Electric Car Market
Electric Car Market Size, Share & Trends Analysis Report by Vehicle Type (Hatchback, Sedan, and SUV), By Propulsion Technology (Battery Electric Car and Plug-in Hybrid Electric Car), By Battery Type (NiMH, Li-ion, Other) Forecast Period (2022-2030)
Electric car market is estimated to grow at a CAGR of 19.0% during the forecast period. As per the International Energy Agency, there were around 5.1 million electric vehicles globally with a sale of around 2 million EVs in 2018, however, modest growth is witnessed in 2019, due to some policy changes. Some of the key factors driving the growth of the global electric car market include cohesive government regulations, subsidies for the electric car by the government, development of charging infrastructure, and stringent target to curb carbon emissions. Due to this, automakers are continuously introducing new electric car models with a higher range and less charging time all across the globe as low distance coverage and high prices are the major restraining factor to the electric market.
Segmental Outlook
The market is segmented based on vehicle type, propulsion technology, and battery type. Based on vehicle type, the market is further divided into hatchbacks, sedans, and SUVs. Moreover, by propulsion technology, the market is sub-segmented into battery-electric cars and plug-in hybrid electric cars. Battery electric cars are expected to have a major market share during the forecast period. Based on battery type, the market is sub-segmented into NiMH, Li-Ion, and others. The Li-ion batteries cars segment is estimated to cover a major market share during the forecast period.
Regional Outlooks
The global electric car market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). During the forecast period, Asia Pacific is forecast to be the largest market with a lucrative growth rate. China, Japan, India, and South Korea are significantly contributing to the market. A significant growth rate is expected in Europe as the economies such as Norway, Germany, the UK, and Spain, are significantly providing subsidies for electric cars growing with lucrative growth.
Global Electric Car Market Growth, by Region 2023-2030
The European Region Leads the Growth of the Global Electric Car Market
The European region is anticipated to hold a significant share of the global electric car market. The region is witnessing a growing demand for eco-friendly vehicles, with increasing consumer awareness about environmental issues and a shift towards sustainable modes of transportation. The presence of key electric vehicle manufacturers, such as Nissan, Toyota, and BYD, is further promoting the adoption of electric cars in the region. The availability of government incentives and subsidies, such as tax credits and grants, is also driving the growth of the electric car market in the region. For instance, the UK government provides subsidies and tax exemptions for electric car buyers to promote the adoption of electric cars. The increasing investments in charging infrastructure and battery technology are also expected to contribute to the growth of the electric car market in the European region.
Market Players Outlook
Major companies contributing to the global electric car market include SAIC Motor Corp. Ltd., BAIC Group, BYD Auto Co., Ltd., Hyundai Motor Co., Kia Motors Corp., Toyota Motor Corp., Tesla Inc., Jaguar Land Rover Ltd., Nissan Motor Co., Renault Group, Volkswagen AG, Daimler AG, Mitsubishi Motors Corp., and others. The market players are considerably contributing to the market growth by adopting various growth strategies including new product launches, mergers and acquisitions, collaborations with the government, and technological advancements to stay competitive in the market.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global electric car market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Company
3.2.1.1. Overview
3.2.1.2. Financial Analysis
3.2.1.3. SWOT Analysis
3.2.1.4. Recent Developments
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Electric Car Market by Vehicle Type
5.1.1. Hatchback
5.1.2. Sedan
5.1.3. SUV
5.2. Global Electric Car Market by Propulsion Technology
5.2.1. Battery Electric Cars
5.2.2. Plug-in Hybrid Electric Cars
5.3. Global Electric Car Market by Battery Type
5.3.1. NiHM
5.3.2. Li-ion
5.3.3. Others
6. Regional Analysis
6.1. North America
6.1.1. US
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Audi AG
7.2. BAIC Group
7.3. BMW AG
7.4. BYD Auto Co., Ltd.
7.5. Chang'an Automobile Co., Ltd.
7.6. Chery Automobile Co., Ltd.
7.7. Ford Motor Co.
7.8. General Motors Co.
7.9. Great Wall Motors Co. Ltd.
7.10. Groupe PSA
7.11. Honda Motor Co., Ltd.
7.12. Hyundai Motor Co.
7.13. Jaguar Land Rover Ltd.
7.14. Kia Motors Corp.
7.15. Mitsubishi Motors Corp.
7.16. Nissan Motor Co.
7.17. AB Volvo
1. GLOBAL ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
2. GLOBAL HATCHBACK ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL SEDAN ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL SUV ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
5. GLOBAL ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY PROPULSION TECHNOLOGY, 2022-2030 ($ MILLION)
6. GLOBAL BATTERY ELECTRIC CARS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
7. GLOBAL PLUG-IN HYBRID ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
8. GLOBAL ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY BATTERY TYPE, 2022-2030 ($ MILLION)
9. GLOBAL Ni-MH ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
10. GLOBAL Li-ION ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
11. GLOBAL OTHER ELECTRIC CARS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
12. GLOBAL ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2022-2030 ($ MILLION)
13. NORTH AMERICAN ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
14. NORTH AMERICAN ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
15. NORTH AMERICAN ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY PROPULSION TECHNOLOGY, 2022-2030 ($ MILLION)
16. NORTH AMERICAN ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY BATTERY TYPE, 2022-2030 ($ MILLION)
17. EUROPEAN ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
18. EUROPEAN ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
19. EUROPEAN ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY PROPULSION TECHNOLOGY, 2022-2030 ($ MILLION)
20. EUROPEAN ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY BATTERY TYPE, 2022-2030 ($ MILLION)
21. ASIA-PACIFIC ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
22. ASIA-PACIFIC ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
23. ASIA-PACIFIC ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY PROPULSION TECHNOLOGY, 2022-2030 ($ MILLION)
24. ASIA-PACIFIC ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY BATTERY TYPE, 2022-2030 ($ MILLION)
25. REST OF THE WORLD ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
26. REST OF THE WORLD ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY PROPULSION TECHNOLOGY, 2022-2030 ($ MILLION)
27. REST OF THE WORLD ELECTRIC CAR MARKET RESEARCH AND ANALYSIS BY BATTERY TYPE, 2022-2030 ($ MILLION)
1. GLOBAL ELECTRIC CAR MARKET SHARE BY VEHICLE TYPE, 2022 VS 2030 (%)
2. GLOBAL HATCHBACK ELECTRIC CAR MARKET SHARE BY REGION, 2022 VS 2030 (%)
3. GLOBAL SEDAN ELECTRIC CAR MARKET SHARE BY REGION, 2022 VS 2030 (%)
4. GLOBAL SUV ELECTRIC CAR MARKET SHARE BY REGION, 2022 VS 2030 (%)
5. GLOBAL ELECTRIC CAR MARKET SHARE BY PROPULSION TECHNOLOGY, 2022 VS 2030 (%)
6. GLOBAL BATTERY ELECTRIC CAR MARKET SHARE BY REGION, 2022 VS 2030 (%)
7. GLOBAL PLUG-IN HYBRID ELECTRIC CAR MARKET SHARE BY REGION, 2022 VS 2030 (%)
8. GLOBAL ELECTRIC CAR MARKET SHARE BY BATTERY TYPE, 2022 VS 2030 (%)
9. GLOBAL NIMH ELECTRIC CAR MARKET SHARE BY REGION, 2022 VS 2030 (%)
10. GLOBAL LI-ION ELECTRIC CAR MARKET SHARE BY REGION, 2022 VS 2030 (%)
11. GLOBAL OTHER ELECTRIC CAR MARKET SHARE BY REGION, 2022 VS 2030 (%)
12. GLOBAL ELECTRIC CAR MARKET SHARE BY GEOGRAPHY, 2022 VS 2030 (%)
13. US ELECTRIC CAR MARKET SIZE, 2022-2030 ($ MILLION)
14. CANADA ELECTRIC CAR MARKET SIZE, 2022-2030 ($ MILLION)
15. UK ELECTRIC CAR MARKET SIZE, 2022-2030 ($ MILLION)
16. FRANCE ELECTRIC CAR MARKET SIZE, 2022-2030 ($ MILLION)
17. GERMANY ELECTRIC CAR MARKET SIZE, 2022-2030 ($ MILLION)
18. ITALY ELECTRIC CAR MARKET SIZE, 2022-2030 ($ MILLION)
19. SPAIN ELECTRIC CAR MARKET SIZE, 2022-2030 ($ MILLION)
20. ROE ELECTRIC CAR MARKET SIZE, 2022-2030 ($ MILLION)
21. INDIA ELECTRIC CAR MARKET SIZE, 2022-2030 ($ MILLION)
22. CHINA ELECTRIC CAR MARKET SIZE, 2022-2030 ($ MILLION)
23. JAPAN ELECTRIC CAR MARKET SIZE, 2022-2030 ($ MILLION)
24. REST OF ASIA-PACIFIC ELECTRIC CAR MARKET SIZE, 2022-2030 ($ MILLION)
25. REST OF THE WORLD ELECTRIC CAR MARKET SIZE, 2022-2030 ($ MILLION)
