The Electric Vehicle Market size was valued at USD 385.78 Billion in 2023 and the total Electric Vehicle Market revenue is expected to grow at a CAGR of 13.78% from 2024 to 2030, reaching nearly USD 952.13 Billion.Electric Vehicle Market Overview:
An electric vehicle (EV) is a vehicle that uses one or more electric motors for propulsion. Unlike traditional gasoline-powered vehicles, EVs rely on electricity stored in rechargeable batteries to power their motors. This makes them significantly more environmentally friendly as they produce zero tailpipe emissions.The annual Global Electric Vehicle Market Outlook is a comprehensive publication that delves into recent advancements in electric mobility worldwide, crafted with the collaborative effort of members associated with the Electric Vehicles Initiative (EVI). By blending historical analyses with forecasts extending to 2030, the report meticulously investigates crucial areas of interest, including the deployment of electric vehicles, the establishment of charging infrastructure, battery demand, electricity consumption, displacement of oil usage, greenhouse gas emissions, and pertinent policy developments. Its content incorporates a thorough analysis of insights gained from leading markets, aiming to enlighten policymakers and stakeholders about effective policy frameworks and market systems conducive to the widespread adoption of electric vehicles. This edition specifically includes an examination of the financial performance of companies involved in the Electric Vehicle Market, venture capital investments in electric vehicle-related technologies, and the global trade of electric vehicles. Furthermore, the report offers access to two interactive online tools: the Global EV Data Explorer and Global EV Policy Explorer. These tools empower users to dynamically explore electric vehicle statistics, projections, and policy measures on a global scale. In 2022, the electric vehicle market share stood at 5.8 %, a notable increase from the 3.2% observed in 2021. Moving into the first quarter of 2023, EV sales surged to over 258,000 units, marking an impressive year-over-year growth of almost 45 percent. This robust performance translated to EVs contributing to 7.2%of all new-vehicle sales in the quarter.
Electric Vehicle Market Dynamics:
EV battery cost reduction to promote demand for low-priced EVs: in the electric vehicle market, the cost of EV batteries has decreased over the last decade as a result of technological improvements and the mass manufacture of EV batteries in enormous quantities. As EV batteries are one of the most expensive components of the car, this has resulted in a fall in the cost of electric vehicles. In 2010, the cost of an EV battery was around USD 1,100 per kWh. However, by 2020, the price had dropped to around USD 137 per kWh, and it was as low as USD 120 per kWh in 2022. In China electric vehicle market, the price of these batteries may be as low as USD 100 per kWh. This is due to lower manufacturing costs for these batteries, lower cathode material prices, increased output, and so on. The prices of EV batteries are expected to decline to around USD 60 per kWh by 2030, considerably lowering the prices of EVs and making them cheaper than traditional ICE vehicles.To know about the Research Methodology :- Request Free Sample Report Government EV initiatives: Countries during the world have set objectives to reduce automobile emissions between 2030 and 2050. They have begun to promote the development and selling of the electric vehicle market as well as the associated charging infrastructure. For example, the United States government spent $5 billion in 2017 to encourage electric car infrastructure such as charging stations. Several governments are offering different incentives to adopt EVs, such as reduced or no registration costs and exemptions from import taxes, sales taxes, and road charges. Norway and Germany are making big investments to promote EV sales. As a result of the strong incentives and subsidies in Europe, there is a rapid increase in the sale of electric vehicles. This has resulted in an increase in demand for EV charging components and equipment such as charging cables, connectors, adapters, and portable chargers. A new concept for a national fast-charging network is planned to be established as part of a collaboration between the US energy and transportation ministries, with potential longer-term advancements including up to 350 kW of direct current fast charging. Stringent CO2 pollution standards have boosted demand for electric automobiles. Governments are investing heavily in offering incentives and subsidies to boost the sale of electric vehicles. These initiatives by governments during the world are estimated to boost demand for electric vehicle market over the next decade. China, Canada, and the United States have established EV laws, while all nations have established fuel economy criteria. Incentives and subsidies are also provided to EV makers and customers. The United States electric vehicle market offers incentives of up to USD 7,500 for the purchase of new electric vehicles. Most of these nations also offer incentives for the installation of EV charging stations. Europe is expected to be the first area to fully transition to EVs. Most governments in the area have declared plans to phase down ICE car sales over the next several decades. With EV sales, the UK wants to dominate the total electric vehicle market by 2030. Norway intends to launch a similar effort and finish it by 2025. The Netherlands, Israel, Ireland, Iceland, and Denmark have made plans to adopt EVs by 2030. China and Japan also plan to stop ICE vehicle sales by 2035. EV charging infrastructure standardisation: Variations in charging demands have highlighted the necessity to standardise electric car charging stations. Certain voltages may be incompatible with EV charging stations. AC charging stations, for example, give a voltage of 120V AC via level 1 charging stations and 208/240V AC via level 2 charging stations, whilst DC charging stations allow rapid charging via 480V AC. Governments must standardise charging infrastructure in order to create a favourable ecology and encourage electric vehicle market sales. Distinct nations have different quick charging requirements. Japan employs CHAdeMO; Europe, the United States, and Korea employ CCS; while China employs GB/T. Since the country has not attained standardisation in rapid charging technologies, the Indian government has enforced the installation of CHAdeMO and CCS systems. However, this regulation raised the cost of installing charging stations. As a result, the government revised the requirements in July 2019 and permitted charging station developers to choose their chosen technique. Tesla, located in the United States, employs high-performance superchargers that are exclusive to Tesla and cannot be utilised by other EVs. The lack of uniformity between nations may have an influence on charging station installation and stifle the growth of the electric car charging station industry. The usage of diverse charging standards during the world is a hurdle to EV charging station harmonisation. While firms are working toward the adoption of a common plug or various types of connectors in charging stations, standardisation of all charging points remains a long way off. Standardization of charging stations would make charging EVs in public easier and result in quicker increase of electric vehicle market demand globally. Insufficient EV charging infrastructure: EV charging facilities are few in several areas across the world. As a result, the availability of public EV charging for electric vehicles decreases, lowering adoption. Despite the fact that several nations are in the process of establishing EV charging infrastructure, most countries, with the exception of a few states, have not been able to install the needed number of EV charging stations. With a well-developed global EV charging network, demand for electric vehicle market is likely to rise. The majority of countries have yet to create such charging networks. The Netherlands has the highest density of EV chargers per 100 km. The Netherlands has the greatest charging station density, with around 19-20 charging stations per 100 km. China comes in second, with around 3-4 charging stations per 100 kilometres. The UK has around 3 charge outlets per 100 km, however the government is aggressively expanding its charging stations in order to phase out ICE car sales by 2030. Germany, the United Arab Emirates, Japan, Singapore, South Korea, Sweden, France, the United States, and Russia have also accelerated the transition to electric vehicle market by installing a huge number of charging stations.
Electric Vehicle Market Segment Analysis:
By Vehicle Type, Commercial Use is expected to dominate the Electric Vehicle Market share over the forecast period. This growth is primarily attributed to factors such as escalating fuel prices and stringent emission regulations established by governments. The surge in adoption of autonomous delivery vehicles and the increasing prevalence of electric buses and trucks further contribute to the accelerated expansion of this segment. Manufacturers and suppliers in countries like Spain, the U.S., France, are actively engaged in enhancing the efficiency of battery and charging technologies specifically tailored for commercial electric vehicles (EVs). The utilization of electric commercial vehicles not only aids in curbing greenhouse gas emissions and reducing reliance on fossil fuels but also ensures seamless operations while adhering to the latest emissions standards. Electric buses emerge as the most widely employed EVs in commercial applications, while e-trucks find utility in distribution and courier services. According to a prominent research firm, e-trucks, including vans and articulated lorries, are projected to constitute approximately 15% of European truck sales by 2030. The collective impact of these factors is poised to drive a substantial surge in the adoption of electric vehicle market for commercial purposes in the forthcoming years.Based on Vehicle class, in Mid-priced segment is expected to reach highest CAGR of 14.2% over 2024-2030. Vehicles falling within the mid-priced category typically range from USD 30,000 to USD 45,000, characterized by a focus on essential features and a limited emphasis on more extravagant elements like infotainment systems and advanced instrument clusters. China stands out as a prominent Electric Vehicle Market for mid-priced electric vehicles (EVs), with established automotive manufacturers such as Hyundai, General Motors, Honda, and Nissan actively producing offerings in this segment to expand their market presence. Forecasts for the mid-priced electric vehicle market indicate substantial growth, particularly in the Asia Pacific and European Electric Vehicle Market, fueled by the demand for affordable, low-emission vehicles. Leading EV models like the Nissan Leaf, Renault Zoe, Mitsubishi Outlander, Volkswagen Passat, Hyundai Kona, etc., fall within this category and were among the best-selling EVs in 2022, excluding Tesla.
Electric Vehicle Market Regional Analysis:
The Asia Pacific region is poised to exert significant dominance over the global electric vehicle market, with three major markets spearheading global sales. According to the 2022 International Energy Agency Report, China, in particular, played a pivotal role, contributing to over 60% of global electric car sales. This surge is attributed to substantial government investments directed towards electrification and sustainable transportation. In the context of Asia Pacific, electric vehicles play a crucial role in achieving net-zero emission targets, driven notably by government support and initiatives aimed at decarbonizing society. According to MMR report, Europe Electric Vehicle Market size is expected to grow at a CAGR of 13.29% from 2024 to 2030. The European electric vehicle market has experienced significant growth, driven by a notable increase in the sales of battery electric vehicles (BEVs) and hybrid electric vehicles in 2022. In October 2022 alone, the European automotive market saw a robust growth of 14%. BEVs, specifically, witnessed a 17% surge in registrations, totaling around 124,000. The plugin vehicle's share of the overall European auto market reached 23.2%, reflecting a rising demand for electric vehicles and contributing to the market's growth throughout the forecast period. The top-selling electric vehicles in Europe for October are detailed in the table below. The adoption of electric mobility in Europe has witnessed a rapid rise, propelled by ongoing developments in the automotive sector.
Electric Vehicle Market Scope: Inquire before buying
Global Electric Vehicle Market Report Coverage Details Base Year: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: US $ 385.78 Bn. Forecast Period 2024 to 2030 CAGR: 13.78% Market Size in 2030: US $ 952.13 Bn. Segments Covered: by Component Battery Cells & Packs On-Board Charge Motor Reducer Fuel Stack Power Control Unit Battery Management System Fuel Processor Power Conditioner Air Compressor Humidifier by Vehicle Type Passenger Cars Commercial Vehicles by EV Charging Point Type Normal Charging Super Charging by End-User Private Commercial Fleets by Vehicle Class Low-priced Mid-priced Luxury Electric Vehicle Market Key Players:
North America Electric Vehicle Market: 1. Tesla - (United States) 2. Rivian - (United States) 3. Chevrolet - (United States) 4. Lucid Motors - (United States) 5. Ford - (United States) 6. Fisker - (United States) 7. Nikola - (United States) 8. Proterra - (United States) 9. Canoo - (United States) 10. Lion Electric - (Canada) 11. Hyliion - (United States) 12. Hyzon Motors - (United States) 13. Faraday Future - (United States) 14. Lordstown Motors - (United States) Europe Electric Vehicle Market: 1. BMW - (Germany) 2. Stellantis - (Netherlands) 3. Arrival - (United Kingdom) 4. Volkswagen - (Germany) 5. Polestar - (Sweden) Asia Pacific Electric Vehicle Market 1. NIO - (China) 2. BYD - (China) 3. SAIC Motors - (China) 4. NIU - (China) 5. Kia - (South Korea) 6. Gogoro - (Taiwan) 7. XPeng - (China) 8. Toyota - (Japan) 9. Li Auto - (China) 10. Nissan - (Japan) FAQs: 1. What are the growth drivers for the Electric Vehicle market? Ans. The increasing adoption of electric vehicles (EVs) is a major driver for the Electric Vehicle market. 2. What is the major restraint for the Electric Vehicle market growth? Ans. The Electric Vehicle market faces challenges related to the supply chain, including access to raw materials such as lithium and cobalt. Supply constraints can impact production and pricing. 3. Which region is expected to lead the global Electric Vehicle market during the forecast period? Ans. APAC is expected to lead the global Electric Vehicle market during the forecast period. 4. What is the projected market size & and growth rate of the Electric Vehicle Market? Ans. The Electric Vehicle Market size was valued at USD 385.78 Billion in 2023 and the total Electric Vehicle Market revenue is expected to grow at a CAGR of 13.78% from 2024 to 2030, reaching nearly USD 952.13 Billion. 5. What segments are covered in the Electric Vehicle Market report? Ans. The segments covered in the Electric Vehicle market report are Component, Vehicle type, Vehicle class, EV Charging Point Type, End Use and Region.
1. Electric Vehicle Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Electric Vehicle Market: Dynamics 2.1. Electric Vehicle Market Trends by Region 2.1.1. North America Electric Vehicle Market Trends 2.1.2. Europe Electric Vehicle Market Trends 2.1.3. Asia Pacific Electric Vehicle Market Trends 2.1.4. Middle East and Africa Electric Vehicle Market Trends 2.1.5. South America Electric Vehicle Market Trends 2.2. Electric Vehicle Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America Electric Vehicle Market Drivers 2.2.1.2. North America Electric Vehicle Market Restraints 2.2.1.3. North America Electric Vehicle Market Opportunities 2.2.1.4. North America Electric Vehicle Market Challenges 2.2.2. Europe 2.2.2.1. Europe Electric Vehicle Market Drivers 2.2.2.2. Europe Electric Vehicle Market Restraints 2.2.2.3. Europe Electric Vehicle Market Opportunities 2.2.2.4. Europe Electric Vehicle Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific Electric Vehicle Market Drivers 2.2.3.2. Asia Pacific Electric Vehicle Market Restraints 2.2.3.3. Asia Pacific Electric Vehicle Market Opportunities 2.2.3.4. Asia Pacific Electric Vehicle Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa Electric Vehicle Market Drivers 2.2.4.2. Middle East and Africa Electric Vehicle Market Restraints 2.2.4.3. Middle East and Africa Electric Vehicle Market Opportunities 2.2.4.4. Middle East and Africa Electric Vehicle Market Challenges 2.2.5. South America 2.2.5.1. South America Electric Vehicle Market Drivers 2.2.5.2. South America Electric Vehicle Market Restraints 2.2.5.3. South America Electric Vehicle Market Opportunities 2.2.5.4. South America Electric Vehicle Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Technology Roadmap 2.6. Regulatory Landscape by Region 2.6.1. North America 2.6.2. Europe 2.6.3. Asia Pacific 2.6.4. Middle East and Africa 2.6.5. South America 2.7. Key Opinion Leader Analysis For Electric Vehicle Industry 2.8. Analysis of Government Schemes and Initiatives For Electric Vehicle Industry 2.9. The Global Pandemic Impact on Electric Vehicle Market 3. Electric Vehicle Market: Global Market Size and Forecast by Segmentation (by Value in USD Million) Volume (Units)Volume (Units) (2023-2030) 3.1. Electric Vehicle Market Size and Forecast, by Component (2023-2030) 3.1.1. Battery Cells & Packs 3.1.2. On-Board Charge 3.1.3. Motor 3.1.4. Reducer 3.1.5. Fuel Stack 3.1.6. Power Control Unit 3.1.7. Battery Management System 3.1.8. Fuel Processor 3.1.9. Power Conditioner 3.1.10. Air Compressor 3.1.11. Humidifier 3.2. Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 3.2.1. Normal Charging 3.2.2. Super Charging 3.3. Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 3.3.1. Private 3.3.2. Commercial Fleets 3.4. Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 3.4.1. Passenger Cars 3.4.2. Commercial Vehicles 3.5. Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 3.5.1. Low-priced 3.5.2. Mid-priced 3.5.3. Luxury 3.6. South America Electric Vehicle Market Size and Forecast, by Region (2023-2030) 3.6.1. North America 3.6.2. Europe 3.6.3. Asia Pacific 3.6.4. Middle East and Africa 3.6.5. South America 4. North America Electric Vehicle Market Size and Forecast by Segmentation (by Value in USD Million) Volume (Units)(2023-2030) 4.1. North America Electric Vehicle Market Size and Forecast, by Component (2023-2030) 4.1.1. Battery Cells & Packs 4.1.2. On-Board Charge 4.1.3. Motor 4.1.4. Reducer 4.1.5. Fuel Stack 4.1.6. Power Control Unit 4.1.7. Battery Management System 4.1.8. Fuel Processor 4.1.9. Power Conditioner 4.1.10. Air Compressor 4.1.11. Humidifier 4.2. North America Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 4.2.1. Normal Charging 4.2.2. Super Charging 4.3. North America Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 4.3.1. Private 4.3.2. Commercial Fleets 4.4. North America Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 4.4.1. Passenger Cars 4.4.2. Commercial Vehicles 4.5. North America Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 4.5.1. Low-priced 4.5.2. Mid-priced 4.5.3. Luxury 4.6. North America Electric Vehicle Market Size and Forecast, by Country (2023-2030) 4.6.1. United States 4.6.1.1. United States Electric Vehicle Market Size and Forecast, by Component (2023-2030) 4.6.1.1.1. Battery Cells & Packs 4.6.1.1.2. On-Board Charge 4.6.1.1.3. Motor 4.6.1.1.4. Reducer 4.6.1.1.5. Fuel Stack 4.6.1.1.6. Power Control Unit 4.6.1.1.7. Battery Management System 4.6.1.1.8. Fuel Processor 4.6.1.1.9. Power Conditioner 4.6.1.1.10. Air Compressor 4.6.1.1.11. Humidifier 4.6.1.2. United States Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 4.6.1.2.1. Normal Charging 4.6.1.2.2. Super Charging 4.6.1.3. United States Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 4.6.1.3.1. Private 4.6.1.3.2. Commercial Fleets 4.6.1.4. United States Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 4.6.1.4.1. Passenger Cars 4.6.1.4.2. Commercial Vehicles 4.6.1.5. United States Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 4.6.1.5.1. Passenger Cars 4.6.1.5.2. Commercial Vehicles 4.6.2. Canada 4.6.2.1. Canada Electric Vehicle Market Size and Forecast, by Component (2023-2030) 4.6.2.1.1. Battery Cells & Packs 4.6.2.1.2. On-Board Charge 4.6.2.1.3. Motor 4.6.2.1.4. Reducer 4.6.2.1.5. Fuel Stack 4.6.2.1.6. Power Control Unit 4.6.2.1.7. Battery Management System 4.6.2.1.8. Fuel Processor 4.6.2.1.9. Power Conditioner 4.6.2.1.10. Air Compressor 4.6.2.1.11. Humidifier 4.6.2.2. Canada Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 4.6.2.2.1. Normal Charging 4.6.2.2.2. Super Charging 4.6.2.3. Canada Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 4.6.2.3.1. Private 4.6.2.3.2. Commercial Fleets 4.6.2.4. Canada Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 4.6.2.4.1. Passenger Cars 4.6.2.4.2. Commercial Vehicles 4.6.2.5. Canada Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 4.6.2.5.1. Low-priced 4.6.2.5.2. Mid-priced 4.6.2.5.3. Luxury 4.6.3. Mexico 4.6.3.1. Mexico Electric Vehicle Market Size and Forecast, by Component (2023-2030) 4.6.3.1.1. Battery Cells & Packs 4.6.3.1.2. On-Board Charge 4.6.3.1.3. Motor 4.6.3.1.4. Reducer 4.6.3.1.5. Fuel Stack 4.6.3.1.6. Power Control Unit 4.6.3.1.7. Battery Management System 4.6.3.1.8. Fuel Processor 4.6.3.1.9. Power Conditioner 4.6.3.1.10. Air Compressor 4.6.3.1.11. Humidifier 4.6.3.2. Mexico Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 4.6.3.2.1. Normal Charging 4.6.3.2.2. Super Charging 4.6.3.3. Mexico Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 4.6.3.3.1. Private 4.6.3.3.2. Commercial Fleets 4.6.3.4. Mexico Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 4.6.3.4.1. Passenger Cars 4.6.3.4.2. Commercial Vehicles 4.6.3.5. Mexico Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 4.6.3.5.1. Low-priced 4.6.3.5.2. Mid-priced 4.6.3.5.3. Luxury 5. Europe Electric Vehicle Market Size and Forecast by Segmentation (by Value in USD Million) Volume (Units)(2023-2030) 5.1. Europe Electric Vehicle Market Size and Forecast, by Component (2023-2030) 5.2. Europe Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 5.3. Europe Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 5.4. Europe Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 5.5. Europe Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 5.6. Europe Electric Vehicle Market Size and Forecast, by Country (2023-2030) 5.6.1. United Kingdom 5.6.1.1. United Kingdom Electric Vehicle Market Size and Forecast, by Component (2023-2030) 5.6.1.2. United Kingdom Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 5.6.1.3. United Kingdom Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 5.6.1.4. United Kingdom Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 5.6.1.5. United Kingdom Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 5.6.2. France 5.6.2.1. France Electric Vehicle Market Size and Forecast, by Component (2023-2030) 5.6.2.2. France Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 5.6.2.3. France Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 5.6.2.4. France Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 5.6.2.5. France Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 5.6.3. Germany 5.6.3.1. Germany Electric Vehicle Market Size and Forecast, by Component (2023-2030) 5.6.3.2. Germany Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 5.6.3.3. Germany Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 5.6.3.4. Germany Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 5.6.3.5. Germany Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 5.6.4. Italy 5.6.4.1. Italy Electric Vehicle Market Size and Forecast, by Component (2023-2030) 5.6.4.2. Italy Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 5.6.4.3. Italy Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 5.6.4.4. Italy Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 5.6.4.5. Italy Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 5.6.5. Spain 5.6.5.1. Spain Electric Vehicle Market Size and Forecast, by Component (2023-2030) 5.6.5.2. Spain Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 5.6.5.3. Spain Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 5.6.5.4. Spain Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 5.6.5.5. Spain Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 5.6.6. Sweden 5.6.6.1. Sweden Electric Vehicle Market Size and Forecast, by Component (2023-2030) 5.6.6.2. Sweden Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 5.6.6.3. Sweden Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 5.6.6.4. Sweden Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 5.6.6.5. Sweden Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 5.6.7. Austria 5.6.7.1. Austria Electric Vehicle Market Size and Forecast, by Component (2023-2030) 5.6.7.2. Austria Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 5.6.7.3. Austria Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 5.6.7.4. Austria Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 5.6.7.5. Austria Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 5.6.7.6. Austria Electric Vehicle Market Size and Forecast, by Nature Type (2023-2030) 5.6.8. Rest of Europe 5.6.8.1. Rest of Europe Electric Vehicle Market Size and Forecast, by Component (2023-2030) 5.6.8.2. Rest of Europe Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 5.6.8.3. Rest of Europe Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 5.6.8.4. Rest of Europe Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 5.6.8.5. Rest of Europe Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 6. Asia Pacific Electric Vehicle Market Size and Forecast by Segmentation (by Value in USD Million) Volume (Units)(2023-2030) 6.1. Asia Pacific Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.2. Asia Pacific Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.3. Asia Pacific Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 6.4. Asia Pacific Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.5. Asia Pacific Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 6.6. Asia Pacific Electric Vehicle Market Size and Forecast, by Nature Type (2023-2030) 6.7. Asia Pacific Electric Vehicle Market Size and Forecast, by Country (2023-2030) 6.7.1. China 6.7.1.1. China Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.7.1.2. China Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.7.1.3. China Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 6.7.1.4. China Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.7.1.5. China Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 6.7.2. S Korea 6.7.2.1. S Korea Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.7.2.2. S Korea Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.7.2.3. S Korea Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 6.7.2.4. S Korea Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.7.2.5. S Korea Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 6.7.3. Japan 6.7.3.1. Japan Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.7.3.2. Japan Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.7.3.3. Japan Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 6.7.3.4. Japan Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.7.3.5. Japan Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 6.7.4. India 6.7.4.1. India Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.7.4.2. India Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.7.4.3. India Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 6.7.4.4. India Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.7.4.5. India Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 6.7.5. Australia 6.7.5.1. Australia Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.7.5.2. Australia Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.7.5.3. Australia Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 6.7.5.4. Australia Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.7.5.5. Australia Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 6.7.6. Indonesia 6.7.6.1. Indonesia Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.7.6.2. Indonesia Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.7.6.3. Indonesia Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 6.7.6.4. Indonesia Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.7.6.5. Indonesia Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 6.7.7. Malaysia 6.7.7.1. Malaysia Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.7.7.2. Malaysia Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.7.7.3. Malaysia Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 6.7.7.4. Malaysia Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.7.7.5. Malaysia Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 6.7.8. Vietnam 6.7.8.1. Vietnam Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.7.8.2. Vietnam Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.7.8.3. Vietnam Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 6.7.8.4. Vietnam Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.7.8.5. Vietnam Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 6.7.9. Taiwan 6.7.9.1. Taiwan Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.7.9.2. Taiwan Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.7.9.3. Taiwan Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 6.7.9.4. Taiwan Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.7.9.5. Taiwan Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 6.7.10. Rest of Asia Pacific 6.7.10.1. Rest of Asia Pacific Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.7.10.2. Rest of Asia Pacific Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.7.10.3. Rest of Asia Pacific Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 6.7.10.4. Rest of Asia Pacific Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.7.10.5. Rest of Asia Pacific Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 7. Middle East and Africa Electric Vehicle Market Size and Forecast by Segmentation (by Value in USD Million) Volume (Units)(2023-2030) 7.1. Middle East and Africa Electric Vehicle Market Size and Forecast, by Component (2023-2030) 7.2. Middle East and Africa Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 7.3. Middle East and Africa Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 7.4. Middle East and Africa Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 7.5. Middle East and Africa Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 7.6. Middle East and Africa Electric Vehicle Market Size and Forecast, by Country (2023-2030) 7.6.1. South Africa 7.6.1.1. South Africa Electric Vehicle Market Size and Forecast, by Component (2023-2030) 7.6.1.2. South Africa Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 7.6.1.3. South Africa Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 7.6.1.4. South Africa Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 7.6.1.5. South Africa Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 7.6.2. GCC 7.6.2.1. GCC Electric Vehicle Market Size and Forecast, by Component (2023-2030) 7.6.2.2. GCC Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 7.6.2.3. GCC Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 7.6.2.4. GCC Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 7.6.2.5. GCC Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 7.6.3. Nigeria 7.6.3.1. Nigeria Electric Vehicle Market Size and Forecast, by Component (2023-2030) 7.6.3.2. Nigeria Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 7.6.3.3. Nigeria Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 7.6.3.4. Nigeria Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 7.6.3.5. Nigeria Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 7.6.4. Rest of ME&A 7.6.4.1. Rest of ME&A Electric Vehicle Market Size and Forecast, by Component (2023-2030) 7.6.4.2. Rest of ME&A Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 7.6.4.3. Rest of ME&A Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 7.6.4.4. Rest of ME&A Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 7.6.4.5. Rest of ME&A Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 8. South America Electric Vehicle Market Size and Forecast by Segmentation (by Value in USD Million) Volume (Units)(2023-2030) 8.1. South America Electric Vehicle Market Size and Forecast, by Component (2023-2030) 8.2. South America Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 8.3. South America Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 8.4. South America Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 8.5. South America Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 8.6. South America Electric Vehicle Market Size and Forecast, by Country (2023-2030) 8.6.1. Brazil 8.6.1.1. Brazil Electric Vehicle Market Size and Forecast, by Component (2023-2030) 8.6.1.2. Brazil Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 8.6.1.3. Brazil Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 8.6.1.4. Brazil Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 8.6.1.5. Brazil Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 8.6.2. Argentina 8.6.2.1. Argentina Electric Vehicle Market Size and Forecast, by Component (2023-2030) 8.6.2.2. Argentina Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 8.6.2.3. Argentina Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 8.6.2.4. Argentina Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 8.6.2.5. Argentina Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 8.6.3. Rest Of South America 8.6.3.1. Rest Of South America Electric Vehicle Market Size and Forecast, by Component (2023-2030) 8.6.3.2. Rest Of South America Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 8.6.3.3. Rest Of South America Electric Vehicle Market Size and Forecast, by End Use (2023-2030) 8.6.3.4. Rest Of South America Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 8.6.3.5. Rest Of South America Electric Vehicle Market Size and Forecast, by Vehicle Class (2023-2030) 9. Global Electric Vehicle Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2022) 9.3.5. Company Location s 9.4. Market Structure 9.4.1. Market Leaders 9.4.2. Market Followers 9.4.3. Emerging Players 9.5. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. Tesla - (United States) 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Certifications Received by Them 10.1.7. Awards Received by the Firm 10.1.8. Recent Developments 10.2. NIO - (China) 10.3. BMW - (Germany) 10.4. Li Auto - (China) 10.5. Nissan - (Japan) 10.6. Rivian - (United States) 10.7. Chevrolet - (United States) 10.8. Lucid Motors - (United States) 10.9. Ford - (United States) 10.10. XPeng - (China) 10.11. Toyota - (Japan) 10.12. Volkswagen - (Germany) 10.13. Polestar - (Sweden) 10.14. Kia - (South Korea) 10.15. Fisker - (United States) 10.16. Nikola - (United States) 10.17. Proterra - (United States) 10.18. Gogoro - (Taiwan) 10.19. Canoo - (United States) 10.20. Lion Electric - (Canada) 10.21. Arrival - (United Kingdom) 10.22. Hyliion - (United States) 10.23. Hyzon Motors - (United States) 10.24. NIU - (China) 10.25. Stellantis - (Netherlands) 10.26. BYD - (China) 10.27. SAIC Motors - (China) 10.28. Faraday Future - (United States) 10.29. Lordstown Motors - (United States) 11. Key Findings 12. Industry Recommendations 13. Electric Vehicle Market: Research Methodology 14. Terms and Glossary