Electric Vehicle Market

The rapidly changing market for electric vehicles (EVs), which includes hybrid, plug-in hybrid, and battery electric vehicles (HEVs, PHEVs, and BEVs), is a small but important part of the global automotive industry. Governments worldwide are keen to see increasing penetrations of EVs due to the environmental, economic, and energy security benefits they provide. Consequently, governments have both pushed automakers to develop EVs and incentivized citizens to buy them.

Furthermore, the market for vehicles that reduce fuel consumption is becoming more competitive due to other fuel efficient and alternative fuel technologies. Of note are fuel efficiency advances made to conventional internal combustion engines (ICEs) through stop-start technologies, the use of lightweight materials for body panels and chassis, engine downsizing, and growing interest in diesel. Growth in HEV, PHEV, and BEV platforms will be contingent upon expanding EV availability outside of the small hatchback segment into larger vehicle formats such as SUVs and trucks.

This Research report provides forecasts, market sizing, and market share analysis for the pure electric vehicles, hybrid vehicles and plug-in vehicles. The market of global electric vehicles is also segmented by region covering APAC regions, North American regions, European regions, and Rest of the world; and by power source.