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Electric Car Market by Type, Vehicle Type, and Geography - Forecast and Analysis 2023-2027

  • Published: Nov 2022
  • Pages: 170
  • SKU: IRTNTR71683
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The electric car market is estimated to grow at a CAGR of 28.69% between 2022 and 2027. The size of the market is forecast to increase by 22,644.59 thousand units. The growth of the market depends on serval factors, including the increasing demand and sales of BEVs in the global market, the reduced prices of lithium-ion batteries, and the growing government regulations, incentives, and subsidies on EVs. 

This report extensively covers market segmentation by type (sedan, hatchback, and others), vehicle type (BEV and PHEV),  and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the Size of the Electric Car Market During the Forecast Period?

Electric Car Market Size

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Parent Market Analysis

Technavio categorizes the global electric cars market as a part of the global automotive market under the global automobiles and components industry. The parent market, the global automotive market, covers companies engaged in the production of vehicles such as passenger cars, commercial vehicles, and all-terrain vehicles. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Electric Car Market: Key Drivers, Trends, Challenges, and Customer Landscape

Reducing prices of lithium-ion batteries is notably driving the market growth, although factors such as the lack of BEV charging infrastructure in developing automotive markets may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Electric Car Market Driver

Reducing prices of lithium-ion batteries is notably driving the electric car market growth. Batteries form an integral part of EVs, especially all-electric car, as it does not have conventional ICE-like hybrids or plug-in hybrids. To operate an all-electric car with a decent range and power, the electric car battery should have a high capacity. In most electric cars, lithium-ion batteries are used owing to their advantages and performance benefits. Technological advances and wide-scale production have reduced the prices of these batteries. This is driving the growth of the global electric cars market. 

The prices of batteries have gradually declined over the past decade or so. One of the major reasons behind the declining battery prices, especially lithium-ion, has been the growing battery manufacturing industry. This leads to economies of scale, which is lowering the costs. In addition, there have been several improvements in the technology of BEVs. This makes them more desirable to consumers. In addition, the governments are giving subsidies and incentives to manufacturers of lithium-ion batteries. This is further reducing the overall cost of lithium-ion battery packs. The shift of manufacturing bases from Japan to China is another reason for the decline in the cost of lithium-ion batteries. This shift encouraged Chinese manufacturers to develop lithium-ion batteries for EVs at a competitive price compared with lead-acid batteries. The presence of these factors is propelling the market growth during the forecast period. 

Key Electric Car Market Trend

The emergence of wireless charging systems for EVs is a major trend in the electric car market. Electrical vehicle charging infrastructure holds the utmost importance for the sustainability of all-electric cars. Therefore, significant investments are being made in the development and improvement of EV charging infrastructure. With the growing emphasis on sustainable transportation, higher levels of autonomy within EVs are gaining popularity on a large scale. The increased acceptance of these vehicles will augment the demand for wireless charging systems as they mostly require charging on the go to maintain range.

The prominent EV makers and charging system providers are working on business models that can help achieve efficient wireless-go charging for future EVs. In such models, EVs can perfectly position themselves over the charging pads, achieving maximum efficiency. In addition, the connected technology in all-electric cars allows communication among the vehicles to swap charging pads as needed and share a common pad based on the time slot. The trend of charging EVs using wireless charging systems is expected to be applied commercially by the end of the forecast period.

Key Electric Car Market Challenge

The lack of BEV charging infrastructure in developing automotive markets is a major challenge impeding the electric car market growth. The global electric cars market is growing year on year, with high demand from developed automotive markets. In developed automotive markets such as North America and Europe, all EVs contribute significantly to regional automobile sales. However, it is the developing automotive markets that are still trailing by a considerable margin in terms of electric car consumption. The significant reason for the slow uptake of all-electric cars is the lack of EV charging infrastructure.

The high adoption of all-electric cars or BEVs in developed automotive markets is due to the existence of well-planned and developed charging infrastructure. This includes EV charging stations, whether in public places, private companies, or government offices. In addition, the growing availability of charging ports in house premises has further led to the commercial viability of BEVs in those countries. This speaks volumes about the lack of publicly available EV charging infrastructure in emerging economies. This is hindering the growth of the global electric cars market during the forecast period. 

Key Electric Car Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Electric Car Market Share by Geography

Global Electric Car Market Customer Landscape

Who are the Major Electric Car Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Ford Motor Co.- The company operates under multiple segments including the automotive segment, and mobility segment among others, with a high focus on the automotive segment. The company under this segment?offers Ford and Lincoln vehicles, service parts, and accessories worldwide. The company's key offerings include?electric cars.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • BAIC Motor Corp. Ltd.
  • BMW AG
  • BYD Electronic Co. Ltd.
  • Chery Automobile Co. Ltd.
  • Daimler AG
  • Geely Auto Group
  • General Motors Co
  • Kia Motors Corp
  • NIO Ltd.
  • Nissan Motor Co. Ltd.
  • Renault SAS
  • SAIC Motor Corp. Ltd.
  • Tata Motors Ltd.
  • Tesla Inc.
  • Mahindra and Mahindra Ltd.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Electric Car Market?

The market share growth by the sedan segment will be significant during the forecast period. A sedan has a three-box design configuration. Sedans have numerous advantages over smaller, compact cars. The former has improved space, separate compartments for luggage, and other advantages.

Electric Car Market Size

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The sedan segment shows a gradual increase in the market share of USD 528.16 thousand units in 2017 and continued to grow until 2021. In the global electric cars market, many all-electric cars are available in the sedan body type. Most of the all-electric sedans are available in developed automotive markets in North America, Europe, the Middle East, and APAC. One of the popular all-electric sedans includes Tesla's Model S. It is one of the bestselling all-electric sedans in the world. The Model S comes fitted with a 75-kilowatt hour (kWh) or 100 kWh lithium-ion battery (microprocessor controlled) and a three-phase four-pole AC induction motor. The car also features a drive inverter with variable frequency drive along with a regenerative braking system. 

Which are the Key Regions for the Electric Car Market?

Electric Car Market Share by Geography

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APAC is projected to hold a market share of 40% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

APAC is the fastest-growing region for the electric cars market, owing to significant growth in sales of commercial vehicles in APAC. China has shown significant sales growth of such vehicles. Multiple factors are contributing to the sales of EVs in China. Various government initiatives to go green, increasing stringent carbon emission norms, and incentive schemes formulated for the adoption of EVs in polluted Chinese cities are contributing to the market growth. The rising number of EV charging stations and growing participation by foreign as well as local OEMs to make EV technology more efficient and effective are also propelling the market growth in the country. 

The Chinese players primarily dominate the electric cars market in the region. Japan too is home to a few of the prominent electric car makers, such as Nissan. Japan is also one of the significant contributors to the sales of HEVs and EVs globally. Moreover, Tesla has its own charging unit network in Japan. The implementation of stringent policies by the government that support infrastructural development will drive market growth. This is because the country is characterized by the rapid adoption of vehicles with advanced technologies.

In 2020, the outbreak of COVID-19 in countries severely affected the economies and caused numerous fatalities in the region. However, in 2021, with the lifting of lockdown restrictions, the reopening of manufacturing units for electric cars, and the resumption of business activities. The electric car market in APAC is growing rapidly, and the number of electric car sales increased in 2021 compared to sales in 2020. In 2022, the highest EV sales have been witnessed in the global EV market. Therefore, the regional electric car market is expected to grow during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Type (Sedan, Hatchback, and Others), Vehicle Type (BEV and PHEV), and Geography (APAC, North America, Europe, South America, and Middle East and Africa).

  • Type Outlook (USD Million, 2017 - 2027)
    • Sedan
    • Hatchback
    • Others
  • Vehicle Type Outlook (USD Million, 2017 - 2027)
    • BEV 
    • PHEV
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America
      • Chile
      • Brazil
      • Argentina

Electric Car Market Scope

Report Coverage

Details

Page number

170

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 28.69%

Market growth 2023-2027

22,644.59 thousand units

Market structure

Fragmented

YoY growth (%)

28.5

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 40%

Key countries

US, Canada, China, Japan, India, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

BAIC Motor Corp. Ltd., BMW AG, BYD Electronic Co. Ltd., Chery Automobile Co. Ltd., Daimler AG, Ford Motor Co., Geely Auto Group, General Motors Co, Kia Motors Corp, Mahindra and Mahindra Ltd., NIO Ltd., Nissan Motor Co. Ltd., Renault SAS, SAIC Motor Corp. Ltd., Stellantis NV, Tata Motors Ltd., Tesla Inc., Toyota Motor Corp., and Volkswagen AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Electric Car Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the electric car market  between 2023 and 2027
  • Precise estimation of the electric car market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the industry across APAC, North America, Europe, South America, and Middle East and Africa
  • Thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of electric car market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Vehicle Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 16: Chart on Global Market- Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market- Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global electric car market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global electric car market 2017 - 2021 (thousand units)
    • 4.2 Type Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 (thousand units)
    • 4.3 Vehicle Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Vehicle Segment 2017 - 2021 (thousand units)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (thousand units)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (thousand units)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Type

    • 6.1 Market segments
      • Exhibit 30: Chart on Type - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Type - Market share 2022-2027 (%)
    • 6.2 Comparison by Type
      • Exhibit 32: Chart on Comparison by Type
      • Exhibit 33: Data Table on Comparison by Type
    • 6.3 Sedan - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Sedan - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 35: Data Table on Sedan - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 36: Chart on Sedan - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Sedan - Year-over-year growth 2022-2027 (%)
    • 6.4 Hatchback - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Hatchback - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 39: Data Table on Hatchback - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 40: Chart on Hatchback - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Hatchback - Year-over-year growth 2022-2027 (%)
    • 6.5 Others - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Others - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 43: Data Table on Others - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 44: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 6.6 Market opportunity by Type
      • Exhibit 46: Market opportunity by Type (thousand units)

    7 Market Segmentation by Vehicle Type

    • 7.1 Market segments
      • Exhibit 47: Chart on Vehicle Type - Market share 2022-2027 (%)
      • Exhibit 48: Data Table on Vehicle Type - Market share 2022-2027 (%)
    • 7.2 Comparison by Vehicle Type
      • Exhibit 49: Chart on Comparison by Vehicle Type
      • Exhibit 50: Data Table on Comparison by Vehicle Type
    • 7.3 BEV - Market size and forecast 2022-2027
      • Exhibit 51: Chart on BEV - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 52: Data Table on BEV - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 53: Chart on BEV - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on BEV - Year-over-year growth 2022-2027 (%)
    • 7.4 PHEV - Market size and forecast 2022-2027
      • Exhibit 55: Chart on PHEV - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 56: Data Table on PHEV - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 57: Chart on PHEV - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on PHEV - Year-over-year growth 2022-2027 (%)
    • 7.5 Market opportunity by Vehicle Type
      • Exhibit 59: Market opportunity by Vehicle Type (thousand units)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 61: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 62: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 63: Chart on Geographic comparison
      • Exhibit 64: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 65: Chart on APAC - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 66: Data Table on APAC - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 67: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 68: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 North America - Market size and forecast 2022-2027
      • Exhibit 69: Chart on North America - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.5 Europe - Market size and forecast 2022-2027
      • Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 77: Chart on South America - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 China - Market size and forecast 2022-2027
      • Exhibit 85: Chart on China - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 86: Data Table on China - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.9 US - Market size and forecast 2022-2027
      • Exhibit 89: Chart on US - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 90: Data Table on US - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.10 Japan - Market size and forecast 2022-2027
      • Exhibit 93: Chart on Japan - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 94: Data Table on Japan - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 95: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.11 Canada - Market size and forecast 2022-2027
      • Exhibit 97: Chart on Canada - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 98: Data Table on Canada - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 99: Chart on Canada - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on Canada - Year-over-year growth 2022-2027 (%)
    • 9.12 Germany - Market size and forecast 2022-2027
      • Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.13 India - Market size and forecast 2022-2027
      • Exhibit 105: Chart on India - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 106: Data Table on India - Market size and forecast 2022-2027 (thousand units)
      • Exhibit 107: Chart on India - Year-over-year growth 2022-2027 (%)
      • Exhibit 108: Data Table on India - Year-over-year growth 2022-2027 (%)
    • 9.14 Market opportunity by geography
      • Exhibit 109: Market opportunity by geography (thousand units)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 110: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 111: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 112: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 113: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 114: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 115: Matrix on vendor position and classification
            • 12.3 BAIC Motor Corp. Ltd.
              • Exhibit 116: BAIC Motor Corp. Ltd. - Overview
              • Exhibit 117: BAIC Motor Corp. Ltd. - Business segments
              • Exhibit 118: BAIC Motor Corp. Ltd. - Key offerings
              • Exhibit 119: BAIC Motor Corp. Ltd. - Segment focus
            • 12.4 BMW AG
              • Exhibit 120: BMW AG - Overview
              • Exhibit 121: BMW AG - Business segments
              • Exhibit 122: BMW AG - Key offerings
              • Exhibit 123: BMW AG - Segment focus
            • 12.5 BYD Electronic Co. Ltd.
              • Exhibit 124: BYD Electronic Co. Ltd. - Overview
              • Exhibit 125: BYD Electronic Co. Ltd. - Business segments
              • Exhibit 126: BYD Electronic Co. Ltd. - Key news
              • Exhibit 127: BYD Electronic Co. Ltd. - Key offerings
              • Exhibit 128: BYD Electronic Co. Ltd. - Segment focus
            • 12.6 Chery Automobile Co. Ltd.
              • Exhibit 129: Chery Automobile Co. Ltd. - Overview
              • Exhibit 130: Chery Automobile Co. Ltd. - Product / Service
              • Exhibit 131: Chery Automobile Co. Ltd. - Key offerings
            • 12.7 Daimler AG
              • Exhibit 132: Daimler AG - Overview
              • Exhibit 133: Daimler AG - Business segments
              • Exhibit 134: Daimler AG - Key news
              • Exhibit 135: Daimler AG - Key offerings
              • Exhibit 136: Daimler AG - Segment focus
            • 12.8 Ford Motor Co.
              • Exhibit 137: Ford Motor Co. - Overview
              • Exhibit 138: Ford Motor Co. - Business segments
              • Exhibit 139: Ford Motor Co. - Key news
              • Exhibit 140: Ford Motor Co. - Key offerings
              • Exhibit 141: Ford Motor Co. - Segment focus
            • 12.9 Geely Auto Group
              • Exhibit 142: Geely Auto Group - Overview
              • Exhibit 143: Geely Auto Group - Product / Service
              • Exhibit 144: Geely Auto Group - Key offerings
            • 12.10 General Motors Co
              • Exhibit 145: General Motors Co - Overview
              • Exhibit 146: General Motors Co - Business segments
              • Exhibit 147: General Motors Co - Key news
              • Exhibit 148: General Motors Co - Key offerings
              • Exhibit 149: General Motors Co - Segment focus
            • 12.11 Kia Motors Corp
              • Exhibit 150: Kia Motors Corp - Overview
              • Exhibit 151: Kia Motors Corp - Business segments
              • Exhibit 152: Kia Motors Corp - Key offerings
              • Exhibit 153: Kia Motors Corp - Segment focus
            • 12.12 NIO Ltd.
              • Exhibit 154: NIO Ltd. - Overview
              • Exhibit 155: NIO Ltd. - Product / Service
              • Exhibit 156: NIO Ltd. - Key offerings
            • 12.13 Nissan Motor Co. Ltd.
              • Exhibit 157: Nissan Motor Co. Ltd. - Overview
              • Exhibit 158: Nissan Motor Co. Ltd. - Business segments
              • Exhibit 159: Nissan Motor Co. Ltd. - Key news
              • Exhibit 160: Nissan Motor Co. Ltd. - Key offerings
              • Exhibit 161: Nissan Motor Co. Ltd. - Segment focus
            • 12.14 Renault SAS
              • Exhibit 162: Renault SAS - Overview
              • Exhibit 163: Renault SAS - Product / Service
              • Exhibit 164: Renault SAS - Key news
              • Exhibit 165: Renault SAS - Key offerings
            • 12.15 Stellantis NV
              • Exhibit 166: Stellantis NV - Overview
              • Exhibit 167: Stellantis NV - Business segments
              • Exhibit 168: Stellantis NV - Key news
              • Exhibit 169: Stellantis NV - Key offerings
              • Exhibit 170: Stellantis NV - Segment focus
            • 12.16 Tata Motors Ltd.
              • Exhibit 171: Tata Motors Ltd. - Overview
              • Exhibit 172: Tata Motors Ltd. - Business segments
              • Exhibit 173: Tata Motors Ltd. - Key news
              • Exhibit 174: Tata Motors Ltd. - Key offerings
              • Exhibit 175: Tata Motors Ltd. - Segment focus
            • 12.17 Tesla Inc.
              • Exhibit 176: Tesla Inc. - Overview
              • Exhibit 177: Tesla Inc. - Business segments
              • Exhibit 178: Tesla Inc. - Key news
              • Exhibit 179: Tesla Inc. - Key offerings
              • Exhibit 180: Tesla Inc. - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 181: Inclusions checklist
                • Exhibit 182: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 183: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 184: Research methodology
                • Exhibit 185: Validation techniques employed for market sizing
                • Exhibit 186: Information sources
              • 13.5 List of abbreviations
                • Exhibit 187: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
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              Electric Car market growth will increase by $7365.42 thousand units during 2020-2025.
              The electric car market is expected to grow at a CAGR of 27.49% during 2020-2025.
              Technavio has segmented the electric car market by type (Sedan, Hatchback, and Others) and geographic (APAC, North America, Europe, South America, and MEA).
              BAIC Motor Corp. Ltd., BMW AG, BYD Co. Ltd., Chongqing Changan Automobile Co. Ltd., Chery, Geely Auto Group, General Motors Co., KIA Motor Corp, Nissan Motor Co. Ltd., Tesla Inc. are a few of the key vendors in the electric car market.
              APAC will register the highest growth rate of 39.41% among the other regions. Therefore, the electric car market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              • China
              • US
              • Norway
              • Japan
              • Germany
              The key factors driving the electric car market growth are:
              • Increasing demand and sales of BEVs in global market
              The electric car market vendors should focus on grabbing business opportunities from the sedan segment as it accounted for the largest market share in the base year.
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