Global Electric Vehicles Market Share Set to Achieve Record Value USD 700 Billion By 2026, at 22% CAGR: Facts & Factors

New York, NY, Feb. 03, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Electric Vehicles Market By Vehicle Type, By Propulsion Type, By Vehicle Class (Luxury and Mid-Priced), By Power Output (250 KW and Above, 100-250 KW, and Less than 100 KW), And By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” .

“According to the research study, the global Electric Vehicles Market was estimated at USD 140 Billion in 2019 and is expected to reach USD 700 Billion by 2026. The global Electric Vehicles Market is expected to grow at a compound annual growth rate (CAGR) of 22% from 2019 to 2026”.

The global electric vehicles (EVs) market is witnessing substantial growth in the coming years owing to the swiftly escalating year-on-year adoption rate of electric vehicles across the globe; favorable policies, incentives, and subsidies introduced by several state governments; along with the quick establishment of infrastructure supporting EVs. Some European countries, China, and the U.S. led the global electric vehicle market in terms of sales of hybrid electric vehicles (HEV) and plug-in hybrid electric vehicles (PHEV). Apart from this, the launch of turbo-chargers and wireless charging setups for electric vehicles is positively impacting the industry growth during the study timeframe.

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Our Free Sample Report Includes:

• 2020 Updated Report Introduction, Overview, and In-depth industry analysis
• COVID-19 Pandemic Outbreak Impact Analysis Included
• 190+ Pages Research Report (Inclusion of Updated Research)
• Provide Chapter-wise guidance on Request
• 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
• Includes Updated List of table & figures
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
• Facts and Factors research methodology

(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)

Key Questions Answered in this Report

1) What was the impact of COVID-19 on the Electric Vehicles Market?

2) What is the market size, share of the Electric Vehicles Market?

3) Who are the top market players in Electric Vehicles Market?

4) What will be the future market of the Electric Vehicles Market?

Key Offerings:

• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
• Competitive Landscape – Top key vendors and other prominent vendors

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The extensive demand for mid-priced vehicles is likely to flourish the EV segment at splendid CAGR

The EV market is swiftly expanding with time and in the next few decades; the electric vehicle segment will overwhelm the gasoline vehicles segment. To improve the EV adoption rate, the industrial players are dedicated to developing highly efficient & durable batteries at affordable prices. The automakers are trying to implement a comfortable driving experience for the mid-priced EV segment rather than offering premium features like instrument cluster and infotainment. China EV market leads in terms of demand & sales of mid-priced electric vehicle segment. Some of the globally renowned automakers are offering electric vehicles at affordable prices compared to other industries.

Top Market Players

Some of the key players driving the global electric vehicles market are Mitsubishi, BAIC, Toyota, General Motors, Daimler, Tesla, Ford, Changan, BMW, Hyundai, JMCG, Volkswagen, JAC, Yutong, SAIC, Renault-Nissan, BYD, Zotye, Geely, and Chery, among others.

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Under vehicle type segment, the “commercial vehicle” is projected to grow splendidly during the projected period

The commercial vehicle category, which primarily includes electric buses, is anticipated to spur at a remarkable CAGR, as the electric buses are being adopted at an increased rate in Asian countries, particularly India & China. Moreover, several regions are focused on substituting their existing gasoline-based vehicle fleet with electric buses.

The global electric vehicles (EVs) market share is witnessing substantial growth in the coming years owing to the swiftly escalating year-on-year adoption rate of electric vehicles across the globe; favorable policies, incentives, and subsidies introduced by several state governments; along with the quick establishment of infrastructure supporting EVs. Some European countries, China, and the U.S. led the global electric vehicle market in terms of sales of hybrid electric vehicles (HEV) and plug-in hybrid electric vehicles (PHEV). Apart from this, the launch of turbo-chargers and wireless charging setups for electric vehicles is positively impacting the industry growth during the study timeframe.

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The global electric vehicles market research report delivers an acute valuation and taxonomy of the global electric vehicles industry by practically splitting the market on the basis of different vehicle types, propulsion types, components, charging station types, vehicle classes, power outputs, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.

The global electric vehicles market is segmented based on the vehicle type, propulsion type, component, charging station type, vehicle class, power output, and region. On the basis of vehicle type, the global industry is segmented into two-wheelers, commercial vehicles, and passenger cars. Propulsion type-wise, the market is divided into the hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV), battery electric vehicle (BEV), and fuel cell electric vehicle (FCEV). By component, the global market is bifurcated into the electric motor, battery cells & packs, infotainment, and onboard charge. On the basis of charging station type, the industry is classified into supercharging and normal charging. By vehicle class, the industry is segmented into luxury and mid-priced. By Power Output, the global EV market is segmented into 250 KW and above, 100-250 KW, and less than 100 KW.

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The regional segmentation of the global electric vehicles industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the global electric vehicles industry is provided for the leading economies of the world.

Browse the full “Electric Vehicles Market By Vehicle Type, By Propulsion Type, By Vehicle Class (Luxury and Mid-Priced), By Power Output (250 KW and Above, 100-250 KW, and Less than 100 KW), And By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026″ report at https://www.fnfresearch.com/global-electric-vehicles-market-by-vehicle-type-two-677

This report segments the global electric vehicles market as follows:

Global Electric Vehicles Market: Vehicle Type Segmentation Analysis

• Two-wheeler
• Commercial Vehicle
• Passenger Car

Global Electric Vehicles Market: Component Segmentation Analysis

• Electric Motor
• Battery Cells & Packs
• Infotainment
• On-Board Charge

Global Electric Vehicles Market: Propulsion Type Segmentation Analysis

• Hybrid electric vehicle (HEV)
• Plug-in hybrid electric vehicle (PHEV)
• Battery electric vehicle (BEV)
• Fuel cell electric vehicle (FCEV)

Global Electric Vehicles Market: Charging Station Segmentation Analysis

• Supercharging
• Normal charging

Global Electric Vehicles Market: Vehicle Class Segmentation Analysis

• Luxury
• Mid-Priced

Global Electric Vehicles Market: Power Output Segmentation Analysis

• 250 KW and above
• 100-250 KW
• Less than 100 KW

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