Europe, Asia-Pacific, South America and Middle East & Africa Electric Vehicle Market
The Europe, Asia-Pacific, South America and Middle East & Africa electric vehicle market is expected to reach USD 1,441.88 billion by 2031 from USD 394.31 billion in 2023, growing with a CAGR of 17.8% in the forecast period of 2024 to 2031.
Market SegmentationEurope, Asia-Pacific, South America and Middle East & Africa Electric Vehicle Market, Voltage Range (250 to 400 Volt, Less Than 100 Volt, 100 to 250 Volt, 400 to 800 Volt, and More Than 800 Volt), Connectivity Type (V2G, V2X, V2V, and V2B Or V2H), Battery Form (Cylindrical, Prismatic, and Pouch), Battery Type (Lithium Ion, Nickel Metal Hydride, Lead Acid, Sodium Ion Battery, and Solid State), Power Output Type (100 To 250 KW, Less Than 100 KW, and More Than 250 KW), Electric Motor Type (Permanent Magnet, Synchronous Motors, Brushless DC Motors, DC Motors, and Three Phase Induction Motors), Vehicle Speed (Less Than 100 Mph, 100 To 125 Mph, and More Than 125 Mph), Vehicle Type (Passenger Car, Commercial Vehicle, and Two-Wheeler), Propulsion Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), and Fuel Cell Electric Vehicle (FCEV)), Drive Type (Front Wheel Drive, Rear Wheel Drive, and All Wheel Drive), Sales Channel (OEM and Aftermarket), Country (Germany, France, Norway, Italy, Spain, Sweden, Denmark, Russia, Finland, Poland, Turkey, Hungary, Serbia, Rest of Europe, China, Japan, India, South Korea, Australia & New Zealand, Thailand, Malaysia, Indonesia, Vietnam, Singapore, Philippines, Myanmar, Bangladesh, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Morocco, Egypt, Ethiopia, Qatar , Nigeria, Ghana, Namibia, Angola, Tanzania, Kuwait, Oman, Kenya, Zambia, Rest of Middle East and Africa, Brazil, Argentina, Chile, Bolivia, and Rest of South America) - Industry Trends and Forecast to 2031
Overview of Europe, Asia-Pacific, South America and Middle East & Africa Electric Vehicle Market Dynamics
Driver• Growing focus on environmental issues underscoring rising global concerns
Restraint• Continuous innovation of technologies leading higher expectation for devices
Opportunity • Growing focus toward recycling and disposal services of EV batteries
Market PlayersSome of the major market players operating in the Europe, Asia-Pacific, South America and Middle East & Africa electric vehicle market are:• Ford Motor Company
• Tesla
• General Motors
• MITSUBISHI MOTORS CORPORATION
• Lucid
• Nissan Motor Co., Ltd.
• Geely Auto
• BAIC Group Co., Ltd.
• JAC
• Nikola Corporation
• Rivian
• Stellantis NV
• Great Wall Motor
• TOYOTA MOTOR CORPORATION
• Hyundai Motor Company
• BMW AG
• Mercedes-Benz Group AG
• Renault Group
• BYD Company Ltd.
• Volkswagen Group
• ASHOK LEYLAND
• AB Volvo
• SAIC Motor Corporation Limited
• Solaris Bus & Coach sp. z o.o.
• Tata Motors Limited