainly along the Southern Provinces where 95.4% of the electric vehicles are sold currently.
In 2020, Toyota Prius PHEV, Tesla Model 3, and Hyundai Ioniq were the top selling EVs in Canada. Chevrolet Bolt EV, Volkswagen ID4, Nissan Ariya and Ford Mustang Mach E are some of the upcoming vehicles in 2021 for the Canadian Market. In 2020, due to Covid, there was an overall decrease of 1,800 vehicles compared to 2019 in electric vehicle sales in Canada.
HEVs however grew in sales in 2020 compared to 2019.
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CANADA ELECTRIC VEHICLE MARKET DYNAMICS
Canada has diverse weather conditions across the country mainly due to the size of the country. Canada currently has a £600 Million investment under Zero-Emission Vehicle Awareness Initiative. This will include coast to coast fast charging setups, along with subsidies upto £5000 for electric vehicle purchases as well as regular charging stations at destination spots.
Canada has a progressive rate for EVs sales with 10% by 2025, 30% by 2030 and 100% by 2040; currently they are at 3.5%. CANADA ELECTRIC BUS MARKET
Canada is investing £2.75 Billion from 2021-2026 for electrification of public transport. This is included in the £15 Billion investment in place for electrification of transport and decreasing emissions.
There is an added £1.5 Billion on top of that by Canada Infrastructure Bank to develop charging infrastructure for the buses. CANADA ELECTRIC VEHICLE MARKET SEGMENTATION By OEM
o Other OEMs By Components
o Traction Motor
o Power electronics(OBC, DC-DC Conerter, Inverter, Motor controller) By Vehicle Type
o Passanger Car
o Light Commercial Vehicles
By EV Type
o FCEV COMPETITIVE LANDSCAPE
In 2020, 39,000 BEVs were sold and 15,000 PHEVs were sold. Tesla held the pole position followed by Hyundai, Toyota and Nissan.
The market will be influenced by the new launches in the USA over the next 3 years as well as improving infrastructure for EVs. The OEM to beat will be Tesla but the market share of Tesla will decrease in 2026 compared to 2021. COMPANY PROFILES
ELECTRIC CAR MANUFACTURERS
ELECTRIC BUS MANUFACTURERS
Nova Bus Information: https://mobilityforesights.com/product/canada-electric-vehicle-market/ Contact:
Company Name: Mobility Foresights
Contact Person: Kunal Roy
Email: Send Email
Address: P3&P4, HAL 3rd Stage
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