Global electric vehicle market value is anticipated to grow with an impressive CAGR during the forecast years on the backbone of surge in the demand of the electric vehicles to support clean environment. Surge in the production of the technological advancement in the electric vehicle with the incorporation of IoT and artificial intelligence further supports the growth of the global electric vehicle market in the upcoming five years. Although due to COVID-19 the automotive industry experienced restraints and the production as well as distribution of the automotives were largely affected, the concerns among the population reinstated the demands for the electric vehicle thereby driving the growth of the global electric vehicle market in the next five years. Chinese electric vehicles have established a significant consumer base all over the globe. Although recent years may see faster growth in the European countries; the countries like China, South Korea are expected to register largest consistent growth and sale shares in the future granting potential growth of the global electric vehicle market in the future years.

Rising Concern For Environment Promotes Market Growth

With toxicity of the air increasing rapidly, threat for environmental depletion and cause of various diseases are further enhancing. This has alerted the population as well as the governments to focus on methods that may decrease the environmental pollution and save the exhaustive natural fuel sources. With higher industrialization, growing globalization and increased combustion of the petroleum products, oil and gas further aids the demand for the alternative fuel source and thus drives the growth of the global electric vehicle market in the upcoming five years.

Total fuel burned energy consumption in the year 2020, was 557.10 exajoules. Burning of petroleum products are a major cause of carbon emissions that includes CO2 emissions from the natural gas. Automotive industry accounts for majority of these exhaustion if combustion of oil and petroleum products for fueling the vehicles are also considered. Thus, fueling the demands for the electric vehicles and the growth of the global electric vehicle market in the next five years.

Technological Advancement Drives Market Growth

Traditionally fuel cars have rapidly been overtaken by the demands of the electric vehicles. Along with the electric source of fuel, the vehicles are also adapting artificial intelligence and internet of things that intrigues the consumer preferences. Growing investments in the development of the electric vehicle charging infrastructures along with higher efficiency of the electric vehicle batteries further drive the growth of the global electric vehicle market in the upcoming five years.

Adoptions of in-dash navigation systems, automotives microcontrollers, vehicle to grid technology, advanced driver assistance systems, etc. are some of the advanced features rapidly gaining the popularity. With the use of internet based things in the electric vehicles also substantiate the growth of the global electric vehicle market in the next five years.


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Market Segmentation

The global electric vehicle market segmentation is based on vehicle type, propulsion, range, battery capacity, regional distribution, and competitive landscape discussed on the basis of vehicle type, (top 3 OEMs enlisted). Based on vehicle type, the market is further segmented into two-wheeler, passenger car, light commercial vehicle (LCV), and medium & heavy commercial vehicle (M&HCV). By propulsion, the market is fragmented into BEV, PHEV, and FCEV. Based on range, the market is also differentiated into 0-50 miles, 51-150 miles, 151-200 miles, 201-400 miles, and above 400 miles.

By battery capacity, the market is bifurcated into less than 50 kWh, 51 kWh to 100 kWh, 101 kWh to 200 kWh, 201 kWh to 300 kWh, and above 300 kWh. Based on competitional landscape, the market analysis discusses the fragmentation by vehicle type enlisting the top 3 OEM manufacturers for two-wheeler, passenger car, LCV, and M&HCV. The market analysis also studies the regional segmentation, divided among Asia-Pacific region, North American region, European region, South American region, and Middle East & African region.

Company Profile

A partial list of top 5 global leaders dealing, and manufacturing electric vehicle can be categorized in three types of the electric vehicles: two-wheeler, passenger car, commercial vehicle. The list may include following market leaders:

Two-Wheeler (Niu International, Yadea Technology Group Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Vmoto Soco Group, Energica Motor Company S.p.A.),

Passenger Car (Tesla Inc., Volkswagen AG, Renault Nissan Mitsubishi Alliance, Hyundai Motor Company, BMW AG),

Commercial Vehicle (BYD Auto Co., Ltd., Daimler AG, Ford Motor Company, Tata Motors Limited, Chanje Energy)

Attribute

Details

Base Year

2021

Historical Data

2017 – 2020

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments covered

·         Vehicle Type

·         Propulsion

·         Range

·         Battery Capacity

Regional scope

North America; Europe; Asia Pacific; South America; Middle East & Africa

Country scope

United States, Mexico, Canada, China, India, Japan, Thailand, Malaysia, Australia, South Korea, Germany, France, United Kingdom, Spain, Italy, Netherlands, Norway, Sweden, Brazil, Argentina, Colombia, South Africa, Saudi Arabia, UAE, Israel.

Key companies profiled

Two-Wheeler (Niu International, Yadea Technology Group Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Vmoto Soco Group, Energica Motor Company S.p.A.),

Passenger Car (Tesla Inc., Volkswagen AG, Renault Nissan Mitsubishi Alliance, Hyundai Motor Company, BMW AG),

Commercial Vehicle (BYD Auto Co., Ltd., Daimler AG, Ford Motor Company, Tata Motors Limited, Chanje Energy)

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, global electric vehicle market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Electric Vehicle Market, By Vehicle Type:
    • Two-Wheeler
    • Passenger Car
    • Light Commercial Vehicle (LCV)
    • Medium & Heavy Commercial Vehicle (M&HCV)
  • Electric Vehicle Market, By Propulsion:
    • BEV
    • PHEV
    • FCEV
  • Electric Vehicle Market, By Range:
    • 0-50 Miles
    • 51-150 Miles
    • 151-200 Miles
    • 201-400 Miles
    • Above 400 Miles
  • Electric Vehicle Market, By Battery Capacity:
    • Less Than 50 kWh
    • 51 kWh to 100 kWh
    • 101 kWh to 200 kWh
    • 201 kWh to 300 kWh
    • Above 300 kWh
  • Electric vehicle Market, By Region:
    • North America
      • United States
      • Mexico
      • Canada
    • Asia-Pacific
      • China
      • India
      • Japan
      • Thailand
      • Malaysia
      • Australia
      • South Korea
    • Europe
      • Germany
      • France
      • United Kingdom
      • Spain
      • Italy
      • Netherland
      • Norway
      • Sweden
    • South America
      • Brazil
      • Argentina
      • Colombia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
      • Israel

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global electric vehicle market.

Available Customizations:

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).

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1.    Product Overview

2.    Research Methodology

3.    Executive Summary

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

5.    Voice of Customer

5.1.  Factors Influencing Purchase Decision

5.2.  Aided Brand Recall and Unaided Brand Recall

5.3.  Brand Satisfaction Level

5.4.  Challenges and Unmet Needs

6.    Global Electric Vehicle Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value and Volume

6.2.  Market Share & Forecast

6.2.1.     By Vehicle Type (Two-Wheeler, Passenger Car, Light Commercial Vehicle (LCV), Medium & Heavy Commercial Vehicle (M&HCV))

6.2.2.     By Propulsion (BEV, PHEV, FCEV)

6.2.3.     By Range (0-50 Miles, 51-150 Miles, 151-200 Miles, 201-400 Miles, Above 400 Miles)

6.2.4.     By Battery Capacity (Less Than 50 kWh, 51 kWh to 100 kWh, 101 kWh to 200 kWh, 201 kWh to 300 kWh, Above 300 kWh)

6.2.5.     By Region (North America; Europe; Asia Pacific; South America and Middle East & Africa)

6.2.6.     By Company, By Vehicle Type (2021) (Top Three OEMs)

6.2.6.1.         Two-Wheeler

6.2.6.2.         Passenger Car

6.2.6.3.         LCV

6.2.6.4.         M&HCV

6.3.  Product Market Map (By Vehicle Type, By Propulsion, By Range, By Battery Capacity, By Region)

7.    North America Electric Vehicle Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value and Volume

7.2.  Market Share & Forecast

7.2.1.     By Vehicle Type

7.2.2.     By Propulsion

7.2.3.     By Range

7.2.4.     By Battery Capacity

7.2.5.     By Country (United States; Canada; Mexico)

7.3.  Product Market Map (By Vehicle Type, By Country)

7.4.  Product Benchmarking and Pricing Analysis

7.5.  North America: Country Analysis

7.5.1.     United States Electric Vehicle Market Outlook

7.5.1.1.         Market Size & Forecast

7.5.1.1.1.             By Value and Volume

7.5.1.2.         Market Share & Forecast

7.5.1.2.1.             By Vehicle Type

7.5.1.2.2.             By Propulsion

7.5.1.2.3.             By Range

7.5.1.2.4.             By Battery Capacity

7.5.2.     Canada Electric Vehicle Market Outlook

7.5.2.1.         Market Size & Forecast

7.5.2.1.1.             By Value and Volume

7.5.2.2.         Market Share & Forecast

7.5.2.2.1.             By Vehicle Type

7.5.2.2.2.             By Propulsion

7.5.2.2.3.             By Range

7.5.2.2.4.             By Battery Capacity

7.5.3.     Mexico Electric Vehicle Market Outlook

7.5.3.1.         Market Size & Forecast

7.5.3.1.1.             By Value and Volume

7.5.3.2.         Market Share & Forecast

7.5.3.2.1.             By Vehicle Type

7.5.3.2.2.             By Propulsion

7.5.3.2.3.             By Range

7.5.3.2.4.             By Battery Capacity

8.    Asia Pacific Electric Vehicle Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value and Volume

8.2.  Market Share & Forecast

8.2.1.     By Vehicle Type

8.2.2.     By Propulsion

8.2.3.     By Range

8.2.4.     By Battery Capacity

8.2.5.     By Country (China, India, Japan, South Korea, Australia, Malaysia, Thailand)

8.2.6.     Product Market Map (By Vehicle Type, By Country)

8.3.  Product Benchmarking and Pricing Analysis

8.4.  Asia Pacific: Country Analysis

8.4.1.     China Electric Vehicle Market Outlook

8.4.1.1.         Market Size & Forecast

8.4.1.1.1.             By Value and Volume

8.4.1.2.         Market Share & Forecast

8.4.1.2.1.             By Vehicle Type

8.4.1.2.2.             By Propulsion

8.4.1.2.3.             By Range

8.4.1.2.4.             By Battery Capacity

8.4.2.     India Electric Vehicle Market Outlook

8.4.2.1.         Market Size & Forecast

8.4.2.1.1.             By Value and Volume

8.4.2.2.         Market Share & Forecast

8.4.2.2.1.             By Vehicle Type

8.4.2.2.2.             By Propulsion

8.4.2.2.3.             By Range

8.4.2.2.4.             By Battery Capacity

8.4.3.     Japan Electric Vehicle Market Outlook

8.4.3.1.         Market Size & Forecast

8.4.3.1.1.             By Value and Volume

8.4.3.2.         Market Share & Forecast

8.4.3.2.1.             By Vehicle Type

8.4.3.2.2.             By Propulsion

8.4.3.2.3.             By Range

8.4.3.2.4.             By Battery Capacity

8.4.4.     Thailand Electric Vehicle Market Outlook

8.4.4.1.         Market Size & Forecast

8.4.4.1.1.             By Value and Volume

8.4.4.2.         Market Share & Forecast

8.4.4.2.1.             By Vehicle Type

8.4.4.2.2.             By Propulsion

8.4.4.2.3.             By Range

8.4.4.2.4.             By Battery Capacity

8.4.5.     Malaysia Electric Vehicle Market Outlook

8.4.5.1.         Market Size & Forecast

8.4.5.1.1.             By Value and Volume

8.4.5.2.         Market Share & Forecast

8.4.5.2.1.             By Vehicle Type

8.4.5.2.2.             By Propulsion

8.4.5.2.3.             By Range

8.4.5.2.4.             By Battery Capacity

8.4.6.     Australia Electric Vehicle Market Outlook

8.4.6.1.         Market Size & Forecast

8.4.6.1.1.             By Value and Volume

8.4.6.2.         Market Share & Forecast

8.4.6.2.1.             By Vehicle Type

8.4.6.2.2.             By Propulsion

8.4.6.2.3.             By Range

8.4.6.2.4.             By Battery Capacity

8.4.7.     South Korea Electric Vehicle Market Outlook

8.4.7.1.         Market Size & Forecast

8.4.7.1.1.             By Value and Volume

8.4.7.2.         Market Share & Forecast

8.4.7.2.1.             By Vehicle Type

8.4.7.2.2.             By Propulsion

8.4.7.2.3.             By Range

8.4.7.2.4.             By Battery Capacity

9.    Europe Electric Vehicle Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value and Volume

9.2.  Market Share & Forecast

9.2.1.     By Vehicle Type

9.2.2.     By Propulsion

9.2.3.     By Range

9.2.4.     By Battery Capacity

9.2.5.     By Country (Germany, France, United Kingdom, Spain, Italy, Netherlands, Norway, Sweden)

9.3.  Product Market Map (By Vehicle Type, By Country)

9.4.  Product Benchmarking and Pricing Analysis

9.5.  Europe: Country Analysis

9.5.1.     Germany Electric Vehicle Market Outlook

9.5.1.1.         Market Size & Forecast

9.5.1.1.1.             By Value and Volume

9.5.1.2.         Market Share & Forecast

9.5.1.2.1.             By Vehicle Type

9.5.1.2.2.             By Propulsion

9.5.1.2.3.             By Range

9.5.1.2.4.             By Battery Capacity

9.5.2.     France Electric Vehicle Market Outlook

9.5.2.1.         Market Size & Forecast

9.5.2.1.1.             By Value and Volume

9.5.2.2.         Market Share & Forecast

9.5.2.2.1.             By Vehicle Type

9.5.2.2.2.             By Propulsion

9.5.2.2.3.             By Range

9.5.2.2.4.             By Battery Capacity

9.5.3.     United Kingdom Electric Vehicle Market Outlook

9.5.3.1.         Market Size & Forecast

9.5.3.1.1.             By Value and Volume

9.5.3.2.         Market Share & Forecast

9.5.3.2.1.             By Vehicle Type

9.5.3.2.2.             By Propulsion

9.5.3.2.3.             By Range

9.5.3.2.4.             By Battery Capacity

9.5.4.     Spain Electric Vehicle Market Outlook

9.5.4.1.         Market Size & Forecast

9.5.4.1.1.             By Value and Volume