Electric Vehicle Market is expected to grow at a CAGR of 5.76% by 2025

Electric Vehicle Market is Expected to Grow at a CAGR of 5.76% from 2018 to 2025

The global electric vehicle market was valued at $ 86,450 million in 2014 and is likely to garner $152,488 million in 2025, growing at a CAGR 5.76% of during the forecast period according to Progressive Markets report, Electric Vehicle Market Size, Trend, Share, Opportunity Analysis & Forecast, 2014-2025.

Access Full Summary at : https://www.progressivemarkets.com/industry-research/electric-vehicle-market

The report provides an in-depth analysis of the electric vehicle market for the historic period, 2014-2017 and the forecast period, 2018-2025. It incorporates the market size and share, market drivers and restraints, market outlook, key market segments, market trends, Porters Five Forces Analysis (PFFA), and key market player profiles. The report is a useful resource for market players, investors, and new entrants as it assists them to gain a strong foothold in the market and devise strategies to survive. The data in the report is a result of an extensive primary and secondary market research. Research methodology is offered in the study to show the methods employed to gather and validate data.

The report provides an executive summary of the global electric vehicle industry to help market players, new entrants, and investors understand the overall market conditions and determine strategies for growth and sustenance. Key findings are outlined in the study to assist market players to determine investment feasibility. Market attractiveness helps measure the potential value of the market while trends analysis helps predict the future changes in the price of a stock. The competitive landscape is offered to help industry players determine the competitive aura within the industry and take steps to gain a competitive edge.

The market landscape of the global electric vehicle market is provided in terms of the growth drivers, restraints and challenges, Porters analysis, and market share analysis. The drivers and restraints determine the rise and fall of the market. The factors fueling the market growth include the rise in demand for fuel efficient, high performance, and low emission vehicles, 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. 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 offers a detailed segmentation of the global electric vehicle market based on type, vehicle type, and geography. Based on the type, the market is classified as Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), and Plug-in Hybrid Electric Vehicle (PHEV). The BEV segment is expected to grow at a CAGR of 5.08% during the forecast period. The HEV segment is likely to garner $59,983 million in 2025 during the forecast period. Based on vehicle type, the market is divided into two-wheeler, passenger car (PC), and commercial vehicle (CV). The two-wheeler segment garnered $18,733 million in 2017 and is expected to grow at a CAGR of 5.08% during the forecast period. The PC segment is likely to garner $75,183 million in 2025. 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.

The report provides an extensive analysis of the key players operating in the global electric vehicle market. A business overview for each player is provided in the report to help market players and investors gain a comprehensive understanding of the existing competition and determine investment suitability. Furthermore, financial segments of each player are offered in the study. Recent developments by them are also discussed. Key market players noted in the study 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.

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