The electric vehicle market collectively accounted for 1,043,000 units in 2016 and is expected to reach 285,188,000 units by 2030. Governments of various countries are very focused on increasing sales of electric vehicles to reduce the level of pollution and hence the global warming. Manufacturers rolling out new models and charging infrastructure are accelerating. The market is expected to witness immense growth during the forecast period.
In the report “Electric Vehicle Market: By Types (BEV, HEV, PHEV); by modules (body and chassis, powertrain, infotainment, safety and security); by geography (Americas, Europe, Asia-Pacific, RoW) – Forecast (2018 to 2023) “, published by IndustryARC, the market will be driven by development and advanced batteries over the next decades.
Electrification is the most viable way to achieve clean and efficient transportation that is essential for sustainable development around the world. Current split of the year says electric vehicle technology, including hybrid electric vehicles (HEV), plug-in hybrid electric vehicles (PHEV) and pure battery electric vehicles (BEV), will dominate the clean vehicle market .
Asia-Pacific Dominates with Significant Growth in Electric Vehicle Market
Geographically, the Electric Vehicles market is present in the regions of North America, Europe, Asia-Pacific and the rest of the world. New advocacy for cars increased by 70% compared to 2016. In 2016, more than 550,000 vehicles were adopted worldwide, which include both battery electric vehicles and plug-in hybrid vehicles. Research indicates that China is expected to expand its leadership in the industry by making gains in all dimensions of electric vehicles on the supply side, including the current planned production of electric vehicles and their components. Overall, Germany and the United States of America also perform well in the industry, with a number of major changes in the production of electric vehicles. These countries have experienced a slight decline in the market, due to the production of electric motors due to the expansion of China.
Sales analysis performed in the full report:
Sales of larger capacity batteries increased. Note that direct reuse is always cheaper than batteries in a similar productivity environment. PHEV is preparing for sale and should offer the best price. The concept of pricing gives you an idea of the estimated price of the current market, as the advancement of electric motor transmission batteries is under major development. Expansion and product launch will elucidate establishment costs and electric cars to maintain longer.
Type selected and application analysis performed in the full report:
The adoption of electric vehicles is the result of several factors, including strong technological advancements, cost reductions and political support, including incentives to purchase, benefits for driving and parking access, and a increased availability of public charging infrastructure. BEVs dominated sales over hybrid cars in most countries until 2015. But plug-in vehicle (PHEV) sales have grown rapidly over the past two years and, at present, the market for plug-in vehicles. PHEV is almost equal to the sales of BEV in the world. PHEVs have a huge range of benefits due to the continuous improvement in battery performance and the ability to lower driving costs to achieve maximum market share.
Excerpts on market growth factors
After the diesel emissions scandal in the city of California, Electrify America invested $ 44 million to bring hundreds of electric vehicles to the city. The project includes 260 electric vehicles. Vehicles can locate nearby cars with an app and drive them anywhere within a 13 square mile radius. The vehicles will be available in early 2019.
ISRO has announced the launch of its major lithium-ion cell technology project to drive adoption of a non-exclusive basis for use in automobiles. This initiative will accelerate the development of the local electric vehicle industry.
The growing adoption of electric cars is creating new opportunities for Volkswagen. He says quantum computing technology could help build custom batteries, with a chemical blueprint that will accelerate the development and production of electric vehicle batteries. This will allow a specialized and customized car battery to be built for future green cars.
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Key players in the electric vehicle market
At present, progress is the key strategy driving the market, accounting for around 44% of the total strategies adopted by major players. Major players featured in this report include Tesla, BMW Group, Nissan Motor Corporation, Toyota Motor Corporation, Volkswagen AG, General Motors, Dailmer AG, and Energica Motor Company SPA. These are the main market players who are focused on expanding their business operations in emerging countries. . Among all the continents, APAC is the emerging region on which investors are focusing more to introduce innovative solutions. Some of the electric cars well established in the current market are Tesla Model S, Nissan Leaf, BMW i3, Mitsubishi iMiEV, Ford Focus EV; these are BEV models available. BMW i3 REX, BMW i8, Cadillac ELR, Ford Fusion Energi, Ford Cmax Energi, Toyota Prius Plugin and others are the PHEV type models available. Audi Q5 Hybris, Acura ILX Hybrid, Cadillac escalade Hybris, BMW Active Hybrid 3 and others are HEV type models available.
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What can you expect from the report?
The Electric Vehicle Market report is prepared with the main agenda to cover the following 20 points:
1. Market size by product categories and applications 11. Demand analysis (revenue and volume)
2. Market trends and relevant market data 12. Country level analysis
3. Landscape of Manufacturers 13. Analysis of Competitors
4. Distributor landscape 14. Market share analysis
5. Price analysis 15. Value chain analysis
6. Analysis of the top 10 end-users 16. Analysis of the supply chain
7. Product benchmarking 17. Strategic analysis
8. Product developments 18. Analysis of current and future market landscape
9. Analysis of mergers and acquisitions 19. Analysis of opportunities
10. Patent analysis 20. Revenue and volume analysis
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