Electric Vehicle Market
Electric Vehicle - Global Market Outlook (2019-2027)
Electric Vehicle 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 UAE
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
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Electric Vehicle Market, By Propulsion Type
5.1 Introduction
5.2 Plug-in hybrid electric vehicle (PHEV)
5.3 Hybrid electric vehicle (HEV)
5.4 Battery electric vehicle (BEV)
5.5 Fuel cell electric vehicle (FCEV)
6 Global Electric Vehicle Market, By Battery Technology
6.1 Introduction
6.2 Lithium-Ion
6.3 Lead-Acid
6.4 Nickel Metal Hydride
6.5 Solid State
6.6 Metal-Air
6.7 Lithium-Sulfur
6.8 Flash Cell
6.9 Sodium Nickel Chloride
7 Global Electric Vehicle Market, By Vehicle Type
7.1 Introduction
7.2 Commercial Vehicles
7.2.1 Trucks
7.2.2 Buses
7.3 Two wheelers
7.4 Passenger Cars
7.4.1 Mid-range Car
7.4.2 Small Car
7.4.3 Sport Utility Vehicle (SUV)
7.4.4 Crossover Utility Vehicle (CUV)
8 Global Electric Vehicle Market, By Plug-in EVSE
8.1 Introduction
8.2 Power Supply Range
8.2.1 Level 1
8.2.2 Level 2
8.2.3 Level 3
8.3 Deployment
8.3.1 Commercial
8.3.2 Residential
9 Global Electric Vehicle Market, By Charging Station Type
9.1 Introduction
9.2 Super Charging
9.3 Normal Charging
10 Global Electric Vehicle Market, By Material
10.1 Introduction
10.2 Conductive
10.3 Semiconductor
10.4 Substrate
10.5 Dielectric
11 Global Electric Vehicle Market, By Light Weighting Material
11.1 Introduction
11.2 Aluminum
11.3 Steel
11.4 High Strength Steel
11.5 Carbon Fiber Reinforced Polymer (CFRP)
12 Global Electric Vehicle Market, By High Power Electronics
12.1 Introduction
12.2 Insulated-gate Bipolar Transistor (IGBT)
12.3 Silicon Carbide (SiC)
12.4 Gallium Nitride (GaN)
13 Global Electric Vehicle Market, By Component
13.1 Introduction
13.2 Infotainment System
13.2.1 Head Up Display System
13.2.2 Navigation, Information and Communication
13.2.3 Rear Seat Entertainment
13.2.4 Multimedia System
13.3 Electric Motor
13.4 Battery Cells & Packs
13.5 On-Board Charger
13.6 Electric Engine
13.7 Drivetrain
13.8 Base Charging Pad
13.9 Power Control Unit
13.10 Vehicle Charging Pad
13.11 Charge Cords
13.12 Vehicle Connectors
13.13 Attachment Plugs
14 Global Electric Vehicle Market, By Power Output
14.1 Introduction
14.2 Above 250 KW
14.3 Less than 100 KW
14.4 100-250 KW
15 Global Electric Vehicle Market, By Energy Harvesting
15.1 Introduction
15.2 Energy Type
15.2.1 Solar Energy
15.2.2 Thermal Energy
15.2.3 Kinetic Energy
15.3 Heat Recovery
15.3.1 Turbocharger
15.3.2 Regenerative Braking
16 Global Electric Vehicle Market, By Vehicle Class
16.1 Introduction
16.2 Luxury
16.3 Mid-Priced
17 Global Electric Vehicle Market, By Sales Channel
17.1 Introduction
17.2 Aftermarket
17.3 Original Equipment Manufacturer (OEM)
18 Global Electric Vehicle Market, By Application
18.1 Introduction
18.2 Flexible Display
18.3 OLED Lighting
18.4 Electronics and Components
18.5 Organic Photovoltaic
19 Global Electric Vehicle Market, By Geography
19.1 Introduction
19.2 North America
19.2.1 US
19.2.2 Canada
19.2.3 Mexico
19.3 Europe
19.3.1 Germany
19.3.2 UK
19.3.3 Italy
19.3.4 France
19.3.5 Spain
19.3.6 Rest of Europe
19.4 Asia Pacific
19.4.1 Japan
19.4.2 China
19.4.3 India
19.4.4 Australia
19.4.5 New Zealand
19.4.6 South Korea
19.4.7 Rest of Asia Pacific
19.5 South America
19.5.1 Argentina
19.5.2 Brazil
19.5.3 Chile
19.5.4 Rest of South America
19.6 Middle East & Africa
19.6.1 Saudi Arabia
19.6.2 UAE
19.6.3 Qatar
19.6.4 South Africa
19.6.5 Rest of Middle East & Africa
20 Key Developments
20.1 Agreements, Partnerships, Collaborations and Joint Ventures
20.2 Acquisitions & Mergers
20.3 New Product Launch
20.4 Expansions
20.5 Other Key Strategies
21 Company Profiling
21.1 Energica Motor Company S.P.A
21.2 Ford Motors
21.3 General Motors Company
21.4 Volvo
21.5 Honda Motor Company Ltd
21.6 Nissan Motors Co. Ltd.
21.7 Tesla, Inc.
21.8 Toyota Motor Corporation
21.9 Hyundai
21.10 Bayerische Motoren Werke AG (BMW)
21.11 BYD Company Limited
21.12 Daimler AG
21.13 Continental
21.14 Volkswagen AG
21.15 Geely Automobile Holding Limited
21.16 Groupe Renault
21.17 Mitsubishi Motors Corporation
21.18 Jiangling Motors Corporation Limited
21.19 Lucid Motors, Inc.
21.20 Zotye International Automobile Trading Co. Ltd.
List of Tables
1 Global Electric Vehicle Market Outlook, By Region (2018-2027) ($MN)
2 Global Electric Vehicle Market Outlook, By Propulsion Type (2018-2027) ($MN)
3 Global Electric Vehicle Market Outlook, By Plug-in hybrid electric vehicle (PHEV) (2018-2027) ($MN)
4 Global Electric Vehicle Market Outlook, By Hybrid electric vehicle (HEV) (2018-2027) ($MN)
5 Global Electric Vehicle Market Outlook, By Battery electric vehicle (BEV) (2018-2027) ($MN)
6 Global Electric Vehicle Market Outlook, By Fuel cell electric vehicle (FCEV) (2018-2027) ($MN)
7 Global Electric Vehicle Market Outlook, By Battery Technology (2018-2027) ($MN)
8 Global Electric Vehicle Market Outlook, By Lithium-Ion (2018-2027) ($MN)
9 Global Electric Vehicle Market Outlook, By Lead-Acid (2018-2027) ($MN)
10 Global Electric Vehicle Market Outlook, By Nickel Metal Hydride (2018-2027) ($MN)
11 Global Electric Vehicle Market Outlook, By Solid State (2018-2027) ($MN)
12 Global Electric Vehicle Market Outlook, By Metal-Air (2018-2027) ($MN)
13 Global Electric Vehicle Market Outlook, By Lithium-Sulfur (2018-2027) ($MN)
14 Global Electric Vehicle Market Outlook, By Flash Cell (2018-2027) ($MN)
15 Global Electric Vehicle Market Outlook, By Sodium Nickel Chloride (2018-2027) ($MN)
16 Global Electric Vehicle Market Outlook, By Vehicle Type (2018-2027) ($MN)
17 Global Electric Vehicle Market Outlook, By Commercial Vehicles (2018-2027) ($MN)
18 Global Electric Vehicle Market Outlook, By Trucks (2018-2027) ($MN)
19 Global Electric Vehicle Market Outlook, By Buses (2018-2027) ($MN)
20 Global Electric Vehicle Market Outlook, By Two wheelers (2018-2027) ($MN)
21 Global Electric Vehicle Market Outlook, By Passenger Cars (2018-2027) ($MN)
22 Global Electric Vehicle Market Outlook, By Mid-range Car (2018-2027) ($MN)
23 Global Electric Vehicle Market Outlook, By Small Car (2018-2027) ($MN)
24 Global Electric Vehicle Market Outlook, By Sport Utility Vehicle (SUV) (2018-2027) ($MN)
25 Global Electric Vehicle Market Outlook, By Crossover Utility Vehicle (CUV) (2018-2027) ($MN)
26 Global Electric Vehicle Market Outlook, By Plug-in EVSE (2018-2027) ($MN)
27 Global Electric Vehicle Market Outlook, By Power Supply Range (2018-2027) ($MN)
28 Global Electric Vehicle Market Outlook, By Level 1 (2018-2027) ($MN)
29 Global Electric Vehicle Market Outlook, By Level 2 (2018-2027) ($MN)
30 Global Electric Vehicle Market Outlook, By Level 3 (2018-2027) ($MN)
31 Global Electric Vehicle Market Outlook, By Deployment (2018-2027) ($MN)
32 Global Electric Vehicle Market Outlook, By Commercial (2018-2027) ($MN)
33 Global Electric Vehicle Market Outlook, By Residential (2018-2027) ($MN)
34 Global Electric Vehicle Market Outlook, By Charging Station Type (2018-2027) ($MN)
35 Global Electric Vehicle Market Outlook, By Super Charging (2018-2027) ($MN)
36 Global Electric Vehicle Market Outlook, By Normal Charging (2018-2027) ($MN)
37 Global Electric Vehicle Market Outlook, By Material (2018-2027) ($MN)
38 Global Electric Vehicle Market Outlook, By Conductive (2018-2027) ($MN)
39 Global Electric Vehicle Market Outlook, By Semiconductor (2018-2027) ($MN)
40 Global Electric Vehicle Market Outlook, By Substrate (2018-2027) ($MN)
41 Global Electric Vehicle Market Outlook, By Dielectric (2018-2027) ($MN)
42 Global Electric Vehicle Market Outlook, By Light weighting Material (2018-2027) ($MN)
43 Global Electric Vehicle Market Outlook, By Aluminum (2018-2027) ($MN)
44 Global Electric Vehicle Market Outlook, By Steel (2018-2027) ($MN)
45 Global Electric Vehicle Market Outlook, By High Strength Steel (2018-2027) ($MN)
46 Global Electric Vehicle Market Outlook, By Carbon Fiber Reinforced Polymer (CFRP) (2018-2027) ($MN)
47 Global Electric Vehicle Market Outlook, By High Power Electronics (2018-2027) ($MN)
48 Global Electric Vehicle Market Outlook, By Insulated-gate Bipolar Transistor (IGBT) (2018-2027) ($MN)
49 Global Electric Vehicle Market Outlook, By Silicon Carbide (SiC) (2018-2027) ($MN)
50 Global Electric Vehicle Market Outlook, By Gallium Nitride (GaN) (2018-2027) ($MN)
51 Global Electric Vehicle Market Outlook, By Component (2018-2027) ($MN)
52 Global Electric Vehicle Market Outlook, By Infotainment System (2018-2027) ($MN)
53 Global Electric Vehicle Market Outlook, By Head Up Display System (2018-2027) ($MN)
54 Global Electric Vehicle Market Outlook, By Navigation, Information and Communication (2018-2027) ($MN)
55 Global Electric Vehicle Market Outlook, By Rear Seat Entertainment (2018-2027) ($MN)
56 Global Electric Vehicle Market Outlook, By Multimedia System (2018-2027) ($MN)
57 Global Electric Vehicle Market Outlook, By Electric Motor (2018-2027) ($MN)
58 Global Electric Vehicle Market Outlook, By Battery Cells & Packs (2018-2027) ($MN)
59 Global Electric Vehicle Market Outlook, By On-Board Charger (2018-2027) ($MN)
60 Global Electric Vehicle Market Outlook, By Electric Engine (2018-2027) ($MN)
61 Global Electric Vehicle Market Outlook, By Drivetrain (2018-2027) ($MN)
62 Global Electric Vehicle Market Outlook, By Base Charging Pad (2018-2027) ($MN)
63 Global Electric Vehicle Market Outlook, By Power Control Unit (2018-2027) ($MN)
64 Global Electric Vehicle Market Outlook, By Vehicle Charging Pad (2018-2027) ($MN)
65 Global Electric Vehicle Market Outlook, By Charge Cords (2018-2027) ($MN)
66 Global Electric Vehicle Market Outlook, By Vehicle Connectors (2018-2027) ($MN)
67 Global Electric Vehicle Market Outlook, By Attachment Plugs (2018-2027) ($MN)
68 Global Electric Vehicle Market Outlook, By Power Output (2018-2027) ($MN)
69 Global Electric Vehicle Market Outlook, By Above 250 KW (2018-2027) ($MN)
70 Global Electric Vehicle Market Outlook, By Less than 100 KW (2018-2027) ($MN)
71 Global Electric Vehicle Market Outlook, By 100-250 KW (2018-2027) ($MN)
72 Global Electric Vehicle Market Outlook, By Energy Harvesting (2018-2027) ($MN)
73 Global Electric Vehicle Market Outlook, By Energy Type (2018-2027) ($MN)
74 Global Electric Vehicle Market Outlook, By Solar Energy (2018-2027) ($MN)
75 Global Electric Vehicle Market Outlook, By Thermal Energy (2018-2027) ($MN)
76 Global Electric Vehicle Market Outlook, By Kinetic Energy (2018-2027) ($MN)
77 Global Electric Vehicle Market Outlook, By Heat Recovery (2018-2027) ($MN)
78 Global Electric Vehicle Market Outlook, By Turbocharger (2018-2027) ($MN)
79 Global Electric Vehicle Market Outlook, By Regenerative Braking (2018-2027) ($MN)
80 Global Electric Vehicle Market Outlook, By Vehicle Class (2018-2027) ($MN)
81 Global Electric Vehicle Market Outlook, By Luxury (2018-2027) ($MN)
82 Global Electric Vehicle Market Outlook, By Mid-Priced (2018-2027) ($MN)
83 Global Electric Vehicle Market Outlook, By Sales Channel (2018-2027) ($MN)
84 Global Electric Vehicle Market Outlook, By Aftermarket (2018-2027) ($MN)
85 Global Electric Vehicle Market Outlook, By Original Equipment Manufacturer (OEM) (2018-2027) ($MN)
86 Global Electric Vehicle Market Outlook, By Application (2018-2027) ($MN)
87 Global Electric Vehicle Market Outlook, By Flexible Display (2018-2027) ($MN)
88 Global Electric Vehicle Market Outlook, By OLED Lighting (2018-2027) ($MN)
89 Global Electric Vehicle Market Outlook, By Electronics and Components (2018-2027) ($MN)
90 Global Electric Vehicle Market Outlook, By Organic Photovoltaic (2018-2027) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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