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Electric Vehicle Market Research Forecast 2020 to 2026! Know Why You Really Need it?

Electric Vehicle Market Overview:

The global electric vehicle market is expected to gain momentum from a rise in the demand for battery-powered or hybrid vehicles. This information is published in a report by Fortune Business Insights, titled, “Electric Vehicle Market Size, Share and Industry Analysis, By Type (Battery Electric Vehicles (BEV), Plug-In Hybrid Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV), and Others), By Vehicle Type (Passenger Cars and Commercial Vehicles), and Regional Forecast, 2019-2026.” According to the report, the market is projected to reach 24.6 Million units by 2026, thereby exhibiting a CAGR of 32.3% during the forecast period.

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However, the electric vehicle market size was at 2.5 Million units in 2018. Moreover, impact of the conventional fuel vehicle on the environment and increasing fuel prices are likely to propel the market in the coming years.

some of the key players in the global electric vehicle market. They are as follows:

  • Bayerische Motoren Werke AG (BMW)
  • Nissan Motors Co. Ltd.
  • Daimler AG
  • Energica Motor Company S.P.A
  • General Motors Company
  • Tesla, Inc.
  • Toyota Motor Corporation
  • BYD Company Limited
  • Volkswagen AG
  • Geely Automobile Holding Limited
  • Groupe Renault
  • Ford Motors
  • Jiangling Motors Corporation Limited
  • Lucid Motors, Inc.
  • Zotye International Automobile Trading Co. Ltd.

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Regional Overview:

North America’s Growth Will Be Backed by Rising Awareness Programs About Air Pollution

The market is geographically grouped into Latin America, the Middle East and Africa, North America, Asia Pacific, and Europe. Amongst these regions, North America is anticipated to exhibit the highest market growth due to a rise in the adoption of fuel-efficient vehicles. Combined with this, increasing awareness programs regarding air pollution as well as growing disposable income of the masses are expected to contribute to the growing electric vehicle market share across this region.

Key Segmentation of Electric Vehicle Market:

By Type

  • Battery Electric Vehicles (BEV)
  • Plug-In Hybrid Electric Vehicles (PHEV)
  • Hybrid Electric Vehicles (HEV)

Electric Vehicle Market Segments by Vehicle Type

  • Passenger Cars
  • Commercial Vehicles

By Geography

  • North America (U.S., Canada and Mexico)
  • Europe (Germany, France, The U.K and Rest of Europe)
  • Asia Pacific (Japan, China, India, South Korea, Scandinavia, and Rest of Asia Pacific)
  • Rest of the World

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Implementation of Favorable Government Initiatives to Drive Electric Vehicle Market Growth

The governments of several countries are offering attractive incentives and policies to boost the market sales. Consumers are offered multiple benefits, such as free charging of vehicles at numerous charging stations, low or zero registration fees, and decreased selling prices. Furthermore, they are providing an exemption in road tax, import tax, and purchase tax under various subsidies. These have encouraged automotive manufacturers to design and produce electric vehicles in huge quantities. Besides, the government have begun investing in and creating favorable policies for infrastructure development.

Table of Content from electric vehicle market:

  1. Introduction

1.1. Research Scope

1.2. Market Segmentation

1.3. Research Methodology

1.4. Definitions and Assumptions

  1. Executive Summary
  2. Market Dynamics

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities

  1. Key Insights

4.1 Mergers, Acquisitions and Partnerships

4.2 Distributor Analysis For Major Players

4.3 Growth and Penetration Analysis

4.4 Porter’s Five Forces Analysis

4.5 PEST Analysis

4.6 Vendor landscape

  1. Global Electric Vehicle Market Analysis, Insights and Forecast, 2015-2025

5.1. Key Findings / Summary

5.2. Market Analysis, Insights and Forecast By Type

5.2.1 BEV

5.2.2 PHEV

5.2.3 HEV

5.3. Market Analysis, Insights and Forecast By Vehicle Type

5.3.1 Passenger car

5.3.2 Commercial Vehicle

5.4. Market Analysis, Insights and Forecast By Region

5.4.1 North America

5.4.2 Europe

5.4.3 Asia pacific

5.4.4 Rest of the World

  1. North America Electric Vehicle Market Analysis, Insights and Forecast, 2015-2025

6.1. Key Findings / Summary

6.2. Market Analysis By Type

6.2.1 BEV

6.2.2 PHEV

6.2.3 HEV

6.3. Market Analysis By Vehicle Type

6.3.1 Passenger car

6.3.2 Commercial Vehicle

6.4. Market Analysis By Country

6.4.1 U.S.

6.4.2 Canada

6.4.3 Mexico

TOC Continued!!!

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Arthur Siegrist

By Arthur Siegrist

Arthur has nearly a decade of media experience. Before joining FBI Market News, he ran content operations of several local news journals. He also vast experience stock market, corporate communications, public relations, and digital marketing. Arthur holds a commerce degree from the University of Oakland and a post-graduate degree in English from NYU.