Global Electric Vehicle Market size is Expected to Grow USD 359854.56 Million by the End of 2025 | Market Share, Trends, Growth, Analysis & Forecast - Valuates Reports
"The Global Electric Vehicle Market Size is expected to grow from USD 129671.56 Millions in 2018 to USD 359854.56 Millions by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 15.69%"
BANGALORE, India, Oct. 29, 2019 /PRNewswire/ -- ELECTRIC VEHICLE MARKET OVERVIEW :
Growing conventional fuel prices and their fading presence encourages the search for low-cost options. Demand for electric vehicles is driven by increased demand for fuel-efficient vehicles, high-performance, and low-emission. Furthermore, heavy investments from automakers in electric vehicles is one of the factors largely attributing to the growth of the Global Electric Vehicle Market.
The trend of vehicle emission reduction, owing to stringent laws and regulations is further expected to fuel the Electric Vehicle market growth.
FACTORS DRIVING THE GLOBAL ELECTRIC VEHICLE MARKET:
- Favorable government policies and subsidies
- Need for increased vehicle range per charge
- Heavy investments from automakers in electric vehicles
- Growing concerns over environmental pollution.
Some factors, however, such as the lack of charging infrastructure standardization can impede electric vehicle market growth. It is expected that the global electric vehicle industry will showcase opportunities such as the use of vehicle-to-grid charging stations for electric vehicle charging stations and electric vehicles powered by renewable energy.
REGION WISE ELECTRIC VEHICLE MARKET ANALYSIS:
- The Asia Pacific market, followed by Europe and North America, is anticipated to experience the highest development.
- European market is projected to experience steady growth, owing to a well-developed infrastructure for electric vehicles
- Asia Pacific market is the fastest due to the strong presence of major electric vehicle manufacturing OEMs
In the near future, due to strict regulations for building charging stations, limited range of electric vehicles, and high electric vehicle costs relative to ice vehicles, the Global Electric vehicle market may face potential growth challenges.
The key players on the electric vehicle market, however, are making regressive efforts to produce groundbreaking deals and benchmark approaches in the global market for electric vehicles.
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Segments in Global Electric Vehicle Market based on Installation Type
- Commercial
- Residential
Segments in Global Electric Vehicle Market based on Charging Infrastructure
- CCS
- Chademo
- Normal Charge
- Tesla Supercharger
- Type-2 (Iec 62196)
Segments in Global Electric Vehicle Market based on Charging Station Type
- Inductive Charging
- Normal Charging
- Super Charging
Segments in Global Electric Vehicle Market based on Component
- EV Battery Cells & Packs
- Infotainment System
- Instrument Cluster
- On-Board Charger
Segments in Global Electric Vehicle Market based on Power Output Type
- Level 1
- Level 2
- Level 3
Segments in Global Electric Vehicle Market based on Propulsion Type
- Battery Electric Vehicle (BEV)
- Fuel Cell Electric Vehicle (FCEV)
- Hybrid Electric Vehicle (HEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
Segments in Global Electric Vehicle Market based on Vehicle Type
- Agricultural Vehicles
- Buses & Coaches
- Forklift
- Port Vehicle, & Internal Container Handling Vehicle
- Heavy & Special Duty Truck
- Light Electric Vehicle
- Medium & Heavy Duty Vehicle
- Passenger Cars
"Rivian Automotive, Inc. the potential growing player for the Global Electric Vehicle Market"
The key players profiled in the Global Electric Vehicle Market are Rivian Automotive, Inc., Daimler AG, Bayerische Motoren Werke AG, Continental AG, BYD Auto Co., Ltd., Alcraft Motor Company Ltd, Ford Motor Company, KIA Motors Corporation, Hyundai Motor Company, Nissan Motor Co., Ltd., Volvo Car Corporation, Volkswagen AG, Honda Motor Company, Ltd., Tesla, Inc., and Toyota Motor Corporation.
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Research Methodology:
Electric Vehicle Market forecasting is based on a market model derived from market connectivity, dynamics, and identified influential factors around which assumptions about the market are made. These assumptions are enlightened by fact-bases, put by primary and secondary research instruments, regressive analysis and an extensive connect with industry people. Market forecasting derived from in-depth understanding obtained from future market spending patterns provides quantified insight to support your decision-making process. The interview is recorded, and the information gathered in put on the drawing board with the information collected through secondary research.
The electric vehicle market report provides insights on the following pointers:
- Electric vehicle Market Penetration: Provides comprehensive information on sulfuric acid offered by the key players in the Global Electric Vehicle Market
- Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and new product developments in the Global Electric Vehicle Market
- Electric vehicle Market Development: Provides in-depth information about lucrative emerging markets and analyzes the markets for the Global Electric Vehicle Market
- Electric vehicle Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments in the Global Electric Vehicle Market
- Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the Global Electric Vehicle Market
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The Electric Vehicle Market Report answers questions such as:
- What is the electric vehicle market size of Electric Vehicle market in the Global?
- What are the factors that affect the growth in the Global Electric Vehicle Market over the forecast period?
- What is the competitive position in the Global Electric Vehicle Market?
- Which are the best product areas to be invested in over the forecast period in the Global Electric Vehicle Market?
- What are the opportunities in the Global Electric Vehicle Market?
- What are the modes of entering the Global Electric Vehicle Market?
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