The Electric Vehicle Market was valued at USD 229.07 billion in 2021. The market is projected to grow USD 691.56 billion in 2028 at a CAGR of 17.10%. Electric Vehicles run on an electric motor that requires a constant supply of energy from batteries to operate. Electric vehicles were designed to replace traditional means of travel as they are one of the main causes of environmental pollution.
EVs are gaining traction across the globe due to low carbon emission and maintenance, the convenience of charging at home, reduced engine noise, fuel efficiency, and smoother drive. Moreover, stringent government regulation regarding vehicle emissions and the drop in prices electric vehicle batteries drive the market.
Request free sample copy of this report at : https://extrapolate.com/sample/Automotive/electric-vehicle-market/18963?utm_source=8024&utm_medium=0531&utm_campaign=blogs
The Global Electric Vehicle Market research study is a comprehensive analysis of the global Electric Vehicle sector that has grabbed the eye of a lot of Electric Vehicle makers, organisations, governments, leaders, and possible speculators and analysts. Many aspects of the business are clarified in the analysis, including the competitive scenario, status, parts, market size, share, profitability, growth potential, and advancements.
COVID-19 ANALYSIS
The COVID-19 pandemic has had an adverse effect on the global automotive sector. The automobile industry has also suffered in terms of vehicle production and sales, across the globe.
For instance, the Society of Electric Vehicle Manufacturers (SMEV), said that electric vehicle registrations fell by 20% in 2021 i.e. 236,802 units, down from 295,683 units in 2020.
Key players in global Electric Vehicle market include:
Tesla, Inc.
General Motors Company
Nissan Motors Co. Ltd.
BYD Company Ltd.
Daimler AG
Ford Motor Company
Toyota Motor Corporation
LATEST TRENDS
The development of self-driving electric vehicle technology, proactive government initiatives, and technological advancements in the electric vehicles industry is expected to create opportunities for the key players operating in the market.
The research also looks at the most influential factors in the worldwide Electric Vehicle market, such as changing business sector elements, current trends, development driving components, market restraints, and snags, all of which can have a positive or negative impact on market growth. The document analyses down the above aspects on a moment level, as well as offering significant forecasts up to 2025.
The Electric Vehicle Market 2020 study examines the financial, political, and natural aspects that drive the Electric Vehicle industry. The study looks into technology advancements in areas like generation, application, and much more. The paper also contains internal and external contextual evaluations of the various countries involved in the Electric Vehicle formation. The Electric Vehicle Market's specialised borders, numerous obstacles, and cost adequacy are all examined. Using this report, calculating the Electric Vehicle’s chances, ultimate fate, and limits become much easier.
• To provide a comprehensive analysis of the global Electric Vehicle market structure, including forecasts for the major segments and sub-segments.
• To provide data on the factors that impact market growth. The Electric Vehicle market is studied using price analysis, supply chain analysis, Porter's five force analysis, and other factors.
• To provide revenue for market segments and sub-segments in four primary continents and countries: North America, Europe, Asia, Latin America, and the Rest of the World.
• To give a market study at the country level in terms of current market size and future prospects.
• To provide a comprehensive analysis of the global Electric Vehicle market structure, including forecasts for the major segments and sub-segments.
• To provide data on the factors that impact market growth. The Electric Vehicle market is studied using price analysis, supply chain analysis, Porter's five force analysis, and other factors.
• To provide revenue for market segments and sub-segments in four primary continents and countries: North America, Europe, Asia, Latin America, and the Rest of the World.
• To give market analysis at the country level in terms of current market size and future prospects.
Browse More Details With TOC: https://extrapolate.com/Automotive/electric-vehicle-market/18963?utm_source=8024&utm_medium=0531&utm_campaign=blogs
About Us:
Extrapolate is your one-stop solution for everything related to market research and market intelligence. We understand the importance of market intelligence and its need in today’s competitive world.
Our professional team works hard to fetch the most authentic research reports backed with impeccable data figures which guarantee outstanding results every time for you.
So whether it is the latest report from the researchers or a custom requirement, our team is here to help you in the best possible way.
