Italy Electric Vehicle Market 2022-2027

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    ITALY ELECTRIC VEHICLE MARKET

     

    INTRODUCTION

    In contrast to its gasoline-powered sibling, an electric car runs on electricity (internal combustion engine powered vehicles). Instead of an internal combustion engine, these cars are powered by an electric motor that requires a continual supply of power from battery packs to function.

     

    These cars employ a range of batteries, including lithium-ion, molten salt, zinc-air, and nickel-based systems. This electric car was created largely to replace traditional modes of transportation, which pollute the environment.

     

    With the continuous innovations in the automotive sector, EVs have seen tremendous progress. Increasing consumer desire for public transportation, increased acceptance of mobility-as-a-service (MaaS), falling costs of large capacity battery packs, and massive investment by EV manufacturers are driving electric mobility acceptance in international economies.

     

    Several firms are working to create novel solutions for electric transportation including energy storage systems. Some of the primary reasons fuelling the growth of the country’s electric car market include supportive government efforts, the existence of large market participants, and considerable increase in the electric car charging network.

     

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    The Italian government suggested a “bonus-malus” incentive strategy for the years 2019-2021 towards the end of 2018. The purchaser can obtain federal subsidies of up to $7,100 for automobiles polluting just under 20 g CO2/km as well as approximately to $2,800 for cars generating upwards of 250 g CO2/km underneath this scheme. Aside from the bonus-malus plan for M1 automobiles, the Financial Law 2019 also included an incentive programme with an overall expenditure of 12 Million USD.

     

    ITALY ELECTRIC VEHICLE MARKET DYNAMICS

    Throughout Italy, overall volume of EVs is still small, although it is large enough even to indicate a movement toward transportation system among Italian drivers. The DAFI administers federal Directive 2014/94/EU on the implementation of alternate energy infrastructures at the national scale.

     

    Another major goal of the directive is to minimise reliance on oil and to lessen the ecological impact of the transportation industry. As per DAFI, the acceptable number electric charging outlets are made to be accessible to the public throughout Italy whilst also December 31, 2020.

     

    Their volume will indeed be calculated taking into account the approximate amount of EVs that will be licenced by the end of 2020, among some other factors. This same Italian government offers several subsidies for the usage and mobility of electric vehicles.

     

    It included a five-year exemptions from the yearly circulating tax (ownership tax) from the day the EV was initially licenced, followed by a 75 percent decrease in the circulating tax beginning at the conclusion of that five-year timeframe.

     

    Numerous healthcare firms have begun offering lower rates on EV insurance premiums as an extra incentive for EV deployment. The majority of charging stations are centered in major metropolitan regions and cities.

     

    Another thing to consider is the amount of time necessary to recharge EVs. A large expansion of the infrastructure of quick charge locations across the country would almost probably result in a significant rise in demand for EVs.

     

    As part of its goal to help the country’s automotive industry, Italy wants to subsidise up to 6,000 euros of the purchase price of new electric automobiles. 

     

    To boost its automotive industry, Rome has put aside 8.7 billion euros through 2030, including roughly 700 million euros this year. 

     

    The 6,000-euro subsidy is conditional on the purchase of new vehicles costing up to 35,000 euros, and includes a 2,000-euro payment tied to the scrapping of a polluting combustion-engine vehicle. 

     

    The purchase of hybrid electric vehicles costing up to 45,000 euros will be subsidised by up to 2,500 euros, and the plan also includes 1,250 euro incentives for modern combustion-engine cars when older vehicles are scrapped.

     

    ITALY ELECTRIC VEHICLE MARKET SEGMENTATION

    The Italy Electric Vehicle Market can be segmented into following categories for further analysis.

    By Application

    • Passenger Vehicles
    • Commercial Vehicles
    • Industrial Vehicles
    • Military Vehicles

     

    By Product Type

    • Fully Electric Vehicles
    • Fuel Cell integrated Vehicles
    • Hybrid Electric Vehicles
    • PHEV

     

    By Technology Integration Framework Type

    • High Performance Vehicles
    • Sports Vehicles
    • Off Road Vehicles
    • Multipurpose Vehicles

     

    By Regional Classification

    • Northern Italy
    • Central Italy
    • Southern Italy
    • Eastern Italy
    • Western Italy

     

    RECENT TECHNOLOGICAL TRENDS IN ITALY ELECTRIC VEHICLE MARKET

    Electric automobiles were immensely popular among the wealthy socialites and businesses who could afford them. In fact, early EVs accounted for approximately one-third of all vehicles on the road.

     

    Automobile manufacturers all around the globe have revealed plans for new types of vehicles, including battery electric vehicles (BEV), plug-in hybrid electric vehicles (PHEV), and full hybrid electric vehicles.

     

    Those high-wattage electronic devices must communicate and manage low voltage digital controllers, which necessitates galvanic isolation in between secondary windings and the high-power subsystem.

     

    Between all these purposes, galvanic separation is essential to enable for the safe interconnection of digital controllers and high voltage systems in current electric automobiles. The power transmission component of an electric vehicle system is typically made up of four key circuits.

     

    Equipment such as the battery management system (BMS) sensor but instead maintain battery packs to guarantee quality and security, along with control getting charged, physical condition, discharge current, and conditioners of independent battery packs.

     

    Furthermore, it contains a DC / DC converter for connecting high-voltage batteries towards the interior 12V DC circuit. The above connection also supplies power to the peripherals as well as bias to the local shifting conversions. It also has an on-board charging (OBC), which is made up of AC to DC conversions featuring power quality improvement.

     

    RECENT ACQUISITIONS IN THE ITALY ELECTRIC VEHICLE MARKET

    Eni struck an agreement to buy 100% of Be Power S.p.A., which is the second largest Italian operator through its subsidiary Be Charge, through Eni gas e luce.

     

    In the following years, the number of electric vehicles on the road in Italy and throughout Europe is expected to steadily expand. In this light, Eni gas e luce’s acquisition of Be Power will enable the company to become a leading provider of electric car charging on public land, private land with public access, and Eni service stations in Italy and abroad.

     

    Be Power owns and operates the Be Charge branded charging infrastructures on public and private land, as well as the related concessions. It also uses a proprietary technological platform to manage its own charging stations as well as those of other operators, and it uses a dedicated app to provide charging services to electric vehicle owners at its own or third-party charging stations.

     

    RECENT LAUNCH IN THE ITALY ELECTRIC VEHICLE MARKET

    Alfa Romeo, an Italian luxury automobile manufacturer, launched the world’s first car with its own non-fungible token. The certificate is linked to the car and will certify it at the time of purchase, evolving to represent its use over the course of the vehicle’s existence.

     

    The “Tonale,” a hybrid electric vehicle, is considered as the first to feature blockchain-based technology in the form of a digital certificate of ownership. Tonale is a completely connected car with cutting-edge technology, software, and user interface,” says Silvia Cravero. In addition, the car will be equipped with plug-in hybrid electric vehicle technology.

     

    COMPETITIVE LANDSCAPE IN THE ITALY ELECTRIC VEHICLE MARKET

    The European electric car market has already been impacted as electric vehicle production operations have been shut down as a result of the mandated shutdown in key European countries. Furthermore, the scarcity of trained workers has hampered market expansion.

     

    Impact of increased demand for fuel-efficient, slightly elevated, and low-emission automobiles, as well as rigorous government laws and regulations on vehicle emissions, lead to the enhancement of the European electric vehicle industry.

     

    Energica Motor Company SPA is part of the growing economy towards better leading development of the electric vehicles in Italy wherein the organisation has focused on implementing cost efficient electric vehicles. This Energica EVA Ribelle is the naked version of the Energica EGO+; it will have the same energy, horsepower, quickness, and endurance as the Energica EGO+, with the only significant modifications being riding posture and peak speed.

     

    The Energica EVA Ribelle features the same straight performance of 215 Nm (159 lb-ft) as the EGO+, the very same 21.5 kWh protracted lithium-ion batteries offering up to 450 kms of City range, the very same handling and achievement choices, and all of the technology comforts.

     

    It may also reduce weight even further while increasing power to a maximum of 126 kW (169 Hp), with such a motorway distances of up to 200 kms, and, of obviously, DC Fast Charged.

     

    Nissan Automotive has been part of the much-required efficient EV production for sporting requirements. It has been involved in introducing e-POWER pulls on the Nissan LEAF’s Generation technologies but adds a gas engine that recharge the elevated batteries as needed.

     

    This eliminates the use of an additional charger while yet providing the same high power as an electric vehicle. e-POWER generates tremendous torque virtually instantaneously, improving driving responsiveness and resulting in smooth acceleration.

     

    Furthermore, the system runs very silently, much like a full-fledged EV. Because e-POWER can run the engines even at the most economical, overall fuel economy is equivalent to that of top conventional vehicles, particularly on short-distance commutes.

     

    The e-POWER system provides full electric drive control, which means that now the electric engine drives the wheels entirely. e-POWER is made up of a high-output power supply and a drivetrain that is combined with a gas engine.

     

    COMPANIES PROFILED IN THE ITALY ELECTRIC VEHICLE MARKET

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in theIndustry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2022-2027
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2022-2027
    19 Market Segmentation, Dynamics and Forecast by Application, 2022-2027
    20 Market Segmentation, Dynamics and Forecast by End use, 2022-2027
    21 Product installation rate by OEM, 2022
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2022
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

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