The global Electric Vehicles (EVs) market size reached USD 238.67 Billion in 2021 and is expected to register a revenue CAGR of 22.2% during the forecast period, according to the latest analysis by Emergent Research. The increasing need for reducing dependency on imported oil and other fossil fuels is a major factor creating higher demand for EVs and thus, driving market revenue growth.
The Electric Vehicles market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Electric Vehicles market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Electric Vehicles market.
Claim Your FREE Sample Copy with Table of content@ https://www.emergenresearch.com/request-sample/79
The leading market contenders listed in the report are:
Volkswagen Group, Tesla Motors, BYD Company Ltd., Ford Motor Company, Nissan Motor Company, Toyota Motor Corporation, Daimler AG, BMW, Mitsubishi Motors Corporation, and Hyundai
Some Key Highlights From the Report
- The increasing adoption of BEVs is attributed to lower charging costs. Electricity and cost required to charge BEVs are approximately 40% less compared to the cost of petrol needed for same-sized vehicles. Additionally, the low maintenance costs of BEVs are another benefit. BEVs consist of fewer moving components compared to conventional petrol and diesel-powered vehicles and this facilitates easy, cheap, and less frequent servicing requirements as compared to conventional vehicles.
- The commercial vehicles segment is expected to register a robust revenue growth rate over the forecast period. The adoption of EVs for commercial purposes is increasing due to rising fuel prices and incentives offered by governments of various countries across the globe. For instance, in India, state and central governments have announced incentives and tax rebates to promote the adoption of EVs. Additionally, major e-commerce companies are rapidly using EVs as delivery fleets and this factor is driving adoption of commercial EVs.
- Market in Asia Pacific is expected to register rapid revenue growth rate during the forecast period, attributable to high sales of BEVs in countries in this region, especially in China. Additionally, presence of various players investing in development of advanced technologies in countries such as South Korea, coupled with large EV production facilities in China and Japan are expected to drive revenue growth of the market in the region.
The research study examines historic data from 2018 and 2020 to draw forecasts until 2030. The timeline makes the report an invaluable resource for readers, investors, and stakeholders looking for key insights in readily accessible documents with the information presented in the form of tables, charts, and graphs.
The report bifurcates the Electric Vehicles market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Emergen Research has segmented the global EVs market on the basis of product, vehicle type, vehicle class, top speed, vehicle drive, charging station, and region:
Product Outlook (Revenue, USD Million; 2019–2030)
- Battery Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Fuel Cell Electric Vehicle
Vehicle Type Outlook (Revenue, USD Million; 2019–2030)
- Commercial Vehicles
- Passenger Cars
Vehicle Class Outlook (Revenue, USD Million; 2019–2030)
Top Speed Outlook (Revenue, USD Million; 2019–2030)
- Less Than 125 MPH
- More Than 125 MPH
Vehicle Drive Outlook (Revenue, USD Million; 2019–2030)
- Front Wheel Drive
- Rear Wheel Drive
- All Wheel Drive
Charging Station Outlook (Revenue, USD Million; 2019–2030)
- Level 1
- Level 2
- Level 3
To Visit Full Report & Table of Contents Electric Vehicles Market: https://www.emergenresearch.com/industry-report/electric-vehicles-market
The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key reasons to buy the Global Electric Vehicles Market report:
- The latest report comprehensively studies the global Electric Vehicles market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products & services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise.