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Electric Vehicle Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2050

Global Electric Vehicle Market- (By Type – Battery Electric Vehicle, Fuel Cell Electric Vehicle, Plug-in Hybrid Electric Vehicle and Others; By Vehicle Type – Commercial Vehicle, Passenger Car and Others; By Charger – Normal and Fast; By Power Output – Less than 100 KW, 100-250 KW, and Others; and By Region) - Industry Dynamics, Market Size and Opportunity Forecast, 2050

  • Published On: 08-Feb-2022  |  Format: pdfpowerpointexcel  |  Report ID: AA0221063
    Delivery: 2 to 4 Hours
INFOGRAPHIC:
Electric Vehicle Market

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REPORT SCOPE

Report AttributeDetails
Market Size Value in 2021US$ 229.8 Bn
Expected Revenue in 2050US$ 72,798 Bn
Historic Data2017-2020
Base Year2021
Forecast Period2022-2050
UnitValue (USD Bn)
CAGR21.99%
Segments coveredBy Type, Vehicle Type, Charger, Power Output, and Region
Key CompaniesTesla Motors, BYD Company Motors, BMW Group, Nissan Motor Corporation, and other prominent players.
Customization ScopeGet your customized report as per your preference. Ask for customization

FREQUENTLY ASKED QUESTIONS

Electric vehicle runs on electricity alone and employs an electric motor instead of combustion engine. 

Less air pollution, less noise pollution, higher efficiency, low maintenance cost, and low fuel and operating costs are some of the benefits associated with electric vehicles. 

Gas-powered vehicles are declining as gas is non-renewable source of energy and doesn’t promote sustainable development.

The Global Electric Vehicle Market was valued at US$ 229.8 Bn in 2021.

The Global Electric Vehicle Market is estimated to expand at a CAGR of 21.99% during the forecast period 2022-2050.

Factors such as increasing demand for low-emission vehicles and government initiatives to accelerate EV deployment are driving the growth in the Global Electric Vehicle Market.

Lack of EV charging infrastructure poses a big challenge to the overall growth of the electric vehicle market. 

Clean and renewable energy sources like solar and wind power are being increasingly integrated into the utility grids used to charge electric vehicles to reduce the use of hydrocarbon-based energy sources. 

Global Electric Vehicle Market is segmented into five broad categories namely – by type, by vehicle type, by charger, by power output, and by region.

Battery electric vehicle holds the highest share in the Global Electric Vehicle Market in 2021.

100-250 kw power output segment has the fastest CAGR in the Global Electric Vehicle Market during the forecast period.

Asia Pacific dominates the Global Electric Vehicle Market in 2021.

The key players in the Global Electric Vehicle Market are Tesla Motors, BYD Company Motors, BMW Group, Nissan Motor Corporation, Volkswagen AG, Hyundai, KIA Motors, SAIC and BAIC among others.