Global Electric Vehicles (EVs) Market Growth 2023-2029

Global Electric Vehicles (EVs) Market Growth 2023-2029

The global Electric Vehicles (EVs) market size is projected to grow from US$ 234550 million in 2022 to US$ 639860 million in 2029; it is expected to grow at a CAGR of 15.4% from 2023 to 2029.

Global key players of Electric Vehicles (EVs) include Tesla, BYD, BMW, Volkswagen, etc. The top four players hold a share over 50%. China is the largest production region, has a share about 53%, followed by Europe, with share 35%. In terms of product type, BEV is the largest segment, occupied for a share of 65%, and in terms of application, Home Use has a share about 75%.

EVs are vehicles that are either partially or fully powered on electric power. Electric vehicles have low running costs as they have less moving parts for maintaining and also very environmentally friendly as they use little or no fossil fuels (petrol or diesel).

Plug-in hybrid electric vehicles (PHEVs) use batteries to power an electric motor and another fuel, such as gasoline, to power an internal combustion engine (ICE). PHEV batteries can be charged using a wall outlet or charging equipment, by the ICE, or through regenerative braking. The vehicle typically runs on electric power until the battery is nearly depleted, and then the car automatically switches over to use the ICE

LPI (LP Information)' newest research report, the “Electric Vehicles (EVs) Industry Forecast” looks at past sales and reviews total world Electric Vehicles (EVs) sales in 2022, providing a comprehensive analysis by region and market sector of projected Electric Vehicles (EVs) sales for 2023 through 2029. With Electric Vehicles (EVs) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Electric Vehicles (EVs) industry.

This Insight Report provides a comprehensive analysis of the global Electric Vehicles (EVs) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Electric Vehicles (EVs) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Electric Vehicles (EVs) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Electric Vehicles (EVs) and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Electric Vehicles (EVs).

This report presents a comprehensive overview, market shares, and growth opportunities of Electric Vehicles (EVs) market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
BEV
PHEV

Segmentation by application
Home Use
Commercial Use

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Tesla
BYD
BMW
Volkswagen
Mercedes-Benz
Stellantis
VOLVO
Hyundai & Kia
Renault
SAIC
Ford
NIO
ONE
XPeng
TOYOTA
GAC Motor
JAC
Nissan
Great Wall Motors
Chery
GEELY

Key Questions Addressed in this Report

What is the 10-year outlook for the global Electric Vehicles (EVs) market?

What factors are driving Electric Vehicles (EVs) market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Electric Vehicles (EVs) market opportunities vary by end market size?

How does Electric Vehicles (EVs) break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.