Global Electric Vehicles Market Analysis –Trends, Insights and Forecast (2022-2030)

  • Publish Date
    March 3, 2023
  • No of Pages
    380
  • SKU Code
    GIR 6918
  • Format

Report Overview

  • Understand the latest market trends and future growth opportunities for the Electric Vehicles (EVs) industry globally with research from the Global Industry Reports team of in-country analysts – experts by industry and geographic specialization.
  • Key trends are clearly and succinctly summarized alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight, and confident growth projections.
  • The report will cover the overall analysis and insights in relation to the size and growth rate of the “Electric Vehicles (EVs) Market” by various segments at a global and regional level for the 2010-2030 period, with 2010-2021 as historical data, 2022 as a base year, 2023 as an estimated year and 2023-2030 as forecast period.

Description:

  • In the changed post COVID-19 business landscape, the global market for Electric Vehicles (EVs) estimated at 9.5 Million Units in the year 2022, is projected to reach a revised size of 80.7 Million Units by 2030, growing at a CAGR of 30.7% over the period 2022-2030.
  • Battery Electric Vehicles (BEVs), one of the segments analyzed in the report, is projected to record 34.8% CAGR and reach 74.4 Million Units by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Plugin Hybrid Electric Vehicles (phevs) segment is readjusted to a revised 11.6% CAGR for the next 8-year period.
  • The Electric Vehicles (EVs) market in the U.S. is estimated at 882.3 Thousand Units in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of 36.5 Million Units by the year 2030 trailing a CAGR of 28.6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 20.7% and 27.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 29.1% CAGR.
  • Tesla was ranked as the best-selling electric vehicle manufacturer worldwide after selling close to 936,200 units in 2021. Tesla’s sales volume translates into a market share of just under 14 percent. Volkswagen Group and BYD were among the runners-up.
  • Electric vehicle (EV) market in the United States is expected to flourish with government incentives driving EV ownership.

Electric Vehicles Market 2023

MARKET DATA INCLUDED

  • Unit SalesAverage Selling PricesMarket Size & Growth Trends
  • COVID-19 Impact and Global Recession Analysis
  • Analysis of US inflation reduction act 2022
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies – Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Market Drivers & Limiters
  • Market Forecasts Until 2028, and Historical Data to 2015
  • Recent Mergers & Acquisitions
  • Company Profiles and Product Portfolios
  • Leading Competitors
  • xEV registration/sales data: Monthly registrations on all BEV, PHEV, FCEV and HEV by country and model.
  • Future plug-in (BEV & PHEV) vehicle roll-out calendar 2020-2027.
  • Vehicle Specification database on all selling plug-ins (BEV & PHEV).
  • Charging Infrastructure database by Country and Connector Type.
  • Battery Shipment Tracker by Chemistry, Battery Maker & to which OEM, in MWh.
  • BEV, PHEV & HEV Share tracker by country, Inventory & Order back-log,
  • BEV & PHEV Buses & CV Registrations.
  • OEM & Model & Battery Demand Forecast 2030, BEV & PHEV, with regional sales.

The Report Includes:

  • The report provides a deep dive into details of the industry including definitions, classifications, and industry chain structure.
  • Analysis of key supply-side and demand trends.
  • Detailed segmentation of international and local products.
  • Historic volume and value sizes, company, and brand market shares.
  • Five-year forecasts of market trends and market growth.
  • Robust and transparent research methodology conducted in-country.
  • Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors.
  • Provision of market value (USD Billion) data for each segment and sub-segment.
  • Analysis by geography, region, Country, and its states.
  • A brief overview of the commercial potential of products, technologies, and applications.
  • Company profiles of leading market participants dealing in products category.
  • Description of properties and manufacturing processes.
  • marketed segments on the basis of type, application, end users, region, and others.
  • Discussion of the current state, setbacks, innovations, and future needs of the market.
  • Examination of the market by application and by product sizes; utility-scale, medium scale and small-scale.
  • Country-specific data and analysis for the United States, Russia, China, Germany, United Kingdom, France, Japan, Israel, Saudi Arabia, South Korea, United Arab Emirates, Canada, Switzerland, Australia, India, Italy, Turkey, Qatar, Sweden, Spain, Belgium, Netherlands, Norway, Singapore, Egypt, Denmark, Austria, Vietnam, Brazil, Argentina, Mexico, South Africa, and others.
  • Coverage of historical overview, key industrial development and regulatory framework.
  • Analysis of competitive developments, such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the market.
  • A look at the opportunities in the market for stakeholders and provide a competitive landscape of the market leaders.

Reports Scope and Segments:

Report Attribute Details
Market size in 2022 9.5 Million Units
Market size forecast in 2030 80.7 Million Units
Growth Rate CAGR of 30.7% from 2022 to 2030
Base year for estimation 2022
Historical data 2015 – 2022
Forecast period 2023 – 2030
Quantitative units Revenue in USD million and CAGR from 2023 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, trends, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

COVID-19 Impact, Market Growth Trends, Market Limiters, Competitive Analysis & SWOT for Top Competitors, Mergers & Acquisitions, Company Profiles, Product Portfolios

Market Size, Market Shares, Market Forecasts, Market Growth Rates, Units Sold, and Average Selling Prices.

Segments covered Components, Vehicle Type, Vehicle Class, Top Speed, Vehicle Drive Type, EV Charging Point Type, Vehicle Connectivity, End Use, Propulsion and Region
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East and Africa and rest of the world
Country scope United States, Russia, China, Germany, United Kingdom, France, Japan, Israel, Saudi Arabia, South Korea, United Arab Emirates, Canada, Switzerland, Australia, India, Italy, Turkey, Qatar, Sweden, Spain, Belgium, Netherlands, Norway, Singapore, Egypt, Denmark, Austria, Vietnam, Brazil, Argentina, Mexico, South Africa, and others.
Key companies profiled AIXAM MEGA SAS; Alcraft Motor Company; ALIENO; Alkane Truck Company; American Honda Motor Co., Inc.; Anhui Jianghuai Automobile Co., Ltd.; Audi AG; Balqon Corporation; Beijing Automotive Industry Corp. (BAIC); Blue Bird Corporation; BMW AG; BYD Motors Inc.; Byton; Cadillac; CAF; Canadian Electric Vehicles; Chang`an Automobile (Group) Co., Ltd.; Chery; Construcciones y Auxiliar de Ferrocarriles, S.A.; Continental; Daimler AG; Dongfeng Electric Vehicle Co., LTD; Faraday Future; FDG Electric Vehicles Limited; Fisker; Ford Motor Company; Geely; General Motors Company; Groupe Renault; Honda Motor Co., Ltd.; Hyundai Motor Company; JAC; Jaguar Land Rover Limited; Karma Automotive; Kia Motors; Lucid Motors; Mahindra & Mahindra Ltd; Mercedes-Benz AG; MG Motor; Mitsubishi Motors Corporation; NEXT Future Transportation Inc.; NextEV Ltd. (NIO); Nissan Motor Co., Ltd.; Olectra Greentech Limited; Rivian; SAIC Motors; Stellantis; Tata Motors; Tesla Motors Inc.; Toyota Motor Corp.; Volkswagen AG; Volvo; Zotye and others
Customization scope Free report customization (equivalent up to 20 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.
Report Format PDF, PPT, Excel & Online User Account

Electric Vehicles Market Share 2023

Report Segmented by:

EV Market, Based on Components:

  • Battery Cells & Packs
  • On-Board Charge
  • Electric Motor / Power Train
  • Reducer
  • Fuel Stack
  • Power Control Unit
  • Battery Management System
  • Fuel Processor
  • Power Conditioner
  • Air Compressor
  • Humidifier

EV Market, Based on Vehicle Type:

  • Passenger Cars
  • Commercial Vehicles
  • Two-wheelers
  • Three-wheelers
  • Industrial Vehicles
  • Others

EV Market, Based on Vehicle Class:

  • Low-priced
  • Mid-priced
  • Luxury

EV Market, Based on Top Speed:

  • <125 MPH
  • >125 MPH

 EV Market, Based on Vehicle Drive Type:

  • Front Wheel Drive
  • Rear Wheel Drive
  • All Wheel Drive

 EV Market, Based on EV Charging Point Type:

  • Normal Charging
  • Super Charging
  • Inductive Charging

EV Market, Based on Vehicle Connectivity:

  • V2B or V2H
  • V2G
  • V2V
  • V2X

EV Market, Based on Power Output:

  • Less than 100 KW
  • 100-250 KW
  • Above 250 KW

EV Market, Based on Propulsion:

  • Battery electric vehicle (BEV)
  • Fuel cell electric vehicle (FCEV)
  • Plug-in hybrid electric vehicle (PHEV)
  • Hybrid electric vehicle (HEV)

EV Market, Based on the Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
  • Rest Of the World

Companies Covered in Report:

AIXAM MEGA SAS General Motors Company
Alcraft Motor Company Groupe Renault
ALIENO Honda Motor Co., Ltd.
Alkane Truck Company Hyundai Motor Company
American Honda Motor Co., Inc. JAC
Anhui Jianghuai Automobile Co., Ltd. Jaguar Land Rover Limited
Audi AG Karma Automotive
Balqon Corporation Kia Motors
Beijing Automotive Industry Corp. (BAIC) Lucid Motors
Blue Bird Corporation Mahindra & Mahindra Ltd
BMW AG Mercedes-Benz AG
BYD Motors Inc. MG Motor
Byton Mitsubishi Motors Corporation
Cadillac NEXT Future Transportation Inc.
CAF NextEV Ltd. (NIO)
Canadian Electric Vehicles Nissan Motor Co., Ltd.
Chang`an Automobile (Group) Co., Ltd. Olectra Greentech Limited
Chery Rivian
Construcciones y Auxiliar de Ferrocarriles, S.A. SAIC Motors
Continental Stellantis
Daimler AG Tata Motors
Dongfeng Electric Vehicle Co., LTD Tesla Motors Inc.
Faraday Future Toyota Motor Corp.
FDG Electric Vehicles Limited Volkswagen AG
Fisker Volvo
Ford Motor Company Zotye
Geely

 

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  • Latest 2022 base year report.
  • Free Updated edition of 2023 every quarter without any hidden cost.
  • No user limitation for the report. Unlimited access within the organization.
  • Unrestricted post-sales support at no additional cost
  • Free report customization (equivalent up to 10 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope
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  • Option to purchase regional or selected Chapters from the report.

Key questions that are answered in this report

  • What is the volume of electric vehicles in 2023?
  • What is the rate of growth expected for the EV market in the U.S. in 2023?
  • Who is leading the EV Market?
  • What percent of the market is electric vehicles?
  • What is the current size of the global electric vehicle market?
  • What are the new market trends impacting the growth of the electric vehicle market?
  • What is the growth rate of India & China Electric Vehicle Market?
  • Which region has highest growth rate in India & China Electric Vehicle Market?
  • Who are the key players in India Electric Vehicle Market?
  • Executive Summary
  • Research Methodology
    • Primary Research
    • Secondary Research
    • Market Analytics
    • Revenue Forecasting
  • Market Overview
    • Market Definition
    • Scope of the Study
      • Research Objectives
      • Assumptions & Limitations
      • Market Structure
    • Market Dynamics
      • Introduction
      • Microeconomic Factor Analysis
      • Market Evolution
      • Technology Roadmap
      • Demand-Supply Dynamics
      • Growth Drivers
      • Restraints
      • Opportunities
      • Challenges
      • Sustainable Strategies
    • Market Trend Analysis (Product Analysis, Technology Analysis, Application Analysis)
    • Industry Analysis
      • Profitability analysis
      • Supply Chain & Value Chain Analysis
      • Porter’s Five Forces Analysis
        • Bargaining power of Suppliers
        • Bargaining Power of Buyers
        • Threat of substitutes
        • Threat of new entrants
        • Degree of Competition
      • PEST Analysis
      • Upstream and downstream profitability analysis and opportunities

Global Market Scope

  1. Market analysis by product category
  2. Market analysis by component / type
  3. Market analysis by technology
  4. Market analysis by application
  5. Market analysis by industry vertical
  6. Market analysis by end-use
  7. Market analysis by emerging technologies, trends and applications
  8. Market analysis by region
    • North America
      • US
      • Canada
      • Mexico
      • Others
    • South America
      • Brazil
      • Argentina
      • Chile
      • Colombia
      • Peru
      • Venezuela
      • Ecuador
      • Others
    • Europe
      • Germany
      • France
      • UK
      • Russia
      • Italy
      • Spain
      • Sweden
      • Netherlands
      • Poland
      • Austria
      • Belgium
      • Finland
      • Norway
      • Switzerland
      • Denmark
      • Czech Republic
      • Portugal
      • Others
    • Asia-Pacific
      • China
      • Japan
      • South Korea
      • Taiwan
      • India
      • Australia
      • Indonesia
      • Philippines
      • Malaysia
      • Others
    • Middle East
      • Iran
      • Turkey
      • Kuwait
      • UAE
      • Israel
      • Oman
      • Bahrain
      • Saudi Arabia
      • Qatar
      • Egypt
      • Others
    • Africa
      • Algeria
      • Libya
      • South Africa
      • Sudan
      • Zimbabwe
      • Others
  1. Competitive Landscape
    • Introduction
    • Market share analysis by key market players (North America, South America, Europe, APAC, Africa)
    • Market Strategy
    • Mergers and Acquisitions
    • New Product Launches
    • Asset Transactions
    • Financial Announcements
  2. Company Profile (key market players)
    • Company profile 1
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 2
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 3
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 4
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 5
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 6
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 7
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 8
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 9
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 10
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
  1. Other Companies

150+

Methodology

Research Methodology is the process used to collect information and data for the purpose of making business decisions. The success of a research project is entirely dependent on the research methodology adopted by the company. Research Methodology and Scope We have implemented a mix of primary and secondary research for our market estimate and forecast. Secondary research formed the initial phase of our study, where we conducted extensive data mining, referring to verified data sources such as independent studies, company annual reports, white papers, case studies, government and regulatory published articles, technical journals, magazines, and paid data sources. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.

In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information important for respective regions. The primary sources from the supply side included industry experts such as CEOs, VPs, marketing directors, technology and innovation directors, and related executives from key companies and organizations operating in the respective regions. The primary data has been collected through questionnaires, e-mails, and telephonic interviews, end-user surveys, consumer surveys, technology distributors and wholesaler’s surveys.

  • Quantitative methods (e.g. surveys) are best for measuring, ranking, categorizing, identifying patterns and making generalizations
  • Qualitative methods (e.g. interviews) are best for describing, interpreting, contextualizing, and gaining in-depth insight into specific concepts or phenomena
  • Mixed methods allow for a combination of numerical measurement and in-depth exploration.

Market drivers and restraints, along with their current and expected impacts, technological scenario and expected developments, end-use industry trends and dynamics  and consumer behavior trends  these forecasting parameters were considered.

Ethical approach, attention to detail, consistency, latest trend in the market and highly authentic source these are benefits of company’s research methodology.

Global Industry Reports

Market size estimation methodology top-down and bottom-up approaches

Both top-down and bottom-up approaches have been used to estimate and validate the total size of the virtual reality market. These methods have also been extensively used to estimate the sizes of various market subsegments. Estimating the size of the market in each region by adding the sizes of country-wise markets and tracking the ongoing and upcoming implementation of virtual reality projects by various companies in each region and forecasting the size of the virtual reality market based on these developments and other critical parameters, including COVID-19 related impacts

Data Triangulation

After arriving at the overall market size—using the market size estimation processes explained above—the market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. It provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, company profiles, key player strategies competitive developments and key developments) influencing the virtual reality market growth.

Statistical Model

Our market estimates and forecasts are derived through simulation models. A unique model is created customized for each study. Gathered information for market dynamics, technology landscape, application development and pricing trends is fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression and time series analysis.