Electric Vehicles Market 2021-2026: Size, Share, Trends, Growth, Outlook, Analysis, and Forecast

As per the latest report by IMARC Group, titled "Electric Vehicles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" , the global electric vehicles market reached a volume of 2.45 Million Units in 2020. Looking forward, IMARC Group expects the global electric vehicles market to grow at a CAGR of around 47% during 2021-2026. Electric vehicles (EVs) refer to eco-friendly automobiles that operate on electric power. They are equipped with motors and rechargeable batteries, such as lithium-ion, zinc-air, molten salt and nickel-based batteries. They produce relatively lesser carbon emissions and require low maintenance. Due to the increasing environmental concerns among the masses, there has been a considerable rise in the adoption of EVs across the globe.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.


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Global Electric Vehicles Market Trends and Drivers:

The global market is primarily driven by significant growth in the automotive sector. Moreover, continual technological advancements in the sector to enhance the overall efficiency of these vehicles while reducing vehicular emissions are also contributing to the market growth. Along with this, the introduction of graphene-based batteries that provide instant charging facilities is creating a positive outlook for the market. The market is further driven by rapid urbanization and the inflating disposable incomes of the masses, especially in the developing economies, and extensive research and development (R&D) activities conducted by key players to introduce variants with improved facilities.

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Key Market Segmentation:

Competitive Landscape:                      

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:     

  • Bayerische Motoren Werke AG
  • BYD Auto
  • Chery
  • Daimler AG
  • Ford Motor Company
  • Geely
  • General Motors
  • Honda Motor Company
  • Hyundai Motor Company
  • Nissan
  • Renault
  • SAIC Motor
  • Tesla Inc. Toyota Motor Corporation
  • Volkswagen

Market Breakup by Component:

  • Battery Cells & Packs
  • On-Board Charger
  • Fuel Stack

Market Breakup by Charging Type:

  • Slow Charging
  • Fast Charging

Market Breakup by Propulsion Type:

  • Battery Electric Vehicle (BEV)
  • Fuel Cell Electric Vehicle (FCEV)
  • Plug-In Hybrid Electric Vehicle (PHEV)
  • Hybrid Electric Vehicle (HEV)

Market Breakup by Vehicle Type:

  • Passenger Vehicles
  • Commercial Vehicles
  • Others

Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

  • Market Performance (2015-2020)
  • Market Outlook (2021-2026)
  • COVID-19 Impact on the Market
  • Porter's Five Forces Analysis
  • Historical, Current and Future Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Structure of the Market
  • Value Chain Analysis
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.