PUBLISHER: BCC Research | PRODUCT CODE: 1107688
PUBLISHER: BCC Research | PRODUCT CODE: 1107688
The global electric vehicles and fuel cell vehicles market should reach $2.5 trillion by 2027 from $816.5 billion in 2022 at a compound annual growth rate (CAGR) of 25.0% for the forecast period of 2022 to 2027.
The North American electric vehicles and fuel cell vehicles market is expected to grow from $147.3 billion in 2022 to $442.4 billion in 2027 at a CAGR of 24.6% for the forecast period of 2022 to 2027.
The Asia-Pacific electric vehicles and fuel cell vehicles market is expected to grow from $333.0 billion in 2022 to $1.1 trillion in 2027 at a CAGR of 27.0% for the forecast period of 2022 to 2027.
After decades of expensive development and false starts, the world is finally ready for EVs. In this report, the term "electric vehicles" includes commercial approaches such as pure battery-powered, plug-in hybrid, hybrid internal combustion/battery, and FCVs. In addition to cars and trucks, this report also considers motorcycles, e-scooters and buses.
This report discusses three future scenarios, that is, pessimistic, consensus, and optimistic; forecasts are provided for the consensus scenario. Power source (lithium-ion batteries and fuel cells) sales and values are provided. A patent analysis and discussion of power sources and vehicle components describe the areas in which research is being performed and emphasizes intellectual property issues.
The values are expressed in billions of dollars ($ billions), and shipments/volumes are expressed in thousands of units. Values are based on the equivalent of wholesale, or the price charged to the retailer before mark-up. However, advanced EVs are sold below the actual manufacturing cost. This may be due to regulatory compliance or the desire to establish a market before the economics of scale take hold. The cost to consumers may be reduced considerably when government subsidies or possible tax breaks are considered in the dealer price.
As defined by BCC Research for this report, EVs and FCVs include the following -
Specific types of vehicles using these batteries include -
BCC Research analyzed each major EV technology, determined its current market status, examined its impact on future markets, and uses this analysis to present growth forecasts over the next five years. Technological issues, including the latest trends, are assessed and discussed, as are the industry's current and likely regulatory environments.
BCC Research analyzed the industry worldwide regarding the manufacturing and deploying technologies or products. For the most relevant and available EVs, BCC Research examined the role of government both in regulating the industry and supporting electric vehicle & fuel cell vehicles through promotional incentives. The report discusses recent trends and sales and provides industry overviews and market assessments for leading EV technology. Estimated values used are based on manufacturers' total revenues.
Regional and country-level markets are segmented and analyzed by configuration and application. The report also covers the impact of the COVID-19 pandemic. The market sizes and estimations are provided regarding revenue, with 2021 as the base year; market forecasts will be given for 2022 to 2027.
Report Includes -
Figure A : Market Research Methodology Applied for the Global EV Market report