Israel Electric Vehicle Market Size study, by Type (Battery electric vehicle, Fuel cell electric vehicle, Plug-in hybrid electric vehicle, Hybrid electric vehicle, Autonomous Electric Vehicles), by Vehicle Type (Passenger Cars, Light Commercial Vehicles),

Israel Electric Vehicle Market Size study, by Type (Battery electric vehicle, Fuel cell electric vehicle, Plug-in hybrid electric vehicle, Hybrid electric vehicle, Autonomous Electric Vehicles), by Vehicle Type (Passenger Cars, Light Commercial Vehicles), by Charger (Normal, Fast), by Power Output (Less than 100 KW, 100-250 KW, Above 250 KW), by Sales Channel (OEMs, Aftermarket), and Forecasts 2022-2032

Israel Electric Vehicle Market is valued at approximately USD 3.0 billion in 2023 and is projected to grow with a remarkable CAGR of 52.42% over the forecast period from 2024 to 2032. This growth trajectory is driven by several critical factors including the substantial increase in EV demand. by The electric vehicle (EV) market in Israel is experiencing notable growth and transformation, driven by a combination of policy support, technological innovation, and increasing consumer interest. The shift towards electric vehicles aligns with Israel’s broader environmental goals, including reducing urban air pollution and dependence on fossil fuels. The EV market is seen as a key component of Israel's strategy for sustainable development.

The Israel electric vehicle (EV) market is evolving rapidly, driven by a combination of government initiatives, technological advancements, and shifting consumer preferences. Government policies, including subsidies and incentives for EV purchases, as well as regulations aimed at reducing emissions, are playing a crucial role in fostering market growth. Technological advancements in battery technology, charging infrastructure, and vehicle design are making EVs more appealing and accessible to consumers. Major automotive manufacturers and startups are investing in EV development and innovation, contributing to a diverse and competitive market landscape. The rise of charging infrastructure, supported by both public and private investments, is addressing one of the significant barriers to EV adoption. Additionally, growing environmental awareness and the push towards sustainability are encouraging consumers to consider EVs as a viable alternative to traditional internal combustion engine vehicles. However, challenges such as high upfront costs, limited model availability, and concerns about battery range and charging convenience still impact market growth. Despite these hurdles, the Israeli EV market is poised for expansion as advancements continue and the ecosystem for electric mobility matures.

The Israeli government, alongside private enterprises, has been proactive in bolstering the electric vehicle market. There is a concerted effort to expand the charging infrastructure, which includes high-capacity charging outlets at homes and public charging networks. As of April 2024, there were around 4,000 charging stations in Israel, a number that is expected to grow significantly to support the increasing EV adoption.

Major market players included in this report are:

Mobileye

REE Automotive

Electreon Wireless

Breeze Technologies

B2V Technologies

Company 6

Company 7

Company 8

Company 9

Company 10

Company 11

Company 12

Company 13

Company 14

Company 15

The detailed segments and sub-segment of the market are explained below:

By Type:

Battery electric vehicle (BEV)

Fuel cell electric vehicle (FCEV)

Plug-in hybrid electric vehicle (PHEV)

Hybrid electric vehicle (HEV)

Autonomous Electric Vehicles

By Vehicle Type:

Passenger Cars

SUVs

Light Commercial Vehicles

By Charger:

Normal

Fast

By Power Output:

Less than 100 KW

100-250 KW

Above 250 KW

By Sales Channel:

OEMs

Aftermarket

Years considered for the study are as follows:

Historical year – 2022

Base year – 2023

Forecast period – 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.

Annualized revenues analysis for each market segment.

Competitive landscape with information on major players in the market.

Analysis of key business strategies and recommendations on future market approach.

Analysis of competitive structure of the market.

Demand side and supply side analysis of the market.

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