Global Electric Vehicle (EV) Market 2024-2028
The electric vehicle (EV) market is forecasted to grow by USD 343.01 bn during 2023-2028, accelerating at a CAGR of 13.51% during the forecast period. The report on the electric vehicle (EV) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for low-emission vehicles, stringent rules and regulations on vehicles, and declining prices of lithium-ion batteries.
Technavio's electric vehicle (EV) market is segmented as below:
By Type
By Charging
- Normal charging
- Super charging
By Geographical Landscape
- APAC
- Europe
- North America
- South America
- Middle East and Africa
This study identifies the charging stations powered by renewable energy as one of the prime reasons driving the electric vehicle (EV) market growth during the next few years. Also, the availability of new mobility modes and integration of telematics and autonomous technologies will lead to sizable demand in the market.
The report on the electric vehicle (EV) market covers the following areas:
- Electric vehicle (EV) market sizing
- Electric vehicle (EV) market forecast
- Electric vehicle (EV) market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading electric vehicle (EV) market vendors that include Bayerische Motoren Werke AG, BYD Co. Ltd., Chery Automobile Co. Ltd., Chongqing Changan Automobile Co. Ltd., Dongfeng Motor Group Co. Ltd., Ford Motor Co., Geely Auto International Corporation, General Motors Co., Guangzhou Automobile Group Co. Ltd., Honda Motor Co. Ltd., Hyundai Motor Co., Mahindra and Mahindra Ltd., Mercedes Benz Group AG, Nissan Motor Co. Ltd., Renault SAS, SAIC Motor Corp. Ltd., Stellantis NV, Tesla Inc., Toyota Motor Corp., and Volkswagen AG. Also, the electric vehicle (EV) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.