Electric Classic Car Market Worth USD 669.11 Bn by 2034 | Towards Automotive

As reported by Towards Automotive experts, the global electric classic car market is anticipated to rise from USD 273.94 billion in 2026 to approximately USD 669.11 billion by 2034, with a CAGR of 11.81% from 2025 to 2034.

Ottawa, Oct. 02, 2025 (GLOBE NEWSWIRE) -- The global electric classic car market, valued at USD 245 billion in 2025, is expected to rise to approximately USD 669.11 billion in 2034, based on a report published by Towards Automotive, a sister firm of Precedence Research.

The electric classic car market has been growing in recent periods due to rising consumer interest in sustainable mobility, combined with a demand for vintage car designs powered by modern electric drivetrains.

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Key Highlights of the Electric Classic Car Market

By region, Europe dominated the portable wheel jack market, whereas the Asia Pacific is expected to grow in the foreseeable period.
By vehicle type, the luxury cars segment led the electric classic car market, whereas the sports cars are expected to grow in the foreseeable period
By conversion method, the partial conversion segment led the electric classic car market, whereas the complete restoration segment is expected to grow in the foreseeable period.

Market Overview

The electric classic car market is gaining strong traction as consumers seek eco-friendly mobility with vintage appeal. Classic car conversions to electric models are being fueled by rising awareness of sustainability and emission regulations. Reliability and performance are being improved by developments in battery and drivetrain technologies. A specific fusion of contemporary green innovation and heritage design is valued by enthusiasts. Growing demand for conversion services and specially designed electric classics is helping the market.

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New Trends of the Electric Classic Car Market

Heritage meets sustainability – Classic car enthusiasts are converting vintage vehicles to electric, blending timeless design with eco-friendly mobility.
Powering classics into the future – Advances in battery and motor technology are enhancing range, performance, and reliability for electric conversions.
Your classic, your way – Owners are opting for personalized conversions, including custom interiors, paint, and performance upgrades.
Vintage style, modern comfort – Modern features like safety systems, infotainment, and connectivity are being integrated into electric classics.
Drive clean, drive timeless – Emission regulations and environmental awareness are driving the adoption of classic electric cars.

Market Dynamics

Driver

Stricter emission regulations are encouraging the conversion of fuel-based classics to electric ones

Bans and taxes are being used by governments all over the world to phase out fossil fuel-powered vehicles. Making the switch to electric vehicles allows owners to adhere to these regulations while maintaining the roadworthiness of their cherished assets. Vintage cars will continue to be future-proof and legally drivable in cities thanks to this change.

Restraint

Limited availability of standardized conversion kits and skilled technicians

Standardization is challenging since every model of vintage car needs different modifications. Delays and increased expenses result from a lack of skilled technicians and workshops that can manage intricate retrofits. This inability to scale is a major obstacle to market growth. Additionally, reliance on specialized knowledge slows down the adoption process.

Opportunity

Rising demand for sustainable and zero-emission vehicles

Customers are moving away from internal combustion engines and toward electric alternatives as a result of growing environmental consciousness. People who love vintage cars are looking for ways to preserve them while lowering their carbon footprints. The market for electric conversions and EV-based classics is growing as a result of this trend. Opportunities are further increased when governments expand their green mobility programs.

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Regional Analysis

Europe is dominating the electric classic car market because of its robust restoration culture, strong automotive heritage, and benevolent environmental laws. Its market leadership is further supported by high disposable income, sophisticated EV infrastructure, and the existence of specialized workshops. Demand is further increased by European governments incentives for the adoption of electric vehicles.

Asia Pacific is the fastest growing market, driven by growing EV infrastructure, growing environmental consciousness, and rising disposable income. Fans of vintage cars are becoming increasingly popular due to the rise of luxury automotive culture and rapid industrialization. Easier access to conversion services in the region is made possible by the growth of digital platforms and e-commerce.

India Electric Classic Car Market Trends

The electric classic car market in India is an emerging niche, motivated by fans and aided by financial incentives from the government. Vintage cars can now be electrified thanks to developments in battery technology and conversion kits, and demand is being driven by wealthy consumers. Despite the small number of workshops, the market is steadily growing and has significant room to grow.

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Segmental Analysis

By Vehicle Type

Luxury cars segment dominates the electric classic car market because wealthy buyers prefer to keep the design and heritage of expensive cars while converting them to electric. The demand for sustainable luxury solutions is high, and this segment leads due to its high margins. Exclusive conversion kits designed for high-end cars and custom services are advantageous to this market.

Sports cars segment is the fastest growing segment, as enthusiasts increasingly seek high-performance electric conversions for iconic models. Advanced EV technology allows for enhanced acceleration and handling, attracting niche buyers. Rising interest in motorsports and sustainable performance vehicles is further accelerating growth in this segment.

By Conversion Method

Partial conversion segment dominated the market, backed by quicker conversion times and cheaper prices than full restoration. For many fans of vintage cars, it is a sensible option because owners can electrify important parts while keeping some of the original ICE features. This method preserves the authenticity of the vehicle while guaranteeing regulatory compliance.

Complete restoration segment is growing rapidly in the electric classic car market because it makes it possible to completely convert vintage automobiles into highly efficient electric cars. This approach is preferred by customers looking for the highest level of customization and durability. Increased use of fully electric restorations is being driven by both technological advancements and growing disposable incomes.

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Recent Developments

In November 2024, Electrogenic unveiled its latest EV conversion technology at the SEMA show and announced a new approach to supplying customers, making individual elements available to business customers in America to help drive innovation in the EV conversion market.
In October 2024, RBW EV Cars launched a supplier business to provide its electric systems and components to other automakers for high-end, limited-edition models. The company plans to produce 300 of its own vehicles annually and up to 3,000 EV systems for other automakers through its Spirit EV unit.

Electric Classic Car Market Top Companies

Electric Classic Cars
Lunaz Design
Electric GT
Zelectric Motors
EV West
Charge Cars
Electric Dreams
Ampere Motor
Everrati Automotive
Lunaelectric

Electric Classic Car Market Segmentations

By Vehicle Type

Vintage Cars
Classic Cars
Sports Cars
Luxury Cars

By Conversion Method

Complete Restoration
Partial Conversion
Bolt-On Conversion Kits

By Region

North America
- United States
- Canada
- Mexico
Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
Asia-Pacific
- China
- Japan
- South Korea
- Australia
- India

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About Us

Towards Automotive is a leading research and consulting firm specializing in the global automotive industry. We deliver actionable insights across key segments such as electric vehicles (EVs), autonomous driving, connected cars, automotive software, aftermarket services, and more. Our expert team supports both global enterprises and start-ups with tailored research on market trends, technology, and consumer behavior. With a focus on accuracy and innovation, we empower clients to make informed decisions and stay competitive in a rapidly evolving landscape.

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