Impact of Covid-19 Outbreak on Global EV and EV Infrastructure Market 2020 Share, Trend, Segmentation and Forecast to 2026

Impact of Covid-19 Outbreak on Global EV and EV Infrastructure Market 2020 Share, Trend, Segmentation and Forecast to 2026

“EV and EV Infrastructure Market”
WiseGuyReports.com adds “Global EV and EV Infrastructure Market Size, Status and Forecast 2020-2026” reports to its database.

EV and EV Infrastructure Market:

Executive Summary

EV and EV Infrastructure are the latest technology shifting the fuel source of the automobiles from petroleum to Electricity. These electric vehicles have batteries installed which power the engine of the vehicles and the batteries are charged through electric charging stations. High emission levels from petroleum cars and high petroleum prices drive the market for EV and EV infrastructure. As these high emissions of hazardous gases harm the environment. The rising environmental concerns and climate change fuels the adoption of EV and EV infrastructure during the forecast period. Further, increasing government initiatives such as subsidies and tax benefits along with strict environmental norms to reduce the total emissions drives the market growth. However, because of the COVID-19 outbreak, the global automobile industry is facing a slowdown due to the lockdown in several countries that has restricted the production of electric vehicles. The operations of some companies affected by COVID-19 epidemics include Nissan Motor Co., Kia Motors Corp., BMW AG, Daimler AG, and Tesla, Inc. For Instance: In March 2020, Tesla Inc. suspended production at its San Francisco Vehicle Factory. This impacted the company not only in its production losses but also the shares of the company were down by 8% in after hours following the announcement. Moreover, the company also followed the suspension orders for their California plant. The auto factory of the Tesla employed more than 10,000 workers with annual production of more than 415 thousand units by the end of December 2019. Additionally, in April 2020, Volkswagen restarted two of its production plants after around 5 weeks of shutdown. One of the plants situated in Saxony, Germany would cautiously resume production of its All electric model ID.3. the company has slowly started production with an output of 50 vehicles per day which is 3 times lower than the conventional output. Moreover, BMW extended the shutdown of tis plants in Europe and North America until the end of April 2020. Most of these companies have shut down their electric vehicle production facilities and shifted their focus towards the manufacturing of personal protective equipment. However, the government stimulus packages could aid the EV and EV infrastructure market survive the COVID-19 crisis as governments across the globe are investing heavily in charging infrastructures. lack of a skilled workforce impedes the growth of the market over the forecast period of 2020-2026.

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The regional analysis of global EV and EV Infrastructure market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the large production bases in the region coupled with the high adoption rate of EVs. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rising disposable income coupled with increasing government initiatives and investments would create lucrative growth prospects for the EV and EV Infrastructure market across Asia-Pacific region.

Major market player included in this report are:
Tesla Inc. (US)
Build Your Dreams CO. LTD (BYD) (China)
Bavarian Motor Works (BMW) AG(Germany)
Volkswagen Group (Germany)
Nissan Motor Co., Ltd.(Japan)
LG Chemical Ltd. (S. Korea)
Panasonic Corporation (S. Korea)
Robert Bosch GmbH (Germany)

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Vehicle:
Passenger Cars
Commercial Vehicles

By Propulsion:
BEV
PHEV
FCEV

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026

Target Audience of the Global EV and EV Infrastructure Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Continuous…

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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

 

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