Electric Vehicle Market

Electric Vehicle Market by Vehicle (Passenger Cars & Commercial Vehicles), Vehicle Class (Mid-priced & Luxury), Propulsion (BEV, PHEV & FCEV), EV Sales (OEMs/Models) Charging Station (Normal & Super) & Region - Global Forecast to 2030

Report Code: AT 4907 Jun, 2019, by marketsandmarkets.com
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The Electric Vehicles Market is projected to reach 26,951,318 units by 2030 from an estimated 3,269,671 units in 2019, at a CAGR of 21.1% during the forecast period. The base year for the report is 2018, and the forecast period is from 2019 to 2030. The electric vehicle market has witnessed rapid evolution with the ongoing developments in automotive sector. Favorable government policies and support in terms of subsidies and grants, tax rebates and other non-financial benefits in the form of car pool lane access, and new car registration (specifically in China where ICE engine new car registration are banned in some urban areas) the increasing vehicle range, better availability of charging infrastructure and proactive participation by automotive OEMs would drive the global electric vehicle sales.

Electric Vehicle Market

In addition, the growing sensitivity of various governments toward a cleaner environment has increased the demand for zero-emission vehicles. Developed nations such as the US, Germany, and the UK are actively promoting the use of electric vehicles to reduce emissions, which has resulted in the growth of electric vehicle sales.

The electric vehicle market is dominated by globally established players such as Tesla (US), BYD (China), BMW (Germany), Volkswagen (Germany), and Nissan (Japan). These companies developed new products, adopted expansion strategies, and undertook collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth electric vehicle market.

Mid-Priced vehicle segment are expected to grow at highest CAGR rate

The future of EVs is expected to be bright and with time the price of batteries, one of the most vital components in an EV, is reducing significantly which would make EVs more affordable. Mid-Priced vehicle class has limited features with less emphasis on features like infotainment, instrument cluster, and other expensive features. China is one of the leading countries for the mid-priced segment. Companies such as BYD, Smart, and Great Wall Motors are manufacturing comparatively less expensive vehicles. In July 2018, Great Wall Motors announced a partnership with BMW Group to produce electric MINI vehicles in China. In December 2018, the company launched its new flagship vehicle under its new ‘ORA’ electric car brand: the ORA R1. The small urban car will cost only USD 8,680 after incentives with a range of almost 200 miles.

Increasing adoption of electric buses likely to propel the growth of commercial vehicles during the forecast period

The commercial vehicle segment is expected to be the fastest growing market. With increasing adoption of electric buses, particularly in China and India, has contributed to the growth of the electric commercial segment. Several countries are expected to replace their existing fuel-based bus fleet with electric buses. The increasing trend of replacement of fossil fuel based public transport fleet with electric buses will drive the growth of electric commercial vehicles during the forecast period. Additionally, the growth of e-commerce, logistics, and shared mobility will drive the growth of electric commercial vehicles during the forecast period.

Electric Vehicle market, by Region (units)

The Asia Pacific market is expected to witness the fastest growth, followed by Europe and North America. The automotive industry in the countries such as China, Japan and South Korea is inclined toward innovation, technology, and development of advanced electric vehicle. The increasing demand for reducing carbon emission and developing more advanced and fast charging stations are expected to propel the growth of electric vehicle. BYD, BAIC, Chery and SAIC among others are some of the key players in the Asia Pacific electric vehicle market.

Electric Vehicle Market

Market Dynamics

Drivers:

Favorable government policies and subsidies

The governments of various countries have formulated stringent CO2 emission norms that have increased the demand for electric vehicles. Also, the governments are providing incentives and subsidies to encourage EV sales..

Heavy investments from automakers in EVs

Heavy investments from automakers are expected to cater to the growing demand for EVs and play a major role in the evolution of the electric vehicle market. OEMs offer electric vehicles in different segments ranging from small hatchbacks such as Nissan Leaf to high-end sedans like Tesla Model 3. The wide product offering has attracted many consumers and resulted in a growing market for electric vehicles.

Growing concerns over environmental pollution

ICE vehicles emit a high volume of GHG into the atmosphere. To curb this, the governments of several countries have taken initiatives for the deployment of EVs. These initiatives would help in improving air quality. The use of EVs will reduce the dependence on fossil fuels. Further, electric vehicles require lesser maintenance and operating costs than ICE vehicles.

Demand for increased vehicle range per charge

Recent developments have shown a tremendous increase in vehicle range on a single charge. In addition, electric vehicle manufacturers now offer home charging options with every EV purchase, adding to the convenience of consumers.

Major increase in EV models

Expanding e-mobility is an important building block on the road to a CO2-neutral balance. Government regulations to promote the use of EVs are the driving factor in the increase of EV models by various companies. The number of EV models introduced by automotive companies is increasing rapidly with time.

Restraints:

Lack of standardization of charging infrastructure

For standardization of charging infrastructure, a globally shared vision is significant. There have been several efforts to improve the user experience of charging infrastructure by promoting interoperability, both for drivers and charging network operators.

Opportunities:

Use of vehicle-to-grid (V2G) EV charging stations

Vehicle-to-grid (V2G) EV charging is a system that has a bi-directional electrical energy flow between plug-in EVs and the power grid. V2G technology enables EVs to store unused power and discharge it to the grid. V2G technology can improve the electrical component’s performance and add value for EV owners.

EV charging stations powered by renewable energy

EVs can be charged at an electric charging station or using a solar panel. The use of renewable energy to power EV charging stations is one of the key opportunities for players in the electric vehicle charging market. Due to the lower price and easier installation of solar panels, solar powered charging stations have become ideal for homeowners or commercial buildings.

Challenges:

High cost of EVs in comparison to ICE vehicles

High manufacturing cost of EVs has been a major concern over their widespread adoption. As the popularity of electric cars rises over the next decade, the drops in battery prices and reduced R&D costs should see the overall cost of purchasing electric hatchbacks, crossovers, or SUVs reach levels of similar ICE vehicles

Stringent rules for installation of charging stations

A service provider must follow a certain set of instructions while installing a charging station. Service providers need approval from plot owners (when the installation is done on private property), local government for regulatory mandates, and utility providers for energy transfer.

Limited range of EVs

Many electric vehicle owners are concerned about the range or distance covered in a single charge of EVs. The driving range of EVs is shorter than that of ICE vehicles

Scope of the Report

Report Metric

Details

Market size available for years

2017–2030

Base year considered

2018

Forecast period

2019–2030

Forecast units

Volume (Units)

Segments covered

Vehicle type, propulsion type, vehicle class, component, charging station type, power output

Geographies covered

North America, Asia Pacific, and Europe

Companies covered

Tesla (US), BYD (China), BMW (Germany), Volkswagen (Germany), and Nissan (Japan).
A total of 24 major players covered

This research report categorizes the given market based on, vehicle type, propulsion type, vehicle class, component, charging station type,

Based on vehicle type, the market has been segmented as follows:

  • Passenger Car
  • Commercial Vehicle
  • Two wheeler

Based on Propulsion type, the market has been segmented as follows:

  • Battery electric vehicle (BEV)
  • Fuel cell electric vehicle (FCEV)
  • Plug-in hybrid electric vehicle (PHEV)
  • Hybrid electric vehicle (HEV)

Based on components (qualitative), the market has been segmented as follows:

  • Battery Cells & Packs
  • On-Board Charge
  • Infotainment
  • Electric Motor

Based on the charging station type, the market has been segmented as follows:

  • Normal charging
  • Super charging

Based on vehicle class, the market has been segmented as follows:

  • Mid-Priced
  • Luxury

Based on power output, the market has been segmented as follows:

  • Less than 100 KW
  • 100-250 KW
  • Above 250 KW

Based on the region, the market has been segmented as follows:

  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Thailand
  • North America
    • US
    • Canada
  • Europe
    • Austria
    • France
    • Germany
    • Spain
    • Switzerland
    • Norway
    • Netherlands
    • Denmark
    • Sweden
    • UK

Key Market Players

The global electric vehicle market is dominated by major players such as Tesla (US), BYD (China), BMW (Germany), Volkswagen (Germany), and Nissan (Japan). These companies have strong distribution networks at a global level. In addition, these companies offer an extensive product range in this market. These companies adopt strategies such as new product developments, collaborations, and contracts & agreements to sustain their market position.

Recent Developments

  • In March 2019, Tesla launched its fully electric Model Y, which can carry 7 passengers and their cargo. It has two ultra-responsive, independent electric motors that digitally control torque to the front and rear wheels—for better handling, traction, and stability control.
  • In July 2018, Tesla landed a deal with Chinese authorities to build a new auto plant in Shanghai, its first factory outside the US that would double the size of the electric car maker’s global manufacturing.
  • In April 2019, Nissan announced that the new Nissan Leaf would go on sale in Indonesia and the Philippines by 2020, underscoring Nissan's commitment to driving electrification in the region.
  • In April 2019, BYD announced the launch of the K12A at the company's headquarters in Shenzhen, the world's first 27-m pure electric bus. With a passenger capacity of 250 people, it is the longest pure electric bus in the world and can travel at a maximum speed of 70 km/h.
  • In May 2019, Volkswagen announced pre-booking in Europe for the first model of its new full-electric ID.3. The first special edition, which has been specially configured for pre-booking, includes high-quality, high-performance equipment and is limited to 30,000 vehicles.

Key questions answered

  • Many companies are operating in the electric vehicle space across the globe. Do you know who are the front leaders, and what strategies have been adopted by them?
  • Fast paced developments in electric vehicles such as infotainment systems, instrumental cluster, and smart charging system by leading manufacturers are expected to change the dynamics of the electric vehicle market. How will this transform the overall market?
  • The industry is focusing on long range EVs and efficient electric buses. Which leading companies are working on passenger cars and commercial vehicles, and what organic and inorganic strategies have been adopted by them?
  • What are the upcoming trends in the market? What impact would they make in the coming years?

Available Customizations

With the given market data, MarketsandMarkets offers customizations in accordance to the company’s specific needs.

  • Electric Vehicle Charging Market, By power output type at country level
  • Electric Vehicle Charging Market, By application type at country level

Company Information

  • Profiling of Additional Market Players (Up to 3)

Frequently Asked Questions (FAQ):

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Limitations
    1.5 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Secondary Sources
                    2.1.1.2 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Sampling Techniques & Data Collection Methods
                    2.1.2.2 Primary Participants
                    2.1.2.3 Key Data From Primary Sources
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Bottom-Up Approach for Electric Vehicle Supply Equipment Market
           2.2.3 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Assumptions & Associated Risks

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Opportunities in the Electric Vehicle Market
    4.2 Electric Vehicle Market, By Region
    4.3 Electric Vehicle Market, By Propulsion Type
    4.4 Electric Vehicle Market, By Vehicle Class
    4.5 Electric Vehicle Market, By Vehicle Type
    4.6 Electric Vehicle Supply Equipment Market, By Charging Station Type

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Favorable Government Policies and Subsidies
                    5.2.1.2 Heavy Investments From Automakers in EVs
                    5.2.1.3 Growing Concerns Over Environmental Pollution
                    5.2.1.4 Demand for Increased Vehicle Range Per Charge
                    5.2.1.5 Major Increase in EV Models
           5.2.2 Restraints
                    5.2.2.1 Lack of Standardization of Charging Infrastructure
           5.2.3 Opportunities
                    5.2.3.1 Use of Vehicle-To-Grid (V2g) EV Charging Stations
                    5.2.3.2 EV Charging Stations Powered By Renewable Energy
           5.2.4 Challenges
                    5.2.4.1 High Cost of EVs in Comparison to Ice Vehicles
                    5.2.4.2 Stringent Rules for Installation of Charging Stations
                    5.2.4.3 Limited Range of EVs
    5.3 Electric Vehicle Industry,  Scenarios (2018–2027)
           5.3.1 Electric Vehicle Market, Most Likely Scenario
           5.3.2 Electric Vehicle Market, Optimistic Scenario
           5.3.3 Electric Vehicle Market, Pessimistic Scenario
    5.4 Revenue Shift and Hot Bets in the Electric Vehicle Market
    5.5 Upcoming Electric Vehicle Models
    5.6 Europe Passenger Car Market Share Analysis
           5.6.1 BEV
           5.6.2 PHEV
    5.7 US Passenger Car Market Share Analysis 2017
    5.8 US Passenger Car Market Share Analysis 2018
    5.9 China Passenger Car Market Share Analysis 2017
    5.1 China Passenger Car Market Share Analysis 2018
    5.11 Companies Analysis in EV Ecosystem
    5.12 Global Competitive Leadership Mapping (Major Players)
    5.13 Competitive Leadership Mapping (SME/Start-Ups)
    5.14 EV Ecosyetem Competitive Leadership Mapping, 2018

6 Industry Trends (Page No. - 49)
    6.1 Introduction
    6.2 Shared Mobility
    6.3 Batteries Used in Solar Vehicles
           6.3.1 Lead–Acid Battery
           6.3.2 Lead Carbon Battery
           6.3.3 Lithium–Ion Battery
           6.3.4 Solid-State Battery (SSB)
    6.4 Smart Charging System

7 Electric Vehicle Government Regulations (Page No. - 53)
    7.1 Introduction
    7.2 Canada
    7.3 China
    7.4 Denmark
    7.5 France
    7.6 Austria
    7.7 Germany
    7.8 Spain

8 Electric Vehicle Market, By Component (Page No. - 59)
    8.1 Introduction
    8.2 Research Methodology
    8.3 Key Industry Insights
    8.4 Battery Cells & Packs
    8.5 On-Board Charger
    8.6 Infotainment System
    8.7 Electric Motor

9 Electric Vehicles Market, By Charging Station Type (Page No. - 61)
    9.1 Introduction
    9.2 Research Methodology
    9.3 Key Industry Insights
    9.4 Normal Charging
           9.4.1 Increase Adoption of Electric Vehicles Will Boost the Demand
    9.5 Super Charging
           9.5.1 Demand for Fast Charging Station Will Boost the Demand for Super Charging

10 Electric Vehicle Market, By Propulsion Type (Page No. - 66)
     10.1 Introduction
     10.2 Research Methodology
     10.3 Key Industry Insights
     10.4 Battery Electric Vehicle (BEV)
             10.4.1 Increase in Vehicle Range Per Charge Will Boost the Demand
     10.5 Fuel Cell Electric Vehicle (FCEV)
             10.5.1 Demand for Zero Emission Vehicles Will Uplift the Market
     10.6 Plug-In Hybrid Electric Vehicle (PHEV)
             10.6.1 Government Providing Tax Benefits and Incentives Will Boost the Demand
     10.7 Hybrid Electric Vehicle (HEV)

11 Electric Vehicle Market, By Vehicle Type (Page No. - 73)
     11.1 Introduction
     11.2 Research Methodology
     10.3 Key Industry Insights
     11.4 Passenger Car (PC)
             11.4.1 Growing Emission Norms Will Boost the Demand
     11.5 Commercial Vehicles (CV)
             11.5.1 Growth of E-Commerce and Logistics Will Boost the Demand
     10.6 Two - Wheeler

12 Electric Vehicle Market, By Vehicle Class (Page No. - 78)
     12.1 Introduction
     12.2 Research Methodology
     12.3 Key Industry Insights
     12.4 Mid-Priced
             12.4.1 Decrease in Battery Price Will Boost the Demand
     12.5 Luxury
             12.5.1 Demand for High End Technology Will Boost the Demand

13 Electric Vehicles Market, By Power Output (Page No. - 73)
     13.1 Introduction
     13.2 Research Methodology
     13.3 Key Industry Insights
     13.4 Operational Data
             13.4.1 Assumptions Power Output
             13.4.2 Research Methodology
     13.5 Less Than 100 Kw
             13.5.1 Startups in Europe are Developing Small Budgeted Cars
     13.6 Less Than 100-250 Kw
     13.7 Above 250 Kw
             13.7.1 Start-Ups are Developing High Powered Cars in North America

14 Electric Vehicle Market, By Region (Page No. - 83)
     14.1 Introduction
     14.2 Asia Pacific
             14.2.1 Electric Vehicle Supply Equipment Market, By Component
             14.2.2 Electric Vehicle Supply Equipment Market, By Charging Station Type
             14.2.3 Electric Vehicle Market, By Propulsion Type
             14.2.4 Electric Vehicle Market, By Vehicle Type
             14.2.5 Electric Vehicle Market, By Vehicle Class
             14.2.6 Electric Vehicle Market, By Region
                        14.2.6.1 China
                                     14.2.6.1.1 Increased Investment in Charging Infrastructure Will Uplift the Market 87
                        14.2.6.2 India
                                     14.2.6.2.1 Abb to Set Up Electric Vehicle Chargers Facilities Will Boost the Demand 88
                        14.2.6.3 Japan
                                     14.2.6.3.1 Advancement in Battery Technology Will Boost the Demand
                        14.2.6.4 South Korea
                                     14.2.6.4.1 Increased Investment in Electric Vehicles Will Boost the Demand
                        14.2.6.5 Thailand
                                     14.2.6.5.1 Increased Focus on Electric Vehicle to Boost Demand
     14.3 Europe
             14.3.1 Electric Vehicle Supply Equipment Market, By Component
             14.3.2 Electric Vehicle Supply Equipment Market, By Charging Station Type
             14.3.3 Electric Vehicle Market, By Propulsion Type
             14.3.4 Electric Vehicles Market, By Vehicle Type
             14.3.5 Electric Vehicle Market, By Vehicle Class
             14.3.6 Electric Vehicles Market, By Region
             14.3.7 France
                        14.3.7.1 Government Offering Purchase Grants Will Boost the Demand
             14.3.8 Germany
                        14.3.8.1 Rising Sales of Hybrid Vehicles By Domestic Players Will Boost the Demand
             14.3.9 Netherlands
                        14.3.9.1 Government Focus Towards Greener Vehicles Will Boost the Demand
             14.3.10 Norway
                        14.3.10.1 Emergence of E-Mobility Will Boost the Demand
             14.3.11 Sweden
                        14.3.11.1 Strong Existing Charging Infrastructure Will Boost the Demand
             14.3.12 UK
                        14.3.12.1 Country Investment Towards Ultra-Low Emission Vehicles Will Boost the Demand
             14.3.13 Denmark
                        14.3.13.1 Government Promoting Private Infrastructure Will Boost the Demand
             14.3.14 Austria
                        14.3.14.1 Country Moving Towards Cleaner Vehicles Will Boost the Demand
             14.3.15 Switzerland
                        14.3.15.1 Country Focus Towards Expansion of Electric Vehicle Charging Infrastructure
             14.3.16 Spain
                        14.3.16.1 Increasing Investments in FCEV Will Uplift the Market
             14.3.17 Belgium
                        14.3.17.1 Higher Adoption Rate to Benefit the Belgium Electric Commercial Vehicle Market
     14.4 North America
             14.4.1 Electric Vehicle Supply Equipment Market, By Component
             14.4.2 Electric Vehicle Supply Equipment Market, By Charging Station Type
             14.4.3 Electric Vehicle Market, By Propulsion Type
             14.4.4 Electric Vehicle Market, By Vehicle Type
             14.4.5 Electric Vehicle Market, By Vehicle Class
             14.4.6 Electric Vehicles Market, By Region
             14.4.7 Canada
                        14.4.7.1 Increasing Development in Electric Vehicles Infrastructure Will Boost the Demand
             14.4.8 US
                        14.4.8.1 Increasing Production Capacity of Electric Vehicles Will Uplift the Market
     14.5 Market Leaders

15 Competitive Landscape (Page No. - 102)
     15.1 Overview
     15.2 Market Ranking Analysis
     15.3 Competitive Scenario
     15.4 Global Competitive Leadership Mapping (Major Players)
             15.4.1 Visionary Leaders
             15.4.2 Innovators
             15.4.3 Dynamic Differentiators
             15.4.4 Emerging Companies
     15.5 Competitive Leadership Mapping (SME/Start-Ups)
             15.5.1 Progressive Companies
             15.5.2 Resposive Companies
             15.5.3 Dynamic Companies
             15.5.4 Starting Blocks
     15.6 Winners vs. Tail-Enders

16 Company Profiles (Page No. - 115)
     16.1 Key Players
             16.1.1 Tesla Motors
                        16.1.1.1 Overview
                        16.1.1.2 Products Offered
                        16.1.1.3 Recent Developments
                        16.1.1.4 SWOT Analysis
             16.1.2 Nissan Motor
                        16.1.2.1 Overview
                        16.1.2.2 Products Offered
                        16.1.2.3 Recent Developments
                        16.1.2.4 SWOT Analysis
             16.1.3 BYD
                        16.1.3.1 Overview
                        16.1.3.2 Products Offered
                        16.1.3.3 Recent Developments
                        16.1.3.4 SWOT Analysis
             16.1.4 BMW
                        16.1.4.1 Overview
                        16.1.4.2 Products Offered
                        16.1.4.3 Recent Developments
                        16.1.4.4 SWOT Analysis
             16.1.5 Volkswagen
                        16.1.5.1 Overview
                        16.1.5.2 Products Offered
                        16.1.5.3 Recent Developments
                        16.1.5.4 SWOT Analysis
             16.1.6 Toyota
                        16.1.6.1 Overview
                        16.1.6.2 Products Offered
                        16.1.6.3 Recent Developments
             16.1.7 Ford
                        16.1.7.1 Overview
                        16.1.7.2 Products Offered
                        16.1.7.3 Recent Developments
             16.1.8 Volvo
                        16.1.8.1 Overview
                        16.1.8.2 Products Offered
                        16.1.8.3 Recent Developments
             16.1.9 Daimler
                        16.1.9.1 Overview
                        16.1.9.2 Products Offered
                        16.1.9.3 Recent Developments
             16.1.10 Hyundai
                        16.1.10.1 Overview
                        16.1.10.2 Products Offered
                        16.1.10.3 Recent Developments
             16.1.11 Honda
                        16.1.11.1 Overview
                        16.1.11.2 Products Offered
                        16.1.11.3 Recent Developments
             16.1.12 Continental
                        16.1.12.1 Products Offered
                        16.1.12.2 Recent Developments
     16.2 Key Players From Other Regions
             16.2.1 North America
                        16.2.1.1 General Motors
                        16.2.1.2 Rivian
                        16.2.1.3 Faraday Future
                        16.2.1.4 Fisker
             16.2.2 Europe
                        16.2.2.1 Alcraft Motor Company
             16.2.3 Asia Pacific
                        16.2.3.1 Byton
                        16.2.3.2 Kia Motors
                        16.2.3.3 Baic Motor
                        16.2.3.4 Chery
                        16.2.3.5 Saic Motor
                        16.2.3.6 JAC
                        16.2.3.7 Zotye
                        16.2.3.8 Geely

17 Recommendations By Marketsandmarkets (Page No. - 148)
     17.1 Asia Pacific Will Be the Major Market for Electric Vehicle
     17.2 BEVs Can Be A Key Focus for Manufacturers
     17.3 Conclusion

18 Appendix (Page No. - 152)
     18.1 Key Insights of Industry Experts
     18.2 Discussion Guide
     18.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     18.4 Available Customizations
     18.5 Related Reports
     18.6 Author Details


List of Tables (86 Tables)

Table 1 Currency Exchange Rates (Per 1 USD)
Table 2 Impact of Market Dynamics
Table 3 Upcoming Electric Vehicle Models, 2019–2028
Table 4 Existing Subsidies and Tax Structure, Canada, 2018
Table 5 Existing Charging Station Standards in China
Table 6 Existing Subsidies and Tax Structure, China, 2018
Table 7 Existing Subsidies and Tax Structure, Denmark, 2018
Table 8 Existing Subsidies and Tax Structure, France, 2018
Table 9 Existing Subsidies and Tax Structure, Austria, 2018
Table 10 Existing Subsidies and Tax Structure, Germany, 2018
Table 11 Existing Subsidies and Tax Structure, Spain, 2018
Table 12 Electric Vehicle Supply Equipment Market, By Charging Station Type, 2017–2027 (Units)
Table 13 Normal Charging: Electric Vehicle Supply Equipment Market, By Region, 2017–2027 (Units)
Table 14 Super Charging: Electric Vehicle Supply Equipment Market, By Region, 2017–2027 (Units)
Table 15 Electric Vehicle Market, By Propulsion Type, 2017–2030 (Thousand Units)
Table 16 BEV: Market, By Region, 2017–2030 (Thousand Units)
Table 17 FCEV: Market, By Region, 2017–2030 (Thousand Units)
Table 18 PHEV: Market, By Region, 2017–2030 (Thousand Units)
Table 19 Electric Vehicle Market, By Vehicle Type, 2017–2030 (Thousand Units)
Table 20 Passenger Car: Market, By Region, 2017–2030 (Thousand Units)
Table 21 Commercial Vehicles: Market, By Region, 2017–2030 (Thousand Units)
Table 22 Electric Vehicle Market Size, By Vehicle Class, 2017–2030 (Thousand Units)
Table 23 Mid-Priced: Market Size, By Region, 2017–2030 (Thousand Units)
Table 24 Luxury: Market Size, By Region, 2017–2030 (Thousand Units)
Table 25 Electric Vehicle Market, By Region, 2017–2030 (Thousand Units)
Table 26 Asia Pacific: Passenger Car EV Market, By Country, 2017–2030 (Units)
Table 27 Electric Vehicle Supply Equipment Market, By Component
Table 28 Electric Vehicle Supply Equipment Market, By Charging Station Type
Table 29 Electric Vehicle Market, By Propulsion Type
Table 30 Electric Vehicles Market, By Vehicle Type
Table 31 Electric Vehicle Market, By Vehicle Class
Table 32 Electric Vehicles Market, By Region
Table 27 China: Market, By Propulsion Type, 2017–2030 (Units)
Table 28 China: Market, By Vehicle Type, 2017–2030 (Thousand Units)
Table 29 India: Market, By Propulsion Type, 2017–2030 (Units)
Table 30 India: Market, By Vehicle Type, 2017–2030 (Thousand Units)
Table 31 Japan: Market, By Propulsion Type, 2017–2030 (Units)
Table 32 Japan: Market, By Vehicle Type, 2017–2030 (Thousand Units)
Table 33 South Korea: Market, By Propulsion Type, 2017–2030 (Units)
Table 34 South Korea: Market, By Vehicle Type, 2017–2030 (Thousand Units)
Table 35 Europe: Market, By Country, 2017–2030 (Units)
Table 27 Electric Vehicle Supply Equipment Market, By Component
Table 28 Electric Vehicle Supply Equipment Market, By Charging Station Type
Table 29 Electric Vehicle Market, By Propulsion Type
Table 30 Global Electric Vehicle Market, By Vehicle Type
Table 31 Global Electric Vehicle Market, By Vehicle Class
Table 32 Global Electric Vehicle Market, By Region
Table 36 France: Market, By Propulsion Type, 2017–2030 (Units)
Table 37 France: Market, By Vehicle Type, 2017–2030 (Thousand Units)
Table 38 Germany: Market, By Propulsion Type, 2017–2030 (Units)
Table 39 Germany: Market, By Vehicle Type, 2017–2030 (Thousand Units)
Table 40 Netherlands: Market, By Propulsion Type,2017–2030 (Units)
Table 41 Netherlands: Market, By Vehicle Type, 2017–2030 (Thousand Units)
Table 42 Norway: Market, By Propulsion Type, 2017–2030 (Units)
Table 43 Norway: Market, By Vehicle Type, 2017–2030 (Thousand Units)
Table 44 Sweden: Market, By Propulsion Type, 2017–2030 (Units)
Table 45 Sweden: Market, By Vehicle Type, 2017–2030 (Thousand Units)
Table 46 UK: Electric Vehicle Market, By Propulsion Type, 2017–2030 (Units)
Table 47 UK: Electric Vehicle Market, By Vehicle Type, 2017–2030 (Thousand Units)
Table 48 Denmark: Market, By Propulsion Type, 2017–2030 (Units)
Table 49 Denmark: Market, By Vehicle Type, 2017–2030 (Thousand Units)
Table 50 Austria: Market, By Propulsion Type, 2017–2030 (Units)
Table 51 Austria: Market, By Vehicle Type, 2017–2030 (Thousand Units)
Table 52 Switzerland: Market, By Propulsion Type, 2017–2030 (Units)
Table 53 Switzerland: Market, By Vehicle Type, 2017–2030 (Thousand Units)
Table 54 Spain: Market, By Propulsion Type, 2017–2030 (Units)
Table 55 Spain: Market, By Vehicle Type, 2017–2030 (Thousand Units)
Table 56 North America: Passenger Car Electric Vehicle Market, By Country, 2017–2030 (Units)
Table 27 EVSE Market, By Component
Table 28 EVSE Market, By Charging Station Type
Table 29 Global Electric Vehicle Market, By Propulsion Type
Table 30 Global Electric Vehicle Market, By Vehicle Type
Table 31 Global Electric Vehicle Market, By Vehicle Class
Table 32 Global Electric Vehicle Market, By Region
Table 57 Canada: Market, By Propulsion Type, 2017–2030 (Units)
Table 58 Canada: Market, By Vehicle Type, 2017–2030 (Thousand Units) 93
Table 59 US: Market, By Propulsion Type, 2017–2030 (Units)
Table 60 US: Market, By Vehicle Type, 2017–2030 (Thousand Units)
Table 61 New Product Developments & Expansion, 2016-2019
Table 62 Partnerships/Supply Contracts/Collaborations/Joint Ventures/ Agreements, 2016-2019
Table 63 Tesla Motors: Total Sales, 2015-2018 (USD Billion)
Table 64 Tesla Motors: Recent Development
Table 65 Nissan Motor: Total Sales, 2015-2018 (USD Billion)
Table 66 Nissan Motor: Recent Development
Table 67 BYD: Total Sales, 2015-2018 (USD Billion)
Table 68 BYD: Recent Development
Table 69 BMW Group: Total Sales, 2015-2018 (USD Billion)
Table 70 BMW Group: Recent Development
Table 71 Volkswagen: Total Sales, 2015-2018 (USD Billion)
Table 72 Volkswagen: Recent Development
Table 73 Toyota: Total Sales, 2015-2018 (USD Billion)
Table 74 Toyota: Recent Development
Table 75 Ford: Total Sales, 2015-2018 (USD Billion)
Table 76 Ford: Recent Development
Table 77 Volvo: Total Sales, 2015-2018 (USD Billion)
Table 78 Volvo: Recent Development
Table 79 Daimler: Total Sales, 2015-2018 (USD Billion)
Table 80 Daimler: Recent Development
Table 81 Hyundai : Total Sales, 2015-2018 (USD Billion)
Table 82 Hyundai: Recent Development
Table 83 Honda: Total Sales, 2015-2018 (USD Billion)
Table 84 Honda: Recent Development
Table 85 Total Sales, 2015-2018 (USD Billion)
Table 86 Net Profit, 2015-2018 (USD Million)


List of Figures (49 Figures)

Figure 1 Electric Vehicle Market Segmentation
Figure 2 Electric Vehicles Market: Research Design
Figure 3 Research Methodology Model
Figure 4 Breakdown of Primary Interviews
Figure 5 Market Size Estimation Methodology for the Electric Vehicle Market: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology for the Electric Vehicle Supply Equipment Market: Bottom-Up Approach
Figure 7 Market Size Estimation Methodology for the Electric Vehicle Market: Top-Down Approach
Figure 8 Data Triangulation
Figure 9 Decreasing Battery Prices
Figure 10 Electric Vehicle Market, By Region, 2019–2030 (Thousand Units)
Figure 11 Private Charging to Hold the Largest Share in the Electric Vehicle Supply Equipment Market in 2019
Figure 12 Technological Advancements and Greater Intervention from Government are Anticipated to Fuel the Growth of Electric Vehicle Market From 2019 to 2030
Figure 13 Asia Pacific is Estimated to Hold the Largest Share of Electric Vehicle Market in 2019
Figure 14 BEV Segment is Estimated to Hold the Largest Share of EV Market in 2019
Figure 15 Mid-Priced Segment to Hold the Largest Market Share, 2019 vs. 2030 (Million Units)
Figure 16 Passenger Car is Estimated to Hold the Largest Share of this Market in 2019
Figure 17 Normal Charging is Estimated to Hold the Largest Share of Electric Vehicle Supply Equipment Market in 2019
Figure 18 Electric Vehicle: Market Dynamics
Figure 19 Types of Electric Vehicle Batteries
Figure 20 Super Charging Segment is Expected to Grow at A Higher CAGR During the Forecast Period (2019–2027)
Figure 21 FCEV Segment is Expected to Grow at the Highest CAGR During the Forecast Period (2019–2030)
Figure 22 Commercial Vehicle Segment is Expected to Grow at the Highest CAGR During the Forecast Period (2019–2030)
Figure 23 Mid-Priced Segment is Expected to Grow at A Higher CAGR During the Forecast Period (2019–2030)
Figure 24 Asia Pacific is Estimated to Be the Fastest Growing Market for Electric Vehicles During the Forecast Period (2019–2030)
Figure 25 China Accounts for the Largest Market Share in the Asia Pacific Market, 2019 vs. 2030
Figure 26 Europe: Electric Vehicle Industry Snapshot
Figure 27 North America: Electric Vehicle Industry Snapshot
Figure 28 Key Developments By Leading Players, 2016–2019
Figure 29 Ranking of Key Players, 2018
Figure 30 Global Competitive Leadership Mapping, 2018
Figure 31 SME Competitive Leadership Mapping, 2018
Figure 32 Ev Ecosyetem Competitive Leadership Mapping, 2018
Figure 33 Tesla Motors: Company Snapshot
Figure 34 Tesla Motors: SWOT Analysis
Figure 35 Nissan Motor: Company Snapshot
Figure 36 Nissan: SWOT Analysis
Figure 37 BYD: Company Snapshot
Figure 38 BYD: SWOT Analysis
Figure 39 BMW Group: Company Snapshot
Figure 40 BMW: SWOT Analysis
Figure 41 Volkswagen: Company Snapshot
Figure 42 Volkswagen: SWOT Analysis
Figure 43 Toyota: Company Snapshot
Figure 44 Ford: Company Snapshot
Figure 45 Volvo: Company Snapshot
Figure 46 Daimler: Company Snapshot
Figure 47 Hyundai : Company Snapshot
Figure 48 Honda: Company Snapshot
Figure 49 Continental: Company Snapshot

The study involved four major activities in estimating the current size of the electric vehicles market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the electric vehicle market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as company annual reports/presentations, press releases, industry association publications [such as publications of electric vehicles’ OEMs, Canadian Automobile Association (CAA), country-level automotive associations & trade organizations, and the US Department of Transportation (DOT)], electric vehicle magazine articles, directories, technical handbooks, World Economic Outlook, trade websites, and technical articles were used to identify and collect information useful for an extensive commercial study of the global electric vehicle market.

Primary Research

Extensive primary research has been conducted after acquiring an understanding of this market scenario through secondary research. Several primary interviews have been conducted with market experts from the demand- and supply-side OEMs (in terms of component supply, country-level government associations, and trade associations) and component manufacturers across three major regions, namely, Asia Pacific, Europe, and North America. Approximately 23% and 77% of primary interviews have been conducted from the demand- and supply-side, respectively. Primary data has been collected through questionnaires, emails, LinkedIn, and telephonic interviews. In the canvassing of primaries, we have strived to cover various departments within organizations, such as sales, operations, and administration, to provide a holistic viewpoint in our report.

After interacting with industry experts, we conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report. Following is the breakdown of primary respondents.

Electric Vehicle Market

To know about the assumptions considered for the study, download the pdf brochure

Electric Vehicles Market Size Estimation

The top-down and bottom-up approaches were used to estimate and validate the total market size. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the global market size includes the following:

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall electric vehicle market size-using the market size estimation processes as explained above-the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To segment and forecast the market for electric vehicle size, in terms of volume (units)
  • To define, describe, and forecast the market for electric vehicle based on charging station type, propulsion type, vehicle type, vehicle class, component (qualitative) and region
  • To segment and forecast electric vehicle market by charging station type (normal charging, supercharging)
  • To segment and forecast the market by propulsion type [Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV), and Battery Electric Vehicle (BEV)]
  • To segment and forecast the global market by vehicle type (passenger car and commercial vehicle)
  • To segment and forecast the global electric vehicle market by vehicle class (mid-priced and luxury)
  • To provide detailed information regarding the major factors influencing the ev market growth (drivers, challenges, restraints, and opportunities)
  • To strategically analyze regional markets with respect to individual growth trends, future prospects, and contribution to the total electric vehicle market
Report Code
AT 4907
Published ON
Jun, 2019
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