Press Release
Press Release
Amid Ukraine-Russia crisis, our analysts and industry experts are closely monitoring the markets and working hard to identify, gather and timely deliver analysis of the impact of the situation and the impact that it has on various markets. All our reports are updated with the latest impact on the market before being sent out to our customers.
According to a new report by EMR titled, ‘Global Electric Vehicle Market Report and Forecast 2022-2027, the global electric vehicle reached a volume of around 3.25 million units in 2020. The market is likely to increase at a CAGR of 20.75% in the forecast period 2022-2027 to reach a volume of 10.1 million units by 2026.
The global electric vehicle market is rapidly growing due to the rising demand for sustainable transportation. Various governments' increasing commitment to a healthier environment has resulted in an increased demand for zero-emission vehicles. Developed countries, such as the United States, Germany, and the United Kingdom, actively promote the use of electric vehicles to minimize pollution increasing electric vehicle sales. With the growing use of electric buses, especially in China and India, the growth of the commercial electric sector has been growing. Various countries will replace their current fuel-based buses with electric busses. The rise of commercial electric vehicles is motivated by a growing trend to replace public transport fuelled by fossil fuels with electric buses.
The market is being driven by the growing innovations and product diversifications by the major players in the market. In April 2020, Tesla, Inc. (NASDAQ: TSLA), one of the leading players in the market, announced its longest-range electric vehicle. The company modified its models, Model S and Model X, to allow them to travel unparalleled distances without recharging. They broke their record for the production of the longest-range EVs on the road.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Market Analysis by Type, Vehicle Type, and Region:
Key Findings of the Report:
Key Offerings of the Report:
The primary key players in the global electric vehicle market include companies like Tesla, Inc. (NASDAQ: TSLA), Toyota Motor Corporation, BYD Motors Inc., General Motors, Volkswagen Group, SAIC Motor Corporation Limited, BMW AG, Mercedes-Benz Group AG, Nissan Motor Corporation, AB Volvo, Hyundai Motor Company, Ford Motor Company, Great Wall Motor Company Limited, Chery Automobile CoLtd, and Dongfeng Motor Company, among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.