According to Goldstein Research, global electric passenger vehicle market is expected to reach USD 312.2 billion by 2024from USD 92.3 billion in 2015, growing at a CAGR of 16.4% over the forecast period 2016-2024.Technological advancement associated with electric vehicle batteries is fuelling the growth of electric vehicle passenger market. Electric passenger vehicle market segmentation has been carried out on the basis of technology and vehicle types. Hybrid vehicles market is expected to grow significantly in the regions where electric vehicles charging infrastructure is not developed such as Brazil, India, Russia and others.

Global electric passenger vehicle market is dominated by China in terms of volume, with more than 40% of the electric vehicles sales globally, which is twice the units of cars sold in the United States. Norway has the highest adoption rate of 29% of electric passenger vehicles in 2015 in terms of deployment of electric vehicles.

Market Segmentation
On the basis of our in-depth analysis, Global Electric Passenger VehicleMarket can be segmented as follows:

• By Technology Type

o Hybrid cars
o Plug-in Hybrid Cars
o Battery Electric Vehicles

• By Vehicle Type

o Four Wheelers
o Two Wheelers

• By Region

o North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
o Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of the Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

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“Global Electric Passenger Vehicle Market Outlook 2024” contains a detailed overview of the global electric passenger vehicle market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by technology and by vehicle types.
Further, for the in-depth analysis, Global Electric Passenger Vehicle Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Tesla Motors, Nissan Motor, BMW Ag, General Motors, The Geely Group, Volkswagen, BYD Co. Ltd., Ford, Mitsubishi, Polaris, Ingersoll Rand, Mercedes-Benz, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments.

Overall, the report represents the global electric passenger vehicle market trends along with a market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

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