Electric Vehicle Market by Type (Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle, and Fuel Cell Electric Vehicle), Vehicle Type (Two-Wheelers, Passenger Cars, and Commercial Vehicles), Vehicle Class (Mid-Priced and Luxury), Top Speed (Less Than 100 MPH, 100 to 125 MPH, and More Than 125 MPH) and Vehicle Drive Type (Front Wheel Drive, Rear Wheel Drive, and All Wheel Drive): Global Opportunity Analysis and Industry Forecast, 2021-2030
Electric vehicle uses stored energy in its rechargeable batteries to function. Plug-in hybrid electric vehicle uses gas as a primary source of fuel, which is supplemented with electricity from batteries to improve efficiency. A battery electric vehicle (BEV) is fully dependent on batteries. The electric energy stored in the batteries of the vehicle is converted into kinetic energy due to which power is developed for the propelling of the engine. The usage of electric batteries will result in an emission less vehicle, which makes them ecofriendly. Electric vehicle manufacturers are focused on developing emission less, lightweight, and technically advanced electric vehicles to gain a competitive edge.
The report incorporates the study of the global electric vehicle market that focuses on the type of electric vehicles and alternative fuels used in different vehicles. An electric vehicle functions on electricity and does not use conventional fuels, such as gasoline or diesel, as its power source. The chemical energy of alternative fuel is converted into kinetic energy in the engine to propel the vehicle. Moreover, the usage of alternative fuel and electricity in these vehicles lead to zero emissions, making them ecofriendly. The advent of electric vehicles is a paradigm shift in the modern world. Automobile manufacturers are inclined toward electric and alternative fuel vehicles due to increase in vehicle emission regulations.
Factors such as increase in demand for fuel-efficient, high-performance, & low-emission vehicles, stringent government rules & regulations toward vehicle emission along with reduction in cost of electric vehicle batteries and increasing fuel costs supplement the growth of the electric vehicle market. Moreover, factors such as lack of charging infrastructure, high manufacturing cost and range anxiety & serviceability are the factors expected to hamper the growth of the electric vehicle market. However, technological advancements, proactive government initiatives and development of self-driving electric vehicle technology providing the opportunities for the growth electric vehicle market.
The global electric vehicle market is segmented on the basis of type, vehicle type, vehicle class, top speed, vehicle drive type, and region. By type, it is divided into battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), and fuel cell electric vehicle (FCEV). By vehicle type, it is classified into two-wheelers, passenger cars, and commercial vehicles. By vehicle class, it is classified into mid-priced and luxury class. Based on top speed the global electric vehicle market is segmented into less than 100 MPH, 100 to 125 MPH, and more than 125 MPH. By vehicle drive type, the market is segmented into front wheel drive, rear wheel drive, and all-wheel drive. By region, the market is analyzed across North, Europe, Asia-Pacific and LAMEA.
The key players operating in this market are Ampere Vehicles, Benling India Energy and Technology Pvt Ltd, BMW AG, BYD Company Limited, Chevrolet Motor Company, Daimler AG, Energica Motor Company S.p.A., Ford Motor Company, General Motors, Hero Electric, Hyundai Motor Company, Karma Automotive, Kia Corporation, Lucid Group, Inc., Mahindra Electric Mobility Limited, NIO, Nissan Motors Co., Ltd., Okinawa Autotech Pvt. Ltd., Rivain, Tata Motors, Tesla, Inc., Toyota Motor Corporation, Volkswagen AG, WM Motor, and Xiaopeng Motors.
KEY BENEFITS FOR STAKEHOLDERS
This study presents analytical depiction of the global electric vehicle market along with the current trends and future estimations to depict the imminent investment pockets.
The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current market is quantitatively analyzed from 2020 to 2030 to highlight the financial competency of the market.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
By Type
Battery Electric Vehicle
Plug-in Hybrid Electric Vehicle
Fuel Cell Electric Vehicle
By Vehicle Type
Two-Wheelers
Passenger Cars
Commercial Vehicles
By Vehicle Class
Mid-Priced
Luxury
By Top Speed
Less Than 100 MPH
100 to 125 MPH
More Than 125 MPH
By Vehicle Drive Type
Front Wheel Drive
Rear Wheel Drive
All Wheel Drive
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
The Netherlands
Norway
Rest of Europe
Asia-Pacific
China
Japan
India
Singapore
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
KEY PLAYERS
Ampere Vehicles
Benling India Energy and Technology Pvt Ltd
BMW AG
BYD Company Limited
Chevrolet Motor Company
Daimler AG
Energica Motor Company S.p.A.
Ford Motor Company
General Motors
Hero Electric
Hyundai Motor Company
Karma Automotive
Kia Corporation
Lucid Group, Inc.
Mahindra Electric Mobility Limited
NIO
Nissan Motors Co., Ltd.
Okinawa Autotech Pvt. Ltd.
Rivain
Tata Motors
Tesla Inc.
Toyota Motor Corporation
Volkswagen AG
WM Motor
Xiaopeng Motors
List of Company Profiles
Ampere Vehicles
Benling India Energy and Technology Pvt Ltd
BMW AG
BYD Company Limited
Chevrolet Motor Company
Daimler AG
Energica Motor Company S.p.A.
Ford Motor Company
General Motors
Hero Electric
Hyundai Motor Company
Karma Automotive
Kia Corporation
Lucid Group, Inc.
Mahindra Electric Mobility Limited
NIO
Nissan Motors Co., Ltd.
Okinawa Autotech Pvt. Ltd.
Rivain
Tata Motors
Tesla, Inc.
Toyota Motor Corporation
Volkswagen AG
WM Motor
Xiaopeng Motors.
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