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Electric Vehicle Market

Electric Vehicle Market

Electric Vehicle Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:


Base Year:



Feb - 2024



Report Code:


Segments Covered
  • By Vehicle Type By Vehicle Type Passenger Vehicles, Commercial Vehicles
  • By Component By Component Battery Cells & Packs, On-Board Charge, Motor, Reducer, Fuel Stack, Power Control Unit, Battery Management System, Fuel Processor, Power Conditioner, Air Compressor, Humidifier
  • By Vehicle Class By Vehicle Class Low-priced, Mid-priced, Luxury
  • By Top Speed By Top Speed <125 MPH, >125 MPH
  • By Vehicle Drive Type By Vehicle Drive Type Front Wheel Drive, Rear Wheel Drive, All Wheel Drive
  • By Vehicle Connectivity By Vehicle Connectivity V2B or V2H, V2G, V2V, V2X
  • By Propulsion By Propulsion BEV, PHEV, FCEV
  • By End Use By End Use Private Vehicle, Commercial Fleets
  • By Region By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Base YearBase Year: 2023
Forecast YearsForecast Years: 2024 - 2032
Historical YearsHistorical Years: 2018 - 2022
Revenue 2023Revenue 2023: USD 392.4 Billion
Revenue 2032Revenue 2032: USD 1259.4 Billion
Revenue CAGRRevenue CAGR (2024 - 2032): 13.9%
Fastest Growing Region Fastest Growing Region (2024 - 2032) Asia Pacific
Largest Region Largest Region (2023): Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost) Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries) Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report Country/Region-specific Report
  • Go To Market Strategy Go To Market Strategy
  • Region Specific Market Dynamics Region Specific Market Dynamics
  • Region Level Market Share Region Level Market Share
  • Import Export Analysis Import Export Analysis
  • Production Analysis Production Analysis
  • Other Others Request Customization Speak To Analyst
Sr. No. Offering Report Coverage
1. Market Size In terms of Revenue (USD Million)
2. Historic Data 2018 to 2022
3. Forecast Data 2024 to 2032
4. Market Drivers, Restraints, Opportunities, & Regional Market Trends Yes
5. Market Attractiveness Analysis Yes
6. Segment Analysis Maximum Segments
7. Regional Coverage 5 Regions
8. Country Coverage Top 22 Countries
9. Competitive Landscape and Company Market Share Analysis Yes. Exhaustive information will be provided in two separate chapters of Competitive Landscape and Company Profiles.
10. Porter’s Five Forces Analysis Yes.
11. Value Chain Analysis Yes
12. PEST Analysis Yes
13. Regulatory Landscape Yes
14. Technology Landscape Yes
15. COVID-19 Impact Analysis Yes. Exhaustive information for Key Strategies Undertaken by Companies, Impact Assessment of the COVID-19 Pandemic by Region, along with Short-term and Long-term dynamics.
16. Top startups to watch out for Yes
17. Top 3 Trends to Watch Yes
18. Top 3 Strategies Followed by Major Players Yes
19. Top 3 Predictions by Vantage Market Research Yes
20. Discussion Guide Yes
21. Key Primary Respondents - VERBATIM Yes
22. Transcripts from the Primary Respondents Additional Cost USD 1,000
23. Others/Miscellaneous
Frequently Asked Question
  • The global Electric Vehicle valued at USD 392.4 Billion in 2023 and is expected to reach USD 1259.4 Billion in 2032 growing at a CAGR of 13.9%.

  • The prominent players in the market are Ampere Vehicles (India), Benling India Energy and Technology Pvt. Ltd. (India), BMW AG (Germany), BYD Company Ltd. (China), Chevrolet Motor Company (U.S.), Daimler AG (Germany), Energica Motor Company S.P.A. (Italy), Ford Motor Company (U.S.), General Motors (U.S.), Hero Electric (India), Hyundai Motor Company (South Korea), Karma Automotive (U.S.), Kia Corporation (South Korea), Lucid Group Inc. (U.S.), Mahindra Electric Mobility Limited (India), NIO (China), Nissan Motors Co. Ltd. (Japan), Okinawa Autotech Pvt. Ltd. (India), Rivain (U.S.), Tata Motors (India), Tesla Inc. (U.S.), Toyota Motor Corporation (Japan), Volkswagen AG (Germany), WM Motor (China), Xiaopeng Motors (China), Stellantis NV (Netherlands), SAIC Motor Corp. Ltd. (China).

  • The market is project to grow at a CAGR of 13.9% between 2024 and 2032.

  • The driving factors of the Electric Vehicle include

    • Reducing prices of batteries to support demand for cost-effective EVs

  • Asia Pacific was the leading regional segment of the Electric Vehicle in 2023.