Global Electric Mobility Market to Reach US$3.0 Trillion by 2030
The global market for Electric Mobility estimated at US$930.8 Billion in the year 2024, is expected to reach US$3.0 Trillion by 2030, growing at a CAGR of 21.5% over the analysis period 2024-2030. Electric Cars, one of the segments analyzed in the report, is expected to record a 21.1% CAGR and reach US$2.2 Trillion by the end of the analysis period. Growth in the Electric Bikes segment is estimated at 23.8% CAGR over the analysis period.
The U.S. Market is Estimated at US$255.6 Billion While China is Forecast to Grow at 20.4% CAGR
The Electric Mobility market in the U.S. is estimated at US$255.6 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$452.3 Billion by the year 2030 trailing a CAGR of 20.4% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 19.1% and 18.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 14.2% CAGR.
Global Electric Mobility Market - Key Trends & Drivers Summarized
Electric mobility is rapidly transforming the transportation landscape, offering a sustainable alternative to traditional internal combustion engine vehicles. Electric vehicles (EVs), including cars, buses, bikes, and scooters, utilize electric powertrains to reduce carbon emissions and dependence on fossil fuels. Advances in battery technology, particularly lithium-ion batteries, have significantly enhanced the range, efficiency, and affordability of EVs. Governments worldwide are promoting electric mobility through incentives, subsidies, and stringent emission regulations, encouraging both consumers and manufacturers to transition to cleaner modes of transportation. This shift is also supported by the development of extensive charging infrastructure, making EVs more convenient and accessible for everyday use.
Recent trends in electric mobility highlight a surge in EV adoption and innovation. The automotive industry is witnessing a flurry of new EV models, ranging from compact city cars to luxury sedans and SUVs, catering to diverse consumer preferences. Additionally, advancements in battery technology, such as solid-state batteries and ultra-fast charging systems, are addressing key challenges related to range anxiety and charging time. The integration of smart technologies, including autonomous driving capabilities and connected car features, is further enhancing the appeal of electric vehicles. Moreover, there is a growing focus on the lifecycle sustainability of EVs, with increased efforts in recycling and reusing batteries to minimize environmental impact.
The growth in the electric mobility market is driven by several factors. One of the primary drivers is the escalating environmental concerns and the global push for reducing greenhouse gas emissions, prompting regulatory bodies to enforce stricter emission standards. Technological advancements, particularly in battery performance and charging infrastructure, are making electric vehicles more practical and appealing to consumers. Additionally, the declining cost of batteries and the increasing availability of various EV models are making electric mobility more economically viable for a broader audience. Consumer behavior is also shifting, with greater awareness and preference for sustainable and eco-friendly transportation options. Furthermore, significant investments from automotive manufacturers and tech companies in R&D and production facilities are accelerating the market expansion. These factors collectively underscore the dynamic growth and future potential of the electric mobility market.
SCOPE OF STUDY:TARIFF IMPACT FACTOR
Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.
We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.
We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.
As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.
To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!
APRIL 2025: NEGOTIATION PHASE
Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.
JULY 2025 FINAL TARIFF RESET
Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.
Reciprocal and Bilateral Trade & Tariff Impact Analyses:
USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.
Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.
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