Turkey Electric Vehicle & Charging Infrastructure Market (2020-2026) | Analysis, Size, Share, Revenue, Forecast, Trends, Industry, Outlook & COVID-19 IMPACT

Latest 2023 Development of the Turkey Electric Vehicle & Charging Infrastructure Market

Turkey Electric Vehicle & Charging Infrastructure Market is experiencing significant growth in recent years. The major factors driving the growth of this market include government incentives and increasing consumer awareness. Some of the latest developments in the electric vehicle and charging infrastructure market of Turkey include government incentives to encourage the adoption of EVs. In general, it includes tax breaks, reduced registration fees, and exemptions from certain taxes. Additionally, the automakers of Turkey have formed partnerships with global automakers to produce EVs locally. Moreover, the government of Turkey and private companies are investing heavily in charging infrastructure to support the growing number of EVs on the road.

There is a growing awareness among consumers about the benefits of EVs leading to increased demand for EVs in the country. Also, the government has implemented strict environmental regulations to reduce carbon emissions and the development of EV charging infrastructure is seen as a key strategy to reduce carbon footprints. Advancements in battery technology are also increasing the range of EVs and reducing charging times making them more convenient for consumers. Thereby, fuelling the growth of the Electric Vehicle & Charging Infrastructure Market in Turkey.

Turkey Electric Vehicle & Charging Infrastructure Market Synopsis

Turkey Electric Vehicle & Charging Infrastructure Market witnessed substantial growth in recent years on account of the growing government efforts in the form of tax incentives to promote electric vehicles across the country. With an aim to reduce the dependency on imported energy, the government of Turkey is focusing on the development of public charging infrastructure and e-mobility under its Turkey Automobile sector strategy document and action plan 2016-2019, thus, fostering the demand for electric vehicles. Further, with growing awareness regarding air pollution and decarbonizing the transport sector, the adoption of electric vehicles is anticipated to increase at a considerable rate during the forecast period, on account of the contribution of electric vehicles to the cleaner urban landscape. The market has seen a halt owing to the massive outbreak of COVID-19 which resulted in nationwide lockdowns to combat the spread of the virus and has led to a decline in overall market growth.

According to 6Wresearch, Turkey Electric Vehicle & Charging Infrastructure Market size is projected to grow at a CAGR of 52.9% during 2020-2026. As per the National Energy Efficiency Action Plan (2017-2023), electric vehicle charging facilities need to be installed at the parking lots, fuel stations and other suitable locations with the affirmative consent of the affiliated electricity distribution company. As per the guidelines given in the draft, at least one of fifty parking spaces must have charge stations at paid parking lots on the street sides and shopping malls. Thus, with the growing adoption of electric vehicles and an increasing number of charging stations, the electric vehicle and charging infrastructure market revenues are anticipated to witness robust growth during the forecast period.

Market Analysis By Type of Vehicles

Based on the type of vehicles, electric passenger cars held the major chunk in the Turkey Electric Vehicle & Charging Infrastructure Market revenues in 2019 and would continue to maintain their dominance in the coming period as well, on account of increasing demand for electric passenger cars, along with government efforts to boost the manufacturing of these cars within the country. For instance, five major groups that include the Anadolu Group, BMC, Kok Group, Turk cell and Zorlu Holding as well as an umbrella organization, the Union of Chambers and Commodity Exchanges of Turkey, joined forces to form Turkey’s Automobile Joint Venture Group (TOGG) in June 2018.  By 2030, TOGG would establish its manufacturing unit in the country and own the intellectual property rights for manufacturing five different models of electric passenger cars-- SUV, sedan, c-hatchback, b-SUV and b-MPV.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Turkey Electric Vehicle & Charging Infrastructure Market Overview
• Turkey Electric Vehicle & Charging Infrastructure Market Outlook
• Turkey Electric Vehicle & Charging Infrastructure Market Forecast
• Turkey Electric Vehicle & Charging Infrastructure Market Size and Turkey Electric Vehicle & Charging Infrastructure Market Forecast for the period, 2021-2026F.
• Turkey Electric Vehicle & Charging Infrastructure Market Revenues, for the Period 2016-2026F
• Turkey Electric Vehicle & Charging Infrastructure Market Share, by Products
• Turkey Electric Vehicle Market Share, By Types
• Turkey Electric Vehicle Charging Infrastructure Market Share, By Types
• Turkey Electric Vehicle Market Revenues and Volumes, for the Period, 2016-2026F
• Turkey Electric Vehicle Market Revenues and Volume, By Types, for the Period, 2016-2026F
• Turkey Electric Vehicle Charging Infrastructure Market Revenues and Volumes, for the Period, 2016-2026F
• Turkey Electric Vehicle Charging Infrastructure Market Revenues and Volume, By Types, for the Period, 2016-2026F
• Turkey Electric Vehicle Charging Infrastructure Market Revenues, By Application, for the Period, 2016-2026F
• Turkey Electric Vehicle & Charging Infrastructure Market Drivers and Restraints
• Turkey Electric Vehicle & Charging Infrastructure Market Trends
• Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Turkey Electric Vehicle & Charging Infrastructure Market Revenue Share, By Companies
• Turkey Electric Vehicle & Charging Infrastructure Market Overview, By Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Products

• Electric Vehicles
• Electric vehicle Charging Infrastructure

Electric Vehicle, By Type

• Passenger cars
• Two Wheelers
• Buses
• Trucks

Charging Infrastructure, By Type

• AC Chargers
• DC Chargers

Charging Infrastructure, By Application

• Residential
• Commercial