Electric Vehicle Market to Advance at CAGR of 26.62%, Policy Push, Newer Battery Technologies, and Rise in Consumer Awareness Bolster Growth, Finds TMR Study

Electric Vehicle Market to Advance at CAGR of 26.62%, Policy Push, Newer Battery Technologies, and Rise in Consumer Awareness Bolster Growth, Finds TMR Study

PR Newswire

ALBANY, N.Y., Nov. 8, 2021

- Subsidies, tax exemptions, and other government incentives in various countries to spur sales in electric vehicles market; Asia Pacific and Europe markets to witness rise in sales

- Electrification of passenger vehicles a key trend in carbon mitigating strategies for road transportation, propelling revenue growth for vehicle manufacturers

ALBANY, N.Y., Nov. 8, 2021 /PRNewswire/ -- Electric Vehicle Market: Broad Contours


Electric vehicles (EVs) of all types have been growing as the share of automobile sales in all key automotive markets. The penetration pivots on the growing government incentives, notably subsidies and exemption of road taxes. Of note, state policies are offering subsidies for electric two-wheelers based on basis of the size of their lithium-ion battery packs, promoting adoption of products in the electric vehicle market. Policymakers in developed and emerging economies are offering financial incentives, which help market players strengthen charging station infrastructure and vehicle dealership training.

Leading carbon emitters of the world are embracing electrification of road transport as a key step toward meeting their climate goals. Various legislations notably in India, China, and the U.S. are thus promoting zero-emission vehicle (ZEV) standards, thereby catalyzing automotive manufacturers to increase the production of electric vehicles. In turn, this has spurred the commercialization scope of electric vehicles. Consequently, this has been propelling industry investments in battery infrastructure, especially to spur sales of passenger and commercial vehicles.

Request a Report Sample at https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=75083

Thus, a combination of favorable economics and climates concerns arising from the steadily rising CO2 emissions from the transportation industry are broadening the outlook, finds a TMR study on the electric vehicle market. The electric vehicle market is projected to surpass the valuation of US$ 1.53 Trn by 2031, expanding at a CAGR of 26.62% during 2021 - 2031. Passenger vehicles have emerged as the lucrative segment for players in the electric vehicles market.

Key Findings of Electric Vehicle Market Study

Get a Customized Research Report at https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=75083

Electric Vehicle Market: Drivers

Electric Vehicle Market Study: Key Players

Some of the key players in the electric vehicles market are Volvo Cars, Toyota Motor Corporation, Protean Electric, Nissan Motor Corporation Ltd., Hyundai, Honda Motor Co., Ltd., Motors, Ford Motor Company, Daimler, Continental, BMW, Baic Motor, and ABB Ltd.

Buy an Exclusive Research Report at https://www.transparencymarketresearch.com/checkout.php?rep_id=75083&ltype=S

Global Electric Vehicle Market: Segmentation

Explore Latest Reports by TMR:

About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

For More Research Insights on Leading Industries, Visit our YouTube channel - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Mr Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com 
Press Release: https://www.transparencymarketresearch.com/pressrelease/electric-vehicle-market.htm

Logo: https://mma.prnewswire.com/media/1085206/Transparency_Market_Research_Logo.jpg

Voltar noticias em Inglês