Electric Vehicle Market by Propulsion (BEV, PHEV, FCEV), Vehicle (PC, CV), Charging Station (Normal, Super, Inductive), Charging Infrastructure (Normal, Type-2-AC, CHAdeMO, CCS, Tesla SC), Power Output, Installation, and Region - Global Forecast to 2025
“Availability of government support such as subsidies and tax rebates, increasing consumer awareness, increasing vehicle range, and low charging time have driven the demand for Electric Vehicles globally.”
The global electric vehicle sales is estimated to grow from 1.50 million units in 2018 to 10.79 million units by 2025, at a CAGR of 32.57%. Government subsidies and tax rebates, variety of EV models, increasing vehicle range, and improving charging infrastructure are the factors responsible for the growth of the sales of EVs. Lack of standardization is a major restraint for the growth of the electric vehicle market.
“Combined Charging System (CCS) segment is the fastest growing market in terms of charging infrastructure market”
The Combined Charging System (CCS) is the fastest growing market in terms of charging infrastructure. It is attributed to the fact that the CCS standard is supported by several US and European automakers. Also, the safety features of CCS include diagnosable lock, proximity and control pilot, and PLC-based communication which drive the growth of CCS infrastructure of EV charging stations.
“North America is the fastest growing market in terms of sales”
North America is the fastest market for electric vehicles followed by Asia Pacific. Existing grants and subsidies, tax rebates, and availability of charging infrastructure are contributing to the growth in EV sales in this region. North America is a regional hub for many renowned OEMs, which are known for delivering quality and high-performance vehicles. The OEMs in North America such as Tesla and GM have focused on the development of faster, cleaner, and high-performance electric vehicles.
The study contains insights provided by various industry experts, ranging from online retailers to Tier-1 companies and OEMs. The break-up of the primaries is as follows:
By Company Type: Tier I-42%, Tier II-40%, and Tier III-18%,
By Designation: C Level-57%, D Level-29%, and Others-14%
By Region: North America-28%, Europe-27%, Asia-Pacific-34%, and RoW-11%
Players Profiled in the Report are:
Tesla Motors, Inc. (US)
Nissan Motor Corporation (Japan)
BYD Company Limited (China)
Hyundai (South Korea)
The report provides a picture of global electric vehicles market along with the market details with respect to different regions and countries. It aims at estimating the market size and future growth potential of this market across different segments such as by propulsion type, vehicle type, charging station type, charging infrastructure type, power output type, installation type, and region. Apart from it, the report also covers the government regulations regarding the subsidies and grants available for EVs, future technology roadmap which includes battery and charging time. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall electric vehicles market and their subsegments. This report will help stakeholders to understand the competitor landscape better and gain more insights to position their businesses better and make suitable go-to-market strategies. The report also helps the stakeholders to understand the pulse of the market and provides the information on key market drivers, restraints, challenges, and opportunities.
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