Electric Vehicle Market

7500+ companies worldwide approach us every year for their revenue growth inititatives
Global top 2000 strategist rely on us for their growth strategies.
80% of fortune 2000 companies rely on our research to identify new revenue sources.
30000 High Growth Opportunities
95% renewal rate
KNOW MORE
  1. HOME
  2. Top Market Reports
  3. Electric Vehicle Market

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

FREE BROCHURE FREE SAMPLE REPORT
Report Code: AT 4907 Apr, 2022, by marketsandmarkets.com

[324 Pages Report] The global Electric Vehicle Market size is projected to grow from 8,151 thousand units in 2022 to 39,208 thousand units by 2030, at a CAGR of 21.7%. 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 EV 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 are fast growing markets due to the government initiatives and growing high-performance Passenger vehicle segment. However, relatively less number of EV charging stations and hydrogen fuel stations, higher costs involved in initial investments, and performance constraints could hamper the growth of global electric vehicle market.

Electric Vehicle Market

To know about the assumptions considered for the study, Request for Free Sample Report

COVID-19 Impact on the Electric Vehicle Market:

There was a moderate impact on the EV charging business due to the pandemic in early 2020 due to lockdowns. Due to the growing demand for EV market during the pandemic due to incentives from governments worldwide, the demand for EV charging stations increased in 2021. However, the outbreak of the COVID-19 pandemic had affected the extraction of materials such as steel, copper, and aluminum. The prices of raw materials such as copper continued to rise, with the copper price hitting USD 10,000 per ton for the first time in 10 years, in May 2021. On the other hand, top EV manufacturers have increased their EV sales rapidly over the past 2 years. Tesla for instance laid off employees in October 2020 due to deteriorating sales. However, its overall revenue increased due to its earlier expansion to China. In 2021, the company fared well and did not have much impact due to COVID-19. In early 2022, its sales again declined due to lockdowns in China. With the strong push from governments around the world to phase out ICE vehicles, this EV market was less impacted during the pandemic. 

Dynamics for Electric Vehicle Market / EV Market:

Driver: Reducing cost of EV batteries to support demand for cost-effective EVs

EV Market: The cost of EV batteries has been decreasing during the past decade due to technological advancements and the production of EV batteries on a mass scale in large volumes. This has led to a decrease in the cost of electric vehicles as EV batteries are one of the most expensive components of the vehicle. In 2010, the price of an EV battery was approximately USD 1,100 per kWh. However, by 2020, the price fell to approximately USD 137 per kWh, and it reached as low as USD 120 per kWh in 2021. The price of these batteries are as low as USD 100 per kWh in China. This is because of the reducing manufacturing costs of these batteries, reduced cathode material prices, higher production, etc. The prices of EV batteries are expected to fall to approximately USD 60 per kWh by 2030, which is expected to significantly reduce the prices of EVs, making them cheaper than conventional ICE vehicles.

Restraint: Insufficient EV charging infrastructure

There are a low number of EV charging stations in various countries around the world. This leads to the lower availability of public EV charging for electric vehicles, thus reducing adoption. Although various countries are in the process of installing EV charging infrastructure, most countries have not been able to install the required number of EV charging stations except in some states. The demand for EVs is expected to increase with a well-developed EV charging network across the world. Most countries are yet to develop such charging networks. The Netherlands has the highest EV charger density per 100 Km. The Netherlands has the highest density of around 19-20 charging stations per 100 km. China is the next best, with around 3-4 charging stations per 100 km. The UK has around 3 charging points per 100 km, but the country is rapidly expanding its charging stations with its 2030 plans to phase out sales of ICE vehicles. Germany, UAE, Japan, Singapore, South Korea, Sweden, France, US, and Russia have also stepped up the shift to EVs by setting up a large number of charging stations.

Electric Vehicle Market Opportunity: Government initiatives pertaining EVs

Countries around the world have set targets to reduce vehicle emissions by 2030-2050. They have started promoting the development and sales of EV market 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 incentives such as low or zero registration fees and exemptions from import taxes, purchase taxes, and road taxes to adopt EVs.

Norway and Germany are investing significantly in promoting sales of EV market. Thus, due to the high incentives and subsidies in Europe, a high growth rate in the sale of electric vehicles is observed. This has led to the growth in demand for components and equipment associated with EV charging, such as charging cables, connectors, adapters, and portable chargers. As part of a partnership between the US energy and transportation departments, a new vision for a national fast-charging network is expected to be developed, with potential longer-term innovations that 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 the sales of EVs. These steps undertaken by governments around the world are expected to help increase demand for EVs during the coming decade. China, Canada, and US have set up regulations for EVs, while all countries have set up fuel economy standards. They also provide incentives and subsidies for EV manufacturers and buyers. The US provides incentives of up to USD 7,500 for buying new EVs. Most of these countries also provide incentives for the setup of EV charging points. Europe is expected to be the first region with plans to fully shift to EVs. Most countries in the region have announced plans to stop ICE vehicle sales in the coming decades. The UK aims at dominating the entire vehicle market with EV sales by 2030. Norway plans to undertake the same initiative and complete it by 2025. The Netherlands, Israel, Ireland, Iceland, and Denmark have made plans to adopt EVs by 2030. China and Japan also plan to stop ICE vehicle sales by 2035. 

Challenge: Insufficient standardization of EV charging infrastructure

Factors such as variation in charging loads have emphasized the need to standardize electric vehicle charging stations. EV charging stations may only be compatible with certain types of voltages. 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, while DC charging stations provide fast charging through 480V AC. Governments need to standardize charging infrastructure to develop a favorable ecosystem and increase the sales of EVs. Different countries use different standards for fast charging. Japan uses CHAdeMO; Europe, the US, and Korea use CCS; and China uses GB/T. The Indian government had mandated the installation of CHAdeMO and CCS methods since the country has not reached standardization in fast charging methods. Though, this mandate increased the installation cost of charging stations. Hence, in July 2019, the government changed the guidelines and allowed charging station developers to choose their preferred method. The US-based electric car maker Tesla uses high-performance superchargers 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 use of these different charging standards around the world is a barrier to standardization for EV charging stations. While companies are moving toward the use of a common socket or multiple types of sockets in charging stations, there is still a long way to go in the standardization of all charging points. Standardization of charging points would simplify charging EVs in public and lead to faster growth of EV demand worldwide.

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 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, but China sold more EVs in 2021 due to the growing demand of mini-EVs. 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 market and are expected to be the fastest growing market in the coming years.  

Rear wheel Drive EV’s to be the fastest growing in demand during the forecast period

The demand for RWD EV’s 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 and 2021 is also a RWD popular across Asia and Europe.  

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

The Asia Pacific electric vehicle 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 market 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 EV’s 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 policy’s will help the country become the regions fastest growing market for EV’s in the coming years. Thailand, Indonesia, Malaysia, and Vietnam have also started working to reduce their vehicle emissions and shift to the use of EVs.

Electric Vehicle Market by Region

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

Key Market Players

The electric vehicle market is dominated by established players such as Tesla (US), Volkswagen AG (Germany), SAIC Motors (China), BYD (China), and Stellantis (Netherlands). The EV market ranking has been derived by considering EV sales and a certain percentage of 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.

Get online access to the report on the World's First Market Intelligence Cloud

  • Easy to Download Historical Data & Forecast Numbers
  • Company Analysis Dashboard for high growth potential opportunities
  • Research Analyst Access for customization & queries
  • Competitor Analysis with Interactive dashboard
  • Latest News, Updates & Trend analysis
Request Sample
Click on image to enlarge

Scope of the Report

Report Metric

Details

EV Market size available for years

2018–2030

Base year considered

2021

Forecast period

2022-2030

Forecast units

Volume (Thousand Units)

Segments covered

Components, Vehicle Type,  Vehicle Class, Top Speed, Vehicle Drive Type, EV Charging Point Type, Vehicle Connectivity, End Use, Propulsion and Region.

Geographies covered

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

Companies Covered

Tesla (US), Volkswagen AG (Germany), SAIC Motors (China), BYD (China), and Stellantis (Netherlands). 
A total of 35 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, Vehicle Connectivity, End Use, Propulsion and Region.

EV Market, 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

EV Market, Based on Vehicle Type:

  • Passenger Cars
  • Commercial Vehicles

EV Market, Based on Vehicle Class:

  • Low-priced
  • Mid-priced
  • Luxury

EV Market, Based on Top Speed:

  • <125 MPH
  • >125 MPH

EV Market, Based on Vehicle Drive Type:

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

EV Market, Based on EV Charging Point Type:

  • Normal Charging
  • Super Charging

EV Market, Based on Vehicle Connectivity:

  • V2B or V2H
  • V2G
  • V2V
  • V2X

EV Market, Based on Propulsion

  • BEV
  • PHEV
  • FCEV

EV Market, Based on End Use

  • Private
  • Commercial Fleets

EV Market, Based on the Region:

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

Recent Developments

  • In February 2022, MG Motors showcased its upcoming EV, the MG 4, which is expected to launch in India later in 2022. The EV will come with a 61.1 kWh battery pack and is expected to run around 400 km.
  • In January 2022, Volkswagen announced the development of its ID.5 model based on the Skoda Enayaq iV model. The vehicle is expected to have a range of around 300 miles on 1 charge.
  • In December 2021, BYD launched its new second-generation e6 EV for the Indian market. The deliveries for this model were started by February 2022. This MPV comes with a 71.7 kWh battery pack and a range of around 250+ miles per charge.
  • In November 2021, BMW launched its new i4 electric sedan with a range of approximately 300-367 miles. The vehicle can reach 100 km/hour in just four seconds. It comes with automatic transmission and connected vehicle features.
  • In June  2021, Opel/Vauxhall, a subsidiary of Stellantis, launched its Mokka EV, which comes with a max range of 209 miles and a 50kWh battery. The car is FWD and comes with connected vehicle features.
  • In April 2021, BYD launched four new electric vehicle models equipped with Blade battery 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 come 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.

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. - 26)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
           TABLE 1 ELECTRIC VEHICLE MARKET DEFINITION, BY PROPULSION
           TABLE 2 ELECTRIC VEHICLE MARKET DEFINITION, BY VEHICLE TYPE
           TABLE 3 ELECTRIC VEHICLE MARKET DEFINITION, BY VEHICLE DRIVE TYPE
           TABLE 4 ELECTRIC VEHICLE MARKET DEFINITION, BY VEHICLE CLASS
           TABLE 5 ELECTRIC VEHICLE MARKET DEFINITION, BY VEHICLE TOP SPEED
           TABLE 6 ELECTRIC VEHICLE MARKET DEFINITION, BY VEHICLE CONNECTIVITY
           TABLE 7 ELECTRIC VEHICLE CHARGING STATION MARKET, BY CHARGING POINT TYPE
           TABLE 8 ELECTRIC VEHICLE MARKET DEFINITION, BY COMPONENT
           TABLE 9 ELECTRIC VEHICLE MARKET DEFINITION, BY END USE
           1.2.1 INCLUSIONS & EXCLUSIONS
                    TABLE 10 INCLUSIONS & EXCLUSIONS IN THE ELECTRIC VEHICLE MARKET
    1.3 MARKET SCOPE
           FIGURE 1 MARKETS COVERED
           1.3.1 YEARS CONSIDERED FOR STUDY
    1.4 CURRENCY & PRICING
           TABLE 11 CURRENCY EXCHANGE RATES
    1.5 PACKAGE SIZE
    1.6 STAKEHOLDERS
    1.7 LIMITATIONS
    1.8 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 37)
    2.1 RESEARCH DATA
           FIGURE 2 ELECTRIC VEHICLE MARKET: RESEARCH DESIGN
           FIGURE 3 RESEARCH DESIGN MODEL
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key secondary sources for electric vehicle market
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Primary interviews – demand and supply sides
                    2.1.2.2 Key industry insights and Breakdown of Primary Interviews
                               FIGURE 4 KEY INDUSTRY INSIGHTS
                               FIGURE 5 BREAKDOWN OF PRIMARY INTERVIEWS
                    2.1.2.3 List of Primary participants
    2.2 MARKET SIZE ESTIMATION
           FIGURE 6 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
           2.2.1 BOTTOM-UP APPROACH
                    FIGURE 7 BOTTOM-UP APPROACH: ELECTRIC VEHICLE MARKET
           2.2.2 TOP-DOWN APPROACH
           2.2.3 TOP-DOWN APPROACH: ELECTRIC VEHICLE MARKET
                    FIGURE 8 ELECTRIC VEHICLE: MARKET ESTIMATION NOTES
                    FIGURE 9 EV MARKET: RESEARCH DESIGN & METHODOLOGY – DEMAND SIDE
                    FIGURE 10 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 BOTTOM-UP (SUPPLY SIDE): COLLECTIVE MARKET SHARE OF MAJOR PLAYERS
    2.3 DATA TRIANGULATION
           FIGURE 11 DATA TRIANGULATION METHODOLOGY
           FIGURE 12 MARKET GROWTH PROJECTIONS FROM DEMAND-SIDE DRIVERS
    2.4 FACTOR ANALYSIS
           2.4.1 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY-SIDE
    2.5 RESEARCH ASSUMPTIONS
    2.6 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 54)
    FIGURE 13 ELECTRIC VEHICLE: MARKET OVERVIEW
    FIGURE 14 ELECTRIC VEHICLE MARKET, BY REGION, 2022–2030 (THOUSAND UNITS)
    FIGURE 15 BEVS EXPECTED TO HOLD LARGEST MARKET DURING FORECAST PERIOD (2022–2030)
    FIGURE 16 KEY PLAYERS IN ELECTRIC VEHICLE MARKET
    FIGURE 17 COVID-19 IMPACT ON ELECTRIC VEHICLE MARKET

4 PREMIUM INSIGHTS (Page No. - 59)
    4.1 ATTRACTIVE OPPORTUNITIES IN EV MARKET
           FIGURE 18 INCREASING DEMAND FOR ZERO-EMISSION COMMUTING TO DRIVE MARKET
    4.2 ELECTRIC VEHICLE CHARGING STATION MARKET, BY CHARGING POINT TYPE
           FIGURE 19 SUPER CHARGING SEGMENT TO GROW AT FASTER RATE (2022–2027)
    4.3 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE
           FIGURE 20 PASSENGER CARS TO DOMINATE MARKET DURING FORECAST PERIOD (2022–2030)
    4.4 ELECTRIC VEHICLE MARKET, BY VEHICLE CLASS
           FIGURE 21 LOW-PRICED VEHICLES TO OCCUPY LARGER MARKET SHARE DURING FORECAST PERIOD (2022–2030)
    4.5 ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE
           FIGURE 22 BEVS TO CONTINUE HOLDING HIGHER MARKET SHARE DURING FORECAST PERIOD (2022–2030)
    4.6 ELECTRIC VEHICLE MARKET, BY VEHICLE TOP SPEED
           FIGURE 23 <125 MPH EV DEMAND TO GROW AT HIGHER CAGR DURING FORECAST PERIOD (2022–2030)
    4.7 ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE
           FIGURE 24 REAR WHEEL DRIVE TO INFLUENCE GREATER DEMAND IN EV MARKET DURING FORECAST PERIOD (2022–2030)
    4.8 ELECTRIC VEHICLE MARKET GROWTH RATE, BY REGION
           FIGURE 25 ASIA PACIFIC PROJECTED TO BE LARGEST MARKET, 2022-2030

5 MARKET OVERVIEW (Page No. - 63)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 26 ELECTRIC VEHICLE MARKET: MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Reducing prices of batteries to support demand for cost-effective EVs
                               FIGURE 27 EV BATTERY PRICING ANALYSIS
                    5.2.1.2 Faster charging speed to enable plug and charge use of EVs
                               FIGURE 28 TIME REQUIRED TO CHARGE ELECTRIC VEHICLES
                    5.2.1.3 Rising petroleum prices increase demand for EVs due to lower electricity cost
                               FIGURE 29 AVERAGE PETROL PRICES AROUND WORLD
                               FIGURE 30 COMPARISON OF OPERATING COST OF EVS AND ICE VEHICLES
                    5.2.1.4 Lower emissions contribute to demand for EVs
                               FIGURE 31 COMPARISON OF EMISSIONS OF EVS AND GASOLINE VEHICLES
                    5.2.1.5 Development of private and semi-public EV charging
                               TABLE 12 REVENUE POOLS FROM EV CHARGING
           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 Insufficient EV charging infrastructure to slow EV adoption
                               FIGURE 33 COUNTRY-WISE COMPARISON OF EV CHARGER DENSITY
                    5.2.2.3 Longer charging time than other fuels to hinder shift to EVs
                               FIGURE 34 CHARGING TIME REQUIRED TO CHARGE USING DIFFERENT CHARGING POINT TYPES
                    5.2.2.4 Lower vehicle range hampers use of EVs for traveling
                               TABLE 13 ELECTRIC CAR PERFORMANCE COMPARISON
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Rising demand for electric vehicles in automotive and transportation sectors
                               FIGURE 35 EV PC SALES GROWTH OVER YEARS
                    5.2.3.2 Government initiatives pertaining to EVs
                               TABLE 14 EV RELATED POLICIES ACROSS MAJOR MARKETS
                               FIGURE 36 ELECTRIFICATION TARGETS BY COUNTRIES
                    5.2.3.3 Development of wireless EV charging technology for on-the-go charging
                               FIGURE 37 WORKING OF WIRELESS EV CHARGING
                    5.2.3.4 Use of EVs for fleets and commercial applications
                               TABLE 15 MAJOR EV FLEET TARGETS
           5.2.4 CHALLENGES
                    5.2.4.1 High cost of electric vehicles compared to ICE
                               FIGURE 38 COST COMPARISON OF EV AND ICE VEHICLES
                    5.2.4.2 Insufficient standardization of EV charging infrastructure
                               FIGURE 39 EV CHARGERS USED AROUND WORLD
                    5.2.4.3 Lower availability of lithium for use in EV batteries
                               FIGURE 40 LITHIUM-ION DEMAND AND SUPPLY
                    5.2.4.4 Insufficient grid infrastructure globally
                               FIGURE 41 GRID REQUIREMENT FOR EVS IN GERMANY BY 2030
                               TABLE 16 ELECTRIC VEHICLE MARKET: IMPACT OF MARKET DYNAMICS
    5.3 PORTER’S FIVE FORCES
           FIGURE 42 PORTER’S FIVE FORCES: EV MARKET
           TABLE 17 ELECTRIC VEHICLE MARKET: IMPACT OF PORTER’S 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 INTENSITY OF COMPETITIVE RIVALRY
    5.4 NEW AND UPCOMING ELECTRIC VEHICLE MODELS, 2021-2025
           TABLE 18 NEW AND UPCOMING ELECTRIC VEHICLE MODELS, 2021–2025
    5.5 TOP-SELLING EV MODELS IN 2021 (WORLDWIDE IN THOUSANDS)
           FIGURE 43 TOP-SELLING EVS IN 2021 WORLDWIDE (THOUSAND UNITS)
    5.6 ELECTRIC VEHICLE MARKET ECOSYSTEM
           FIGURE 44 EV MARKET: ECOSYSTEM ANALYSIS
           5.6.1 EV CHARGING PROVIDERS
           5.6.2 SOFTWARE PROVIDERS
           5.6.3 BATTERY MANUFACTURERS
           5.6.4 COMPONENT MANUFACTURERS
           5.6.5 OEMS
           5.6.6 END USERS
                    TABLE 19 ELECTRIC VEHICLE MARKET: ROLE OF COMPANIES IN ECOSYSTEM
    5.7 NOTABLE DEVELOPMENTS IN EV MARKET (2021)
           FIGURE 45 NOTABLE EVENTS Q1 2021
           FIGURE 46 NOTABLE EVENTS Q2 2021
           FIGURE 47 NOTABLE EVENTS Q3 2021
           FIGURE 48 NOTABLE EVENTS Q4 2021
    5.8 SUPPLY CHAIN ANALYSIS
           FIGURE 49 SUPPLY CHAIN ANALYSIS OF ELECTRIC VEHICLE MARKET
    5.9 ELECTRIC VEHICLE PRICING ANALYSIS
           TABLE 20 ELECTRIC VEHICLE MARKET: PRICING OF POPULAR EVS (ASIA PACIFIC)
           TABLE 21 ELECTRIC VEHICLE MARKET: PRICING OF POPULAR EVS (EUROPE)
           TABLE 22 ELECTRIC VEHICLE MARKET: PRICING OF POPULAR EVS (NORTH AMERICA)
    5.10 TECHNOLOGY ANALYSIS
           5.10.1 V2X CHARGING
                     FIGURE 50 PARTS OF V2X (VEHICLE TO EVERYTHING)
           5.10.2 SMART CHARGING SYSTEM
                     FIGURE 51 SMART EV CHARGING SYSTEM
           5.10.3 SOLID STATE BATTERY (SSB)
           5.10.4 IOT IN ELECTRIC VEHICLES
           5.10.5 PACKAGED FUEL CELL SYSTEM MODULE
                     FIGURE 52 TOYOTA’S NEW PACKAGED FUEL CELL SYSTEM MODULE
           5.10.6 METHANE FUEL CELLS
    5.11 PATENT ANALYSIS
           5.11.1 INTRODUCTION
                     FIGURE 53 PUBLICATION TRENDS (2012-2021)
           5.11.2 PATENTS PUBLISHED BY MAJOR COMPANIES IN EV ECOSYSTEM
                     FIGURE 54 ELECTRIC VEHICLE PATENTS, TREND ANALYSIS (2012-2021)
                     TABLE 23 IMPORTANT PATENT REGISTRATIONS RELATED TO THE ELECTRIC VEHICLE MARKET
    5.12 TRADE ANALYSIS
           TABLE 24 ELECTRIC VEHICLE MARKET: TRADE DATA FOR MOTOR VEHICLES IN 2021 (HS 8703)
    5.13 CASE STUDY
           5.13.1 NISSAN LEAF IN DURHAM COUNTY, NORTH CAROLINA
           5.13.2 ADOPTION OF ELECTRIC BUSES AS PUBLIC TRANSPORT IN SHENZHEN, CHINA
    5.14 REGULATORY OVERVIEW
           5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS, BY REGION
                     TABLE 25 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 26 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 27 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.14.2 NETHERLANDS
                     TABLE 28 NETHERLANDS: ELECTRIC VEHICLE INCENTIVES
                     TABLE 29 NETHERLANDS: ELECTRIC VEHICLE CHARGING STATIONS INCENTIVES
           5.14.3 GERMANY
                     TABLE 30 GERMANY: ELECTRIC VEHICLE INCENTIVES
                     TABLE 31 GERMANY: ELECTRIC VEHICLE CHARGING STATIONS INCENTIVES
           5.14.4 FRANCE
                     TABLE 32 FRANCE: ELECTRIC VEHICLE INCENTIVES
                     TABLE 33 FRANCE: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
           5.14.5 UK
                     TABLE 34 UK: ELECTRIC VEHICLE INCENTIVES
                     TABLE 35 UK: ELECTRIC VEHICLE CHARGING STATIONS INCENTIVES
           5.14.6 CHINA
                     TABLE 36 CHINA: ELECTRIC VEHICLE INCENTIVES
                     TABLE 37 CHINA: ELECTRIC VEHICLE CHARGING STATIONS INCENTIVES
           5.14.7 US
                     TABLE 38 US: ELECTRIC VEHICLE INCENTIVES
                     TABLE 39 US: ELECTRIC VEHICLE CHARGING STATIONS INCENTIVES
    5.15 KEY CONFERENCE & EVENTS IN 2022-2023
           TABLE 40 ELECTRIC VEHICLE MARKET: DETAILED LIST OF CONFERENCES & EVENTS
    5.16 TRENDS AND DISRUPTIONS
           FIGURE 55 EV MARKET: TRENDS AND DISRUPTIONS
    5.17 COVID-19 IMPACT ANALYSIS
           5.17.1 IMPACT ON RAW MATERIAL SUPPLY
           5.17.2 COVID-19 IMPACT ON AUTOMOTIVE INDUSTRY
           5.17.3 OEM ANNOUNCEMENTS
                     TABLE 41 OEM ANNOUNCEMENTS
           5.17.4 IMPACT OF COVID-19 ON ELECTRIC VEHICLE PRODUCTION
    5.18 ELECTRIC VEHICLE MARKET, SCENARIOS (2022–2030)
           5.18.1 ELECTRIC VEHICLE MARKET, MOST LIKELY SCENARIO
                     FIGURE 56 EV  MARKET – FUTURE TRENDS & SCENARIOS, 2022–2030 (THOUSAND UNITS)
           5.18.2 ELECTRIC VEHICLE MARKET, OPTIMISTIC SCENARIO
                     TABLE 42 ELECTRIC VEHICLE MARKET (OPTIMISTIC), BY REGION, 2022–2030 (THOUSAND UNITS)
           5.18.3 ELECTRIC VEHICLE MARKET, PESSIMISTIC SCENARIO
                     TABLE 43 ELECTRIC VEHICLE MARKET (PESSIMISTIC), BY REGION, 2022–2030 (THOUSAND UNITS)

6 ELECTRIC VEHICLE CHARGING STATION MARKET, BY CHARGING POINT TYPE (Page No. - 122)
    6.1 INTRODUCTION
           FIGURE 57 DC SUPER CHARGING SEGMENT PROJECTED TO GROW AT HIGHER CAGR DURING FORECAST PERIOD (2022–2027)
           TABLE 44 ELECTRIC VEHICLE CHARGING STATION MARKET, BY CHARGING POINT TYPE, 2018–2021 (THOUSAND UNITS)
           TABLE 45 ELECTRIC VEHICLE CHARGING STATION MARKET, BY CHARGING POINT TYPE, 2022–2027 (THOUSAND UNITS)
           6.1.1 OPERATIONAL DATA
                    TABLE 46 LEADING EV CHARGING PROVIDERS GLOBALLY
           6.1.2 ASSUMPTIONS
                    TABLE 47 ASSUMPTIONS: BY CHARGING POINT TYPE
           6.1.3 RESEARCH METHODOLOGY
    6.2 AC (NORMAL CHARGING)
           6.2.1 INCREASED ADOPTION OF ELECTRIC VEHICLES TO BOOST DEMAND
                    TABLE 48 ELECTRIC VEHICLE CHARGING STATION MARKET FOR AC (NORMAL CHARGING), BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 49 ELECTRIC VEHICLE CHARGING STATION MARKET FOR AC (NORMAL CHARGING), BY REGION, 2022–2027 (THOUSAND UNITS)
    6.3 DC (SUPER CHARGING)
           6.3.1 DEMAND FOR FAST CHARGING OF EVS TO FUEL SUPER CHARGING SEGMENT GROWTH
                    TABLE 50 ELECTRIC VEHICLE CHARGING STATION MARKET FOR DC (SUPER CHARGING), BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 51 ELECTRIC VEHICLE CHARGING STATION MARKET FOR DC (SUPER CHARGING), BY REGION, 2022–2027 (THOUSAND UNITS)
    6.4 INDUCTIVE CHARGING
    6.5 KEY PRIMARY INSIGHTS

7 ELECTRIC VEHICLE MARKET, BY COMPONENT (Page No. - 129)
    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
    7.1 POWER CONDITIONER
    7.11 AIR COMPRESSOR
    7.12 HUMIDIFIER

8 ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE (Page No. - 133)
    8.1 INTRODUCTION
           FIGURE 58 FCEV SEGMENT PROJECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD (2022–2030)
           TABLE 52 ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
           TABLE 53 ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
           8.1.1 OPERATIONAL DATA
                    TABLE 54 SALES OF POPULAR EVS WORLDWIDE, 2020 & 2021
           8.1.2 ASSUMPTIONS
                    TABLE 55 ASSUMPTIONS: BY PROPULSION TYPE
           8.1.3 RESEARCH METHODOLOGY
    8.2 BATTERY ELECTRIC VEHICLE (BEV)
           8.2.1 INCREASE IN VEHICLE RANGE PER CHARGE TO RAISE DEMAND
                    TABLE 56 BEV MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 57 BEV MARKET, BY REGION, 2022–2030 (THOUSAND UNITS)
    8.3 FUEL CELL ELECTRIC VEHICLE (FCEV)
           8.3.1 DEMAND FOR ZERO EMISSION VEHICLES TO UPLIFT FCEV MARKET
                    TABLE 58 FCEV MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 59 FCEV MARKET, BY REGION, 2022–2030 (THOUSAND UNITS)
    8.4 PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV)
           8.4.1 GOVERNMENT PROVISION OF TAX BENEFITS AND INCENTIVES TO SIGNIFICANTLY PUSH DEMAND FOR PHEVS
                    TABLE 60 PHEV MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 61 PHEV MARKET, BY REGION, 2022–2030 (THOUSAND UNITS)
    8.5 HYBRID ELECTRIC VEHICLE (HEV)
    8.6 KEY PRIMARY INSIGHTS

9 ELECTRIC VEHICLE MARKET, BY VEHICLE CLASS (Page No. - 142)
    9.1 INTRODUCTION
           FIGURE 59 LOW-PRICED SEGMENT PROJECTED TO DOMINATE SEGMENT AT HIGHER CAGR DURING FORECAST PERIOD (2022–2030)
           TABLE 62 ELECTRIC VEHICLE MARKET, BY VEHICLE CLASS, 2018–2021 (THOUSAND UNITS)
           TABLE 63 ELECTRIC VEHICLE MARKET, BY VEHICLE CLASS, 2022–2030 (THOUSAND UNITS)
           9.1.1 OPERATIONAL DATA
                    TABLE 64 POPULAR EVS ACROSS ASIA PACIFIC
                    TABLE 65 POPULAR EVS ACROSS EUROPE
                    TABLE 66 POPULAR EVS ACROSS NORTH AMERICA
           9.1.2 ASSUMPTIONS
                    TABLE 67 ASSUMPTIONS: BY VEHICLE CLASS
           9.1.3 RESEARCH METHODOLOGY
    9.2 LOW-PRICED
           9.2.1 GROWING DEMAND FOR AFFORDABLE EVS DUE TO UPCOMING STRINGENT LAWS TO INCREASE DEMAND
                    TABLE 68 LOW-PRICED ELECTRIC VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 69 LOW -PRICED ELECTRIC VEHICLE MARKET, BY REGION, 2022–2030 (THOUSAND UNITS)
    9.3 MID-PRICED
           9.3.1 DECLINE IN BATTERY PRICE EXPECTED TO IMPROVE DEMAND
                    TABLE 70 ELECTRIC MID-PRICED VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 71 ELECTRIC MID-PRICED VEHICLE MARKET, BY REGION, 2022–2030 (THOUSAND UNITS)
    9.4 LUXURY
           9.4.1 HIGH-END TECHNOLOGY EXPECTED TO EXPAND DEMAND FOR LUXURY SEGMENT
                    TABLE 72 ELECTRIC LUXURY VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 73 ELECTRIC LUXURY VEHICLE MARKET, BY REGION, 2022–2030 (THOUSAND UNITS)
    9.5 KEY PRIMARY INSIGHTS

10 ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE (Page No. - 151)
     10.1 INTRODUCTION
             FIGURE 60 REAR WHEEL DRIVE SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD (2022–2030)
             TABLE 74 ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE, 2018–2021 (THOUSAND UNITS)
             TABLE 75 ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE, 2022–2030 (THOUSAND UNITS)
             10.1.1 OPERATIONAL DATA
                        TABLE 76 POPULAR BEVS WORLDWIDE AND THEIR DRIVE TYPE CONFIGURATION
                        TABLE 77 POPULAR PHEVS WORLDWIDE AND THEIR DRIVE TYPE CONFIGURATION
             10.1.2 ASSUMPTIONS
                        TABLE 78 ASSUMPTIONS: BY VEHICLE DRIVE TYPE
             10.1.3 RESEARCH METHODOLOGY
     10.2 FRONT WHEEL DRIVE (FWD)
             TABLE 79 ELECTRIC FWD VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
             TABLE 80 ELECTRIC FWD VEHICLE MARKET, BY REGION, 2022–2030 (THOUSAND UNITS)
     10.3 REAR WHEEL DRIVE (RWD)
             TABLE 81 ELECTRIC RWD VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
             TABLE 82 ELECTRIC RWD VEHICLE MARKET, BY REGION, 2022–2030 (THOUSAND UNITS)
     10.4 ALL WHEEL DRIVE (AWD)
             TABLE 83 ELECTRIC AWD VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
             TABLE 84 ELECTRIC AWD VEHICLE MARKET, BY REGION, 2022–2030 (THOUSAND UNITS)
     10.5 KEY PRIMARY INSIGHTS

11 ELECTRIC VEHICLE MARKET, BY VEHICLE TOP SPEED (Page No. - 162)
     11.1 INTRODUCTION
             FIGURE 61 <125 MPH SEGMENT PROJECTED TO GROW AT HIGHER CAGR DURING FORECAST PERIOD (2022–2030)
             TABLE 85 ELECTRIC VEHICLE MARKET, BY VEHICLE TOP SPEED, 2018–2021 (THOUSAND UNITS)
             TABLE 86 ELECTRIC VEHICLE MARKET, BY VEHICLE TOP SPEED, 2022–2030 (THOUSAND UNITS)
             11.1.1 OPERATIONAL DATA
                        TABLE 87 POPULAR AND UPCOMING EVS WORLDWIDE
             11.1.2 ASSUMPTIONS
                        TABLE 88 ASSUMPTIONS: BY VEHICLE TOP SPEED
             11.1.3 RESEARCH METHODOLOGY
     11.2 <125 MPH
             11.2.1 DECREASE IN EV PRICE EXPECTED TO BOOST DEMAND
                        TABLE 89 <125 MPH ELECTRIC VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                        TABLE 90 <125 MPH ELECTRIC VEHICLE MARKET, BY REGION, 2022–2030 (THOUSAND UNITS)
     11.3 >125 MPH
             11.3.1 DEMAND FOR HIGH-END VEHICLES EXPECTED TO PUSH DEMAND
                        TABLE 91 >125 MPH ELECTRIC VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                        TABLE 92 >125 MPH ELECTRIC VEHICLE MARKET, BY REGION, 2022–2030 (THOUSAND UNITS)
     11.4 KEY PRIMARY INSIGHTS

12 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE (Page No. - 169)
     12.1 INTRODUCTION
             FIGURE 62 COMMERCIAL VEHICLE SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD (2022–2030)
             TABLE 93 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
             TABLE 94 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2022–2030 (THOUSAND UNITS)
             12.1.1 OPERATIONAL DATA
                        TABLE 95 POPULAR EVS WORLDWIDE
                        TABLE 96 UPCOMING ELECTRIC TRUCKS AND ELECTRIC PICK-UP TRUCK MODELS
             12.1.2 ASSUMPTIONS
                        TABLE 97 ASSUMPTIONS: BY VEHICLE TYPE
             12.1.3 RESEARCH METHODOLOGY
     12.2 PASSENGER CAR (PC)
             12.2.1 GROWING EMISSION NORMS TO BOOST MARKET DEMAND
                        TABLE 98 ELECTRIC PASSENGER CAR MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                        TABLE 99 ELECTRIC PASSENGER CAR MARKET, BY REGION, 2022–2030 (THOUSAND UNITS)
     12.3 COMMERCIAL VEHICLES (CV)
             12.3.1 GROWTH OF E-COMMERCE AND LOGISTICS EXPECTED TO AMPLIFY DEMAND
                        TABLE 100 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                        TABLE 101 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION, 2022–2030 (THOUSAND UNITS)
     12.4 KEY PRIMARY INSIGHTS

13 ELECTRIC VEHICLE MARKET, BY VEHICLE CONNECTIVITY (Page No. - 178)
     13.1 INTRODUCTION
             TABLE 102 EV MARKET, BY VEHICLE POWER CONNECTIVITY, 2018–2021 (THOUSAND UNITS)
             TABLE 103 EV MARKET, BY VEHICLE POWER CONNECTIVITY, 2022–2030 (THOUSAND UNITS)
             TABLE 104 EV MARKET, BY VEHICLE POWER CONNECTIVITY, 2018–2021 (USD MILLION)
             TABLE 105 EV MARKET, BY VEHICLE POWER CONNECTIVITY, 2022–2030 (USD MILLION)
     13.2 V2B OR V2I
     13.3 V2G
     13.4 V2V
     13.5 V2X

14 ELECTRIC VEHICLE MARKET, BY END USE (Page No. - 180)
     14.1 INTRODUCTION
     14.2 OPERATIONAL DATA
             TABLE 106 EV FLEET TARGETS WORLDWIDE
             TABLE 107 ELECTRIC VEHICLES IN USE FOR COMMERCIAL FLEETS BY FLEET CATEGORY
     14.3 PRIVATE
     14.4 COMMERCIAL FLEETS


15 ELECTRIC VEHICLE MARKET, BY REGION (Page No. - 183)
     15.1 INTRODUCTION
             FIGURE 63 EV PLANS AND INVESTMENTS BY TOP OEMS
             FIGURE 64 VENTURE FUNDS SET UP FOR EV MARKET
             FIGURE 65 ASIA PACIFIC PROJECTED TO BE LARGEST MARKET FOR ELECTRIC PASSENGER CARS DURING FORECAST PERIOD (2022–2030)
             TABLE 108 ELECTRIC VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
             TABLE 109 ELECTRIC VEHICLE MARKET, BY REGION, 2022–2030 (THOUSAND UNITS)
             TABLE 110 ELECTRIC VEHICLE MARKET FOR PASSENGER CARS, BY REGION, 2018–2021 (THOUSAND UNITS)
             TABLE 111 ELECTRIC VEHICLE MARKET FOR PASSENGER CARS, BY REGION, 2022–2030 (THOUSAND UNITS)
     15.2 ASIA PACIFIC
             FIGURE 66 ASIA PACIFIC: PASSENGER CAR ELECTRIC VEHICLE MARKET SNAPSHOT, 2022-2030
             TABLE 112 ASIA PACIFIC: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY, 2018–2021 (THOUSAND UNITS)
             TABLE 113 ASIA PACIFIC: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY, 2022–2030 (THOUSAND UNITS)
             15.2.1 CHINA
                        15.2.1.1 Rapid growth in sales of mini-EVs to lead market
                                     TABLE 114 BESTSELLING EVS IN CHINA, 2021
                                     TABLE 115 EV MOBILITY LANDSCAPE IN CHINA
                                     TABLE 116 CHINA: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 117 CHINA: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.2.2 INDIA
                        15.2.2.1 Strong support from startups along with government initiatives to boost EV demand
                                     TABLE 118 BESTSELLING EVS IN INDIA, 2021
                                     FIGURE 67 INCENTIVE AND REGULATORY LANDSCAPE FOR EVS IN INDIA
                                     TABLE 119 INDIA: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 120 INDIA: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.2.3 JAPAN
                        15.2.3.1 Increase in government incentives to fuel demand
                                     TABLE 121 JAPAN: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 122 JAPAN: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.2.4 SOUTH KOREA
                        15.2.4.1 Increased investments in electric vehicles to raise demand
                                     FIGURE 68 NEW EV INCENTIVE BUDGET IN SOUTH KOREA
                                     TABLE 123 SOUTH KOREA: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 124 SOUTH KOREA: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.2.5 THAILAND
                        15.2.5.1 New government incentives to encourage EV market
                                     TABLE 125 BESTSELLING EVS IN THAILAND, 2021
                                     TABLE 126 EVS SOLD IN THAILAND AS OF 2022
                                     TABLE 127 THAILAND: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 128 THAILAND: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.2.6 INDONESIA
                        15.2.6.1 Government and OEM support to increase EV demand
                                     TABLE 129 BESTSELLING EVS IN INDONESIA, 2021
                                     FIGURE 69 INDONESIA NICKEL RESERVES
                                     TABLE 130 INDONESIA: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 131 INDONESIA: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.2.7 MALAYSIA
                        15.2.7.1 Government plans for subsidies and charging stations to push EV demand
                                     TABLE 132 MALAYSIA: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 133 MALAYSIA: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.2.8 VIETNAM
                        15.2.8.1 Vinfast EV expansion to amplify demand
                                     TABLE 134 VIETNAM: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 135 VIETNAM: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
     15.3 EUROPE
             FIGURE 70 NUMBER OF ELECTRIC CAR MODELS OFFERED BY OEMS IN EUROPEAN MARKET
             FIGURE 71 EUROPE: GERMANY EXPECTED TO LEAD EV SALES DURING 2022-2030
             TABLE 136 EUROPE: PASSENGER CAR EV MARKET, BY COUNTRY, 2018–2021 (THOUSAND UNITS)
             TABLE 137 EUROPE: PASSENGER CAR EV MARKET, BY COUNTRY, 2022–2030 (THOUSAND UNITS)
             15.3.1 FRANCE
                        15.3.1.1 Purchase grants by government to advance market demand
                                     TABLE 138 BESTSELLING EVS IN FRANCE, 2021
                                     TABLE 139 FRANCE: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 140 FRANCE: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.3.2 GERMANY
                        15.3.2.1 Rising sales of hybrid vehicles by domestic players to expand demand
                                     FIGURE 72 GERMANY EV ROADMAP
                                     TABLE 141 BESTSELLING EVS IN GERMANY, 2021
                                     TABLE 142 GERMANY: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 143 GERMANY: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.3.3 NETHERLANDS
                        15.3.3.1 Government focus on greener vehicles to grow demand
                                     TABLE 144 BESTSELLING EVS IN NETHERLANDS, 2021
                                     TABLE 145 EV FLEET CARS IN NETHERLANDS, 2021
                                     TABLE 146 NETHERLANDS: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 147 NETHERLANDS: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.3.4 NORWAY
                        15.3.4.1 Emergence of e-mobility to uplift demand
                                     TABLE 148 BESTSELLING EVS IN NORWAY, 2021
                                     TABLE 149 NORWAY: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 150 NORWAY: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.3.5 SWEDEN
                        15.3.5.1 Strong existing charging infrastructure to boost demand
                                     TABLE 151 SWEDEN: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 152 SWEDEN: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.3.6 UK
                        15.3.6.1 Investment in ultra-low emission vehicles to elevate demand
                                     FIGURE 73 UK EV ROADMAP
                                     TABLE 153 BESTSELLING EVS IN UK, 2021
                                     TABLE 154 UK: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 155 UK: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.3.7 DENMARK
                        15.3.7.1 Government promotion of private infrastructure to boost demand
                                     TABLE 156 DENMARK: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 157 DENMARK: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.3.8 AUSTRIA
                        15.3.8.1 Move towards cleaner vehicles to boost demand
                                     TABLE 158 AUSTRIA: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 159 AUSTRIA: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.3.9 SWITZERLAND
                        15.3.9.1 Expansion of electric vehicle charging infrastructure to scale up domestic market
                                     TABLE 160 SWITZERLAND: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 161 SWITZERLAND: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.3.10 SPAIN
                        15.3.10.1 Increasing investments in FCEVs to build market demand
                                     TABLE 162 SPAIN: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 163 SPAIN: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
     15.4 NORTH AMERICA
             FIGURE 74 NORTH AMERICA EV BATTERY INITIATIVES
             FIGURE 75 NORTH AMERICA: PASSENGER CAR ELECTRIC VEHICLE MARKET SNAPSHOT
             TABLE 164 NORTH AMERICA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY, 2018–2021 (THOUSAND UNITS)
             TABLE 165 NORTH AMERICA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY, 2022–2030 (THOUSAND UNITS)
             15.4.1 CANADA
                        15.4.1.1 Boom in development of electric vehicle infrastructure to increase demand
                                     FIGURE 76 CANADA EV MARKET DEMAND
                                     TABLE 166 CANADA: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 167 CANADA: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.4.2 US
                        15.4.2.1 Increasing production capacity of electric vehicles to market
                                     TABLE 168 BESTSELLING BEVS IN US, 2021
                                     FIGURE 77 US EV MARKET
                                     TABLE 169 US: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 170 US: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
     15.5 MIDDLE EAST & AFRICA
             FIGURE 78 EGYPT TO BE FASTEST-GROWING MARKET IN MIDDLE EAST & AFRICA
             TABLE 171 MIDDLE EAST & AFRICA: PASSENGER CAR EV MARKET, BY COUNTRY, 2018–2021 (THOUSAND UNITS)
             TABLE 172 MIDDLE EAST & AFRICA: PASSENGER CAR EV MARKET, BY COUNTRY, 2022–2030 (THOUSAND UNITS)
             15.5.1 UAE
                        15.5.1.1 Government support to increase EV demand in market
                                     TABLE 173 UAE: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 174 UAE: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.5.2 EGYPT
                        15.5.2.1 Increasing development in electric vehicle infrastructure to strengthen market demand
                                     TABLE 175 EGYPT: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 176 EGYPT: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)
             15.5.3 SOUTH AFRICA
                        15.5.3.1 EV imports and popularization of EV charging stations to scale up market
                                     TABLE 177 SOUTH AFRICA: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2018–2021 (THOUSAND UNITS)
                                     TABLE 178 SOUTH AFRICA: PASSENGER CAR EV MARKET, BY PROPULSION TYPE, 2022–2030 (THOUSAND UNITS)

16 COMPETITIVE LANDSCAPE (Page No. - 236)
     16.1 OVERVIEW
     16.2 MARKET SHARE ANALYSIS FOR ELECTRIC VEHICLE MARKET
             TABLE 179 ELECTRIC VEHICLE MARKET SHARE ANALYSIS, 2021
             FIGURE 79 ELECTRIC VEHICLE MARKET SHARE ANALYSIS, 2021
     16.3 REVENUE ANALYSIS
             FIGURE 80 REVENUE ANALYSIS, 2021
     16.4 COMPETITIVE SCENARIO
             16.4.1 DEALS, 2019-2022
                        TABLE 180 DEALS, 2019–2022
             16.4.2 NEW PRODUCT LAUNCHES, 2019-2022
                        TABLE 181 NEW PRODUCT LAUNCHES, 2019–2022
             16.4.3 OTHERS, 2019–2022
                        TABLE 182 EXPANSIONS, 2019–2022
     16.5 EVALUATION QUADRANT FOR ELECTRIC VEHICLE MARKET
             16.5.1 STARS
             16.5.2 EMERGING LEADERS
             16.5.3 PERVASIVE
             16.5.4 EMERGING COMPANIES
                        FIGURE 81 ELECTRIC VEHICLE MARKET: COMPANY EVALUATION QUADRANT, 2021
                        TABLE 183 ELECTRIC VEHICLE MARKET: COMPANY FOOTPRINT, 2021
                        TABLE 184 ELECTRIC VEHICLE MARKET: APPLICATION FOOTPRINT, 2021
                        TABLE 185 ELECTRIC VEHICLE MARKET: REGIONAL FOOTPRINT, 2021
     16.6 COMPETITIVE EVALUATION QUADRANT, SME, AND STARTUPS
             16.6.1 PROGRESSIVE COMPANIES
             16.6.2 RESPONSIVE COMPANIES
             16.6.3 DYNAMIC COMPANIES
             16.6.4 STARTING BLOCKS
                        FIGURE 82 ELECTRIC VEHICLE MARKET: COMPETITIVE LEADERSHIP MAPPING SME, 2021
                        FIGURE 83 ELECTRIC VEHICLE MARKET: COMPETITIVE LEADERSHIP MAPPING STARTUPS, 2021
                        TABLE 186 EV MARKET: DETAILED LIST OF KEY STARTUPS
     16.7 RIGHT TO WIN, 2018-2021
             TABLE 187 RIGHT TO WIN, 2018-2021

17 COMPANY PROFILES (Page No. - 254)
(Business overview, Products offered, Recent developments & MnM View)* 
     17.1 KEY PLAYERS
             17.1.1 TESLA
                        TABLE 188 TESLA: BUSINESS OVERVIEW
                        FIGURE 84 TESLA: COMPANY SNAPSHOT
                        FIGURE 85 TESLA: VEHICLE DELIVERIES
                        TABLE 189 TESLA: PRODUCTS OFFERED
                        TABLE 190 TESLA: NEW PRODUCT LAUNCH
                        TABLE 191 TESLA: DEALS
                        TABLE 192 TESLA: OTHERS
             17.1.2 VOLKSWAGEN AG
                        TABLE 193 VOLKSWAGEN AG: BUSINESS OVERVIEW
                        FIGURE 86 VOLKSWAGEN AG: COMPANY SNAPSHOT
                        FIGURE 87 VOLKSWAGEN AG: 2030 TARGETS
                        FIGURE 88 VOLKSWAGEN AG: FUTURE PLANS
                        TABLE 194 VOLKSWAGEN AG: PRODUCTS OFFERED
                        TABLE 195 VOLKSWAGEN AG: NEW PRODUCT LAUNCH
                        TABLE 196 VOLKSWAGEN AG: DEALS
                        TABLE 197 VOLKSWAGEN AG: OTHERS
             17.1.3 SAIC MOTORS
                        TABLE 198 SAIC MOTORS: BUSINESS OVERVIEW
                        FIGURE 89 SAIC MOTORS: COMPANY SNAPSHOT
                        TABLE 199 SAIC MOTORS: PRODUCTS OFFERED
                        TABLE 200 SAIC MOTORS: NEW PRODUCT LAUNCH
                        TABLE 201 SAIC MOTORS: DEALS
                        TABLE 202 SAIC MOTORS: OTHERS
             17.1.4 BYD
                        TABLE 203 BYD: BUSINESS OVERVIEW
                        FIGURE 90 BYD: COMPANY SNAPSHOT
                        TABLE 204 BYD: PRODUCTS OFFERED
                        TABLE 205 BYD: NEW PRODUCT LAUNCH
                        TABLE 206 BYD: DEALS
                        TABLE 207 BYD: OTHERS
             17.1.5 STELLANTIS
                        TABLE 208 STELLANTIS: BUSINESS OVERVIEW
                        FIGURE 91 STELLANTIS: EV CURRENTLY AVAILABLE AND FUTURE PLANS
                        TABLE 209 STELLANTIS: PRODUCTS OFFERED
                        TABLE 210 STELLANTIS: NEW PRODUCT LAUNCH
                        TABLE 211 STELLANTIS: DEALS
             17.1.6 BMW GROUP
                        TABLE 212 BMW GROUP: BUSINESS OVERVIEW
                        FIGURE 92 BMW GROUP: COMPANY SNAPSHOT
                        FIGURE 93 BMW GROUP: ELECTRIFICATION PROGRESS
                        FIGURE 94 BMW GROUP: EVS SOLD OVER YEARS
                        TABLE 213 BMW GROUP: PRODUCTS OFFERED
                        TABLE 214 BMW GROUP: NEW PRODUCT LAUNCH
                        TABLE 215 BMW GROUP: DEALS
             17.1.7 NISSAN MOTORS
                        TABLE 216 NISSAN MOTORS: BUSINESS OVERVIEW
                        FIGURE 95 NISSAN MOTORS: COMPANY SNAPSHOT
                        FIGURE 96 NISSAN MOTORS: EV SOLD BY COUNTRY (BY COMPANY AND ITS PARTNERSHIPS)
                        TABLE 217 NISSAN MOTORS: PRODUCTS OFFERED
                        TABLE 218 NISSAN MOTORS: NEW PRODUCT LAUNCH
                        TABLE 219 NISSAN MOTORS: DEALS
                        TABLE 220 NISSAN MOTORS: OTHERS
             17.1.8 HYUNDAI GROUP
                        TABLE 221 HYUNDAI GROUP: BUSINESS OVERVIEW
                        FIGURE 97 HYUNDAI GROUP: COMPANY SNAPSHOT
                        FIGURE 98 HYUNDAI GROUP: BEV PLANS
                        TABLE 222 HYUNDAI GROUP: PRODUCTS OFFERED
                        TABLE 223 HYUNDAI GROUP: NEW PRODUCT LAUNCH
                        TABLE 224 HYUNDAI GROUP: DEALS
             17.1.9 GREAT WALL MOTORS
                        TABLE 225 GREAT WALL MOTORS: BUSINESS OVERVIEW
                        FIGURE 99 GREAT WALL MOTORS: COMPANY SNAPSHOT
                        TABLE 226 GREAT WALL MOTORS: PRODUCTS OFFERED
                        TABLE 227 GREAT WALL MOTORS: NEW PRODUCT LAUNCH
                        TABLE 228 GREAT WALL MOTORS: DEALS
             17.1.10 TOYOTA MOTOR CORPORATION
                        TABLE 229 TOYOTA MOTOR CORPORATION: BUSINESS OVERVIEW
                        FIGURE 100 TOYOTA MOTOR CORPORATION: COMPANY SNAPSHOT
                        FIGURE 101 TOYOTA MOTOR CORPORATION: BEV INVESTMENT
                        TABLE 230 TOYOTA MOTOR CORPORATION: PRODUCTS OFFERED
                        TABLE 231 TOYOTA MOTOR CORPORATION: NEW PRODUCT LAUNCH
                        TABLE 232 TOYOTA MOTOR CORPORATION: DEALS
             17.1.11 GAC MOTORS
                        TABLE 233 GAC MOTORS: BUSINESS OVERVIEW
                        FIGURE 102 GAC MOTORS: COMPANY SNAPSHOT
                        TABLE 234 GAC MOTORS: PRODUCTS OFFERED
                        TABLE 235 GAC MOTORS: NEW PRODUCT LAUNCH
                        TABLE 236 GAC MOTORS: DEALS
             17.1.12 RENAULT GROUP
                        TABLE 237 RENAULT GROUP: BUSINESS OVERVIEW
                        FIGURE 103 RENAULT GROUP: COMPANY SNAPSHOT
                        FIGURE 104 RENAULT GROUP: BEV RANGE
                        TABLE 238 RENAULT GROUP: PRODUCTS OFFERED
                        TABLE 239 RENAULT GROUP: NEW PRODUCT LAUNCH
                        TABLE 240 RENAULT GROUP: DEALS
     *Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies. 
     17.2 OTHER KEY PLAYERS
             17.2.1 GEELY
                        TABLE 241 GEELY: BUSINESS OVERVIEW
             17.2.2 GENERAL MOTORS
                        TABLE 242 GENERAL MOTORS: BUSINESS OVERVIEW
             17.2.3 RIVIAN
                        TABLE 243 RIVIAN: BUSINESS OVERVIEW
             17.2.4 FISKER
                        TABLE 244 FISKER: BUSINESS OVERVIEW
             17.2.5 LUCID MOTORS
                        TABLE 245 LUCID MOTORS: BUSINESS OVERVIEW
             17.2.6 FORD MOTOR COMPANY
                        TABLE 246 FORD MOTOR COMPANY: BUSINESS OVERVIEW
             17.2.7 BAIC MOTORS
                        TABLE 247 BAIC MOTORS: BUSINESS OVERVIEW
             17.2.8 MITSUBISHI MOTORS
                        TABLE 248 MITSUBISHI MOTORS: BUSINESS OVERVIEW
             17.2.9 CHERY
                        TABLE 249 CHERY: BUSINESS OVERVIEW
             17.2.10 JAC
                        TABLE 250 JAC: BUSINESS OVERVIEW
             17.2.11 ZOYTE
                        TABLE 251 ZOYTE: BUSINESS OVERVIEW
             17.2.12 DAIMLER AG
                        TABLE 252 DAIMLER AG: BUSINESS OVERVIEW
     17.3 KEY STARTUPS
             17.3.1 XPENG
                        TABLE 253 XPENG: BUSINESS OVERVIEW
             17.3.2 BYTON
                        TABLE 254 BYTON: BUSINESS OVERVIEW
             17.3.3 NIKOLA CORPORATION
                        TABLE 255 NIKOLA CORPORATION: BUSINESS OVERVIEW
             17.3.4 ALTCRAFT MOTOR COMPANY
                        TABLE 256 ALTCRAFT MOTOR COMPANY: BUSINESS OVERVIEW
             17.3.5 NIO
                        TABLE 257 NIO: BUSINESS OVERVIEW
             17.3.6 FARADAY FUTURE
                        TABLE 258 FARADAY FUTURE: BUSINESS OVERVIEW
             17.3.7 LEAP MOTORS
                        TABLE 259 LEAP MOTORS: BUSINESS OVERVIEW
             17.3.8 WM MOTORS
                        TABLE 260 WM MOTORS: BUSINESS OVERVIEW
             17.3.9 FRESCO MOTORS
                        TABLE 261 FRESCO MOTORS: BUSINESS OVERVIEW
             17.3.10 LORDSTOWN MOTORS
                        TABLE 262 LORDSTOWN MOTORS: BUSINESS OVERVIEW

18 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 316)
     18.1 ASIA PACIFIC TO BE KEY FOCUS AREA FOR ELECTRIC VEHICLE MARKET
     18.2 TECHNOLOGICAL ADVANCEMENTS TO HELP DEVELOP MARKET FOR EV PASSENGER CARS
     18.3 MINI-EVS AND OTHER LOW-PRICED EVS TO GROW IN DEMAND
     18.4 SOUTHEAST ASIA TO BE PROSPECTIVE HUB OF EV MANUFACTURING
     18.5 CONCLUSION

19 APPENDIX (Page No. - 318)
     19.1 KEY INSIGHTS OF INDUSTRY EXPERTS
     19.2 DISCUSSION GUIDE
     19.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     19.4 AVAILABLE CUSTOMIZATIONS
     19.5 RELATED REPORTS
     19.6 AUTHOR DETAILS

The study involved four major activities in estimating the current size of the electric vehicle 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), Alternative Fuel Data Center (AFDC), European Alternate Fuels Observatory (EAFO), 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 segment and forecast the electric vehicle market size in terms of volume (thousand units)
  • To define, describe, and forecast the EV market based on charging point type, propulsion type, vehicle type, vehicle class, vehicle top speed, vehicle drive type, component, vehicle connectivity, end use, and region
  • To segment the electric vehicle 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 point type [AC (normal charging) and DC (super charging)]
  • 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 (low-priced, mid-priced, and luxury)
  • To segment and forecast the EV market based on vehicle top speed (<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 segment and provide qualitative insights into the market based on vehicle connectivity (V2B or V2I, V2G, V2V, V2X)
  • To segment and forecast the market based on end use (private, commercial fleets)
  • 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 provide detailed information regarding the major factors influencing the market growth (drivers, challenges, restraints, and opportunities)
  • To strategically analyze markets with respect to individual growth trends, future prospects, and contribution to the total market
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • To track and analyze competitive developments such as deals, new product developments, 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.

  • Further breakdown of the electric vehicle market, by vehicle drive type at country level (for countries present in the report)
  • Further breakdown of the electric vehicle market, by vehicle top speed at country level (for countries present in the report)

Company Information

  • Profiles of additional market players (up to 5)
Report Code
AT 4907
Published ON
Apr, 2022
REQUEST FREE SAMPLE REPORT
Choose License Type
BUY NOW
Request New Version
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Electric Vehicle Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2022 MarketsandMarkets Research Private Ltd. All rights reserved