EV Market Size, Share & Trends Analysis, By Type (Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle), By Vehicle Type (Two-Wheelers, Passenger Cars), By Vehicle Class (Mid-Priced, Luxury), By Region and Forecast Period 2023 – 2030 (Updated Version Available)

Report ID - MRC_4477 | Pages - 249 | Category - Automotive Services

EV Market Insights:

The EV Market size was valued at USD 227.75 Billion in 2022, expecting a CAGR of 18.1% during the forecast period (2023-2030), and the market is projected to be worth USD 861.9 Billion by 2030.

Driver:                                                                

The increased adoption of EV in the Automotive & Transportation industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for EV also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of EV in many sectors also boosts the market growth during the forecast period.

How much is the EV Market worth ?

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EV stands for Electric Vehicle, which is a type of vehicle that is powered by an electric motor and a battery pack instead of an internal combustion engine that uses gasoline or diesel fuel. Electric vehicles have gained popularity in recent years due to their lower emissions, improved performance, and reduced operating costs. They come in various types, including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hybrid electric vehicles (HEVs).

EV Market Research Report” was just released by Market Research Community. It is divided into several categories, including By Type (Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle, Fuel Cell Electric Vehicle), By Vehicle Type (Two-Wheelers, Passenger Cars, Commercial Vehicles), By Vehicle Class (Mid-Priced, Luxury), and companies (Tata Motors, Ampere Vehicles, Benling India Energy and Technology Pvt Ltd, BMW AG, BYD Company Limited, Chevrolet Motor Company, Daimler AG, Energica Motor Company S.p.A., Ford Motor Company, General Motors, Hero Electric, Hyundai Motor Company, Karma Automotive, Kia Corporation, Lucid Group, Inc., Mahindra Electric Mobility Limited, NIO, Nissan Motors Co., Ltd., Okinawa Autotech Pvt. Ltd., Rivain), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 18.1%, over the forecast period of 2023–2030.

Report Coverage:

Report Attributes Report Details
Study Timeline 2017-2030
Market Size in 2030 (USD Billion) 861.9 Billion
CAGR (2023-2030) 18.1%
By Type      Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle, Fuel Cell Electric Vehicle
By Vehicle Type   Two-Wheelers, Passenger Cars, Commercial Vehicles
By Vehicle Class Mid-Priced, Luxury
By Geography North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Key Players Tata Motors, Ampere Vehicles, Benling India Energy and Technology Pvt Ltd, BMW AG, BYD Company Limited, Chevrolet Motor Company, Daimler AG, Energica Motor Company S.p.A., Ford Motor Company, General Motors, Hero Electric, Hyundai Motor Company, Karma Automotive, Kia Corporation, Lucid Group, Inc., Mahindra Electric Mobility Limited, NIO, Nissan Motors Co., Ltd., Okinawa Autotech Pvt. Ltd., Rivain

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Covid-19 Impact:

The COVID-19 pandemic has had a substantial negative influence on the EV market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.

Industry Competitive Landscape:

The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-

Tata Motors, Ampere Vehicles, Benling India Energy and Technology Pvt Ltd, BMW AG, BYD Company Limited, Chevrolet Motor Company, Daimler AG, Energica Motor Company S.p.A., Ford Motor Company, General Motors, Hero Electric, Hyundai Motor Company, Karma Automotive, Kia Corporation, Lucid Group, Inc., Mahindra Electric Mobility Limited, NIO, Nissan Motors Co., Ltd., Okinawa Autotech Pvt. Ltd., Rivain

Market Segment Analysis:

By Type     

  • Battery Electric Vehicle
  • Plug-in Hybrid Electric Vehicle
  • Fuel Cell Electric Vehicle

By Vehicle Type  

  • Two-Wheelers
  • Passenger Cars
  • Commercial Vehicles

By Vehicle Class 

  • Mid-Priced
  • Luxury

Region

The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2022, some of these regions expected to contribute the largest share during the forecast period.

The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of EV industries in the region.

Key EV Market Trends

– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global EV Market segments.

– Largest Market Share Held by Industry to Industry for EV

– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.

– Demand from the geographical area is estimated to boost growth.

– Growing Market Segment Adoption in the EV Industry

– Over the forecast period, higher growth rates are anticipated in in some regions

Why Purchase the Industry Report by MRC

There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.

Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.

Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.

The competitive landscape includes the proportions of important players, recent innovations, and strategy.

Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.

Table of Content

To check our Table of Contents, please mail us at: [email protected]

Research Methodology

The Market Research Community offers numerous solutions and its full addition in the research methods to be skilled at each step. We use wide-ranging resources to produce the best outcome for our customers. The achievement of a research development is completely reliant on the research methods implemented by the company. We always faithful to our clients to find opportunities by examining the global market and offering economic insights.

Market Research Community are proud of our widespread coverage that encompasses the understanding of numerous major industry domains. Company offers consistency in our research report, we also offers on the part of the analysis of forecast across a range of coverage geographies and coverage. The research teams carry out primary and secondary research to carry out and design the data collection methods.

EV Market Size, Share & Trends Analysis, By Type (Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle), By Vehicle Type (Two-Wheelers, Passenger Cars), By Vehicle Class (Mid-Priced, Luxury), By Region and Forecast Period 2023 – 2030 (Updated Version Available)
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