Norway Electric Vehicle Market Strategic Analysis 2020: The Benchmark for EV Adoption - Norway is the World Leader in Terms of EV Adoption and Sales Penetration

Dublin, Jan. 19, 2021 (GLOBE NEWSWIRE) -- The "Strategic Analysis of the Electric Vehicle Market in Norway" report has been added to's offering.

Norway is the world leader in terms of EV adoption and sales penetration. 2019 was another big year, with nearly 13% YoY growth and 71% new PC sales penetration. EV sales in Norway crossed the 100K mark for the first time, getting closer to 100% penetration. The success of EVs is being driven by strong incentivization, which makes EVs more economical than ICE vehicles and a vast charging network.

The automotive industry is rapidly evolving in terms of technology and tackling environmental issues. Electric vehicles (EVs) have been introduced as a clean energy initiative as they have low or zero emissions and are becoming an integral part of the OEMs' business strategies. Automakers are creating separate EV business units to prepare for the expected EV boom in the future. However, the surge in EV demand will create a huge need for charging infrastructure and safety regulations and standards.

The EV market in Norway is highly advanced; in fact, the Government and regional administrative bodies have to contend with the backlash against the aggressive incentives affecting revenue streams due to high EV adoption rates. However, the incumbent Government remains resolute as EV incentives are a strong political stimulus.

2019 also saw the launch of the Tesla Model 3, which provided a boost to the already thriving BEV market. Norway has a surplus demand for EVs and imports secondhand EVs from neighboring countries. The used EV market represents almost 15% of the xEV car parc.

The charging infrastructure is well established and Norway is now looking to upgrade to faster charging and newer standards. The study provides a detailed analysis of the EV market scenario with charts based on annual sales (2019) and historical sales. PEVs and HEVs have separate sections.

Research Highlights

  • Historical annual sales, monthly sales for 2019, market penetration, and YoY growth from 2010 to 2019
  • Market share by xEV type and sales share of each xEV type for the top 5 highest-selling OEMs since 2010
  • Top 10 models for 2019 as well as historical for PEVs and HEVs and sales forecast for PEVs
  • Charging station infrastructure data like the number of charge points, key service providers, and services offered, etc.
  • Detailed regional incentives, regional scenario, and future outlook. The report includes key findings, conclusions, observations, forecast for PEVs, and growth opportunities

Key Issues Addressed

  • How has the EV market progressed since 2010?
  • What is the most popular EV type, vehicle model, OEM, and vehicle segment YoY and cumulatively?
  • What are the market shares for PHEVs, BEVs, FHEVs, and MHEVs, and how have their growth trends been since 2010?
  • Which are the fastest-growing OEMs and which models have disrupted sales trends or exposed demand in the market?
  • Who are the key players in the charging infrastructure industry, what services/products they offer?
  • What are the growth opportunities in the current market scenario?

Key Topics Covered:

Executive Summary

  • Key Findings
  • Historical PEV and HEV Sales
  • Historical Cumulative Sales by xEV Type
  • Historical Cumulative PEV Sales - Top Models
  • Historical Cumulative HEV Sales - Top Models
  • 2019 EV Market Snapshot
  • Market Share by xEV Type
  • Public Charging Points Infrastructure Development

Research Scope, Objectives, and Methodology

  • Research Scope
  • Research Aims and Objectives
  • Key Questions This Study Will Answer
  • Research Methodology
  • Segmentation - Electric Propulsion Technology

PEV Market Scenario

  • PEV Sales and Market Penetration
  • Historical BEV vs PHEV Sales
  • PEV Sales - Top 10 (BEVs and PHEVs), 2019
  • Top 5 PEV Models - 2018 vs 2019
  • PEV Monthly Sales
  • Historical Cumulative PEV Sales - Top Models
  • Historical Cumulative PEV Sales - Top 5 OEMs
  • Frost Forecast: PEVs
  • PEV Sales Forecast Analysis

HEV Market Scenario

  • HEV Sales and Market Penetration
  • Historical FHEV vs MHEV Sales
  • HEV Sales - Top 10 (FHEVs and MHEVs), 2019
  • HEV Monthly Sales
  • Historical Cumulative HEV Sales - Top Models
  • Historic Cumulative HEV Sales - Top 5 OEMs

Charging Infrastructure and Technology Developments

  • Public Charging Points Infrastructure Development
  • Key Charging Station Network Providers in Norway
  • Key Developments in Charging Infrastructure and Technology

Government Incentives and Regional Scenario

  • Regional Scenario and Future Outlook
  • EV Incentives
  • EV Incentives Criticisms

Growth Opportunities and Companies to Action

  • Strategic Imperatives - 4 Critical Success Factors

Key Conclusions


Companies Mentioned

  • Tesla

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