BANGALORE, India, June 4, 2020
BANGALORE, India, June 4, 2020 /PRNewswire/ -- The global Electric Vehicle Market Size was estimated at USD 162.34 Billion in 2019 and is expected to reach USD 802.81 Billion by 2027, at a CAGR of 22.6 percent.
An automobile with a large battery to store energy and propelled by one or more electric motors is known as an electric vehicle. Some of these vehicles also come with an additional Internal Combustion Engine (ICE). Such vehicles are called Hybrid Electric Vehicles (HEVs). When a hybrid electric vehicle is provided with a plug-in function for directly recharging the battery, it is known as a Plug-in Hybrid Vehicle (PHEV). The difference between a HEV and a PHEV is their battery capacity and the ability to charge the battery via a direct power source.
The global electric-vehicle (EV) industry is expanding rapidly. The regional output differs, with some EV markets reaching near-mainstream status, while others remain neutrally stuck. However, the Global EV sales are getting big enough to create substantial profit pools for well-positioned suppliers and other upstream players.
This report presents the analytical depiction of the global EV, HEV and PHEV market analysis along with the current trends and future estimations to depict imminent investment pockets.
TRENDS INFLUENCING THE ELECTRIC VEHICLE MARKET SIZE:
ELECTRIC VEHICLE MARKET SHARE ANALYSIS
KEY MARKET SEGMENTS
By Vehicle Class
By Vehicle Type
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● Electric Car Market Report
Global Electric Car Market Size is Projected to Reach USD 1438.8 Billion by 2025 with a CAGR of 19.40%.
Some of the major factors driving the growth of Electric car market size are, fuel-efficiency, high-performance, stringent government rules and regulations toward car emission. Electric cars are getting close to the sales price of gasoline and diesel-powered cars. This, in turn, is expected to fuel the adoption of electric cars during the forecast period.
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● Low-Speed Electric Vehicle Market Report
The global low-speed electric vehicle market size was valued at USD 2.3958 Billion in 2017 and is projected to reach USD 7.6173 Billion by 2025, at a CAGR of 15.4% from 2018 to 2025.
The growth of Low-Speed Electric Vehicle Market size is powered by strict government legislation and restrictions on vehicle emissions and an increase in fuel cost. In addition, the rise in pollution, technological advances, and the decrease in fossil fuel reserves have fuelled the growth in low-speed electric vehicle development and production.
● Electric Vehicle Battery Market Report
The global Electric Vehicle Battery Market size was valued at USD 23 Billion in 2017 and is projected to reach USD 84 Billion by 2025, growing at a CAGR of 17.2 percent from 2018 to 2025. Over the last two decades, the emergence of Lithium-ion technology has fuelled the growth rate of batteries.
High-energy density, charging retention capacity, and low maintenance are some of the advantages that accelerated Li-ion 's growth as battery technology. Automotive manufacturers introducing BEVs and PHEVs into the EV battery market are further enhancing the technology and are expected to offer Li-ion powered solutions as their vehicle's primary power source.
● Electric Truck Market Report
● Electric Vehicle Charging System Market Report
The global electric vehicle charging system market size was valued at USD 3.18 Billion in 2018 and is projected to reach USD 66.27 Billion by 2026, at a 45.6 percent CAGR from 2019 to 2026.
An electric vehicle charging system is an infrastructure that supplies electric energy for the charging of plug-in electric vehicles, including electric cars and plug-in hybrids.
Electric vehicles are gaining a lot of traction in the developed regions, namely North America and Europe, making them the industry-leading revenue drivers for electric vehicle charging systems.
Asia-Pacific is a lucrative market with a high potential for growth due to the fast-growing number of electric vehicles in countries such as China and Japan. Japan has the highest density of fast electric-vehicle charging stations within the Asia-Pacific region.
● Electric Vehicle Charger Market Report
The electric vehicle charger market size was estimated at USD 3.8 Billion in 2019 and is expected to hit USD 25.5 Billion by 2027, at a CAGR of 26.8 percent between 2020 and 2027.
● Electric Vehicle (EV) Transmission Market Report
The global transmission of electric vehicles ( EV) market size was valued at USD 2.52 Billion in 2018 and is projected to reach USD 15.38 Billion by 2026, at a CAGR of 25.8 percent from 2019 to 2026.
This study presents the analytical representation of the global market analysis for transmission of electric vehicles ( EV) along with current trends and future estimates to depict the imminent pockets of investment.
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