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Electric Vehicle Overview:
Electrical Vehicles (EV) Market is determined to register 26,951,318 units by 2030 from 3,269,671 units in 2019, developing at a growth rate of about 21.1% over the conjecture time frame.
Electric vehicle functions with the support of electricity that is provided by off-vehicle sources, or a self-contained battery, solar panels, or an electrical generator to transform fuel to power. EVs have expanded their applications from regular road and rail vehicles to underwater vessels, aircraft, and spacecraft in recent years.
According to the recent studies of International Energy Agency (IEA), electric vehicles are supposed to record around 40% of all the vehicle sales by the end of 2040. Also, electric bus markers in China have acquired contracts in European nations, wherein these electric buses are having high demand. Furthermore, interest for electric vehicles is offering lucrative options for global automobile manufacturers.
Recent Developments:
Drivers and Restraints of Electric Vehicle Market:
Drivers:
The governments of various countries have calculated stringent CO2 emission norms that have raised the interest for electric vehicles. However, the governments are supplying incentives and subsidies to encourage EV sales. Extensive funding from vehicle makers is deemed to cater to the augmenting need for EVs and play a crucial part in the evolution of the electrical vehicle market. The use of electric vehicles is aimed to decline the fossil fuels’ utilization. Also, they need relatively less maintenance and functional costs than conventional vehicles. In some developments have shown an incredible increase in vehicle range on one charge. In addition, electric vehicle makers are now focusing on home charging options with every sale of these vehicles, adding to the comfort of consumers. Government norms in the market in terms of use of EVs are driving the rise of EV models by various enterprises. The number of EV models launched by various vehicle companies is expanding rapidly.
Restraints:
The implementation of an universal charging infrastructure is considered as a challenge to global players. There are multiple ways to increase the knowledge of consumers about charging infrastructure by endorsing interoperability, for both drivers and charging network providers.
Market Segmentation:
By Vehicle Type:
The commercial vehicle sector is likely to be the fastest-growing market. With the increasing implementation of electrical buses, especially in China and India, has resulted in the development of the electrical commercial vehicles. Several countries are presumed to exchange their existing fleet with electric buses. The augmenting trend of replacing fuel-based fleet with electric buses will support the development of electrical commercial vehicles over the outlook period. However, the expansion of e-commerce, logistics, and shared mobility will drive the expansion of electrical commercial vehicles over the same period.
By Propulsion Type:
When segmented on the idea of technology, the worldwide electric vehicles market was dominated by battery electric vehicles (BEV) during the calculated period, mainly due to the supply of a big number of BEV models and better government subsidies for production and sale.
By Components:
By Charging Station Type:
By Vehicle Class:
Among all the segments of electrical cars, the economy category is predicted to account for significant unit sales within the electric vehicles market during the projection period. This is due to the affordable prices of economy cars in relative to other categories. Also, medium-category cars are touted to record the rapid growth over the evaluated period.
The longer term of EVs is predicted to be bright and with time the worth of batteries, one among the foremost vital components in an EV, is reducing significantly which might make EVs cheaper. Mid-Rate cars have limited properties with less importance on properties like instrument cluster, infotainment and other costly features.
By Power Output:
Electric Vehicle Market Region wise analysis:
Marked Segmentation based on the region:
a. Middle East
b. Africa
Among all the regions, Europe is predicted to witness the fastest growth in the worldwide market during the determined period, mainly because of the mounting use of electrical cars in nations like Norway, Germany, and the U.K. Moreover, the rollout of several policies associated with electric cars and charging infrastructure, alongside the large incentives on the acquisition of electrical cars within the region, are expected to profit within the growth of the electric vehicles market. The Asia-Pacific region held the most important share in the electric vehicles market in 2016, and it's presumed to possess the dominating share over the assessed period. The region’s growth is especially driven by the large government support in sort of subsidies and incentives on electric cars and introduction of policies associated with vehicular emissions in countries like China and Japan.
Key Players of Market:
The Major players for electric vehicle market include:
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Electric Vehicle Market, By Vehicle
6.1.1 Passenger Car
6.1.2 Commercial Vehicle
6.1.3 Two Wheeler
6.1.4 Market Size Estimations & Forecasts (2019-2024)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Electric Vehicle Market, By Propulsion
6.2.1 BEV
6.2.2 FCEV
6.2.3 PHEV
6.2.4 HEV
6.2.5 Market Size Estimations & Forecasts (2019-2024)
6.2.6 Y-o-Y Growth Rate Analysis
6.2.7 Market Attractiveness Index
6.3 Electric Vehicle Market, By Component
6.3.1 Battery Cells And Packs
6.3.2 O-Board Charge
6.3.3 Infotainment
6.3.4 Electric Motor
6.3.5 Market Size Estimations & Forecasts (2019-2024)
6.3.6 Y-o-Y Growth Rate Analysis
6.3.7 Market Attractiveness Index
6.4 Electric Vehicle Market, By Charging Station
6.4.1 Normal Charging
6.4.2 Super Charging
6.4.3 Market Size Estimations & Forecasts (2019-2024)
6.4.4 Y-o-Y Growth Rate Analysis
6.4.5 Market Attractiveness Index
6.5 Electric Vehicle Market, By Vehicle Class
6.5.1 Mid-Priced
6.5.2 Economy
6.5.3 Luxury
6.5.4 Market Size Estimations & Forecasts (2019-2024)
6.5.5 Y-o-Y Growth Rate Analysis
6.5.6 Market Attractiveness Index
6.6 Electric Vehicle Market, By Power Output
6.6.1 Less than 100 KW
6.6.2 100-250 KW
6.6.3 Above 250 KW
6.6.4 Market Size Estimations & Forecasts (2019-2024)
6.6.5 Y-o-Y Growth Rate Analysis
6.6.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Vehicle
7.2.3 By Propulsion
7.2.4 By Component
7.2.5 By Charging Station
7.2.6 By Vehicle Class
7.2.7 By Power Output
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Vehicle
7.3.3 By Propulsion
7.3.4 By Component
7.3.5 By Charging Station
7.3.6 By Vehicle Class
7.3.7 By Power Output
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Vehicle
7.4.3 By Propulsion
7.4.4 By Component
7.4.5 By Charging Station
7.4.6 By Vehicle Class
7.4.7 By Power Output
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Vehicle
7.5.3 By Propulsion
7.5.4 By Component
7.5.5 By Charging Station
7.5.6 By Vehicle Class
7.5.7 By Power Output
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Vehicle
7.6.3 By Propulsion
7.6.4 By Component
7.6.5 By Charging Station
7.6.6 By Vehicle Class
7.6.7 By Power Output
8. Key Player Analysis
8.1 Tesla
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 BMW Group
8.3 Nissan Motor Corporation
8.4 Toyota Motor Corporation
8.5 Volkswagen AG
8.6 General Motors
8.7 Daimler AG
8.8 Energica Motor Company S.p.A.
8.9 BYD Company Motors
8.10 Ford Motor Company
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
Related Reports
Feb 2020
Feb 2020
Feb 2020
