All countries were ranked against technological, economic and political factors, then placed into a matrix. China and the United States ranked as Best-in-Class countries because they showed both high EV market size and EV market growth. Factors in their ranking include the future volume of a high number of buyers who will be able to afford EVs, and the development of an extensive charging infrastructure.
China and the United States are the two markets that Accenture believes automakers should target for investment in stronger distribution networks, while adapting product portfolios to cater to specific customer preferences.
Canada, France, Germany, Japan, the Netherlands, Norway, South Korea, Sweden and the United Kingdom are all ranked as High Potentials for their high growth prospects between now and 2020, but have a low EV market size currently. They are typified by government plans to invest significantly to make EVs more attractive.
The Accenture EV Market Attractiveness framework analyzes selected domestic EV markets to provide insight into key factors that are driving EV market growth. EV Market Attractiveness is defined as the degree to which—from a customer perspective—the purchase of an electric vehicle instead of a conventional vehicle, in both monetary and non-monetary terms, is a more attractive option. It depends on factors that are either market-specific (typically governmental regulations and subsidies) or non-market-specific (e.g., battery costs).