Press Release

Small Electric Vehicle Market to Grow at 23% until 2022

Government incentive schemes coupled with growing consumer inclination towards cleaner and energy efficient vehicles to fuel global small electric vehicle market through 2022

According to TechSci Research report, Global Small Electric Vehicle Market By Vehicle Type, By Technology Type, By Battery Type, By Region, Competition Forecast & Opportunities, 2016 – 2022, the global small electric vehicle market is projected to grow at a CAGR of 23% during 2017 - 2022. Growth in the market is anticipated on account of favorable government policies and attractive incentives for promoting the use of environment friendly vehicles amid growing air pollution levels. Moreover, expanding research & development efforts by various companies to launch technologically advanced vehicles, increasing affordability of electric vehicles, and expanding middle class population are expected to propel demand for small electric vehicles, globally, in the coming years.

Browse 123 Figures spread through 199 Pages and an in-depth TOC on "Global Small Electric Vehicle Market"

https://www.techsciresearch.com/report/global-small-electric-vehicle-market-by-technology-hybrid-electric-vehicle-plug-in-hybrid-electric-vehicle-battery-electric-vehicle-by-battery-type-by-geography-competition-forecast-opportunities/1039.html


In 2016, Asia-Pacific accounted for the leading share in small electric vehicle market, backed by huge population base, growing sales of electric automobiles and rapid expansion in automobile production in the region. Additionally, with increasing technological and infrastructure developments in developing countries such as India, China, etc., demand for more sophisticated transportation means is growing, which is anticipated to positively influence the small electric vehicle market in these countries over the course of next five years.

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“Owing to growing interest of consumers in small electric vehicles, several manufacturers are making huge investments and are coming up with advanced feature-rich vehicles in the anticipation of lucrative returns. Moreover, increasing penetration of small electric vehicles in developing economies, rising pollution levels, etc., are expected to thrive global small electric vehicle market through 2022.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. Some of the leading global small electric vehicle players include Nissan, BMW AG, Toyota Motor Corporation, Ford Motor Company, Zhengzhou Yutong Bus Co. Ltd., Audi AG, Hyundai Motor Company, BYD Company Limited, and Renault, among others.

Global Small Electric Vehicle Market By Vehicle Type, By Technology Type, By Battery Type, By Region, Competition Forecast & Opportunities, 2016 – 2022 has analyzed the potential of small electric vehicle market across the globe, and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry.


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Global Small Electric Vehicle Market By Technology (Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle, Battery Electric Vehicle), By Battery Type, By Geography, Competition Forecast & Opportunities, 2022

Automotive | Jun, 2017

Government incentive schemes coupled with growing consumer inclination towards cleaner and energy efficient vehicles to fuel global small electric vehicle market through 2022

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