Global Electric Vehicle Market Overview, 2020-25

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‘Global Electric Vehicle Market Overview, 2020-25‘Research identifies and discusses recent developments in electric mobility across the globe. The electric vehicles market has made great strides, and not just in terms of sales, but also by investments to deliver new electrified models, from R&D to factory redesign. The market was recorded at a value of USD 27.85 Billion in the year 2014, which is anticipated to grow with a CAGR of over 30% in terms of volume through the forecasted period.

Even though electric vehicles are a need of the hour, the market is hurdled highly because of the lack of infrastructure and the high manufacturing cost. The gap between the existing infrastructure and the required one for the electric vehicle to overtake the conventional vehicles is huge, becoming a major fuel for the range anxiety among the drivers.

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Companies are manufacturing comparatively less expensive vehicles, however, with the increase in the disposal income and government incentives; the market is likely to get inclined towards the luxury class segment that is expected to account for an approx share of 40% by end of the forecasted period. The mid-priced vehicle class has limited features with less emphasis on expensive features, yet ruled the market with a share of over 70% in 2019.

The governments of various countries have formulated stringent CO2 emission norms that have increased the demand for electric vehicles. Besides, the governments are providing incentives and subsidies to encourage EV sales. Gaining popularity in 2018, the electric Go-Karting is expected to be the next big thing in the industry. Of all the leading companies, Tesla, Nissan, and Toyota together accounted for 31.45% of the share in 2019. The other smaller and local players also play an important role with the mergers amend acquisitions around the industry.

Companies Mentioned:

Tesla, BMW Group, Nissan Motor Corporation, Toyota Motor Corporation, Volkswagen AG, General Motors, Daimler AG, Energica Motor Company BYD Company Motors, and Ford Motor Company, Aiways, Citroen, Lightening GT, Micro Mobility, Zacua, Nio, MW Motors, Peugeot, PoleStar Venturi

CONSIDERED IN THE REPORT

• Geography: Global
• Base year: 2019
• Historical year: 2014
• Forecasted year: 2025

REGIONS COVERED:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Points Covered in this report:

• Market Evolution through value and volume CAGRs at different verticals
• Detailed discussion on the market dynamics that influence the market and the possible opportunities
• In sights on the market leader's performance including market shares, strategies, products, financial positions, etc

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