DUBLIN–(BUSINESS WIRE)–The “Global Electric Vehicle Market Outlook, 2025” report has been added to ResearchAndMarkets.com’s offering.
This report identifies and discusses recent developments in electric mobility across the globe. The market that was recorded at a value of USD 27.85 Billion in the year 2014 is anticipated to grow with a CAGR of over 30% in terms of volume through the forecasted period. This report not only serves with the facts, figures, and forecasts but also has a detailed study about the COVID-19 effect on the electric vehicle industry.
Electric vehicles use one or more electric motors or traction motors for propulsion. Electric vehicles are a battery electric vehicle (BEV) or a plug-in hybrid electric vehicle (PHEV). The BEV segment includes the vehicles that only use chemical energy stored in rechargeable batteries, with no secondary source of propulsion, while the PHEV segment considers whose battery can be recharged by plugging it into an external source of electric power, and by its on-board engine and generator. Globally, the BEV segment leads the market and is expected to reach over 80% in terms of volume, while the PHEV segment is to portray an anticipated CAGR of 36.03%, through the forecasted period.
The Asia Pacific market is expected to witness the fastest growth, followed by Europe and North America. The automotive industry in the countries such as China, Japan, and South Korea is inclined toward innovation, technology, and the development of the advanced electric vehicle. While Asia was contributed to a share of 61.34% by volume in 2019, Europe is expected to increase to a share of 28.04% by value by the end of the year 2025. On the other hand, the least contributing regions of Latin America and Middle East & Africa together would be contributing nothing over 3%.
The mid-priced vehicle class has limited features with less emphasis on expensive features, yet ruled the market with a share of over 70% in 2019. The small urban car will cost only USD 8,680 after incentives with a range of almost 200 miles. Companies are manufacturing comparatively less expensive vehicles, however, with the increase in the disposal income and government incentives, the market is likely to get inclined towards the luxury class segment which is expected to account for an approx share of 40% by end of the forecasted period. As the acknowledgment of commercial electric vehicles is increasing, the segment is likely to reach a market of over 800 Thousand Units by the end of 2025, while the passenger vehicle continues to lead the market. The market for an electric vehicle is potential given the longevity and price of the batteries.
Companies Mentioned
- Aiways Automobiles Corporative Limited
- Arrival Limited
- Ashok Leyland
- Beijing Automobiles Industry Holding Corporative Limited
- Bentley Motors Limited
- Blue Bird Corporation
- BMW Group
- BYD Company Motors
- Changsha Sunda New Energy Technology Limited
- Citroen
- Daimler AG
- Ford Motors
- General Motors
- Hyundai
- Irizar
- Lightening GT
- Micro Mobility
- MW Motors
- NFI
- Nikola Motor Company
- Nio
- Nissan Motor
- PoleStar
- Proterra
- Rimac Automobiles
- Rivian
- SAIC
- Scania
- Tata Motors
- Tesla
- Toyota Motor Corporation
- VDL
- Venturi
- Volkswagen
- Workhorse Group
- Yutong
- Zacua
- Zhejiang Geely
This report would help you answer the following questions:
1. What is the market size and forecast of the Global Electric Vehicle Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Electric Vehicle Market during the forecast period?
3. Which region outstands in the Global Electric Vehicle Market?
4. Which are the segments to invest in over the forecast period in the Global Electric Vehicle Market?
5. What is the competitive strategic window for opportunities in the Global Electric Vehicle Market?
6. What are the technology trends and regulatory frameworks in the Global Electric Vehicle Market?
7. What are the major company in the Global Electric Vehicle Market?
Key Topics Covered:
1 Executive Summary
2 Report Methodology
3 Global Electric Vehicles Market Outlook
3.1 Market Size
3.1.1 By Value
3.1.2 By Volume
3.2 Market Share
3.2.1 By Vehicle Type
3.2.2 By Propulsion Type (BEV & PHEV)
3.2.3 By Charging Type
3.2.4 By Vehicle Class (Mid-price & Luxury)
3.2.5 By Region
3.2.6 By Country
3.2.7 By Company
3.3 Global BEV Market Outlook
3.4 Global PHEV Market Outlook
4 North America Electric Vehicle Market Outlook
5 Europe Electric Vehicle Market Outlook
6 Asia Pacific Electric Vehicle Market Outlook
7 Latin America Electric Vehicle Market Outlook
8 Middle East and Africa Electric Vehicle Market Outlook
9 Market Dynamics
9.1 Key Drivers
9.2 Key Challenges
10 Market Trends and Developments
11 Competitive Landscape
12 Company Profile
13 Strategic Recommendations
14 Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/ewysj7
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