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Worldwide Electric Vehicle Industry to 2025 - Key Drivers and Challenges

·7-min read

Dublin, Sept. 07, 2021 (GLOBE NEWSWIRE) -- The "Global Electric Vehicle Market Outlook, 2025" report has been added to ResearchAndMarkets.com's offering.

This report identifies and discusses recent developments in electric mobility across the globe. The market that was recorded at a value of USD 27.85 Billion in the year 2014 is anticipated to grow with a CAGR of over 30% in terms of volume through the forecasted period. This report not only serves with the facts, figures, and forecasts but also has a detailed study about the COVID-19 effect on the electric vehicle industry.

Electric vehicles use one or more electric motors or traction motors for propulsion. Electric vehicles are a battery electric vehicle (BEV) or a plug-in hybrid electric vehicle (PHEV). The BEV segment includes the vehicles that only use chemical energy stored in rechargeable batteries, with no secondary source of propulsion, while the PHEV segment considers whose battery can be recharged by plugging it into an external source of electric power, and by its on-board engine and generator. Globally, the BEV segment leads the market and is expected to reach over 80% in terms of volume, while the PHEV segment is to portray an anticipated CAGR of 36.03%, through the forecasted period.

The Asia Pacific market is expected to witness the fastest growth, followed by Europe and North America. The automotive industry in the countries such as China, Japan, and South Korea is inclined toward innovation, technology, and the development of the advanced electric vehicle. While Asia was contributed to a share of 61.34% by volume in 2019, Europe is expected to increase to a share of 28.04% by value by the end of the year 2025. On the other hand, the least contributing regions of Latin America and Middle East & Africa together would be contributing nothing over 3%.

The mid-priced vehicle class has limited features with less emphasis on expensive features, yet ruled the market with a share of over 70% in 2019. The small urban car will cost only USD 8,680 after incentives with a range of almost 200 miles. Companies are manufacturing comparatively less expensive vehicles, however, with the increase in the disposal income and government incentives, the market is likely to get inclined towards the luxury class segment which is expected to account for an approx share of 40% by end of the forecasted period. As the acknowledgment of commercial electric vehicles is increasing, the segment is likely to reach a market of over 800 Thousand Units by the end of 2025, while the passenger vehicle continues to lead the market. The market for an electric vehicle is potential given the longevity and price of the batteries.

Gaining popularity in 2018, the electric Go-Karting is expected to be the next big thing in the industry. The governments of various countries have formulated stringent CO2 emission norms that have increased the demand for electric vehicles. Besides, the governments are providing incentives and subsidies to encourage EV sales. Even though electric vehicles are a need of the hour, the market is hurdled highly because of the lack of infrastructure and the high manufacturing cost. The gap between the existing infrastructure and the required one for the electric vehicle to overtake the conventional vehicles is huge, becoming a major fuel for the range anxiety among the drivers. The lack of standardization in the charging load is also a major drawback for the global market. The standards differentiate even among the region such as China have GB/T while Japan follows CHAdeMO. Conversely, Korea follows the CCS standards in similar to Europe, and the US. Electric vehicle manufacturers are focusing on overcoming this obstacle by having their charging network.

Companies Mentioned:

Tesla, BMW Group, Nissan Motor Corporation, Toyota Motor Corporation, Volkswagen AG, General Motors, Daimler AG, Energica Motor Company BYD Company Motors, and Ford Motor Company, Aiways, Citroen, Lightening GT, Micro Mobility, Zacua, Nio, MW Motors, Peugeot, PoleStar Venturi

Key Points Covered in this report:

  • Market Evolution through value and volume CAGRs at different verticals

  • Detailed discussion on the market dynamics that influence the market and the possible opportunities

  • In sights on the market leader's performance including market shares, strategies, products, financial positions, etc

This report would help you answer the following questions:
1. What is the market size and forecast of the Global Electric Vehicle Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Electric Vehicle Market during the forecast period?
3. Which region outstands in the Global Electric Vehicle Market?
4. Which are the segments to invest in over the forecast period in the Global Electric Vehicle Market?
5. What is the competitive strategic window for opportunities in the Global Electric Vehicle Market?
6. What are the technology trends and regulatory frameworks in the Global Electric Vehicle Market?
7. What are the major company in the Global Electric Vehicle Market?

Key Topics Covered:

1 Executive Summary

2 Report Methodology

3 Global Electric Vehicles Market Outlook
3.1 Market Size
3.1.1 By Value
3.1.2 By Volume
3.2 Market Share
3.2.1 By Vehicle Type
3.2.2 By Propulsion Type (BEV & PHEV)
3.2.3 By Charging Type
3.2.4 By Vehicle Class (Mid-price & Luxury)
3.2.5 By Region
3.2.6 By Country
3.2.7 By Company
3.3 Global BEV Market Outlook
3.4 Global PHEV Market Outlook

4 North America Electric Vehicle Market Outlook
4.1 Market Size
4.2 Market Share
4.3 North America BEV & PHEV Market Outlook
4.4 US Market Electric Vehicle Market Outlook
4.5 Canada Market Electric Vehicle Market Outlook
4.6 Mexico Market Electric Vehicle Market Outlook

5 Europe Electric Vehicle Market Outlook
5.1 Market Size
5.2 Market Share
5.3 Europe BEV & PHEV Market Outlook
5.4 Germany Market Electric Vehicle Market Outlook
5.5 UK Market Electric Vehicle Market Outlook
5.6 France Market Electric Vehicle Market Outlook
5.7 Norway Market Electric Vehicle Market Outlook
5.8 Netherlands Market Electric Vehicle Market Outlook
5.9 Sweden Market Electric Vehicle Market Outlook

6 Asia Pacific Electric Vehicle Market Outlook
6.1 Market Size
6.2 Market Share
6.3 Asia Pacific BEV & PHEV Market Outlook
6.4 China Market Electric Vehicle Market Outlook
6.5 Japan Market Electric Vehicle Market Outlook
6.6 India Market Electric Vehicle Market Outlook
6.7 Australia Market Electric Vehicle Market Outlook
6.8 Korea Market Electric Vehicle Market Outlook

7 Latin America Electric Vehicle Market Outlook
7.1 Market Size
7.2 Market Share
7.3 Latin America BEV & PHEV Market Outlook
7.4 Brazil Market Electric Vehicle Market Outlook
7.5 Chile Market Electric Vehicle Market Outlook
7.6 Colombia Market Electric Vehicle Market Outlook
7.7 Argentina Market Electric Vehicle Market Outlook

8 Middle East and Africa Electric Vehicle Market Outlook
8.1 Market Size
8.2 Market Share
8.3 Middle East and Africa BEV & PHEV Market Outlook
8.4 UAE Market Electric Vehicle Market Outlook
8.5 Saudi Arabia Market Electric Vehicle Market Outlook
8.6 Qatar Market Electric Vehicle Market Outlook
8.7 South Africa Market Electric Vehicle Market Outlook

9 Market Dynamics
9.1 Key Drivers
9.2 Key Challenges

10 Market Trends and Developments

11 Competitive Landscape

12 Company Profile
12.1 Aiways Automobiles Corporative Limited
12.2 Arrival Limited
12.3 Ashok Leyland
12.4 Beijing Automobiles Industry Holding Corporative limited
12.5 Bentley Motors Limited
12.6 Blue Bird Corporation
12.7 BMW Group
12.8 BYD Company Motors
12.9 Changsha Sunda New Energy Technology Limited
12.10 Citroen
12.11 Daimler AG
12.12 Ford Motors
12.13 General Motors
12.14 Hyundai
12.15 Irizar
12.16 Lightening GT
12.17 Micro Mobility
12.18 MW Motors
12.19 NFI
12.20 Nikola Motor Company
12.21 Nio
12.22 Nissan Motor
12.23 PoleStar
12.24 Proterra
12.25 Rimac Automobiles
12.26 Rivian
12.27 SAIC
12.28 Scania
12.29 Tata Motors
12.30 Tesla
12.31 Toyota Motor Corporation
12.32 VDL
12.33 Venturi
12.34 Volkswagen
12.35 Workhorse Group
12.36 Yutong
12.37 Zacua
12.38 Zhejiang Geely

13 Strategic Recommendations

14 Disclaimer

For more information about this report visit https://www.researchandmarkets.com/r/gib6fe

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


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