Electric Vehicles Market Size & Analysis – Forecasts To 2025

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GLOBAL MARKET ESTIMATES RESEARCH
CONSULTANTS Ankita Roy, Treesha Banerjee and
Liza Dsouza from Global Market Estimates throw
the spotlight on the growing Electric Vehicles
Market Market Insights The electric vehicles
market is anticipated to grow at a high CAGR over
the forecast period on account of increasing
demand for low emission automotive. The
preferences for vehicles which reduce the burden
on fossil fuels and provide efficient performance
are expected to drive the demand for electric
vehicles over the coming years. Technological
advancements in the automotive sector are
expected to increase performance of electric
vehicles. Emission of harmful gases from IC
engine based vehicles has resulted in
deterioration of environmental conditions which
has prompted the need to develop
environment-friendly vehicles. The low cost
operation and maintenance cost of electric
vehicles as compared to diesel or petrol driven
vehicles is projected to boost demand over the
coming years.
Electric Vehicles Market Type Insights On the
basis of type, the electric vehicles market is
segmented into Battery Electric Vehicle (BEV),
Hybrid Electric Vehicles (HEV), Plug-in Hybrid
Electric Vehicles (PHEV). Plug-in hybrid electric
vehicles are projected to grow at a high CAGR
over the forecast period on account of high
growth recorded in public charging
infrastructure development. The implementation
of stringent regulations pertaining to vehicles
emission control in the North American,
European, and Asian countries is projected to
positively impact demand for battery electric
vehicles. However, the risk of drainage of
battery and lack of alternate fuel source may
hamper market growth over the coming years.
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GLOBAL MARKET ESTIMATES RESEARCH
CONSULTANTS Electric Vehicles Market Vehicle
Type Insights On the basis of vehicle type, the
electric vehicles market is segmented into
two-wheelers, passenger cars, and commercial
vehicles. The passenger cars segment occupied the
largest share and is anticipated to grow at a
high CAGR over the coming years. Companies
operating in this market are engaged in
improving efficiency and developing new models
for the market. The two wheeler segment is
projected to register high growth in China among
other Asian countries.
Electric Vehicles Market Regional Insights The
demand for electric vehicles in Asia Pacific is
projected to grow at the highest CAGR over the
coming years. China, India, South Korea, and
Japan are expected to offer attractive
opportunities for the growth of the electric
vehicles market. China is one of the largest
consumers of electric vehicles in the world on
account of favorable government regulations
implemented on purchase of EVs. The Chinese
government has announced the construction of
more than 12,000 charging stations by 2020. The
availability of appropriate charging
infrastructure is expected to positively impact
market growth over the coming years. The
European region is expected to occupy a
significant portion of the market on account of
increasing consumption observed in countries such
as Norway, the Netherlands, France, the UK, and
Germany among others. After China, the U.S. is
one of the largest consumers of electric
vehicles Canada is also expected to generate
growing opportunities in the North America EV
market.
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• GLOBAL MARKET ESTIMATES RESEARCH CONSULTANTS
• Electric Vehicles Market Competitive Landscape
• Some of the major players in the electric
  vehicles market include BMW Group, Toyota Motor
  Corporation, Tesla, Nissan Motor Corporation,
  General Motors, Audi AG, Volkswagen AG, Daimler
  AG, Ford Motor Company, BYD Company Motors, Kia
  Motors, Energica Motor Company S.P.A., Mahindra
  Mahindra Ltd., Renault Motors, Think Global,
  and Zero Motorcycles.
• In September 2017, BMW Group announced that it
  will introduce 25 electric vehicles by 2025, out
  of which 12 will be full electric cars. In
  December 2017, Toyota Motor Corp. announced its
  partnership with Panasonic Corp. for the
  production of batteries to be used in electric
  vehicles. In December 2017, Volvo Car Corp.
  announced that it will sell electric, hybrid and
  plug-in hybrid cars in India from 2019.
• The report segments the Electric Vehicles Market
  on the basis of By Type
• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicles (HEV)
• Plug-in Hybrid Electric Vehicles (PHEV)
• By Vehicle Type
• Two-Wheelers
• Passenger Cars
• Commercial Vehicles
• By Region

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GLOBAL MARKET ESTIMATES RESEARCH CONSULTANTS
This article contains text from the Electric
Vehicles Market Size Analysis Forecasts To
2025 report prepared by Global Market Estimates.
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