According to a new market report published by Lucintel, the future of the global electric vehicle market looks promising with opportunities in battery, hybrid, and plug-in-hybrid electric vehicles market. The global electric vehicle market is expected to reach an estimated $563.7 billion by 2026 with a CAGR of 29.8% from 2020 to 2026. The major drivers for this market are increasing fuel prices, government subsidies as tax benefits to promote electric vehicles, and growing concerns for environmental pollution.
Browse 104 market data tables and 120 figures spread through 200 pages and in-depth TOC on “Global Electric Vehicle Market"
In this market, battery electric vehicles (BEV), hybrid electric vehicles (HEV), and plug-in-hybrid electric vehicles (PHEV) are the major electric vehicle types. On the basis of its comprehensive research, Lucintel forecasts that battery electric vehicle will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to the consumers’ demand for zero emission vehicles, and decreasing electric vehicle battery cost.
Within the electric vehicle market, battery electric vehicle will remain the largest vehicle type and it is expected to witness the highest growth over the forecast period due to increasing features such as, improvement in vehicle range per charge and charging infrastructure.
Asia Pacific will remain the largest region and it is also expected to witness the highest growth over the forecast period due to growing concerns on environmental pollution, government subsidies and tax rebates, and heavy investment from automaker in electric vehicle development.
Emerging trends, which have a direct impact on the dynamics of the market, include development of wireless charging infrastructure and introduction of multiple long-range EVs with low cost. Tesla, General Motors, Nissan Motor, Mitsubishi, Volkswagen, BMW, Ford, Mercedes Benz, Hyundai, and Kia Motor are the major manufacturers of electric vehicles.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global electric vehicle market by propulsion type, by vehicle type, by component type, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Electric Vehicle Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global electric vehicle market by propulsion type, by vehicle type, by component type, and region, as follows:
By Propulsion Type [Volume (Million Units) and $B shipment analysis for 2015 – 2026]
•Battery Electric Vehicles
•Hybrid & Plug-in-Hybrid Electric Vehicles
By Vehicle Type [Volume (Million Units) and $B shipment analysis for 2015 – 2026]
•Small Car
•Compact Car
•Mid-size Car
•Luxury Car
•SUVs & Crossover
•Others
By Component Type ($ Billion from 2015 to 2026)
•Independent Drive Component
•Battery
•Motor and Gearbox
•Charger
•Others
By Region [Volume (Million Units) and $B shipment analysis for 2015 – 2026]
•North America
oUS
oCanada
oMexico
•Europe
oNorway
oGermany
oUnited Kingdom
oFrance
oThe Netherlands
•Asia Pacific
oChina
oJapan
oKorea
oAustralia
oIndia
•The Rest of the World
oBrazil
oSouth Africa
oChile
This 200-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/electric-vehicle-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. We offer market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1.What are some of the most promising, high growth opportunities for the electric vehicle market by propulsion type (battery electric vehicles and hybrid & plug-in-hybrid electric vehicles), by vehicle type (compact car, luxury car, SUVs & crossover, small car, mid-size car, and others), by component type (independent drive component, battery, motor and gearbox, charger, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2.Which segments will grow at a faster pace and why?
Q.3.Which region will grow at a faster pace and why?
Q.4.What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5.What are the business risks and competitive threats in this market?
Q.6.What are the emerging trends in this market and the reasons behind them?
Q.7.What are some of the changing demands of customers in the market?
Q.8.What are the new developments in the market? Which companies are leading these developments?
Q.9.Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10.What are some of the competing services in this market and how big of a threat do they pose for loss of market share by service substitution?
Q.11.What M&A activity has occurred in the last 5 years and what has its impact been on the industry?