Electric Classic Car Market Forecasts to 2032 - Global Analysis By Vehicle Type, Propulsion Type, Drive Type, Vehicle Age / Era, Component, Sales Channel and By Geography

According to Stratistics MRC, the Global Electric Classic Car Market is accounted for $259.0 million in 2025 and is expected to reach $583.4 million by 2032 growing at a CAGR of 12.3% during the forecast period. Electric classic car is a vintage or heritage vehicle that has been converted to run on an electric powertrain, replacing the original internal combustion engine. These retrofitted cars maintain their classic aesthetics while offering modern sustainability benefits, including reduced emissions and improved energy efficiency. Advanced battery systems, electric drivetrains, and regenerative braking enhance performance without compromising the vehicle's timeless appeal. The transition to electric propulsion allows classic car enthusiasts to preserve automotive history while adopting environmentally friendly transportation solutions.

Market Dynamics:

Driver:

Increasing demand for zero-emission vehicles

Increasing environmental awareness and stricter emission regulations, converting classic vehicles to electric power is becoming a popular solution. This transition allows enthusiasts to maintain the aesthetic and design of vintage cars while benefiting from modern electric drivetrains. Additionally, government incentives promoting clean transportation are further supporting adoption, making electric classic conversions an attractive option for eco-conscious drivers.

Restraint:

Limited availability of skilled technicians

Limited availability of skilled technicians poses a challenge to the widespread adoption of electric classic cars. Retrofitting vintage vehicles with electric drive trains requires specialized expertise, which is not yet widely accessible. Many traditional mechanics lack training in battery integration and electric propulsion technologies, slowing the pace of conversions hampering the growth of the market.

Opportunity:

Expanding demand for bespoke EV components and kits

As classic car owners seek tailored solutions to electrify their vehicles, manufacturers are developing specialized battery packs, modular electric drivetrains, and lightweight energy management systems. This trend is fostering innovation, enabling seamless customization while improving efficiency and performance. The rise of personalized EV restoration services is also driving market growth, as car enthusiasts prioritize unique, high-performance conversions that align with their individual preferences.

Threat:

Potential future restrictions on heavily modified vehicles

Regulatory bodies are continuously revising policies regarding vehicle modifications, and stricter guidelines on safety, emissions, and structural integrity may limit conversion options. Compliance with evolving automotive laws may require additional certifications and approvals, increasing conversion costs and affecting market accessibility. Furthermore, restrictions on historic vehicle alterations could challenge the preservation of classic car authenticity, influencing restoration trends and industry dynamics.

Covid-19 Impact:

The pandemic affected the electric classic car market by disrupting supply chains and limiting component availability. Delays in battery production and manufacturing impacted conversion timelines slowing industry growth. However, post-pandemic recovery efforts have led to renewed consumer interest in sustainable mobility, increasing demand for electric retrofits. The rise in online consultations and digital restoration services has also enabled classic car owners to explore conversion options remotely, fostering continued innovation in the sector.

The passenger cars segment is expected to be the largest during the forecast period

The passenger cars segment is expected to account for the largest market share during the forecast period driven by the rising trend of converting classic vehicles into electric models. Owners of heritage sedans, coupes, and convertibles are increasingly transitioning to electric propulsion to preserve their vehicles while reducing emissions. The appeal of blending timeless automotive aesthetics with modern sustainable technology is fueling adoption.

The battery electric vehicles (BEV) segment is expected to have the highest CAGR during the forecast period

Over the forecast period, the battery electric vehicles (BEV) segment is predicted to witness the highest growth rate supported by rapid advancements in battery efficiency and energy density. BEVs eliminate dependence on hybrid or combustion-based powertrains, offering fully electric solutions for classic car restoration. The improvement of lithium-ion and solid-state battery technology is making EV conversions more practical, extending vehicle range and enhancing performance.

Region with largest share:

During the forecast period, the Asia Pacific region is expected to hold the largest market share driven by strong government policies promoting clean mobility and advanced EV infrastructure. Countries such as China and Japan are heavily investing in sustainable automotive solutions, fostering innovation in electric retrofits for classic cars. The presence of established EV manufacturers and battery technology pioneers is further supporting the market's growth

Region with highest CAGR:

Over the forecast period, the North America region is anticipated to exhibit the highest CAGR fueled by a growing community of classic car restoration experts and EV enthusiasts. The region's progressive electric vehicle policies and increasing investment in electrification are encouraging classic vehicle conversions. Additionally, rising interest in personalized EV retrofitting services and modular battery systems is fostering innovation, positioning North America as a key hub for electric classic car development and adoption.

Key players in the market

Some of the key players in Electric Classic Car Market include Zero Labs Automotive, Zelectric Motors LLC, Volkswagen Classic Cars, Suzhou Lexsong Co., Ltd., Speedways Electric, Sebring Works, Porsche Classic, Marshell Green Power, Lunaz Design, London Electric Cars, Jaguar Land Rover Classic, Guangzhou Langqing Electric Car Co., Ltd, Ghost Garage, Ford Motor Company, Everrati, Electrogenic, Electric Classic Cars and CD Automotive Design.

Key Developments:

In May 2025, Ford Motor Company announced price increases for the Maverick, Bronco Sport, and Mach-E models, effective for vehicles built after May 2. The decision responds to new tariffs on automobiles and car parts, with price hikes ranging from $600 to $2,000.

In April 2025, Land Rover Classic announced the launch of the Classic Defender V8 Works Bespoke Soft Top. This model combines the iconic design of the classic Defender with a powerful 5.0-litre V8 engine, offering a personalized driving experience.

In February 2025, Marshell Green Power is recognized among key players in the electric utility vehicle market, which is projected to reach over $30.5 billion. The company's focus on innovative developments in street-legal utility vehicles aligns with the global shift towards clean mobility.

Vehicle Types Covered:

• Passenger Cars
• Sports Cars
• Luxury Cars
• Utility Vehicles
• Other Vehicle Types

Propulsion Types Covered:

• Battery Electric Vehicles (BEV)
• Hybrid Electric Vehicles (HEV)
• Plug-in Hybrid Electric Vehicles (PHEV)

Drive Types Covered:

• Rear-Wheel Drive (RWD)
• Front-Wheel Drive (FWD)
• All-Wheel Drive (AWD)

Vehicle Age / Eras Covered:

• Pre-War Vehicles (Before 1945)
• Vintage (1945-1975)
• Modern Classic (1976-1990)
• Youngtimers (1991-2000)

Components Covered:

• Electric Motors
• Battery Packs
• Controllers
• Charging Systems
• Thermal Management Systems
• Other Components

Sales Channels Covered:

• OEMs / Specialist Manufacturers
• Aftermarket / Custom Workshops
• Online Retail & Auctions
• Classic Car Dealers
• Other Sales Channels

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances