Electric Classic Car Convert Service - Market Scope
Converting a classic car to electric may be the future of owning a vehicle as governments clamp down on emission pumping diesel and petrol cars. For, Instance In July 2017, the British Government announced plans to ban all internal combustion engine-powered vehicles by 2040 with many experts predicting that electric battery-powered vehicles will outsell diesel and petrol alternatives by 2020; many other countries are starting to take the same approach. The rising demand in the market is hugely propelling the market growth over the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | ElectricGT (United States), Zero EV (United Kingdom), Revive Motors (United Kingdom), Echelon Motors Ltd (United States), Lindstrand Electric (United States), E-Cap Mobility GmbH (Germany), Electric Classic Cars (United Kingdom), MOMENT MOTORS DATSUN (United States),, Everrati Automotive Ltd (United Kingdom) and HEMMELS (United Kingdom) |
CAGR | % |
A large number of local and major companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. The market is expected to grow in the forecast period. Several companies are operating in the market to provide customers with various features & unique offering services. The market is a highly fragmented market with the presence of several market players and local players. Research Analyst at AMA estimates that Global Vendors will contribute to the maximum growth of Global Electric Classic Car Convert Service - market throughout the predicted period.
ElectricGT (United States), Zero EV (United Kingdom), Revive Motors (United Kingdom), Echelon Motors Ltd (United States), Lindstrand Electric (United States), E-Cap Mobility GmbH (Germany), Electric Classic Cars (United Kingdom), MOMENT MOTORS DATSUN (United States),, Everrati Automotive Ltd (United Kingdom) and HEMMELS (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Zelectric, RBW Electric Classic Cars (United Kingdom), Zero Labs Automotive Inc (United States), Electric GT (United States), The Surgery (New Zealand) and Electric classic cars (United Kingdom).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Electric Classic Car Convert Service - market by Type , by Application (Tourist Attraction, Large Amusement Parks, Closed Communities and Campuses) and Region with country level break-up.
On the basis of geography, the market of Electric Classic Car Convert Service - has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In March 2024, Auto rivals Nissan Motor opened a new tab and Honda Motor (7267.T), opens new tab is considering a strategic partnership to collaborate on producing key components for electric vehicles and artificial intelligence in automotive software platforms. The potential partnership could help the two develop economies of scale in producing EVs as Japan's automakers face heavy competition from China's BYD.
In April 2023, EV regeneration specialist Inverted has launched with its first model, a two-door Range Rover Classic converted to run on electric power. The first machine produced by Inverted is a two-door Range Rover Classic that has been numbered #001. It features the original combustion engine replaced by a reconditioned 80kWh battery module and drive unit from a Tesla.
Influencing Trend:
Converting a classic car to a fully electric vehicle would not only save you money on fuel bills and ongoing maintenance and servicing costs as electric drive systems are generally maintenance-free. No more engine problems, just relax and enjoy a reliable vehicle is the main factor which is trending in the market
Market Growth Drivers:
Rising demand for the electric vehicle
Challenges:
Limited number of Electric Vehicle Charging Infrastructure is the main factor hampering the market growth over the forecast period
Restraints:
The main restraining factor for electric vehicles is the acceptance of the classic electric vehicle among the end-user is the main factor hampering the growth of the market in the forecast period
Opportunities:
The rising popularity of classic electric cars among the end-user consumer is the main factor propelling the market
Key Target Audience
Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments, OEM (Original Equipment Manufacturer) and End-use Industry