Electric Vehicle Market was valued at USD 280,235.49 million in 2021 and is expected to reach USD 1566,378.14 million by 2029, registering a CAGR of 24.00% during the forecast period of 2022-2029. Battery Electric Vehicles (BEVs) accounts for the largest propulsion type segment in the respective market owing to the availability of subsidies and support from the government. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis. Two key components are present in all-electric vehicle motor types. The stator, whose housing is attached to the chassis, is the stationary exterior casing of the motor. The rotor, which is the only spinning component, and functions similarly to a crankshaft as it distributes torque to a differential and the transmission.
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Key Takeaway
- By 2040, the Europe is expected to achieve 40% greenhouse gas reduction and net-zero by 2050
- EV sales increased by 80% in the United States in 2019
- Asia Pacific electric vehicle market was valued at USD 121.7 billion in 2021
- By propulsion type, the battery electric vehicles (BEV) accounted largest revenue share 66% in 2021
- The hybrid electric vehicle segment is expected to reach USD 301.67 billion by 2030 from valued at USD 77,581.7 million in 2021.
- The plug-in hybrid EV segment is expected to hit revenue USD 385,617 million from 2022 to 2030.
- The passenger car electric vehicle market was valued at USD 127,394 million in 2021 and is projected to hit at USD 598,735 million by 2030.
- The commercial vehicle EV market was valued at USD 47,351.9 million in 2021.
- The luxury EV market is projected to reach USD 441,273 million by 2030 from valued at USD 104,380 million in 2021.
The electric vehicle market growth is being driven by the growing fundings and investments by key market players. Ford had previously stated that it would invest $11.5 billion in electrifying its vehicle lineup between now and 2022. It recently claimed that it had upped its spending in driverless and electrified vehicles to help boost vehicle sales in the face of ongoing lockdowns. Mercedes-Benz also confirmed that, in addition to completely electric vehicles, it will release 25 new plug-in hybrid electric vehicles by 2025. Companies' diverse product offers have attracted a large number of customers, resulting in an expanding market for electric vehicles.
Highlight of Table of Content:
· Chapter 1: Market overview
· Chapter 2: Electric Vehicle Market Analysis
· Chapter 3: Regional analysis of the Electric Vehicle Market
· Chapter 4: Market segmentation based on types and applications
· Chapter 5: Revenue analysis based on types and applications
· Chapter 6: Market share
· Chapter 7: Competitive Landscape
· Chapter 8: Drivers, Restraints, Challenges, and Opportunities
· Chapter 9: Gross Margin and Price Analysis
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Some of the major players operating in the electric vehicle market are
- Ford Motor Company (US)
- General Motors (US)
- AUDI AG (Germany)
- Kia Motors Corporation (South Korea)
- Groupe Renault (France)
- Groupe PSA (France)
- SAIC Motor Corporation Limited (China)
- Tesla (US)
- Daimler AG (Germany)
Profound Questions Answered in this Report:
· What is the growth rate of various stages in the value chain of the industry?
· Which region has the highest growth rate and size of the emerging market by value in 2022?
· Who are the competitive players in Electric Vehicle Market?
· Which region has the largest share and degree of competition in the industry?
· What is the CAGR of the market during the forecast period 2022 to 2029?
· Which region is expected to hold the highest market share for the market?
· What is the main driver of the Electric Vehicle Market?
· What is sales volume, revenue, and price analysis of top players of the market?
· What are the market opportunities and threats faced by the vendors in the industry?
· What has been the impact of COVID-19 on the Electric Vehicle Market?
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Electro Diesel Locomotive Market
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