Electric Vehicle Market is expected to reach 551.16 Billion by 2026 from 122.38 Billion in 2017 at CAGR of 18.2 %
(Detailed analysis of the market CAGR is provided in the report).
Electric vehicles are working on batteries via electric motors in order to transport machines for passengers as well as goods. 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, etc. Globally, the new registrations of electric cars increased by 75% from 2016 to 2017. Tesla Motors, Inc. have added Model S, introduced on June 22, 2012, the fastest electric car to the global automotive fleet and propelled the market to the next level.
The crucial factors for rise in electrical vehicle market worldwide are the initiatives taken by various governments in recent period to reduce carbon emission by setting the exact deadlines to ban the petrol and diesel vehicles.
1. UK has decided to have six central streets restricted access to non-zero emissions cars Zero Emissions Zone (ZEZ) From 2020 and this will expand to the entire U.K. region between 2025 and 2040
2. “Indian government is planning to become a 100 percent electric vehicle nation within 14 years” - Piyush Goyal (India’s Power Minister)
3. Paris to ban all petrol and diesel cars by 2030 - Christophe Najdovski (transport official of Paris City)
Government regulations to reduce the amount of greenhouse gases emitted by vehicles, high fuel efficiency offered by the electric vehicles and soundless operation of the electric vehicles are trending the overall Electric Vehicle market. However, Electric vehicles provide excellent torque at low speeds but its performance drops at higher speed in comparison with conventional vehicles, this difference in performance will restrain the market growth. The highest revenue generating region is APAC in 2017; followed by North America. APAC is estimated to grow at one of the highest rate during 2017–2026. In Asia-Pacific region China is expected to register the highest growth.
Key Highlights:
• Assessment of market definition along with the identification of key players and analysis of their strategies to determine the competitive outlook of the market, opportunities, drivers, restraints and challenges for this market during the forecast period
• Complete quantitative analysis of the industry from 2017 to 2026 to enable the stakeholders to capitalize on the prevailing market opportunities
• In-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chain
• Electric Vehicle market analysis and comprehensive segmentation with respect to the type, vehicle type, and geography to assist in strategic business planning
• Electric Vehicle market analysis and forecast for five major geographies North America, Europe, Asia pacific, Middle East & Africa, Latin America and their key regions
Research Methodology
Research methodology used in this report contains various secondary sources including directories such as Society of Manufacturers of Electric Vehicles, National Institute of Standards and Technology (NIST), International Energy Agency (IEA), Institute of Electrical and Electronics Engineers (IEEE). Bloomberg, Hoovers, Factiva are some of the sites that are being referred to gain insights about Electric Vehicle market. Experts from top manufacturing companies along with other stakeholders have been considered. This is done to validate and collect critical information for evaluating trends related to this market during the forecast period. Top-down and bottom-up approaches have been used to estimate the global and regional size of this market. Data triangulation techniques along with other comparative analysis are also used to calculate the exact size of the market globally.
Key Players in the Electric Vehicle Market Are:
• BMW Group
• Telsa
• Toyota Motor Corporation
• Nissan Motor Corporation
• Volkswagen AG
• General Motors
• Daimler AG
• Energica Motor Company S.P.A
• Ford Motor Company
• . BYD Company Motors
Key Target Audience:
• Research and Consulting Firms as well as Venture capitalists and startup companies
• solutions providers and Component suppliers
• Software, technology providers and Electric Vehicle Market Investors
• Component and device suppliers and distributors
• Government , Legislative and Regulatory Bodies
• Associations, organizations, forums, and alliances related to transportation industries
• Traders and Stakeholders Operating In the Sector
• Electric Vehicle related service providers
Scope of the Report: Research report categorizes the Electric Vehicle market based on type, vehicle type, and geography (region wise). Market size by value is estimated and forecasted with the revenues of leading companies operating in the Electric Vehicle market with key developments in companies and market trends
Electric Vehicle, By Type
• Battery Electric Vehicle
• Hybrid Electric Vehicle
• Plug-In Hybrid Electric Vehicle
Electric Vehicle, By Vehicle Type
• Two Wheeler
• Passenger Car
• Commercial Vehicle
o Light Commercial Vehicle
o Heavy Commercial Vehicle
Electric Vehicle Market
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