Report Scope: After decades of expensive development and false starts, the world is finally ready for EVs. In this report, the term “electric vehicles” includes commercial approaches such as pure battery-powered, plug-in hybrid, hybrid internal combustion/battery, and FCVs.
New York, Aug. 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Electric Vehicles and Fuel Cell Vehicles: Global Markets" - https://www.reportlinker.com/p02584390/?utm_source=GNW
In addition to cars and trucks, this report also considers motorcycles, e-scooters and buses.
This report discusses three future scenarios, that is, pessimistic, consensus, and optimistic; forecasts are provided for the consensus scenario.Power source (lithium-ion batteries and fuel cells) sales and values are provided.
A patent analysis and discussion of power sources and vehicle components describe the areas in which research is being performed and emphasizes intellectual property issues.
The values are expressed in billions of dollars ($ billions), and shipments/volumes are expressed in thousands of units.Values are based on the equivalent of wholesale, or the price charged to the retailer before mark-up.
However, advanced EVs are sold below the actual manufacturing cost.This may be due to regulatory compliance or the desire to establish a market before the economics of scale take hold.
The cost to consumers may be reduced considerably when government subsidies or possible tax breaks are considered in the dealer price.
As defined for this report, EVs and FCVs include the following -
- BEV (Battery Electric Vehicle).
- HEV (Hybrid Electric Vehicle).
- PHEV (Plug-in Hybrid Electric Vehicle).
- FCEV (Fuel Cell Electric Vehicle).
Specific types of vehicles using these batteries include -
- Passenger vehicles (sedans, microcars, SUVs, crossover SUVs, sports cars).
- E-scooters (two-wheelers, motorcycles).
- Commercial/industrial vehicles (light duty trucks, pick-up truck, heavy duty trucks, vans, etc.)
- Others (niche vehicles & low-velocity vehicles).
BCC Research analyzed each major EV technology, determined its current market status, examined its impact on future markets, and uses this analysis to present growth forecasts over the next five years. Technological issues, including the latest trends, are assessed and discussed, as are the industry’s current and likely regulatory environments.
BCC Research analyzed the industry worldwide regarding the manufacturing and deploying technologies or products.For the most relevant and available EVs, The analyst examined the role of government both in regulating the industry and supporting electric vehicle & fuel cell vehicles through promotional incentives.
The report discusses recent trends and sales and provides industry overviews and market assessments for leading EV technology. Estimated values used are based on manufacturers’ total revenues.
Regional and country-level markets are segmented and analyzed by configuration and application.The report also covers the impact of the COVID-19 pandemic.
The market sizes and estimations are provided regarding revenue, with 2021 as the base year; market forecasts will be given for 2022 to 2027.
Report Includes -
- 184 data tables and 47 additional tables
- An up-to-date overview and analysis of the global and regional markets for electric vehicles (EVs) and fuel cell vehicles (FCVs) within the industry
- Analyses of the global market trends, with market revenue (sales data) for 2021, estimates for 2022 and 2023, and projections of compound annual growth rates (CAGRs) through 2027
- Estimation of the actual market size for electric vehicles and fuel cell vehicles in value and volumetric terms, revenue forecast, and corresponding market share analysis by vehicle type, configuration, power source and geographic region
- Updated information about the industry standards, government and industry support, regulations, and other factors that will shape this market demand in the coming years (2022-2027)
- Market outlook and market assessment for unit shipments of commercially viable EVs and summary of details of power sources that make these vehicles possible
- Discussion of the industry value chain analysis providing a systematic study of the key intermediaries involved, which could further assist stakeholders in formulating appropriate strategies
- In-depth information on increasing investments on R&D activities, key technology issues, industry specific challenges, major types of end-user markets, and COVID-19 implications on the progress of this market
- Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
- Descriptive company profiles of the leading global players, including BMW AG, Ford Motor Co., Honda Motor Co. Ltd., Nissan Motor Co. Ltd., and Tesla Inc.
The global electric vehicle (EV) marketwas valued at REDACTED in 2021 and is projected to reach REDACTED by 2027. This market is expected to grow at a CAGR of REDACTED during the forecast period of 2022 to 2027
The market value of electric passenger cars is expected to reach around REDACTED by the end of 2027.Although e-scooters have the largest share in unit sales in the overall EV market, the passenger EV segment holds the highest share in revenue among all the EV segments.
The EV market’s significant growth in revenue will come from the increasing number of passenger vehicles due to the increasing unit sales and higher unit sale costs.
By region, Asia-Pacific leads the global electric vehicles market.China leads the Asia-Pacific region and the world market in unit sales of electric cars/passenger cars.
Europe andNorth America followAsia- Pacific in terms of passenger car unit sales. China also leads the world in e-scooterunit sales and revenue.
Multiple elements contribute to the success of EVs.The principal pillar is enduring policy support.
Public EV subsidies and incentive expenditures increased to nearly REDACTED in 2021. A rising number of nations have promised to eliminate internal combustion engines or have aggressive car electrification goals for the coming decades.Meanwhile, many automakers have plans to electrify fleets that exceed legislative goals. In 2021, there were five times as many new EV models as in 2015, increasing their appeal to consumers. There are over REDACTED EV models available on the market.
The COVID-19 outbreak and Russia and Ukrainewar have created a sudden disruption in global supply chains, particularly in the automotive industry.Soon, delays in EV delivery to clients may stifle sales growth in some countries.
However, in the long run, government and business efforts to electrify transportation are laying a solid foundation for future EV sales growth.
Access to public charging will need to extend as EV markets grow.Most EV charging now occurs at people’s homes and offices.
Consumers will increasingly demand EVs provide the same services, simplicity, and autonomy as conventional automobiles.
According to the IEA, in 2021, there were REDACTED publicly accessible charging points worldwide, with a third of them being fast chargers.In 2021, almost REDACTED charging stations were installed, nearly double the number of public charging stations available in 2017.
In 2021, the number of publicly accessible chargers increased by REDACTED, lower than the growth rate of REDACTED in 2020 and pre-pandemic rollout rates.Between 2015 and 2019, the average yearly growth rate was about REDACTED.
Fast charging climbed slightly more in 2021 than in 2020 (REDACTED vs. REDACTED), while slow charging’s growth declinedsignifica ntly (REDACTED compared with REDACTED).
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