Investigating the factors influencing the electric vehicle market share: A comparative study of the European Union and United States

Ruoqing Peng, Justin Hayse Chiwing G. Tang, Xiong Yang, Meng Meng, Jie Zhang and Chengxiang Zhuge

Applied Energy, 2024, vol. 355, issue C, No S0306261923016914

Abstract: Electric vehicles (EVs) are gaining worldwide popularity as a means to reduce greenhouse gas emissions and decrease dependence on fossil fuels. This comparative study examines the factors influencing the EV market share in the European Union (EU) and the United States (US), aiming to identify regional differences and similarities using statistical and spatial models. The study findings indicate that in the EU, ownership of charging outlets, personal income, education levels, and ages over 55 are positively correlated with the EV market share. However, population density does not support the adoption of EVs. In contrast, in the US, ownership of charging outlets is positively associated with the EV market share in the Central US, while higher personal income is strongly negatively correlated. These findings emphasize the need for tailored location-specific policies that target specific sociodemographic groups and prioritize the development of robust charging infrastructure.

Keywords: Electric vehicle; Market share; Influential factors; European Union (EU); United States (US); Geographically Weighted Regression (GWR) (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:appene:v:355:y:2024:i:c:s0306261923016914

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DOI: 10.1016/j.apenergy.2023.122327

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