GLOBAL ELECTRIC VEHICLE MARKET FORECAST 2018-2026

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GLOBAL ELECTRIC VEHICLE MARKET FORECAST 2018-2026

 Global Electric Vehicle market (EV) is expected to grow with 21.40% CAGR during the forecast period of 2018-2026. The base year considered for the market study is 2017 and the estimated period is between 2018 and 2026. Several factors that are responsible for the market progression are: Rising CO2, Greenhouse gas emissions & Energy consumption from transport. Government initiatives encouraging the use electric vehicles

GLOBAL ELECTRIC VEHICLE MARKET FORECAST 2018-2026

Global Electric Vehicle Market by Vehicle Type (Commercial Vehicles, Passenger Cars, Two Wheelers & Other Vehicles) by Power Source (Stored Electricity, on Board Electricity Generator) by Technology (Hybrid Electric Vehicle, Battery Electrical Vehicles, Plug-in Hybrid Electrical Vehicle) by Geography

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Global Electric Vehicle (EV) market is expected to grow with 21.40% CAGR during the forecast period of 2018-2026. The base year considered for the market study is 2017 and the estimated period is between 2018 and 2026. Several factors that are responsible for the market progression are:

  • Rising CO2, Greenhouse gas emissions & Energy consumption from transport
  • Government initiatives encouraging the use electric vehicles
  • Easy availability and low cost of Li-ON batteries
  • It is a cost-effective energy source in comparison to petroleum products
  • Increasing disposable income

However, global EV market is primarily driven by government regulations to limit greenhouse gas emissions and proactive government policies to promote electric vehicles. Moreover, high R&D expenditures to develop better products in electric vehicles are creating huge growth opportunities for the global electric vehicle market. For instance, in September 2017, Volkswagen announced $XX billion investment in electric cars and batteries to develop zero-emission vehicles.

Electric Vehicle Market

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Commercial vehicle segment is a dominating market segment, with a revenue share of around XX% in 2017. It is boosted by various factors such as rising investment in commercial vehicle segment by key players, growing concerns towards carbon dioxide emission from the vehicles, and government initiatives towards the adoption of electric vehicle cars across the world. Government environmental initiatives are anticipated to increase the demand of electrified commercial vehicles. Electrical commercial vehicles such as trucks, vans, buses can be used on both unpaved and paved roads in cities. The commercial electric vehicles are also equipped with an energy recovery system that can further reduce the already low consumption of energy. On the basis of per-mile, the Electric commercial vehicles’ (ECVs) energy are approximately four times less costly as compared to conventional diesel trucks. Moreover, electric vehicles are simpler to maintain, but there are uncertainties related to the long-term cost and life of the batteries used in commercial electric vehicles.

Some of the key challenges that are restraining the market growth are: low performance in comparison with traditional vehicles, low interest amongst consumers, poor infrastructure for charging of electric vehicles & relatively higher cost of electric vehicles.

Global Electric Vehicle (EV) market has been segmented on the basis of vehicle type, power source, and technology. Their further sub-segmentation is as follows:-

By Vehicle Type:

  • Two wheelers
  • Passenger cars
  • Commercial vehicles
  • Others

By Power source Type:

  • Stored electricity
  • Onboard electricity generator

By Technology:

  • Hybrid electric vehicle
  • Battery electric vehicles
  • Plug-in Hybrid electric vehicles

The total market revenue is calculated on the basis of the total number of electric vehicle sales globally. However, the report scope is restricted to the revenues generated from the sales of two-wheelers, passenger, and commercial vehicles and does not include revenues generated from heavy locomotives such as electric trains and others.

Geographically, the global electric vehicle market has been segmented on the basis of four major regions, which includes:

Geographically, Asia Pacific dominated the global electric vehicle market with a revenue share of XX% in 2017. Asia Pacific is also anticipated to be growing with the fastest CAGR of XX% during forecast period. In the present scenario, Asia Pacific countries such as India, China and Japan are badly impacted by the CO2 emissions as the industrialization is on its peak in these regions, resulting into the large-scale establishment of manufacturing and production units of automobiles in the countries as the resources are cheap in this region as compared to Europe and North America. The constant rise in the CO2 emissions has led the governments and automobile organization to enhance the adoption and manufacturing of electric automobiles which will help in the reduction of CO2 emissions and act as a strong substitute for the petrol and diesel engine based cars. China and Japan are providing various types of incentives to promote the utility of electric vehicle in the form of tax redemption and purchase discounts along with the presence of many multinational organizations which are Asia-pacific based such as Toyota Motor Corporation, Honda and Nissan. This is also fueling growth in the Asia-pacific automobile market & giving rise to increasing adoption of electric vehicles.

Global electric vehicle market has been segmented on the basis of technology, power source and vehicle. The vehicle segment is further segmented into passenger cars, commercial vehicles, two-wheelers and other vehicles. The segment in global electric vehicle market by the power source is segmented into two major categories such as : stored electricity and onboard electricity generator. The global electric vehicle market by technology is divided into three major categories:- Hybrid electric vehicles, Plug-In hybrid electric vehicles and Battery electric vehicles.

The key companies operating in the global Electric Vehicle (EV) market are:

  • BYD Company Ltd
  • Daimler AG
  • General Motors
  • Nissan Motor Co., Ltd.
  • Tesla, Inc.
  • Others

Market Share Analysis, Key Company Analysis, Corporate strategies & Company profiles of the prominent market players are discussed in detail. Most of the companies look for strategies such as merger & acquisition, partnership, contracts, agreements, and new product launch, in order to gain a competitive edge over other companies. For instance, in March 2018, Volkswagen unveiled the latest car of a series of electric vehicle concepts that serve as the basis of new generation of production electric vehicles coming in 2020. The new I.D. VIZZION features a 111 kWh battery pack, self-driving technology. In January 2018, Vietnam partnered with Mitsubishi Motors on the research and development for electric vehicles. In September 2017, Nissan, Hyundai, and Renault SA announced to invest in India’s $XX million order for electric vehicles. This initiative was taken to reduce emissions and curb fuel imports in India.

Key findings of the Global Electric Vehicle (EV) market:

  • Asia Pacific leads the global electric vehicle market by capturing the largest market share of XX% in 2017. Additionally, the market is anticipated to grow with the highest CAGR of XX% during the forecast period
  • Hybrid electric vehicle market dominated the technology segment of the global electric vehicle market by capturing the largest market share of over XX% in 2017.
  • Commercial electric vehicle market dominated the vehicle type segment of the global electric vehicle market by capturing the largest market share of over XX% in 2017.
  • China leads the global electric vehicle market by capturing the largest market share of over XX% in 2017. The Chinese electric vehicle market is primarily driven by well-established battery market of China and the proactive government support for the adoption of electric vehicles
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • ASIA PACIFIC REGION HOLDS A LION SHARE OF THE OVERALL MARKET
      • PROACTIVE GOVERNMENT SUPPORT IS DRIVING THE MARKET IN CHINA FOR EV
      • DUAL ENERGY TECHNOLOGY IS THE CORNERSTONE OF HYBRID ELECTRIC VEHICLES
      • COMMERCIAL VEHICLES ARE TAKING THE LEAD IN THE ELECTRIC VEHICLES MARKET
  1. MARKET DYNAMICS
    • ETYMOLOGY OF THE EV MARKET
    • BENEFITS & LIMITATIONS OF ELECTRIC VEHICLES
    • MARKET DEFINITION AND SCOPE
    • MARKET DRIVERS
      • RISING CO2, GREENHOUSE GAS EMISSIONS & ENERGY CONSUMPTION FROM TRANSPORT
      • GOVERNMENT INITIATIVES ENCOURAGING THE USE ELECTRIC VEHICLES
      • EASY AVAILABILITY AND LOW COST OF LI-ON BATTERIES
      • COST EFFECTIVE ENERGY SOURCE IN COMPARISON TO PETROLEUM PRODUCTS
      • INCREASING DISPOSABLE INCOME
    • MARKET RESTRAINTS
      • POOR INFRASTRUCTURE FOR CHARGING OF ELECTRIC VEHICLES
      • RELATIVELY HIGHER COST OF ELECTRIC VEHICLES
    • MARKET OPPORTUNITIES
      • HIGH ALLOCATION EXPENDITURE TOWARDS RESEARCH AND INNOVATION
      • GOVERNMENT INITIATIVES TO REDUCE GREENHOUSE EMISSION
    • MARKET CHALLENGES
      • LOW PERFORMANCE IN COMPARISON WITH TRADITIONAL VEHICLES
      • LOW INTEREST AMONGST CONSUMERS
  1. MARKET BY VEHICLE TYPE
    • COMMERCIAL VEHICLES
    • PASSENGER CARS
    • TWO WHEELERS
    • OTHER VEHICLES
  2. MARKET BY POWER SOURCE
    • STORED ELECTRICITY
    • ON BOARD ELECTRICITY GENERATOR
  3. MARKET BY TECHNOLOGY
    • HYBRID ELECTRIC VEHICLE
    • BATTERY ELECTRICAL VEHICLES
    • PLUG-IN HYBRID ELECTRICAL VEHICLE
  4. KEY ANALYTICS
    • PORTER’S FIVE FORCE ANALYSIS
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
      • INTENSITY OF COMPETITIVE RIVALRY
    • OPPORTUNITY MATRIX
    • VALUE CHAIN ANALYSIS
      • DEMAND FORECAST, RESEARCH & DEVELOPMENT
      • PRODUCTION PROGRAMMING, SCHEDULING AND SUPPLIERS SCHEDULING
      • INBOUND LOGISTICS & PRODUCTION
      • OUTBOUND LOGISTICS
      • DEALERS/DISTRIBUTORS
      • END USERS/CUSTOMERS
    • LEGAL, POLICY & REGULATORY FRAMEWORK
    • KEY BUYING CRITERIA
      • GOVERNMENT SUPPORT
      • TECHNICAL CHARACTERISTICS
      • INFRASTRUCTURE
      • COST
    • INVESTMENT ANALYSIS
      • BY REGION
      • BY VEHICLE TYPE
  1. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • FRANCE
      • GERMANY
      • SPAIN
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST AND AFRICA
  1. COMPETITIVE LANDSCAPE
    • MARKET SHARE ANALYSIS
    • KEY COMPANY ANALYSIS
      • BYD COMPANY LTD
      • DAIMLER AG
      • GENERAL MOTORS
      • NISSAN MOTOR CO., LTD.
      • TESLA, INC.
    • CORPORATE STRATEGIES
      • PARTNERSHIP & COLLABORATION
      • PRODUCT LAUNCH
      • BUSINESS EXPANSION
      • JOINT VENTURE
      • INVESTMENT
    • COMPANY PROFILES
      • BAYERISCHE MOTOREN WERKE AG
      • BYD COMPANY LTD
      • DAIMLER AG
      • FIAT CHRYSLER AUTOMOBILES N.V
      • FORD MOTOR COMPANY
      • GENERAL MOTORS COMPANY
      • GROUPE PSA
      • HONDA MOTOR COMPANY
      • HYUNDAI MOTOR
      • MITSUBISHI
      • NISSAN MOTOR CO., LTD.
      • TESLA MOTORS, INC
      • TOYOTA INDUSTRIES CORPORATION
      • VOLKSWAGEN AG
      • ZHEJIANG GEELY HOLDING GROUP

 

LIST OF TABLES

TABLE 1: GLOBAL ELECTRIC VEHICLE MARKET, BY GEOGRAPHY, 2018-2026 (IN $ MILLION)

TABLE 2: BENEFITS & LIMITATIONS OF ELECTRIC VEHICLES

TABLE 3: WORLDWIDE LITHIUM-ION BATTERY PRODUCTION CAPACITY (GWH)

TABLE 4: COST COMPARISON OF EV’S TO THEIR GAS-POWERED COUNTERPART

TABLE 5: GLOBAL ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2018-2026 (IN $ MILLION)

TABLE 6: GLOBAL COMMERCIAL VEHICLES MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 7: GLOBAL PASSENGER CARS MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 8: GLOBAL TWO WHEELERS MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 9: PROJECTED ELECTRICITY-POWERED TWO-WHEELER SALES IN THE UNITED STATES IN 2015 AND 2024, BY TYPE (IN UNITS)

TABLE 10: GLOBAL OTHER VEHICLES MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 11: GLOBAL ELECTRIC VEHICLE MARKET, BY POWER SOURCE, 2018-2026 (IN $ MILLION)

TABLE 12: GLOBAL STORED ELECTRICITY MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 13: GLOBAL ON BOARD ELECTRICITY GENERATOR MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 14: GLOBAL ELECTRIC VEHICLE MARKET, BY TECHNOLOGY, 2018-2026 (IN $ MILLION)

TABLE 15: GLOBAL HYBRID ELECTRIC VEHICLE MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 16: GLOBAL BATTERY ELECTRICAL VEHICLES MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 17: GLOBAL PLUG-IN HYBRID ELECTRICAL VEHICLE MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 18: OPPORTUNITY MATRIX OF ELECTRIC VEHICLE MARKET

TABLE 19: VENDOR LANDSCAPE OF ELECTRIC VEHICLE MARKET

TABLE 20: GLOBAL ELECTRIC VEHICLE MARKET, BY GEOGRAPHY, 2018-2026, (IN $ MILLION)

TABLE 21: NORTH AMERICA ELECTRIC VEHICLE MARKET, BY COUNTRY, 2018-2026 (IN $ MILLION)

TABLE 22: EUROPE ELECTRIC VEHICLE MARKET, BY COUNTRY, 2018-2026 (IN $ MILLION)

TABLE 23: ASIA PACIFIC ELECTRIC VEHICLE MARKET, BY COUNTRY, 2018-2026 (IN $ MILLION)

TABLE 24: REST OF WORLD ELECTRIC VEHICLE MARKET, BY GEOGRAPHY, 2018-2026 (IN $ MILLION)

TABLE 25: LIST OF PARTNERSHIP & COLLABORATION

TABLE 26: LIST OF PRODUCT LAUNCHES

TABLE 27: LIST OF BUSINESS EXPANSION

TABLE 28: LIST OF JOINT VENTURES

TABLE 29: LIST OF INVESTMENTS

LIST OF FIGURES

FIGURE 1: GLOBAL ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2017 & 2026 (IN %)

FIGURE 2: ASIA PACIFIC ELECTRIC VEHICLE MARKET 2018-2026 (IN $ MILLION)

FIGURE 3: CHINA ELECTRIC VEHICLE MARKET 2018-2026 (IN $ MILLION)

FIGURE 4: GLOBAL HYBRID ELECTRIC VEHICLE MARKET 2018-2026 (IN $ MILLION)

FIGURE 5: GLOBAL COMMERCIAL ELECTRIC VEHICLE MARKET 2018-2026 (IN $ MILLION)

FIGURE 6: TIMELINE OF ELECTRIC VEHICLE MARKET

FIGURE 7: ELECTRIC VEHICLE CHARGING STATIONS IN GERMANY

FIGURE 8: GLOBAL ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2017 & 2026 (IN %)

FIGURE 9: GLOBAL ELECTRIC VEHICLE MARKET, BY COMMERCIAL VEHICLES, 2018-2026 (IN $ MILLION)

FIGURE 10: GLOBAL ELECTRIC VEHICLE MARKET, BY PASSENGER CARS, 2018-2026 (IN $ MILLION)

FIGURE 11: GLOBAL ELECTRIC VEHICLE MARKET, BY TWO WHEELERS, 2018-2026 (IN $ MILLION)

FIGURE 12: GLOBAL ELECTRIC VEHICLE MARKET, BY OTHER VEHICLES, 2018-2026 (IN $ MILLION)

FIGURE 13: GLOBAL ELECTRIC VEHICLE MARKET, BY POWER SOURCE, 2017 & 2026 (IN %)

FIGURE 14: GLOBAL ELECTRIC VEHICLE MARKET, BY STORED ELECTRICITY, 2018-2026 (IN $ MILLION)

FIGURE 15: GLOBAL ELECTRIC VEHICLE MARKET, BY ON BOARD ELECTRICITY GENERATOR, 2018-2026 (IN $ MILLION)

FIGURE 16: GLOBAL ELECTRIC VEHICLE MARKET, BY TECHNOLOGY, 2017 & 2026 (IN %)

FIGURE 17: GLOBAL ELECTRIC VEHICLE MARKET, BY HYBRID ELECTRIC VEHICLE, 2018-2026 (IN $ MILLION)

FIGURE 18: GLOBAL ELECTRIC VEHICLE MARKET, BY BATTERY ELECTRICAL VEHICLES, 2018-2026 (IN $ MILLION)

FIGURE 19: GLOBAL ELECTRIC VEHICLE MARKET, BY PLUG-IN HYBRID ELECTRICAL VEHICLE, 2018-2026 (IN $ MILLION)

FIGURE 20: PORTER’S FIVE FORCE MODEL OF ELECTRIC VEHICLE MARKET

FIGURE 21: SUPPLY CHAIN OF E-VEHICLE INDUSTRY (BUILD-TO-FORECAST METHOD)

FIGURE 22: REGULATORY FRAMEWORK OF ELECTRIC VEHICLE MARKET

FIGURE 23: KEY BUYING IMPACT ANALYSIS

FIGURE 24: INVESTMENT ANALYSIS OF ELECTRIC VEHICLE MARKET, BY REGION, 2017

FIGURE 25: INVESTMENT ANALYSIS OF ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2017

FIGURE 26: GLOBAL ELECTRIC VEHICLE MARKET, REGIONAL OUTLOOK, 2017 & 2026 (IN %)

FIGURE 27: UNITED STATES ELECTRIC VEHICLE MARKET, 2018-2026 (IN $ MILLION)

FIGURE 28: CANADA ELECTRIC VEHICLE MARKET, 2018-2026 (IN $ MILLION)

FIGURE 29: UNITED KINGDOM ELECTRIC VEHICLE MARKET, 2018-2026 (IN $ MILLION)

FIGURE 30: FRANCE ELECTRIC VEHICLE MARKET, 2018-2026 (IN $ MILLION)

FIGURE 31: GERMANY ELECTRIC VEHICLE MARKET, 2018-2026 (IN $ MILLION)

FIGURE 32: SPAIN ELECTRIC VEHICLE MARKET, 2018-2026 (IN $ MILLION)

FIGURE 33: REST OF EUROPE ELECTRIC VEHICLE MARKET, 2018-2026 (IN $ MILLION)

FIGURE 34: CHINA ELECTRIC VEHICLE MARKET, 2018-2026 (IN $ MILLION)

FIGURE 35: JAPAN ELECTRIC VEHICLE MARKET, 2018-2026 (IN $ MILLION)

FIGURE 36: INDIA ELECTRIC VEHICLE MARKET, 2018-2026 (IN $ MILLION)

FIGURE 37: AUSTRALIA ELECTRIC VEHICLE MARKET, 2018-2026 (IN $ MILLION)

FIGURE 38: REST OF ASIA PACIFIC ELECTRIC VEHICLE MARKET, 2018-2026 (IN $ MILLION)

FIGURE 39: LATIN AMERICA ELECTRIC VEHICLE MARKET, 2018-2026 (IN $ MILLION)

FIGURE 40: MIDDLE EAST AND AFRICA ELECTRIC VEHICLE MARKET, 2018-2026 (IN $ MILLION)

FIGURE 41: MARKET SHARE ANALYSIS OF TOP PLAYERS IN 2017 (IN %)

  1. MARKET BY VEHICLE TYPE
    • COMMERCIAL VEHICLES
    • PASSENGER CARS
    • TWO WHEELERS
    • OTHER VEHICLES
  2. MARKET BY POWER SOURCE
    • STORED ELECTRICITY
    • ON BOARD ELECTRICITY GENERATOR
  3. MARKET BY TECHNOLOGY
    • HYBRID ELECTRIC VEHICLE
    • BATTERY ELECTRICAL VEHICLES
    • PLUG-IN HYBRID ELECTRICAL VEHICLE
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • FRANCE
      • GERMANY
      • SPAIN
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST AND AFRICA

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