Electric Vehicle Market

Electric Vehicle - Global Market Outlook (2019-2027)

4.5 (38 reviews)
Published: June 2020 ID: SMRC19387
4.5 (38 reviews)
Published: June 2020 ID: SMRC19387

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Electric Vehicle Market is accounted for $162.34 billion in 2019 and is expected to reach $716.87 billion by 2027 growing at a CAGR of 20.4% during the forecast period. Some of the key factors propelling the market growth include favourable government policies and subsidies, growing concerns over environmental pollution, demand for increased vehicle range per charge, rapidly increasing sales of electric vehicles, and rising fuel prices will boost the demand for electric vehicles. However, lack of standardization of charging infrastructure is likely to hamper the market.

An automobile with a large battery to store energy and propelled by one or more electric motors is known as an electric vehicle. Some of these vehicles also come with an additional Internal Combustion Engine (ICE). The electric vehicle industry holds a great potential in the near future to change the global vehicular emissions scenario. Electric vehicles make use of a high voltage battery that can store a huge volume of energy. The use of advanced concepts in the development of this battery will emerge in favor of the adoption of electric vehicles over normal vehicles.

By propulsion type, plug-in hybrid electric vehicle segment is projected to witness the lucrative growth during the forecast period, due to the growing infrastructure of electric vehicle charging stations globally. This upsurge is due to the initiatives taken by the government of developing countries such as India and China to promote the usage of electric vehicles. Furthermore, companies such as Volkswagen Group are focusing on increasing its plug-in electric car sales.

On the basis of geography, The Asia Pacific market is expected to witness the significant growth, during the forecast period, due to increasing demand for reducing carbon emission and developing. The automotive industry in the countries such as China, Japan and South Korea is inclined toward innovation, technology, and development of advanced electric vehicle. more advanced and fast charging stations are expected to propel the growth of electric vehicle. BYD, BAIC, Chery and SAIC among others are some of the key players in the Asia Pacific electric vehicle market.

Some of the key players in electric vehicle market include Energica Motor Company S.P.A, Ford Motors, General Motors Company, Volvo, Honda Motor Company Ltd, Nissan Motors Co. Ltd., Tesla, Inc., Toyota Motor Corporation, Hyundai, Bayerische Motoren Werke AG (BMW), BYD Company Limited, Daimler AG, Continental, Volkswagen AG, Geely Automobile Holding Limited, Groupe Renault, Mitsubishi Motors Corporation, Jiangling Motors Corporation Limited, Lucid Motors, Inc., and Zotye International Automobile Trading Co. Ltd.

Propulsion Types Covered:
• Plug-in hybrid electric vehicle (PHEV)
• Hybrid electric vehicle (HEV)
• Battery electric vehicle (BEV)
• Fuel cell electric vehicle (FCEV)

Battery Technologies Covered:
• Lithium-Ion
• Lead-Acid
• Nickel Metal Hydride
• Solid State
• Metal-Air
• Lithium-Sulfur
• Flash Cell
• Sodium Nickel Chloride

Vehicle Types Covered:
• Commercial Vehicles
• Two wheelers
• Passenger Cars

Plug-in EVSE Covered:
• Power Supply Range
• Deployment

Charging Station Types Covered:
• Super Charging
• Normal Charging

Materials Covered:
• Conductive
• Semiconductor
• Substrate
• Dielectric

Light Weighting Materials Covered:
• Aluminum
• Steel
• High Strength Steel
• Carbon Fiber Reinforced Polymer (CFRP)

High Power Electronics Covered:
• Insulated-gate Bipolar Transistor (IGBT)
• Silicon Carbide (SiC)
• Gallium Nitride (GaN)

Components Covered:
• Infotainment System
• Electric Motor
• Battery Cells & Packs
• On-Board Charger
• Electric Engine
• Drivetrain
• Base Charging Pad
• Power Control Unit
• Vehicle Charging Pad
• Charge Cords
• Vehicle Connectors
• Attachment Plugs

Power Outputs Covered:
• Above 250 KW
• Less than 100 KW
• 100-250 KW

Energy Harvesting Covered:
• Energy Type
• Heat Recovery

Vehicle Classes Covered:
• Luxury
• Mid-Priced

Sales Channels Covered:
• Aftermarket
• Original Equipment Manufacturer (OEM)

Applications Covered:
• Flexible Display
• OLED Lighting
• Electronics and Components
• Organic Photovoltaic

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK 
o Spain
o Rest of Europe      
• Asia Pacific
o Japan       
o China       
o India       
o Australia       
o New Zealand      
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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