Global Electric Vehicle Market To Expand At A CAGR of 15.3% Over the Forecast Period 2016-2024

According to Goldstein Research, adoption of electric vehicles is majorly motivated by several factors, including strong technological progress in battery technology, cost reductions, purchase incentives, and government strategy supports and advanced charging infrastructure development.  Further, automotive OEMs also announced the electric vehicle deployment targets. These OEMs included Tesla which is aiming to deploy around 1 million electric cars by 2020 and Volkswagen also unveiled the plans for a significant shift towards the production of electric vehicles.

Global electric vehicle market share report also includes new business models, product developments and capital investment as the key strategies adopted by the major players for the significant expansion of business in developed and as well as in developing countries across the globe. For instance, in total, the automotive industry is anticipating 127 battery-electric models to be announced globally over the next five years. Current investments by major automotive OEMs and acquisitions by energy companies indicate that more energy players are taking action on the necessity of establishing a foothold in EV charging infrastructure.

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


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Electric Vehicle Industry Statistics & Challenges

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

Further, for the in-depth analysis, Global electric vehicle market forecast 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 Nissan Motor Corporation, Honda Motor Co., Ltd., Toyota Motor Corporation, Tesla Motors, Inc., Ford Motor Company, Bayerische Motoren Werke AG, General Motors and Daimler AG 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 vehicle market trends along with the 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.

About Goldstein Research

Based in the US, Goldstein Research is a market forecast & growth analysis company and currently has a strong presence in the American and Asian countries. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions.

Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear-cut forecasts. Our market research reports provide in-depth analysis of global and regional variations along with competitors’ overview. Our analysts working on automotive industry reports helping various tech-giants, tech start-ups and entry players to assess the current and upcoming business scenario. We believe in the rigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable for our clients’ needs and business agenda.

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