The Global electric vehicle sales are projected to grow at a CAGR of 20.68% from 2016 to 2021, to reach 5.76 million units by 2021.
Government support in form of subsidies, grants, and tax rebates, improving charging infrastructure, increasing vehicle range and reducing EV battery cost has resulted in the growth in sales of EVs globally.
Global Electric Vehicle (EV) sales are projected to grow at a CAGR of 20.68% during the forecast period, to reach 5.76 million units by 2021.
Browse 107 market data tables and 75 figures spread through 205 pages and in-depth TOC on “Electric Vehicle Market by EV battery Cost, EV Components (Battery, On-Board Charger), Propulsion (BEV, PHEV, HEV, FCEV), Recharging Station (Normal & Super Charging), Govt. Regulation (EV Subsidies, EV Tax Rebates) and Region - Global Forecast to 2021”
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The BEV segment (zero emission vehicles) is set to register the highest growth rate in the Electric Vehicle Market, in comparison with HEVs and PHEVs, because of the availability of better subsidies and support from governments. Increasing vehicle range and improving charging infrastructure has further fueled the demand for BEVs.
Electric Vehicle Market Segmented into:
- By Propulsion Technology
- By EV Regulations
- Battery Treatment Regulations
- Safety Regulations
- Subsidies And Taxes
- By Vehicle Type
- Passenger Car
- Commercial Vehicle
- By Future Technology
- Battery Cost
- EV Range
- Battery Charging Time
- By Re-Charging Stations Type
- Normal Charging
- Super Charging
- By EV Component Type
- Battery Cells And Pack
- Lithium-Ion Battery
- Nickel–Metal Hydride (Ni-Mh) Battery
- Fuel Cell Battery
- On-Board Charger
- Infotainment System
- Instrument Cluster
- By Region
- North America
- The Netherlands
Electric passenger car is the fastest growing segment in the global electric vehicle market. The growth can be attributed to the growing demand for fuel efficient vehicles, increasing environmental awareness among consumers, competitive pricing in comparison to the ICE passenger cars.
The increasing support from governments in China, Japan France, Norway and the U.S., and the OEM’s efforts to improve the existing EVs models would drive the sales of EV passenger cars during the forecast period.
The major market players in the global electric vehicle market:
Tesla Motors Inc. (U.S.), Nissan Motor Corporation (Japan), BYD Company Limited (China), LG Chem. (South Korea), Panasonic Corporation (Japan), Delphi Automotive (U.K.), Samsung SDI (South Korea), Automotive Energy Supply Corporation (Japan) and Car Charging Group (U.S.), and Charge Point Inc.
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