Global Long-range Electric Vehicle Market 2018-2022

To identify growth opportunities in the long range electric vehicle market, the market has been segmented into regions that are growing faster than the overall market. These regions have been pitted against regions that have a slower growth rate than the global market in 2017-2022. APAC and the Americas will grow faster than the overall market. The growth of EMEA will be slower than the global market.

APAC was the largest market in 2017 and its position will remain the same throughout the forecast period. Market growth in this region will be faster than the growth of the market in the other geographies. About 44% of the overall market growth will originate from this region.

Below are some of the key findings from the long-range electric vehicle market research report

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This report provides an analysis of the market based on products (EVs with 100-200 miles range and EVs with 200+ miles range) and geography (the Americas, APAC, and EMEA). Also, this market report analyzes the competitive landscape and offers information on several companies including BYD, General Motors, Hyundai Motor, Renault, and Tesla.

Global long-range electric vehicle industry overview

The decreasing price of Li-ion battery is one of the key factors that will contribute to the growth of the global long-range electric vehicle market size. Compared to non-electric and ICE vehicles, the cost of long-range EVs is high because of the usage of expensive batteries and electric powertrain components. The batteries make up a large part of the overall cost of the EV’s. As a result of factors such as the growing use of Li-ion batteries in HEVs, BEVs, PHEVs, UPS, and other non-automotive electronic appliances, the recent years witnessed a significant reduction in the cost of these batteries. Additionally, manufacturers are also focusing on technological advancements to further reduce the price of Li-ion batteries. This reduction in the price of Li-ion batteries will have a positive impact on the long-range electric vehicle market size.

Moreover, the development of next-generation batteries will also influence the long-range electric vehicle market growth during the forecast period. Enhancements in battery technology will have a positive impact on the sale of long-range electric vehicles as EVs are powered and driven by battery-powered systems. Manufacturers are focusing on improving EVs battery technology which will help increase the popularity of these vehicles among consumers. As a result of these factors, the long-range electric vehicle market size will grow at a CAGR of over 23% during the forecast period.

Top long-range electric vehicle companies covered in this market research report

The long-range electric vehicle market is highly concentrated. This report provides a detailed analysis of the market’s competitive landscape and provides information on the products offered by the companies. Additionally, this long-range electric vehicle industry analysis report also provides details on the factors that will drive and challenge the growth of this long range electric vehicle market size in the coming years. This will help companies create strategies to make the most of future growth opportunities.

The report offers a complete analysis of various companies including:

• BYD
• General Motors
• Hyundai Motor
• Renault
• Tesla

Long-range electric vehicle market segmentation based on geographic regions

• Americas
• APAC
• EMEA

APAC accounted for the largest long-range electric vehicle market share in 2017. The increasing purchasing power of people that is resulting in a rise in the sale of automobiles and the presence of established battery manufacturers in China will drive the region’s contribution to the growth of the long-range electric vehicle market size.

Long-range electric vehicle market segmentation based on products

• EVs with 100-200 miles range
• EVs with 200+ miles range

During 2018-20232, the sale of EVs with a range of 100-200 miles will be high. This attributes to the wide availability of these products and their less cost when compared to EVs with a range of more than 200 miles. The report provides an accurate prediction of the contribution of the various products segments to the growth of the long range electric vehicle market size.

Key highlights of the global long-range electric vehicle market report for the forecast years 2018-2022

• CAGR of the market during the forecast period 2018-2022
• Detailed information on factors that will accelerate the growth of the long range electric vehicle market during the next five years
• Precise estimation of the global long range 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 long-range electric vehicle industry across the Americas, APAC, and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details on the factors that will challenge the growth of long-range electric vehicle companies

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