Turkey electric vehicle market is expected
to register robust growth in the forecast period, 2023-2027. Electric mobility
is the emerging trend and transportation sector is developing across the globe.
It is one of the advanced innovations that has changed the future of the
country in terms of comfort, emission, noise, power, etc. The expanding transportation market has the
immense potential to attract the customer locally. The investment of the
foreign company and joint venture has a tremendous scope in future for overall
electric vehicle manufacture which propels the market growth. The government
authorities of Turkey and numerous companies are signing MoU with China based
companies for battery technology, motor technology, etc. to launch the vehicle
in the starting phase. Continuous technological advancements, proactive
government initiatives and development of self-driving electric vehicle
technology are some of the factors offering lucrative opportunities to the key
players operating in the electric vehicle market.
Reducing Cost of
Batteries is Projected to Boost the Growth of the Electric Vehicle Market
Battery based electric
vehicles majorly include autonomous delivery vehicles, industrial vehicles, and
public transport vehicles. It has the capacity to determine the cost of an
electric vehicle battery in kilowatt-hours (kWh), which dictates its range and
the power level of the motor that it supplies. Several breakthroughs in
technology have brought down the cost of EVs. The manufacturers of EV battery
are focusing on providing high-capacity batteries and minimizing battery prices
to ensure the overall cost of a vehicle falls under the subsidized range.
Numerous government regulations to phase out fossil fuel-powered vehicles, the
growing concerns raised over conventional vehicles' environmental impact,
enhancement in battery capacity, and supporting government policies and
regulations are supporting the market growth.
Rise in Need for
Fuel-Efficient, High-Performance, And Low-Emission Vehicles Propels the Market
Growth
Gasoline being a fossil
fuel is not a source of renewable energy which is going to get exhausted in the
future. To promote sustainable development, it is essential to develop and use
alternative sources of fuel. This further involves usage of electric vehicles,
which do not utilize gas and are more economical than conventional vehicles. An
electric vehicle converts over 50% of the electrical energy from the grid to
power at the wheels, whereas the gas-powered vehicle only manages to convert
about 17%–21% of the energy stored in gasoline. The escalating demand for
fuel-efficient vehicles on account of the increase in price of petrol and
diesel drive the market growth. This is also due to depleting fossil fuel
reserves and growth in tendency of companies to gain maximum profit from these
oil reserves. Therefore, these factors inflate the need for advanced
fuel-efficient technologies, which escalates the demand for electrically
powered vehicles for travel which further promotes the market growth.
Several Rules and
Regulations by Government Bodies Towards the Vehicle Emissions Support the
Market Growth
With the growing
environmental concerns, government and environmental agencies across the Turkey
are enacting stringent emission norms and laws to minimize the emissions of
vehicle. Various regulatory measures are strict emissions targets for the
reduction of nitrogen oxides (NOx) and carbon dioxide (CO2) in air. The high amounts of greenhouse gases being
emitted from vehicles and federal and state governments across U.S. are
stepping up efforts to make transportation cleaner. Government authorities
across the Turkey are extensively investing in electric mobility. The rising
government regulations to phase out fossil fuel-powered vehicles, government
investments for enhancing public EV charging infrastructure, and several
initiatives in the form of subsidies & tax rebates for adopting EVs are
projected to support this market growth. Government authorities are investing
in charging infrastructures either through direct investments for public
charging stations or by offering subsidies for private charging stations at
homes and workplaces.
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Market Segmentation
The Turkey electric vehicle market is segmented into vehicle type, propulsion, range, battery
capacity, regional distribution, and competitive landscape. Based on
vehicle type, the market is divided into two-wheeler, passenger car, LCV, and
M&HCV. Based on propulsion, the market is divided into BEV, PHEV, FCEV. Based
on range, the market is segmented into 0-50 Miles, 51-150 Miles, 151-200 Miles,
201-400 Miles, above 400 Miles. Based on battery capacity, the market is
segmented into <50 kWh, 51–100 kWh, 101–200 kWh, 201-300 kWh, above 300 kWh.
The Turkey electric vehicle market is studied in major regions namely Marmara,
Central Anatolia, Mediterranean, Aegean, Southeastern Anatolia, Blacksea,
Eastern Anatolia.
Turkey's Automobile Joint Venture Group Inc., Ford Motor
Company, Tesla Inc., Toyota Motor Corporation, Groupe Renault, Fiat Automobiles
S.p.A. are the key market players operating in Turkey electric vehicle market.
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Attribute
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Details
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Base Year
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2021
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Historic Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, and CAGR for 2017-2021
and 2022-2027
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Report coverage
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Revenue forecast, company share, competitive landscape, growth
factors, and trends
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Segments covered
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·
Vehicle Type
·
Propulsion
·
Range
·
Battery
Capacity
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Regional scope
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Marmara, Central Anatolia, Mediterranean,
Aegean, Southeastern Anatolia, Blacksea, Eastern Anatolia
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Key companies profiled
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Turkey's Automobile Joint Venture Group Inc., Ford Motor
Company, Tesla Inc., Toyota Motor Corporation, Groupe Renault, Fiat
Automobiles S.p.A.
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Customization scope
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10% free report customization with purchase. Addition or
alteration to regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet
your exact research needs. Explore purchase
options
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Delivery Format
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PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
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Report Scope:
In this report, Turkey electric vehicle market has been segmented into following categories, in addition to
the industry trends which have also been detailed below:
·
Turkey Electric Vehicle
Market, By Vehicle Type:
o Two-Wheeler
o Passenger Car
o LCV
o M&HCV
·
Turkey Electric Vehicle
Market, By Propulsion:
o BEV
o PHEV
o FCEV
·
Turkey Electric Vehicle
Market, By Range:
o 0-50 Miles
o 51-150 Miles
o 151-200 Miles
o 201-400 Miles
o Above 400 Miles
·
Turkey Electric Vehicle
Market, By Battery Capacity:
o <50 kWh
o 51–100 kWh
o 101–200 kWh
o 201-300 kWh
o Above 300 kWh
·
Turkey Electric Vehicle
Market, By Region:
o
Marmara
o
Central
Anatolia
o
Mediterranean
o
Aegean
o
Southeastern
Anatolia
o
Blacksea
o
Eastern
Anatolia
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Turkey electric vehicle market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
o Detailed analysis and profiling of
additional market players (up to five).
Turkey electric vehicle market is an upcoming
report to be released soon. If you wish an early delivery of this report or
want to confirm the date of release, please contact us at [email protected]