Global electric vehicles market likely to propelling due to government incentives and environmental policies and increasing prices of fuel, urging the need for alternative energy-efficient sources
The global electric vehicle market generated USD 165.76 Billion in 2019 and projected to reach USD 811.82 Billion by 2027, registering a CAGR of 18.61%. It is primarily attributed to the governments around the world that have supported and provide financial aids for respective industries to manufacture and innovate with advanced electric models. Additionally, growing concern towards environmental pollution will impact the electric vehicles industry in the future time. Electric vehicles are cleaner than internal combustion engine vehicles over their lifetime; for example, the electric car produces half of the greenhouse gas emissions on an average passenger car. For instance, an electric vehicle is almost 30% cleaner over its life cycle compared to even the most efficient internal combustion engine vehicle in the market. These attributes of electric vehicles strengthen governments' goals to promote electric cars. Hence, in the next ten years, the market demand for electric vehicles will propel owing to growing concern regarding environmental pollution.
Furthermore, the provision of home charging options with every EV purchases electric vehicle by manufacturers, adding to the convenience of consumers, will lead to spur the robust growth of the electric vehicle industry. Also, the increasing awareness among customers about the harmful effects of environmental pollution caused by gasoline and petrol as a fuel, coupled with the automobile companies that are working on making EVs affordable, will result in significant growth of the market.
The growing preference of consumers toward electric vehicles will end in the higher deployment of EV traction motors, thus, creating revenue-generating opportunities for the e-mobility market across the globe. Moreover, a huge surge in energy cost and competition among emerging energy efficiency technologies projected to fuel the global electric vehicle market in the forecast period.
Vehicle Type Overview in the Global Electric vehicles Market
Based on vehicle type, the global electric vehicle market classified into passenger cars, two-wheeler, three-wheeler, and commercial vehicles. The passenger cars will be the fastest-growing segment in the forecast period. It is attributable to the rise in sales of electric passenger cars along with government supportive financial plans on the purchase of EV cars.
Propulsion Type Overview in the Global Electric vehicles market
Based on propulsion type, the global electric vehicle market segregated into battery electric vehicle (BEV), fuel cell electric vehicle (FCEV), plug-in hybrid electric vehicle (PHEV), and hybrid electric vehicle (HEV). The hybrid electric vehicle (HEV) held for the highest revenue in 2019 due to the growing adoption of a hybrid electric vehicle by many OEMs.
Vehicle Class Overview in the Global Electric vehicles Market
Based on Vehicle Class, the global electric vehicle market bifurcated into Mid-priced and Luxury. The Mid-priced segment accounted for a larger market share in 2019 and projected to lead the market by 2027. It is due to the huge demand for mid-price EV along with governments' incentives on the purchase of EV.
Power Output Overview in the Global Electric vehicles Market
Based on power output, the global electric vehicle market categorized into Less Than 100 kW, 100-250 kW, and above 250 kW. The Less Than 100 kW segment generated the largest revenue in 2019, on account of their power handling capacity that is sufficient for charging the relatively low power batteries like for e-bikes, scooters, electric wheelchairs, etc.
Charging Station Overview in the Global Electric vehicles Market
Based on the charging station, the global electric vehicle market bifurcated into AC EV Charging Station and DC EV Charging Station. DC EV Charging Station segment estimated to dominate the electric vehicle market by 2027. It is due to the ability of DC charging stations to charge an electric vehicle (EV) in lesser time compared to AC charging stations. DC EV Charging Station is capable of charging an EV in 20-30 minutes. Fast chargers for electric vehicles use DC charging, convert the power before it enters the vehicle.
Regional Overview in the Global Electric vehicles Market
By geography, the Global Electric vehicles Market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America accounted for maximum revenue share in 2019, owing to the presence of keys players in these regions, and sales of electric vehicles have doubled in the US. Additionally, the growing demand for electric cars, government initiatives, and high disposable income will impact the USA EV market in the next few years.
Global Electric vehicles Market: Competitive Landscape
Companies such as General Motors, Nissan Motor, Tesla Motor, Toyota, BYD, Daimler AG, Mitsubishi Motors Corporation, Renault S.A., Smith Electric Vehicles, Volkswagen, BMW, Toyota, Ford, Volvo, Daimler, Hyundai, Honda, Continental AG, and Energica Motor Company SpA, are the key players in the Global Electric Vehicle Market.
Global Electric Vehicle Market
Report Content
1. Research Strategic Development
1.1. Market Modelling
1.2. Product Analysis
1.3. Market Trend and Economic Factors Analysis
1.4. Market Segmental Analysis
1.5. Geographical Mapping
1.6. Country Wise Segregation
2. Research Methodology
2.1. Identification of Target Market
2.2. Data Acquisition
2.3. Refining of Data/ Data Transformations
2.4. Data Validation through Primary Techniques
2.5. Exploratory Data Analysis
2.6. Graphical Techniques/Analysis
2.7. Quantitative Techniques/Analysis
2.8. Visual Result/Presentation
3. Executive Summary
4. Market Insights
4.1. Supply Chain Analysis
4.2. Economic Factor Analysis
4.2.1. Drivers
4.2.2. Trends
4.2.3. Opportunities
4.2.4. Challenges
4.3. Technological Landscape
4.4. Competitors & Product Analysis
4.5. Regulatory Framework
4.6. Company market share analysis, 2019
4.7. Porter's Five forces analysis
4.8. New Investment Analysis
4.9. PESTEL Analysis
5. Global Electric Vehicle Market Overview
5.1. Market Size & Forecast, 2016-2027
5.1.1. Demand
5.1.1.1. By Value (USD Million)
5.1.2. Consumption
5.1.2.1. By Volume (Thousands Unit)
5.1.3. Supply/Production
5.1.3.1. By Volume (Thousands Unit)
5.2. Market Share & Forecast, 2016-2027
5.2.1. By Vehicle Type
5.2.1.1. Passenger Cars
5.2.1.2. Two-Wheeler
5.2.1.3. Three Wheeler
5.2.1.4. Commercial Vehicles
5.2.2. By Vehicle Class
5.2.2.1. Mid-priced
5.2.2.2. Luxury
5.2.3. By Propulsion Type
5.2.3.1. Battery Electric Vehicle (BEV)
5.2.3.2. Fuel Cell Electric Vehicle (FCEV)
5.2.3.3. Plug-In Hybrid Electric Vehicle (PHEV)
5.2.3.4. Hybrid Electric Vehicle (HEV)
5.2.4. By Power Output
5.2.4.1. Less Than 100 KW
5.2.4.2. 100-250 KW
5.2.4.3. Above 250 KW
5.2.5. By Charging Station
5.2.5.1. AC EV Charging Station
5.2.5.2. DC EV Charging Station
5.2.6. By Region
5.2.6.1. North America
5.2.6.2. Europe
5.2.6.3. Asia Pacific
5.2.6.4. South America
5.2.6.5. Middle East & Africa
6. North America Electric Vehicle Market Overview
6.1. North America Electric Vehicle Market Size & Forecast, 2016-2027
6.1.1. Demand
6.1.1.1. By Value (USD Million)
6.1.2. Consumption
6.1.2.1. By Volume (Thousands Unit)
6.1.3. Supply/Production
6.1.3.1. By Volume (Thousands Unit)
6.2. North America Electric Vehicle Market Share & Forecast, 2016-2027
6.2.1. By Vehicle Type
6.2.1.1. Passenger Cars
6.2.1.2. Two-Wheeler
6.2.1.3. Three Wheeler
6.2.1.4. Commercial Vehicles
6.2.2. By Vehicle Class
6.2.2.1. Mid-priced
6.2.2.2. Luxury
6.2.3. By Propulsion Type
6.2.3.1. Battery Electric Vehicle (BEV)
6.2.3.2. Fuel Cell Electric Vehicle (FCEV)
6.2.3.3. Plug-In Hybrid Electric Vehicle (PHEV)
6.2.3.4. Hybrid Electric Vehicle (HEV)
6.2.4. By Power Output
6.2.4.1. Less Than 100 KW
6.2.4.2. 100-250 KW
6.2.4.3. Above 250 KW
6.2.5. By Charging Station
6.2.5.1. AC EV Charging Station
6.2.5.2. DC EV Charging Station
6.2.6. By Country
6.2.6.1. US
6.2.6.2. Canada
6.2.6.3. Mexico
6.2.7. Price-Point Analysis
6.2.8. Manufacturer & Distributor List (Top 5)
6.2.9. Company Market Share (Top 3-5)
6.2.10. Economic Impact Study on North America Electric Vehicle Market
7. Europe Electric Vehicle Market Overview
7.1. Europe Electric Vehicle Market Size & Forecast, 2016-2027
7.1.1. Demand
7.1.1.1. By Value (USD Million)
7.1.2. Consumption
7.1.2.1. By Volume (Thousands Unit)
7.1.3. Supply/Production
7.1.3.1. By Volume (Thousands Unit)
7.2. Europe Electric Vehicle Market Share & Forecast, 2016-2027
7.2.1. By Vehicle Type
7.2.1.1. Passenger Cars
7.2.1.2. Two-Wheeler
7.2.1.3. Three Wheeler
7.2.1.4. Commercial Vehicles
7.2.2. By Vehicle Class
7.2.2.1. Mid-priced
7.2.2.2. Luxury
7.2.3. By Propulsion Type
7.2.3.1. Battery Electric Vehicle (BEV)
7.2.3.2. Fuel Cell Electric Vehicle (FCEV)
7.2.3.3. Plug-In Hybrid Electric Vehicle (PHEV)
7.2.3.4. Hybrid Electric Vehicle (HEV)
7.2.4. By Power Output
7.2.4.1. Less Than 100 KW
7.2.4.2. 100-250 KW
7.2.4.3. Above 250 KW
7.2.5. By Charging Station
7.2.5.1. AC EV Charging Station
7.2.5.2. DC EV Charging Station
7.2.6. By Country
7.2.6.1. Germany
7.2.6.2. UK
7.2.6.3. France
7.2.6.4. Italy
7.2.6.5. Rest of Europe
7.2.7. Price-Point Analysis
7.2.8. Manufacturer & Distributor List (Top 5)
7.2.9. Company Market Share (Top 3-5)
7.2.10. Economic Impact Study on Europe Electric Vehicle Market
8. Asia Pacific Electric Vehicle Market Overview
8.1. Asia Pacific Electric Vehicle Market Size & Forecast, 2016-2027
8.1.1. Demand
8.1.1.1. By Value (USD Million)
8.1.2. Consumption
8.1.2.1. By Volume (Thousands Unit)
8.1.3. Supply/Production
8.1.3.1. By Volume (Thousands Unit)
8.2. Asia Pacific Electric Vehicle Market Share & Forecast, 2016-2027
8.2.1. By Vehicle Type
8.2.1.1. Passenger Cars
8.2.1.2. Two-Wheeler
8.2.1.3. Three Wheeler
8.2.1.4. Commercial Vehicles
8.2.2. By Vehicle Class
8.2.2.1. Mid-priced
8.2.2.2. Luxury
8.2.3. By Propulsion Type
8.2.3.1. Battery Electric Vehicle (BEV)
8.2.3.2. Fuel Cell Electric Vehicle (FCEV)
8.2.3.3. Plug-In Hybrid Electric Vehicle (PHEV)
8.2.3.4. Hybrid Electric Vehicle (HEV)
8.2.4. By Power Output
8.2.4.1. Less Than 100 KW
8.2.4.2. 100-250 KW
8.2.4.3. Above 250 KW
8.2.5. By Charging Station
8.2.5.1. AC EV Charging Station
8.2.5.2. DC EV Charging Station
8.2.6. By Country
8.2.6.1. China
8.2.6.2. India
8.2.6.3. Japan
8.2.6.4. Australia
8.2.6.5. Rest of Asia Pacific
8.2.7. Price-Point Analysis
8.2.8. Manufacturer & Distributor List (Top 5)
8.2.9. Company Market Share (Top 3-5)
8.2.10. Economic Impact Study on Asia Pacific Electric Vehicle Market
9. South America Electric Vehicle Market Overview
9.1. South America Electric Vehicle Market Size & Forecast, 2016-2027
9.1.1. Demand
9.1.1.1. By Value (USD Million)
9.1.2. Consumption
9.1.2.1. By Volume (Thousands Unit)
9.1.3. Supply/Production
9.1.3.1. By Volume (Thousands Unit)
9.2. South America Electric Vehicle Market Share & Forecast, 2016-2027
9.2.1. By Vehicle Type
9.2.1.1. Passenger Cars
9.2.1.2. Two-Wheeler
9.2.1.3. Three Wheeler
9.2.1.4. Commercial Vehicles
9.2.2. By Vehicle Class
9.2.2.1. Mid-priced
9.2.2.2. Luxury
9.2.3. By Propulsion Type
9.2.3.1. Battery Electric Vehicle (BEV)
9.2.3.2. Fuel Cell Electric Vehicle (FCEV)
9.2.3.3. Plug-In Hybrid Electric Vehicle (PHEV)
9.2.3.4. Hybrid Electric Vehicle (HEV)
9.2.4. By Power Output
9.2.4.1. Less Than 100 KW
9.2.4.2. 100-250 KW
9.2.4.3. Above 250 KW
9.2.5. By Charging Station
9.2.5.1. AC EV Charging Station
9.2.5.2. DC EV Charging Station
9.2.6. By Country
9.2.6.1. Brazil
9.2.6.2. Argentina
9.2.6.3. Rest of South America
9.2.7. Price-Point Analysis
9.2.8. Manufacturer & Distributor List (Top 5)
9.2.9. Company Market Share (Top 3-5)
9.2.10. Economic Impact Study on South America Electric Vehicle Market
10. Middle East & Africa Electric Vehicle Market Overview
10.1. Middle East & Africa Electric Vehicle Market Size & Forecast, 2016-2027
10.1.1. Demand
10.1.1.1. By Value (USD Million)
10.1.2. Consumption
10.1.2.1. By Volume (Thousands Unit)
10.1.3. Supply/Production
10.1.3.1. By Volume (Thousands Unit)
10.2. Middle East & Africa Electric Vehicle Market Share & Forecast, 2016-2027
10.2.1. By Vehicle Type
10.2.1.1. Passenger Cars
10.2.1.2. Two-Wheeler
10.2.1.3. Three Wheeler
10.2.1.4. Commercial Vehicles
10.2.2. By Vehicle Class
10.2.2.1. Mid-priced
10.2.2.2. Luxury
10.2.3. By Propulsion Type
10.2.3.1. Battery Electric Vehicle (BEV)
10.2.3.2. Fuel Cell Electric Vehicle (FCEV)
10.2.3.3. Plug-In Hybrid Electric Vehicle (PHEV)
10.2.3.4. Hybrid Electric Vehicle (HEV)
10.2.4. By Power Output
10.2.4.1. Less Than 100 KW
10.2.4.2. 100-250 KW
10.2.4.3. Above 250 KW
10.2.5. By Charging Station
10.2.5.1. AC EV Charging Station
10.2.5.2. DC EV Charging Station
10.2.6. By Country
10.2.6.1. Saudi Arabia
10.2.6.2. UAE
10.2.6.3. South Africa
10.2.6.4. Rest of Middle East & Africa
10.2.7. Price-Point Analysis
10.2.8. Manufacturer & Distributor List (Top 5)
10.2.9. Company Market Share (Top 3-5)
10.2.10. Economic Impact Study on Middle East & Africa Electric Vehicle Market
11. Competitor Analysis
11.1. Company Description
11.2. Financial Analysis
11.3. Key Products
11.4. Key Management Personnel
11.5. Contact Address
11.6. SWOT Analysis
11.7. Company Profile
11.7.1. General Motors
11.7.2. Nissan Motor
11.7.3. Tesla Motor
11.7.4. Toyota
11.7.5. BYD
11.7.6. Daimler AG
11.7.7. Mitsubishi Motors Corporation
11.7.8. Renault S.A.
11.7.9. Smith Electric Vehicles
11.7.10. Volkswagen
11.7.11. BMW
11.7.12. Ford
11.7.13. Volvo
11.7.14. Dailmer
11.7.15. Hyundai
11.7.16. Honda
11.7.17. Continental AG
11.7.18. Energica Motor Company SpA
11.7.19. Other Prominent Players
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