A recent market intelligence report that is published by Data Insights Partner on Electric Vehicles market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Electric Vehicles market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and world Electric Vehicles market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of international Electric Vehicles market is offered. In accordance with the report, the global Electric Vehicles market is projected to expand at a CAGR of 18.0% over the period of forecast.
Market Insight, Drivers, Restraints& Opportunity of the Market:
An electric vehicle (EV) which is also coined as electric drive vehicles is a car which uses one or more than one electric motors and controllers for propulsion. In the EVs, electricity may be used as transportation fuel to power wheels through electric motor. Electric vehicles have limited ability of energy storage which may be replenished (charged) by plugging through electrical source. The global Electrical Vehicles market is primarily driven by the increasing demand for fuel-efficient low emission vehicles across worldwide. On the other hand, growing awareness about the environment pollution and strict government regulation may lead the growth of the global Electric Vehicles market in the upcoming period- it is estimated that the number of electric vehicles will cross almost 25 Million units by 2030. On the contrary, the growth of the global Electric Vehicles market may be restrained by the higher cost for manufacturing electric vehicles, less number of power stations and lack of standardization of charging infrastructure. However, technological advancements, increasing research and development expenditure, strategic alliance among the key players etc. would likely to provide the global Electric Vehicles market an opportunity to grow in the upcoming period. In Sept. 2019, Volkswagen introduced the ID.3, the new battery operated electric vehicle in the Frankfurt Motor Show, Germany.
This market intelligence report on the global Electric Vehicles market encompasses market segments based on component, vehicle type, power source, charging type and geography. On the basis of component, the sub-markets is segmented into Battery Cells & Packs, On-Board Charger, and Infotainment System. Based on vehicle type, the global Electric Vehicles market has been segregated into two wheelers, passenger cars, commercial vehicles and others. Furthermore, the market is also classified into Sedan, Hatchback, SUV, and others, in terms of passenger cars segment. By power source, the global Electric Vehicles market is also classified into Battery Electric Vehicle (including Lead–Acid Battery, Lead Carbon Battery, Lithium–Ion Battery, Solid-State Battery,) Fuel Cell Electric Vehicle, Plug-In Hybrid Electric Vehicle, Hybrid Electric Vehicle (HEV). In terms of charging type, the global Electric Vehicles market is also categorized into normal charging and super charging. By Geography, the global Electric Vehicles market has been divided into North America (the U.S., Canada), Latin America (Brazil, Mexico, Argentina and other countries), Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries), Asia Pacific (India, Japan, China, Australia and New Zealand and other countries), Middle East and Africa (GCC, South Africa, Israel and Other countries). It is estimated that the Electric Vehicles market in China will propel by the highest CAGR during the forecast period due to increasing demands of electric vehicles and strong awareness about the environment pollution and low emission based vehicles.
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as BYD Company Limited, Volkswgen, DAIMLER AG, General Motors Company, TESLA, Inc., Toyota Motor Corporation, Groupe Renault, Revolt, Honda and Yamaha Corporation among others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Electric Vehicles market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2017-2027. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.