Spain Electric Vehicle Market Research Report, 2030

Spain's electric vehicle (EV) sector has been on a consistent rise in recent years, spurred by a mix of governmental incentives, ecological policies, and heightened consumer consciousness regarding sustainable transport. The transition towards electric mobility in Spain is a component of the nation’s greater plan to decrease greenhouse gas emissions and enhance air quality. The origins of electric vehicles in Spain can be linked to the early 2010s when the government commenced implementing initiatives to encourage the adoption of EVs. Initial efforts comprised subsidies and incentives for consumers to acquire electric vehicles, aimed at mitigating the higher upfront expenses associated with EVs. The Plan Mavele, initiated in 2010, represented one of the first governmental strategies intended to encourage the purchase of electric cars via financial incentives. This was succeeded by the Plan Moves in 2020, which continued to advocate for electric vehicle uptake with additional financial resources for buying EVs and establishing charging infrastructure. Throughout the 2010s, Spain's EV market began to gather pace, with prominent international automakers such as Nissan, Renault, and BMW introducing electric models specifically designed for Spanish consumers. In spite of early obstacles like inadequate charging infrastructure and consumer hesitance, Spain’s EV market expanded notably, particularly in urban areas like Madrid and Barcelona, where concerns over air pollution and governmental regulations significantly contributed to adoption. Lately, Spain's electric vehicle sector has witnessed a robust upward trend, propelled by an increasing consumer appetite for greener vehicles and the enhancement of the country’s charging network. In 2020, the Spanish government rolled out additional subsidies for electric vehicles as part of its Recovery, Transformation, and Resilience Plan, which sought to boost EV adoption in alignment with a broader green economic recovery. By 2023, Spain emerged as one of the fastest-expanding EV markets in Europe. The emergence of EV models from leading brands, alongside advancements in battery technology and the growth of charging infrastructure. According to the research report, "Spain electric vehicle Market Research Report, 2030," published by Actual Market Research, the Spain electric vehicle Market is anticipated to add to more than USD 36.01 Billion by 2025–30. Spain's electric vehicle (EV) market has seen significant expansion in recent years, propelled by multiple essential factors. Nevertheless, akin to other nations, it also encounters specific challenges and uncertainties that influence its growth. Spain’s administration has established various initiatives to foster EV adoption. Programs such as the Plan Moves provide considerable subsidies for buying electric vehicles and setting up charging infrastructure. Furthermore, Spain’s determination to achieve carbon neutrality by 2050 has catalysed investments in EV-related technologies. Spain, mainly its key cities like Madrid and Barcelona, grapples with notable air quality challenges. Stricter emission regulations and governmental initiatives to alleviate urban pollution have prompted consumers to explore electric mobility as a substitute for conventional fossil-fuel-powered vehicles. The growth of charging networks throughout the country, particularly in urban centres, has made EVs more practical for everyday use. Networks are actively striving to set up fast-charging stations, lessening range anxiety for EV users. With more affordable and accessible electric models entering the Spanish marketplace, EV adoption has picked up speed. Spain gains from EU financing for green initiatives. The Next Generation EU recovery fund supplies Spain with resources to further invest in sustainable transportation solutions, enhancing the attractiveness of EV adoption. Ongoing improvements in battery technology and extended driving ranges present opportunities for EVs to become a more viable choice for a broader segment of the population. In spite of government subsidies, the initial purchase price of EVs remains substantial, which may dissuade some consumers. Although charging infrastructure is advancing, the comprehensive availability of fast-charging stations continues to be a concern, especially in rural regions. The COVID-19 pandemic caused temporary disruptions in manufacturing and sales. However, as part of Spain’s post-pandemic recovery agenda, the focus on green technologies has ignited a revival in EV market expansion, with enhanced subsidies and support for the EV sector. Automakers in Spain have been vigorously promoting EVs through marketing campaigns and utilizing eco-friendly branding.

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Spain's electric vehicle (EV) market is varied, with multiple propulsion technologies facilitating the shift to cleaner transportation. These consist of Battery Electric Vehicles (BEVs), Fuel Cell Electric Vehicles (FCEVs), Plug-in Hybrid Electric Vehicles (PHEVs), and Hybrid Electric Vehicles (HEVs). Each propulsion type possesses distinct traits that cater to various consumer preferences and needs. Battery Electric Vehicles (BEVs) represent the most favoured propulsion type in Spain, forming the foundation of the country's commitment to electrification. BEVs are entirely electric, utilizing a battery pack to drive an electric motor. They emit no tailpipe pollutants, making them an appealing option for environmentally aware consumers. BEVs also enjoy substantial government support, and Spain has experienced an influx of several affordable BEV models from both local and global manufacturers. BEVs are suited for consumers desiring zero-emission travel, and the expanding network of fast-charging stations in Spain enhances their practicality for everyday use. Fuel Cell Electric Vehicles (FCEVs) are not as prevalent in Spain, yet they offer an alternative to BEVs. FCEVs utilize hydrogen to produce electricity via a fuel cell, which powers the vehicle’s motor. Although Spain has been slower to embrace FCEVs relative to other EV variants, efforts to enhance hydrogen infrastructure are gaining traction. The Spanish government has implemented plans to back the establishment of hydrogen refuelling stations. FCEVs benefit from quicker refuelling durations in comparison to BEVs, though their market presence remains constrained due to infrastructure hurdles. Plug-in Hybrid Electric Vehicles (PHEVs) merge a conventional internal combustion engine with an electric motor and a rechargeable battery. In Spain, PHEVs provide a dual propulsion system, enabling drivers to utilize electric power for short travels and rely on gasoline for extended trips. Well-liked models such as the BMW 330e and Mitsubishi Outlander PHEV have garnered popularity in Spain owing to their versatility, which allows for a smooth shift to electric driving without concerns about range anxiety. Spain's electric vehicle (EV) market is marked by an increasing variety of vehicle categories, with each presenting unique benefit according to consumer preferences. The market encompasses passenger vehicles, commercial vehicles, and two-wheelers, with every segment aiding the country's movement toward cleaner, more sustainable transportation. Passenger electric vehicles (EVs) represent the largest segment within Spain’s EV market, accounting for most electric vehicle sales. These vehicles are favoured for their appropriateness for daily use, featuring models that vary from compact city cars to family sedans and SUVs. In Spain, consumers are progressively choosing Battery Electric Vehicles (BEVs), which provide zero-emission driving, reduced operating costs, and government incentives. The growth of charging infrastructure and governmental backing for EV adoption has greatly influenced the appeal of passenger EVs. BEVs and Plug-in Hybrid Electric Vehicles (PHEVs) are especially attractive in urban settings, where shorter travel distances and increasing environmental awareness render electric mobility a preferred option. The commercial electric vehicle (EV) sector in Spain has also experienced steady advancement, fuelled by mounting environmental regulations and the necessity for businesses to lessen their carbon footprints. This segment comprises electric vans, trucks, and delivery vehicles, predominantly utilized by logistics firms, retailers, and public services. Vehicles are becoming more popular because of their capacity to reduce operational expenses and comply with emission regulations. Spain’s focus on urban sustainability, along with stringent emissions standards, is encouraging companies to transition to electric vehicles for last-mile delivery, municipal services, and various commercial purposes. The electric two-wheeler market in Spain is also on the rise, particularly in urban centres where the necessity for cost-effective, environmentally friendly, and space-saving transportation options is significant. Electric scooters and motorcycles are increasingly favoured for daily commuting, presenting an alternative to conventional gasoline-powered two-wheelers. Brands produce electric scooters tailored for urban use, offering a practical, economical method to traverse crowded streets. Spain's electric vehicle (EV) market is significantly shaped by the accessibility and ease of charging options. The two main varieties of charging infrastructure in Spain are fast charging and normal charging. Each provides unique benefits and serves various consumer requirements, facilitating the wider acceptance of electric mobility in the nation. Fast charging serves as a crucial element propelling the growth of Spain’s EV market. These charging stations can deliver a substantial charge in a brief period, generally supplying an 80% charge within 30 to 60 minutes depending on the vehicle and the charger’s power output. Fast chargers are particularly vital for long-distance journeys, as they minimize downtime and allow EV owners to quickly recharge while traveling or transitioning between cities. In Spain, fast charging stations are being intentionally positioned along highways, at service areas, and in urban locales to meet the increasing demand. Spain’s national and regional authorities are also collaborating to endorse the deployment of fast-charging stations as part of their green mobility initiatives, intending to encourage the uptake of long-range electric vehicles. Consequently, fast charging has become progressively accessible, enhancing the overall ease of using EVs for both routine commuting and extended trips. Normal charging, also referred to as Level 2 charging, is more prevalent in residential neighbourhoods, public parking facilities, and workplaces. These chargers’ function at a lower power output and take a longer time to charge an EV — typically about 4 to 8 hours to fully recharge a vehicle. Normal charging is optimal for consumers who can leave their vehicles stationary for an extended duration, such as overnight at home or throughout their workday. It is the most cost-effective method of charging, and the most extensive infrastructure in Spain is built around this option, with numerous EV owners choosing to install home charging stations.

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Nikita Jabrela

Business Development Manager

Considered in this report • Geography: Spain • Historic Year: 2019 • Base year: 2024 • Estimated year: 2025 • Forecast year: 2030 Aspects covered in this report • Electric vehicle Market with its value and forecast along with its segments • Region & country wise electric vehicle Market analysis • Application wise electric vehicle marker distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Propulsion • Battery Electric Vehicle (BEV) • Fuel Cell Electric Vehicle (FCEV) • Plug-In Hybrid Electric Vehicle (PHEV) • Hybrid Electric Vehicle (HEV)

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By Vehicle Type • Passenger • Commercial • Two Wheelers By charging type • Fast • Normals The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.