Automotive for Electric Vehicles Market
Automotive for Electric Vehicles Market Global Industry Assessment & Forecast
#
Pages:
136
2021
Nov - 2021
VMR-2021-0589
Segments Covered
By
Types Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), Plug-in Hybrid Electric Vehicles (PHEV)
-
By
Application Two Whelers, Passenger Cars, Commercial Vehicles
Snapshot
 Forecast
Years:
|
2021 - 2028 |
 Historical
Years:
|
2016 - 2020 |
 Revenue
2021: |
2.8 Billion |
 Revenue 2028:
|
47.58 Billion |
 Revenue CAGR
(2021 - 2028): |
4.10% |
Fastest Growing Region (2022 -
2028)
|
Asia Pacific |
Customization Offered
Cross-segment Market Size and
Analysis
for Mentioned Segments- Additional Company Profiles (Upto 5
With
No Cost)
- Additional Countries (Apart From
Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request
Customization Speak To
Analyst
Research Methodology: Automotive for Electric Vehicles Market - Global Market Assessment, 2021 - 2028
Automotive for Electric Vehicles Market study involves the combination of secondary and primary research for data collection and utilizes a robust and veracious methodology to attain results on quantitative and qualitative analysis for specific market research studies. Moreover, Vantage Market Research utilizes tried and tested approaches to arrive at market-related projections. The research methodology is based on the 3-dimensional model consisting of 3 phases namely: Secondary Research, Primary Research, and Data Triangulation. After the exhaustive secondary research, the procured information is revalidated through primary research.
Secondary Research
Primary Research:
The primary research was conducted to gather further information and revalidate the data collected from the secondary research. Moreover, primary research is also conducted to identify key players in the market and to gather their market-specific financial information. A typical primary interview fulfills data requirements pertaining to first-hand information on global market size, regional and segmental trends, competitive landscape expertise development, and market understandings among others.
Data Triangulation and Market Size Estimations
Top-down and bottom-up approaches are used to validate and estimate the market size of the Automotive for Electric Vehicles market. After the determination of the overall market size, the market is divided into various segments and sub-segments. Moreover, these same approaches mentioned above were used to derive and estimate market numbers for mentioned segments/sub-segments in the market. The data was triangulated by employing various data models and statistical techniques to arrive at exact statics and market size for each segment/sub-segment of the market. Moreover, region-wise product mapping analysis was used to gain some more insights on the competitive trend in the global Automotive for Electric Vehicles market.
FAQ
Frequently Asked Question
What is the global demand for Automotive for Electric Vehicles in terms of revenue?
-
The global Automotive for Electric Vehicles valued at 2.8 Billion in 2020 and is expected to reach 47.58 Billion in 2028 growing at a CAGR of 4.10%%.
Which are the prominent players in the market?
-
The prominent players in the market are Tesla, Daimler AG, Volkswagen AG, BYD Company Motors, Nissan Motor Corporation, Toyota Motor Corporation,General Motors, BMW Group, Energica Motor Company S.p.A, Ford Motor Company..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 4.10%% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Automotive for Electric Vehicles include
- The increasing stringent government regulations on vehicle emissions are anticipated to support the growth of the automotive for electric vehicle market over the forecast period. The major benefit of using electric vehicles is the contribution that they can make towards improving air quality overall. The pure electric vehicles produce no carbon dioxide emissions when driving which reduces air pollution considerably. Most of the economies like the U.S., Germany, France, and China have implemented government regulations for vehicle emission, and made it mandatory for the automobile manufacturers to use advanced technologies to reduce the high-emission levels in vehicles.
- The rising demand for fuel efficient and low emission vehicles is expected to augment the automotive for electric vehicle market in the years to come. This is owing to the increased prices of petrol and diesel. Moreover, the electric vehicles are more economical than conventional vehicles. An electric vehicle converts over 50% of the electrical energy from the grid to power at the wheels, whereas in the case of gas-powered vehicle, it only converts about 17%–21% of the energy stored in gasoline. Owing to these factors the demand for advanced fuel-efficient technologies is increasing, and hence, in turn supporting the growth of the market.
Which region accounted for the largest share in the market?
-
Asia Pacific was the leading regional segment of the Automotive for Electric Vehicles in 2020.
