UK Electric Vehicle Market Witnessed New Record Sales in 2020
Published: Jan 2021
UK electric vehicle market is expected to grow at a CAGR of 23.0% during the forecast period. The automotive market for the country declined due to the COVID-19 pandemic and the lockdown announced due to the same. UK annual sales of vehicle sales drop to a record low to 1.63 million in 2020 with a downfall of 29.4% YoY.
Government Subsidies Will Support the South Korea Electric Vehicle Market
Published: Jan 2021
South Korea electric vehicle market is expected to grow at a CAGR of 19.0% during the forecast period. The country is one of the key locations for the EV as it homes some of the prominent EV manufacturers including Hyundai and Kia Motors. The high average price of the vehicle, fast-developing charging infrastructure, and government support for the EV purchase to the customer are some of the major factors for the EV industry growth in the country.
Government Support Driving the South Korea Electric Vehicle Charger Market
Published: Jan 2021
South Korea electric vehicle charger market is expected to grow at a CAGR of 20.0% during the forecast period. Hyundai Motor aims to develop nine types of new EVs by 2021 whereas Kia Motors will introduce seven new EV models by 2027. With the increasing sales of EVs, a significant demand for charging infrastructure for home as well as public and commercial places will arrive in the country.
Exponential Growth in EV Sales Will Boost the Germany Electric Vehicle Motor Market
Published: Jan 2021
Germany Electric Vehicle Motor market is anticipated to grow at a significant CAGR of 20.0% during the forecast period (2020-2026). The country is the largest automotive manufacturer in Europe, moreover, the country has witnessed an exponential growth in EV sales in the country in 2020. Though the vehicle industry in Germany has witnessed a downfall of around 20.0% mainly due to the COVID-19 pandemic, the EV sales have tripled in 2020.
Government Subsidies Aid France Electric Vehicle Market in 2020
Published: Jan 2021
France electric vehicle market is expected to grow at a CAGR of 18.0% during the forecast period. Due to the COVID-19 pandemic, and lockdowns announced to control the spread of the pandemic, a negative effect on the overall industry was witnessed in the country in 2020. In the whole of 2020, the French vehicle sales declined by 25.5% YoY to 1.65 million as compared to 2.21 million units sold in 2019.
Thailand Will Lead the ASEAN Electric Vehicle Market
Published: Jan 2021
ASEAN electric vehicle market is expected to grow at a CAGR of 19.0% during the forecast period. ASEAN comprises ten countries in South-East Asia and caters to around 650 million population in 2019. The electric vehicle market in the region is at a nascent stage however it seems to witness lucrative growth in the near future.
Growing Investment in EV Startups to Fuel Global Electric Commercial Vehicle Market
Published: Jan 2021
The global electric commercial vehicle market is anticipated to grow at a lucrative CAGR of 19.0% during the forecast period (2020-2026). Electric commercial vehicles are the best option to replace traditional commercial vehicles while bringing sustainability to the environment. Replacement of traditional vehicles with electric ones is a costly endeavor.
Growing Demand from the Automotive Sector Driving the US Synthetic Fibers Market
Published: Jan 2021
The US synthetic fibers market is projected to grow at a CAGR of 6.3% during the forecast period (2020-2026). The rising demand for synthetic fibers in the automotive sector owing to the increasing adoption of the lightweight vehicle provides a significant opportunity to the market.
Growing Use of Synthetic Fibers in Various Sector Driving the North American Synthetic Fibers Market
Published: Jan 2021
The North American synthetic fibers market is projected to grow at a CAGR of 6.2% during the forecast period (2020-2026). The market is driven by the rising application of synthetic fibers in the various sectors such as automotive, home furnishing, and textiles.
Textile Industry act as a Catalyst in the European Synthetic Fibers Market
Published: Jan 2021
The European synthetic fibers market is projected to grow at a CAGR of 6.7% during the forecast period (2020-2026). The significant growth in the textile industry contributes to the growth of the synthetic fiber market.