Electric Car Market, By Vehicle Type (Battery Electric Vehicles (BEVs), Plug-in Hybrid Electric Vehicles (PHEVs), and Hybrid Electric Vehicles (HEVs)), By Battery Type (Lithium-Ion, Solid-State, and Nickel-Metal Hydride), By Range (150-300 miles, Below 15

Electric Car Market, By Vehicle Type (Battery Electric Vehicles (BEVs), Plug-in Hybrid Electric Vehicles (PHEVs), and Hybrid Electric Vehicles (HEVs)), By Battery Type (Lithium-Ion, Solid-State, and Nickel-Metal Hydride), By Range (150-300 miles, Below 150 miles, and Above 300 miles), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Global electric car market has been witnessing strong growth over the past few years driven by rising environmental concerns, stringent government regulations regarding vehicular emissions, and focus on developing a sustainable transport ecosystem. The market is expanding at an accelerated pace owing to favorable government policy support in the form of purchase incentives and subsidies for electric vehicles and charging infrastructure development. Moreover, increasing investments by automakers as well as technology giants in developing affordable EV models with longer driving range is further fueling adoption. However, volatile lithium-ion battery costs remain a key challenge for the industry. With continued technological advancements, growing consumer demand for green mobility solutions, and supportive regulatory framework, the global electric car market is well-positioned for significant expansion in the coming years.

Market Dynamics:

The global electric car market is driven by various factors such as rising environmental concerns worldwide about vehicular emissions, stringent government regulations and policies promoting electric vehicle adoption, and increasing investment by automotive OEMs to develop affordable and long-range electric cars. However, high manufacturing costs of electric vehicles and lack of standardization in EV charging infrastructure act as a restraint. Ongoing R&D in battery technologies to achieve higher density and lower costs as well as development of solid-state batteries provide a lucrative opportunity in the market.

Key Features of the Study:

This report provides in-depth analysis of the global electric car market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global electric car market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Tesla, Inc., Nissan Motor Corporation, BMW AG, Ford Motor Company, General Motors Company, Volkswagen AG, Hyundai Motor Company, Kia Corporation, Audi AG, Mercedes-Benz AG, BYD Company Limited, Rivian Automotive, Inc., Lucid Motors, Inc., Polestar Automotive Holding AB, and Volvo Cars

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global electric car market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electric car market

Detailed Segmentation-

Vehicle Type Insights (Revenue, US$ Bn, 2019 - 2031)

Battery Electric Vehicles (BEVs)

Plug-in Hybrid Electric Vehicles (PHEVs)

Hybrid Electric Vehicles (HEVs)

Battery Type Insights (Revenue, US$ Bn, 2019 - 2031)

Lithium-Ion

Solid-State

Nickel-Metal Hydride

Range Insights (Revenue, US$ Bn, 2019 - 2031)

150-300 miles

Below 150 miles

Above 300 miles

Regional Insights (Revenue, USD Bn, 2019 - 2031)

North America

U.S.

Canada

Latin America

Brazil

Argentina

Mexico

Rest of Latin America

Europe

Germany

U.K.

Spain

France

Italy

Russia

Rest of Europe

Asia Pacific

China

India

Japan

Australia

South Korea

ASEAN

Rest of Asia Pacific

Middle East

GCC Countries

Israel

Rest of Middle East

Africa

South Africa

North Africa

Central Africa

Key Players Insights

Tesla, Inc.

Nissan Motor Corporation

BMW AG

Ford Motor Company

General Motors Company

Volkswagen AG

Hyundai Motor Company

Kia Corporation

Audi AG

Mercedes-Benz AG

BYD Company Limited

Rivian Automotive, Inc.

Lucid Motors, Inc.

Polestar Automotive Holding AB

Volvo Cars