electric vehicle market

  • The electric vehicle market has witnessed tremendous growth in the last few years owing to the significant advancements in the electric vehicles industry.

  • Encouraging investments made by governments across the globe to increase the adoption of electric vehicles, creating opportunities for OEMs to expand their revenue stream and geographical presence. The European market is projected to experience steady growth, owing to a well-developed infrastructure for electric vehicles, while the Asia Pacific market is the fastest due to the strong presence of major electric vehicle manufacturing OEMs. However, the initial high costs and lack of standardization of charging stations could hamper the growth of the electric vehicle market.

  • The global electric vehicle market is driven by volumetric surge in the automotive sector and the introduction of new technologies. In addition, the requirement of efficient vehicles with zero carbon emission and reduced Li-ion battery cost, drive the demand for this electric vehicle market.

  • Objective of study is to define, describe, and provide a detailed analysis of electric vehicles market. The report segments the market by propulsion, by vehicle type, by V2G, by charging station type, by charging infrastructure, by power output, by installation type, and by region. The OEMs in North America such as Tesla and GM have focused on the development of faster, cleaner, and high-performance electric vehicles.

  • Electric Vehicle Market by Propulsion (BEV, PHEV, FCEV), Vehicle (PC, CV), Charging Station (Normal, Super), Charging Infrastructure (Normal, Tesla SC), Power Output, Installation, and Region - Global Forecast to 2025

  • Electric Vehicle Market report forecasts revenue growth at global, regional, and country levels and provides an analysis on latest industry trends in each of the sub-segments from 2019 to 2024. For the purpose of this study. The report segments the electric vehicle market by propulsion, by vehicle type, by V2G, by charging station type, by charging infrastructure, by power output, by installation type, and by region

  • Detailed analysis of the “Electric Vehicle Market” helps to understand the various types of Electric Vehicle products that are currently in use, along with the variants that would gain prominence in the future.

  • Global Electric Vehicle Industry was valued at USD 97.4 Billion in the year 2017. Global Electric Vehicle Industry is further estimated to grow at a CAGR of 18.59% from 2018 to reach USD 466.57 Billion by the year 2025. Asia Pacific region holds the highest Industry share in 2016 and European Industry is considered as the fastest growing Industry in the forecasted period. At a country level, developed markets like China, Norway with highest population base holds the notable Industry share in 2016 and it is projected to grow strongly in the coming years.

  • The Report Studies the “Global Electric Vehicle (BEV, PHEV) Market 2023” Status and Outlook of Global and Major Regions, from Angles of Players, Countries, Product Types and end Industries by Forecast 2023.

  • An electric vehicle market uses one or more electric motors for propulsion. Advancements in battery technology have helped increase driving range of an electric vehicle. Hence, popularity of EVs has grown in the recent past. With a view to reduce crude oil consumption, automotive emissions, & air pollution, governments around world are adopting and implementing favorable policies to promote electric vehicles.

  • This research report discloses all the important information associated with the Electric Vehicle market such as value, growth factor, trends, market share, size, and challenges for the forecasted timeline 2018-2025.

  • The Electric Vehicle Market report highlights the current market size and future potential of the market at the global and regional level with the help of industry trends and market performance.

  • The Global Electric Vehicles Market accounted for USD 118.4 billion in 2016 and is expected to reach USD 346.3 billion by the end of forecast period i.e. 2024. Further the market is anticipated to expand at a compound annual growth rate of 14.3% over the forecast period i.e. 2016-2024

  • The major factors behind the growth of electric vehicle sales are government support in the form of grants, subsidies, and tax rebates, increasing environmental consumer awareness, improving charging infrastructure, and increasing vehicle range.

  • Fuel cells are devices that fuse hydrogen and oxygen electrochemically to produce heat, electricity and water. Unlike conventional batteries, fuel cells are able to generate power continuously as long as source fuel is supplied.Fuel cell is a green technology which do not burn fuel and up to three times more efficient than combustion technologies.

  • The electric vehicle was primarily designed to replace conventional ways of travel that cause environmental pollution. Electric vehicles have gained popularity owing to numerous technological advancements.

  • According to Goldstein Research, global electric vehicle market size is projected to reach USD 346.3 billion by 2024 from an estimate of USD 118.4 billion in 2016, growing at a compounded annual growth rate of 14.3% during the forecast period 2016-2024

  • According to Goldstein Research, “Growing global concerns to curb vehicle emissions and related regulations has spurred the market growth of electric vehicles across the globe."

  • “An electric vehicle, also called an EV, uses one or more electric motors or traction motors for propulsion. The electric vehicles are powered either by a collector system through electricity from charging station deployments or can be charged by self-charging devices such as regenerative braking systems, turbochargers, and others. The major factors behind the growth of electric vehicle sales are government support in the form of grants, subsidies, and tax rebates, increasing environmental consumer awareness, improving charging infrastructure, and increasing vehicle range. The Electric Vehicle market is expected to grow worth of USD +11 Million and at a CAGR of +33% over the forecast period 2018-2025.”

  • “An electric vehicle, also called an EV, uses one or more electric motors or traction motors for propulsion. The electric vehicles are powered either by a collector system through electricity from charging station deployments or can be charged by self-charging devices such as regenerative braking systems, turbochargers, and others. The major factors behind the growth of electric vehicle sales are government support in the form of grants, subsidies, and tax rebates, increasing environmental consumer awareness, improving charging infrastructure, and increasing vehicle range. The Electric Vehicle market is expected to grow worth of USD +11 Million and at a CAGR of +33% over the forecast period 2018-2025.”

  • The global electric vehicle sales in 2017 reached 1.19 million units and are projected to grow at a CAGR of 32.57% to reach 10.79 million units by 2025.