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Electric Vehicle Market by Type and Geography - Forecast and Analysis 2021-2025

  • Published: Jul 2021
  • Pages: 120
  • SKU: IRTNTR70839
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The electric vehicle market share will grow by 8179.06 thousand units between 2021 and 2025, although the market’s growth momentum will decelerate at a CAGR of 27.49%.

This electric vehicle market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by type (BEV and PHEV) and geography (APAC, Europe, North America, South America, and MEA). The electric vehicle market report also offers information on several market vendors, including BAIC Motor Corp. Ltd., BMW Group, Daimler AG, Ford Motor Co., General Motors Co., Nissan Motor Co. Ltd., Renault SA, Tesla Inc., Toyota Motor Corp., and Volkswagen AG among others.

What will the Electric Vehicle Market Size be in 2021?

Electric-Vehicle-Market-Market-Size-2020-2025

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Electric Vehicle Market: Key Drivers and Trends

The growing demand for fuel-efficient and low-emission vehicles is notably driving the electric vehicle market growth, although factors such as insufficient charging infrastructure may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the electric vehicle market industry get your FREE report sample now.

  • Growing demand for fuel-efficient and low-emission vehicles is a key driver boosting the electric vehicle market growth.
  • The harmful effects of emissions by fossil fuel-operated vehicles have alarmed people around the world, and hence, there has been a growth in demand for low-emission vehicles.
  • With the rapid fluctuation in oil and gas prices, consumers are focusing on more fuel-efficient vehicles. Hence, the adoption of EVs is on the rise as it increases energy security, improves fuel economy, and reduces fuel costs emissions. 
  • The increase in fuel prices has resulted in shifting consumers from conventional vehicles to EVs. For instance, the crude oil price has increased by around 22% during January-September 2018.
  • The growing geopolitical tensions in the Gulf region also act as a major concern as the region is one of the biggest exporters of crude oil. Hence, the growing fuel prices and increasing demand led consumers and automotive manufacturers to find an alternative to vehicles that run on gasoline and diesel. 
  • Stringent rules and regulations will be another important driver augmenting the electric vehicle market growth.
  • Emission regulations are getting stringent, both at the city level and the national level. Several rules and regulations have been enacted by various countries to monitor emissions from vehicles.
  • On a regional basis, the regulations differ depending on the goals set by the government as well as the regulations already in place. The previous versions of European or United Nations Economic Commission for Europe mobile source emission regulations have been adopted by many countries.
  • On the other hand, some countries have adopted more advanced regulations based on the recent revisions in regulations in the US and Europe.
  • Norway, being the leader in adopting EVs, is aiming at making BEVs account for 100% of its new car sales by 2025. Other countries such as California, France, and the UK have also claimed to end sales of combustion engine-based vehicles by 2040. 

This electric vehicle market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Electric Vehicle Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • BAIC Motor Corp. Ltd.
  • BMW Group
  • Daimler AG
  • Ford Motor Co.
  • General Motors Co.
  • Nissan Motor Co. Ltd.
  • Renault SA
  • Tesla Inc.
  • Toyota Motor Corp.
  • Volkswagen AG

 

The electric vehicle market is fragmented and the vendors are deploying growth strategies such as focusing on market expansion and product launches to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the electric vehicle market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Electric Vehicle Market?

Electric-Vehicle-Market-Market-Share-by-Region-2020-2025

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45% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for electric vehicle market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The growing concerns regarding emissions affecting air quality and better safety standards set by regional governments will facilitate the electric vehicle market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Type Segments in the Electric Vehicle Market?

Electric-Vehicle-Market-Market-Share-by-Type-2020-2025

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The electric vehicle market share growth by the BEV segment will be significant during the forecast period. Key benefits such as ease of manufacturing, simplicity, lower maintenance cost and zero emissions will drive the BEV market segment growth during 2021-2025.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the electric vehicle market size.

 

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What are the Key Factors Covered in this Electric Vehicle Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive electric vehicle market growth during the next five years
  • Precise estimation of the electric vehicle market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the electric vehicle market industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of electric vehicle market vendors

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Electric Vehicle Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 27.49%

Market growth 2021-2025

8179.06 th units

Market structure

Fragmented

YoY growth (%)

29.97

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 45%

Key consumer countries

China, US, Norway, Japan, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

BAIC Motor Corp. Ltd., BMW Group, Daimler AG, Ford Motor Co., General Motors Co., Nissan Motor Co. Ltd., Renault SA, 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 future consumer dynamics, market condition analysis for 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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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Type

  • Market segments
  • Comparison by Type
  • BEV - Market size and forecast 2020-2025
  • PHEV - Market size and forecast 2020-2025
  • Market opportunity by Type

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • North America - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • BAIC Motor Corp. Ltd.
  • BMW Group
  • Daimler AG
  • Ford Motor Co.
  • General Motors Co.
  • Nissan Motor Co. Ltd.
  • Renault SA
  • Tesla Inc.
  • Toyota Motor Corp.
  • Volkswagen AG

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • 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
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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
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TechnavioREPORT WRITING

Qualitative

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

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The electric vehicle market market growth will increase by $8179.06 th units during 2022-2025.
The electric vehicle market market is expected to grow at a CAGR of 27.49% during 2022-2025.
Technavio has segmented the electric vehicle market market by type (BEV and PHEV) ,geography (APAC, Europe, North America, South America, and MEA) , and geographic (APAC, Europe, North America, South America, and MEA).
BAIC Motor Corp. Ltd., BMW Group, Daimler AG, Ford Motor Co., General Motors Co., Nissan Motor Co. Ltd., Renault SA, Tesla Inc., Toyota Motor Corp., Volkswagen AG are a few of the key vendors in the electric vehicle market market.
APAC will register the highest growth rate of 45% among the other regions. Therefore, the electric vehicle market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the electric vehicle market market growth are:
  • Growing demand for fuel-efficient and low-emission vehicles
  • Technological advances in EVs
The electric vehicle market market vendors should focus on grabbing business opportunities from the bev segment as it accounted for the largest market share in the base year.
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