Electric Vehicles (E-Vehicle) Market is expected to expand at a CAGR of over 25% between 2021 and 2031

Electric Vehicles (E-Vehicle) Market 2022

Electric Vehicle market is projected to be worth USD 940.12 billion by 2031. Electric Vehicles market is projected to be worth 35K thousand units by the year 2031. It is, in fact, expected to witness a whopping CAGR of over 25% between 2021 and 2031.

Electric vehicles are becoming more and more popular as people become more environmentally conscious. Electric cars don’t produce any emissions, which is great for the environment. They also have a much longer range than gasoline cars, and they’re getting cheaper all the time.

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Persistence Market Research has recently published a report titled “Electric Vehicles Market: Global Industry Analysis and Forecast, 2016-2031” offering structured insights and in-depth research on the growing electric vehicles market on a worldwide scale. The report study covers the most prominent factors driving the growth of electric vehicles, provides potential opportunities for the manufacturers to harness its growth, changing trends and developments shaping the dynamics of the market and relevant insights covering important key segments.

There are a few different types of electric vehicles. The most common type is the battery-electric vehicle, or BEV. These cars run entirely on electricity, and they get their power from batteries that store energy captured from the grid or from solar panels. Some BEVs can also be plugged into wall outlets to charge them up faster.

Another type of electric car is the plug-in hybrid vehicle, or PHEV. These cars have both an electric motor and a gasoline engine. The electric motor powers the car for short distances, and the gasoline engine kicks in when you need to go further than that. PHEVs can also be plugged into wall outlets to charge them up faster.

Key Companies-

Persistence Market Research has listed the players as follows:

  • Nissan Motor Corporation
  • BMW AG
  • Honda Motor Co., Ltd.
  • Mitsubishi Motors Corporation
  • Toyota Motor Corporation
  • Volkswagen AG
  • Tesla Motors, Inc.
  • Renault group
  • Ford Motor Company
  • Daimler AG
  • General Motors Company
  • PSA Group

electric vehicles market

Prominent strategy adopted by major electric vehicles manufacturers is by leveraging on the disadvantages caused by conventional vehicles thereby using it as a medium to aggressively advertise the electric vehicles as the vehicles of the future to the customers.

The market is categorically divided into six segments based on Technology, Power Source, Vehicle Type, Powertrain and Region. The market value of electric vehicles is presented in terms of US$ Mn across all the segments. However, from the perspective of powertrain segment, it does not represent the overall market numbers i.e., market volume and market value, owing to the fact that the battery powered electric vehicles do not require the capabilities of a powertrain, which is usually limited to vehicles that have both the internal combustion engine and electric motor to run the wheels.

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This holds true for all the regions as well. The report also presents important drivers as well as roadblocks affecting the market growth over the forecast period. Ever changing trends and buying patterns of the customers are also taken into account and scrutinized, which is thus integrated in the study to provide the client with relevant comprehensive information about the dynamics of the market leading to better decision making of the client.

Other important parameters such as macrocosmic factors, comparative study between the conventional vehicles & electric vehicles, regulations affecting its usage in prominent regions and forecasting factors are also added in the report to provide more value-added intelligence to the client.

Research Methodology

Both the production and sales statistics of electric vehicles on a yearly basis are taken into consideration for the purpose of research on the market, however, for the calculation of market volume per year, only sales statistics of electric vehicles are taken into account.

The market volume based on the sales of electric vehicles are inferred through the secondary sources and confirmed through primary respondents to achieve a near accurate count. Average selling prices of electric vehicles in different regions is incorporated only in the vehicle type segment, which is used to calculate the total market value.

The electric vehicles market is forecasted for a period of 15 years taking 2015 as the base year for the market numbers calculation and forecasted till 2030. The current size of the market, as well as the information obtained from the supply and demand side and sales pattern of electric vehicles provided by the dealers shaping the market.

The forecasts incorporated in the report is presented in terms of Compound Annual Growth Rate or CAGR, while other decisive parameters namely year-on-year growth and absolute dollar opportunity are also included in the report to present the client with clearer insights and extensive knowledge on the aforementioned market.

Last but not the least, essential parameters such as market attractive index and impact analysis of the drivers and restraints for all the regions are presented in the report providing insights about the dynamics, growth, performance and untapped opportunities in the electric vehicles market.

Exhaustive profiling of prominent electric vehicles manufacturers is included in the concluding section of the report detailing the strengths, weaknesses and competitive strategies of each manufacturers.

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Key Stakeholders
Electric Vehicles (E-Vehicle) Market Manufacturers
Electric Vehicles (E-Vehicle) Market Distributors/Traders/Wholesalers
Electric Vehicles (E-Vehicle) Market Subcomponent Manufacturers
Industry Association
Downstream Vendors

Key Questions Answered in Electric Vehicles (E-Vehicle) Market Report –

Who are the Major Manufacturers and Suppliers of Electric Vehicles (E-Vehicle)?

What will the Electric Vehicles (E-Vehicle) Market growth rate in Future?

What are the key factors driving the global Electric Vehicles (E-Vehicle) Market?

Who are the key manufacturers in Electric Vehicles (E-Vehicle) Market space?

What are the opportunities and threats faced by the vendors in the global Electric Vehicles (E-Vehicle) industry?

What are sales, revenue, and price analysis by regions of Electric Vehicles (E-Vehicle) industry?

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