Electric Vehicle Sales Market Overview
Increasing investments by governments across the world to develop ev charging stations and fuelling refuelling stations beside incentives offered to patrons can produce opportunities for OEMs to expand their revenue stream and geographical presence. The market in Asia Pacific is projected to expertise steady growth owing to the high demand for lower cost-efficient and low-emission vehicles, whereas the North American and European market is invasive markets because of the govt initiatives and growing superior rider vehicle section. However, the low presence of ev charging stations and atomic number 1 fuel stations, higher prices concerned in initial investments, and performance constraints might hamper the growth of the global electrical vehicle market.
| Report Metric |
Details |
| Market size available for years |
2023–2030 |
| Base year considered |
2023 |
| Forecast period |
2024–2030 |
| Forecast unit |
Value (USD Million) |
| Segments covered |
Vehicle Type, Battery Type, and Region |
| Regions covered |
North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered |
AB Volvo, BYD company Ltd. Daimler AG, Dongfeng Motor Company, Geely Automobiles Holdings Limited, Man SE, Paccar Inc.,Scania ,Tata Motors, Workhorse. |
The COVID-19 Impact on Electric Vehicle Sales Market:
Like several different industries, COVID-19 badly knocked the electronic and semiconductor trade. This new event has compact nearly 230 countries in exactly a couple of weeks, leading to the forced conclusion of producing and transportation activities at intervals and across the countries. This has directly affected the expansion of the sector. It's calculable that COVID-19 to depart over USD thirty billion impacts on the physics and semiconductor trade. The arena is majorly affected thanks to transport restrictions on major physics and semiconductor staple suppliers. However, the rising want for semiconductors in many industries can supply fast market recovery over the longer-term amount.
Electric Vehicle Sales Market Segment Overview
By Propulsion, The BEV segment to be the largest segment by the top of the forecast period, Due to increasing concerns for emission reductions by countries around the world, BEVs have an increasing demand. Earlier because of the low availability of charging stations and high cost of ev batteries, BEVs had an occasional demand. However, because of the decreasing price of ev batteries at a fast and steady rate let alone increasing ev vary and a growing electron volt charging network round the world, the demand for BEVs has been rising considerably.
By Vehicle Drive Type, Rear-wheel Drive EV’s to be higher in demand throughout the forecast amount; the demand for RWD EVs has been on the rise across all regions, notably across Asia Pacific and Europe. This is often because of its easier vehicle control and growing demand for these vehicles. North America additionally has seen a quicker growth in these vehicles with Tesla Model three standard version, BMW i3, Volkswagen ID4, Porsche Tycan, etc. leading the market. within the coming back decade, the expansion of RWD EV’s are going to be highest in MEA because of its newer market and largely across Asia Pacific. The Wuling Hongguang mini electron volt that created an enormous splash within the electron volt market in 2020 is additionally associate degree RWD in style across Asia and Europe.
Market Analysis, Insights and Forecast – By Propulsion
· BEV
· PHEV
· FCEV
Market Analysis, Insights and Forecast – By Vehicle Drive Type
· Front-Wheel Drive
· Rear Wheel Drive
· All Wheel Drive
Electric Vehicle Sales Market Regional Overview
Region-wise, in terms of regions, The Asia Pacific market is projected to carry the biggest share by 2030.The Asia Pacific electron volt market is diode by countries like China, Japan and South Korea. China being the world’s largest electron volt producer and user includes dominance within the electron volt business within the region. Their government has taken steps as well as subsidies for electron volt consumers, required laws by that all vehicle makers have to be compelled to manufacture EV’s per range of vehicles factory-made, massive support to installation of electron volt charging points across major cities and rules against excessive polluting vehicles. Japan and South Korea have additionally been growing their electron volt market. Their governments have supported the electron volt demand growth by putting in electron volt charging stations, creating emission norms, putting in deadlines for shifting to full or hybrid EVs from ICE vehicles, etc. India is also engaged on increasing its electron volt demand within the market. The new vehicle scrappage policy during which previous vehicles will be scrapped off for dynamical to low emission ones and alternative future policies can facilitate the country become the region's fastest-growing marketplace for EV’s within the coming back years.
Electric Vehicle Sales Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Electric Vehicle Sales Market Competitor overview
Some key developments and strategies adopted by manufacturers in the Electric Vehicle Sales are highlighted below.
· In August 2020, Okinawa Autotech launched its new electrical scooter, R30. The scooter belongs to the low-speed range, having a most speed of 25 km/h.
Electric Vehicle Sales Market, Key Players
· Ampere Vehicles
· Benling India Energy and Technology Pvt Ltd
· BMW AG
· BYD Company Limited
· Chevrolet Motor Company
· Daimler AG
· Energica Motor Company S.p.A.
· Ford Motor Company
· General Motors
· Hero Electric
· Hyundai Motor Company
· Karma Automotive
· Kia Corporation
· Lucid Group, Inc.
Frequently Asked Questions (FAQ) :
Q1. What is the total CAGR expected to be recorded for the Electric Vehicle Sales market during the forecast period?
Electric Vehicle Sales market is expected to record a CAGR of ~ xx% during the forecast period.
Q2. Which segment is projected to hold the largest share in the Electric Vehicle Sales Market?
BEV segment is projected to hold the largest share in the Electric Vehicle Sales Market
Q3. What are the driving factors for the Electric Vehicle Sales market?
Due to technological advancements and production of ev batteries on a mass scale, the cost of energy unit batteries has been decreasing over the past decade are key factors that boost the growth of the Electric Vehicle Sales market progressively
Q4. Which Segments are covered in the Electric Vehicle Sales market report?
By Propulsion, Vehicle Drive Type, and Region, these segments are covered in the Electric Vehicle Sales market report
Q5. Which are the prominent players offering Electric Vehicle Sales?
Ampere Vehicles, Benling India Energy and Technology Pvt Ltd , BMW AG ,BYD Company Limited ,Chevrolet Motor Company,Daimler AG ,Energica Motor Company S.p.A. ,Ford Motor Company ,General Motors ,Hero Electric ,Hyundai Motor Company ,Karma Automotive ,Kia Corporation ,Lucid Group, Inc.
List of Figures
Figure 1: Global Electric Vehicle Sales Market Revenue Breakdown (USD Billion, %) by Region, 2019 & 2027
Figure 2: Global Electric Vehicle Sales Market Value Share (%), By Segment 1, 2019 & 2027
Figure 3: Global Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 4: Global Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 5: Global Electric Vehicle Sales Market Value Share (%), By Segment 2, 2019 & 2027
Figure 6: Global Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 7: Global Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 8: Global Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 9: Global Electric Vehicle Sales Market Forecast (USD Billion), by Others, 2016-2027
Figure 10: Global Electric Vehicle Sales Market Value Share (%), By Segment 3, 2019 & 2027
Figure 11: Global Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 12: Global Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 13: Global Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 14: Global Electric Vehicle Sales Market Forecast (USD Billion), by Others, 2016-2027
Figure 15: Global Electric Vehicle Sales Market Value (USD Billion), by Region, 2019 & 2027
Figure 16: North America Electric Vehicle Sales Market Value Share (%), By Segment 1, 2019 & 2027
Figure 17: North America Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 18: North America Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 19: North America Electric Vehicle Sales Market Value Share (%), By Segment 2, 2019 & 2027
Figure 20: North America Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 21: North America Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 22: North America Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 23: North America Electric Vehicle Sales Market Forecast (USD Billion), by Others, 2016-2027
Figure 24: North America Electric Vehicle Sales Market Value Share (%), By Segment 3, 2019 & 2027
Figure 25: North America Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 26: North America Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 27: North America Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 28: North America Electric Vehicle Sales Market Forecast (USD Billion), by Others, 2016-2027
Figure 29: North America Electric Vehicle Sales Market Forecast (USD Billion), by U.S., 2016-2027
Figure 30: North America Electric Vehicle Sales Market Forecast (USD Billion), by Canada, 2016-2027
Figure 31: Latin America Electric Vehicle Sales Market Value Share (%), By Segment 1, 2019 & 2027
Figure 32: Latin America Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 33: Latin America Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 34: Latin America Electric Vehicle Sales Market Value Share (%), By Segment 2, 2019 & 2027
Figure 35: Latin America Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 36: Latin America Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 37: Latin America Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 38: Latin America Electric Vehicle Sales Market Forecast (USD Billion), by Others, 2016-2027
Figure 39: Latin America Electric Vehicle Sales Market Value Share (%), By Segment 3, 2019 & 2027
Figure 40: Latin America Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 41: Latin America Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 42: Latin America Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 43: Latin America Electric Vehicle Sales Market Forecast (USD Billion), by Others, 2016-2027
Figure 44: Latin America Electric Vehicle Sales Market Forecast (USD Billion), by Brazil, 2016-2027
Figure 45: Latin America Electric Vehicle Sales Market Forecast (USD Billion), by Mexico, 2016-2027
Figure 46: Latin America Electric Vehicle Sales Market Forecast (USD Billion), by Rest of Latin America, 2016-2027
Figure 47: Europe Electric Vehicle Sales Market Value Share (%), By Segment 1, 2019 & 2027
Figure 48: Europe Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 49: Europe Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 50: Europe Electric Vehicle Sales Market Value Share (%), By Segment 2, 2019 & 2027
Figure 51: Europe Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 52: Europe Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 53: Europe Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 54: Europe Electric Vehicle Sales Market Forecast (USD Billion), by Others, 2016-2027
Figure 55: Europe Electric Vehicle Sales Market Value Share (%), By Segment 3, 2019 & 2027
Figure 56: Europe Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 57: Europe Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 58: Europe Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 59: Europe Electric Vehicle Sales Market Forecast (USD Billion), by Others, 2016-2027
Figure 60: Europe Electric Vehicle Sales Market Forecast (USD Billion), by U.K., 2016-2027
Figure 61: Europe Electric Vehicle Sales Market Forecast (USD Billion), by Germany, 2016-2027
Figure 62: Europe Electric Vehicle Sales Market Forecast (USD Billion), by France, 2016-2027
Figure 63: Europe Electric Vehicle Sales Market Forecast (USD Billion), by Italy, 2016-2027
Figure 64: Europe Electric Vehicle Sales Market Forecast (USD Billion), by Spain, 2016-2027
Figure 65: Europe Electric Vehicle Sales Market Forecast (USD Billion), by Russia, 2016-2027
Figure 66: Europe Electric Vehicle Sales Market Forecast (USD Billion), by Rest of Europe, 2016-2027
Figure 67: Asia Pacific Electric Vehicle Sales Market Value Share (%), By Segment 1, 2019 & 2027
Figure 68: Asia Pacific Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 69: Asia Pacific Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 70: Asia Pacific Electric Vehicle Sales Market Value Share (%), By Segment 2, 2019 & 2027
Figure 71: Asia Pacific Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 72: Asia Pacific Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 73: Asia Pacific Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 74: Asia Pacific Electric Vehicle Sales Market Forecast (USD Billion), by Others, 2016-2027
Figure 75: Asia Pacific Electric Vehicle Sales Market Value Share (%), By Segment 3, 2019 & 2027
Figure 76: Asia Pacific Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 77: Asia Pacific Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 78: Asia Pacific Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 79: Asia Pacific Electric Vehicle Sales Market Forecast (USD Billion), by Others, 2016-2027
Figure 80: Asia Pacific Electric Vehicle Sales Market Forecast (USD Billion), by China, 2016-2027
Figure 81: Asia Pacific Electric Vehicle Sales Market Forecast (USD Billion), by India, 2016-2027
Figure 82: Asia Pacific Electric Vehicle Sales Market Forecast (USD Billion), by Japan, 2016-2027
Figure 83: Asia Pacific Electric Vehicle Sales Market Forecast (USD Billion), by Australia, 2016-2027
Figure 84: Asia Pacific Electric Vehicle Sales Market Forecast (USD Billion), by Southeast Asia, 2016-2027
Figure 85: Asia Pacific Electric Vehicle Sales Market Forecast (USD Billion), by Rest of Asia Pacific, 2016-2027
Figure 86: Middle East & Africa Electric Vehicle Sales Market Value Share (%), By Segment 1, 2019 & 2027
Figure 87: Middle East & Africa Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 88: Middle East & Africa Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 89: Middle East & Africa Electric Vehicle Sales Market Value Share (%), By Segment 2, 2019 & 2027
Figure 90: Middle East & Africa Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 91: Middle East & Africa Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 92: Middle East & Africa Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 93: Middle East & Africa Electric Vehicle Sales Market Forecast (USD Billion), by Others, 2016-2027
Figure 94: Middle East & Africa Electric Vehicle Sales Market Value Share (%), By Segment 3, 2019 & 2027
Figure 95: Middle East & Africa Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 96: Middle East & Africa Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 97: Middle East & Africa Electric Vehicle Sales Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 98: Middle East & Africa Electric Vehicle Sales Market Forecast (USD Billion), by Others, 2016-2027
Figure 99: Middle East & Africa Electric Vehicle Sales Market Forecast (USD Billion), by GCC, 2016-2027
Figure 100: Middle East & Africa Electric Vehicle Sales Market Forecast (USD Billion), by South Africa, 2016-2027
Figure 101: Middle East & Africa Electric Vehicle Sales Market Forecast (USD Billion), by Rest of Middle East & Africa, 2016-2027
List of Tables
Table 1: Global Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 2: Global Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 3: Global Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 4: Global Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Region, 2016-2027
Table 5: North America Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 6: North America Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 7: North America Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 8: North America Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 9: Europe Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 10: Europe Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 11: Europe Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 12: Europe Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 13: Latin America Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 14: Latin America Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 15: Latin America Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 16: Latin America Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 17: Asia Pacific Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 18: Asia Pacific Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 19: Asia Pacific Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 20: Asia Pacific Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 21: Middle East & Africa Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 22: Middle East & Africa Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 23: Middle East & Africa Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 24: Middle East & Africa Electric Vehicle Sales Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Research Process
Data Library Research are conducted by industry experts who offer insight on
industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager
and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Primary Research
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary Research
Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size Estimation
Both, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
