The Electric Vehicle Market size was valued at USD 385.78 Billion in 2023 and the total Electric Vehicle revenue is expected to grow at a CAGR of 13.78% from 2024 to 2030, reaching nearly USD 952.13 Billion by 2030.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. MMR Global Electric Vehicle Market Report Offers The MMR final report 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 excel sheet for electric vehicle statistics, projections, and policy measures on a global scale. By incorporating these elements, the report ensures that clients receive a comprehensive understanding of the electric vehicle market, highlighting key trends, opportunities, and challenges, thus enabling informed decision-making and strategic planning for stakeholders.To know about the Research Methodology :- Request Free Sample Report
Electric Vehicle Market Dynamics:
Technological advancements and infrastructure development The main factors driving the use of electric vehicles (EVs) in transportation and logistics are technological advancements and infrastructure. One important part of this is the rapid expansion of EV charging infrastructure, which the U.S. The Department of Energy reported more than 10,000 new charging stations in the US. all This extensive connectivity reduces accessibility concerns of EV users, making electric vehicles more practical for consumers and businesses. Governments around the world are also investing heavily in EV charging infrastructure and offering incentives for EV adoption. For example, the U.S. the government has implemented policies and subsidies to support charging station expansion and encourage EV adoption. Similarly, the EU Green Deal sets ambitious targets for EV adoption and infrastructure, which are crucial for accelerating the transition to electric mobility. Increasing environmental awareness of consumers is also increasing the demand for environmentally friendly transportation methods, leading companies to use electric vehicles and trucks along with their fleet This combination of economic, legal and social factors is accelerating the transition to electric vehicles. Electric vehicles are gaining momentum in transportation and logistics with the rise of global trade and e-commerce Expansion in the transportation and logistics sectors is fueling the demand for electric vehicles (EVs). As global trade and e-commerce continue to evolve, the need for efficient and sustainable transportation solutions increases. Electric vehicles offer a promising alternative to conventional combustion engine vehicles, as they produce lower emissions and lower operating costs This shift is particularly evident in urban areas where logistics are increasing and the need to reduce air pollution is critical. As a result, logistics companies are increasingly adding electric cars and trucks to their fleets, driven by regulatory pressure and the economic benefits of lower fuel and maintenance costs. An example of this trend can be seen in Amazon, which in May 2024 deployed heavy-duty electric trucks across Southern California for its freight operations. The introduction of these 50 heavy duty electric trucks in the region is a significant step towards decarbonization through first, middle and final delivery.This move meets established regulatory requirements their eye towards reducing not only carbon footprints but logistics due to the lower operating costs of EVs also means there can be economic benefits in the field. The deployment of electric trucks by a major company such as Amazon highlights the increasing adoption and integration of EVs in transportation and logistics, forcing a more sustainable future in the world both trade and commerce are intensified. Business Opportunities for Electric Vehicle globally We have incorporated the below information for major countries and the business opportunities in those countries. This information provides insights into the expansive potential for businesses in the electric vehicle (EV) sector, mainly in India, China, Japan, South Korea, ASEAN, Germany, France, UK, Italy, Spain, US, Canada, Mexico, Brazil, Argentina. The business opportunities span across three key segments: mobility, infrastructure, and energy. These include opportunities in EV franchising, the EV Original Equipment Manufacturer (OEM) market, battery infrastructure, solar vehicle charging, and battery swapping technology, among several others. The EV push in India opens several business opportunities in three key segments transport, infrastructure and energy These include opportunities in EV franchising, EV OEM market, battery systems, solar car charging, battery swapping technology and many others According to NITI means the Aayog will make a complete shift towards EVs, battery infrastructure and charging infrastructure A total investment of US$267 billion (Rs 19.7 lakh crore) is required. Moreover, according to the Ministry of Skills Development and Entrepreneurship (MSDE), the EV industry could add 10 million direct jobs by 2030, creating 50 million indirect jobs in the sector Several automotive companies are planning to participate in the EV industry as listed in the table below:India’s EV industry is slowly growing, aided by various government policies and higher crude oil prices, as people look for new ways to reduce their monthly bills. However, the large-scale transition from internal combustion engine (ICE) vehicles (ICE) to EVs requires the expansion of infrastructure facilities including charging stations, and vehicles with high electric vehicle range (KM range with a single charge); for in the country Several initiatives by the government to support manufacturing and adoption can help achieve the goal of 100% EV adoption by 2030. Technological advances and mass production are driving down the cost of EV batteries, increasing the demand for affordable electric vehicles. EV battery cost reduction to promote demand for low-priced EVs in the electric vehicle industry, 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. 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 standardization: Variations in charging demands have highlighted the necessity to standardize 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 standardize charging infrastructure in order to create a favorable 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 standardization 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 utilized 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 harmonization. While firms are working toward the adoption of a common plug or various types of connectors in charging stations, standardization 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 kilometers. 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.
COMPANY EV RELATED PLANS Kia Kia plans to manufacture small SUV EVs in India for global markets in 2025. Maruti Suzuki Maruti Suzuki plans to launch its first EV model in India by 2025. Tata Motors Tata Motors bags an order worth US$ 678 million (Rs 5,000 crore) order from the government for electric buses; it plans to launch 10 more EVs in India. Hyundai Hyundai plans to launch IONIQ 5 EV in India by the second half of 2022. Hopcharge Hopcharge, a Gurgaon- based start-up has created the world’s first on-demand doorstep fast charge service. MG Motors MG Motors India has partnered with Bharath petroleum for expanding the EV charging infrastructure. Mahindra & Mahindra Mahindra and Mahindra targets to launch 16 EV models across its SUV and LCV categories by 2027. Electric Vehicle Market Segment Analysis:
Based on the Component, the market is segmented into the Battery Cells and Packs, Onboard Chargers, Power Control Units, Power Conditioners, Air Compress and Others. Battery Cells and Packs dominated the Electric Vehicle Market in 2023. Battery systems store the energy needed to power the electric motor, directly influencing the driving experience and operational capabilities in electric Vehicles. With advancements in battery technology, particularly lithium-ion and solid-state batteries, manufacturers are continually enhancing energy density, charging speed, and overall longevity. This evolution extends the driving range but also improves the overall appeal of electric vehicles to consumers who prioritize range anxiety and convenience. The rapid expansion of the EV market has driven significant investments in research and development aimed at optimizing battery packs, making them lighter, more efficient, and more cost-effective. The growing demand for sustainable and eco-friendly transportation solutions underscores the importance of robust battery systems, as they play a vital role in reducing carbon emissions and reliance on fossil fuels. By Vehicle Type, the market is segmented into the Passenger Car, Commercial Vehicle and Two Wheelers and Three Wheelers. Passenger Car is expected to dominate the Electric Vehicle Market during the forecast period. Passenger cars represent the largest segment, driven by a surge in consumer awareness regarding environmental sustainability and the rising costs of fossil fuels. These vehicles are ideal for daily commuting but also offer the flexibility and convenience that modern consumers demand. Advances in battery technology have significantly enhanced the range and performance of electric passenger cars, alleviating concerns about range anxiety and making them increasingly attractive to buyers. The government incentives and supportive policies aimed at promoting electric mobility have further accelerated the transition to electric passenger vehicles. The burgeoning availability of models from a wide range of manufacturers, including both established automakers and innovative startups, has expanded choices for consumers, making EVs more accessible than ever. The enhanced features such as smart connectivity, advanced safety systems, and lower operational costs have made electric passenger cars not just a sustainable alternative but also a desirable choice.
Electric Vehicle Market Regional Insights:
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 2023 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. By 2030, the Indian government aims for 30% of all vehicles on its roads to be electric, underscoring its commitment to reducing carbon emissions and curbing air pollution. This ambitious target is part of broader efforts to promote sustainable transportation and decrease reliance on fossil fuels.The MMR Electric Vehicle Market Report includes historical data on electric vehicle sales from 2017 to 2023 for major countries. (Volume in Million)
Electric Vehicle Market Recent Developments: 1. Nissan has committed to to expand its EV lineup, with the Aria electric SUV being a recent addition. The company is also working to expand its global EV footprint to create more efficient batteries. 2. Hyundai and Kia launched several new EV models, including the Hyundai Ionic 5 and Kia EV6, which received positive market reception and international awards for their design and innovative technologies. 3. South Korea is aggressively expanding its EV charging network. The government aims to install 500,000 charging stations by 2030 to support the growing demand for electric vehicles.
Countries 2017 2018 2019 2020 2021 2022 2023 China xx xx xx xx xx xx xx India xx xx xx xx xx xx xx Japan xx xx xx xx xx xx xx France xx xx xx xx xx xx xx UK xx xx xx xx xx xx xx France xx xx xx xx xx xx xx Germany xx xx xx xx xx xx xx Italy xx xx xx xx xx xx xx US xx xx xx xx xx xx xx Canada xx xx xx xx xx xx xx Mexico xx xx xx xx xx xx xx Brazil xx xx xx xx xx xx xx Electric Vehicle Industry Ecosystem
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 Billion . Forecast Period 2024 to 2030 CAGR: 13.78% Market Size in 2030: US $ 952.13 Billion Segments Covered: by Component Battery Cells and Packs Onboard Chargers Power Control Units Power Conditioners Air Compress Others by Vehicle Type Passenger Car Commercial Vehicle Two Wheelers and Three Wheelers by Drive Type All Wheel Drive Front Wheel Drive Rear Wheel Drive by EV Charging Point Type Normal Charging Super Charging Inductive Charging by Range Up to 150 Miles 151-300 Miles Above 300 Miles by Propulsion Type Battery Electric Vehicle (BEV) Hybrid Electric Vehicle (HEV) Fuel Cell Electric Vehicle (FCEV) Electric Vehicle Market, by Region
North America (United States, Canada, and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, and the Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan, and the Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria, and the Rest of ME&A) South America (Brazil, Argentina Rest of South America)Leading Electric Vehicle Market, Key Players:
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) 15. BMW - (Germany) 16. Stellantis - (Netherlands) 17. Arrival - (United Kingdom) 18. Volkswagen - (Germany) 19. Polestar - (Sweden) 20. NIO - (China) 21. BYD - (China) 22. SAIC Motors - (China) 23. GAC Motors- (China) 24. NIU - (China) 25. Tata Motors- (India) 26. Geely- (China) 27. Wuling Hong Guang MINI EV- (China) 28. Kia - (South Korea) 29. Gogoro - (Taiwan) 30. XPeng - (China) 31. Toyota - (Japan) 32. Li Auto - (China) 33. Nissan - (Japan)FAQs:
1. Which region has the largest Global Electric Vehicle Market share? Ans: The Asia Pacific region holds the highest share in 2023. 2. What is the growth rate of Global Electric Vehicle Market? Ans: The Global Electric Vehicle Market is growing at a CAGR of 13.78% during the forecasting period 2024-2030. 3. What segments are covered in the Global Electric Vehicle market? Ans: Global Electric Vehicle Market is segmented into Component, Vehicle Type, Drive Type, EV Charging Point Type, Range, Propulsion Type and Region. 4. Who are the key players in the Global Electric Vehicle market? Ans: The important key players in the Global Electric Vehicle Market are Tesla - (United States), Rivian - (United States), Chevrolet - (United States), Lucid Motors - (United States), Ford - (United States), Fisker - (United States) and others. 5. What is the study period of this market? Ans: The Global Electric Vehicle Market is studied from 2023 to 2030.
1. Electric Vehicle Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Evolution of Electric Vehicle 1.4. Executive Summary 2. Global Electric Vehicle Market: Competitive Landscape 2.1. MMR Competition Matrix 2.2. Competitive Landscape 2.3. Market share analysis of major players 2.4. Products specific analysis 2.4.1. Main suppliers and their market positioning 2.4.2. Key customers and adoption rates across different sectors 2.5. Key Players Benchmarking 2.5.1. Company Name 2.5.2. Type Segment 2.5.3. End User Segment 2.5.4. Revenue (2023) 2.5.5. Geographic distribution of major customers 2.6. Market Structure 2.6.1. Market Leaders 2.6.2. Market Followers 2.6.3. Emerging Players 2.7. Mergers and Acquisitions Details 3. Electric Vehicle Market: Dynamics 3.1. Electric Vehicle Market Trends 3.2. Electric Vehicle Market Dynamics 3.2.1.1. Drivers 3.2.1.2. Restraints 3.2.1.3. Opportunities 3.2.1.4. Challenges 3.3. PORTER’s Five Forces Analysis 3.4. PESTLE Analysis 3.5. Value Chain Analysis 3.6. Regulatory Landscape by Region 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 3.7. Analysis of Government Schemes and Initiatives For the Electric Vehicle Industry 3.8. Ecosystem Analysis 3.9. Import Export Analysis of Electric Vehicle by Region 4. Electric Vehicle Market: Global Market Size and Forecast by Segmentation (by Value USD Mn and Volume Units) (2023-2030) 4.1. Electric Vehicle Market Size and Forecast, by Component (2023-2030) 4.1.1. Battery Cells and Packs 4.1.2. Onboard Chargers 4.1.3. Power Control Units 4.1.4. Power Conditioners 4.1.5. Air Compress 4.1.6. Others 4.2. Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 4.2.1. Passenger Car 4.2.2. Commercial Vehicle 4.2.3. Two Wheelers and Three Wheelers 4.3. Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 4.3.1. All Wheel Drive 4.3.2. Front Wheel Drive 4.3.3. Rear Wheel Drive 4.4. Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 4.4.1. Normal Charging 4.4.2. Super Charging 4.4.3. Inductive Charging 4.5. Electric Vehicle Market Size and Forecast, by Range (2023-2030) 4.5.1. Up to 150 Miles 4.5.2. 151-300 Miles 4.5.3. Above 300 Miles 4.6. Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 4.6.1. Battery Electric Vehicle (BEV) 4.6.2. Hybrid Electric Vehicle (HEV) 4.6.3. Fuel Cell Electric Vehicle (FCEV) 4.7. Electric Vehicle Market Size and Forecast, by Region (2023-2030) 4.7.1. North America 4.7.2. Europe 4.7.3. Asia Pacific 4.7.4. Middle East and Africa 4.7.5. South America 5. North America Electric Vehicle Market Size and Forecast by Segmentation by Segmentation (by Value USD Mn and Volume Units) (2023-2030) 5.1. North America Electric Vehicle Market Size and Forecast, by Component (2023-2030) 5.1.1. Battery Cells and Packs 5.1.2. Onboard Chargers 5.1.3. Power Control Units 5.1.4. Power Conditioners 5.1.5. Air Compress 5.1.6. Others 5.2. North America Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 5.2.1. Passenger Car 5.2.2. Commercial Vehicle 5.2.3. Two Wheelers and Three Wheelers 5.3. North America Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 5.3.1. All Wheel Drive 5.3.2. Front Wheel Drive 5.3.3. Rear Wheel Drive 5.4. North America Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 5.4.1. Normal Charging 5.4.2. Super Charging 5.4.3. Inductive Charging 5.5. North America Electric Vehicle Market Size and Forecast, by Range (2023-2030) 5.5.1. Up to 150 Miles 5.5.2. 151-300 Miles 5.5.3. Above 300 Miles 5.6. North America Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 5.6.1. Battery Electric Vehicle (BEV) 5.6.2. Hybrid Electric Vehicle (HEV) 5.6.3. Fuel Cell Electric Vehicle (FCEV) 5.7. North America Electric Vehicle Market Size and Forecast, by Country (2023-2030) 5.7.1. United States 5.7.1.1. United States Electric Vehicle Market Size and Forecast, by Component (2023-2030) 5.7.1.1.1. Battery Cells and Packs 5.7.1.1.2. Onboard Chargers 5.7.1.1.3. Power Control Units 5.7.1.1.4. Power Conditioners 5.7.1.1.5. Air Compress 5.7.1.1.6. Others 5.7.1.2. United States Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 5.7.1.2.1. Passenger Car 5.7.1.2.2. Commercial Vehicle 5.7.1.2.3. Two Wheelers and Three Wheelers 5.7.1.3. United States Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 5.7.1.3.1. All Wheel Drive 5.7.1.3.2. Front Wheel Drive 5.7.1.3.3. Rear Wheel Drive 5.7.1.4. United States Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 5.7.1.4.1. Normal Charging 5.7.1.4.2. Super Charging 5.7.1.4.3. Inductive Charging 5.7.1.5. United States Electric Vehicle Market Size and Forecast, by Range (2023-2030) 5.7.1.5.1. Up to 150 Miles 5.7.1.5.2. 151-300 Miles 5.7.1.5.3. Above 300 Miles 5.7.1.6. United States Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 5.7.1.6.1. Battery Electric Vehicle (BEV) 5.7.1.6.2. Hybrid Electric Vehicle (HEV) 5.7.1.6.3. Fuel Cell Electric Vehicle (FCEV) 5.7.2. Canada 5.7.2.1. Canada Electric Vehicle Market Size and Forecast, by Component (2023-2030) 5.7.2.1.1. Battery Cells and Packs 5.7.2.1.2. Onboard Chargers 5.7.2.1.3. Power Control Units 5.7.2.1.4. Power Conditioners 5.7.2.1.5. Air Compress 5.7.2.1.6. Others 5.7.2.2. Canada Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 5.7.2.2.1. Passenger Car 5.7.2.2.2. Commercial Vehicle 5.7.2.2.3. Two Wheelers and Three Wheelers 5.7.2.3. Canada Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 5.7.2.3.1. All Wheel Drive 5.7.2.3.2. Front Wheel Drive 5.7.2.3.3. Rear Wheel Drive 5.7.2.4. Canada Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 5.7.2.4.1. Normal Charging 5.7.2.4.2. Super Charging 5.7.2.4.3. Inductive Charging 5.7.2.5. Canada Electric Vehicle Market Size and Forecast, by Range (2023-2030) 5.7.2.5.1. Up to 150 Miles 5.7.2.5.2. 151-300 Miles 5.7.2.5.3. Above 300 Miles 5.7.2.6. Canada Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 5.7.2.6.1. Battery Electric Vehicle (BEV) 5.7.2.6.2. Hybrid Electric Vehicle (HEV) 5.7.2.6.3. Fuel Cell Electric Vehicle (FCEV 5.7.3. Mexico 5.7.3.1. Mexico Electric Vehicle Market Size and Forecast, by Component (2023-2030) 5.7.3.1.1. Battery Cells and Packs 5.7.3.1.2. Onboard Chargers 5.7.3.1.3. Power Control Units 5.7.3.1.4. Power Conditioners 5.7.3.1.5. Air Compress 5.7.3.1.6. Others 5.7.3.2. Mexico Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 5.7.3.2.1. Passenger Car 5.7.3.2.2. Commercial Vehicle 5.7.3.2.3. Two Wheelers and Three Wheelers 5.7.3.3. Mexico Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 5.7.3.3.1. All Wheel Drive 5.7.3.3.2. Front Wheel Drive 5.7.3.3.3. Rear Wheel Drive 5.7.3.4. Mexico Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 5.7.3.4.1. Normal Charging 5.7.3.4.2. Super Charging 5.7.3.4.3. Inductive Charging 5.7.3.5. Mexico Electric Vehicle Market Size and Forecast, by Range (2023-2030) 5.7.3.5.1. Up to 150 Miles 5.7.3.5.2. 151-300 Miles 5.7.3.5.3. Above 300 Miles 5.7.3.6. Mexico Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 5.7.3.6.1. Battery Electric Vehicle (BEV) 5.7.3.6.2. Hybrid Electric Vehicle (HEV) 5.7.3.6.3. Fuel Cell Electric Vehicle (FCEV) 6. Europe Electric Vehicle Market Size and Forecast by Segmentation by Segmentation (by Value USD Mn and Volume Units) (2023-2030) 6.1. Europe Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.2. Europe Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.3. Europe Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 6.4. Europe Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.5. Europe Electric Vehicle Market Size and Forecast, by Range (2023-2030) 6.6. Europe Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 6.7. Europe Electric Vehicle Market Size and Forecast, by Country (2023-2030) 6.7.1. United Kingdom 6.7.1.1. United Kingdom Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.7.1.2. United Kingdom Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.7.1.3. United Kingdom Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 6.7.1.4. United Kingdom Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.7.1.5. United Kingdom Electric Vehicle Market Size and Forecast, by Range (2023-2030) 6.7.1.6. United Kingdom Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 6.7.2. France 6.7.2.1. France Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.7.2.2. France Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.7.2.3. France Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 6.7.2.4. France Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.7.2.5. France Electric Vehicle Market Size and Forecast, by Range (2023-2030) 6.7.2.6. France Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 6.7.3. Germany 6.7.3.1. Germany Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.7.3.2. Germany Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.7.3.3. Germany Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 6.7.3.4. Germany Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.7.3.5. Germany Electric Vehicle Market Size and Forecast, by Range (2023-2030) 6.7.3.6. Germany Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 6.7.4. Italy 6.7.4.1. Italy Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.7.4.2. Italy Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.7.4.3. Italy Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 6.7.4.4. Italy Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.7.4.5. Italy Electric Vehicle Market Size and Forecast, by Range (2023-2030) 6.7.4.6. Italy Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 6.7.5. Spain 6.7.5.1. Spain Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.7.5.2. Spain Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.7.5.3. Spain Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 6.7.5.4. Spain Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.7.5.5. Spain Electric Vehicle Market Size and Forecast, by Range (2023-2030) 6.7.5.6. Spain Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 6.7.6. Sweden 6.7.6.1. Sweden Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.7.6.2. Sweden Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.7.6.3. Sweden Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 6.7.6.4. Sweden Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.7.6.5. Sweden Electric Vehicle Market Size and Forecast, by Range (2023-2030) 6.7.6.6. Sweden Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 6.7.7. Austria 6.7.7.1. Austria Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.7.7.2. Austria Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.7.7.3. Austria Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 6.7.7.4. Austria Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.7.7.5. Austria Electric Vehicle Market Size and Forecast, by Range (2023-2030) 6.7.7.6. Austria Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 6.7.8. Rest of Europe 6.7.8.1. Rest of Europe Electric Vehicle Market Size and Forecast, by Component (2023-2030) 6.7.8.2. Rest of Europe Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 6.7.8.3. Rest of Europe Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 6.7.8.4. Rest of Europe Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 6.7.8.5. Rest of Europe Electric Vehicle Market Size and Forecast, by Range (2023-2030) 6.7.8.6. Rest of Europe Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 7. Asia Pacific Electric Vehicle Market Size and Forecast by Segmentation by Segmentation (by Value USD Mn and Volume Units) (2023-2030) 7.1. Asia Pacific Electric Vehicle Market Size and Forecast, by Component (2023-2030) 7.2. Asia Pacific Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 7.3. Asia Pacific Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 7.4. Asia Pacific Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 7.5. Asia Pacific Electric Vehicle Market Size and Forecast, by Range (2023-2030) 7.6. Asia Pacific Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 7.7. Asia Pacific Electric Vehicle Market Size and Forecast, by Country (2023-2030) 7.7.1. China 7.7.1.1. China Electric Vehicle Market Size and Forecast, by Component (2023-2030) 7.7.1.2. China Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 7.7.1.3. China Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 7.7.1.4. China Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 7.7.1.5. China Electric Vehicle Market Size and Forecast, by Range (2023-2030) 7.7.1.6. China Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 7.7.2. S Korea 7.7.2.1. S Korea Electric Vehicle Market Size and Forecast, by Component (2023-2030) 7.7.2.2. S Korea Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 7.7.2.3. S Korea Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 7.7.2.4. S Korea Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 7.7.2.5. S Korea Electric Vehicle Market Size and Forecast, by Range (2023-2030) 7.7.2.6. S Korea Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 7.7.3. Japan 7.7.3.1. Japan Electric Vehicle Market Size and Forecast, by Component (2023-2030) 7.7.3.2. Japan Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 7.7.3.3. Japan Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 7.7.3.4. Japan Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 7.7.3.5. Japan Electric Vehicle Market Size and Forecast, by Range (2023-2030) 7.7.3.6. Japan Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 7.7.4. India 7.7.4.1. India Electric Vehicle Market Size and Forecast, by Component (2023-2030) 7.7.4.2. India Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 7.7.4.3. India Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 7.7.4.4. India Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 7.7.4.5. India Electric Vehicle Market Size and Forecast, by Range (2023-2030) 7.7.4.6. India Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 7.7.5. Australia 7.7.5.1. Australia Electric Vehicle Market Size and Forecast, by Component (2023-2030) 7.7.5.2. Australia Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 7.7.5.3. Australia Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 7.7.5.4. Australia Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 7.7.5.5. Australia Electric Vehicle Market Size and Forecast, by Range (2023-2030) 7.7.5.6. Australia Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 7.7.6. ASIAN 7.7.6.1. ASIAN Electric Vehicle Market Size and Forecast, by Component (2023-2030) 7.7.6.2. ASIAN Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 7.7.6.3. ASIAN Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 7.7.6.4. ASIAN Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 7.7.6.5. ASIAN Electric Vehicle Market Size and Forecast, by Range (2023-2030) 7.7.6.6. ASIAN Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 7.7.7. Rest of Asia Pacific 7.7.7.1. Rest of Asia Pacific Electric Vehicle Market Size and Forecast, by Component (2023-2030) 7.7.7.2. Rest of Asia Pacific Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 7.7.7.3. Rest of Asia Pacific Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 7.7.7.4. Rest of Asia Pacific Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 7.7.7.5. Rest of Asia Pacific Electric Vehicle Market Size and Forecast, by Range (2023-2030) 7.7.7.6. Rest of Asia Pacific Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 8. Middle East and Africa Electric Vehicle Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030) 8.1. Middle East and Africa Electric Vehicle Market Size and Forecast, by Component (2023-2030) 8.2. Middle East and Africa Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 8.3. Middle East and Africa Electric Vehicle Market Size and Forecast, by Drive Type(2023-2030) 8.4. Middle East and Africa Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 8.5. Middle East and Africa Electric Vehicle Market Size and Forecast, by Range (2023-2030) 8.6. Middle East and Africa Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 8.7. Middle East and Africa Electric Vehicle Market Size and Forecast, by Country (2023-2030) 8.7.1. South Africa 8.7.1.1. South Africa Electric Vehicle Market Size and Forecast, by Component (2023-2030) 8.7.1.2. South Africa Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 8.7.1.3. South Africa Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 8.7.1.4. South Africa Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 8.7.1.5. South Africa Electric Vehicle Market Size and Forecast, by Range (2023-2030) 8.7.1.6. South Africa Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 8.7.2. GCC 8.7.2.1. GCC Electric Vehicle Market Size and Forecast, by Component (2023-2030) 8.7.2.2. GCC Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 8.7.2.3. GCC Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 8.7.2.4. GCC Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 8.7.2.5. GCC Electric Vehicle Market Size and Forecast, by Range (2023-2030) 8.7.2.6. GCC Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 8.7.3. Nigeria 8.7.3.1. Nigeria Electric Vehicle Market Size and Forecast, by Component (2023-2030) 8.7.3.2. Nigeria Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 8.7.3.3. Nigeria Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 8.7.3.4. Nigeria Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 8.7.3.5. Nigeria Electric Vehicle Market Size and Forecast, by Range (2023-2030) 8.7.3.6. Nigeria Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 8.7.4. Rest of ME&A 8.7.4.1. Rest of ME&A Electric Vehicle Market Size and Forecast, by Component (2023-2030) 8.7.4.2. Rest of ME&A Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 8.7.4.3. Rest of ME&A Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 8.7.4.4. Rest of ME&A Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 8.7.4.5. Rest of ME&A Electric Vehicle Market Size and Forecast, by Range (2023-2030) 8.7.4.6. Rest of ME&A Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 9. South America Electric Vehicle Market Size and Forecast by Segmentation by Segmentation (by Value USD Mn and Volume Units) (2023-2030) 9.1. South America Electric Vehicle Market Size and Forecast, by Component (2023-2030) 9.2. South America Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 9.3. South America Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 9.4. South America Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 9.5. South America Electric Vehicle Market Size and Forecast, by Range (2023-2030) 9.6. South America Market Size and Forecast, by Propulsion Type (2023-2030) 9.7. South America Electric Vehicle Market Size and Forecast, by Country (2023-2030) 9.7.1. Brazil 9.7.1.1. Brazil Electric Vehicle Market Size and Forecast, by Component (2023-2030) 9.7.1.2. Brazil Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 9.7.1.3. Brazil Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 9.7.1.4. Brazil Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 9.7.1.5. Brazil Electric Vehicle Market Size and Forecast, by Range (2023-2030) 9.7.1.6. Brazil Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 9.7.2. Argentina 9.7.2.1. Argentina Electric Vehicle Market Size and Forecast, by Component (2023-2030) 9.7.2.2. Argentina Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 9.7.2.3. Argentina Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 9.7.2.4. Argentina Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 9.7.2.5. Argentina Electric Vehicle Market Size and Forecast, by Range (2023-2030) 9.7.2.6. Argentina Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 9.7.3. Rest Of South America 9.7.3.1. Rest Of South America Electric Vehicle Market Size and Forecast, by Component (2023-2030) 9.7.3.2. Rest Of South America Electric Vehicle Market Size and Forecast, by Vehicle Type (2023-2030) 9.7.3.3. Rest Of South America Electric Vehicle Market Size and Forecast, by Drive Type (2023-2030) 9.7.3.4. Rest Of South America Electric Vehicle Market Size and Forecast, by EV Charging Point Type (2023-2030) 9.7.3.5. Rest Of South America Electric Vehicle Market Size and Forecast, by Range (2023-2030) 9.7.3.6. Rest Of South America Electric Vehicle Market Size and Forecast, by Propulsion Type (2023-2030) 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 (Technological strengths and weaknesses) 10.1.5. Strategic Analysis (Recent strategic moves) 10.1.6. Recent Developments 10.2. Rivian - (United States) 10.3. Chevrolet - (United States) 10.4. Lucid Motors - (United States) 10.5. Ford - (United States) 10.6. Fisker - (United States) 10.7. Nikola - (United States) 10.8. Proterra - (United States) 10.9. Canoo - (United States) 10.10. Lion Electric - (Canada) 10.11. Hyliion - (United States) 10.12. Hyzon Motors - (United States) 10.13. Faraday Future - (United States) 10.14. Lordstown Motors - (United States) 10.15. BMW - (Germany) 10.16. Stellantis - (Netherlands) 10.17. Arrival - (United Kingdom) 10.18. Volkswagen - (Germany) 10.19. Polestar - (Sweden) 10.20. NIO - (China) 10.21. BYD - (China) 10.22. SAIC Motors - (China) 10.23. GAC Motors- (China) 10.24. NIU - (China) 10.25. Tata Motors- (India) 10.26. Geely- (China) 10.27. Wuling Hong Guang MINI EV- (China) 10.28. Kia - (South Korea) 10.29. Gogoro - (Taiwan) 10.30. XPeng - (China) 10.31. Toyota - (Japan) 10.32. Li Auto - (China) 10.33. Nissan - (Japan) 11. Key Findings and Analyst Recommendations 12. Electric Vehicle Market: Research Methodology 12.1. Market Size Estimation Methodology 12.1.1. Bottom-Up Approach 12.1.2. Top-Down Approach
