The global electric vehicle market is estimated to reach USD 477.3 billion in 2024 at a CAGR of 22.8%. Taxation benefit on electric car loans and supportive government subsidies are expected to drive the electric vehicle market during the forecast period. However, increasing focus on sustainability is expected to become an opportunity for electric vehicle market.

The electric vehicle is an alternative source for fuel in automotive industry. This source can help various electric motors and motor controllers to drive the vehicle. Electric vehicle reserve electricity in an energy storage device such a battery. Moreover, it usually presented as non-polluting or zero radiation vehicle. Some key players in electric vehicle are Tesla Motor, BYD Company Ltd., Ford Motor Company, Toyota Motor Corporation, AB Volvo, Daimler AG, and Honda Motor Co Ltd. among others. 

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 Electric Vehicle Market: Trends, Segmentation & Drivers

This market research report offers a comprehensive analysis of key market trends in the global electric vehicle market. It includes detailed discussion on historical market trends, current market dynamics, consumer landscape, growth opportunities and challenges backed by factful feedbacks. On the basis of type, the market is segmented into battery electric vehicles (BEV), fuel cell electric vehicles(FCEV), plugin electric vehicles(PEV) and hybrid electric vehicles (HEV). By Battery type, the electric vehicle market is segmented into lead acid battery, nickel metal hydride battery, lithium ion battery and others. On the basis of charging type, the market is segmented into rapid (43Kw-50Kw) by (30-60minute), fast (7Kw-22Kw) by (3-4hour) & slow (up to 3Kw) by (6-12hour). By end use industry the market is segmented into heavy commercial vehicle (HCV) & low commercial vehicle (LCV).

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Electric Vehicle Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

Electric Vehicle Market, by Type

  • Battery Electric Vehicles (BHV)
  • Fuel Cell Electric Vehicles (FCEV)
  • Plug-in Hybrid Electric Vehicles (PHEV)
  • Hybrid Electric Vehicles (HEV)

Electric Vehicle Market, by Battery Type

  • Lead Acid Batteries (LAB)
  • Nickel Metal Hydride Batteries
  • Lithium Ion Batteries (LIB)
  • Others

Electric Vehicle Market, by Charging Type

  • Rapid (43Kw-50Kw) by (30-60minute)
  • Fast (7Kw-22Kw) by (3-4hour)
  • Slow (up to 3Kw) by (6-12hour)

Electric Vehicle Market by, End-Use Industry

  • Heavy Commercial Vehicles
  • Light Commercial Vehicles

Electric Vehicle Market by Region

  • Asia-Pacific
    • China
    • Japan
    • South Korea
    • India
    • Taiwan
    • Rest of Asia-Pacific
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Norway
    • France
    • Italy
    • UK
    • Spain
    • The Netherlands
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America

Table of Content:

 INTRODUCTION

1.1       Research Objectives

1.2       Market Definition

1.3       Research Scope

1.4       Regional Coverage

1.5       Research Timeline

1.6       Assumptions

1.7       Limitations

2      RESEARCH DESIGN & SCOPE

2.1       Introduction

2.2       Primary Research

                                  2.2.1    Key Industry Expert Insight

2.3       Secondary Research

                                  2.3.1    Vital Data from Secondary Sources

2.4       Market Size Estimation

2.5       Data Validation & Triangulation

3      EXECUTIVE SUMMARY

4      MARKET DYNAMICS

4.1       Introduction

4.2       Drivers

                                 4.2.1.    Taxation benefit on electric car loans

                                 4.2.2.    Supportive government subsidies

4.3       Restraints

                                 4.3.1.    High cost of fast charging systems

                                 4.3.2.    High price of electric vehicles as compared to conventional vehicles

4.4       Opportunities

                                 4.4.1.    Increasing focus on sustainability

4.5       Challenges

                                 4.5.1.    Charging Time

                                 4.5.2.    Security involved with battery machinery

5      INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS

5.1       Introduction

                                 5.1.1.    Power of Buyers

                                 5.1.2.    Power of Suppliers

                                 5.1.3.    Intensity of Competition

                                 5.1.4.    Challenges of Substitutes

                                 5.1.5.    Challenges of New Entrants

5.2       Macro-Economic Indicators

6      ELECTRIC VEHICLE MARKET BY TYPE, Market Size in USD Million (2017—2024)

6.1       Introduction

6.2       Battery Electric Vehicles (BEV)

6.3       Fuel Cell Electric Vehicles (FCEV)

6.4       Plugin Electric Vehicles (PEV)

6.5       Hybrid Electric Vehicles (HEV)

7      ELECTRIC VEHICLE MARKET BY BATTERY TYPE, Market Size in USD Million (2017—2024)

7.1       Introduction

7.2       Lead Acid Batteries

7.3       Nickel Metal Hydride Batteries

7.4       Lithium Ion Batteries

7.5       Others

8      ELECTRIC VEHICLE MARKET BY CHARGING TYPE, Market Size in USD Million (2017—2024)

8.1       Introduction

8.2       Rapid (43-50Kw) by (30-60 minutes)

8.3       Fast (7Kw-22Kw) by (3-4 hours)

8.4       Slow (Up to 3Kw) by (6-12 hours)

9      ELECTRIC VEHICLE MARKET BY END-USE INDUSTRY, Market Size in USD Million (2017—2024)

9.1       Introduction

9.2       Light Commercial Vehicle

9.3       Heavy Commercial Vehicle

10   ELECTRIC VEHICLE MARKET BY REGION, Market Size in USD Million (2017—2024)

10.1     North America

                                 8.1.1.    US

                                 8.1.2.    Canada

                                 8.1.3.    Mexico

10.2     Europe

                                 8.2.1.    Germany

                                 8.2.2.    Norway

                                 8.2.3.    France

                                 8.2.4.    Italy

                                 8.2.5.    UK

                                 8.2.6.    Spain

                                 8.2.7.    The Netherlands

                                 8.2.8.    Rest of Europe

10.3     Asia-Pacific

                                 8.3.1.    China

                                 8.3.2.    Japan

                                 8.3.3.    India

                                 8.3.4.    South Korea

                                 8.3.5.    Taiwan

                                 8.3.6.    Rest of Asia-Pacific

10.4     Middle East

                                 8.4.1.    Saudi Arabia

                                 8.4.2.    UAE

                                 8.4.3.    Rest of Middle East

10.5     South America

                                 8.5.1.    Brazil

                                 8.5.2.    Argentina

                                 8.5.3.    Rest of South America

11   COMPETITIVE LANDSCAPE

11.1     Introduction

11.2     Market Ranking/Share Analysis of Key Companies

11.3     Company Benchmarking

12   COMPANY PROFILES

12.1     Tesla Motor

                                12.1.1    Company Overview

                                12.1.2    Financial Overview

                                12.1.3    Products/Solutions/Services Offered

                                12.1.4    Key Developments

                                12.1.5    SWOT Analysis

12.2     BYD Company Ltd.

12.3     Ford Motor Company

12.4     Toyota Motor Corp

12.5     AB Volvo

12.6     Daimler AG

12.7     Honda Motor Co Ltd

12.8     HYUNDAI MOTOR GROUP

12.9     Other Key Companies

13   APPENDIX

13.1     Key Industry Expert Insights

13.2     Primary Discussion Guide

13.3   Customization Options

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