Global Electric Vehicle Market Estimated to Grow From USD 118.4 Billion in 2016 at a CAGR of 14.3% over the Forecast Period 2016-2024

Posted on 2018-09-25 by Goldstein Research in Automotive // 0 Comments

New York, USA, 2018-Sep-25 — /EPR Network/ —According to Goldstein Research, global electric vehicle market size is projected to reach USD 346.3 billion by 2024 from an estimate of USD 118.4 billion in 2016, growing at a compounded annual growth rate of 14.3% during the forecast period 2016-2024. Electric two wheelers and trucks have been deployed in the market and it is certainly gaining traction. Various automotive companies have announced the launch of their electric cars such as Tesla and the government initiative towards the adoption of EVs is accelerating the growth of the global electric vehicle industry.

Global electric vehicle market segmentation has been carried out on the basis of technology type, vehicle type and geography. In 2016 the global electric vehicle stock had reached 2 million units. Though the market is in nascent stage but the government efforts are leading to rise in sales, such as in China where conventional scoter are banned by the government in order to promote electric scooter. Global electric vehicle market is largely driven by Asia Pacific with a revenue share of 35% in 2016, closely followed by the Europe region with +28% market share.

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Market Segmentation

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

By Technology Type

Hybrid cars
Plug-in Hybrid Cars
Battery Electric Vehicles

By Vehicle Type

Passenger Cars
Commercial Vehicles
Two Wheelers
Others (ATVs etc.)

By Region

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

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“Global Electric Vehicle Market Outlook 2024”contains detailed overview of the global electric vehicle market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by technology type and vehicle type.

Further, for the in-depth analysis, Global Electric Vehicle Market Report encompasses the market 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 asNissan Motor Corporation Ltd., Pioneer Corporation, Honda Motor Co., Ltd., Toyota Motor Corporation, Tesla Motors, Inc., Ford Motor Company, BayerischeMotorenWerke AG, General Motors, Daimler AG, Volkswagen AG, BYD Company Motors, Mitsubishi Motors Corporation, Geely Group, Polaris, Ingersoll Rand, GroupePsa,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 vehiclemarket trends along with market forecast that will help market 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.

Key questions answered in this Global Electric VehicleReport

What is the Global Electric Vehicle Market Size by 2024 and what would be the expected growth rate of the market?
What is the total revenue per segment and region in 2015-16 and what would be the expected revenue per segment and region over the forecast period?
What are the electric vehicle market trends?
What are the factors which are driving this market?
What are the major barriers to electric vehicle market growth?
Who are the key vendors in this market space?
What are the market opportunities for the existing and entry level players?
What are the recent developments and business strategy of the key players?

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Our analysts working on automotive industry market research report to help various tech-giants, tech start-ups and entry players to assess the current and upcoming business scenario. We believe in vigorous examination of the current industry scenario and build around creative ideas and approaches that are most suitable to our clients’ needs and business agenda.

Market Segmentation

By Technology Type

By Vehicle Type

By Region

About Goldstein Research

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