Market Research Report
Electric Vehicle Industry with COVID-19 Impact Analysis, By Type, By Component, By Propulsion Type, and By Region - Size, Share & Forecast from 2021-2027- Updated
|Published by||AnalystView Market Insights||Product code||987615|
|Published||Content info||334 Pages
Delivery time: 2-3 business days
|Electric Vehicle Industry with COVID-19 Impact Analysis, By Type, By Component, By Propulsion Type, and By Region - Size, Share & Forecast from 2021-2027- Updated|
|Published: January 1, 2021||Content info: 334 Pages||
The global electric vehicle market was valued at USD 165.7 billion by 2019, growing with 22.8% CAGR during the forecast period, 2021-2027.
Rising sale of the electric vehicle due to surge in government subsidy and initiatives programs to promote the pollution-free environment with the help of green technology has impelled the electric vehicle market growth around the globe, For instance, according to the International Energy Agency in 2018, Electric vehicles especially electric passenger cars sale increased by 63% in 2018 which approximately reached to 5 million in 2018 due to surge in government subsidy and funding for the development and sale of the electric vehicles.
Further, the Asia-Pacific region is rapidly growing for the electric vehicles market owing to the implementation of government schemes and initiative funding have stipulated the market growth, For instance, as per the above-stated organization, China accounted for around 45% of electric cars on the road which is equal to the total of 2.3 million in 2018 compared to 39% increased in 2017. It created a massive demand for the growth of the electric vehicles market. However, high capital costs require for building the electric charging stations and require several efforts for improving infrastructure may hinder the market growth.
The electric vehicle market is segmented on the basis of vehicle type, component, propulsion type, and region.
Depending on the vehicle type, the global electric vehicle market is divided into passenger cars, commercial vehicles, two-wheelers, and others. Among these, the two-wheelers segment has the highest market share in 2020, this is primarily due to the increasing sale of the two-wheelers owing to a surge in the government schemes, subsidy & initiatives. For instance, according to the Society of Indian Automobile Manufacturers (SIAM), annual two-wheeler sales including electric two-wheelers have surpassed 20 million in 2018-19. Also as per the India Environment Portal Organization electric two and three-wheelers sale exceeded 300 million in 2018 globally.
Similarly, the passenger cars and commercial vehicles segment for the global electric vehicles market is increasing at a rapid pace owing to government initiatives and rising awareness about pollution-free vehicles with the surge in sales around the globe. For instance, as per the above-stated organization, globally more than 10 million electric vehicles are sold annually due to government spending and initiative programs. Also, as per the above-stated organization in 2018, electric buses sale is witnessing dynamic developments with more than 460 000 vehicles were sold globally. It created a massive demand for the growth of the electric vehicle market.
Based on the component, the global electric vehicle market is divided into infotainment systems, on-board charger, battery cells & packs, and others.
In terms of the propulsion type, the global electric vehicle market is divided into plug-in hybrid electric, battery electric, hybrid electric, and fuel cell electric vehicles. Of which, the battery electric vehicles segment has the highest market share in 2020, this is primarily due to increasing two-wheelers and three-wheelers sales around the globe.
In terms of the charging type, the global electric vehicle market is segmented into normal charging and supercharging. Among these, the normal charging segment has the highest market share in 2020, this is primarily due to increasing infrastructure development with a surge in government investment.
Several leading players are launching new electric vehicles for improving the user experience using advanced technologies such as AI, IoT, etc may create a huge opportunity for the growth of the electric vehicles market. For instance, on 11th Nov 2020, BMW AG a German luxury automaker launched an electric sport utility vehicle (SUV) named BMW iX, BMW iX has a driving range of 300 miles (480 km).
Key features of the study:
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL ELECTRIC VEHICLE MARKET KEY PLAYERS
BYD Company Motors
Ford Motor Company
Toyota Motor Corporation
Energica Motor Company S.p.A.
Nissan Motor Corporation
GLOBAL ELECTRIC VEHICLE MARKET, BY TYPE
GLOBAL ELECTRIC VEHICLE MARKET, BY COMPONENT
Battery Cells & Packs
GLOBAL ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE
Battery Electric Vehicles (BEVs)
Plug-In Hybrid Electric Vehicles (PHEVs)
Hybrid Electric Vehicles (HEVs)
Fuel Cell Electric Vehicles (FCEVs)
GLOBAL ELECTRIC VEHICLE MARKET, BY CHARGING TYPE
GLOBAL ELECTRIC VEHICLE MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA
List of Tables
List of Figures