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Global Automotive High Performance Electric Vehicles Market: By Drive Type: Plug-In Hybrid, Pure Electric; By Vehicle Type: Passenger Cars, Commercial Vehicles; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032
Global Automotive High Performance Electric Vehicles Market Outlook
The automotive high performance electric vehicles market size was valued at approximately USD 165.91 billion in 2023. The market is assessed to grow at a CAGR of 10.9% during 2024-2032, reaching a value of around USD 431.03 billion by 2032.
Key Trends in the Market
An electric vehicle is a vehicle that is powered by an electric motor and derives electricity from a battery. It can charge itself from an external source. High performance electric vehicles vary from conventional EVs in numerous ways, including their potential to travel over 150 miles on a single charge, high acceleration, and the capability to reach a speed of over 90 miles per hour with a rapid acceleration of 0 to 60 miles per hour, unlike EVs, which travels between 40 and 65 miles per hour.
Electric vehicles are considered to be cost-effective in the long run due to their benefits like government subsidies and tax redemption, easy maintenance, and reduced dependence on fuel or diesel as compared to internal combustion vehicles. The service requirement of an electric vehicle is also lower than conventional vehicles, which function on fuel or diesel.
- The growing adoption of electric and hybrid electric vehicles is positively influencing the automotive high performance electric vehicles market demand. Electric vehicles do not promote carbon emissions and rely heavily on electric batteries, eliminating the requirement for conventional fuels. In addition to this, high-performance EVs boast exceptional charging and battery capacities and deliver the same performance and exhilaration as internal combustion vehicles (ICs), boosting their adoption among environmentally conscious customers.
- The automotive high performance electric vehicles market growth can be attributed to growing investments in research and development (R&D) activities to enhance their battery efficiency, increase power output, and improve the overall performance of high-performance EVs.
- The development of advanced and superior high-performance electric vehicles by key players is also expected to propel the market growth in the forecast period. For instance, in November 2023, Hyundai Motor unveiled the N sport variant of its IONIQ 5 crossover SUV, its high-performance EV powered by dual motors producing 641 horsepower and boasting a speed of 162 mph.
Global Automotive High Performance Electric Vehicles Market Segmentation
Based on drive type, the market can be bifurcated into plug-in hybrid and pure electric. Based on vehicle type, the market can be divided into passenger cars and commercial vehicles. On the basis of region, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global automotive high performance electric vehicles market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Tesla Inc.
- BMW AG
- General Motors Company
- Volkswagen AG
- Bugatti Rimac Ltd
- BYD Co. Ltd.
- Nissan Motor Co., Ltd.
- Renault SA
- Kia Corp.
- Stellantis N.V. (Peugeot)
- Others
Market Share by Drive Type
As per the automotive high performance electric vehicles market analysis, plug-in hybrid electric vehicles, often abbreviated as PHEVs, use batteries to charge an electric motor and another fuel, such as gasoline to power an internal combustion engine (ICE). The vehicle initially runs on electric power and when the battery gets depleted, it automatically switches to an internal combustion engine.
In December 2023, Toyota Motor Corporation commenced sales of its all-new Crown Sport Plug-in Hybrid Electric Vehicle (PHEV) in Japan. The model offers a sporty and fun driving experience and is fitted with a large-capacity lithium-ion battery, hence combining environmental performance with the pleasure of driving.
Market Share by Region
The Asia Pacific represents a significant portion of the automotive high performance electric vehicles market share. China is one of the biggest players in the domain of electric vehicles, and the Chinese government offers financial subsidies and tax breaks for both EV producers and consumers. Currently, eight out of the top ten EV models sold in China are made by domestic companies, the country also exports EVs globally.
The presence of key players such as Hyundai, Kia, and BYD, among others, in the region is also aiding the market growth. Increasing research and development activities by key players to develop high-performance EVs with excellent range and battery life are also expected to fuel the market in the forecast period.
Competitive Landscape
Tesla Inc. was founded in 2003 and is headquartered in the US. This American multinational automotive and clean energy company has introduced different series of electric vehicles such as model S, model 3, model Y. The EVs come with potent chargers which are fast and convenient.
BMW AG is a German company and was founded in 1916. The company not only manufactures pure electric car but also plug-in hybrid, therefore expanding its customer base. Its products include BMW i4 M50 100% Electric, BMW i7 M70 xDrive 100% Electric, BMW M5 Sedan Plug-in Hybrid, and many others.
Volkswagen AG was founded in 1937 and is headquartered in Germany. The company’s EV structure is based on the new modular electric drive matrix (MEB), a vehicle architectonics that was developed primarily for electric drive. This architecture is special in nature as it allows space-saving insertion of a flat high-voltage battery in the underbody.
Other automotive high performance electric vehicles market players include General Motors Company, Bugatti Rimac Ltd., BYD Co. Ltd., Nissan Motor Co., Ltd., Renault SA, Stellantis N.V. (Peugeot), and Kia Cor, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Drive Type |
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| Breakup by Vehicle Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Automotive High Performance Electric Vehicles Market Analysis
8.1 Key Industry Highlights
8.2 Global Automotive High Performance Electric Vehicles Historical Market (2018-2023)
8.3 Global Automotive High Performance Electric Vehicles Market Forecast (2024-2032)
8.4 Global Automotive High Performance Electric Vehicles Market by Drive Type
8.4.1 Plug-In Hybrid
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Pure Electric
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Automotive High Performance Electric Vehicles Market by Vehicle Type
8.5.1 Passenger Cars
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Commercial Vehicles
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Automotive High Performance Electric Vehicles Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Automotive High Performance Electric Vehicles Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Automotive High Performance Electric Vehicles Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Automotive High Performance Electric Vehicles Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Automotive High Performance Electric Vehicles Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Automotive High Performance Electric Vehicles Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Tesla Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 BMW AG
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 General Motors Company
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Volkswagen AG
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Bugatti Rimac Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 BYD Co. Ltd.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Nissan Motor Co., Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Renault SA
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Kia Corp.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Stellantis N.V. (Peugeot)
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Automotive High Performance Electric Vehicles Market: Key Industry Highlights, 2018 and 2032
2. Global Automotive High Performance Electric Vehicles Historical Market: Breakup by Drive Type (USD Billion), 2018-2023
3. Global Automotive High Performance Electric Vehicles Market Forecast: Breakup by Drive Type (USD Billion), 2024-2032
4. Global Automotive High Performance Electric Vehicles Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
5. Global Automotive High Performance Electric Vehicles Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
6. Global Automotive High Performance Electric Vehicles Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Automotive High Performance Electric Vehicles Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Automotive High Performance Electric Vehicles Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Automotive High Performance Electric Vehicles Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Automotive High Performance Electric Vehicles Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Automotive High Performance Electric Vehicles Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Automotive High Performance Electric Vehicles Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Automotive High Performance Electric Vehicles Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Automotive High Performance Electric Vehicles Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Automotive High Performance Electric Vehicles Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Automotive High Performance Electric Vehicles Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Automotive High Performance Electric Vehicles Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Automotive High Performance Electric Vehicles Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 165.91 billion.
The market is estimated to grow at a CAGR of 10.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 431.03 billion by 2032.
The market is being driven by the growing demand for EVs with improved performance and the introduction of favourable government initiatives aimed at bolstering the adoption of EVs.
The key trends aiding the market expansion include surging investments in research and development of high performance electric vehicles and increasing launch of advanced high performance EVs by key players.
The major drive types are plug-in hybrid and pure electric.
The different vehicle types available in the market are passenger cars and commercial vehicles.
The major players in the market are Tesla Inc., BMW AG, General Motors Company, Volkswagen AG, Bugatti Rimac Ltd., BYD Co. Ltd., Nissan Motor Co., Ltd., Renault SA, Kia Cor, and Stellantis N.V. (Peugeot), among others.
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