Market Overview
The Electric Classic Car Market was valued at USD 215.03 million in 2024 and is projected to reach USD 517.77 million by 2032, registering a CAGR of 11.61% during the forecast period.
| REPORT ATTRIBUTE |
DETAILS |
| Historical Period |
2020-2023 |
| Base Year |
2024 |
| Forecast Period |
2025-2032 |
| Electric Classic Car Market Size 2024 |
USD 215.03 million |
| Electric Classic Car Market, CAGR |
11.61% |
| Electric Classic Car Market Size 2032 |
USD 517.77 million |
The Electric Classic Car market includes key players such as Everrati, Lunaz Design, Electrogenic, London Electric Cars, Ghost Garage, CD Automotive Design, Electric Classic Cars, Guangzhou Langqing Electric Car Co., Ltd, Marshell Green Power, and Ford Motor Company. These companies focus on electric powertrain conversions, battery system upgrades, and bespoke restoration services that retain vintage aesthetics while delivering zero-emission performance. Europe leads the market with a market share of 38%, supported by strong heritage vehicle culture, advanced EV retrofit capabilities, and strict low-emission regulations. North America follows with a market share of 34%, driven by tourism adoption, luxury rental services, and collector demand for sustainable vintage mobility. Asia-Pacific holds a growing market share of 19%, supported by expanding EV technology investments and tourism development.
Market Insights
- The Electric Classic Car market reached USD 215.03 million in 2024 and is projected to hit USD 517.77 million by 2032, registering a CAGR of 11.61% during the forecast period.
- Demand rises as consumers seek sustainable vintage mobility, supported by EV conversion services and tourism adoption. Convertible models hold a 57% share, driven by leisure driving appeal, while commercial end users lead with a 61% share due to rental fleets and resort transportation needs.
- Key trends include luxury restoration partnerships, advanced battery upgrades, and digital cockpit integration. Growing interest in eco-tourism and heritage travel accelerates fleet deployment across resorts, historic venues, and private events, strengthening long-term adoption potential.
- The competitive environment features Everrati, Lunaz Design, Electrogenic, Ford Motor Company, London Electric Cars, and others focusing on modular retrofit systems, limited-edition builds, and high-performance drivetrains. Differentiation depends on craftsmanship, driving range, and charging capabilities.
- Europe leads the market with a 38% regional share, followed by North America at 34%, supported by heritage fleets and collector demand. Asia-Pacific holds 19%, boosted by battery innovation and tourism projects, while Latin America and Middle East & Africa account for the remaining share.
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Market Segmentation Analysis:
By Car
Convertible electric classic cars hold a market share of 57%, making them the dominant sub-segment. Buyers prefer the open-roof design for leisure driving and vintage-themed tourism experiences. Rental fleets and tour operators also increase adoption due to strong tourist demand for unique ride experiences. Closed electric classic cars capture the remaining market share and are chosen for all-weather usage in colder regions and private communities. Growth in both sub-segments is supported by improved battery efficiency, enhanced restoration materials, and strong consumer interest in sustainable mobility paired with classic vehicle aesthetics.
- For instance, Electrogenic upgraded a Land Rover Series IIA conversion kit featuring a 63 kWh battery and 120 hp motor output, enabling travel up to 200 km on a single charge and reducing drivetrain maintenance requirements.
By Application
Tourist attractions lead this segment with a market share of 49%, driven by strong deployment in heritage sites, themed resorts, and guided sightseeing zones. Operators rely on electric classic cars for their quiet operation, low emissions, and strong visual appeal that enhances visitor engagement. Large amusement parks and closed communities increase utilization for internal mobility and on-site transport services. Campuses also adopt these vehicles to support eco-friendly logistics. The segment grows as tourism planners and property managers prioritize sustainable short-distance travel solutions to improve visitor movement and operational efficiency.
- For instance, London Electric Cars converted a customer’s Morris Minor EV for personal city use, which featured a 13 kWh battery supporting approximately 40 miles (around 64 km) of range per charge, lowering operating noise and enhancing the urban driving experience.
By End Users
Commercial end users dominate with a market share of 61%, supported by rental companies, tourist mobility services, hotels, and event organizers. Businesses select electric classic cars to differentiate guest transport experience and strengthen sustainability positioning. Personal users also adopt these vehicles for private collections, restoration interest, and customized conversions supported by specialized EV retrofit workshops. The segment expands due to lower maintenance costs, improved charging infrastructure, and supportive government measures promoting electric vehicle adoption. Strong collector interest and growing luxury tourism demand continue to accelerate commercial fleet investment.
Key Growth Drivers
Rising Interest in Sustainable Vintage Mobility
Consumer preference for eco-friendly transport fuels demand for electric classic cars. Buyers look for vintage styling paired with electric drivetrains, supporting restoration and conversion services. Tourism operators, hotels, and event venues adopt these cars to improve guest mobility while lowering emissions. Government incentives and growing low-emission zones help replace combustion engines with electric alternatives. Battery innovation, lightweight materials, and longer driving ranges strengthen value perception and boost adoption across personal and commercial segments, helping the market expand.
- For instance, Lunaz Design engineered an electric Rolls-Royce Phantom conversion using a 120 kWh battery pack providing 483 hp output and travel capability up to 290 km per charge, enabling carbon-neutral chauffeured services for hospitality partners.
Expansion of Heritage Tourism and Leisure Transportation
Heritage resorts, themed tourist attractions, and guided tour operators increase deployment of electric classic cars to enrich visitor experiences. These vehicles support quiet, emission-free mobility and strengthen branding for eco-friendly travel services. Experiential tourism trends drive rental businesses and fleet managers to offer differentiated rides for city tours and resort transport. Partnerships between conversion workshops and tour operators expand fleet availability. Supportive tourism policies and investment in green mobility enhance growth opportunities within leisure transport and destination-based fleet services.
- For instance, Everrati supplied electric Land Rover Series IIA models equipped with a 60 kWh battery that supports a manufacturer-estimated 125 mile (200 km) travel range.
Growth in Electric Vehicle Conversion and Restoration Services
Advances in EV conversion systems allow classic cars to receive battery and drivetrain upgrades without altering their signature design. Specialized engineering firms offer custom powertrain integration, thermal management improvements, and enhanced safety features, increasing reliability and reducing maintenance. Digital 3D modeling supports precision component manufacturing and faster restoration timelines. Rising resale value and collector interest encourage investment in electric conversions among enthusiasts and tourism operators. Growing availability of modular battery packs and standardized retrofit kits supports long-term market expansion.
Key Trends & Opportunities
Integration of Advanced Infotainment and Connectivity Features
Manufacturers integrate navigation systems, digital displays, Bluetooth functions, and remote diagnostics into restored classic EVs. These enhancements retain vintage design while improving driving comfort and fleet oversight. Rental operators benefit from connected dashboards that optimize route planning and battery monitoring. Software updates and app-based features enable personalized driving preferences, appealing to premium buyers. The trend creates differentiation for fleet owners and supports expansion into experience-based tourism and luxury rental segments, strengthening revenue potential.
- For instance, Electrogenic has developed proprietary technology, including in-house designed software and battery management systems, for its Defender EV conversions, enabling features like powertrain diagnostics.
Luxury Automotive Partnerships and Limited-Edition Production
Partnerships between EV system suppliers, design studios, and heritage car brands enable limited-edition releases with exclusive craftsmanship. Luxury tourism providers use these cars for private tours, weddings, and high-profile events, increasing visibility in premium travel markets. Customized interiors, handcrafted bodywork, and performance-focused electric drivetrains attract high-net-worth buyers and collectors. Co-development projects between battery providers and restoration firms improve power delivery and charging efficiency. These collaborations support premium pricing models and expand opportunities across commercial and personal collector segments.
- For instance, Aston Martin Works developed a reversible “EV cassette” powertrain concept, using key components from the Rapide E program, initially demonstrated on an original 1970 DB6 MkII Volante.
Key Challenges
High Conversion and Restoration Costs
Electric conversions and classic car restoration require specialized engineering, low-volume parts, and high-capacity battery systems, resulting in significant upfront cost. Limited availability of certified components increases procurement and build time for workshops. Financing programs and insurance options remain limited, reducing adoption among budget-sensitive buyers and smaller tourism fleets. Despite lower long-term operating expenses, high entry cost restricts broader market penetration. Scalable retrofit platforms, modular battery units, and stronger supplier partnerships are necessary to reduce conversion expenses.
Limited Charging Infrastructure and Driving Range Constraints
Tourism areas, heritage sites, and remote resorts often lack reliable charging access, limiting fleet performance and tour scheduling. Range limitations and slow charging speeds challenge continuous operation for commercial rental services. Custom conversions may use non-standard charging interfaces, creating compatibility barriers during inter-regional travel. Operators may require backup units to maintain service continuity, increasing operational complexity. Expanded destination charging networks, portable power solutions, and battery enhancements are essential to support reliable deployment and reduce operational constraints.
Regional Analysis
North America
North America holds a market share of 34%, driven by strong adoption in heritage tourism, luxury rental experiences, and private collector ownership. The United States leads growth due to expanding EV conversion workshops, favorable incentives, and demand from high-net-worth buyers seeking vintage electric mobility. Tourist destinations, coastal resorts, and entertainment venues deploy electric classic cars for guided tours and premium visitor transport. Canada supports growth through sustainability programs and interest in low-emission leisure vehicles. Expanding charging infrastructure, event-based rentals, and restoration partnerships strengthen regional market development across commercial and personal end-user segments.
Europe
Europe accounts for a market share of 38%, making it the leading region supported by strong cultural interest in classic automotive preservation and strict emission regulations. The United Kingdom, Germany, France, and Italy host active retrofit and restoration firms that convert vintage vehicles to electric drivetrains. Growing heritage tourism, historic venue mobility, and luxury hotel fleets increase deployment of electric classic cars. European buyers value sustainability and craftsmanship, supporting premium custom builds. Government policies promoting electric mobility and expansion of low-emission zones encourage replacement of combustion engines and enhance market penetration across tourism and collector sectors.
Asia-Pacific
Asia-Pacific captures a market share of 19%, fueled by rising tourism development, themed entertainment parks, and smart-city mobility initiatives. China, Japan, and South Korea invest in EV technology and battery innovations that support cost-efficient classic vehicle conversions. Resorts, island destinations, and cultural heritage sites use electric classic cars to improve visitor mobility and align with green transport objectives. Growing luxury consumer interest and expanding restoration capabilities support adoption among private collectors. Government EV incentives and charging infrastructure expansion help accelerate market uptake in commercial fleets operating in leisure transport environments.
Latin America
Latin America holds a market share of 5%, supported by selective adoption in tourism regions, boutique resorts, and coastal destinations. Mexico, Brazil, and the Caribbean islands deploy electric classic cars for guest mobility and sightseeing services in eco-focused hospitality venues. Conversion workshops remain limited, but partnerships with international restoration firms improve access to retrofit expertise and battery systems. Interest from private collectors increases as luxury automotive culture expands. Charging availability and cost barriers restrict wider deployment, yet sustainability-driven tourism programs encourage gradual market growth in heritage sites and premium resort transportation.
Middle East & Africa
The Middle East & Africa region maintains a market share of 4%, driven by luxury tourism hubs, resort destinations, and private estate mobility. The United Arab Emirates and Saudi Arabia integrate electric classic cars into premium hospitality fleets and cultural attractions. High solar charging potential and smart-city investments support adoption in controlled environments such as gated communities and event venues. Africa shows early-stage deployment mainly in safari lodges and eco-tourism projects. Limited conversion expertise and infrastructure challenges slow broader adoption; however, rising sustainability commitments and luxury tourism expansion provide market growth opportunities.
Market Segmentations:
By Car
By Application
- Tourist attraction
- Large Amusement Parks
- Closed Communities
- Campuses
By End Users
By Geography
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
Competitive Landscape
Competitive landscape or analysis in the Electric Classic Car market features key players including Everrati, Marshell Green Power, Ghost Garage, Lunaz Design, London Electric Cars, Ford Motor Company, CD Automotive Design, Electrogenic, Guangzhou Langqing Electric Car Co., Ltd, and Electric Classic Cars. Companies compete based on EV conversion expertise, battery performance, heritage restoration quality, and bespoke customization capabilities. Luxury-focused firms emphasize handcrafted interiors, extended driving range, and limited-edition production to attract high-net-worth collectors and premium fleet operators. Commercial rental and tourism fleet providers collaborate with retrofit specialists to expand availability for heritage tours, event transport, and resort mobility. Strategic partnerships with battery manufacturers and EV technology suppliers enhance powertrain efficiency and charging compatibility. Manufacturers invest in modular retrofit kits and digital diagnostics to reduce maintenance costs and support wider adoption. Brand differentiation is strengthened through sustainability positioning, exclusive design elements, and expanding after-sales support networks across restoration and fleet service channels.
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Key Player Analysis
- Everrati
- Marshell Green Power
- Ghost Garage
- Lunaz Design
- London Electric Cars
- Ford Motor Company
- CD Automotive Design
- Electrogenic
- Guangzhou Langqing Electric Car Co., Ltd
- Electric Classic Cars
Recent Developments
- In August 2025, Everrati revealed the ultra-rare Porsche 911 (993) Founders Edition during Monterey Car Week.
- In February 2025, Lunaz Design reported a 150% increase in overseas orders for its electrified classic cars, with 35% of its total order book coming from the UK market.
- In May 2023, Everrati, the electric vehicle conversion specialist, unveiled a new all-electric iteration of the revered Porsche 911 model, drawing inspiration from the classic Porsche 911 ST.
Report Coverage
The research report offers an in-depth analysis based on Car, Application, End Users and Geography. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.
Future Outlook
- The market will expand as restoration firms scale EV conversion capacity.
- Battery technology improvements will increase vehicle range and charging efficiency.
- Tourism operators will adopt larger electric classic car fleets for premium visitor transport.
- Limited-edition vehicle programs will attract collectors and luxury buyers.
- Modular retrofit kits will reduce conversion time and support workshop growth.
- Digital dashboards and connected features will enhance fleet management and driving experience.
- Sustainability regulations will accelerate replacement of combustion-based classic vehicles.
- Partnerships between automakers, battery suppliers, and restoration specialists will strengthen innovation.
- Charging infrastructure growth will support deployment in resorts, campuses, and heritage sites.
- Financing and insurance packages specific to converted EVs will improve market accessibility.
