Electric Vehicle Market

Electric Vehicle Market by Component, Vehicle (Passenger Cars, CV), Propulsion (BEV, PHEV, FCEV), Vehicle Drive Type (FWD, RWD, AWD), Vehicle Top Speed (<125 mph, >125 mph), Charging Point, Vehicle Class, V2G, Region-Global Forecast 2030

Report Code: AT 4907 May, 2021, by marketsandmarkets.com

[288 Pages Report] The global electric vehicle market size is projected to grow from 4,093 thousand units in 2021 to 34,756 thousand units by 2030, at a CAGR of 26.8%. Factors such as growing demand for low emission commuting and governments supporting long range, zero emission vehicles through subsidies & tax rebates have compelled the manufacturers to provide electric vehicles around the world. This has led to a growing demand for electric vehicles in the market. Countries around the world have set up targets for emission reductions according to their own capacity.

Increasing investments by governments across the globe to develop EV charging stations and Hydrogen fueling stations along with incentives offered to buyers will create opportunities for OEMs to expand their revenue stream and geographical presence. The market in Asia Pacific is projected to experience steady growth owing to the high demand for lower cost-efficient and low-emission vehicles, while the North American and European market is fast-growing markets due to the government initiatives and growing high-performance Passenger vehicle segment. However, the low presence of EV charging stations and hydrogen fuel stations, higher costs involved in initial investments, and performance constraints could hamper the growth of the global electric vehicle market.

Electric Vehicle Market

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COVID-19 Impact On the Electric Vehicle Market:

The production and sales of new vehicles had come to a halt across the globe as the whole ecosystem had been disrupted in the initial outbreak of COVID 19. OEMs had to wait until lockdowns were lifted to resume production, which affected their businesses. Hence, vehicle manufacturers had to adjust the production volume. Also, component manufacturing was suspended, and small Tier II and Tier III manufacturers faced liquidity issues. The automotive industry is highly capital-intensive and relies on frequent financing to continue operations. Thus, the production suspension during the initial months of the outbreak and lower demand had an unprecedented impact on EV manufacturers in the initial months of the pandemic.

Due to the COVID-19 pandemic, many countries had imposed a complete lockdown of more than two months, which, in turn, has impacted vehicle production. Manufacturing units around the world were shut down, and vehicle sales have taken a huge hit. However, the majority of the automakers resumed vehicle production with limited production and necessary measures. Conditions improved in the latter months, but overall EV manufacturers did not suffer much as demand for zero emission vehicles increased during the latter months of 2020. This led to an overall increase in demand for electric vehicles in the market.

However, EV’s had a growing demand in the covid-19 period. This led to a growing demand for EV production around the world. In the first few months, however, the production of most companies was affected due to lockdowns and logistics problems. However, post lockdowns, demand for EV’s surged as governments around the world increasingly encouraged changing to low emission fuel vehicles. Many countries also increased their EV charging stations and hydrogen fueling stations across their states. This led to a growing demand for BEV’s, PHEV’s and FCEV’s in the market from June to December 2020 and in first few months of 2021. Overall, there wasn’t much of a loss for the electric vehicle market during the pandemic due to its increase in demand.

Market Dynamics:

Driver: Reducing the cost of EV batteries

Due to technological advancements and the production of EV batteries on a mass scale in large volumes, the cost of EV batteries has been decreasing over the past decade. This has led to a decrease in cost of the electric vehicles as EV batteries are one of the most expensive parts of an electric vehicle. in 2010, the price of an EV battery was around USD 1,100 per kWh. However, by 2020 their price fell to around USD 137 per kWh while the price is as low as USD 100 per kWh in China. This is because of reducing manufacturing costs of these batteries, reduced cathode material prices and greater volumes of production, etc. The prices of EV batteries are expected to fall to around USD 60 per kWh by 2030, which will greatly reduce the price of EV’s making them cheaper than conventional ICE vehicles.

Restraint: Lack of EV charging infrastructure

There is a low number of EV charging stations in many countries around the world. This makes the possibility of public EV charging less thereby reducing the demand for electric vehicles. Although many countries are working on developing EV charging infrastructure, most countries haven’t been able to develop an appropriate number of EV charging stations except in some states. The demand for EV’s will increase once there is a well-developed EV charging network across the world. Most countries are yet to develop such charging networks across their region. The Netherlands has the highest EV charger density per 100 km’s.

Opportunity: Government initiatives pertaining to EV’s

Countries around the world have set up targets of around 2050 to reduce vehicle emissions. They have started promoting the development and sales of EV’s and related charging infrastructure. For instance, the US government invested USD 5 billion in 2017 to promote electric vehicle infrastructure such as charging stations. Several governments are providing various kinds of incentives such as low or zero registration fees and exemptions from import tax, purchase tax, and road tax. Furthermore, countries such as Norway and Germany are investing significantly in promoting sales of EVs. Thus, due to the large incentives and subsidies in Europe, a high growth rate in the sale of electric vehicles is observed. This has led to the growth in the demand for components and equipment associated with EV charging operations such as charging cables, connectors, adapters, and portable chargers. Also, as part of a partnership between the US departments of energy and transportation, a 2020 vision for a national fast-charging network is expected to be developed, with potential longer-term innovations which include up to 350 kW of direct current fast charging. Stringent CO2 emission norms have increased the demand for electric vehicles. Governments are investing significantly in providing incentives and subsidies to encourage sales of EVs. These steps taken by governments around the world will help in increasing demand for EV’s in the coming decade.

Challenge: Insufficient standardization of EV charging infrastructure

Factors such as the growth of the electric vehicle market and variation in charging loads have emphasized the need for the standardization of electric vehicle charging stations. Certain EV charging stations may only be compatible with a certain type of voltage. For instance, AC charging stations provide a voltage of 120V AC through level 1 charging stations and 208/240V AC through level 2 charging stations. On the other hand, DC charging stations provide fast charging through 480V AC. Governments need to standardize charging infrastructure for the development of a favorable ecosystem and an increase in the sales of EVs. Different countries use different standards for fast charging. Japan uses CHAdeMO; Europe, US, and Korea use CCS; and China uses GB/T. The Indian government had mandated the installation of both, CHAdeMO and CCS methods since India has not reached standardization in fast charging methods. Though, this mandate increased the installation cost of charging stations and hence in July 2019, the government changed the guidelines and allowed charging station developers to choose the method they prefer. US-based electric car maker Tesla uses high-performance superchargers that are unique to Tesla and cannot be used for other EVs. The lack of standardization across countries may impact the installation of charging stations and hamper the growth of the Electric Vehicle Charging Station market.

The passenger car segment to be the largest segment during the forecast period

The electric vehicle market for passenger cars is largest in Asia Pacific followed by Europe and North America. In Asia, China, Japan and South Korea are the countries leading the passenger EV market in the region. This is due to the strong government support for passenger EV’s in these countries. Germany, France, Netherlands, Norway, Sweden, UK, etc. are the top countries in the European region with a growing demand for EV passenger vehicles. These countries have come out with string of emission regulations and a variety of subsidies, grants and incentives for shifting to EV’s. in 2020, due to these measures, Europe’s EV sales went beyond China’s EV sales. North America is also increasing EV passenger car demand with various states in US and Canada leading the electrifying trend. MEA countries have started to increase their EV’s market and are expected to be the fastest-growing market in the coming years.

Rear-wheel Drive EV’s to be higher in demand during the forecast period

The demand for RWD EVs has been on the increase across all regions, particularly across Asia Pacific and Europe. This is due to its easier vehicle control and growing demand for these vehicles. North America also has seen a faster growth in these vehicles with Tesla Model 3 Standard version, BMW i3, Volkswagen ID4, Porsche Tycan, etc. leading the market. In the coming decade, the growth of RWD EV’s will be highest in MEA due to its newer market and mostly across Asia Pacific. The Wuling Hongguang Mini EV which made a big splash in the EV market in 2020 is also an RWD popular across Asia and Europe.

The Asia Pacific market is projected to hold the largest share by 2030

The Asia Pacific EV market is led by countries like China, Japan and South Korea. China being the world’s largest EV producer and user has a dominance in the EV industry in the region. Their government has taken steps including subsidies for EV buyers, compulsory laws by which all vehicle manufacturers need to manufacture EV’s per number of vehicles manufactured, large support to installation of EV charging points across major cities and regulations against excessive polluting vehicles. Japan and South Korea have also been growing their EV market. Their governments have supported the EV demand growth by installing EV charging stations, making emission norms, setting up deadlines for shifting to full or hybrid EVs from ICE vehicles, etc. India is also working on increasing its EV demand in the market. The new vehicle scrappage policy in which old vehicles can be scrapped off for changing to low emission ones and other upcoming policies will help the country become the region's fastest-growing market for EV’s in the coming years.

Electric Vehicle Market by Region

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Key Market Players

The Electric Vehicle Market is dominated by established players such as Tesla (US), BYD (China), Volkswagen AG (Germany), BMW Group (Germany) and Nissan Motors (Japan). The market ranking has been derived by considering a certain percentage of the segmental revenue for each of the companies mentioned above. These companies also offer extensive products and solutions for the automotive industry. These companies have strong distribution networks at the global level, and they invest heavily in R&D to develop new products.

Scope of the Report

Report Metric

Details

Market size available for years

2017–2030

Base year considered

2020

Forecast period

2021-2030

Forecast units

Volume (Thousand Units)

Segments covered

Components, Vehicle Type,  Vehicle Class, Top Speed, Vehicle Drive Type, EV Charging Point Type, V2G, Propulsion and Region.

Geographies covered

Asia Pacific, Europe, North America, Middle East and Africa

Companies Covered

Tesla (US), BYD (China), Volkswagen AG (Germany), BMW Group (Germany) and Nissan Motors (Japan). 
A total of 30 major company profiles covered and provided.

This research report categorizes the electric vehicle market based on Components, Vehicle Type,  Vehicle Class, Top Speed, Vehicle Drive Type, EV Charging Point Type, V2G, Propulsion and Region.

Based on Components:

  • Battery Cells & Packs
  • On-Board Charge
  • Motor
  • Reducer
  • Fuel Stack
  • Power Control Unit
  • Battery Management System
  • Fuel Processor
  • Power Conditioner
  • Air Compressor
  • Humidifier

Based on Vehicle Type:

  • Passenger Cars
  • Commercial Vehicles

Based on Vehicle Class:

  • Mid-priced
  • Luxury

Based on Top Speed:

  • <125 MPH
  • >125 MPH

Based on Vehicle Drive Type:

  • Front-Wheel Drive
  • Rear Wheel Drive
  • All Wheel Drive

Based on EV Charging Point Type:

  • Normal Charging
  • Super Charging

Based on V2G:

  • V2B or V2H
  • V2G
  • V2V
  • V2X

Based on Propulsion

  • BEV
  • PHEV
  • FCEV

Based on the region:

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

Recent Developments

  • In April 2021, Toyota launched the new LS and Mirai models in japan which come with advanced driving assist technology.
  • In April 2021, BYD launched four new electric vehicle models equipped with Blade batteries in Chongqing. The new vehicle models, Tang EV, Qin Plus EV, Song Plus EV and E2 2021 come with advanced battery safety features.
  • In April 2021, Volkswagen unveiled the 7 seater EV ID.6 Crozz and ID.6 X produced along with FAW and SAIC in China. The vehicles will be sold only in China. It comes in two battery versions, 58 kWh and 77 kWh and comes in four powertrain configurations.
  • In March 2021, Volvo showcased its new C40 Recharge model. The vehicle is designed as a pure electric car and has most features similar to its XC60 model. 
  • In December 2020, Nissan announced 2021 Leaf model in US. The vehicle comes with a choice of battery between 40 kWh and 62 kWh. The mileage ranges between 149 miles and 226 miles per charge.
  • In July 2020, BYD launched its Han which comes with blade battery and is available in BEV and PHEV versions. It comes with two battery options, 65 kWh option for 314 miles and 77kWh option for 342 miles range. Its PHEV comes with a 13 kWh battery and a 2.0 L gasoline engine and 180 kWh electric motor.
  • In March 2020, BMW launched the 2nd generation 330e and 330e xDrive in the North American market. The vehicle comes with a 12 kWh battery and an all-electric range of 20-22 miles.
  • In November 2019, BYD launched its e3 electric sedan in China. It comes with two battery options, 35.2 kWh and 47.3 kWh and a single 70 kW electric motor. The vehicle has a range of around 252 miles.
  • In May 2019, Hyundai group showcased its new Ioniq electric version with an increased battery of 38.3 kWh (from 28kWh) and a larger range.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 24)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
           1.2.1 INCLUSIONS & EXCLUSIONS
                 TABLE 1 INCLUSIONS & EXCLUSIONS FOR THE ELECTRIC VEHICLE MARKET
    1.3 MARKET SCOPE
        FIGURE 1 ELECTRIC VEHICLE MARKET: MARKETS COVERED
           1.3.1 YEARS CONSIDERED FOR THE STUDY
    1.4 PACKAGE SIZE
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 30)
    2.1 RESEARCH DATA
        FIGURE 2 RESEARCH DESIGN
        FIGURE 3 RESEARCH METHODOLOGY MODEL
           2.1.1 SECONDARY DATA
                    2.1.1.1 List of key secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                 FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, & REGION
                    2.1.2.1 List of primary participants
    2.2 MARKET ESTIMATION METHODOLOGY
        FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
    2.3 MARKET SIZE ESTIMATION
           2.3.1 BOTTOM-UP APPROACH
                 FIGURE 6 GLOBAL ELECTRIC VEHICLE MARKET SIZE: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                 FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY FOR ELECTRIC VEHICLE MARKET: TOP-DOWN APPROACH
                 FIGURE 8 ELECTRIC VEHICLE MARKET: RESEARCH DESIGN & METHODOLOGY
                 FIGURE 9 RESEARCH APPROACH: ELECTRIC VEHICLE MARKET
                 FIGURE 10 ELECTRIC VEHICLE MARKET: RESEARCH DESIGN & METHODOLOGY – DEMAND SIDE
           2.3.3 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES
    2.4 DATA TRIANGULATION
        FIGURE 11 DATA TRIANGULATION
    2.5 FACTOR ANALYSIS
    2.6 RESEARCH ASSUMPTIONS
    2.7 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 45)
  FIGURE 12 ELECTRIC VEHICLE MARKET: MARKET DYNAMICS
  FIGURE 13 ELECTRIC VEHICLE MARKET, BY REGION, 2021–2030 (THOUSAND UNITS)
  FIGURE 14 LITHIUM ION PRICE
  FIGURE 15 POTENTIAL BATTERY-CELL COST REDUCTIONS
  FIGURE 16 THE FCEV SEGMENT IS PROJECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD (2021–2030)
  FIGURE 17 GROWING ELECTRIC & AUTONOMOUS MOBILITY TRENDS WOULD CREATE A SHIFT IN REVENUE MIX IN COMING YEARS
  FIGURE 18 COVID-19 IMPACT ON ELECTRIC VEHICLE MARKET, 2017–2030

4 PREMIUM INSIGHTS (Page No. - 51)
    4.1 ATTRACTIVE OPPORTUNITIES IN THE ELECTRIC VEHICLE MARKET
        FIGURE 19 INCREASING DEMAND FOR ZERO-EMISSION COMMUTING TO DRIVE THE MARKET
    4.2 ELECTRIC VEHICLE MARKET GROWTH RATE, BY REGION
        FIGURE 20 ASIA PACIFIC ESTIMATED TO ACCOUNT FOR THE LARGEST SHARE OF THE MARKET IN 2021
    4.3 ELECTRIC VEHICLE MARKET, BY CHARGING POINT TYPE
        FIGURE 21 SUPER CHARGING SEGMENT TO GROW AT A HIGHER CAGR (2021–2027)
    4.4 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE
        FIGURE 22 PASSENGER CAR SEGMENT PROJECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD (2021–2030)
    4.5 ELECTRIC VEHICLE MARKET, BY VEHICLE CLASS
        FIGURE 23 MID-PRICED SEGMENT TO ACCOUNT FOR A LARGER MARKET SHARE DURING THE FORECAST PERIOD (2021–2030)
    4.6 ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE
        FIGURE 24 FCEV SEGMENT PROJECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD (2021–2030)
    4.7 ELECTRIC VEHICLE MARKET, BY VEHICLE TOP SPEED
        FIGURE 25 >125 MPH SEGMENT IS PROJECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD (2021–2030)
    4.8 ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE
        FIGURE 26 REAR WHEEL DRIVE SEGMENT IS PROJECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD (2021–2030)

5 MARKET OVERVIEW (Page No. - 56)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
        FIGURE 27 ELECTRIC VEHICLE MARKET: MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Reducing prices of EV batteries
                            FIGURE 28 EV BATTERY PRICING ANALYSIS
                    5.2.1.2 Faster EV charging
                            TABLE 2 TIME REQUIRED TO CHARGE ELECTRIC VEHICLE
                    5.2.1.3 Rising prices of petroleum
                            TABLE 3 AVERAGE PETROL PRICES IN THE US (2016-2020)
                            FIGURE 29 OIL CONSUMPTION AROUND THE WORLD DURING THE PAST TEN YEARS
                    5.2.1.4 Lower operating cost
                            FIGURE 30 COMPARISON OF THE OPERATING COST OF EVS AND ICE VEHICLES
                    5.2.1.5 Lower emissions from EVs
                            FIGURE 31 COMPARISON OF EMISSIONS OF EVS AND GASOLINE VEHICLES
           5.2.2 RESTRAINTS
                    5.2.2.1 High initial investments for installing EV fast charging infrastructure
                            FIGURE 32 FUEL STATION AVERAGE PRICE COMPARISON FOR DIFFERENT FUELS
                    5.2.2.2 Lack of sufficient EV charging infrastructure
                            FIGURE 33 COUNTRY-WISE COMPARISON OF EV CHARGER DENSITY
                    5.2.2.3 Longer charging time compared to other fuels
                            FIGURE 34 CHARGING TIME REQUIRED TO CHARGE USING DIFFERENT CHARGING POINT TYPES
                    5.2.2.4 Lower vehicle range
                            FIGURE 35 TOP EV MODEL RANGE AND BASE PRICE IN THE US
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Rising demand for electric vehicles in the automotive and transportation sectors
                    5.2.3.2 Government initiatives pertaining to EVs
                    5.2.3.3 Development of private and semi-public EV charging
                            FIGURE 36 PRIVATE, SEMI-PUBLIC, AND PUBLIC CHARGING
                    5.2.3.4 Development of wireless EV charging technology for on-the-go charging
           5.2.4 CHALLENGES
                    5.2.4.1 High cost of vehicles
                            FIGURE 37 COST COMPARISON OF EV AND ICE VEHICLE
                    5.2.4.2 Insufficient standardization of EV charging infrastructure
                            FIGURE 38 EV CHARGERS USED AROUND THE WORLD
                            TABLE 4 ELECTRIC VEHICLE MARKET: IMPACT OF MARKET DYNAMICS
    5.3 PORTER’S FIVE FORCES
        FIGURE 39 PORTER’S FIVE FORCES: ELECTRIC VEHICLE MARKET
        TABLE 5 ELECTRIC VEHICLE MARKET: IMPACT OF PORTERS FIVE FORCES
           5.3.1 THREAT OF SUBSTITUTES
           5.3.2 THREAT OF NEW ENTRANTS
           5.3.3 BARGAINING POWER OF BUYERS
           5.3.4 BARGAINING POWER OF SUPPLIERS
           5.3.5 RIVALRY AMONG EXISTING COMPETITORS
    5.4 UPCOMING ELECTRIC VEHICLE MODELS, 2021-2025
        TABLE 6 UPCOMING ELECTRIC VEHICLE MODELS, 2021–2025
    5.5 TOP SELLING EV MODEL SALES IN 2020 (WORLDWIDE IN THOUSANDS)
        FIGURE 40 TOP SELLING EVS IN 2020 WORLDWIDE
    5.6 EUROPE EV SALES (2019 & 2020)
        TABLE 7 EV SALES DATA (THOUSANDS)
    5.7 ELECTRIC VEHICLE MARKET ECOSYSTEM
        FIGURE 41 ELECTRIC VEHICLE MARKET: ECOSYSTEM ANALYSIS
        FIGURE 42 ELECTRIC VEHICLE NEURAL NETWORK
           5.7.1 EV CHARGING PROVIDERS
           5.7.2 TIER I SUPPLIERS
           5.7.3 OEMS
           5.7.4 END USERS
                 TABLE 8 ELECTRIC VEHICLE MARKET: ROLE OF COMPANIES IN THE ECOSYSTEM
    5.8 VALUE CHAIN ANALYSIS
        FIGURE 43 VALUE CHAIN ANALYSIS OF THE ELECTRIC VEHICLE MARKET
    5.9 ELECTRIC VEHICLE PRICING ANALYSIS
        TABLE 9 ELECTRIC VEHICLE MARKET: PRICING OF POPULAR BEVS (US)
        TABLE 10 ELECTRIC VEHICLE MARKET: PRICING OF POPULAR PHEVS (US)
    5.10 TECHNOLOGY ANALYSIS
           5.10.1 V2X CHARGING
           5.10.2 SMART CHARGING SYSTEM
                  FIGURE 44 SMART EV CHARGING SYSTEM
           5.10.3 SOLID-STATE BATTERY (SSB)
           5.10.4 IOT IN ELECTRIC VEHICLES
    5.11 PATENT ANALYSIS
    5.12 CASE STUDY
           5.12.1 NISSAN LEAF IN DURHAM COUNTY, NORTH CAROLINA
    5.13 REGULATORY OVERVIEW
           5.13.1 NETHERLANDS
                 TABLE 11 NETHERLANDS: INCENTIVES FOR ELECTRIC VEHICLES
                 TABLE 12 NETHERLANDS: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
           5.13.2 GERMANY
                 TABLE 13 GERMANY: ELECTRIC VEHICLE INCENTIVES
                 TABLE 14 GERMANY: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
           5.13.3 FRANCE
                 TABLE 15 FRANCE: ELECTRIC VEHICLE INCENTIVES
                 TABLE 16 FRANCE: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
           5.13.4 UK
                 TABLE 17 UK: ELECTRIC VEHICLE INCENTIVES
                 TABLE 18 UK: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
           5.13.5 CHINA
                 TABLE 19 CHINA: ELECTRIC VEHICLE INCENTIVES
                 TABLE 20 CHINA: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
           5.13.6 US
                 TABLE 21 US: ELECTRIC VEHICLE INCENTIVES
                 TABLE 22 US: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
    5.14 COVID-19 IMPACT ANALYSIS
           5.14.1 IMPACT OF COVID-19 ON ELECTRIC VEHICLE PRODUCTION
    5.15 ELECTRIC VEHICLE MARKET, SCENARIOS (2021–2030)
           5.15.1 ELECTRIC VEHICLE MARKET, MOST LIKELY SCENARIO
                  FIGURE 45 ELECTRIC VEHICLE MARKET – FUTURE TRENDS & SCENARIOS, 2021–2030 (THOUSAND UNITS)
                  FIGURE 46 SCENARIO ANALYSIS
           5.15.2 ELECTRIC VEHICLE MARKET, OPTIMISTIC SCENARIO
                  TABLE 23 ELECTRIC VEHICLE MARKET (OPTIMISTIC), BY REGION, 2021–2030 (THOUSAND UNITS)
           5.15.3 ELECTRIC VEHICLE MARKET, PESSIMISTIC SCENARIO
                  TABLE 24 ELECTRIC VEHICLE MARKET (PESSIMISTIC), BY REGION, 2021–2030 (THOUSAND UNITS)

6 ELECTRIC VEHICLE MARKET, BY CHARGING POINT TYPE (Page No. - 100)
    6.1 INTRODUCTION
        FIGURE 47 SUPER CHARGING SEGMENT IS PROJECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD (2021–2027)
        TABLE 25 ELECTRIC VEHICLE MARKET, BY CHARGING POINT TYPE, 2017–2020 (THOUSAND UNITS)
        TABLE 26 ELECTRIC VEHICLE MARKET, BY CHARGING POINT TYPE, 2021–2027 (THOUSAND UNITS)
    6.2 OPERATIONAL DATA
        TABLE 27 POPULAR EV CHARGING PROVIDERS ACROSS THE WORLD
           6.2.1 ASSUMPTIONS
                 TABLE 28 ASSUMPTIONS: BY CHARGING POINT TYPE
    6.3 RESEARCH METHODOLOGY
    6.4 NORMAL CHARGING
           6.4.1 INCREASED ADOPTION OF ELECTRIC VEHICLES EXPECTED TO BOOST DEMAND
                 TABLE 29 NORMAL CHARGING: ELECTRIC VEHICLE MARKET, BY REGION, 2017–2020 (THOUSAND UNITS)
                 TABLE 30 NORMAL CHARGING: ELECTRIC VEHICLE MARKET, BY REGION, 2021–2027 (THOUSAND UNITS)
    6.5 SUPER CHARGING
           6.5.1 DEMAND FOR FAST CHARGING POINTS EXPECTED TO BOOST THE DEMAND FOR SUPER CHARGING
                 TABLE 31 SUPER CHARGING: ELECTRIC VEHICLE MARKET, BY REGION, 2017–2020 (THOUSAND UNITS)
                 TABLE 32 SUPER CHARGING: ELECTRIC VEHICLE MARKET, BY REGION, 2021–2027 (THOUSAND UNITS)
    6.6 INDUCTIVE CHARGING
    6.7 KEY PRIMARY INSIGHTS
        FIGURE 48 KEY PRIMARY INSIGHTS

7 ELECTRIC VEHICLE MARKET, BY COMPONENT (Page No. - 109)
    7.1 INTRODUCTION
    7.2 BATTERY CELLS AND PACKS
    7.3 ONBOARD CHARGER
    7.4 MOTOR
    7.5 REDUCER
    7.6 POWER CONTROL UNIT
    7.7 BATTERY MANAGEMENT SYSTEM
    7.8 FUEL CELL STACK
    7.9 FUEL PROCESSOR
    7.10 POWER CONDITIONER
    7.11 AIR COMPRESSOR
    7.12 HUMIDIFIER

8 ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE (Page No. - 113)
    8.1 INTRODUCTION
        TABLE 33 ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS)
        TABLE 34 ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS)
        FIGURE 49 FCEV SEGMENT IS PROJECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD (2021–2030)
    8.2 OPERATIONAL DATA
        TABLE 35 EVS ACROSS THE WORLD
           8.2.1 ASSUMPTIONS
                 TABLE 36 ASSUMPTIONS: BY PROPULSION TYPE
    8.3 RESEARCH METHODOLOGY
    8.4 BATTERY ELECTRIC VEHICLE (BEV)
           8.4.1 INCREASE IN VEHICLE RANGE PER CHARGE EXPECTED TO BOOST DEMAND
                 TABLE 37 BEV: ELECTRIC VEHICLE MARKET, BY REGION, 2017–2020 (THOUSAND UNITS)
                 TABLE 38 BEV: ELECTRIC VEHICLE MARKET, BY REGION, 2021–2030 (THOUSAND UNITS)
    8.5 FUEL CELL ELECTRIC VEHICLE (FCEV)
           8.5.1 DEMAND FOR ZERO EMISSION VEHICLES WILL UPLIFT THE MARKET
                 TABLE 39 FCEV: ELECTRIC VEHICLE MARKET, BY REGION, 2017–2020 (THOUSAND UNITS)
                 TABLE 40 FCEV: ELECTRIC VEHICLE MARKET, BY REGION, 2021–2030 (THOUSAND UNITS)
    8.6 PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV)
           8.6.1 GOVERNMENT PROVISION OF TAX BENEFITS AND INCENTIVES EXPECTED TO BOOST DEMAND
                 TABLE 41 PHEV: ELECTRIC VEHICLE MARKET, BY REGION, 2017–2020 (THOUSAND UNITS)
                 TABLE 42 PHEV: ELECTRIC VEHICLE MARKET, BY REGION, 2021–2030 (THOUSAND UNITS)
    8.7 HYBRID ELECTRIC VEHICLE (HEV)
    8.8 KEY PRIMARY INSIGHTS

9 ELECTRIC VEHICLE MARKET, BY VEHICLE CLASS (Page No. - 123)
    9.1 INTRODUCTION
        TABLE 43 ELECTRIC VEHICLE MARKET SIZE, BY VEHICLE CLASS, 2017–2020 (THOUSAND UNITS)
        TABLE 44 ELECTRIC VEHICLE MARKET SIZE, BY VEHICLE CLASS, 2021–2030 (THOUSAND UNITS)
        FIGURE 50 LUXURY SEGMENT IS PROJECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD (2021–2030)
    9.2 OPERATIONAL DATA
        TABLE 45 POPULAR EVS ACROSS THE WORLD
           9.2.1 ASSUMPTIONS
                 TABLE 46 ASSUMPTIONS: BY VEHICLE CLASS TYPE
    9.3 RESEARCH METHODOLOGY
    9.4 MID-PRICED
           9.4.1 DECREASE IN BATTERY PRICE EXPECTED TO BOOST DEMAND
                 TABLE 47 MID-PRICED: ELECTRIC VEHICLE MARKET SIZE, BY REGION, 2017–2020 (THOUSAND UNITS)
                 TABLE 48 MID-PRICED: ELECTRIC VEHICLE MARKET SIZE, BY REGION, 2021–2030 (THOUSAND UNITS)
    9.5 LUXURY
           9.5.1 DEMAND FOR HIGH END TECHNOLOGY EXPECTED TO BOOST DEMAND
                 TABLE 49 LUXURY: ELECTRIC VEHICLE MARKET SIZE, BY REGION, 2017–2020 (THOUSAND UNITS)
                 TABLE 50 LUXURY: ELECTRIC VEHICLE MARKET SIZE, BY REGION, 2021–2030 (THOUSAND UNITS)
    9.6 KEY PRIMARY INSIGHTS

10 ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE (Page No. - 130)
     10.1 INTRODUCTION
          TABLE 51 ELECTRIC VEHICLE MARKET SIZE, BY VEHICLE DRIVE TYPE, 2017–2020 (THOUSAND UNITS)
          TABLE 52 ELECTRIC VEHICLE MARKET SIZE, BY VEHICLE DRIVE TYPE, 2021–2030 (THOUSAND UNITS)
          FIGURE 51 REAR WHEEL DRIVE SEGMENT IS PROJECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD (2019–2030)
     10.2 OPERATIONAL DATA
          TABLE 53 POPULAR BEVS ACROSS THE WORLD
          TABLE 54 POPULAR PHEVS ACROSS THE WORLD
             10.2.1 ASSUMPTIONS
                    TABLE 55 ASSUMPTIONS: BY VEHICLE DRIVE TYPE
     10.3 RESEARCH METHODOLOGY
     10.4 FRONT WHEEL DRIVE (FWD)
          TABLE 56 FRONT WHEEL DRIVE: ELECTRIC VEHICLE MARKET SIZE, BY REGION, 2017–2020 (THOUSAND UNITS)
          TABLE 57 FRONT WHEEL DRIVE: ELECTRIC VEHICLE MARKET SIZE, BY REGION, 2021–2030 (THOUSAND UNITS)
     10.5 REAR WHEEL DRIVE (RWD)
          TABLE 58 REAR WHEEL DRIVE: ELECTRIC VEHICLE MARKET SIZE, BY REGION, 2017–2020 (THOUSAND UNITS)
          TABLE 59 REAR WHEEL DRIVE: ELECTRIC VEHICLE MARKET SIZE, BY REGION, 2021–2030 (THOUSAND UNITS)
     10.6 ALL WHEEL DRIVE (AWD)
          TABLE 60 ALL WHEEL DRIVE: ELECTRIC VEHICLE MARKET SIZE, BY REGION, 2017–2020 (THOUSAND UNITS)
          TABLE 61 ALL WHEEL DRIVE: ELECTRIC VEHICLE MARKET SIZE, BY REGION, 2021–2030 (THOUSAND UNITS)
     10.7 KEY PRIMARY INSIGHTS

11 ELECTRIC VEHICLE MARKET, BY VEHICLE TOP SPEED (Page No. - 141)
     11.1 INTRODUCTION
          TABLE 62 ELECTRIC VEHICLE MARKET SIZE, BY VEHICLE TOP SPEED, 2017–2020 (THOUSAND UNITS)
          TABLE 63 ELECTRIC VEHICLE MARKET SIZE, BY VEHICLE TOP SPEED, 2021–2030 (THOUSAND UNITS)
          FIGURE 52 >125 MPH SEGMENT IS PROJECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD (2021–2030)
     11.2 OPERATIONAL DATA
          TABLE 64 POPULAR AND UPCOMING EVS ACROSS THE WORLD
             11.2.1 ASSUMPTIONS
                    TABLE 65 ASSUMPTIONS: BY VEHICLE TOP SPEED
     11.3 RESEARCH METHODOLOGY
     11.4 <125 MPH
             11.4.1 DECREASE IN EV PRICE EXPECTED TO BOOST DEMAND
                    TABLE 66 <125 MPH: ELECTRIC VEHICLE MARKET SIZE, BY REGION, 2017–2020 (THOUSAND UNITS)
                    TABLE 67 <125 MPH: ELECTRIC VEHICLE MARKET SIZE, BY REGION, 2021–2030 (THOUSAND UNITS)
     11.5 >125 MPH
             11.5.1 DEMAND FOR HIGH END VEHICLE EXPECTED TO BOOST DEMAND
                    TABLE 68 >125 MPH: ELECTRIC VEHICLE MARKET SIZE, BY REGION, 2017–2020 (THOUSAND UNITS)
                    TABLE 69 >125 MPH: ELECTRIC VEHICLE MARKET SIZE, BY REGION, 2021–2030 (THOUSAND UNITS)
     11.6 KEY PRIMARY INSIGHTS

12 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE (Page No. - 149)
     12.1 INTRODUCTION
          TABLE 70 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2017–2020 (THOUSAND UNITS)
          TABLE 71 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2021–2030 (THOUSAND UNITS)
          FIGURE 53 COMMERCIAL VEHICLE SEGMENT IS PROJECTED TO GROW AT THE HIGHER CAGR DURING THE FORECAST PERIOD (2021–2030)
     12.2 OPERATIONAL DATA
          TABLE 72 POPULAR EVS GLOBALLY
             12.2.1 ASSUMPTIONS
                    TABLE 73 ASSUMPTIONS: BY VEHICLE TYPE
     12.3 RESEARCH METHODOLOGY
     12.4 PASSENGER CAR (PC)
             12.4.1 GROWING EMISSION NORMS WILL BOOST THE DEMAND
                    TABLE 74 PASSENGER CAR: ELECTRIC VEHICLE MARKET, BY REGION, 2017–2020 (THOUSAND UNITS)
                    TABLE 75 PASSENGER CAR: ELECTRIC VEHICLE MARKET, BY REGION, 2021–2030 (THOUSAND UNITS)
     12.5 COMMERCIAL VEHICLES (CV)
             12.5.1 GROWTH OF E-COMMERCE AND LOGISTICS EXPECTED TO BOOST DEMAND
                    TABLE 76 COMMERCIAL VEHICLES: ELECTRIC VEHICLE MARKET, BY REGION, 2017–2020 (THOUSAND UNITS)
                    TABLE 77 COMMERCIAL VEHICLES: ELECTRIC VEHICLE MARKET, BY REGION, 2021–2030 (THOUSAND UNITS)
     12.6 KEY PRIMARY INSIGHTS

13 ELECTRIC VEHICLE MARKET, BY V2G (Page No. - 156)
     13.1 INTRODUCTION
          TABLE 78 ELECTRIC VEHICLE MARKET, BY V2G, 2017–2020 (THOUSAND UNITS)
          TABLE 79 ELECTRIC VEHICLE MARKET, BY V2G, 2021–2027 (THOUSAND UNITS)
          TABLE 80 ELECTRIC VEHICLE MARKET, BY V2G, 2017–2020 (USD MILLION)
          TABLE 81 ELECTRIC VEHICLE MARKET, BY V2G, 2021–2027 (USD MILLION)
     13.2 V2B OR V2H
     13.3 V2G
     13.4 V2V
     13.5 V2X

14 ELECTRIC VEHICLE MARKET, BY REGION (Page No. - 158)
     14.1 INTRODUCTION
          FIGURE 54 ASIA PACIFIC IS PROJECTED TO BE THE LARGEST MARKET FOR ELECTRIC VEHICLES DURING THE FORECAST PERIOD (2021–2030)
          TABLE 82 ELECTRIC VEHICLE MARKET, BY REGION, 2017–2020 (THOUSAND UNITS)
          TABLE 83 ELECTRIC VEHICLE MARKET, BY REGION, 2021–2030 (THOUSAND UNITS)
     14.2 ASIA PACIFIC
          FIGURE 55 ASIA PACIFIC: PASSENGER CAR ELECTRIC VEHICLE MARKET SNAPSHOT, 2021-2030
          TABLE 84 ASIA PACIFIC: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY, 2017–2020 (THOUSAND UNITS)
          TABLE 85 ASIA PACIFIC: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY, 2021–2030 (THOUSAND UNITS)
             14.2.1 CHINA
                        14.2.1.1 Increased investments in charging infrastructure expected to lead to market growth
                                 TABLE 86 CHINA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS)
                                 TABLE 87 CHINA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS)
             14.2.2 INDIA
                        14.2.2.1 ABB setup of electric vehicle charger facilities expected to boost demand
                                 TABLE 88 INDIA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS)
                                 TABLE 89 INDIA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS)
             14.2.3 JAPAN
                        14.2.3.1 Advancements in battery technology to boost demand
                                 TABLE 90 JAPAN: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS)
                                 TABLE 91 JAPAN: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS)
             14.2.4 SOUTH KOREA
                        14.2.4.1 Increased investments in electric vehicles to boost demand
                                 TABLE 92 SOUTH KOREA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS)
                                 TABLE 93 SOUTH KOREA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS)
     14.3 EUROPE
          FIGURE 56 EUROPE: GERMANY EXPECTED TO LEAD EV SALES DURING 2021-2030
          TABLE 94 EUROPE: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY, 2017–2020 (THOUSAND UNITS)
          TABLE 95 EUROPE: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY, 2021–2030 (THOUSAND UNITS)
             14.3.1 FRANCE
                        14.3.1.1 Government offering purchase grants to boost demand
                                 TABLE 96 FRANCE: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS)
                                 TABLE 97 FRANCE: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS)
             14.3.2 GERMANY
                        14.3.2.1 Rising sales of hybrid vehicles by domestic players to boost demand
                                 TABLE 98 GERMANY: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS)
                                 TABLE 99 GERMANY: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS)
             14.3.3 NETHERLANDS
                        14.3.3.1 Government focus towards greener vehicles to boost demand
                                 TABLE 100 NETHERLANDS: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS)
                                 TABLE 101 NETHERLANDS: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS)
             14.3.4 NORWAY
                        14.3.4.1 Emergence of e-mobility to boost demand
                                 TABLE 102 NORWAY: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS)
                                 TABLE 103 NORWAY: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS)
             14.3.5 SWEDEN
                        14.3.5.1 Strong existing charging infrastructure to boost demand
                                 TABLE 104 SWEDEN: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS)
                                 TABLE 105 SWEDEN: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS)
             14.3.6 UK
                        14.3.6.1 Country’s investment in ultra-low emission vehicles to boost demand
                                 TABLE 106 UK: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS)
                                 TABLE 107 UK: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS)
             14.3.7 DENMARK
                        14.3.7.1 Government promotion of private infrastructure to boost demand
                                 TABLE 108 DENMARK: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS)
                                 TABLE 109 DENMARK: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS)
             14.3.8 AUSTRIA
                        14.3.8.1 Move towards cleaner vehicles to boost demand
                                 TABLE 110 AUSTRIA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS)
                                 TABLE 111 AUSTRIA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS)
             14.3.9 SWITZERLAND
                        14.3.9.1 Country focus towards expansion of electric vehicle charging infrastructure
                                 TABLE 112 SWITZERLAND: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS)
                                 TABLE 113 SWITZERLAND: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS)
             14.3.10 SPAIN
                        14.3.10.1 Increasing investments in FCEVs to uplift the market
                                 TABLE 114 SPAIN: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS)
                                 TABLE 115 SPAIN: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS)
     14.4 NORTH AMERICA
          FIGURE 57 NORTH AMERICA: PASSENGER CAR ELECTRIC VEHICLE MARKET SNAPSHOT
          TABLE 116 NORTH AMERICA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY, 2017–2020 (THOUSAND UNITS)
          TABLE 117 NORTH AMERICA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY, 2021–2030 (THOUSAND UNITS)
             14.4.1 CANADA
                        14.4.1.1 Increasing development in electric vehicle infrastructure to boost demand
                                 TABLE 118 CANADA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS)
                                 TABLE 119 CANADA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS)
             14.4.2 US
                        14.4.2.1 Increasing production capacity of electric vehicles to uplift the market
                                 TABLE 120 US: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS)
                                 TABLE 121 US: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS)
     14.5 MIDDLE EAST & AFRICA
          FIGURE 58 EGYPT TO BE THE FASTEST-GROWING MARKET IN THE MEA REGION
          TABLE 122 MIDDLE EAST & AFRICA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY, 2017–2020 (UNITS)
          TABLE 123 MIDDLE EAST & AFRICA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY, 2021–2030 (UNITS)
             14.5.1 UAE
                        14.5.1.1 Government support to increase EV demand in the market
                                 TABLE 124 UAE: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (UNITS)
                                 TABLE 125 UAE: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (UNITS)
             14.5.2 EGYPT
                        14.5.2.1 Increasing development in electric vehicle infrastructure to boost demand
                                 TABLE 126 EGYPT: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (UNITS)
                                 TABLE 127 EGYPT: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (UNITS)
             14.5.3 SOUTH AFRICA
                        14.5.3.1 Increasing EV imports and popularization of EV charging stations to increase market
                                 TABLE 128 SOUTH AFRICA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (UNITS)
                                 TABLE 129 SOUTH AFRICA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (UNITS)

15 COMPETITIVE LANDSCAPE (Page No. - 190)
     15.1 OVERVIEW
     15.2 MARKET SHARE ANALYSIS OF THE ELECTRIC VEHICLE MARKET
          TABLE 130 MARKET SHARE ANALYSIS, 2018–2021
          FIGURE 59 MARKET SHARE ANALYSIS
          FIGURE 60 REVENUE ANALYSIS FOR THE TOP FIVE COMPANIES, 2020
     15.3 COMPETITIVE SCENARIO
             15.3.1 DEALS
                    TABLE 131 DEALS, 2018–2021
             15.3.2 NEW PRODUCT DEVELOPMENTS
                    TABLE 132 NEW PRODUCT DEVELOPMENTS, 2018–2021
             15.3.3 OTHERS, 2018–2021
                    TABLE 133 EXPANSIONS, 2018–2021
     15.4 COMPETITIVE LEADERSHIP MAPPING FOR THE ELECTRIC VEHICLE MARKET
             15.4.1 STARS
             15.4.2 EMERGING LEADERS
             15.4.3 PERVASIVE
             15.4.4 EMERGING COMPANIES
                    FIGURE 61 ELECTRIC VEHICLE MARKET: COMPETITIVE LEADERSHIP MAPPING FOR TOP ELECTRIC VEHICLE MANUFACTURERS, 2021
                    TABLE 134 ELECTRIC VEHICLE MARKET: COMPANY FOOTPRINT FOR TOP EV MANUFACTURERS, 2021
                    TABLE 135 ELECTRIC VEHICLE MARKET: COMPANY APPLICATION FOOTPRINT FOR TOP EV MANUFACTURERS, 2021
                    TABLE 136 ELECTRIC VEHICLE MARKET: REGIONAL FOOTPRINT FOR EV MANUFACTURERS, 2021
                    FIGURE 62 ELECTRIC VEHICLE MARKET: COMPETITIVE LEADERSHIP MAPPING FOR NEW PLAYERS, 2021
     15.5 RIGHT TO WIN, 2018-2021
          TABLE 137 RIGHT TO WIN, 2018-2021

16 COMPANY PROFILES (Page No. - 217)
     16.1 KEY PLAYERS
(Business overview, Products offered, Recent Developments, SWOT analysis, MNM view)*
             16.1.1 TESLA
                    TABLE 138 TESLA: BUSINESS OVERVIEW
                    FIGURE 63 TESLA: COMPANY SNAPSHOT
                    TABLE 139 TESLA: PRODUCTS OFFERED
                    TABLE 140 TESLA: NEW PRODUCT DEVELOPMENTS
                    TABLE 141 TESLA: DEALS
                    TABLE 142 TESLA: OTHERS
             16.1.2 BYD
                    TABLE 143 BYD: BUSINESS OVERVIEW
                    FIGURE 64 BYD: COMPANY SNAPSHOT
                    TABLE 144 BYD: PRODUCTS OFFERED
                    TABLE 145 BYD: NEW PRODUCT DEVELOPMENTS
                    TABLE 146 BYD: DEALS
                    TABLE 147 BYD: OTHERS
             16.1.3 VOLKSWAGEN AG
                    TABLE 148 VOLKSWAGEN AG: BUSINESS OVERVIEW
                    FIGURE 65 VOLKSWAGEN AG: COMPANY SNAPSHOT
                    TABLE 149 VOLKSWAGEN AG: PRODUCTS OFFERED
                    TABLE 150 VOLKSWAGEN AG: NEW PRODUCT DEVELOPMENTS
                    TABLE 151 VOLKSWAGEN AG: DEALS
                    TABLE 152 VOLKSWAGEN AG: OTHERS
             16.1.4 BMW GROUP
                    TABLE 153 BMW GROUP: BUSINESS OVERVIEW
                    FIGURE 66 BMW GROUP: COMPANY SNAPSHOT
                    TABLE 154 BMW GROUP: PRODUCTS OFFERED
                    TABLE 155 BMW GROUP: NEW PRODUCT DEVELOPMENTS
                    TABLE 156 BMW GROUP: DEALS
             16.1.5 NISSAN MOTORS
                    TABLE 157 NISSAN MOTORS: BUSINESS OVERVIEW
                    FIGURE 67 NISSAN MOTORS: COMPANY SNAPSHOT
                    TABLE 158 NISSAN MOTORS: PRODUCTS OFFERED
                    TABLE 159 NISSAN MOTORS: NEW PRODUCT DEVELOPMENTS
                    TABLE 160 NISSAN MOTORS: DEALS
                    TABLE 161 NISSAN MOTORS: OTHERS
             16.1.6 TOYOTA MOTOR CORPORATION
                    TABLE 162 TOYOTA MOTOR CORPORATION: BUSINESS OVERVIEW
                    FIGURE 68 TOYOTA MOTOR CORPORATION: COMPANY SNAPSHOT
                    TABLE 163 TOYOTA MOTOR CORPORATION: PRODUCTS OFFERED
                    TABLE 164 TOYOTA MOTOR CORPORATION: NEW PRODUCT DEVELOPMENTS
                    TABLE 165 TOYOTA MOTOR CORPORATION: DEALS
             16.1.7 FORD MOTOR COMPANY
                    TABLE 166 FORD MOTOR COMPANY: BUSINESS OVERVIEW
                    FIGURE 69 FORD MOTOR COMPANY: COMPANY SNAPSHOT
                    TABLE 167 FORD MOTOR COMPANY: PRODUCTS OFFERED
                    TABLE 168 FORD MOTOR COMPANY: NEW PRODUCT DEVELOPMENTS
                    TABLE 169 FORD MOTOR COMPANY: DEALS
                    TABLE 170 FORD MOTOR COMPANY: OTHERS
             16.1.8 AB VOLVO
                    TABLE 171 AB VOLVO: BUSINESS OVERVIEW
                    FIGURE 70 AB VOLVO: COMPANY SNAPSHOT
                    TABLE 172 AB VOLVO: PRODUCTS OFFERED
                    TABLE 173 AB VOLVO: NEW PRODUCT DEVELOPMENTS
                    TABLE 174 AB VOLVO: DEALS
                    TABLE 175 AB VOLVO: OTHERS
             16.1.9 SAIC MOTORS
                    TABLE 176 SAIC MOTORS: BUSINESS OVERVIEW
                    FIGURE 71 SAIC MOTORS: COMPANY SNAPSHOT
                    TABLE 177 SAIC MOTORS: PRODUCTS OFFERED
                    TABLE 178 SAIC MOTORS: NEW PRODUCT DEVELOPMENTS
                    TABLE 179 SAIC MOTORS: DEALS
             16.1.10 HYUNDAI GROUP
                     TABLE 180 HYUNDAI GROUP: BUSINESS OVERVIEW
                     FIGURE 72 HYUNDAI GROUP: COMPANY SNAPSHOT
                     TABLE 181 HYUNDAI GROUP: PRODUCTS OFFERED
                     TABLE 182 HYUNDAI GROUP: NEW PRODUCT DEVELOPMENTS
                     TABLE 183 HYUNDAI GROUP: DEALS
             16.1.11 HONDA MOTORS
                     TABLE 184 HONDA MOTORS: BUSINESS OVERVIEW
                     FIGURE 73 HONDA MOTORS: COMPANY SNAPSHOT
                     TABLE 185 HONDA MOTORS: PRODUCTS OFFERED
                     TABLE 186 HONDA MOTORS: NEW PRODUCT DEVELOPMENTS
                     TABLE 187 HONDA MOTORS: DEALS
             16.1.12 DAIMLER AG
                     TABLE 188 DAIMLER AG: BUSINESS OVERVIEW
                     FIGURE 74 DAIMLER AG: COMPANY SNAPSHOT
                     TABLE 189 DAIMLER AG: PRODUCTS OFFERED
                     TABLE 190 DAIMLER AG: NEW PRODUCT DEVELOPMENTS
                     TABLE 191 DAIMLER AG: DEALS
*Details on Business overview, Products offered, Recent Developments, SWOT analysis, MNM view might not be captured in case of unlisted companies.
     16.2 OTHER PLAYERS
             16.2.1 GENERAL MOTORS
                     TABLE 192 GENERAL MOTORS: BUSINESS OVERVIEW
             16.2.2 RIVIAN
                     TABLE 193 RIVIAN: BUSINESS OVERVIEW
             16.2.3 FARADAY FUTURE
                     TABLE 194 FARADAY FUTURE: BUSINESS OVERVIEW
             16.2.4 FISKER
                     TABLE 195 FISKER: BUSINESS OVERVIEW
             16.2.5 LUCID MOTORS
                     TABLE 196 LUCID MOTORS: BUSINESS OVERVIEW
             16.2.6 NIKOLA CORPORATION
                     TABLE 197 NIKOLA CORPORATION: BUSINESS OVERVIEW
             16.2.7 ALCRAFT MOTOR COMPANY
                     TABLE 198 ALCRAFT MOTOR COMPANY: BUSINESS OVERVIEW
             16.2.8 RENAULT GROUP
                     TABLE 199 RENAULT GROUP: BUSINESS OVERVIEW
             16.2.9 STELLANTIS N.V.
                     TABLE 200 STELLANTIS N.V.: BUSINESS OVERVIEW
             16.2.10 KIA MOTORS
                     TABLE 201 KIA MOTORS: BUSINESS OVERVIEW
             16.2.11 BAIC MOTORS
                     TABLE 202 BAIC MOTORS: BUSINESS OVERVIEW
             16.2.12 MITSUBISHI MOTORS
                     TABLE 203 MITSUBISHI MOTORS: BUSINESS OVERVIEW
             16.2.13 BYTON
                     TABLE 204 BYTON: BUSINESS OVERVIEW
             16.2.14 CHERY
                     TABLE 205 CHERY: BUSINESS OVERVIEW
             16.2.15 JAC
                     TABLE 206 JAC: BUSINESS OVERVIEW
             16.2.16 GEELY
                     TABLE 207 GEELY: BUSINESS OVERVIEW
             16.2.17 CANOO
                     TABLE 208 CANOO: BUSINESS OVERVIEW
             16.2.18 ZOTYE
                     TABLE 209 ZOTYE: BUSINESS OVERVIEW

17 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 280)
     17.1 CHINA, JAPAN, GERMANY, AND SOUTH KOREA ARE KEY FOCUS COUNTRIES FOR THE ELECTRIC VEHICLE MARKET
     17.2 TECHNOLOGICAL ADVANCEMENTS TO HELP DEVELOP THE MARKET FOR THE EV PASSENGER CAR
     17.3 CONCLUSION

18 APPENDIX (Page No. - 282)
     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

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 child markets. 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 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 [for example, publications of electric vehicle manufacturers, International Energy Agency (IEA), Federal Transit Administration (FTA), Regional Transportation Authority (RTA), country-level vehicle associations and trade organizations, and the US Department of Transportation (DOT)], EV related magazine articles, directories, technical handbooks, World Economic Outlook, trade websites, government organizations websites, and technical articles have been 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 four major regions, namely, Asia Pacific, Europe, North America, Middle East & Africa. 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 Size, and Share

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

Market Size Estimation

The bottom-up approach was used to estimate and validate the total market size. This method was also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the 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 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, 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 analyze the electric vehicles market and forecast (2018–2030) its size in terms of volume (units)
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry challenges)
  • To analyze the regional markets for growth trends, prospects, and their contribution to the overall market
  • To segment the market and forecast its size, by volume, based on region (Asia Pacific, Europe, North America, Middle East & Africa)
  • To segment and forecast the market based on charging station type (normal charging and supercharging)
  • To segment and forecast the market based on propulsion type [(Plug-in Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV), and Battery Electric Vehicle (BEV)]
  • To segment and forecast the market based on vehicle type (passenger cars and commercial vehicles)
  • To segment and forecast the market based on vehicle class (mid-priced and luxury)
  • To segment and forecast the market based on a max speed of BEV (<125 mph and >125 mph)
  • To segment and forecast the market based on vehicle drive type (Front-wheel drive, Rear-wheel Drive, and All wheel drive)
  • To analyze the technological developments impacting the electric vehicle market
  • To analyze opportunities for stakeholders and the competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • To track and analyze competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other activities carried out by key industry participants

Available Customizations

With the given market data, MarketsandMarkets offers customizations in line with company-specific needs.

  • Automotive Fuel Cell Market, By Component at Country Level
  • Automotive Fuel Cell Market, Additional Countries (Up to 3)
  • Profiling of additional market players (Up to 3)
COVID-19

Get in-depth analysis of the COVID-19 impact on the Electric Vehicle Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Electric Vehicle Market

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Report Code
AT 4907
Published ON
May, 2021
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