Market Research Logo

Electric Vehicle Market by Vehicle (Passenger Cars & Commercial Vehicles), Vehicle Class (Mid-priced & Luxury), Propulsion (BEV, PHEV & FCEV), EV Sales (OEMs/Models) Charging Station (Normal & Super) & Region - Global Forecast to 2030

Electric Vehicle Market by Vehicle (Passenger Cars & Commercial Vehicles), Vehicle Class (Mid-priced & Luxury), Propulsion (BEV, PHEV & FCEV), EV Sales (OEMs/Models) Charging Station (Normal & Super) & Region - Global Forecast to 2030

“Heavy investments from automakers in EVs and encouraging government policies and subsidies are significant factors for the growth of the electric vehicle market globally”
The global electric vehicle market is estimated to grow from 3,269,671 units in 2019 to reach 26,951,318 units by 2030, at a CAGR of 21.1%. Increased emphasis on reduction in carbon emissions is expected to boost the market. However, lack of availability of charging stations and initial high costs can create a hurdle for its growth.

“Increasing adoption of electric buses likely to propel the growth of commercial vehicles during the forecast period”
The commercial vehicle segment is expected to be the fastest growing market. Increasing adoption of electric buses, particularly in China and India, has contributed to the growth of the electric commercial vehicle segment. Several countries are expected to replace their existing fuel-based bus fleet with electric buses. The increasing trend of replacing fossil fuel-based public transport fleet with electric buses will drive the growth of electric commercial vehicles during the forecast period. Additionally, the growth of ecommerce, logistics, and shared mobility will drive the growth of electric commercial vehicles during the forecast period.

“Mid-priced vehicle segment is expected to grow at the highest CAGR”
The future of EVs is expected to be bright and with time, the price of batteries, one of the most vital components in an EV, will reduce significantly, which would make EVs more affordable. Mid-priced 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 in the mid-priced segment. Companies such as BYD, Smart, and Great Wall Motors are manufacturing comparatively less expensive vehicles. In July 2018, Great Wall Motors announced a partnership with BMW Group to produce electric mini vehicles in China. In December 2018, the company launched its new flagship vehicle—ORA R1—under its new ‘ORA’ electric car brand. The small urban car will cost only USD 8,680 after incentives with a range of almost 200 miles.

“The Asia Pacific market is expected to register the fastest growth during the forecast period”
The Asia Pacific market is expected to witness the fastest growth, followed by Europe and North America. The automotive industry in countries such as China, Japan, and South Korea is inclined toward innovation, technology, and development of advanced electric vehicles. The increasing demand for reducing carbon emission and developing more advanced and fast charging stations are expected to propel the growth of electric vehicles. BYD, BAIC, Chery, and SAIC, among others, are some of the key players in the Asia Pacific electric vehicle market.

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 - 38%, Tier II - 37%, and Tier OEM - 25%
By Designation: C Level - 30%, D Level - 50%, and Others - 20%
By Region: North America - 31%, Europe - 32%, and Asia Pacific - 37%

The electric vehicle market comprises major manufacturers such as Tesla (US), BYD (China), BMW(Germany), Volkswagen (Germany), and Nissan (Japan).

Research Coverage:
The market study covers the electric vehicle market across segments. It aims at estimating the market size and future growth potential of this market across different segments such as charging station type, propulsion type, vehicle type, vehicle class, component, and region. 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.

Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall electric vehicle market and the 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 with information on key market drivers, restraints, challenges, and opportunities.


  • INTRODUCTION
    • OBJECTIVES OF THE STUDY
    • MARKET DEFINITION
    • MARKET SCOPE
      • MARKETS COVERED
      • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY
      • Table CURRENCY EXCHANGE RATES (PER 1 USD)
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • BOTTOM-UP APPROACH FOR ELECTRIC VEHICLE SUPPLY EQUIPMENT MARKET
      • TOP-DOWN APPROACH
    • MARKET BREAKDOWN AND DATA TRIANGULATION
    • ASSUMPTIONS
  • EXECUTIVE SUMMARY
  • PREMIUM INSIGHTS
    • ATTRACTIVE OPPORTUNITIES IN THE ELECTRIC VEHICLE MARKET
    • ELECTRIC VEHICLE MARKET, BY REGION
    • ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE
    • ELECTRIC VEHICLE MARKET, BY VEHICLE CLASS
    • ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE
    • ELECTRIC VEHICLE SUPPLY EQUIPMENT MARKET, BY CHARGING STATION TYPE
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
        • Table IMPACT OF MARKET DYNAMICS
    • UPCOMING ELECTRIC VEHICLE MODELS
      • Table UPCOMING ELECTRIC VEHICLE MODELS, 2019-2028
    • EUROPE PASSENGER CAR MARKET SHARE ANALYSIS
      • BEV
      • PHEV
    • US PASSENGER CAR MARKET SHARE ANALYSIS 2017
    • US PASSENGER CAR MARKET SHARE ANALYSIS 2018
    • CHINA PASSENGER CAR MARKET SHARE ANALYSIS 2017
    • CHINA PASSENGER CAR MARKET SHARE ANALYSIS 2018
    • TRANSITION TOWARDS ELECTRIC VEHICLES FROM ICE
    • COMPANIES ANALYSIS IN EV ECOSYSTEM
      • COMPETITIVE LEADERSHIP MAPPING (MAJOR PLAYERS)
      • COMPETITIVE LEADERSHIP MAPPING (SME/START-UPS)
      • EV ECOSYSTEM COMPETITIVE LEADERSHIP MAPPING
  • INDUSTRY TRENDS
    • INTRODUCTION
    • SHARED MOBILITY
    • BATTERIES USED IN SOLAR VEHICLES
      • LEAD-ACID BATTERY
      • LEAD CARBON BATTERY
      • LITHIUM-ION BATTERY
      • SOLID-STATE BATTERY (SSB)
    • SMART CHARGING SYSTEM
  • ELECTRIC VEHICLE MARKET, BY GOVERNMENT REGULATIONS
    • INTRODUCTION
    • CANADA
      • Table EXISTING SUBSIDIES AND TAX STRUCTURE, CANADA, 2018
    • CHINA
      • Table EXISTING CHARGING STATION STANDARDS IN CHINA
      • Table EXISTING SUBSIDIES AND TAX STRUCTURE, CHINA, 2018
    • DENMARK
      • Table EXISTING SUBSIDIES AND TAX STRUCTURE, DENMARK, 2018
    • FRANCE
      • Table EXISTING SUBSIDIES AND TAX STRUCTURE, FRANCE, 2018
    • AUSTRIA
      • Table EXISTING SUBSIDIES AND TAX STRUCTURE, AUSTRIA, 2018
    • GERMANY
      • Table EXISTING SUBSIDIES AND TAX STRUCTURE, GERMANY, 2018
    • SPAIN
      • Table EXISTING SUBSIDIES AND TAX STRUCTURE, SPAIN, 2018
  • ELECTRIC VEHICLE MARKET, BY COMPONENT
    • INTRODUCTION
    • BATTERY CELLS & PACKS
    • ON-BOARD CHARGER
    • INFOTAINMENT SYSTEM
  • ELECTRIC VEHICLES MARKET, BY CHARGING STATION TYPE
    • INTRODUCTION
      • Table ELECTRIC VEHICLE SUPPLY EQUIPMENT MARKET, BY CHARGING STATION TYPE, 2017-2027 (UNITS)
    • RESEARCH METHODOLOGY
    • NORMAL CHARGING
      • INCREASE ADOPTION OF ELECTRIC VEHICLES WILL BOOST THE DEMAND
        • Table NORMAL CHARGING: ELECTRIC VEHICLE SUPPLY EQUIPMENT MARKET, BY REGION, 2017-2027 (UNITS)
    • SUPER CHARGING
      • DEMAND FOR FAST CHARGING STATION WILL BOOST THE DEMAND FOR SUPER CHARGING
        • Table SUPER CHARGING: ELECTRIC VEHICLE SUPPLY EQUIPMENT MARKET, BY REGION, 2017-2027 (UNITS)
    • KEY PRIMARY INSIGHTS
  • ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE
    • INTRODUCTION
      • Table ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017-2030 (THOUSAND UNITS)
    • RESEARCH METHODOLOGY
    • BATTERY ELECTRIC VEHICLE (BEV)
      • INCREASE IN VEHICLE RANGE PER CHARGE WILL BOOST THE DEMAND
        • Table BEV: ELECTRIC VEHICLE MARKET, BY REGION, 2017-2030 (THOUSAND UNITS)
    • FUEL CELL ELECTRIC VEHICLE (FCEV)
      • DEMAND FOR ZERO EMISSION VEHICLES WILL UPLIFT THE MARKET
        • Table FCEV: ELECTRIC VEHICLE MARKET, BY REGION, 2017-2030 (THOUSAND UNITS)
    • PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV)
      • GOVERNMENT PROVIDING TAX BENEFITS AND INCENTIVES WILL BOOST THE DEMAND
        • Table PHEV: ELECTRIC VEHICLE MARKET, BY REGION, 2017-2030 (THOUSAND UNITS)
    • HYBRID ELECTRIC VEHICLE (HEV)
    • KEY PRIMARY INSIGHTS
  • ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE
    • INTRODUCTION
      • Table ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2017-2030 (THOUSAND UNITS)
    • RESEARCH METHODOLOGY
    • PASSENGER CAR (PC)
      • GROWING EMISSION NORMS WILL BOOST THE DEMAND
        • Table PASSENGER CAR: ELECTRIC VEHICLE MARKET, BY REGION, 2017-2030 (THOUSAND UNITS)
    • COMMERCIAL VEHICLES (CV)
      • GROWTH OF E-COMMERCE AND LOGISTICS WILL BOOST THE DEMAND
        • Table COMMERCIAL VEHICLES: ELECTRIC VEHICLE MARKET, BY REGION, 2017-2030 (THOUSAND UNITS)
    • KEY PRIMARY INSIGHTS
  • ELECTRIC VEHICLE MARKET, BY VEHICLE CLASS
    • INTRODUCTION
      • Table ELECTRIC VEHICLE MARKET SIZE, BY VEHICLE CLASS, 2017-2030 (THOUSAND UNITS)
    • RESEARCH METHODOLOGY
    • MID-PRICED
      • DECREASE IN BATTERY PRICE WILL BOOST THE DEMAND
        • Table MID-PRICED: ELECTRIC VEHICLE MARKET SIZE, BY REGION, 2017-2030 (THOUSAND UNITS)
    • LUXURY
      • DEMAND FOR HIGH END TECHNOLOGY WILL BOOST THE DEMAND
        • Table LUXURY: ELECTRIC VEHICLE MARKET SIZE, BY REGION, 2017-2030 (THOUSAND UNITS)
    • KEY PRIMARY INSIGHTS
  • ELECTRIC VEHICLE MARKET, BY REGION
    • INTRODUCTION
      • Table ELECTRIC VEHICLE MARKET, BY REGION, 2017-2030 (THOUSAND UNITS)
    • ASIA PACIFIC
      • Table ASIA PACIFIC: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY, 2017-2030 (UNITS)
      • CHINA
        • Table CHINA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017-2030 (UNITS)
      • INDIA
        • Table INDIA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017-2030 (UNITS)
      • JAPAN
        • Table JAPAN: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017-2030 (UNITS)
      • SOUTH KOREA
        • Table SOUTH KOREA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017-2030 (UNITS)
    • EUROPE
      • Table EUROPE: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY, 2017-2030 (UNITS)
      • FRANCE
        • Table FRANCE: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017-2030 (UNITS)
      • GERMANY
        • Table GERMANY: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017-2030 (UNITS)
      • NETHERLANDS
        • Table NETHERLANDS: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017-2030 (UNITS)
      • NORWAY
        • Table NORWAY: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017-2030 (UNITS)
      • SWEDEN
        • Table SWEDEN: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017-2030 (UNITS)
      • UK
        • Table UK: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017-2030 (UNITS)
      • DENMARK
        • Table DENMARK: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017-2030 (UNITS)
      • AUSTRIA
        • Table AUSTRIA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017-2030 (UNITS)
      • SWITZERLAND
        • Table SWITZERLAND: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017-2030 (UNITS)
      • SPAIN
        • Table SPAIN: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017-2030 (UNITS)
    • NORTH AMERICA
      • Table NORTH AMERICA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY, 2017-2030 (UNITS)
      • CANADA
        • Table CANADA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017-2030 (UNITS)
      • US
        • Table US: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017-2030 (UNITS)
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • MARKET RANKING ANALYSIS
    • COMPETITIVE SCENARIO
      • Table NEW PRODUCT DEVELOPMENTS & EXPANSION, 2016-2019
      • Table PARTNERSHIPS/SUPPLY CONTRACTS/COLLABORATIONS/JOINT VENTURES/ AGREEMENTS, 2016-2019
    • GLOBAL COMPETITIVE LEADERSHIP MAPPING (MAJOR PLAYERS)
      • VISIONARY LEADERS
      • INNOVATORS
      • DYNAMIC DIFFERENTIATORS
      • EMERGING COMPANIES
    • COMPETITIVE LEADERSHIP MAPPING (SME/START-UPS)
      • PROGRESSIVE COMPANIES
      • RESPOSIVE COMPANIES
      • DYNAMIC COMPANIES
      • STARTING BLOCKS
    • COMPETITIVE LEADERSHIP MAPPING (EV COMPONENTS)
  • COMPANY PROFILES
    • KEY PLAYERS
      • TESLA MOTORS
      • NISSAN MOTOR
      • BYD
      • BMW
      • VOLKSWAGEN
      • TOYOTA
      • FORD
      • VOLVO
      • DAIMLER
      • HYUNDAI
      • HONDA
      • CONTINENTAL
    • KEY PLAYERS FROM OTHER REGIONS
      • NORTH AMERICA
      • EUROPE
      • ASIA PACIFIC
  • APPENDIX
    • KEY INSIGHTS OF INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report