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Global Electric Passenger Vehicle Market (2024-2030)
Publishing Date: October 2023
Length: 35 Pages
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Report Overview
Table of Content
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According to a recent research study conducted by Applied Researches, the Global Electric Passenger Vehicle Market is set to register around 14.71% CAGR during 2022-27. The favourable government initiatives towards reducing net carbon emissions, rising consumer awareness about the adverse effects of using Internal Combustion Engine (ICE) vehicles, low maintenance costs associated with EVs, advancements in battery manufacturing processes & techniques, among others, have driven the demand for electric passenger vehicles across the globe.
In addition, several governments across the world have been strategically providing numerous incentives in the form of low or zero registration fees, rebates, tax cuts, including exemptions from import taxes, purchase taxes, and road taxes which has catalyzed the adoption of EVs throughout the world. Notably, the share of ICE passenger car fleet still dominates in the global passenger vehicle fleet which shows huge potential for electric passenger vehicle to be deployed in the upcoming years. Therefore, the rising electrification of passenger cars around the world would accelerate the demand for new electric passenger vehicles during 2022-27.
Key Questions Answered
- What are the current & future trends in the Global Electric Passenger Vehicle Market?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition been shaping across various regions, followed by their competitive landscaping?
- What are the key growth drivers & challenges for the Global Electric Passenger Vehicle Market?
- What are the customer orientation, purchase behavior, and expectations from the leading electric passenger vehicle manufacturers across various regions?
Market Segmentation
- By Propulsion Type (Battery Electric Passenger Vehicle (BEV), Fuel Cell Electric Passenger Vehicle (FCEV), Plug-In Hybrid Electric Passenger Vehicle (PHEV), and Hybrid Electric Passenger Vehicle (HEV))
- By Power Output (Less Than 100kW, 100 kW to 250 kW, and More than 250 kW)
- By Region (North America, South America, Europe, Middle East & Africa, and Asia-Pacific)
- By Company (Tesla, Inc., Volkswagen AG, SAIC Motor, BYD Auto Co., Ltd., Stellantis N.V., The General Motors Company, Toyota Motor Corporation, Great Wall Motor Co., Ltd., BMW, Ford Motor Company)
