Electric Mobility Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product (Electric Cars, Electric Two Wheelers, Others), By Voltage (Less than 24V, 24V-48V, and Greater than 48V), By Battery (Sealed Lead Acid, NiMH, Li-ion), By Region, Competition 2019-2029

  • Industry : Automotive
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Summary

Report Description

 

Forecast Period

2025-2029

Market Size (2023)

USD 230.12 Billion

CAGR (2024-2029)

6.07%

Fastest Growing Segment

Two Wheelers

Largest Market

Europe & CIS


Market Overview

Global Electric Mobility Market was valued at USD 230.12 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 6.07% through 2029. The electric mobility market is experiencing rapid growth and transformation as societies worldwide seek to address environmental concerns, reduce dependency on fossil fuels, and enhance energy efficiency. This market encompasses a diverse range of electric vehicles (EVs), including electric cars, electric buses, electric bikes, and electric scooters, as well as the supporting charging infrastructure.

One of the primary drivers of the electric mobility market is government policies and regulations aimed at reducing greenhouse gas emissions and promoting clean transportation. Many countries have implemented incentives such as subsidies, tax credits, and preferential regulations to encourage the adoption of electric vehicles. Additionally, mandates for automakers to increase the share of electric vehicles in their fleets have further stimulated market growth.

Technological advancements in battery technology have significantly improved the performance and affordability of electric vehicles, addressing concerns related to range anxiety and charging infrastructure. Lithium-ion batteries, the primary energy storage technology in EVs, have become more efficient and cost-effective, enabling EVs to achieve longer ranges on a single charge and reducing the overall cost of ownership.

Moreover, the declining costs of renewable energy sources, such as solar and wind power, are driving down the operational costs of electric vehicles, making them increasingly competitive with conventional internal combustion engine vehicles.

The electric mobility market is not limited to passenger vehicles but also includes commercial and public transportation sectors. Electric buses are gaining popularity in urban areas as cities seek to reduce air pollution and noise levels. Similarly, electric bikes and scooters are becoming popular alternatives for short-distance commutes, offering convenient and environmentally friendly transportation options.

Investments in charging infrastructure are crucial for the widespread adoption of electric vehicles. Governments, utilities, and private companies are collaborating to deploy charging stations in key locations, including highways, urban centers, and residential areas, to support the growing number of electric vehicles on the road.

Overall, the electric mobility market is poised for continued expansion as technological advancements, supportive policies, and changing consumer preferences drive the transition towards a more sustainable transportation ecosystem.


Market Drivers

Technological Advancements in Battery Technology

At the heart of the electric mobility revolution lies the remarkable progress in battery technology. Technological advancements have been instrumental in overcoming the traditional limitations of electric vehicles (EVs) – primarily, limited range and extended charging times. Lithium-ion batteries, the predominant energy storage technology in electric vehicles, have witnessed substantial improvements in terms of energy density, cost reduction, and overall performance.

One of the critical drivers in the electric mobility market is the pursuit of higher energy density in batteries. Manufacturers are continually pushing the boundaries of energy storage, aiming to pack more energy into smaller and lighter battery packs. Higher energy density translates to longer driving ranges, addressing one of the primary concerns of potential EV adopters – range anxiety.

Improvements in charging technologies have significantly reduced the charging times for electric vehicles. Fast-charging stations, capable of delivering high power to the vehicle's battery, have become more widespread. Ultra-fast charging technologies, such as 350 kW and above, promise to further minimize charging times, making electric vehicles more practical for daily use. Moreover, innovations in bidirectional charging and vehicle-to-grid (V2G) technologies enhance the flexibility and utility of electric vehicles in the broader energy ecosystem.

The development of solid-state batteries represents a paradigm shift in electric vehicle energy storage. Solid-state batteries replace the liquid electrolyte found in traditional lithium-ion batteries with a solid electrolyte, offering potential advantages such as increased energy density, faster charging, and enhanced safety. Although still in the early stages of research and development, the promise of solid-state batteries lies in their potential to address current limitations and further accelerate the adoption of electric mobility.

As technological advancements progress, economies of scale and increased manufacturing efficiency contribute to a notable reduction in the cost of electric vehicle batteries. The decreasing cost of batteries directly impacts the overall cost of electric vehicles, making them more competitive with traditional internal combustion engine vehicles. Governments and industry stakeholders are actively working towards achieving cost parity between electric and conventional vehicles to eliminate one of the primary barriers to mass adoption.

Government Initiatives and Regulatory Support

Government initiatives and regulatory support play a pivotal role in shaping the electric mobility market. Countries around the world are recognizing the environmental and economic benefits of transitioning towards electric vehicles and are implementing a range of policies to incentivize their adoption.

Many governments have set ambitious emission reduction goals and targets, aligning with global efforts to combat climate change. To achieve these goals, policymakers are incentivizing the shift to electric mobility through a combination of regulatory measures, financial incentives, and infrastructure development. By imposing stricter emission standards on automakers and offering incentives to consumers, governments aim to accelerate the transition towards a cleaner and more sustainable transportation system.

Financial incentives and subsidies are key drivers for consumers to embrace electric mobility. These incentives may include tax credits, rebates, or direct subsidies for purchasing electric vehicles. Additionally, governments often provide financial support for the development of charging infrastructure, creating a supportive ecosystem for electric vehicle adoption. These incentives not only make electric vehicles more accessible but also stimulate demand and drive market growth.

Countries worldwide are implementing regulatory frameworks that favor electric mobility. This includes setting targets for the percentage of electric vehicles in national fleets, establishing zero-emission zones in urban areas, and implementing fuel economy standards that encourage the adoption of electric vehicles. By creating a regulatory environment that supports electric mobility, governments send a strong signal to both consumers and industry stakeholders about the direction of the transportation sector.

Government initiatives extend to infrastructure development, with significant investments in charging networks. The establishment of a robust charging infrastructure is critical for the widespread adoption of electric vehicles. Governments are actively investing in public charging stations along highways, in urban areas, and at strategic locations to address range anxiety and provide convenient charging options for electric vehicle owners.

On the global stage, collaborations and agreements between countries further drive the electric mobility agenda. International organizations, such as the International Energy Agency (IEA) and the United Nations, facilitate dialogue and cooperation on electric mobility policies and best practices. Agreements between neighboring countries to harmonize standards and regulations contribute to the seamless integration of electric vehicles into cross-border transportation networks.

Changing Consumer Preferences and Increased Awareness

Consumer preferences are evolving, driven by an increased awareness of environmental issues, changing lifestyles, and a desire for innovative and advanced technologies. As more consumers recognize the benefits of electric vehicles, a shift in preferences towards cleaner and sustainable transportation options is underway.

Growing environmental consciousness among consumers is a key driver for the adoption of electric mobility. Concerns about air quality, climate change, and the environmental impact of traditional vehicles are prompting consumers to seek greener alternatives. Electric vehicles, with their zero-emission profile, are positioned as a more environmentally friendly choice, appealing to consumers who prioritize sustainability in their purchasing decisions.

The global trend of urbanization has significant implications for transportation preferences. In densely populated urban areas, the drawbacks of traditional internal combustion engine vehicles, such as air pollution and traffic congestion, are more pronounced. Electric vehicles, particularly compact electric cars and electric scooters, align with the evolving mobility patterns in urban settings, where shorter commutes and shared mobility services are becoming increasingly prevalent.

Advancements in electric vehicle design and features contribute to changing consumer perceptions. Electric vehicles are no longer perceived as compromise vehicles with limited performance and functionality. The market now offers a diverse range of electric vehicles, including high-performance electric sports cars, electric SUVs, and electric trucks. The incorporation of cutting-edge technologies, connectivity features, and advanced driver-assistance systems further enhances the appeal of electric vehicles to tech-savvy consumers.

Consumers are increasingly considering the total cost of ownership (TCO) when evaluating vehicle options. While the upfront cost of electric vehicles may be higher than that of traditional vehicles, the lower operating and maintenance costs contribute to a more favorable TCO over the vehicle's lifespan. This shift in consumer mindset towards long-term cost savings reinforces the attractiveness of electric vehicles in the market.

Advancements in Charging Infrastructure

The growth of the electric mobility market is intricately tied to the expansion and improvement of electric vehicle charging infrastructure. The availability and accessibility of charging stations play a crucial role in addressing range anxiety, a significant concern for potential electric vehicle adopters.

One of the drivers in the electric mobility market is the continuous expansion of the global charging network. Governments, private companies, and industry stakeholders are investing heavily in deploying charging stations along highways, in urban areas, and at key locations. The goal is to create a comprehensive and interconnected charging infrastructure that facilitates long-distance travel and supports the daily charging needs of electric vehicle owners.

 

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Key Market Challenges

Charging Infrastructure Limitations

One of the primary challenges facing the global electric mobility market is the inadequacy of charging infrastructure. The number of charging stations, especially fast-charging stations, is often insufficient to meet the growing demand for electric vehicles (EVs). This limitation poses a significant barrier to the widespread adoption of electric mobility, as consumers are concerned about the availability and accessibility of charging points. Charging infrastructure disparities between urban and rural areas exacerbates the challenge. While urban centers may have a relatively dense network of charging stations, rural areas often lack adequate coverage. This geographical imbalance hinders the seamless integration of electric vehicles into diverse landscapes, limiting their appeal to a broader range of consumers.

Despite advancements in fast-changing technologies, the time required to charge an electric vehicle remains longer than the refueling time for traditional vehicles. The inconvenience associated with longer charging durations contributes to "range anxiety" – the fear of running out of battery power before reaching a charging station. Addressing this challenge requires a concerted effort to improve charging speeds and enhance the overall convenience of the charging experience.

The upfront cost of establishing a comprehensive charging infrastructure is a substantial challenge for governments, businesses, and investors. Building an extensive network of charging stations requires significant capital investment, and the return on this investment may take time. Consequently, the financial burden associated with creating a robust charging infrastructure act as a deterrent for many stakeholders, slowing down the development of the necessary ecosystem.

To overcome charging infrastructure limitations, collaborative efforts are essential. Governments, private businesses, and industry stakeholders should work together to invest in the expansion of charging networks. Incentives and subsidies can encourage private businesses to set up charging stations, especially in underserved regions. Additionally, advancements in battery technology, such as ultra-fast charging and vehicle-to-grid capabilities, can enhance the efficiency and appeal of electric vehicles, mitigating concerns related to charging times.

Technology and Battery Concerns

Despite significant advancements, electric vehicles still face challenges related to limited driving range and energy density. Although modern electric cars boast increasingly competitive ranges, they may fall short of the expectations set by traditional vehicles with internal combustion engines. The need for frequent recharging and concerns about running out of battery power during long journeys contribute to consumer hesitancy.

Battery degradation over time is a significant concern for electric vehicle owners. The capacity of lithium-ion batteries, the predominant technology in electric vehicles, diminishes gradually with each charging cycle. This degradation affects the vehicle's range and overall performance, leading to concerns about the long-term durability of electric vehicles and the cost associated with replacing batteries.

The environmental impact of manufacturing batteries is a critical consideration in the overall sustainability of electric vehicles. The extraction and processing of raw materials, such as lithium, cobalt, and nickel, contribute to environmental degradation. Additionally, the energy-intensive nature of battery production raises questions about the net environmental benefits of electric vehicles, especially if the electricity used in manufacturing comes from non-renewable sources.

The electric mobility market is characterized by rapid technological evolution. While this pace of innovation drives progress, it also presents challenges for consumers and industry stakeholders. Concerns about the obsolescence of technology and the rapid depreciation of vehicle value due to new and improved models entering the market can influence purchasing decisions. Consumers may delay purchasing electric vehicles, anticipating that newer and more advanced models will soon be available.

To address technology and battery concerns, continuous research and development efforts are crucial. Advances in battery technology, including the development of solid-state batteries and alternative battery chemistries, hold promise for overcoming current limitations. Governments and industry stakeholders should invest in research initiatives that focus on improving energy density, reducing battery degradation, and finding sustainable alternatives to critical raw materials.

A comprehensive lifecycle assessment of electric vehicles, including the environmental impact of battery production and disposal, is necessary. Implementing effective recycling programs for batteries can mitigate the environmental footprint of electric vehicles. Investing in circular economy practices, such as battery recycling and reuse, contributes to the overall sustainability of electric mobility.

Economic Considerations

The upfront cost of electric vehicles remains a significant barrier to widespread adoption. While the total cost of ownership over the vehicle's lifespan may be competitive due to lower operating and maintenance costs, the higher initial purchase price is a deterrent for many consumers. This cost disparity creates a perception that electric vehicles are a luxury or niche market option rather than a mainstream alternative.

Affordability is closely tied to the range of electric vehicle models available in the market. While premium electric vehicles have gained popularity, the lack of diverse and affordable options in the entry-level and mid-range segments limits the accessibility of electric mobility to a broader consumer base. Greater variety in models with varying price points is essential to appeal to different consumer demographics.

The economic viability of charging infrastructure providers is contingent on factors such as utilization rates, electricity pricing, and the overall demand for electric vehicles. Achieving profitability requires overcoming the initial investment costs and attracting a sufficiently large user base. Balancing the need for profitability with the imperative to keep charging costs competitive is a delicate challenge faced by infrastructure providers.

Government incentives, tax credits, and subsidies are effective tools to address the high initial cost of electric vehicles. Continued research and development aimed at reducing the production costs of batteries and electric drivetrains can contribute to making electric vehicles more affordable. Policymakers should explore innovative financing models, such as subsidized loans or leasing programs, to further encourage electric vehicle adoption, especially in markets where affordability remains a key concern.

Collaborations between electric vehicle manufacturers and financial institutions can result in favorable financing options for consumers. Special financing programs, low-interest loans, and leasing agreements tailored to the unique economic dynamics of electric vehicles can help bridge the affordability gap. Additionally, incentives for manufacturers to produce affordable electric vehicle models can diversify the market and cater to a broader consumer base.

Consumer Awareness and Education

Consumer awareness and understanding of electric vehicles remain relatively low in many regions. Potential buyers may have misconceptions about the technology, range capabilities, charging infrastructure, and overall performance of electric vehicles. The lack of accurate information contributes to skepticism and hinders the willingness of consumers to make the switch to electric mobility.

Range anxiety, the fear of running out of battery power before reaching a charging station, is a significant psychological barrier for consumers considering electric vehicles. Addressing this concern requires comprehensive education on the actual driving ranges of modern electric vehicles, the availability of charging infrastructure, and advancements in fast-charging technologies. Consumer education campaigns are essential to dispel.

Key Market Trends

Electrification of Passenger Vehicles

One of the most significant trends in the global electric mobility market is the widespread electrification of passenger vehicles. This trend is driven by several factors, including environmental concerns, government incentives, and advancements in battery technology. Governments worldwide are increasingly adopting stringent emission standards and offering incentives to promote the adoption of electric vehicles (EVs) as part of their commitment to combating climate change.

Technological advancements play a pivotal role in driving the electrification trend. Battery technology, in particular, has seen substantial improvements, leading to increased energy density, longer driving ranges, and reduced costs. Lithium-ion batteries, the predominant technology in electric vehicles, continue to undergo research and development, with efforts focused on enhancing performance, durability, and recyclability. Additionally, advancements in electric drivetrain technologies, regenerative braking systems, and power electronics contribute to the overall efficiency and appeal of electric vehicles. The integration of smart and connected features, such as advanced driver-assistance systems (ADAS) and over-the-air (OTA) software updates, enhances the user experience and positions electric vehicles at the forefront of automotive innovation.

The electric mobility market dynamics are shaped by a combination of consumer preferences, regulatory policies, and industry collaborations. As consumers become more environmentally conscious and seek sustainable transportation options, the demand for electric vehicles continues to rise. The push for stricter emission standards by governments around the world further accelerates the adoption of electric mobility solutions. Collaborations between automakers, technology companies, and energy providers are becoming more common. Partnerships aim to address challenges such as charging infrastructure development, battery recycling, and the integration of renewable energy sources into electric vehicle charging networks. These collaborations contribute to the overall growth and maturity of the electric mobility ecosystem.

Expansion of Electric Vehicle Charging Infrastructure

The growth of the electric mobility market is intricately linked to the expansion and improvement of electric vehicle charging infrastructure. The availability and accessibility of charging stations play a crucial role in alleviating range anxiety among potential electric vehicle buyers. Governments and private entities worldwide are investing heavily in developing a robust charging infrastructure network to support the increasing number of electric vehicles on the roads.

Charging technologies are evolving to meet the diverse needs of electric vehicle users. Fast-charging stations, capable of delivering high power to recharge vehicle batteries rapidly, are gaining prominence along highways and in urban areas. Ultra-fast charging technologies, including 350 kW and higher charging stations, are being deployed to further reduce charging times.

The development of wireless charging technology is another notable trend. Wireless charging eliminates the need for physical cables, offering a convenient and seamless charging experience. This technology is particularly relevant for applications such as electric taxis and autonomous electric vehicles, where continuous operation is essential.

Smart charging solutions are becoming integral to the electric mobility infrastructure. These solutions leverage digital technologies to optimize charging processes, manage grid demand, and provide users with real-time data on charging station availability and pricing. Smart grids, demand response systems, and vehicle-to-grid (V2G) technologies are part of this evolving ecosystem, contributing to a more intelligent and efficient electric mobility infrastructure.

Rise of Electric Commercial Vehicles

While the passenger vehicle segment has been at the forefront of electric mobility, there is a notable trend toward the electrification of commercial vehicles. From delivery vans to buses and even heavy-duty trucks, electric commercial vehicles are gaining traction globally. This trend is fueled by a combination of regulatory pressures, cost savings, and the recognition of the environmental benefits of electrified fleets.

Urbanization trends and the increasing focus on reducing air pollution in urban areas contribute to the rise of electric commercial vehicles. Many cities are implementing stricter emission standards and regulations, creating an environment conducive to the adoption of electric buses and delivery vehicles. Governments, recognizing the impact of commercial transportation on air quality, often incentivize the transition to electric commercial fleets. The total cost of ownership (TCO) for electric commercial vehicles is becoming more competitive compared to traditional internal combustion engine counterparts. While the upfront cost of electric vehicles may be higher, lower maintenance costs, reduced fuel expenses, and potential incentives contribute to overall cost savings over the vehicle's lifetime. Fleet operators are increasingly recognizing the economic viability of electric commercial vehicles.

Innovations in battery technology and charging infrastructure are crucial for the widespread adoption of electric commercial vehicles. Manufacturers are developing specialized electric vehicles tailored to the needs of commercial operators, including electric trucks with extended ranges for long-haul transportation and electric delivery vans designed for urban logistics. Telematics and fleet management solutions are also evolving to accommodate the unique requirements of electric commercial fleets.

Integration of Renewable Energy Sources

The integration of renewable energy sources into the electric mobility ecosystem is emerging as a key trend, aligning with broader sustainability goals. The use of clean energy for charging electric vehicles contributes to reducing the overall carbon footprint of transportation. This trend involves the coupling of electric vehicle charging infrastructure with solar and wind power generation. Solar-powered electric vehicle charging stations are gaining popularity as a sustainable solution. These stations harness energy from the sun to power electric vehicle chargers, offering a clean and renewable energy source. The deployment of solar canopies in parking lots and at charging stations enhances the environmental credentials of electric mobility and contributes to the resilience of charging infrastructure.

Vehicle-to-Grid (V2G) technology allows electric vehicles to not only draw power from the grid but also return excess energy to the grid when needed. This bidirectional energy flow supports grid stability and enables electric vehicle owners to participate in energy markets, potentially offsetting the cost of vehicle ownership. V2G technology is a key enabler of a more sustainable and interconnected energy ecosystem.

Collaborations between electric mobility stakeholders and renewable energy providers are becoming more prevalent. Automakers and charging infrastructure providers are partnering with solar and wind energy companies to ensure that the electricity used to charge electric vehicles is sourced from renewable energy. This collaboration reinforces the environmental benefits of electric mobility and aligns with the broader global push towards decarbonization.

Advancements in Battery Technology

Advancements in battery technology represent a cornerstone of the electric mobility market, influencing the range, performance, and cost-effectiveness of electric vehicles. Continuous research and development efforts focus on improving the energy density, charging speed, and overall efficiency of batteries. Lithium-ion batteries remain dominant, but emerging technologies are poised to shape the future of energy storage in electric vehicles.

Solid-state batteries are considered a promising advancement in electric vehicle battery technology. These batteries replace the liquid electrolyte found in traditional lithium-ion batteries with a solid electrolyte, offering potential advantages such as higher energy density, faster charging times, and improved safety. While still in the research and development stage, solid-state batteries hold the promise of addressing some of the limitations associated with current battery technologies.

Segmental Insights

Voltage Type Analysis

The voltage type analysis in the global electric mobility market, segmented into less than 24V, 24V-48V, and greater than 48V, provides insights into the diverse range of electric vehicles and their corresponding voltage requirements.

Less than 24V:

This segment primarily encompasses low-voltage electric mobility solutions, including electric bicycles, scooters, and some light electric vehicles (LEVs). These vehicles typically operate on voltages below 24V, which are sufficient for powering smaller motors and battery systems. Less than 24V electric vehicles are popular for short-distance commuting and urban transportation, offering energy-efficient and cost-effective mobility solutions for consumers and businesses alike.

24V-48V:

Electric vehicles falling within the 24V-48V range represent a broad spectrum of mobility options, including electric motorcycles, certain types of electric scooters, and utility vehicles such as golf carts and neighborhood electric vehicles (NEVs). This voltage range provides a balance between power output and energy efficiency, making it suitable for various applications ranging from personal transportation to commercial and recreational use. Vehicles in this segment offer enhanced performance compared to those operating on lower voltages, making them suitable for longer distances and higher-speed travel.

Greater than 48V:

The segment encompassing electric vehicles with voltages greater than 48V includes a diverse array of options, ranging from electric cars and buses to heavy-duty trucks and commercial vehicles. These vehicles require higher voltage systems to support larger motors, increased power output, and extended driving ranges. Greater than 48V electric vehicles are at the forefront of electrification efforts in the automotive industry, offering sustainable alternatives to traditional internal combustion engine vehicles and contributing to reduced emissions and environmental impact.

 

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Regional Insights

North America: With substantial investments in EV infrastructure and government incentives, North America showcases a growing interest in electric mobility. The region benefits from a strong manufacturing base and innovative technology hubs, driving advancements in electric vehicle adoption.

Europe: Leading the charge in electric mobility, Europe boasts stringent emissions regulations, robust charging infrastructure, and strong government support for EV adoption. Countries like Germany, Norway, and the Netherlands are at the forefront of electric vehicle innovation and deployment.

Asia-Pacific: Experiencing rapid growth in electric mobility, Asia-Pacific is fueled by countries like China, Japan, and South Korea investing heavily in EV manufacturing and infrastructure. Government subsidies, urbanization, and environmental concerns contribute to the region's burgeoning electric vehicle market.

Latin America: Emerging as a promising market for electric mobility, Latin America is witnessing growing interest in EVs driven by government policies and environmental awareness. Countries like Brazil and Mexico are investing in EV infrastructure to encourage adoption and reduce emissions.

Middle East & Africa: While still in the nascent stages, the Middle East & Africa are gradually embracing electric mobility initiatives. Efforts to diversify energy sources and reduce dependence on fossil fuels are driving interest in electric vehicles, with countries like the UAE and South Africa investing in EV infrastructure.

Recent Developments

  • VW will raise its e-mobility spending in December 2021. VW Group committed to increasing its electric mobility spending by 50% to USD 59 billion by 2026 in December 2021.
  • Nissan to Invest USD 18 Billion for EV Battery Development in November 2021 Nissan declared in November 2021 to devote USD 18 billion over the course of five years to the development of batteries for electric vehicles. The business actively invests in the development of high-capacity, reasonably priced batteries for electric cars.

Key Market Players

  • Tesla Inc
  • Nissan Motor Corporation
  • Bmw Motorrad
  • General Motors Company
  • Honda Motor Company Ltd.
  • BYD Company Ltd.
  • Accell Group
  • Volkswagen AG
  • Zero Motorcycles, Inc.


By Product

By Voltage

By Battery

By Region
  • Electric Cars
  • Electric Two Wheelers
  • Others
  • Less than 24V
  • 24V-48V
  • Greater than 48V
  • Sealed Lead Acid
  • NiMH
  • Li-ion
  • North America
  • Europe & CIS
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Electric Mobility Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Electric Mobility Market, By Product:

o   Electric Cars

o   Electric Two Wheelers

o   Others

  • Electric Mobility Market, By Voltage:

o   Less than 24V

o   24V-48V

o   Greater than 48V

  • Electric Mobility Market, By Battery:

o   Sealed Lead Acid

o   NiMH

o   Li-ion

  • Electric Mobility Market, By Region:

o   Asia-Pacific

§  China

§  India

§  Japan

§  Indonesia

§  Thailand

§  South Korea

§  Australia

o   Europe & CIS

§  Germany

§  Spain

§  France

§  Russia

§  Italy

§  United Kingdom

§  Belgium

o   North America

§  United States

§  Canada

§  Mexico

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Turkey

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Electric Mobility Market.

Available Customizations:

Global Electric Mobility market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Electric Mobility Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Global Electric Mobility Market

5.    Global Electric Mobility Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Product Market Share Analysis (Electric Cars, Electric Two Wheelers, Others)

5.2.2.    By Voltage Market Share Analysis (Less than 24V,24V-48V, and Greater than 48V)

5.2.3.    By Battery Market Share Analysis (Sealed Lead Acid, NiMH, Li-ion)

5.2.4.    By Regional Market Share Analysis

5.2.4.1.        Asia-Pacific Market Share Analysis

5.2.4.2.        Europe & CIS Market Share Analysis

5.2.4.3.        North America Market Share Analysis

5.2.4.4.        South America Market Share Analysis

5.2.4.5.        Middle East & Africa Market Share Analysis

5.2.5.    By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2023)

5.3.  Global Electric Mobility Market Mapping & Opportunity Assessment

5.3.1.    By Product Market Mapping & Opportunity Assessment

5.3.2.    By Voltage Market Mapping & Opportunity Assessment

5.3.3.    By Battery Market Mapping & Opportunity Assessment

5.3.4.    By Regional Market Mapping & Opportunity Assessment

6.    Asia-Pacific Electric Mobility Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value  

6.2.  Market Share & Forecast

6.2.1.    By Product Market Share Analysis

6.2.2.    By Voltage Market Share Analysis

6.2.3.    By Battery Market Share Analysis

6.2.4.    By Country Market Share Analysis

6.2.4.1.        China Market Share Analysis

6.2.4.2.        India Market Share Analysis

6.2.4.3.        Japan Market Share Analysis

6.2.4.4.        Indonesia Market Share Analysis

6.2.4.5.        Thailand Market Share Analysis

6.2.4.6.        South Korea Market Share Analysis

6.2.4.7.        Australia Market Share Analysis

6.2.4.8.        Rest of Asia-Pacific Market Share Analysis

6.3.  Asia-Pacific: Country Analysis

6.3.1.    China Electric Mobility Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value  

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Product Market Share Analysis

6.3.1.2.2.           By Voltage Market Share Analysis

6.3.1.2.3.           By Battery Market Share Analysis

6.3.2.    India Electric Mobility Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value  

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Product Market Share Analysis

6.3.2.2.2.           By Voltage Market Share Analysis

6.3.2.2.3.           By Battery Market Share Analysis

6.3.3.    Japan Electric Mobility Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value  

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Product Market Share Analysis

6.3.3.2.2.           By Voltage Market Share Analysis

6.3.3.2.3.           By Battery Market Share Analysis

6.3.4.    Indonesia Electric Mobility Market Outlook

6.3.4.1.        Market Size & Forecast

6.3.4.1.1.           By Value  

6.3.4.2.        Market Share & Forecast

6.3.4.2.1.           By Product Market Share Analysis

6.3.4.2.2.           By Voltage Market Share Analysis

6.3.4.2.3.           By Battery Market Share Analysis

6.3.5.    Thailand Electric Mobility Market Outlook

6.3.5.1.        Market Size & Forecast

6.3.5.1.1.           By Value  

6.3.5.2.        Market Share & Forecast

6.3.5.2.1.           By Product Market Share Analysis

6.3.5.2.2.           By Voltage Market Share Analysis

6.3.5.2.3.           By Battery Market Share Analysis

6.3.6.    South Korea Electric Mobility Market Outlook

6.3.6.1.        Market Size & Forecast

6.3.6.1.1.           By Value  

6.3.6.2.        Market Share & Forecast

6.3.6.2.1.           By Product Market Share Analysis

6.3.6.2.2.           By Voltage Market Share Analysis

6.3.6.2.3.           By Battery Market Share Analysis

6.3.7.    Australia Electric Mobility Market Outlook

6.3.7.1.        Market Size & Forecast

6.3.7.1.1.           By Value  

6.3.7.2.        Market Share & Forecast

6.3.7.2.1.           By Product Market Share Analysis

6.3.7.2.2.           By Voltage Market Share Analysis

6.3.7.2.3.           By Battery Market Share Analysis

7.    Europe & CIS Electric Mobility Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value  

7.2.  Market Share & Forecast

7.2.1.    By Product Market Share Analysis

7.2.2.    By Voltage Market Share Analysis

7.2.3.    By Battery Market Share Analysis

7.2.4.    By Country Market Share Analysis

7.2.4.1.        Germany Market Share Analysis

7.2.4.2.        Spain Market Share Analysis

7.2.4.3.        France Market Share Analysis

7.2.4.4.        Russia Market Share Analysis

7.2.4.5.        Italy Market Share Analysis

7.2.4.6.        United Kingdom Market Share Analysis

7.2.4.7.        Belgium Market Share Analysis

7.2.4.8.        Rest of Europe & CIS Market Share Analysis

7.3.  Europe & CIS: Country Analysis

7.3.1.    Germany Electric Mobility Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value  

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Product Market Share Analysis

7.3.1.2.2.           By Voltage Market Share Analysis

7.3.1.2.3.           By Battery Market Share Analysis

7.3.2.    Spain Electric Mobility Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value  

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Product Market Share Analysis

7.3.2.2.2.           By Voltage Market Share Analysis

7.3.2.2.3.           By Battery Market Share Analysis

7.3.3.    France Electric Mobility Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value  

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Product Market Share Analysis

7.3.3.2.2.           By Voltage Market Share Analysis

7.3.3.2.3.           By Battery Market Share Analysis

7.3.4.    Russia Electric Mobility Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value  

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Product Market Share Analysis

7.3.4.2.2.           By Voltage Market Share Analysis

7.3.4.2.3.           By Battery Market Share Analysis

7.3.5.    Italy Electric Mobility Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value  

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Product Market Share Analysis

7.3.5.2.2.           By Voltage Market Share Analysis

7.3.5.2.3.           By Battery Market Share Analysis

7.3.6.    United Kingdom Electric Mobility Market Outlook

7.3.6.1.        Market Size & Forecast

7.3.6.1.1.           By Value  

7.3.6.2.        Market Share & Forecast

7.3.6.2.1.           By Product Market Share Analysis

7.3.6.2.2.           By Voltage Market Share Analysis

7.3.6.2.3.           By Battery Market Share Analysis

7.3.7.    Belgium Electric Mobility Market Outlook

7.3.7.1.        Market Size & Forecast

7.3.7.1.1.           By Value  

7.3.7.2.        Market Share & Forecast

7.3.7.2.1.           By Product Market Share Analysis

7.3.7.2.2.           By Voltage Market Share Analysis

7.3.7.2.3.           By Battery Market Share Analysis

8.    North America Electric Mobility Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value  

8.2.  Market Share & Forecast

8.2.1.    By Product Market Share Analysis

8.2.2.    By Voltage Market Share Analysis

8.2.3.    By Battery Market Share Analysis

8.2.4.    By Country Market Share Analysis

8.2.4.1.        United States Market Share Analysis

8.2.4.2.        Mexico Market Share Analysis

8.2.4.3.        Canada Market Share Analysis

8.3.  North America: Country Analysis

8.3.1.    United States Electric Mobility Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value  

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Product Market Share Analysis

8.3.1.2.2.           By Voltage Market Share Analysis

8.3.1.2.3.           By Battery Market Share Analysis

8.3.2.    Mexico Electric Mobility Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value  

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Product Market Share Analysis

8.3.2.2.2.           By Voltage Market Share Analysis

8.3.2.2.3.           By Battery Market Share Analysis

8.3.3.    Canada Electric Mobility Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value  

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Product Market Share Analysis

8.3.3.2.2.           By Voltage Market Share Analysis

8.3.3.2.3.           By Battery Market Share Analysis

9.    South America Electric Mobility Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value  

9.2.  Market Share & Forecast

9.2.1.    By Product Market Share Analysis

9.2.2.    By Voltage Market Share Analysis

9.2.3.    By Battery Market Share Analysis

9.2.4.    By Country Market Share Analysis

9.2.4.1.        Brazil Market Share Analysis

9.2.4.2.        Argentina Market Share Analysis

9.2.4.3.        Colombia Market Share Analysis

9.2.4.4.        Rest of South America Market Share Analysis

9.3.  South America: Country Analysis

9.3.1.    Brazil Electric Mobility Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value  

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Product Market Share Analysis

9.3.1.2.2.           By Voltage Market Share Analysis

9.3.1.2.3.           By Battery Market Share Analysis

9.3.2.    Colombia Electric Mobility Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value  

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Product Market Share Analysis

9.3.2.2.2.           By Voltage Market Share Analysis

9.3.2.2.3.           By Battery Market Share Analysis

9.3.3.    Argentina Electric Mobility Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value  

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Product Market Share Analysis

9.3.3.2.2.           By Voltage Market Share Analysis

9.3.3.2.3.           By Battery Market Share Analysis

10.  Middle East & Africa Electric Mobility Market Outlook

10.1.            Market Size & Forecast

10.1.1. By Value   

10.2.            Market Share & Forecast

10.2.1. By Product Market Share Analysis

10.2.2. By Voltage Market Share Analysis

10.2.3. By Battery Market Share Analysis

10.2.4. By Country Market Share Analysis

10.2.4.1.     South Africa Market Share Analysis

10.2.4.2.     Turkey Market Share Analysis

10.2.4.3.     Saudi Arabia Market Share Analysis

10.2.4.4.     UAE Market Share Analysis

10.2.4.5.     Rest of Middle East & Africa Market Share Analysis

10.3.            Middle East & Africa: Country Analysis

10.3.1. South Africa Electric Mobility Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value  

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Product Market Share Analysis

10.3.1.2.2.         By Voltage Market Share Analysis

10.3.1.2.3.         By Battery Market Share Analysis

10.3.2. Turkey Electric Mobility Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value  

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Product Market Share Analysis

10.3.2.2.2.         By Voltage Market Share Analysis

10.3.2.2.3.         By Battery Market Share Analysis

10.3.3. Saudi Arabia Electric Mobility Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value  

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Product Market Share Analysis

10.3.3.2.2.         By Voltage Market Share Analysis

10.3.3.2.3.         By Battery Market Share Analysis

10.3.4. UAE Electric Mobility Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value  

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By Product Market Share Analysis

10.3.4.2.2.         By Voltage Market Share Analysis

10.3.4.2.3.         By Battery Market Share Analysis

11.  SWOT Analysis

11.1.            Strength

11.2.            Weakness

11.3.            Opportunities

11.4.            Threats

12.  Market Dynamics

12.1.            Market Drivers

12.2.            Market Challenges

13.  Market Trends and Developments

14.  Competitive Landscape

14.1.            Company Profiles (Up to 10 Major Companies)

14.1.1. Tesla Inc

14.1.1.1.     Company Details

14.1.1.2.     Key Product Offered

14.1.1.3.     Financials (As Per Availability)

14.1.1.4.     Recent Developments

14.1.1.5.     Key Management Personnel

14.1.2. Nissan Motor Corporation

14.1.2.1.     Company Details

14.1.2.2.     Key Product Offered

14.1.2.3.     Financials (As Per Availability)

14.1.2.4.     Recent Developments

14.1.2.5.     Key Management Personnel

14.1.3. Bmw Motorrad

14.1.3.1.     Company Details

14.1.3.2.     Key Product Offered

14.1.3.3.     Financials (As Per Availability)

14.1.3.4.     Recent Developments

14.1.3.5.     Key Management Personnel

14.1.4. General Motors Company

14.1.4.1.     Company Details

14.1.4.2.     Key Product Offered

14.1.4.3.     Financials (As Per Availability)

14.1.4.4.     Recent Developments

14.1.4.5.     Key Management Personnel

14.1.5. Honda Motor Company Ltd.

14.1.5.1.     Company Details

14.1.5.2.     Key Product Offered

14.1.5.3.     Financials (As Per Availability)

14.1.5.4.     Recent Developments

14.1.5.5.     Key Management Personnel

14.1.6. BYD Company Ltd

14.1.6.1.     Company Details

14.1.6.2.     Key Product Offered

14.1.6.3.     Financials (As Per Availability)

14.1.6.4.     Recent Developments

14.1.6.5.     Key Management Personnel

14.1.7. Accell Group.

14.1.7.1.     Company Details

14.1.7.2.     Key Product Offered

14.1.7.3.     Financials (As Per Availability)

14.1.7.4.     Recent Developments

14.1.7.5.     Key Management Personnel

14.1.8. Volkswagen AG.

14.1.8.1.     Company Details

14.1.8.2.     Key Product Offered

14.1.8.3.     Financials (As Per Availability)

14.1.8.4.     Recent Developments

14.1.8.5.     Key Management Personnel

14.1.9. Zero Motorcycles, Inc.

14.1.9.1.     Company Details

14.1.9.2.     Key Product Offered

14.1.9.3.     Financials (As Per Availability)

14.1.9.4.     Recent Developments

14.1.9.5.     Key Management Personnel

15.  Strategic Recommendations

15.1.            Key Focus Areas

15.1.1. Target Regions

15.1.2. Target Product

15.1.3. Target By Voltage

16.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Electric Mobility Market was estimated to be USD 230.12 billion in 2023.

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This market is divided into four sections based on voltage: less than 24V, 24V-48V, and greater than 48V. The 24V segment led the market. These batteries are extremely popular among a wide range of electric vehicles due to their high compatibility. The 24V battery system delivers a significant amount of power to meet the various functional requirements of electric vehicles. Furthermore, a 24V battery system allows for smaller and lighter wiring harnesses. As a result, rising demand, high compatibility, and efficient vehicle operation are likely to propel the segment forward.

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The dominant region in the Global Electric Mobility Market is Europe & CIS. With stringent emissions regulations, robust charging infrastructure, and strong government support, countries like Germany, Norway, and the Netherlands lead in electric vehicle adoption, innovation, and deployment, making Europe a frontrunner in the transition towards sustainable transportation solutions.

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Technological Advancements in Battery Technology, Changing Consumer Preferences and Increased Awareness are the major drivers for the Global Electric Mobility Market

Related Reports

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Srishti Verma

Business Consultant
Press Release

Electric Mobility Market to Grow 6.07% CAGR Through to 2029

Feb, 2024

Technological Advancements in Battery Technology, Changing Consumer Preferences and Increased Awareness are factors driving the Global Electric Mobility market in the forecast period 2025-2029.

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