The global electric vehicles market is projected to grow at an impressive CAGR of 15.6% in terms of revenue generated over the forecast period from 2016 to 2030, primarily driven by the growth of eco-friendly alternatives considered for transportation.
The global electric vehicles market is estimated to exhibit stellar growth by the end of 2030. The rise in the promotion of electric vehicles by different governing authorities plays a huge role in driving this growth. The growing awareness regarding the impact on the environment from the emission of conventional vehicles bolsters the growth of the market. The global efforts towards encouraging electric vehicles for mass transit plays a vital role in the growth of the landscape.
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FACTS AT A GLANCE
Companies: Honda Motor Co., Ltd., Toyota Motor Corporation, Tesla Motors, Inc., Ford Motor Company, Nissan Motor Corporation Ltd., Bayerische Motoren Werke AG
Coverage: All major geographies and key segments
Segments: Electric Vehicles Market Segmented By Hybrid Electric Vehicles, Plug-In Hybrid Electric Vehicles, Battery Electric Vehicles Technology with Stored Electricity, On Board Electric Generator Power Source in Passenger Cars, Commercial Vehicles, Two Wheelers
Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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Prominent strategy adopted by major electric vehicles manufacturers is by leveraging on the disadvantages caused by conventional vehicles thereby using it as a medium to aggressively advertise the electric vehicles as the vehicles of the future to the customers.
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The market is categorically divided into six segments based on Technology, Power Source, Vehicle Type, Powertrain and Region. The market value of electric vehicles is presented in terms of US$ Mn across all the segments. However, from the perspective of powertrain segment, it does not represent the overall market numbers i.e., market volume and market value, owing to the fact that the battery powered electric vehicles do not require the capabilities of a powertrain, which is usually limited to vehicles that have both the internal combustion engine and electric motor to run the wheels.
This holds true for all the regions as well. The report also presents important drivers as well as roadblocks affecting the market growth over the forecast period. Ever changing trends and buying patterns of the customers are also taken into account and scrutinized, which is thus integrated in the study to provide the client with relevant comprehensive information about the dynamics of the market leading to better decision making of the client.
Other important parameters such as macrocosmic factors, comparative study between the conventional vehicles & electric vehicles, regulations affecting its usage in prominent regions and forecasting factors are also added in the report to provide more value-added intelligence to the client.
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