Australia Electric Vehicle Market

Detailed research report on Australia's electric vehicle market, covering market growth, industry analysis, size, and forecast from 2025 to 2030.

The Report Covers Electric Vehicle Forecast in Australia and the Market is segmented by Propulsion Type (Battery Electric Vehicles, Hybrid Electric Vehicles, Fuel Cell Electric Vehicles, and Plug-in Hybrid Electric Vehicles) and Vehicle Type (Passenger Cars, Light Commercial Vehicles, Medium-Duty Commercial Vehicles, and Heavy-Duty Commercial Vehicles). The Market size and Value of the Australian Electric Vehicle Market provided in value (USD).

Australia Electric Vehicle Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2025 - 2030)

Australia EV Market Size

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Australia Electric Vehicle Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Size (2025) USD 11.30 Billion
Market Size (2030) USD 47.12 Billion
CAGR (2025 - 2030) 33.06 %
Market Concentration Medium

Major Players

Australia Electric Vehicle Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Australia EV Market Analysis

The Australia Electric Vehicle Market size is estimated at USD 11.30 billion in 2025, and is expected to reach USD 47.12 billion by 2030, at a CAGR of 33.06% during the forecast period (2025-2030).

  • The COVID-19 pandemic initially had a negative impact on the market as the shutdown of manufacturing units and lockdowns resulted in a decrease in sales during the first half of 2020. However, eased restrictions coupled with notable initiatives of the government in the form of incentives and relief packages helped the market regain momentum by 2021. For instance, in Australia, 8,688 electric vehicles were sold in the first half of 2021.
  • Despite the global coronavirus pandemic, electric car sales have proven unexpectedly resilient in comparison to overall new vehicle sales. Australia was one of the top Asia-Pacific countries in terms of electric car adoption, with a value of about three percent in 2021. Further, in 2022, 33,410 electric vehicles were sold in Australia, setting a new high.
  • Over the medium term, increased demand for fuel-efficient, high-performance, and low-emission vehicles, increasingly strict laws and regulations on vehicle emissions, declining battery costs, etc., are expected to act as primary factors driving the market growth over the forecast period. Further, the active presence of key global players like Tesla, MG, and others with a focus on adopting strategies like offering cost-efficient models, product innovations, etc. expected to create a positive outlook for the market in the long run.
  • For instance, in January 2023, Aptera announced that the Launch Edition of its hyper-efficient solar-powered battery electric vehicle would go into production in 2023. With its 700-watt solar cell technology, the patented solar technology can add up to 64 kilometers of range. The startup brand revealed in 2022 that the solar cells for its three-wheeler EV will be manufactured. These cells completely cover the car, including the top and all upward-facing surfaces.
  • Government regulations to phase out fossil fuel-powered vehicles and government expenditures to improve public EV charging infrastructure are likely to contribute to market development. Further, Increasing investments and product launches by major OEMs in the country and their focus on localizing supply chain facilities create a positive outlook in the market.
  • Despite being home to one of the world's most successful charger manufacturers, Tritium DCFC, Australia currently has less than a third of the number of public chargers for every EV on the road compared to the worldwide average.
  • However, The NRMA, a motorist services company, is collaborating with the government to establish 135 charging stations across the national highway network over the next two to three years, adding to the 2,392 sites now in place. Moreover, the Australian government has also developed a national EV policy and increased financing for greener transport to AUD 500 million (USD 339 million). Electric vehicle sales in the country are already on the rise, accounting for 8% of total automobile sales in April 2023, up from 1.1% the previous year.
  • New South Wales and Victoria are home to the majority of Australia's electric vehicles, followed by the South Australia region. These states play a key role in the growth of the Australian electric vehicle market, with the majority of demand being supported by government initiatives and supportive charging infrastructure.

Australia EV Industry Overview

The Australian electric vehicle market is moderately consolidated owing to its competitive nature and the presence of a large number of players operating it across the country. These players are estimated to focus on the development of new products and innovations, which will help them expand their product portfolio and attract a large number of consumers across the country.

For instance, in August 2022, Toyota Australia announced pricing for the all-new Corolla Cross small SUV, which arrives in local showrooms in October with an entry-level recommended retail price of AUD 33,000. Customers will be offered a lineup of eight different variants with a choice of two-wheel drive or electric all-wheel drive, gasoline, or hybrid powertrains, and three grades - GX, GXL, and flagship Atmos.

In March 2022, Honda has confirmed plans to launch the next-generation HR-V in Australia. The new model will be available in two trim levels with a choice of petrol or hybrid power, pitting Honda against Toyota's C-HR Hybrid and the upcoming Corolla Cross Hybrid.

In October 2021, Ford Australia announced that it will introduce at least five new electrified vehicles by the end of 2024, starting with a full-size, pure-electric E-Transit as a part of its electrification strategy. E-Transit features both AC charging and DC fast charging. The vehicle's 11.3 kW on-board charger is capable of delivering a 100 percent charge in up to 8.2 hours. Ford Australia's EV roadmap forms part of Ford's global investment of USD 30 billion in electrification by 2025..p[

Some of the Key players operating in the Australian electric vehicle include Toyota Motor Corporation, Tesla, Lexus Corporation, Honda Motor Corporation, and others.

Australia EV Market Leaders

  1. Toyota Motor Corporation

  2. Tesla Inc.

  3. Lexus Motor Corporation

  4. MG Motor (SAIC MOTOR AUSTRALIA PTY LTD )

  5. Mazda Motor Corporation

  6. *Disclaimer: Major Players sorted in no particular order
Australia Electric Vehicle Market Concentration
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Australia EV Market News

  • April 2022: SEAT announced that CUPRA's first fully electric model CUPRA Born will go into production for Australia by the end of 2022 and will start deliveries early in 2023. 2022 will also see the automotive brand open a CUPRA City Garage in Sydney's CBD. The unique destination, close to the world's most famous harbor, will offer an unconventional and unique customer experience.
  • March 2022: BYD Atto launched its three electric crossovers in Australia through the exclusive distributor EV Direct. Among them is the Atto 3, which is known as the Yuan Plus in China. This cutting-edge model is built on e-Platform 3.0 and incorporates BYD's advanced Blade EV battery technology. The Atto 3 is available in two energy capacities, with the standard variant (Superior) equipped with a 50.1-kWh pack that provides a WLTP range of 320 km. For those seeking an extended range, the Superior Extended Range variant comes with a 60.4-kWh unit capable of covering 420 km on a single charge.
  • February 2022: Polestar announced the start of sales in Australia, with deliveries of the Polestar 2 set to begin in March with pre-configured vehicles. Polestar 2 is the first fully electric model in the Polestar portfolio, with pricing starting at a highly competitive USD 59,900 for the Standard range Single motor and USD 64,900 for the Long-range Single motor.
  • February 2022: Hyzon Motors Inc. announced that Melbourne will be home to Hyzon Motors Australia's headquarters under a new partnership agreement between the RACV and Hyzon, a global leader in zero-emissions hydrogen-powered commercial vehicles. Hyzon Motors, in conjunction with the RACV at their Noble Park location, will develop a purpose-built facility including corporate offices, a showroom, assembly warehousing, and a workshop, expected to generate over 100 local engineering and manufacturing jobs by 2025.

Australia EV Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Drivers
    • 4.1.1 Growing Investments into Developing Charging Infrastructure in the Country
  • 4.2 Market Restraints
    • 4.2.1 Lack of Public Charging Station
  • 4.3 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION (Market Size in Value - USD billion)

  • 5.1 By Propulsion Type
    • 5.1.1 Battery Electric Vehicles
    • 5.1.2 Hybrid Electric Vehicles
    • 5.1.3 Fuel Cell Electric Vehicles
    • 5.1.4 Plug-In Hybrid Electric Vehicles
  • 5.2 By Vehicle Type
    • 5.2.1 Passenger Cars
    • 5.2.2 Light Commercial Vehicles
    • 5.2.3 Medium-Duty Commercial Vehicles
    • 5.2.4 Heavy-Duty Commercial Vehicles

6. COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share
  • 6.2 Company Profiles
    • 6.2.1 Toyota Motor Corporation
    • 6.2.2 Tesla Motors Inc
    • 6.2.3 Lexus Motor Corporation
    • 6.2.4 MG Motor (SAIC MOTOR AUSTRALIA PTY LTD )
    • 6.2.5 Mazda Motor Corporation
    • 6.2.6 Hyundai Motor Group
    • 6.2.7 BMW Group
    • 6.2.8 Volkswagen AG
    • 6.2.9 Jaguar Land Rover Automotive PLC (Tata Motors)
    • 6.2.10 BYD Co. Ltd
    • 6.2.11 Honda Motor Company Ltd
    • 6.2.12 Renault Group
    • 6.2.13 Mercedes-benz Group AG
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Australia EV Industry Segmentation

An electric vehicle operates on an electric motor instead of an internal combustion engine, which solely generates power by burning a mix of fuel and gases. Therefore, an electric vehicle is seen as a possible replacement for the current-generation automobile in the near future to address environmental challenges.

The Australian electric vehicle market is segmented by propulsion type (battery electric vehicles, hybrid electric vehicles, fuel cell electric vehicles, and plug-in hybrid electric vehicles) and by vehicle type (passenger cars, light commercial vehicles, medium-duty commercial vehicles, and heavy-duty commercial vehicles). 

The report offers the market size and value in (USD) for all the above segments.

By Propulsion Type Battery Electric Vehicles
Hybrid Electric Vehicles
Fuel Cell Electric Vehicles
Plug-In Hybrid Electric Vehicles
By Vehicle Type Passenger Cars
Light Commercial Vehicles
Medium-Duty Commercial Vehicles
Heavy-Duty Commercial Vehicles
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Australia EV Market Research FAQs

How big is the Australia Electric Vehicle Market?

The Australia Electric Vehicle Market size is expected to reach USD 11.30 billion in 2025 and grow at a CAGR of 33.06% to reach USD 47.12 billion by 2030.

What is the current Australia Electric Vehicle Market size?

In 2025, the Australia Electric Vehicle Market size is expected to reach USD 11.30 billion.

Who are the key players in Australia Electric Vehicle Market?

Toyota Motor Corporation, Tesla Inc., Lexus Motor Corporation, MG Motor (SAIC MOTOR AUSTRALIA PTY LTD ) and Mazda Motor Corporation are the major companies operating in the Australia Electric Vehicle Market.

What years does this Australia Electric Vehicle Market cover, and what was the market size in 2024?

In 2024, the Australia Electric Vehicle Market size was estimated at USD 7.56 billion. The report covers the Australia Electric Vehicle Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Australia Electric Vehicle Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Australia EV Industry Report

The Australian Electric Vehicle Market is undergoing significant transformation, driven by various factors including advancements in propulsion types such as battery electric vehicles, hybrid electric vehicles, fuel cell electric vehicles, and plug-in hybrid electric vehicles. The market is segmented by vehicle types, encompassing passenger cars, light commercial vehicles, medium-duty commercial vehicles, and heavy-duty commercial vehicles. The market share and market size of electric vehicles in Australia are key indicators of the industry's growth trajectory.

Industry analysis reveals a positive market outlook, with industry statistics showing a steady increase in market value. Market growth is supported by favorable market trends and market segmentation that cater to diverse consumer needs. Industry reports and market reports provide comprehensive market data and market forecast, highlighting the industry's potential for future expansion.

Market leaders are playing a crucial role in shaping the market landscape, with their strategic initiatives and innovations. The industry overview and market overview offer insights into the current state of the market, while the market review and market predictions provide a glimpse into the future.

Research companies are actively involved in industry research, contributing to a deeper understanding of market dynamics. The industry size and market value are expected to witness substantial growth, driven by increasing consumer demand and technological advancements.

The report pdf and report example provide detailed industry information, including market statistics, industry trends, and growth rate. The industry outlook remains optimistic, with industry sales projected to rise. The market forecast and growth forecast indicate a robust market growth, supported by strong market data and industry analysis.

In conclusion, the Australian Electric Vehicle Market is poised for significant growth, with market predictions and market segmentation highlighting the diverse opportunities within the industry. The market outlook and industry outlook suggest a promising future, driven by continuous innovation and strategic market initiatives.