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Global Electric Vehicle Market by Component, Vehicle (Passenger Cars, CV), Propulsion (BEV, PHEV, FCEV), Vehicle Drive Type (FWD, RWD, AWD), Vehicle Top Speed (125 mph), Charging Point, Vehicle Class, V2G, and Region - Forecast 2030

  • ID: 5337979
  • Report
  • May 2021
  • Region: Global
  • 290 Pages
  • Markets and Markets
Global EV Market is Forecast to Reach 34,756 Thousand Units by 2030, Registering a CAGR of 26.8%

FEATURED COMPANIES

  • AB Volvo
  • Byton
  • Fisker
  • Hyundai Group
  • Nikola Corporation
  • Stellantis N.V.
  • MORE

The global electric vehicle market size is projected to reach 34,756 thousand units by 2030, from an estimated 4,093 thousand units in 2021, at a CAGR of 26.8%. Governments are supporting EV’s through subsidies & tax rebates for using low emission vehicles and working in collaboration with top automobile manufacturers to speed up the growth of their countries.

Increased demand for efficient and low emission vehicles along with government support amid the rising prices of petroleum will boost the electric vehicle market. Consumers from developing countries are already feeling the heat of the increasing cost of petrol. Electric vehicle use can reduce the operating cost of these vehicles. To make the Electric market grow, continued support from the government will be needed along with the growing research of EV batteries, EV charging systems and electric vehicles to reduce the initial cost of electric vehicles along with increasing vehicle range, reducing charging time and adding additional features to the EV’s.

However, the COVID-19 pandemic had an impact on the electric vehicle market in the first few months. Both the production and sales of EVs had come to a halt in the first few months of 2020 across the globe except China as the whole ecosystem had been disrupted. However, in the next two quarters, the sale of EV’s had been growing. OEMs had to wait until lockdowns were lifted to resume production, which affected their business. Post the pandemic, the demand for EV’s might increase, as people are getting increasingly conscious of reducing emissions from vehicles around the world and various governments setting up charging point networks across their countries during the second half of 2020 and beyond.

The Passenger vehicle Segment is expected to be the largest market in the vehicle segment in the forecast

Electric passenger car is the fastest-growing segment in the EV market and is expected to witness significant growth during the forecast period. The availability of a wide range of models, upgraded technology, increasing customer awareness, and availability of subsidies and tax rebates are the major factors driving the market. Major EV manufacturers like Tesla, BYD, BMW, Volkswagen, Nissan, Toyota, Honda, Hyundai, Daimler, Volvo, GM, SAIC, etc. have been strong players in the market. These companies have a strong market for their EV’s around the world. Passenger cars account for the largest share in the electric vehicle market. The demand for passenger cars has increased due to the increase in demand for electric vehicles. Countries such as China have a low waiting period for electric vehicles compared to that for ICE-powered vehicles. Due to the growing stringency of emission norms, European countries are planning to decrease their vehicle emissions by 2050. US and China also follow such an agreement. The fast growth of EV chargers has also led to the growth of the EV passenger car market.

Supercharging to be the fastest-growing recharging segment in the forecast period

Currently, Asia has the highest number of Superchargers in the world, while Europe stands the 2nd best. This is because people in Asian countries prefer to fast charge for their vehicles for daily use. Superchargers are projected to grow at a fast rate in all 3 regions, but mostly in North American region due to the fast-projected transformation to EV’s in US. In the European region, Superchargers exist mostly in countries like Norway, Netherlands, UK etc. In Asia, Superchargers exist mostly in China and some in Japan, South Korea, etc. Many countries have announced plans for a massive expansion of EV charging stations of both types in the next 5-10 years. In North America, many companies are collaborating with various states to speed up Supercharging infrastructure development. In the predicted period, Superchargers may grow fastest in the Asian region and 2nd highest in the North American Region.

Mid-Priced segment is expected to be largest in the Vehicle class segment in the forecast period

A mid-priced vehicle is considered to have a price below USD 45,000. This vehicle class has limited features with less emphasis on features like infotainment, instrument cluster, and other expensive features. China is one of the leading countries for the mid-priced segment. Companies such as BYD, Smart, and Great Wall Motors are manufacturing comparatively less expensive vehicles. Established automotive manufactures such as Hyundai, General Motors, Honda, and Nissan are manufacturing mid-priced EVs to acquire a greater market share. In April 2020, the world’s cheapest EV (Wuling HongGuang Mini EV) was launched in China. It cost around USD 5,000 and came with no additional features except traditional driving. This also became one of the top sold EV models in 2020. Some other mid-priced EV include Renault Twizy, Seat Mii electric, Fiat 500, VW e-up, MG5 EV, MG ZS EV, etc. Other companies like Hyundai, Honda, Toyota, etc. are working on developing low-cost EV’s for sale in Asian countries.

Research Coverage

The market study covers the Electric Vehicle Market by Component, Vehicle Type (Passenger Cars, Commercial Vehicles), Vehicle Class (Mid-priced, Luxury), Propulsion (BEV, PHEV, FCEV), Vehicle Drive Type (FWD, RWD, AWD), Vehicle Top Speed (<125 mph, >125 mph), Charging Point Type (Normal Charging, Super Charging), V2G, Region (Asia Pacific, Europe, North America, Middle East and Africa). It also covers the competitive landscape and company profiles of the major players in the electric vehicle market ecosystem.

The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies. The market is dominated by established players such as Tesla (US), BYD (China), Volkswagen AG (Germany), BMW Group (Germany) and Nissan Motors (Japan). The market ranking has been derived by considering a certain percentage of the segmental revenue for each of the companies mentioned above. These companies also offer extensive products and solutions for the automotive industry. These companies have strong distribution networks at the global level, and they invest heavily in R&D to develop new products.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.

  • By Company Type: Tier I - 59%, Tier II - 7%, and OEMs - 34%
  • By Designation: C Level Executives - 26%, Directors - 43%, and Others - 31%
  • By Region: North America - 26%, Europe - 39%, and Asia-Pacific - 35%

Key Benefits of Buying the Report

  • The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall electric vehicle market and its subsegments.
  • This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
  • The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • AB Volvo
  • Byton
  • Fisker
  • Hyundai Group
  • Nikola Corporation
  • Stellantis N.V.
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.2.1 Inclusions & Exclusions
Table 1 Inclusions & Exclusions for the Electric Vehicle Market
1.3 Market Scope
Figure 1 Electric Vehicle Market: Markets Covered
1.3.1 Years Considered for the Study
1.4 Package Size
1.5 Limitations
1.6 Stakeholders
1.7 Summary of Changes

2 Research Methodology
2.1 Research Data
Figure 2 Research Design
Figure 3 Research Methodology Model
2.1.1 Secondary Data
2.1.1.1 List of Key Secondary Sources
2.1.1.2 Key Data from Secondary Sources
2.1.2 Primary Data
Figure 4 Breakdown of Primary Interviews: by Company Type, Designation, & Region
2.1.2.1 List of Primary Participants
2.2 Market Estimation Methodology
Figure 5 Research Methodology: Hypothesis Building
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
Figure 6 Global Electric Vehicle Market Size: Bottom-Up Approach
2.3.2 Top-Down Approach
Figure 7 Market Size Estimation Methodology for Electric Vehicle Market: Top-Down Approach
Figure 8 Electric Vehicle Market: Research Design & Methodology
Figure 9 Research Approach: Electric Vehicle Market
Figure 10 Electric Vehicle Market: Research Design & Methodology - Demand Side
2.3.3 Factor Analysis for Market Sizing: Demand and Supply Sides
2.4 Data Triangulation
Figure 11 Data Triangulation
2.5 Factor Analysis
2.6 Research Assumptions
2.7 Research Limitations

3 Executive Summary
Figure 12 Electric Vehicle Market: Market Dynamics
Figure 13 Electric Vehicle Market, by Region, 2021-2030 (Thousand Units)
Figure 14 Lithium Ion Price
Figure 15 Potential Battery-Cell Cost Reductions
Figure 16 The FCEV Segment is Projected to Grow at the Highest CAGR During the Forecast Period (2021-2030)
Figure 17 Growing Electric & Autonomous Mobility Trends Would Create a Shift in Revenue Mix in Coming Years
Figure 18 COVID-19 Impact on Electric Vehicle Market, 2017-2030

4 Premium Insights
4.1 Attractive Opportunities in the Electric Vehicle Market
Figure 19 Increasing Demand for Zero-Emission Commuting to Drive the Market
4.2 Electric Vehicle Market Growth Rate, by Region
Figure 20 Asia-Pacific Estimated to Account for the Largest Share of the Market in 2021
4.3 Electric Vehicle Market, by Charging Point Type
Figure 21 Super Charging Segment to Grow at a Higher CAGR (2021-2027)
4.4 Electric Vehicle Market, by Vehicle Type
Figure 22 Passenger Car Segment Projected to Grow at a Higher CAGR During the Forecast Period (2021-2030)
4.5 Electric Vehicle Market, by Vehicle Class
Figure 23 Mid-Priced Segment to Account for a Larger Market Share During the Forecast Period (2021-2030)
4.6 Electric Vehicle Market, by Propulsion Type
Figure 24 FCEV Segment Projected to Grow at the Highest CAGR During the Forecast Period (2021-2030)
4.7 Electric Vehicle Market, by Vehicle Top Speed
Figure 25 >125 Mph Segment is Projected to Grow at a Higher CAGR During the Forecast Period (2021-2030)
4.8 Electric Vehicle Market, by Vehicle Drive Type
Figure 26 Rear Wheel Drive Segment is Projected to Grow at the Highest CAGR During the Forecast Period (2021-2030)

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 27 Electric Vehicle Market: Market Dynamics
5.2.1 Drivers
5.2.1.1 Reducing Prices of EV Batteries
Figure 28 EV Battery Pricing Analysis
5.2.1.2 Faster EV Charging
Table 2 Time Required to Charge Electric Vehicle
5.2.1.3 Rising Prices of Petroleum
Table 3 Average Petrol Prices in the US (2016-2020)
Figure 29 Oil Consumption Around the World During the Past Ten Years
5.2.1.4 Lower Operating Cost
Figure 30 Comparison of the Operating Cost of EVs and Ice Vehicles
5.2.1.5 Lower Emissions from EVs
Figure 31 Comparison of Emissions of EVs and Gasoline Vehicles
5.2.2 Restraints
5.2.2.1 High Initial Investments for Installing EV Fast Charging Infrastructure
Figure 32 Fuel Station Average Price Comparison for Different Fuels
5.2.2.2 Lack of Sufficient EV Charging Infrastructure
Figure 33 Country-Wise Comparison of EV Charger Density
5.2.2.3 Longer Charging Time Compared to Other Fuels
Figure 34 Charging Time Required to Charge Using Different Charging Point Types
5.2.2.4 Lower Vehicle Range
Figure 35 Top EV Model Range and Base Price in the US
5.2.3 Opportunities
5.2.3.1 Rising Demand for Electric Vehicles in the Automotive and Transportation Sectors
5.2.3.2 Government Initiatives Pertaining to EVs
5.2.3.3 Development of Private and Semi-Public EV Charging
Figure 36 Private, Semi-Public, and Public Charging
5.2.3.4 Development of Wireless EV Charging Technology for On-The-Go Charging
5.2.4 Challenges
5.2.4.1 High Cost of Vehicles
Figure 37 Cost Comparison of EV and Ice Vehicle
5.2.4.2 Insufficient Standardization of EV Charging Infrastructure
Figure 38 EV Chargers Used Around the World
Table 4 Electric Vehicle Market: Impact of Market Dynamics
5.3 Porter's Five Forces
Figure 39 Porter's Five Forces: Electric Vehicle Market
Table 5 Electric Vehicle Market: Impact of Porters Five Forces
5.3.1 Threat of Substitutes
5.3.2 Threat of New Entrants
5.3.3 Bargaining Power of Buyers
5.3.4 Bargaining Power of Suppliers
5.3.5 Rivalry Among Existing Competitors
5.4 Upcoming Electric Vehicle Models, 2021-2025
Table 6 Upcoming Electric Vehicle Models, 2021-2025
5.5 Top Selling EV Model Sales in 2020 (Worldwide in Thousands)
Figure 40 Top Selling EVs in 2020 Worldwide
5.6 Europe EV Sales (2019 & 2020)
Table 7 EV Sales Data (Thousands)
5.7 Electric Vehicle Market Ecosystem
Figure 41 Electric Vehicle Market: Ecosystem Analysis
Figure 42 Electric Vehicle Neural Network
5.7.1 EV Charging Providers
5.7.2 Tier I Suppliers
5.7.3 OEMs
5.7.4 End-users
Table 8 Electric Vehicle Market: Role of Companies in the Ecosystem
5.8 Value Chain Analysis
Figure 43 Value Chain Analysis of the Electric Vehicle Market
5.9 Electric Vehicle Pricing Analysis
Table 9 Electric Vehicle Market: Pricing of Popular BEVs (US)
Table 10 Electric Vehicle Market: Pricing of Popular PHEVs (US)
5.10 Technology Analysis
5.10.1 V2X Charging
5.10.2 Smart Charging System
Figure 44 Smart EV Charging System
5.10.3 Solid-State Battery (SSB)
5.10.4 IoT in Electric Vehicles
5.11 Patent Analysis
5.12 Case Study
5.12.1 Nissan Leaf in Durham County, North Carolina
5.13 Regulatory Overview
5.13.1 Netherlands
Table 11 Netherlands: Incentives for Electric Vehicles
Table 12 Netherlands: Electric Vehicle Charging Station Incentives
5.13.2 Germany
Table 13 Germany: Electric Vehicle Incentives
Table 14 Germany: Electric Vehicle Charging Station Incentives
5.13.3 France
Table 15 France: Electric Vehicle Incentives
Table 16 France: Electric Vehicle Charging Station Incentives
5.13.4 UK
Table 17 UK: Electric Vehicle Incentives
Table 18 UK: Electric Vehicle Charging Station Incentives
5.13.5 China
Table 19 China: Electric Vehicle Incentives
Table 20 China: Electric Vehicle Charging Station Incentives
5.13.6 US
Table 21 US: Electric Vehicle Incentives
Table 22 US: Electric Vehicle Charging Station Incentives
5.14 COVID-19 Impact Analysis
5.14.1 Impact of COVID-19 on Electric Vehicle Production
5.15 Electric Vehicle Market, Scenarios (2021-2030)
5.15.1 Electric Vehicle Market, Most Likely Scenario
Figure 45 Electric Vehicle Market - Future Trends & Scenarios, 2021-2030 (Thousand Units)
Figure 46 Scenario Analysis
5.15.2 Electric Vehicle Market, Optimistic Scenario
Table 23 Electric Vehicle Market (Optimistic), by Region, 2021-2030 (Thousand Units)
5.15.3 Electric Vehicle Market, Pessimistic Scenario
Table 24 Electric Vehicle Market (Pessimistic), by Region, 2021-2030 (Thousand Units)

6 Electric Vehicle Market, by Charging Point Type
6.1 Introduction
Figure 47 Super Charging Segment is Projected to Grow at a Higher CAGR During the Forecast Period (2021-2027)
Table 25 Electric Vehicle Market, by Charging Point Type, 2017-2020 (Thousand Units)
Table 26 Electric Vehicle Market, by Charging Point Type, 2021-2027 (Thousand Units)
6.2 Operational Data
Table 27 Popular EV Charging Providers Across the World
6.2.1 Assumptions
Table 28 Assumptions: by Charging Point Type
6.3 Research Methodology
6.4 Normal Charging
6.4.1 Increased Adoption of Electric Vehicles Expected to Boost Demand
Table 29 Normal Charging: Electric Vehicle Market, by Region, 2017-2020 (Thousand Units)
Table 30 Normal Charging: Electric Vehicle Market, by Region, 2021-2027 (Thousand Units)
6.5 Super Charging
6.5.1 Demand for Fast Charging Points Expected to Boost the Demand for Super Charging
Table 31 Super Charging: Electric Vehicle Market, by Region, 2017-2020 (Thousand Units)
Table 32 Super Charging: Electric Vehicle Market, by Region, 2021-2027 (Thousand Units)
6.6 Inductive Charging
6.7 Key Primary Insights
Figure 48 Key Primary Insights

7 Electric Vehicle Market, by Component
7.1 Introduction
7.2 Battery Cells and Packs
7.3 Onboard Charger
7.4 Motor
7.5 Reducer
7.6 Power Control Unit
7.7 Battery Management System
7.8 Fuel Cell Stack
7.9 Fuel Processor
7.10 Power Conditioner
7.11 Air Compressor
7.12 Humidifier

8 Electric Vehicle Market, by Propulsion Type
8.1 Introduction
Table 33 Electric Vehicle Market, by Propulsion Type, 2017-2020 (Thousand Units)
Table 34 Electric Vehicle Market, by Propulsion Type, 2021-2030 (Thousand Units)
Figure 49 FCEV Segment is Projected to Grow at the Highest CAGR During the Forecast Period (2021-2030)
8.2 Operational Data
Table 35 EVs Across the World
8.2.1 Assumptions
Table 36 Assumptions: by Propulsion Type
8.3 Research Methodology
8.4 Battery Electric Vehicle (BEV)
8.4.1 Increase in Vehicle Range Per Charge Expected to Boost Demand
Table 37 BEV: Electric Vehicle Market, by Region, 2017-2020 (Thousand Units)
Table 38 BEV: Electric Vehicle Market, by Region, 2021-2030 (Thousand Units)
8.5 Fuel Cell Electric Vehicle (FCEV)
8.5.1 Demand for Zero Emission Vehicles Will Uplift the Market
Table 39 FCEV: Electric Vehicle Market, by Region, 2017-2020 (Thousand Units)
Table 40 FCEV: Electric Vehicle Market, by Region, 2021-2030 (Thousand Units)
8.6 Plug-In Hybrid Electric Vehicle (PHEV)
8.6.1 Government Provision of Tax Benefits and Incentives Expected to Boost Demand
Table 41 PHEV: Electric Vehicle Market, by Region, 2017-2020 (Thousand Units)
Table 42 PHEV: Electric Vehicle Market, by Region, 2021-2030 (Thousand Units)
8.7 Hybrid Electric Vehicle (HEV)
8.8 Key Primary Insights

9 Electric Vehicle Market, by Vehicle Class
9.1 Introduction
Table 43 Electric Vehicle Market Size, by Vehicle Class, 2017-2020 (Thousand Units)
Table 44 Electric Vehicle Market Size, by Vehicle Class, 2021-2030 (Thousand Units)
Figure 50 Luxury Segment is Projected to Grow at a Higher CAGR During the Forecast Period (2021-2030)
9.2 Operational Data
Table 45 Popular EVs Across the World
9.2.1 Assumptions
Table 46 Assumptions: by Vehicle Class Type
9.3 Research Methodology
9.4 Mid-Priced
9.4.1 Decrease in Battery Price Expected to Boost Demand
Table 47 Mid-Priced: Electric Vehicle Market Size, by Region, 2017-2020 (Thousand Units)
Table 48 Mid-Priced: Electric Vehicle Market Size, by Region, 2021-2030 (Thousand Units)
9.5 Luxury
9.5.1 Demand for High End Technology Expected to Boost Demand
Table 49 Luxury: Electric Vehicle Market Size, by Region, 2017-2020 (Thousand Units)
Table 50 Luxury: Electric Vehicle Market Size, by Region, 2021-2030 (Thousand Units)
9.6 Key Primary Insights

10 Electric Vehicle Market, by Vehicle Drive Type
10.1 Introduction
Table 51 Electric Vehicle Market Size, by Vehicle Drive Type, 2017-2020 (Thousand Units)
Table 52 Electric Vehicle Market Size, by Vehicle Drive Type, 2021-2030 (Thousand Units)
Figure 51 Rear Wheel Drive Segment is Projected to Grow at the Highest CAGR During the Forecast Period (2019-2030)
10.2 Operational Data
Table 53 Popular BEVs Across the World
Table 54 Popular PHEVs Across the World
10.2.1 Assumptions
Table 55 Assumptions: by Vehicle Drive Type
10.3 Research Methodology
10.4 Front Wheel Drive (FWD)
Table 56 Front Wheel Drive: Electric Vehicle Market Size, by Region, 2017-2020 (Thousand Units)
Table 57 Front Wheel Drive: Electric Vehicle Market Size, by Region, 2021-2030 (Thousand Units)
10.5 Rear Wheel Drive (RWD)
Table 58 Rear Wheel Drive: Electric Vehicle Market Size, by Region, 2017-2020 (Thousand Units)
Table 59 Rear Wheel Drive: Electric Vehicle Market Size, by Region, 2021-2030 (Thousand Units)
10.6 All Wheel Drive (AWD)
Table 60 All Wheel Drive: Electric Vehicle Market Size, by Region, 2017-2020 (Thousand Units)
Table 61 All Wheel Drive: Electric Vehicle Market Size, by Region, 2021-2030 (Thousand Units)
10.7 Key Primary Insights

11 Electric Vehicle Market, by Vehicle Top Speed
11.1 Introduction
Table 62 Electric Vehicle Market Size, by Vehicle Top Speed, 2017-2020 (Thousand Units)
Table 63 Electric Vehicle Market Size, by Vehicle Top Speed, 2021-2030 (Thousand Units)
Figure 52 >125 Mph Segment is Projected to Grow at a Higher CAGR During the Forecast Period (2021-2030)
11.2 Operational Data
Table 64 Popular and Upcoming EVs Across the World
11.2.1 Assumptions
Table 65 Assumptions: by Vehicle Top Speed
11.3 Research Methodology
11.4 <125 Mph
11.4.1 Decrease in EV Price Expected to Boost Demand
Table 66 <125 Mph: Electric Vehicle Market Size, by Region, 2017-2020 (Thousand Units)
Table 67 <125 Mph: Electric Vehicle Market Size, by Region, 2021-2030 (Thousand Units)
11.5 >125 Mph
11.5.1 Demand for High End Vehicle Expected to Boost Demand
Table 68 >125 Mph: Electric Vehicle Market Size, by Region, 2017-2020 (Thousand Units)
Table 69 >125 Mph: Electric Vehicle Market Size, by Region, 2021-2030 (Thousand Units)
11.6 Key Primary Insights

12 Electric Vehicle Market, by Vehicle Type
12.1 Introduction
Table 70 Electric Vehicle Market, by Vehicle Type, 2017-2020 (Thousand Units)
Table 71 Electric Vehicle Market, by Vehicle Type, 2021-2030 (Thousand Units)
Figure 53 Commercial Vehicle Segment is Projected to Grow at the Higher CAGR During the Forecast Period (2021-2030)
12.2 Operational Data
Table 72 Popular EVs Globally
12.2.1 Assumptions
Table 73 Assumptions: by Vehicle Type
12.3 Research Methodology
12.4 Passenger Car (PC)
12.4.1 Growing Emission Norms Will Boost the Demand
Table 74 Passenger Car: Electric Vehicle Market, by Region, 2017-2020 (Thousand Units)
Table 75 Passenger Car: Electric Vehicle Market, by Region, 2021-2030 (Thousand Units)
12.5 Commercial Vehicles (CV)
12.5.1 Growth of e-Commerce and Logistics Expected to Boost Demand
Table 76 Commercial Vehicles: Electric Vehicle Market, by Region, 2017-2020 (Thousand Units)
Table 77 Commercial Vehicles: Electric Vehicle Market, by Region, 2021-2030 (Thousand Units)
12.6 Key Primary Insights

13 Electric Vehicle Market, by V2G
13.1 Introduction
Table 78 Electric Vehicle Market, by V2G, 2017-2020 (Thousand Units)
Table 79 Electric Vehicle Market, by V2G, 2021-2027 (Thousand Units)
Table 80 Electric Vehicle Market, by V2G, 2017-2020 (USD Million)
Table 81 Electric Vehicle Market, by V2G, 2021-2027 (USD Million)
13.2 V2B or V2H
13.3 V2G
13.4 V2V
13.5 V2X

14 Electric Vehicle Market, by Region
14.1 Introduction
Figure 54 Asia-Pacific is Projected to be the Largest Market for Electric Vehicles During the Forecast Period (2021-2030)
Table 82 Electric Vehicle Market, by Region, 2017-2020 (Thousand Units)
Table 83 Electric Vehicle Market, by Region, 2021-2030 (Thousand Units)
14.2 Asia-Pacific
Figure 55 Asia-Pacific: Passenger Car Electric Vehicle Market Snapshot, 2021-2030
Table 84 Asia-Pacific: Passenger Car Electric Vehicle Market, by Country, 2017-2020 (Thousand Units)
Table 85 Asia-Pacific: Passenger Car Electric Vehicle Market, by Country, 2021-2030 (Thousand Units)
14.2.1 China
14.2.1.1 Increased Investments in Charging Infrastructure Expected to Lead to Market Growth
Table 86 China: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Thousand Units)
Table 87 China: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Thousand Units)
14.2.2 India
14.2.2.1 ABB Setup of Electric Vehicle Charger Facilities Expected to Boost Demand
Table 88 India: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Thousand Units)
Table 89 India: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Thousand Units)
14.2.3 Japan
14.2.3.1 Advancements in Battery Technology to Boost Demand
Table 90 Japan: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Thousand Units)
Table 91 Japan: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Thousand Units)
14.2.4 South Korea
14.2.4.1 Increased Investments in Electric Vehicles to Boost Demand
Table 92 South Korea: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Thousand Units)
Table 93 South Korea: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Thousand Units)
14.3 Europe
Figure 56 Europe: Germany Expected to Lead EV Sales During 2021-2030
Table 94 Europe: Passenger Car Electric Vehicle Market, by Country, 2017-2020 (Thousand Units)
Table 95 Europe: Passenger Car Electric Vehicle Market, by Country, 2021-2030 (Thousand Units)
14.3.1 France
14.3.1.1 Government Offering Purchase Grants to Boost Demand
Table 96 France: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Thousand Units)
Table 97 France: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Thousand Units)
14.3.2 Germany
14.3.2.1 Rising Sales of Hybrid Vehicles by Domestic Players to Boost Demand
Table 98 Germany: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Thousand Units)
Table 99 Germany: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Thousand Units)
14.3.3 Netherlands
14.3.3.1 Government Focus Towards Greener Vehicles to Boost Demand
Table 100 Netherlands: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Thousand Units)
Table 101 Netherlands: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Thousand Units)
14.3.4 Norway
14.3.4.1 Emergence of E-Mobility to Boost Demand
Table 102 Norway: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Thousand Units)
Table 103 Norway: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Thousand Units)
14.3.5 Sweden
14.3.5.1 Strong Existing Charging Infrastructure to Boost Demand
Table 104 Sweden: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Thousand Units)
Table 105 Sweden: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Thousand Units)
14.3.6 UK
14.3.6.1 Country's Investment in Ultra-Low Emission Vehicles to Boost Demand
Table 106 UK: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Thousand Units)
Table 107 UK: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Thousand Units)
14.3.7 Denmark
14.3.7.1 Government Promotion of Private Infrastructure to Boost Demand
Table 108 Denmark: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Thousand Units)
Table 109 Denmark: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Thousand Units)
14.3.8 Austria
14.3.8.1 Move Towards Cleaner Vehicles to Boost Demand
Table 110 Austria: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Thousand Units)
Table 111 Austria: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Thousand Units)
14.3.9 Switzerland
14.3.9.1 Country Focus Towards Expansion of Electric Vehicle Charging Infrastructure
Table 112 Switzerland: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Thousand Units)
Table 113 Switzerland: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Thousand Units)
14.3.10 Spain
14.3.10.1 Increasing Investments in FCEVs to Uplift the Market
Table 114 Spain: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Thousand Units)
Table 115 Spain: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Thousand Units)
14.4 North America
Figure 57 North America: Passenger Car Electric Vehicle Market Snapshot
Table 116 North America: Passenger Car Electric Vehicle Market, by Country, 2017-2020 (Thousand Units)
Table 117 North America: Passenger Car Electric Vehicle Market, by Country, 2021-2030 (Thousand Units)
14.4.1 Canada
14.4.1.1 Increasing Development in Electric Vehicle Infrastructure to Boost Demand
Table 118 Canada: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Thousand Units)
Table 119 Canada: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Thousand Units)
14.4.2 US
14.4.2.1 Increasing Production Capacity of Electric Vehicles to Uplift the Market
Table 120 US: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Thousand Units)
Table 121 US: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Thousand Units)
14.5 Middle East & Africa
Figure 58 Egypt to be the Fastest-Growing Market in the MEA Region
Table 122 Middle East & Africa: Passenger Car Electric Vehicle Market, by Country, 2017-2020 (Units)
Table 123 Middle East & Africa: Passenger Car Electric Vehicle Market, by Country, 2021-2030 (Units)
14.5.1 UAE
14.5.1.1 Government Support to Increase EV Demand in the Market
Table 124 UAE: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Units)
Table 125 UAE: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Units)
14.5.2 Egypt
14.5.2.1 Increasing Development in Electric Vehicle Infrastructure to Boost Demand
Table 126 Egypt: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Units)
Table 127 Egypt: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Units)
14.5.3 South Africa
14.5.3.1 Increasing EV Imports and Popularization of EV Charging Stations to Increase Market
Table 128 South Africa: Passenger Car Electric Vehicle Market, by Propulsion Type, 2017-2020 (Units)
Table 129 South Africa: Passenger Car Electric Vehicle Market, by Propulsion Type, 2021-2030 (Units)

15 Competitive Landscape
15.1 Overview
15.2 Market Share Analysis of the Electric Vehicle Market
Table 130 Market Share Analysis, 2018-2021
Figure 59 Market Share Analysis
Figure 60 Revenue Analysis for the Top Five Companies, 2020
15.3 Competitive Scenario
15.3.1 Deals
Table 131 Deals, 2018-2021
15.3.2 New Product Developments
Table 132 New Product Developments, 2018-2021
15.3.3 Others, 2018-2021
Table 133 Expansions, 2018-2021
15.4 Competitive Leadership Mapping for the Electric Vehicle Market
15.4.1 Stars
15.4.2 Emerging Leaders
15.4.3 Pervasive
15.4.4 Emerging Companies
Figure 61 Electric Vehicle Market: Competitive Leadership Mapping for Top Electric Vehicle Manufacturers, 2021
Table 134 Electric Vehicle Market: Company Footprint for Top EV Manufacturers, 2021
Table 135 Electric Vehicle Market: Company Application Footprint for Top EV Manufacturers, 2021
Table 136 Electric Vehicle Market: Regional Footprint for EV Manufacturers, 2021
Figure 62 Electric Vehicle Market: Competitive Leadership Mapping for New Players, 2021
15.5 Right to Win, 2018-2021
Table 137 Right to Win, 2018-2021

16 Company Profiles
16.1 Key Players
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, Analyst's View)*
16.1.1 Tesla
Table 138 Tesla: Business Overview
Figure 63 Tesla: Company Snapshot
Table 139 Tesla: Products Offered
Table 140 Tesla: New Product Developments
Table 141 Tesla: Deals
Table 142 Tesla: Others
16.1.2 BYD
Table 143 BYD: Business Overview
Figure 64 BYD: Company Snapshot
Table 144 BYD: Products Offered
Table 145 BYD: New Product Developments
Table 146 BYD: Deals
Table 147 BYD: Others
16.1.3 Volkswagen AG
Table 148 Volkswagen AG: Business Overview
Figure 65 Volkswagen AG: Company Snapshot
Table 149 Volkswagen AG: Products Offered
Table 150 Volkswagen AG: New Product Developments
Table 151 Volkswagen AG: Deals
Table 152 Volkswagen AG: Others
16.1.4 BMW Group
Table 153 BMW Group: Business Overview
Figure 66 BMW Group: Company Snapshot
Table 154 BMW Group: Products Offered
Table 155 BMW Group: New Product Developments
Table 156 BMW Group: Deals
16.1.5 Nissan Motors
Table 157 Nissan Motors: Business Overview
Figure 67 Nissan Motors: Company Snapshot
Table 158 Nissan Motors: Products Offered
Table 159 Nissan Motors: New Product Developments
Table 160 Nissan Motors: Deals
Table 161 Nissan Motors: Others
16.1.6 Toyota Motor Corporation
Table 162 Toyota Motor Corporation: Business Overview
Figure 68 Toyota Motor Corporation: Company Snapshot
Table 163 Toyota Motor Corporation: Products Offered
Table 164 Toyota Motor Corporation: New Product Developments
Table 165 Toyota Motor Corporation: Deals
16.1.7 Ford Motor Company
Table 166 Ford Motor Company: Business Overview
Figure 69 Ford Motor Company: Company Snapshot
Table 167 Ford Motor Company: Products Offered
Table 168 Ford Motor Company: New Product Developments
Table 169 Ford Motor Company: Deals
Table 170 Ford Motor Company: Others
16.1.8 AB Volvo
Table 171 AB Volvo: Business Overview
Figure 70 AB Volvo: Company Snapshot
Table 172 AB Volvo: Products Offered
Table 173 AB Volvo: New Product Developments
Table 174 AB Volvo: Deals
Table 175 AB Volvo: Others
16.1.9 SAIC Motors
Table 176 SAIC Motors: Business Overview
Figure 71 SAIC Motors: Company Snapshot
Table 177 SAIC Motors: Products Offered
Table 178 SAIC Motors: New Product Developments
Table 179 SAIC Motors: Deals
16.1.10 Hyundai Group
Table 180 Hyundai Group: Business Overview
Figure 72 Hyundai Group: Company Snapshot
Table 181 Hyundai Group: Products Offered
Table 182 Hyundai Group: New Product Developments
Table 183 Hyundai Group: Deals
16.1.11 Honda Motors
Table 184 Honda Motors: Business Overview
Figure 73 Honda Motors: Company Snapshot
Table 185 Honda Motors: Products Offered
Table 186 Honda Motors: New Product Developments
Table 187 Honda Motors: Deals
16.1.12 Daimler AG
Table 188 Daimler AG: Business Overview
Figure 74 Daimler AG: Company Snapshot
Table 189 Daimler AG: Products Offered
Table 190 Daimler AG: New Product Developments
Table 191 Daimler AG: Deals
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, Analyst's View Might Not be Captured in Case of Unlisted Companies
16.2 Other Players
16.2.1 General Motors
Table 192 General Motors: Business Overview
16.2.2 Rivian
Table 193 Rivian: Business Overview
16.2.3 Faraday Future
Table 194 Faraday Future: Business Overview
16.2.4 Fisker
Table 195 Fisker: Business Overview
16.2.5 Lucid Motors
Table 196 Lucid Motors: Business Overview
16.2.6 Nikola Corporation
Table 197 Nikola Corporation: Business Overview
16.2.7 Alcraft Motor Company
Table 198 Alcraft Motor Company: Business Overview
16.2.8 Renault Group
Table 199 Renault Group: Business Overview
16.2.9 Stellantis N.V.
Table 200 Stellantis N.V.: Business Overview
16.2.10 Kia Motors
Table 201 Kia Motors: Business Overview
16.2.11 Baic Motors
Table 202 Baic Motors: Business Overview
16.2.12 Mitsubishi Motors
Table 203 Mitsubishi Motors: Business Overview
16.2.13 Byton
Table 204 Byton: Business Overview
16.2.14 Chery
Table 205 Chery: Business Overview
16.2.15 JAC
Table 206 JAC: Business Overview
16.2.16 Geely
Table 207 Geely: Business Overview
16.2.17 Canoo
Table 208 Canoo: Business Overview
16.2.18 Zotye
Table 209 Zotye: Business Overview

17 Analyst's Recommendations
17.1 China, Japan, Germany, and South Korea are Key Focus Countries for the Electric Vehicle Market
17.2 Technological Advancements to Help Develop the Market for the EV Passenger Car
17.3 Conclusion

18 Appendix
18.1 Key Insights of Industry Experts
18.2 Discussion Guide
18.3 Knowledge Store: The Subscription Portal
18.4 Available Customizations

Note: Product cover images may vary from those shown
  • AB Volvo
  • Alcraft Motor Company
  • BAIC Motors
  • BMW Group
  • Byd
  • Byton
  • Canoo
  • Chery
  • Daimler Ag
  • Faraday Future
  • Fisker
  • Ford Motor Company
  • Geely
  • General Motors
  • Honda Motors
  • Hyundai Group
  • Jac
  • Kia Motors
  • Lucid Motors
  • Mitsubishi Motors
  • Nikola Corporation
  • Nissan Motors
  • Renault Group
  • Rivian
  • SAIC Motors
  • Stellantis N.V.
  • Tesla
  • Toyota Motor Corporation
  • Volkswagen Ag
  • Zotye
Note: Product cover images may vary from those shown

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