Global Electric Vehicle Market Outlook, 2025

Global Electric Vehicle Market Outlook, 2025

Bonafide Research 28-01-2021 250 Pages Figures : 31 Tables : 200
Region : Global Category : Automotive & Transport Automotive

1. Aiways Automobiles Corporative Limited

2. Arrival Limited

3. Ashok Leyland

4. Beijing Automobiles Industry Holding Corporative Limited

5. Bentley Motors Limited


The report titled 'Global Electric Vehicle Market Outlook, 2025' published by Bonafide Research identifies and discusses recent developments in electric mobility across the globe. The market that was recorded at a value of USD 27.85 Billion in the year 2014 is anticipated to grow to a market of USD 400 Billion the forecasted period. This report not only serves with the facts, figures, and forecasts but also has a detailed study about the Covid effect on the electric vehicle industry.


Electric vehicles use one or more electric motors or traction motors for propulsion. Electric vehicles are a battery electric vehicle (BEV) or a plug-in hybrid electric vehicle (PHEV). The BEV segment includes the vehicles that only use chemical energy stored in rechargeable batteries, with no secondary source of propulsion, while the PHEV segment considers whose battery can be recharged by plugging it into an external source of electric power, and by its on-board engine and generator. Globally, the BEV segment leads the market and is expected to reach over 80% in terms of volume, while the PHEV segment is to portray an anticipated CAGR of 36.03%, through the forecasted period.

The Asia Pacific market is expected to witness the fastest growth, followed by Europe and North America. The automotive industry in the countries such as China, Japan, and South Korea is inclined toward innovation, technology, and the development of the advanced electric vehicle. While Asia was contributed to a share of 61.34% by volume in 2019, Europe is expected to increase to a share of more than 25% by value by the end of the year 2025. On the other hand, the least contributing regions of Latin America and Middle East & Africa together would be contributing nothing over 3%.

The global electric vehicle is majorly classified into two segment based on price, with the mid-priced vehicle class with limited and less emphasis on expensive features ruled the market with a share of over 70% in 2019. The small urban car will cost only USD 8,680 after incentives with a range of almost 200 miles. Companies are manufacturing comparatively less expensive vehicles, however, with the increase in the disposal income and government incentives, the market is likely to get inclined towards the luxury class segment which is expected to account for an approx share of 40% by end of the forecasted period. As the acknowledgment of commercial electric vehicles is increasing, the segment is likely to reach a market of over 800 Thousand Units by the end of 2025, while the passenger vehicle continues to lead the market. The market for an electric vehicle is potential given the longevity and price of the batteries.

Gaining popularity in 2018, the electric Go-Karting is expected to be the next big thing in the industry. The governments of various countries have formulated stringent CO2 emission norms that have increased the demand for electric vehicles. Besides, the governments are providing incentives and subsidies to encourage EV sales. Even though electric vehicles are a need of the hour, the market is hurdled highly because of the lack of infrastructure and the high manufacturing cost. The gap between the existing infrastructure and the required one for the electric vehicle to overtake the conventional vehicles is huge, becoming a major fuel for the range anxiety among the drivers. The lack of standardization in the charging load is also a major drawback for the global market. The standards differentiate even among the region such as China have GB/T while Japan follows CHAdeMO. Conversely, Korea follows the CCS standards in similar to Europe, and the US. Electric vehicle manufacturers are focusing on overcoming this obstacle by having their charging network.

Key players operating in the EV market include Tesla, BMW Group, Nissan Motor Corporation, Toyota Motor Corporation, Volkswagen AG, General Motors, Daimler AG, BYD Company Motors, and Ford Motor Company account for a major electric vehicle market share. Of all, Tesla, Nissan, and Toyota together accounted for 31.45% of the share in 2019. The other smaller and local players also play an important role with the mergers amend acquisitions around the industry.

Companies Mentioned:
Tesla, BMW Group, Nissan Motor Corporation, Toyota Motor Corporation, Volkswagen AG, General Motors, Daimler AG, Energica Motor Company BYD Company Motors, and Ford Motor Company, Aiways, Citroen, Lightening GT, Micro Mobility, Zacua, Nio, MW Motors, Peugeot, PoleStar Venturi

• Geography: Global
• Base year: 2019
• Historical year: 2014
• Forecasted year: 2025

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

The report also covers the major countries in the region with a clear comparison of the past performance and the estimated growth of the market in the forecasted period. In addition, the market is studied in detail with respect to the different types of the excavators and its purposes regionally.
• Market Size By Value for the time period (2014-2025F)
• Market Size By Volume for the time period (2014-2025F)
• Market Share by Vehicle Type (Passenger & Light Commercial)
• Market Share by Propulsion Type (BEV & PHEV)
• Market Share by Sales Channel (2020 & 2026F)
• Market Share by Charging Type ( Normal & Fast)
• Market Share by Vehicle Class (Mid Priced & Luxury)
• Market Share by Region
• Market Share by Country
• Market Share by Company

Key Points Covered in this report:
• Market Evolution through value and volume CAGRs at different verticals
• Detailed discussion on the market dynamics that influence the market and the possible opportunities
• In sights on the market leader's performance including market shares, strategies, products, financial positions, etc

This report would help you answer the following questions:
1. What is the market size and forecast of the Global Electric Vehicle Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Electric Vehicle Market during the forecast period?
3. Which region outstands in the Global Electric Vehicle Market?
4. Which are the segments to invest in over the forecast period in the Global Electric Vehicle Market?
5. What is the competitive strategic window for opportunities in the Global Electric Vehicle Market?
6. What are the technology trends and regulatory frameworks in the Global Electric Vehicle Market?
7. What are the major company in the Global Electric Vehicle Market?

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