Factors Demand Electric Vehicles: A Meta-Analysis

Abstract

Electric vehicle (EV) adoption is influenced by economic, infrastructural, psychological, and policy-related factors, but the magnitude and consistency of these impacts vary across empirical studies.A meta-analytic framework was employed in this research to summarize the EV adoption literature quantitatively. By identifying 9 independent study-country units (total N=32,479), the authors extracted effect sizes (standardized coefficients (β), elasticities, marginal effects, willingness-to-pay (WTP) values) to be pooled and described the variability between studies even though formal heterogeneity statistics (Q, I²) were not available due to a lack of reported standard errors. The pooled (β) findings indicated that technology perceptions had the most substantial positive impact on adoption intention (mean β≈0.29, k=3), social influence (β=0.19, k=3), and environmental concern (β=0.17, k=2) ranked next.The analysis of charging-related variables revealed that the effects were quite mixed (β=0.01, k=4), positive being seen as facilitating conditions and negative as barriers; technological constraints (limited range, slow charging) had a consistent negative effect (β= 0.36, k=1). Price factors were heterogeneous: financial barriers (β= −0.75) and positive perceived value (β=0.23) yielded an overall negative mean (β=−0.26, k=2). EV demand was highly sensitive to purchase price (elasticity=-2.0) and operating cost (elasticity=−1.2, k=2 each), with charging infrastructure positively associated with sales (elasticity=1.22, k=1). WTP estimates showed consumers paid a premium for lower costs, extended range, and faster charging. Moderator patterns indicated stronger charging and cost effects in developing markets, with psychological and social factors consistent across contexts.

The present study gathers the factors leading to the adoption of electric vehicles (EVs), elucidates the relative importance of the main factors, and identifies gaps, mainly the lack of studies on driving range and policy incentives.