WGR Research anticipates a REDACTED revenue for passenger EV market by 2024. Although, the Electric Scooters holds the largest share in terms of unit sales in overall EV market, passenger EV segment holds the highest share in terms of revenue among all the EV segments. The major growth of the EV market in terms of revenue is from the increasing passenger vehicles due to the increasing unit sales and higher unit sale cost compared to the electric scooters.
In 2018, it was estimated that over 56 million battery-powered scooters and e-bikes were added. This figure is significantly higher as compared to unit sales of all other segments. The shipments for scooters/ e-bikes are expected to grow to REDACTED by 2024, mainly based on expanded sales outside of China, especially in India. As of 2018, it was estimated that a total of over 300 million electric scooters were on road and most of them were powered using lead-acid batteries.
Based on region, Asia-pacific leads the electric vehicles market across the world. In Asia-Pacific region, China leads the Asia-Pacific region and the leads the world market in terms of unit sales of electric cars/ passenger cars. It is followed by Europe and the United states in terms of passenger car unit sales. China also leads the world market in electric scooters market in terms of unit sales and revenue.
WGR Research also analyzed the rapidly recovering Fuel cell electric vehicle (FCEV) market. It is estimated that FCEV to grow to REDACTED annually by 2024. This will be very close to the tipping point,where refueling infrastructure becomes economical using reasonable near-term assumptions. In 2018, itwas estimated that around 2,900 new Fuel cell passenger vehicle units were added. In total, it wasestimated that around 11,200 Fuel cell passenger car units were in use, as of 2018.
After decades of expensive development and false starts, the world is finally ready for EVs. For the purpose of this report, the term “electric vehicles” includes commercial approaches such as pure battery-powered, plug-in hybrid, hybrid internal combustion/battery, range extended, and FCVs, as well as vehicles powered by developmental power sources such as supercapacitors and flywheel. In addition to cars and trucks, this report considers motorcycles/ E-Bikes, scooters, buses, neighborhood EVs, self-driving carts, military vehicles, and locomotives.
This report details actual figures for 2018 and compound annual growth rate (CAGR) projections for 2019 through 2024 for the global and four regional markets. Although this report discusses about three future scenarios, pessimistic, consensus and optimistic, forecasts are provided for consensus scenario. Power source sales and values are provided. A patent analysis and discussion of power sources and vehicle components describes the areas in which research is being performed and emphasizes intellectual property issues.
Note that values are expressed in million dollars and shipments are expressed in 1,000 vehicles. In both cases, totals are rounded to the nearest integer (i.e., less than $500,000 is expressed as 0.)
Values are based on the equivalent of wholesale, or the price charged to the retailer prior to mark-up. However, advanced EVs are sold at a price below actual manufacturing cost. This may be due to regulatory compliance or the desire to establish a market before economics of scale kicks in. The cost to consumers may be reduced considerably when government subsidies or possible tax breaks are added to the dealer price.
As defined by BCC Research for this report, EVs and FCVs include the following –
– EVs (pure EVs).
Specific types of vehicles using these batteries include –
– Passenger vehicles (sedans, microcars, SUVs, crossover SUVs, pickup trucks, sports cars).
– Low-velocity vehicles (golf carts, neighborhood EVs, personal mobility devices).
– Scooters (two-wheelers, motorcycles, some three-wheelers).
– Commercial/industrial vehicles (material handling equipment, burden carriers, forklifts, trucks).
– Niche vehicles (self-driving vehicles, military equipment, locomotives).
This report defines the market sectors, identifies leading companies and analyzes the markets to provide a five-year market forecast. Finally, the company profiles section provides the status of and recent events for companies making power sources.
– 75 data tables and 67 additional tables
– Descriptive study of the global markets for electric vehicles (EVs) and fuel cell vehicles (FCVs)
– Analyses of global market trends with data from 2018, estimates for 2019, and projections of compound annual growth rates (CAGRs) through 2024
– Data corresponding to market value and unit shipments of commercially viable EVs, including hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and pure battery-powered electric vehicles (BEVs)
– Summary of details pertaining to power sources that make these vehicles possible, including lead-acid, nickel-metal hydride, lithium-ion batteries, and proton-exchange membrane fuel cells
– Identification of the companies that are best positioned to meet this demand because of their proprietary technologies, strategic alliances or other advantages
– Company profiles of leading market participants within the industry, including Automotive Fuel Cell Cooperation Corp., Bae Systems, China Motor Corp., Ferrari, General Motors, Harley Davidson, Hyundai Motor, Mitsubishi, Nissan Motor Co., Skoda, Tata Motors, and YamahaAC PROPULSION
Mentioned Key Players :
Aixam Production (Polaris Industries)
Astonbus Usa, Inc.
Automotive Fuel Cell Cooperation Corp.
Bentley Motors Inc.
Blue Sky Design Llc
Bmw (Rolls-Royce, Mini)
Boulder Electric Vehicle
Bredamenarinibus (Industrial Italian Auto Bus)
Byd Company Ltd.
China Faw Group Corp.
China Motor Corp.
Chrysler (Subsidiary Of Fiat Chrysler Automobiles Nv)
Club Car (Ingersoll Rand)
Columbia Vehicle Group (Parcar)
Currie Technologies (Accell Group)
Daf Trucks (Paccar)
Daimler (Mercedes-Benz, Smart, Mitsubishi Fuso, Orion Bus Industries/Daimler Buses North America)
Designline Bus Pacific
Dolomitech Advanced Propulsion
Dongfeng Motor Company
Electric Vehicles International (First Priority Greenfleet)
Environmental Performance Vehicles (Evp Corp.)
Fine Mobile Gmbh
Fisker Automotive (Wanxiang Group)
Ford Motor Co. (Lincoln, Mercury)
General Dynamics Land Systems
General Motors (Chevrolet And Cadillac)
International Fuel Cells Collaborative
Kia Motors (Hyundai)
Ktm Power Sports Ag (Ktm Group)
Lightning Car Company
Lito Green Motion
Lujo Ev R&D
Malone Car Co.
Mantra Venture Group
Motor Coach Industries
National Electric Vehicle Sweden Ab (Nevs)
Navistar (International Truck And Engine & Ic Bus)
New Flyer Industries
Nissan Motor Co. (Infiniti And Nissan Forklift)
Oka Auto Usa (Mirox Corp.)
Parry People Movers
Polaris (Global Electric Motor Cars)
Railpower Technologies (Corman Railroad Group)
Renault And Renault Trucks
Roewe (Shanghai Automotive Industry Corp./Saic)
Scoot (Panther Motors)
Shenzhen Byd Daimler New Technology (Denza)
Solaris Bus And Coach
Suzuki Motor Corp.
Thunder Sky Energy Group (Winston)
Toyota (Toyota, Lexus And Scion)
Xinri E-Vehicle Co.
Z Electric Vehicle Corp.
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