Electric Vehicle Market Report: Trends, Forecast and Competitive Analysis

The future of the global electric vehicle market looks promising with opportunities in battery, hybrid, and plug-in-hybrid electric vehicle markets. The global electric vehicle market is expected to grow with a CAGR of 29% from 2021 to 2026. The major drivers for this market are increasing fuel prices, government subsidies as tax benefits to promote electric vehicles, and growing concerns for environmental pollution.
Emerging trends, which have a direct impact on the dynamics of the market, include development of wireless charging infrastructure and introduction of multiple long-range EVs with low cost.
A total of 120 figures / charts and 104 tables are provided in this 200-page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope, benefits, companies researched, and other details of the global electric vehicle market report, please download the report brochure.
 

 

The study includes a forecast for the global electric vehicle market by propulsion type, by vehicle type, by component type, and region, as follows:

 

By Propulsion Type [Volume (Million Units) and $B shipment analysis for 2015 – 2026]

• Battery Electric Vehicles
• Hybrid & Plug-in-Hybrid Electric Vehicles

By Vehicle Type [Volume (Million Units) and $B shipment analysis for 2015 – 2026]

• Small Car
• Compact Car
• Mid-size Car
• Luxury Car
• SUVs & Crossover
• Others

By Component Type ($ Billion from 2015 to 2026)

• Independent Drive Component
• Battery
• Motor and Gearbox
• Charger
• Others

By Region [Volume (Million Units) and $B shipment analysis for 2015 – 2026]

• North America
• US
• Canada
• Mexico
• Europe
• Norway
• Germany
• United Kingdom
• France
• The Netherlands
• Asia Pacific
• China
• Japan
• Korea
• Australia
• India
• The Rest of the World
• Brazil
• South Africa
• Chile

Some of the electric vehicle companies profiled in this report include Tesla, General Motors, Nissan Motor, Mitsubishi, Volkswagen, BMW, Ford, Mercedes Benz, Hyundai, and Kia Motor.
Lucintel forecasts that battery electric vehicle will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to the consumers’ demand for zero emission vehicles, and decreasing electric vehicle battery cost.
Within the electric vehicle market, compact car will remain the largest vehicle type and it is expected to witness the highest growth over the forecast period due to increasing features such as, improvement in vehicle range per charge and charging infrastructure.
Asia Pacific will remain the largest region and it is also expected to witness the highest growth over the forecast period due to growing concerns on environmental pollution, government subsidies and tax rebates, and heavy investment from automaker in electric vehicle development.