Electric Vehicle Market
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The electric vehicle market is projected to grow at a significant rate during the forecast period. Investments made by governments across the globe to increase the adoption of electric vehicles, creating opportunities for OEMs to expand their revenue stream and geographical presence.
The mid-priced segment is expected to grow at the highest CAGR during the forecast period. In the Asia Pacific region, China is one of the leading countries for mid-priced vehicles. Companies such as BYD, Smart, and Great Wall Motors are manufacturing comparatively less expensive automobiles.
FCEV segment is expected to grow at the highest CAGR during the forecast period. FCEVs have better fuel economy and can travel around 300-400 miles with a full fuel tank. The refueling time for fuel cell powered vehicles is about 3 to 5 minutes. This makes FCEVs an ideal option for transportation on definite or fixed routes. However, the availability of infrastructure such as hydrogen refueling stations, hydrogen production facilities, and supporting fuel cell technology is minimal worldwide due to the substantial cost of fuel cell stack and system.
Asia Pacific market is expected to register the fastest growth during the forecast period. This region has a strong presence of EV manufacturing OEMs such as BYD, BAIC, SAIC, and Geely, among others. Moreover, the region has high technology adoption rate. The increasing demand for reducing carbon emission and developing more advanced and fast charging stations are expected to propel the market growth.
Key Market Players include Tesla (US), BYD (China), BMW (Germany), Volkswagen (Germany), and Nissan (Japan).
2. Research Methodology
Limitation and Assumptions
3. Executive Overview
4. Market Overview
5. Electric Vehicle Market, By Vehicle Type
6. Electric Vehicle Market, By Charging Point Type
7. Electric Vehicle Market, By Vehicle Class
8. Electric Vehicle Market, By Propulsion Type
Fuel Cell Electric Vehicle
Hybrid Electric Vehicle
Battery Electric Vehicle
Plug-In Hybrid Electric Vehicle
9. Electric Vehicle Market, By Component
Battery Cells & Packs
10. Electric Vehicle Market, By Region
Rest of Europe
Rest of APAC
Rest of Middle East
Rest of the World
11. Company Profiles
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