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Electric Vehicles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global electric vehicles market reached a volume of 12.7 Million Units in 2021. Looking forward, IMARC Group expects the market to reach 106.6 Million Units by 2027, exhibiting at a CAGR of 41.8% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Electric vehicles (EVs) are self-propelling automobiles used to transport goods and passengers from one place to another. They include battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs). They run on the energy stored in batteries and are charged by self-charging devices, including turbochargers and regenerative braking systems, that can convert kinetic energy into electrical energy. Besides this, EVs do not emit tailpipe emissions, reduce the dependency on oil, and are more economical to operate than traditionally used automobiles. As a result, they are gaining immense traction across the globe. 

 

 
 

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Electric Vehicles Market Trends:

Rapid urbanization, the thriving automotive industry, and the shifting consumer preferences for hybrid and electric vehicles (H/EVs) represent one of the key factors positively influencing the market. In addition, the increasing consumer consciousness about maintaining ecological sustainability and the growing concerns among individuals about the detrimental environmental effects due to emissions of greenhouse gases (GHGs) is catalyzing the demand for EVs. Along with this, the implementation of favorable government initiatives encouraging sustainable development is strengthening the market growth. For instance, numerous benefits, such as tax exemptions, subsidies, low buying costs, and free charging facilities, are some of the government privileges increasing their overall adoption rates. In line with this, the improving electronic charging infrastructure and the integration of magnetic resonance for wireless vehicle charging are bolstering the market growth. Besides this, the rising integration of EVs with advanced technologies, which include GPS navigation, remote sensors, and anti-theft locking systems, is offering a favorable market outlook. Furthermore, increasing investments by leading market players in extensive research and development (R&D) activities are anticipated to propel market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global electric vehicles market, along with forecasts at the global, regional, and country levels from 2022-2027. Our report has categorized the market based on component, charging type, propulsion type, and vehicle type.

Breakup by Component:

 

 
 

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

Based on the component, the market has been segmented into battery cells and packs, onboard chargers, and fuel stacks.

Breakup by Charging Type:

  • Slow Charging
  • Fast Charging

Slow charging is the most preferred source of charging the EV battery as it provides the maximum battery life and is safer than fast charging batteries.

Breakup by Propulsion Type:

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

Hybrid electric vehicles (HEVs) represent the largest market segment as they help reduce harmful emissions and improve fuel efficiency.

Breakup by Vehicle Type:

Passenger vehicles account for the majority of the total market share due to the increasing global population and shifting consumer preferences toward self-owned vehicles.

Breakup by Region:

 

 
 

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  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Norway
    • Netherlands
    • Sweden
    • United Kingdom
    • France
    • Germany
    • Others
  • North America
    • United States
    • Canada
  • Middle East and Africa
    • Turkey
    • Saudi Arabia
    • Iran
    • United Arab Emirates
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Others
       

The Asia Pacific enjoys the leading position in the market on account of the growing population and favorable initiatives undertaken by governments of various countries in the region.

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the top electric vehicles companies being 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 and Volkswagen, etc.

IMARC Group’s latest report provides a deep insight into the global electric vehicles market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the electric vehicles industry in any manner.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units Million Units
Segment Coverage Component, Charging Type, Propulsion Type, Vehicle Type, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered China, Japan, India, South Korea, Australia, Indonesia, Norway, Netherlands, Sweden, United Kingdom, France, Germany, United States, Canada, Turkey, Saudi Arabia, Iran, United Arab Emirates, Brazil, Mexico, Argentina, Colombia
Companies Covered 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 and Volkswagen
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


1   Preface
2   Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Electric Vehicles Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Component
    6.1    Battery Cells & Packs
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    On-Board Charger
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Fuel Stack
        6.3.1 Market Trends
        6.3.2 Market Forecast
7   Market Breakup by Charging Type
    7.1    Slow Charging
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Fast Charging
        7.2.1 Market Trends
        7.2.2 Market Forecast
8   Market Breakup by Propulsion Type
    8.1    Battery Electric Vehicle (BEV)
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Fuel Cell Electric Vehicle (FCEV)
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Plug-In Hybrid Electric Vehicle (PHEV)
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Hybrid Electric Vehicle (HEV)
        8.4.1 Market Trends
        8.4.2 Market Forecast
9   Market Breakup by Vehicle Type
    9.1    Passenger Vehicles
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Commercial Vehicles
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Others
        9.3.1 Market Trends
        9.3.2 Market Forecast
10  Market Breakup by Region
    10.1    Asia Pacific
        10.1.1 China
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Japan
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
        10.1.3 India
           10.1.3.1 Market Trends
           10.1.3.2 Market Forecast
        10.1.4 South Korea
           10.1.4.1 Market Trends
           10.1.4.2 Market Forecast
        10.1.5 Australia
           10.1.5.1 Market Trends
           10.1.5.2 Market Forecast
        10.1.6 Indonesia
           10.1.6.1 Market Trends
           10.1.6.2 Market Forecast
        10.1.7 Others
           10.1.7.1 Market Trends
           10.1.7.2 Market Forecast
    10.2    Europe
        10.2.1 Norway
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Netherlands
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 Sweden
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 United Kingdom
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 France
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Germany
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    North America
        10.3.1 United States
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 Canada
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
     10.4    Middle East and Africa
        10.4.1 Turkey
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Saudi Arabia
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Iran
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
        10.4.4 United Arab Emirates
           10.4.4.1 Market Trends
           10.4.4.2 Market Forecast
        10.4.5 Others
           10.4.5.1 Market Trends
           10.4.5.2 Market Forecast
    10.5    Latin America
        10.5.1 Brazil
           10.5.1.1 Market Trends
           10.5.1.2 Market Forecast
        10.5.2 Mexico
           10.5.2.1 Market Trends
           10.5.2.2 Market Forecast
        10.5.3 Argentina
           10.5.3.1 Market Trends
           10.5.3.2 Market Forecast
        10.5.4 Colombia
           10.5.4.1 Market Trends
           10.5.4.2 Market Forecast
        10.5.5 Others
           10.5.5.1 Market Trends
           10.5.5.2 Market Forecast
11  SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12  Value Chain Analysis
    12.1    Overview
    12.2    Raw Materials/Components Suppliers
    12.3    Manufacturers
    12.4    Distributors
    12.5    Exporters
    12.6    End-Users
13  Porters Five Forces Analysis
    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14  Price Analysis
15  Competitive Landscape

    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Bayerische Motoren Werke AG
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio 
           15.3.1.3 Financials
           15.3.1.4 SWOT Analysis
        15.3.2    BYD Auto
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio 
        15.3.3    Chery
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio 
        15.3.4    Daimler AG
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio 
           15.3.4.3 Financials
           15.3.4.4 SWOT Analysis
        15.3.5    Ford Motor Company
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio 
           15.3.5.3 Financials
           15.3.5.4 SWOT Analysis
        15.3.6    Geely
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio 
           15.3.6.3 Financials
        15.3.7    General Motors
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio 
           15.3.7.3 Financials
           15.3.7.4 SWOT Analysis
        15.3.8    Honda Motor Company
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio 
        15.3.9    Hyundai Motor Company
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio 
           15.3.9.3 Financials
           15.3.9.4 SWOT Analysis
        15.3.10    Nissan
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio 
           15.3.10.3 Financials
           15.3.10.4 SWOT Analysis
        15.3.11    Renault
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio 
           15.3.11.3 Financials
           15.3.11.4 SWOT Analysis
        15.3.12    SAIC Motor
           15.3.12.1 Company Overview
           15.3.12.2 Product Portfolio 
        15.3.13    Tesla Inc. 
           15.3.13.1 Company Overview
           15.3.13.2 Product Portfolio 
           15.3.13.3 Financials
           15.3.13.4 SWOT Analysis
        15.3.14    Toyota Motor Corporation
           15.3.14.1 Company Overview
           15.3.14.2 Product Portfolio 
           15.3.14.3 Financials
           15.3.14.4 SWOT Analysis
        15.3.15    Volkswagen            
           15.3.15.1 Company Overview
           15.3.15.2 Product Portfolio 
           15.3.15.3 Financials
           15.3.15.4 SWOT Analysis

List of Figures

Figure 1: Global: Electric Vehicles Market: Major Drivers and Challenges
Figure 2: Global: Electric Vehicles Market: Sales Volume (in Million Units), 2016-2021
Figure 3: Global: Electric Vehicles Market: Breakup by Component (in %), 2021
Figure 4: Global: Electric Vehicles Market: Breakup by Charging Type (in %), 2021
Figure 5: Global: Electric Vehicles Market: Breakup by Propulsion Type (in %), 2021
Figure 6: Global: Electric Vehicles Market: Breakup by Vehicle Type (in %), 2021
Figure 7: Global: Electric Vehicles Market: Breakup by Region (in %), 2021
Figure 8: Global: Electric Vehicles Market Forecast: Sales Volume (in Million Units), 2022-2027
Figure 9: Global: Electric Vehicles (Battery Cells & Packs) Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 10: Global: Electric Vehicles (Battery Cells & Packs) Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 11: Global: Electric Vehicles (On-Board Charger) Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 12: Global: Electric Vehicles (On-Board Charger) Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 13: Global: Electric Vehicles (Fuel Stack) Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 14: Global: Electric Vehicles (Fuel Stack) Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 15: Global: Electric Vehicles (Slow Charging) Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 16: Global: Electric Vehicles (Slow Charging) Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 17: Global: Electric Vehicles (Fast Charging) Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 18: Global: Electric Vehicles (Fast Charging) Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 19: Global: Electric Vehicles (Battery Electric Vehicle) Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 20: Global: Electric Vehicles (Battery Electric Vehicle) Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 21: Global: Electric Vehicles (Fuel Cell Electric Vehicle) Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 22: Global: Electric Vehicles (Fuel Cell Electric Vehicle) Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 23: Global: Electric Vehicles (Plug-In Hybrid Electric Vehicle) Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 24: Global: Electric Vehicles (Plug-In Hybrid Electric Vehicle) Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 25: Global: Electric Vehicles (Hybrid Electric Vehicle) Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 26: Global: Electric Vehicles (Hybrid Electric Vehicle) Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 27: Global: Electric Vehicles (Passenger Vehicles) Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 28: Global: Electric Vehicles (Passenger Vehicles) Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 29: Global: Electric Vehicles (Commercial Vehicles) Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 30: Global: Electric Vehicles (Commercial Vehicles) Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 31: Global: Electric Vehicles (Other Vehicle Types) Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 32: Global: Electric Vehicles (Other Vehicle Types) Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 33: Asia Pacific: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 34: Asia Pacific: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 35: China: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 36: China: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 37: Japan: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 38: Japan: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 39: India: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 40: India: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 41: South Korea: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 42: South Korea: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 43: Australia: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 44: Australia: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 45: Indonesia: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 46: Indonesia: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 47: Others: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 48: Others: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 49: Europe: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 50: Europe: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 51: Norway: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 52: Norway: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 53: Netherlands: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 54: Netherlands: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 55: Sweden: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 56: Sweden: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 57: United Kingdom: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 58: United Kingdom: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 59: France: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 60: France: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 61: Germany: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 62: Germany: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 63: Others: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 64: Others: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 65: North America: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 66: North America: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 67: United States: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 68: United States: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 69: Canada: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 70: Canada: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 71: Middle East and Africa: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 72: Middle East and Africa: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 73: Turkey: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 74: Turkey: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 75: Saudi Arabia: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 76: Saudi Arabia: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 77: Iran: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 78: Iran: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 79: United Arab Emirates: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 80: United Arab Emirates: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 81: Others: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 82: Others: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 83: Latin America: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 84: Latin America: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 85: Brazil: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 86: Brazil: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 87: Mexico: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 88: Mexico: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 89: Argentina: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 90: Argentina: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 91: Colombia: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 92: Colombia: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 93: Others: Electric Vehicles Market: Sales Volume (in ‘000 Units), 2016 & 2021
Figure 94: Others: Electric Vehicles Market Forecast: Sales Volume (in ‘000 Units), 2022-2027
Figure 95: Global: Electric Vehicles Industry: SWOT Analysis
Figure 96: Global: Electric Vehicles Industry: Value Chain Analysis
Figure 97: Global: Electric Vehicles Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Electric Vehicles Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Electric Vehicles Market Forecast: Breakup by Component (in ‘000 Units), 2022-2027
Table 3: Global: Electric Vehicles Market Forecast: Breakup by Charging Type (in ‘000 Units), 2022-2027
Table 4: Global: Electric Vehicles Market Forecast: Breakup by Propulsion Type (in ‘000 Units), 2022-2027
Table 5: Global: Electric Vehicles Market Forecast: Breakup by Vehicle Type (in ‘000 Units), 2022-2027
Table 6: Global: Electric Vehicles Market Forecast: Breakup by Region (in ‘000 Units), 2022-2027
Table 7: Global: Electric Vehicles Market: Competitive Structure
Table 8: Global: Electric Vehicles Market: Key Players  


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Key Questions Answered in This Report

The global electric vehicles market reached a volume of 12.7 Million Units in 2021.  
 

We expect the global electric vehicles market to exhibit a CAGR of 41.8% during 2022-2027.
 

The increasing demand for fuel-efficient automobiles, along with the growing concerns towards detrimental effects of greenhouse gas (GHG) emissions on the environment, represent some of the factors catalyzing the global electric vehicles market. 
 

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous manufacturing units and delay in R&D activities for electric vehicles. 
 

Based on the component, the global electric vehicles market has been divided into battery cells & packs, on-board charger, and fuel stack. Among these, battery cells & packs currently exhibit a clear dominance in the market.
 

Based on the charging type, the global electric vehicles market can be segregated into slow charging and fast charging. Currently, slow charging holds the largest market share.
 

Based on the propulsion type, the global electric vehicles market has been bifurcated into Battery Electric Vehicle (BEV), Fuel Cell Electric Vehicle (FCEV), Plug-in Hybrid Electric Vehicle (PHEV), and Hybrid Electric Vehicle (HEV), where Hybrid Electric Vehicle (HEV) currently accounts for the majority of the total market share. 

Based on the vehicle type, the global electric vehicles market can be categorized into passenger vehicles, commercial vehicles, and others. Among these, passenger vehicles currently account for the majority of the total market share.
 

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
 

Some of the major players in the global electric vehicles market 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, etc.
 

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