Global High-Performance Electric Vehicle Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Increasing environmental concerns, enactment of stringent emissions and increasing government initiatives to increase the adoption rate of EVss are expected to propel the demand for market

The Global High Performance Electric Vehicle Market is estimated to be USD 102.65 Bn in 2023 and is expected to reach USD 257.23 Bn by 2028 growing at a CAGR of 20.17%.

The demand for High-Performance electric vehicles is increasing due to growing concerns over climate change and air pollution. For instance, the European Union has formed a regulation to reduce the CO2 emissions of light and medium commercial vehicles by 15% before 2025. Governments worldwide also provide subsidies for EVs to promote their adoption and reduce greenhouse gas emissions. China, for example, offers purchase subsidies, tax exemptions, and free license plates, while the US offers tax credits and rebates. Countries like the UK, Norway, and France also offer various incentives. Furthermore, technological advancements have made energy storage systems more efficient and cost-effective for transport Applications. Solid-state batteries, for instance, have increased energy density and faster charging times, making them a more attractive option for powering EVs.

However, Electric vehicles (EVs) are superior to traditional fuel-based cars, though they are generally more expensive. One of the reasons for this is that EVs are not yet produced at scale, resulting in higher production costs. Furthermore, the lack of charging infrastructure for EVs has been a problem for the development of the market due to the absence of a network to power these vehicles. Manufacturers will also need to invest significantly in assets, which may hamper the market's growth. However, large-scale production of EV batteries, along with technological advancements, is expected to drive down the cost of these batteries over time; these factors might negatively impact the market's growth.

Market Segmentations

• The Global High-Performance Electric Vehicle Market is segmented based on Drive Type, Vehicle Type, and Geography.
• By Drive Type, the market is classified into Plug-In Hybrid and Pure Electric.
• The Plug-In Hybrid segment is predicted to hold the largest market share in upcoming years, due to dual options as fuel-based as well as electric. The demand for battery electric vehicles is gaining attention as private entities, as well as governments, are planning to deploy a web of charging infrastructure across the globe to support green energy usage.
• By Vehicle Type, the market is classified into Commercial Vehicles and Passenger Vehicle.
• Passenger Vehicles are predicted to grow with the highest CAGR in upcoming years. such as the sales of new vehicles and the increasing demand for luxury EVs. Luxury automakers are focusing more on providing different features in their vehicles. The movement can be seen throughout the market. In 2021, EV sales reached 8.9 Mn units. The European market captured more than 40% of the worldwide EV sales in 2021 compared to 2020.
• By Geography, the market is classified into Americas, Europe, Middle-East & Africa, and Asia-Pacific.
• The Asia-Pacific is predicted to grow with the highest CAGR in forecasting periods due to the increasing demand for passenger cars in developing regions. Also, many governments of this region provide subsidiaries for EVs. China accounts for the largest share in terms of passenger cars and other automobiles.

Recent Development

• General Motors announced that it would invest USD 760 Mn in its propulsion manufacturing operations in Toledo, Ohio. - September 2022
• The BMW Group unveiled the BMW XM. The high-performance hybrid vehicle has a wheelbase of 3,105 mm, is 5,110 mm long, 2,005 mm wide, and 1,755 mm high.- September 2022

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Alkè s.r.l, Ford Motor Company, Mitsubishi Motors Corp., Nissan Motor Company, Telsa Inc., Ltd, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle-East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global High-Performance Electric Vehicle Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global High-Performance Electric Vehicle Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global High-Performance Electric Vehicle Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market