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Global Electric Vehicle Market: By Type: Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle; By Vehicle Type: Two-Wheeler, Passenger Car, Commercial Vehicles, Heavy Commercial Vehicles; Regional Analysis; Historical Market and Forecast (2016-2026); Competitive Landscape; Industry Events and Developments

Global Electric Vehicle Market Outlook

The global electric vehicle market volume in 2020 was estimated to be 3.25 million units. The electric vehicle market is projected to reach 10.1 million units by 2026, growing at a CAGR of 20.75% between 2021 and 2026.

 

Electric vehicles are either operated by a collector system by electricity from the deployment of charging stations or can be powered by self-charging tools such as regenerative braking systems, turbochargers, and others.

 

Global Electric Vehicle Market

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Pure electric vehicles and hybrid cars in Norway accounted for 53% of all new car sales in 2018 as compared to 42% in 2017, according to the Norwegian Road Federation, a public road transportation agency in Norway. Norway’s parliament has set a resolution target of zero emissions for all cars sold by 2024, which is expected to boost the growth of the electric vehicle market.

 

Properties and Applications

An electric vehicle requires one or more electric motors for propulsion. It is also referred to as an electric drive vehicle. Electricity can be used to drive electric battery vehicles as a transportation fuel. The market for electric vehicles can be categorised by segments such as type and vehicle type.

 

Global Electric Vehicle Market by Type

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The industry can be broadly categorised on the basis of its type into:

  • Battery Electric Vehicle
  • Hybrid Electric Vehicle
  • Plug-in Hybrid Electric Vehicle

The industry can be divided based on its vehicle type as:

  • Two-Wheeler
  • Passenger Car
  • Commercial Vehicles
  • Heavy Commercial Vehicles (HCVs)
  • Buses
  • Trucks

The EMR report looks into the regional electric vehicle markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.

 

Global Electric Vehicle Market by Region

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Market Analysis

The demand for electric vehicles is powered by the increased demand for vehicles that are fuel-efficient and have high-performance and low emission. The rising trend of vehicle emission reduction due to strict rules and regulations in several countries and the development of public charging infrastructure in China, France, Norway, and other developed countries is accelerating the electric vehicle market growth. In addition, technological advances in electric vehicles and aggressive government initiatives are expected in the future to unfold multiple prospects for the growth of the electric vehicle industry participants, such as system integrators, vehicle manufacturers, engine manufacturers, and component suppliers. High electric vehicle manufacturing costs and low fuel efficiency and serviceability, however, may hinder the growth of the electric vehicle market.

 

Competitive Landscape

The report presents a detailed analysis of the following key players in the global electric vehicle market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Tesla, Inc. (NASDAQ: TSLA)
  • SAIC Motor Corporation Limited 
  • BYD Company Ltd. 
  • Toyota Motor Corporation 
  • Beijing Automobile Co., Ltd.
  • Dongfeng Motor Group Co., Ltd. 
  • Others 

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Vehicle Type, Region
Breakup by Type Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle
Breakup by Vehicle Type Two-Wheeler, Passenger Car, Commercial Vehicles, Heavy Commercial Vehicles (HCVs)
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Tesla, Inc. (NASDAQ: TSLA), SAIC Motor Corporation Limited (SHA: 600104),
BYD Company Ltd. (SHE: 002594), Toyota Motor Corporation (TYO: 7203),
Beijing Automobile Co., Ltd., Dongfeng Motor Group Co., Ltd. (HKG: 0489), Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
    1.1    Objectives of the Study
        1.1.1    Research Objective
        1.1.2    Key Findings of the Report
2    Research Methodology
    2.1    Data Extraction
    2.2    Data Corroboration
    2.3    Market Structure
    2.4    Assumptions
    2.5    Market Models
3    Introduction
    3.1    Market Outlook
    3.2    Market Scope and Segmentation
    3.3    Additional Insights
4    Executive Summary
    4.1    Key Market Developments
    4.2    Market Analysis
    4.3    Key Players
    4.4    Cost Structure
    4.5    Market Revenue and Growth
5    Market Dynamics
    5.1    Market Driver Analysis
    5.2    Market Restraint Analysis
    5.3    Industry Challenges
    5.4    Industry Opportunities
6    Electric Vehicle Market Analysis
    6.1    Electric Vehicle Historical Market (2016-2020) & Forecast (2021-2026)
    6.2    Electric Vehicle Market Breakup by Type
        6.2.1    Battery Electric Vehicle
        6.2.2    Hybrid Electric Vehicle
        6.2.3    Plug-in Hybrid Electric Vehicle
    6.3    Electric Vehicle Market Breakup by Type: Historical Market (2016-2020) & Forecast (2021-2026)
        6.3.1    Battery Electric Vehicle
        6.3.2    Hybrid Electric Vehicle
        6.3.3    Plug-in Hybrid Electric Vehicle 
    6.4    Electric Vehicle Market Breakup by Vehicle Type
        6.4.1    Two-Wheeler
        6.4.2    Passenger Car
        6.4.3    Commercial Vehicles
        6.4.4    Heavy Commercial Vehicles (HCVs)
            6.4.4.1     Buses
            6.4.4.2    Trucks
    6.5    Electric Vehicle Market Breakup by Vehicle Type: Historical Market (2016-2020) & Forecast (2021-2026)
        6.5.1    Two-Wheeler
        6.5.2    Passenger Car
        6.5.3    Commercial Vehicles
        6.5.4    Heavy Commercial Vehicles (HCVs)
            6.5.4.1     Buses
            6.5.4.2    Trucks 
    6.6    Electric Vehicle Market by Region
        6.6.1    North America
            6.6.1.1    United States of America
            6.6.1.2    Canada
        6.6.2    Europe
            6.6.2.1    Germany
            6.6.2.2    United Kingdom
            6.6.2.3    France
            6.6.2.4    Italy
            6.6.2.5    Others
        6.6.3    Asia Pacific
            6.6.3.1    China
            6.6.3.2    Japan
            6.6.3.3    India
            6.6.3.4    ASEAN
            6.6.3.5    Others
        6.6.4    Latin America
            6.6.4.1    Brazil
            6.6.4.2    Argentina
            6.6.4.3    Mexico
            6.6.4.4    Others
        6.6.5    Middle East & Africa
            6.6.5.1    Saudi Arabia
            6.6.5.2    United Arab Emirates
            6.6.5.3    Nigeria
            6.6.5.4    South Africa
            6.6.5.5    Others
    6.7    Electric Vehicle Market by Region: Historical Market (2016-2020) & Forecast (2021-2026)
        6.7.1    North America
            6.7.1.1    United States of America
            6.7.1.2    Canada
        6.7.2    Europe
            6.7.2.1    Germany
            6.7.2.2    United Kingdom
            6.7.2.3    France
            6.7.2.4    Italy
            6.7.2.5    Others
        6.7.3    Asia Pacific
            6.7.3.1    China
            6.7.3.2    Japan
            6.7.3.3    India
            6.7.3.4    ASEAN
            6.7.3.5    Others
        6.7.4    Latin America
            6.7.4.1    Brazil
            6.7.4.2    Argentina
            6.7.4.3    Mexico
            6.7.4.4    Others
        6.7.5    Middle East & Africa
            6.7.5.1    Saudi Arabia
            6.7.5.2    United Arab Emirates
            6.7.5.3    Nigeria
            6.7.5.4    South Africa
            6.7.5.5    Others
7    SWOT Analysis
    7.1    Overview
    7.2    Strengths
    7.3    Weaknesses
    7.4    Opportunities
    7.5    Threats
8    Porter’s Five Forces Analysis
    8.1    Overview
    8.2    Buyer’s Power
    8.3    Supplier’s Power
    8.4    New Entrants
    8.5    Degree of Rivalry
    8.6    Substitutes
9    Competitive Landscape & Supplier Analysis
    9.1    Tesla, Inc. (NASDAQ: TSLA)
        9.1.1    Company Overview
        9.1.2    Financial Analysis
    9.2    SAIC Motor Corporation Limited (SHA: 600104)
        9.2.1    Company Overview
        9.2.2    Financial Analysis
    9.3    BYD Company Ltd. (SHE: 002594)
        9.3.1    Company Overview
        9.3.2    Financial Analysis
    9.4     Toyota Motor Corporation (TYO: 7203)
        9.4.1    Company Overview
        9.4.2    Financial Analysis
    9.5     Beijing Automobile Co., Ltd.
        9.5.1    Company Overview
        9.5.2    Financial Analysis
    9.6     Dongfeng Motor Group Co., Ltd. (HKG: 0489)
        9.6.1    Company Overview
        9.6.2    Financial Analysis
    9.7    Others
10    Industry Events and Developments

Additional Customisations Available:

1    Cost Analysis 
    1.1    Land, Location and Site Development
    1.2    Construction
    1.3    Plant Machinery
    1.4    Cost of Raw Material
    1.5    Packaging
    1.6    Transportation
    1.7    Utilities
    1.8    Manpower
    1.9    Other Capital Investment

Key Questions Answered in the Report

In 2020, the global electric vehicle market attained a volume of nearly 3.25 million units.

The market is projected to grow at a CAGR of 20.75% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about 10.1 million units by 2026.

The major drivers of the industry, such as the increasing environmental concern, increasing urbanisation, stringent government regulations regarding vehicular emissions, rising demand from the developing regions, and the growing technological advancements, are expected to aid the market growth.

The key market trend guiding the growth of the industry include the growing R&D activities by the key players to develop more efficient and affordable range of electric vehicles.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Battery, hybrid, and plug-in hybrid electric vehicles are the leading types of electric vehicle in the market.

The significant vehicle types in the industry include two-wheeler, passenger car, commercial vehicles, and heavy commercial vehicles (HCVs).

The major players in the industry are Tesla, Inc., SAIC Motor Corporation Limited, BYD Company Ltd., Toyota Motor Corporation, Beijing Automobile Co., Ltd., and Dongfeng Motor Group Co., Ltd., among others.

Analyst Review

The global electric vehicle market attained a volume of 3.25 million units in 2020, driven by the growing awareness regarding environment and favourable government initiatives. Aided by the growing research and development activities, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 20.75%. The market is projected to reach 10.1 million units by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the industry can be segmented into battery, hybrid, and plug-in hybrid electric vehicles. On the basis of vehicle type, the industry is divided into two-wheeler, passenger car, commercial vehicles, and heavy commercial vehicles (HCVs). The major regional markets for electric vehicle are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Tesla, Inc., SAIC Motor Corporation Limited, BYD Company Ltd., Toyota Motor Corporation, Beijing Automobile Co., Ltd., Dongfeng Motor Group Co., Ltd., and others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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