- Overall Industry Analysis 2025
Progressive Markets published a report, Electric Vehicle Market Size, Trend, Share, Opportunity Analysis & Forecast, 2014-2025, which says that the electric vehicle market is expected to grow $ 152,488 million at a CAGR of 5.76% during the forecast period, 2018 - 2025.
Electric vehicles came into existence in the mid-19th century. Making use of one or more electric motors for propulsion, they are either partially or fully dependent on electricity for power generation. The electricity used in the vehicle can come from an electric power grid or be produced onboard. Electric vehicles are powered either by a collector system via electricity from charging station deployments or can be charged by self-charging devices such as regenerative braking systems, turbochargers, etc. Some examples of electric vehicles include electric cars, electric trains, electric submarines, and electric aircrafts.
Market Drivers and Restraints:
The electric vehicle market report identifies the drivers and restraints impacting the growth of the industry. The first factor driving the growth of the market is the rise in demand for fuel efficient, high performance, and low emission vehicles. Moreover, strict government rules and regulations for the reduction in vehicular emission in many countries as well as the growth of public charging infrastructure in several developed countries are fueling the growth of the electric vehicle industry. Furthermore, technical innovations in electric vehicles and active government initiatives provide opportunities for growth of the market. On the other hand, the high manufacturing cost of electric vehicles as well as low fuel economy & serviceability act as impediments to the growth of the market.
The report performs a deep analysis of the electric vehicle market based on its segmentation. The market is divided based on type, vehicle type, and geography. Based on type, the market is classified as Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), and Plug-in Hybrid Electric Vehicle (PHEV). Based on vehicle type, the market is divided into two-wheeler, passenger car (PC), and commercial vehicle (CV). The electric vehicle market analysis has been done for the various geographical regions such as North America, Europe, Asia-Pacific, and LAMEA. The market analysis in North America covers Canada, Mexico, and the U.S. The market analysis in Europe covers Germany, UK, Russia, France, Spain, and Italy. In Asia-Pacific, the study covers the regions such as Brazil, Argentina, South Africa, UAE, Saudi Arabia, Chile, and others. The market study in LAMEA covers Latin America, Middle East, and Africa.
Key Market Players:
The market research report includes a mention of the key players participating in the electric vehicle market. They include General Motors, Daimler AG, BMW Group, Volkswagen AG, Nissan Motor Corporation, Ford Motor Company, Tesla, Toyota Motor Corporation, BYD Company Motors, and Energica Motor Company S.P.A.
Key Benefits from the Report:
The report explains the global electric vehicle market with the help of electric vehicle market trends, electric vehicle market size, market share analysis, market forecast, market dynamics, Porters analysis, key market segments, and company profiles. The report is a valuable resource for market players, investors, stakeholders, and new entrants. It helps them identify the opportunities for growth in the industry and take wise decisions to achieve long-term business goals and success. The data in the report is a result of an extensive primary and secondary research along with opinions from industry experts. The electric vehicle industry statistics and charts further support to the data in the report. The electric vehicle market size helps determine the market potential, the number of target customers, and the market penetration rate. The electric vehicle market share analysis assists to assess the total sales that are earned by an individual player in the market over a certain period. The electric vehicle market forecast projects the future numbers, characteristics, and trends in the industry. The market drivers and restraints help understand the reasons for the rise and fall of the market. The Porters Five Forces Analysis helps assess the level of competition in the market with the help of five forces in the model. The report also includes details about the key players participating in the industry such as their financial segments and recent developments. These insights help market players and new entrants make informed business decisions to strengthen their foothold in the industry and achieve their business goals.
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