Huge Growth And Opportunities in Global Electric Vehicles Market Market Till 2023

Electric Vehicles Market 2018

Summary:

Global Electric Vehicles Market Information Report, By Technology (Battery Electric Vehicles, Hybrid Electric Vehicles and Plug-In Hybrid Electric Vehicles), By Vehicle Type (Passenger Cars, Commercial Vehicles and Two Wheelers), and By Region - Forecast To 2023

Market Synopsis of Global Electric Vehicles Market

The global electric vehicles market has experienced a potential growth over the past few year and it has been analyzed that the market will grow at the same pace during the forecast period. Electric vehicles market looks promising during the forecast period due to the major driving factors such as majorly influenced by the surge in demand of electric vehicle worldwide, increasing fuel prices, and expansion of global auto-manufacturers into new emerging markets and government initiatives and among others. On the other hand, emerging economies seeks more opportunities for electric vehicles will create ample scope for market growth. However, high prices of electric vehicles and underdeveloped aftermarket services could hinder the market growth. Global electric vehicles has very broad market in coming recent years. MRFR analysts has predicted that global electric vehicles market is expected to reach USD 356.5 billion by 2023 from USD 106.5 Billion in 2016 with a CAGR of 18.96.

The major players operating in this market includes Nissan Motor Company, Tesla Inc, Toyota Motor Corporation, Ford Motor Company, Volkswagen, BMW, General Motors, Daimler AG, Hyundai Motor Company, Mitsubishi Motors Corporation and among others.

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Market Segmentation of Global Electric Vehicles Market

The global electric vehicle market by technology has been segmented into battery electric vehicles, hybrid electric vehicles and plug-in hybrid electric vehicles. Among these technology, battery electric vehicles has accounted the largest market share of 51.40% in 2016 followed by hybrid electric vehicles. However, plug-in hybrid electric vehicles segment has registered the fastest growing segment with a CAGR of 21.75% during forecast period. Whereas, the global electric vehicle market by vehicle type has been segmented into passenger cars commercial vehicles and two wheelers. Among these vehicle types, passenger cars has accounted the largest market share of 68.20% in 2016 followed by commercial vehicles and two wheelers. However, passenger cars segment has registered the fastest growing segment with a CAGR of 19.93% during forecast period.

As per the MRFR, the demand for electric car is likely to increase in the coming time. More than 30 million American are likely to buy electric car as their next vehicle. This trend in majorly influenced by compliance and people commitment towards environmental concern and carbon reduction. Heading towards APAC region, China has named itself as the leading market for electric vehicles. In terms of market development, China has sold more than 507,000 electric vehicles and plug-in hybrid electric vehicle in 2016, which was around 53% rise from 2015.followed by US and Europe. Moreover, the key market players are more inclined towards focusing on electric vehicles and have started offering EV range for models including hatchbacks, superminis, sedans, large family cars, vans and others. Additionally, it has been experienced that electric car positioning in European market is quiet fast. As in 2016, Norway electric car market share was around 29% which was estimated as the highest globally, followed by the Netherlands with 6.4%, and Sweden with 3.4%. The European electric car market is set to switch from early positioning to mass market adoption over the next decade. As per the associations, market analysis and recent statements of car manufacturers, there would be around 9 to 20 million electric car could be positioned by the year 2020 and around 40 to 70 million by 2025.

The report for Global Electric Vehicles Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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Table of Contents

1. EXECUTIVE SUMMARY
2. INTRODUCTION
3. RESEARCH METHODOLOGY
4. MARKET DYNAMICS
5. MARKET FACTOR ANALYSIS
6. GLOBAL ELECTRIC VEHICLE MARKET, BY TECHNOLOGY
7. GLOBAL ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE
8. GLOBAL ELECTRIC VEHICLE MARKET, BY REGION
9. COMPETITIVE LANDSCAPE
10. COMPANY PROFILES
11. LIST OF TABLES
12. LIST OF FIGURES

• Continued

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About Market Research Future: At Market Research Future (Mrfr), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (Crr), Half-Cooked Research Reports (Hcrr)