Electric Vehicle Market Forecast 2020 – 2027 – Top Key Players Analysis


Posted October 29, 2020 by shaqibakram

The rigorous government policies toward vehicle emission, growing demand for high-performance and fuel-efficient vehicles, along with the rising awareness to decrease oil consumption globally...

 
GMI Research market report focuses on providing an overview of the industry through detailed market segmentation. The report has information related to the overview and scope of the market followed by the key drivers, restraints, and emerging trends in the market. This report is especially designed to include both qualitative and quantitative aspects of the industry in each region and country included in the study.

List of Significant Manufacturers in the Electric Vehicle Market include:

Tesla, Inc.
BYD Company Limited
Nissan Motor Company
BMW Group
Volkswagen AG
Volvo Group
Daimler AG
Honda Motor Co., Ltd.
Toyota Motor Corporation
Ford Motor Company
Hyundai Motor Company
Continental Engine
BAIC Motor Corporation, Ltd.
General Motors Company
Electric Vehicle Market Drivers and Restraints:

The rigorous government policies toward vehicle emission, growing demand for high-performance and fuel-efficient vehicles, along with the rising awareness to decrease oil consumption globally, are the key factors surging the growth of the electric vehicle market. Furthermore, the increasing investment in the manufacturing of electric vehicles by major players, including General Motors Company, Nissan Motor Company, BMW Group, Hyundai Motor Company, BAIC Motor Corporation, and Daimler AG, among others, will further boost the growth of the electric vehicle market over the upcoming years. Moreover, the growing convenience of consumers, include home charging options for electric vehicles, followed by the use of renewable energy sources, such as a solar photovoltaic system to recharge electric vehicles, will further upsurge the demand for the electric vehicle market.

The rising trend towards more eco-friendly production of electric vehicles and its components with the use of recycled materials and bioplastics will attract consumer interest towards buying electric vehicles. Many organization including LEVA (The Light Electric Vehicle Association), EVI (Electric Vehicle Initiative), WEVA (World Electric Vehicle Association), SMEV (Society of Manufacturers of Electric Vehicles), and EAA (Electric Auto Association) are supporting the growth and development of electric vehicles globally, which will further propel the adoption of electric vehicles. On the other edge of the spectrum, lack of charging infrastructure, and the high cost of electric vehicles will hinder the growth of the global electric vehicle market.

Segmentation: Electric Vehicle Market

Electric Vehicle Market: By Product Type

Battery Electric Vehicles (BEV)
Plug-in Hybrid Electric Vehicles (PHEV)
Fuel Cell Electric Vehicles (FCEV)
Electric Vehicle Market: By Vehicle Type

Two-Wheelers
Passenger Cars
Commercial Vehicles
Electric Vehicle Market: By Vehicle Class

Mid-Priced
Luxury
Electric Vehicle Market: By Charging station Type

Normal
Super
Electric Vehicle Market: By Two-Wheelers Battery Type

Lithium-ion Battery
Lead Acid Battery
Electric Vehicle Market: By Region

North America
o United States of America

o Canada

Asia Pacific
o China

o Japan

o India

o Rest of APAC

Europe
o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

RoW
o Brazil

o South Africa

o Saudi Arabia

o UAE

o Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting firm which provides bespoke industry & market research to help businesses in making the toughest business decision. We know the significance of accurate data; that’s why our analyst uses a tailored methodology to study every market in detail because one size doesn’t fit all. We not only cover the traditional well-established market but also focuses on the niche market and markets in the emerging economies, where getting data and information is a challenge. This factor makes us pioneer in emerging market research space. Our syndicate reports cover multiple industries across various regions and countries.

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Last Updated October 29, 2020