Electric Vehicle Market
Electric Vehicle Market - Global Industry Assessment & Forecast
#
Pages:
230
2023
Feb - 2024
VMR-1853
Segments Covered
By
Vehicle Type Passenger Vehicles, Commercial Vehicles
-
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 Low-priced, Mid-priced, Luxury
-
By
Top Speed <125 MPH, >125 MPH
-
By
Vehicle Drive Type Front Wheel Drive, Rear Wheel Drive, All Wheel Drive
-
By
Vehicle Connectivity V2B or V2H, V2G, V2V, V2X
-
By
Propulsion BEV, PHEV, FCEV
-
By
End Use Private Vehicle, Commercial Fleets
-
By
Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
 Base Year:
|
2023 |
| Forecast
Years:
|
2024 - 2032 |
 Historical
Years:
|
2018 - 2022 |
 Revenue
2023: |
USD 392.4 Billion |
 Revenue 2032:
|
USD 1259.4 Billion |
 Revenue CAGR
(2024 - 2032): |
13.9% |
Fastest Growing Region (2024 -
2032)
|
Asia Pacific |
Largest Region (2023):
|
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: Electric Vehicle Market by Vehicle Type by Component by Vehicle Class by Top Speed by Vehicle Drive Type by Vehicle Connectivity by Propulsion by End Use by Region - Global Market Assessment, 2021 - 2028
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 Electric Vehicle 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 Electric Vehicle market.
Vantage Market
Research | 26-Feb-2024
FAQ
Frequently Asked Question
What is the global demand for Electric Vehicle in terms of revenue?
-
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%.
Which are the prominent players in the market?
-
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).
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 13.9% between 2024 and 2032.
What are the driving factors fueling the growth of the market.
-
The driving factors of the Electric Vehicle include
- Reducing prices of batteries to support demand for cost-effective EVs
Which region accounted for the largest share in the market?
-
Asia Pacific was the leading regional segment of the Electric Vehicle in 2023.
