
Australia Electric Vehicle Market Report and Forecast 2025-2034
Description
The Australia electric vehicle market size reached approximately 196.40 Thousand Units in 2024. The market is assessed to grow at a CAGR of 17.60% between 2025 and 2034 to attain a volume of around 993.61 Thousand Units by 2034.
Key Trends in the Market
Electric vehicles (EVs) are automobiles propelled by one or more electric motors, utilising electrical energy stored in rechargeable batteries or another energy storage device. They differ from traditional internal combustion engine vehicles by relying solely on electricity for power instead of gasoline or diesel fuel.
These vehicles are manufactured in three different types, including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hybrid electric vehicles (HEVs). They run entirely on electricity stored in rechargeable batteries. Since they do not have an internal combustion engine, they produce zero emissions while driving. Lithium-ion batteries are the most commonly used due to their energy density and efficiency.
The EMR’s report titled “Australia Electric Vehicle Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Platform
According to the Australia electric vehicle market analysis, four-wheelers have been gradually gaining popularity. Various federal and state-level incentives, such as rebates, tax breaks, and subsidies for EV purchases, have been introduced to encourage their adoption. Efforts have been made to expand the charging infrastructure across the country, making it more feasible for people to own and use electric vehicles. More manufacturers are introducing electric models to the Australian market, providing consumers with a broader range of choices for four-wheel electric vehicles.
Meanwhile, the demand for two-wheelers, particularly motorcycles and scooters, in Australia has shown fluctuations without significant sustained growth. However, local companies such as Benzina introducing their sport electric scooters is likely to propel the development of the market.
Market Share by Propulsion
Battery electric vehicles are expected to account for a major portion of the Australia electric vehicle market share. The rising adoption of these vehicles can be attributed to the ongoing efforts to expand the charging infrastructure across cities and major highways in Australia. Increased accessibility to charging stations makes it more practical for people to own and operate BEVs.
In addition, more automakers are introducing BEV models into the Australian market, providing consumers with a wider selection of electric cars to choose from. Models like the Tesla Model 3, Nissan Leaf, Hyundai Kona Electric, and others have gained popularity.
Competitive Landscape
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Australia electric vehicle market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
BMW AG
BMW AG, headquartered in Munich, Germany, is a leading automobile manufacturers renowned for its production of luxury vehicles and motorcycles. Established in 1916, BMW has established a global presence and reputation for manufacturing high-quality automobiles under its BMW, Mini, and Rolls-Royce brands. The company's product line ranges from sedans and SUVs to electric vehicles, consistently emphasising innovation, performance, and premium design across its vehicle offerings.
Toyota Motor Corporation
Toyota Motor Corporation, headquartered in Toyota City, Japan, is one of the largest automobile manufacturers globally. Founded in 1937, Toyota has a wide-ranging product lineup encompassing vehicles across various segments, including sedans, trucks, hybrids, and electric vehicles. Renowned for its reliability, efficiency, and innovation, Toyota is recognised for its Toyota, Lexus, Daihatsu, and Hino brands. It's a pioneer in hybrid technology, with its Prius model being one of the most iconic hybrid cars globally.
Tesla Inc.
Tesla Inc., based in Palo Alto, California, is a leader in electric vehicle (EV) manufacturing and sustainable energy solutions. Founded in 2003, Tesla focuses on producing fully electric vehicles, energy storage solutions, and solar products. Tesla's innovative approach to EVs has significantly influenced the automotive sector’s transition towards electric mobility. Additionally, Tesla is involved in developing self-driving technology and aims to revolutionise transportation through its vision for autonomous vehicles.
Other Australian electric vehicle market players are Mazda Motor Corp., Hyundai Group, AUDI AG, Mercedes-Benz Group AG, Honda Motor Co., Ltd., Nissan Motor Co., Ltd., and Australian Electric Motor Co, among others.
Key Trends in the Market
Electric vehicles (EVs) are automobiles propelled by one or more electric motors, utilising electrical energy stored in rechargeable batteries or another energy storage device. They differ from traditional internal combustion engine vehicles by relying solely on electricity for power instead of gasoline or diesel fuel.
These vehicles are manufactured in three different types, including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hybrid electric vehicles (HEVs). They run entirely on electricity stored in rechargeable batteries. Since they do not have an internal combustion engine, they produce zero emissions while driving. Lithium-ion batteries are the most commonly used due to their energy density and efficiency.
- As consumer awareness about the benefits of electric vehicles grows, including their lower operational costs and reduced environmental impact, the demand for sustainable transportation options is expected to observe an upward trajectory. The Australia electric vehicle market demand is increasingly influenced by the growing preference for eco-friendly transportation over traditional internal combustion engine cars. Reportedly, the number of electric vehicles on Australian roads increased significantly, nearly doubling from 44,000 in early 2022 to surpass 83,000 by the year end.
- Australia has established its position as a crucial manufacturer of critical minerals and raw materials such as lithium, bauxite, nickel, manganese, cobalt, and graphite, among others, used in EV batteries. Moreover, the ongoing advancements in battery technology, resulting in improved range, faster charging times, and decreasing costs, are pivotal in enhancing the appeal and practicality of EVs.
- One of the significant Australian electric vehicle market trends is the introduction of government initiatives aimed at driving the transition towards a decarbonised transportation system. The Australian government intends to surge EV sales to 30% by 2030 and 100% by 2035 in new light vehicle sales.
- Other factors influencing the Australia electric vehicle market growth include the increasing affordability of EVs, growing concerns regarding climate change, the surging availability of different models and brands of EVs, and the rising access to charging stations.
The EMR’s report titled “Australia Electric Vehicle Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Platform
- Two-Wheeler
- Three-Wheeler
- Four-Wheeler
- Battery Electric Vehicles
- Hybrid Electric Vehicles
- Fuel Cell Electric Vehicles
- Plug-in Hybrid Electric Vehicles
- Low-priced
- Mid-priced
- Luxury
- Passenger Cars
- Commercial Vehicles
According to the Australia electric vehicle market analysis, four-wheelers have been gradually gaining popularity. Various federal and state-level incentives, such as rebates, tax breaks, and subsidies for EV purchases, have been introduced to encourage their adoption. Efforts have been made to expand the charging infrastructure across the country, making it more feasible for people to own and use electric vehicles. More manufacturers are introducing electric models to the Australian market, providing consumers with a broader range of choices for four-wheel electric vehicles.
Meanwhile, the demand for two-wheelers, particularly motorcycles and scooters, in Australia has shown fluctuations without significant sustained growth. However, local companies such as Benzina introducing their sport electric scooters is likely to propel the development of the market.
Market Share by Propulsion
Battery electric vehicles are expected to account for a major portion of the Australia electric vehicle market share. The rising adoption of these vehicles can be attributed to the ongoing efforts to expand the charging infrastructure across cities and major highways in Australia. Increased accessibility to charging stations makes it more practical for people to own and operate BEVs.
In addition, more automakers are introducing BEV models into the Australian market, providing consumers with a wider selection of electric cars to choose from. Models like the Tesla Model 3, Nissan Leaf, Hyundai Kona Electric, and others have gained popularity.
Competitive Landscape
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Australia electric vehicle market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
BMW AG
BMW AG, headquartered in Munich, Germany, is a leading automobile manufacturers renowned for its production of luxury vehicles and motorcycles. Established in 1916, BMW has established a global presence and reputation for manufacturing high-quality automobiles under its BMW, Mini, and Rolls-Royce brands. The company's product line ranges from sedans and SUVs to electric vehicles, consistently emphasising innovation, performance, and premium design across its vehicle offerings.
Toyota Motor Corporation
Toyota Motor Corporation, headquartered in Toyota City, Japan, is one of the largest automobile manufacturers globally. Founded in 1937, Toyota has a wide-ranging product lineup encompassing vehicles across various segments, including sedans, trucks, hybrids, and electric vehicles. Renowned for its reliability, efficiency, and innovation, Toyota is recognised for its Toyota, Lexus, Daihatsu, and Hino brands. It's a pioneer in hybrid technology, with its Prius model being one of the most iconic hybrid cars globally.
Tesla Inc.
Tesla Inc., based in Palo Alto, California, is a leader in electric vehicle (EV) manufacturing and sustainable energy solutions. Founded in 2003, Tesla focuses on producing fully electric vehicles, energy storage solutions, and solar products. Tesla's innovative approach to EVs has significantly influenced the automotive sector’s transition towards electric mobility. Additionally, Tesla is involved in developing self-driving technology and aims to revolutionise transportation through its vision for autonomous vehicles.
Other Australian electric vehicle market players are Mazda Motor Corp., Hyundai Group, AUDI AG, Mercedes-Benz Group AG, Honda Motor Co., Ltd., Nissan Motor Co., Ltd., and Australian Electric Motor Co, among others.
Table of Contents
125 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Asia Pacific Electric Vehicle Market Overview
- 5.1 Key Industry Highlights
- 5.2 Asia Pacific Electric Vehicle Historical Market (2018-2024)
- 5.3 Asia Pacific Electric Vehicle Market Forecast (2025-2034)
- 5.4 Asia Pacific Electric Vehicle Market Share by Region
- 5.4.1 China
- 5.4.2 Japan
- 5.4.3 India
- 5.4.4 ASEAN
- 5.4.5 Australia
- 5.4.6 Others
- 6 Australia Electric Vehicle Market Overview
- 6.1 Key Industry Highlights
- 6.2 Australia Electric Vehicle Historical Market (2018-2024)
- 6.3 Australia Electric Vehicle Market Forecast (2025-2034)
- 7 Australia Electric Vehicle Market by Platform
- 7.1 Two-Wheeler
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Three-Wheeler
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 Four-Wheeler
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 8 Australia Electric Vehicle Market by Propulsion Type
- 8.1 Battery Electric Vehicles
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Hybrid Electric Vehicles
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 Fuel Cell Electric Vehicles
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 8.4 Plug-in Hybrid Electric Vehicles
- 8.4.1 Historical Trend (2018-2024)
- 8.4.2 Forecast Trend (2025-2034)
- 9 Australia Electric Vehicle Market by Price Range
- 9.1 Low-priced
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Mid-priced
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 Luxury
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 10 Australia Electric Vehicle Market by Vehicle Type
- 10.1 Passenger Cars
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 Commercial Vehicles
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 11 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators for Demand
- 11.4 Key Indicators for Price
- 12 Competitive Landscape
- 12.1 Supplier Selection
- 12.2 Key Global Players
- 12.3 Key Regional Players
- 12.4 Key Player Strategies
- 12.5 Company Profiles
- 12.5.1 BMW AG
- 12.5.1.1 Company Overview
- 12.5.1.2 Product Portfolio
- 12.5.1.3 Demographic Reach and Achievements
- 12.5.1.4 Certifications
- 12.5.2 Toyota Motor Corporation
- 12.5.2.1 Company Overview
- 12.5.2.2 Product Portfolio
- 12.5.2.3 Demographic Reach and Achievements
- 12.5.2.4 Certifications
- 12.5.3 Tesla Inc.
- 12.5.3.1 Company Overview
- 12.5.3.2 Product Portfolio
- 12.5.3.3 Demographic Reach and Achievements
- 12.5.3.4 Certifications
- 12.5.4 Mazda Motor Corp.
- 12.5.4.1 Company Overview
- 12.5.4.2 Product Portfolio
- 12.5.4.3 Demographic Reach and Achievements
- 12.5.4.4 Certifications
- 12.5.5 Hyundai Group
- 12.5.5.1 Company Overview
- 12.5.5.2 Product Portfolio
- 12.5.5.3 Demographic Reach and Achievements
- 12.5.5.4 Certifications
- 12.5.6 AUDI AG
- 12.5.6.1 Company Overview
- 12.5.6.2 Product Portfolio
- 12.5.6.3 Demographic Reach and Achievements
- 12.5.6.4 Certifications
- 12.5.7 Mercedes-Benz Group AG
- 12.5.7.1 Company Overview
- 12.5.7.2 Product Portfolio
- 12.5.7.3 Demographic Reach and Achievements
- 12.5.7.4 Certifications
- 12.5.8 Honda Motor Co., Ltd.
- 12.5.8.1 Company Overview
- 12.5.8.2 Product Portfolio
- 12.5.8.3 Demographic Reach and Achievements
- 12.5.8.4 Certifications
- 12.5.9 Nissan Motor Co., Ltd.
- 12.5.9.1 Company Overview
- 12.5.9.2 Product Portfolio
- 12.5.9.3 Demographic Reach and Achievements
- 12.5.9.4 Certifications
- 12.5.10 Australian Electric Motor Co
- 12.5.10.1 Company Overview
- 12.5.10.2 Product Portfolio
- 12.5.10.3 Demographic Reach and Achievements
- 12.5.10.4 Certifications
- 12.5.11 Others
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