Market By Vehicle Type, Power Source, Technology, And Geography | Forecasts 2019-2027
Triton has stated after a detailed analysis, that the global electric vehicle market is showcasing an evolving trend in terms of revenue and is projected to grow at a CAGR of 20.95% throughout the forecast period of 2019-2027. The market was assessed to be worth $136.22 billion in the year 2018 and is predicted to generate a revenue of approximately $747.17 billion by the year 2027.
The electric vehicles are mostly employed as electric spacecraft, surface & underwater vessels, electric aircraft, and road and rail vehicles. They depend on multiple electric motors, also known as traction motors, for the forward motion. They are motorized through the collector system with the help of electric current from charging stations or portable batteries, the electric generator for converting any affordable form of energy into the electricity or they depend solely on the solar panels.
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The 1850s saw the first EV to come into existence where the electricity had been the favored approaches for propelling the motor vehicle, and the much-needed ease of operation that was unattainable through gasoline in that era. The contemporary combustion engines have been primarily employed for the propulsion of the motor vehicles since the 1900s, but electric power is mostly utilized by numerous vehicle types like the trains and the minor vehicles.
The availability of EV charging infrastructure poses a mighty challenge that is yet to be tackled, and there is a major obligation for more numbers of charging stations. Currently, more than 91,000 public charging stations across the world are expected to rise to 130,000+. Unfortunately, the charging stations generally are abundant in the areas with higher sales of EV, which is expected to change soon.
Transport is currently responsible for approximately 20% of greenhouse gas emissions, making it the second largest polluter after the energy industry. Increase in the use of electric vehicles would help in decreasing the emission levels and thus would help in controlling the air quality degradation.
Within the report from Triton on the electric vehicle market, market definition and the key insights regarding the industry are discussed. Also, the evolution and transition of the electric vehicle, industrial components, regulatory framework, market opportunity insights, the market attractiveness matrix, vendor scorecard, Porter's five force analysis, key impact analysis, industrial player positioning and key market strategies are studied in detail.
Market drivers such as proactive government policies to promote the use of electric vehicles, the cost-effectiveness of electric vehicles over their gas and oil counterparts, transport contributing to greenhouse gas (GHG) emissions, air pollution & energy consumption and increasing per capita income are detailed in the report. The industry is facing market restraints such as lack of electric vehicles charging stations and the high cost of electric vehicles are the reasons obstructing the industry growth across the globe.
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Key opportunities like the rising production capacities of the lithium-ion battery, government initiatives to limit greenhouse gases and increased research & development expenditure towards the development of electric vehicles are leveraging the industry to grow during the forecasting years. Some of the major challenges such as lack of public awareness and performance issues are faced by the electric vehicle market.
Top geographies covered in the global electric vehicle market
• North America: United States and Canada
• Europe: United Kingdom, Germany, Norway, France, Netherland, Russia and Rest of Europe
• Asia-Pacific: China, Japan, India, South Korea, ASEAN countries, Australia & New Zealand and Rest of Asia Pacific
• Latin America: Mexico, Brazil and Rest of Latin America
• The Middle East and Africa: United Arab Emirates, Turkey, Saudi Arabia, South Africa and Rest of Middle East and Africa
The electric vehicle market is segmented into:
• By vehicle type:
o Commercial vehicles
o Passenger cars
o Two wheelers
o Other vehicles
• By power source:
o Stored electricity
o Onboard electricity generator
• By technology:
o Hybrid electric vehicle
o Battery electric vehicle
o Plug-in hybrid electric vehicle
The leading companies in the electric vehicle market are Hyundai Motor, Honda Motor Company, Nissan Motor Co., Ltd., Volkswagen AG, Bayerische Motoren Werke AG, Toyota Industries Corporation, Zhejiang Geely Holding Group, Mitsubishi, Ford Motor Company, Tesla Motors, Inc., Fiat Chrysler Automobiles N.V, Daimler AG, BYD Company Ltd., Groupe PSA, and General Motors Company.
The strategic analysis for each of these companies in the electric vehicle market is covered in detail. The company market share helps to dive into the information about the key market players in this industry and their hold on the market.
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VIEW REPORT1. ELECTRIC
VEHICLE MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. MARKET
DEFINITION
2.2. KEY
INSIGHTS
2.3. INTRODUCTION:
ELECTRIC VEHICLES
2.4. EVOLUTION
& TRANSITION OF ELECTRIC VEHICLE
2.5. PORTER'S
FIVE FORCE ANALYSIS
2.6. MARKET
ATTRACTIVENESS MATRIX
2.7. INDUSTRY
COMPONENTS
2.8. REGULATORY
FRAMEWORK
2.9. VENDOR
SCORECARD
2.10.
KEY IMPACT ANALYSIS
2.11.
MARKET OPPORTUNITY INSIGHTS
2.12.
INDUSTRY PLAYER POSITIONING
2.13.
KEY MARKET STRATEGIES
2.14.
MARKET DRIVERS
2.14.1.
PROACTIVE GOVERNMENT POLICIES
TO PROMOTE THE USE OF ELECTRIC VEHICLES
2.14.2.
COST-EFFECTIVENESS OF ELECTRIC
VEHICLES OVER THEIR GAS POWERED COUNTERPARTS
2.14.3.
TRANSPORT CONTRIBUTING TO
GREENHOUSE GAS (GHG) EMISSIONS, AIR POLLUTION & ENERGY CONSUMPTION
2.14.4.
INCREASING PER CAPITA INCOME
2.15.
MARKET RESTRAINTS
2.15.1.
LACK OF ELECTRIC VEHICLES
CHARGING STATIONS
2.15.2.
HIGH COST OF ELECTRIC VEHICLES
2.16.
MARKET OPPORTUNITIES
2.16.1.
RISE IN LITHIUM-ION BATTERY
PRODUCTION CAPACITIES
2.16.2.
GOVERNMENT INITIATIVES TO
LIMIT GREENHOUSE GASES
2.16.3.
INCREASED RESEARCH &
DEVELOPMENT EXPENDITURE TOWARDS DEVELOPMENT OF EV’S
2.17.
MARKET CHALLENGES
2.17.1.
LACK OF PUBLIC AWARENESS
2.17.2.
PERFORMANCE ISSUES
3. ELECTRIC
VEHICLE INDUSTRY OUTLOOK – BY VEHICLE TYPE
3.1. COMMERCIAL
VEHICLES
3.2. PASSENGER
CARS
3.3. TWO
WHEELERS
3.4. OTHER
VEHICLES
4. ELECTRIC
VEHICLE INDUSTRY OUTLOOK -BY POWER SOURCE
4.1. STORED
ELECTRICITY
4.2. ON
BOARD ELECTRICITY GENERATOR
5. ELECTRIC
VEHICLE INDUSTRY OUTLOOK -BY TECHNOLOGY
5.1. HYBRID
ELECTRIC VEHICLE
5.2. BATTERY
ELECTRICAL VEHICLES
5.3. PLUG-IN
HYBRID ELECTRICAL VEHICLE
6. ELECTRIC
VEHICLE INDUSTRY - REGIONAL OUTLOOK
6.1. NORTH
AMERICA
6.1.1. MARKET
BY VEHICLE TYPE
6.1.2. MARKET
BY POWER SOURCE
6.1.3. MARKET
BY TECHNOLOGY
6.1.4. COUNTRY
ANALYSIS
6.1.4.1. UNITED
STATES
6.1.4.2. CANADA
6.2. EUROPE
6.2.1. MARKET
BY VEHICLE TYPE
6.2.2. MARKET
BY POWER SOURCE
6.2.3. MARKET
BY TECHNOLOGY
6.2.4. COUNTRY
ANALYSIS
6.2.4.1. UNITED
KINGDOM
6.2.4.2. GERMANY
6.2.4.3. FRANCE
6.2.4.4. NETHERLAND
6.2.4.5. NORWAY
6.2.4.6. RUSSIA
6.2.4.7. REST
OF EUROPE NETHERLANDSNORWAY
6.3. ASIA
PACIFIC
6.3.1. MARKET
BY VEHICLE TYPE
6.3.2. MARKET
BY POWER SOURCE
6.3.3. MARKET
BY TECHNOLOGY
6.3.4. COUNTRY
ANALYSIS
6.3.4.1. CHINA
6.3.4.2. JAPAN
6.3.4.3. INDIA
6.3.4.4. SOUTH
KOREA
6.3.4.5. ASEAN
COUNTRIES
6.3.4.6. AUSTRALIA
AND NEW ZEALAND
6.3.4.7. REST
OF ASIA PACIFIC
6.4. LATIN
AMERICA
6.4.1. MARKET
BY VEHICLE TYPE
6.4.2. MARKET
BY POWER SOURCE
6.4.3. MARKET
BY TECHNOLOGY
6.4.4. COUNTRY
ANALYSIS
6.4.4.1. BRAZIL
6.4.4.2. MEXICO
6.4.4.3. REST
OF LATIN AMERICA
6.5. MIDDLE
EAST AND AFRICA
6.5.1. MARKET
BY VEHICLE TYPE
6.5.2. MARKET
BY POWER SOURCE
6.5.3. MARKET
BY TECHNOLOGY
6.5.4. COUNTRY
ANALYSIS
6.5.4.1. UNITED
ARAB EMIRATES
6.5.4.2. TURKEY
6.5.4.3. SAUDI
ARABIA
6.5.4.4. SOUTH
AFRICA
6.5.4.5. REST
OF MIDDLE EAST & AFRICA
7. COMPETITIVE
LANDSCAPE
7.1. BAYERISCHE
MOTOREN WERKE AG
7.2. BYD
COMPANY LTD
7.3. DAIMLER
AG
7.4. FIAT
CHRYSLER AUTOMOBILES N.V
7.5. FORD
MOTOR COMPANY
7.6. GENERAL
MOTORS COMPANY
7.7. GROUPE
PSA
7.8. HONDA
MOTOR COMPANY
7.9. HYUNDAI
MOTOR
7.10.
MITSUBISHI
7.11.
NISSAN MOTOR CO., LTD.
7.12.
TESLA MOTORS, INC
7.13.
TOYOTA INDUSTRIES CORPORATION
7.14.
VOLKSWAGEN AG
7.15.
ZHEJIANG GEELY HOLDING GROUP
8. METHODOLOGY
& SCOPE
8.1. RESEARCH
SCOPE
8.2. SOURCES
OF DATA
8.3. RESEARCH
METHODOLOGY
TABLE 1. MARKET ATTRACTIVENESS
MATRIX FOR ELECTRIC VEHICLE MARKET
TABLE 2. VENDOR
SCORECARD OF ELECTRIC VEHICLE MARKET
TABLE 3. REGULATORY
FRAMEWORK OF ELECTRIC VEHICLE MARKET
TABLE 4. KEY STRATEGIC
DEVELOPMENTS IN ELECTRIC VEHICLE MARKET
TABLE 5. BENEFITS &
LIMITATIONS OF ELECTRIC VEHICLES
TABLE 6. WORLDWIDE
LITHIUM-ION BATTERY PRODUCTION CAPACITY (GWH)
TABLE 7. COST
COMPARISON OF EV’S TO THEIR GAS-POWERED COUNTERPART
TABLE 8. PROJECTED
ELECTRICITY-POWERED TWO-WHEELER SALES IN THE UNITED STATES IN 2015 AND 2024, BY
TYPE (IN UNITS)
TABLE 9. GLOBAL
ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2019-2027 (IN $ MILLION)
TABLE 10. GLOBAL
ELECTRIC VEHICLE MARKET, BY POWER SOURCE, 2019-2027 (IN $ MILLION)
TABLE 11. GLOBAL
ELECTRIC VEHICLE MARKET, BY TECHNOLOGY, 2019-2027 (IN $ MILLION)
TABLE 12. GLOBAL
ELECTRIC VEHICLE MARKET, REGIONAL OUTLOOK, 2019-2027 (IN $ MILLION)
TABLE 13. NORTH AMERICA
ELECTRIC VEHICLE MARKET, COUNTRY OUTLOOK, 2019-2027 (IN $ MILLION)
TABLE 14. NORTH AMERICA
ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2019-2027 (IN $ MILLION)
TABLE 15. NORTH AMERICA
ELECTRIC VEHICLE MARKET, BY POWER SOURCE, 2019-2027 (IN $ MILLION)
TABLE 16. NORTH AMERICA
ELECTRIC VEHICLE MARKET, BY TECHNOLOGY, 2019-2027 (IN $ MILLION)
TABLE 17. EUROPE
ELECTRIC VEHICLE MARKET, COUNTRY OUTLOOK, 2019-2027 (IN $ MILLION)
TABLE 18. EUROPE
ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2019-2027 (IN $ MILLION)
TABLE 19. EUROPE
ELECTRIC VEHICLE MARKET, BY POWER SOURCE, 2019-2027 (IN $ MILLION)
TABLE 20. EUROPE
ELECTRIC VEHICLE MARKET, BY TECHNOLOGY, 2019-2027 (IN $ MILLION)
TABLE 21. ASIA PACIFIC
ELECTRIC VEHICLE MARKET, COUNTRY OUTLOOK, 2019-2027 (IN $ MILLION)
TABLE 22. ASIA PACIFIC
ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2019-2027 (IN $ MILLION)
TABLE 23. ASIA PACIFIC
ELECTRIC VEHICLE MARKET, BY POWER SOURCE, 2019-2027 (IN $ MILLION)
TABLE 24. ASIA PACIFIC
ELECTRIC VEHICLE MARKET, BY TECHNOLOGY, 2019-2027 (IN $ MILLION)
TABLE 25. LATIN AMERICA
ELECTRIC VEHICLE MARKET, COUNTRY OUTLOOK, 2019-2027 (IN $ MILLION)
TABLE 26. LATIN AMERICA
ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2019-2027 (IN $ MILLION)
TABLE 27. LATIN AMERICA
ELECTRIC VEHICLE MARKET, BY POWER SOURCE, 2019-2027 (IN $ MILLION)
TABLE 28. LATIN AMERICA
ELECTRIC VEHICLE MARKET, BY TECHNOLOGY, 2019-2027 (IN $ MILLION)
TABLE 29. MIDDLE EAST
& AFRICA ELECTRIC VEHICLE MARKET, COUNTRY OUTLOOK, 2019-2027 (IN $ MILLION)
TABLE 30. MIDDLE EAST
& AFRICA ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2019-2027 (IN $ MILLION)
TABLE 31. MIDDLE EAST
& AFRICA ELECTRIC VEHICLE MARKET, BY POWER SOURCE, 2019-2027 (IN $ MILLION)
TABLE 32. MIDDLE EAST
& AFRICA ELECTRIC VEHICLE MARKET, BY TECHNOLOGY, 2019-2027 (IN $ MILLION)
FIGURE 1. GLOBAL
ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 2. PORTER’S FIVE
FORCE ANALYSIS OF ELECTRIC VEHICLE MARKET
FIGURE 3. KEY IMPACT
ANALYSIS
FIGURE 4. TIMELINE OF
ELECTRIC VEHICLE
FIGURE 5. MARKET
OPPORTUNITY INSIGHTS, BY REGION, 2018
FIGURE 6. MARKET
OPPORTUNITY INSIGHTS, BY VEHICLE TYPE, 2018
FIGURE 7. INDUSTRY
COMPONENTS OF ELECTRIC VEHICLE MARKET
FIGURE 8. KEY PLAYER
POSITIONING IN 2018 (%)
FIGURE 9. GLOBAL
ELECTRIC VEHICLE MARKET, BY COMMERCIAL VEHICLES, 2019-2027 (IN $ MILLION)
FIGURE 10. GLOBAL
ELECTRIC VEHICLE MARKET, BY PASSENGER CARS, 2019-2027 (IN $ MILLION)
FIGURE 11. GLOBAL ELECTRIC
VEHICLE MARKET, BY TWO WHEELERS, 2019-2027 (IN $ MILLION)
FIGURE 12. GLOBAL
ELECTRIC VEHICLE MARKET, BY OTHER VEHICLES, 2019-2027 (IN $ MILLION)
FIGURE 13. GLOBAL
ELECTRIC VEHICLE MARKET, BY POWER SOURCE, 2018 & 2027 (IN %)
FIGURE 14. GLOBAL ELECTRIC
VEHICLE MARKET, BY STORED ELECTRICITY, 2019-2027 (IN $ MILLION)
FIGURE 15. GLOBAL
ELECTRIC VEHICLE MARKET, BY ON BOARD ELECTRICITY GENERATOR, 2019-2027 (IN $
MILLION)
FIGURE 16. GLOBAL
ELECTRIC VEHICLE MARKET, BY TECHNOLOGY, 2018 & 2027 (IN %)
FIGURE 17. GLOBAL
ELECTRIC VEHICLE MARKET, BY HYBRID ELECTRIC VEHICLE, 2019-2027 (IN $ MILLION)
FIGURE 18. GLOBAL
ELECTRIC VEHICLE MARKET, BY BATTERY ELECTRICAL VEHICLES, 2019-2027 (IN $
MILLION)
FIGURE 19. GLOBAL
ELECTRIC VEHICLE MARKET, BY PLUG-IN HYBRID ELECTRICAL VEHICLE, 2019-2027 (IN $
MILLION)
FIGURE 20. GLOBAL
ELECTRIC VEHICLE MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)
FIGURE 21. UNITED
STATES ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 22. CANADA
ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 23. UNITED
KINGDOM ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 24. GERMANY
ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 25. FRANCE
ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 26. NETHERLANDS
ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 27. NORWAY
ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 28. RUSSIA
ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 29. REST OF
EUROPE ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 30. CHINA
ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 31. JAPAN
ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 32. INDIA
ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 33. SOUTH KOREA
ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 34. ASEAN
COUNTRIES ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 35. AUSTRALIA
& NEW ZEALAND ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 36. REST OF
ASIA-PACIFIC ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 37. BRAZIL
ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 38. MEXICO
ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 39. REST OF
LATIN AMERICA ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 40. UNITED ARAB
EMIRATES ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 41. SAUDI ARABIA
ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 42. TURKEY
ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 43. SOUTH AFRICA
ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)
FIGURE 44. REST OF
MIDDLE EAST & AFRICA ELECTRIC VEHICLE MARKET, 2019-2027 (IN $ MILLION)