Global Electric Vehicle Market Outlook, 2027

Bonafide Research 30-08-2022 233 Pages Figures : 29 Tables : 203
Region : Global Category : Automotive & Transport Automotive

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Report Description
Table of Contents
List of Figure Tables
Companies Mentioned

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Plugging into a future away from fossil fuels, the electric vehicle market is to depict a CAGR of over 22%. - Bonafide Research

Featured Companies

1. Aiways Automobiles Corporative Limited

2. Arrival Limited

3. Ashok Leyland

4. Beijing Automobiles Industry Holding Corporative Limited

5. Bentley Motors Limited

More...

Factors such as growing demand for low emission commuting and governments supporting long range, zero emission vehicles through subsidies & tax rebates have compelled the manufacturers to provide electric vehicles around the world. This has led to a growing demand for electric vehicles in the market. Countries around the world have set up targets for emission reductions according to their own capacity. Also, increasing investments by governments across the globe to develop EV charging stations and Hydrogen fueling stations along with incentives offered to buyers will create opportunities for OEMs to expand their revenue stream and geographical presence.

The report titled 'Global Electric Vehicle Market Outlook, 2027' 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 268Billion in the year 2021 is anticipated to grow to cross USD 800 Billion in the forecasted period. This report not only serves with the facts, figures, and forecasts but also has a detailed study about the Covid-19 effect on the electric vehicle industry. Further, the market is anticipated to grow with more than 20% CAGR from 2022-2027.

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 76% in terms of volume, while the PHEV segment is to portray an anticipated CAGR of 18.19%, 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. The EV market in Asia Pacific is projected to experience steady growth owing to the high demand for lower cost efficient and low-emission vehicles, while the North American and European market are fast growing markets due to the government initiatives and growing high-performance Passenger vehicle segment. However, relatively less number of EV charging stations and hydrogen fuel stations, higher costs involved in initial investments, and performance constraints could hamper the growth of global electric vehicle market. On the other hand, the least contributing regions of South 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 2021. 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 2027, 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.

The cost of EV batteries has been decreasing during the past decade due to technological advancements and the production of EV batteries on a mass scale in large volumes. This has led to a decrease in the cost of electric vehicles as EV batteries are one of the most expensive components of the vehicle. In 2010, the price of an EV battery was approximately USD 1,100 per kWh. However, by 2020, the price fell to approximately USD 137 per kWh, and it reached as low as USD 120 per kWh in 2021. The price of these batteries is as low as USD 100 per kWh in China. This is because of the reducing manufacturing costs of these batteries, reduced cathode material prices, higher production, etc. The prices of EV batteries are expected to fall to approximately USD 60 per kWh by 2030, which is expected to significantly reduce the prices of EVs, making them cheaper than conventional ICE vehicles.

Factors such as increase in demand for fuel-efficient, high-performance, & low-emission vehicles, stringent government rules & regulations toward vehicle emission along with reduction in cost of electric vehicle batteries and increasing fuel costs supplement growth of the electric vehicle market. Moreover, factors such as lack of charging infrastructure, high manufacturing cost, and range anxiety and serviceability are the factors expected to hamper growth of the EV market. Furthermore, factors such as technological advancements, proactive government initiatives and development of self-driving electric vehicle technology are expected to create ample opportunities for the key players operating in the electric vehicle market.

Gasoline being a fossil fuel is not a renewable source of energy, and is anticipated to get exhausted in the future. To support sustainable development, it is important to develop and use alternative sources of fuel. This involves use of electric vehicles, which do not use gas and are more economical than conventional vehicles. An electric vehicle converts over 50% of the electrical energy from the grid to power at the wheels, whereas the gas-powered vehicle only manages to convert about 17%–21% of the energy stored in gasoline. The demand for fuel-efficient vehicles has increased recently, owing to rise in price of petrol and diesel. This is attributed to depleting fossil fuel reserves and growth in tendency of companies to gain maximum profit from these oil reserves. Thus, these factors give rise to the need for advanced fuel-efficient technologies, leading to surge in demand for electrically powered vehicles for travel.

For instance, the U.S. Environmental Protection Agency (EPA) announced that they are working on new rules to decrease emissions of nitrogen oxide (NOx) and other pollutants from heavy-duty trucks. In addition, the California Air Resources Board (CARB) is adopting heavy-duty Low NOx Omnibus Regulation, aims to achieve a 90% reduction from current NOx emissions limits by 2027. Moreover, in Europe, European Union (EU) committed within the Paris agreement (COP21) to achieve its 20% greenhouse gas reduction target in 2020 for the second phase of the Kyoto Protocol. The EU has also set the target to achieve 40% greenhouse gas reduction by 2040 and net-zero by 2050.

In addition to that, significant number of initiatives taken by the government of various countries such as tax rebate, subsidies & grant, and other various non-financial benefits in terms of car registration, and access to car pool lane expected to drive the sale of electric vehicles in coming years. For instance, in November 2019, Germany car manufacturers have raised their cash incentives for electric cars to move away the transition from combustion engine to battery-powered engines to reduce harmful emission. Countries, such as U.S., China, and different countries in Europe, have registered significant growth in the sale of electric vehicle in the past few decades that in turn, will contribute to the market growth.

However, lack of charging infrastructure along with variations in charging load & lack of standardization are some of the major factors analyzed to hinder the market growth. Some of the electric vehicle manufacturer such as Tesla Inc. is focusing on global standardization of charging infrastructure to overcome this drawback. Nevertheless, rising adoption of electric vehicles in government and commercial sectors is anticipated to drive the market. For instance, in 2020, UK government has approved 200 electric buses with an ambition to make all buses fully electric by 2025 that could save nearly 7,400 tones of CO2 every year.

The market of electric vehicles is likely to be affected positively by the recent trend of self-driving trucks. Furthermore, the top OEMs similar as Volvo, Daimler Vera, and Tesla, are among others have been developing automatic-driving electric vehicles for the market. Therefore, technology regarding self- driving will surge the demand for electric vehicles in the long run owing to the colorful advantages similar as decreased accident threat, easy use, and presence of value- added features. This technology is anticipated to develop by the coming 5-6 times. Therefore, growth of self- driving electric vehicle technology is likely to bring growth opportunities for the market in the forthcoming time period. The awareness initiatives that have been taken to promote the use of electric vehicles, and the rising number of electric vehicle production plants have also contributed to the growth of the electric vehicle market.

Covid-19 Impact:
Globally, the COVID-19 pandemic has a savage effect on all types of markets. Especially, in the automotive sector, due to the restrictions on production and contraction of automobile sales, the market growth has reduced. But gradually after lockdowns, the market growth is increasing day-by-day for its advanced features. The electric vehicle market growth is raised by the adoption of EVs in the US, China, and European countries and demand for battery-operated vehicles. Globally, all the government’s goal is to have zero-emission vehicles and to reduce dependence on oil imports which are provided by electric vehicle market. Some factors to increase the demand for electric vehicles market value are establishing of charging infrastructure, the rise of residential units, lowering the price of batteries.

Companies Mentioned:
Aiways Automobile Europe GmbH, Arrival Limited, Ashok Leyland, Beijing Automobiles Industry Holding Corporative limited, Bentley Motors Limited, Blue Bird Corporation, BMW Group, BYD Company Motors, Changsha Sunda New Energy Technology Limited, Citroen, Daimler AG, Ford Motors, General Motors, Hyundai, Irizar, Lightening GT, Micro Mobility, MW Motors, NFI Group, Nikola Motor Company, Nio, Nissan Motor, PoleStar, Proterra, Rimac Automobiles, SAIC, Tata Motors, Tesla, Toyota Motor Corporation, VDL Groep, Volkswagen, Workhorse Group, Yutong, Zacua, Zhejiang Geely Holding Group

Considered In the Report
• Geography: Global
• Base year: 2021
• Historical year: 2016
• Estimated Year: 2022
• Forecasted year: 2025

Countries covered:
• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Spain, Italy, Russia, Norway, Netherlands)
• Asia-Pacific (India, Japan, Australia, China, Korea)
• South America (Brazil, Argentina, Columbia, Chile)
• Middle East & Africa (UAE, Qatar, Saudi Arabia, South Africa)

Aspects Covered In the Report
• Market Size By Value for the time period (2016-2027F)
• Market Size By Volume for the time period (2016-2027F)
• Market Share by Vehicle Type (Passenger & Light Commercial)
• Market Share by Propulsion Type (BEV & PHEV)
• Market Share by Sales Channel (2016, 2021 & 2027F)
• Market Share by Charging Type (Normal & Fast)
• Market Share by Region
• Market Share by Country

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

The approach of the report:
We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free.

Intended Audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the electric vehicle industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Table of Content

1. Executive Summary

2. Report Methodology

3. Market Structure

3.1. Market Considerate

3.2. Market Definition

4. Economic /Demographic Snapshot

5. Global Electric Vehicles Market Outlook

5.1. Market Size

5.1.1. By Value

5.1.2. By Volume

5.2. Market Share

5.2.1. By Region

5.2.2. By Country

5.2.3. By Company

5.2.4. By Vehicle Type

5.2.5. By Propulsion Type

5.2.6. By Charging Type

5.2.7. By Vehicle Class

5.3. Global BEV Market Outlook

5.3.1. Market Size By Value

5.3.2. Market Size By Volume

5.4. Global PHEV Market Outlook

5.4.1. Market Size By Value

5.4.2. Market Size By Volume

6. North America Electric Vehicles Market Outlook

6.1. Market Size

6.1.1. By Value

6.1.2. By Volume

6.2. Market Share

6.2.1. By Country

6.2.2. By Vehicle Type

6.2.3. By Propulsion Type

6.2.4. By Charging Type

6.3. North America BEV & PHEV Market Outlook

6.3.1. By Value

6.3.2. By Volume

6.4. US Market Electric Vehicle Market Outlook

6.4.1. Market Size

6.4.2. Market Share

6.4.2.1. By Vehicle Type

6.4.2.2. By Propulsion Type

6.5. Canada Market Electric Vehicle Market Outlook

6.5.1. Market Size

6.5.2. Market Share

6.5.2.1. By Vehicle Type

6.5.2.2. By Propulsion Type

6.6. Mexico Market Electric Vehicle Market Outlook

6.6.1. Market Size

6.6.2. Market Share

6.6.2.1. By Vehicle Type

6.6.2.2. By Propulsion Type

7. Europe Electric Vehicles Market Outlook

7.1. Market Size

7.1.1. By Value

7.1.2. By Volume

7.2. Market Share

7.2.1. By Country

7.2.2. By Vehicle Type

7.2.3. By Propulsion Type

7.2.4. By Charging Type

7.3. Europe BEV & PHEV Market Outlook

7.3.1. By Value

7.3.2. By Volume

7.4. Germany Market Electric Vehicle Market Outlook

7.4.1. Market Size

7.4.2. Market Share

7.4.2.1. By Vehicle Type

7.4.2.2. By Propulsion Type

7.5. UK Market Electric Vehicle Market Outlook

7.5.1. Market Size

7.5.2. Market Share

7.5.2.1. By Vehicle Type

7.5.2.2. By Propulsion Type

7.6. France Market Electric Vehicle Market Outlook

7.6.1. Market Size

7.6.2. Market Share

7.6.2.1. By Vehicle Type

7.6.2.2. By Propulsion Type

7.7. Norway Market Electric Vehicle Market Outlook

7.7.1. Market Size

7.7.2. Market Share

7.7.2.1. By Vehicle Type

7.7.2.2. By Propulsion Type

7.8. Netherlands Market Electric Vehicle Market Outlook

7.8.1. Market Size

7.8.2. Market Share

7.8.2.1. By Vehicle Type

7.8.2.2. By Propulsion Type

7.9. Sweden Market Electric Vehicle Market Outlook

7.9.1. Market Size

7.9.2. Market Share

7.9.2.1. By Vehicle Type

7.9.2.2. By Propulsion Type

7.10. Italy Market Electric Vehicle Market Outlook

7.10.1. Market Size

7.10.2. Market Share

7.10.2.1. By Vehicle Type

7.10.2.2. By Propulsion Type

7.11. Spain Market Electric Vehicle Market Outlook

7.11.1. Market Size

7.11.2. Market Share

7.11.2.1. By Vehicle Type

7.11.2.2. By Propulsion Type

8. Asia-Pacific Electric Vehicles Market Outlook

8.1. Market Size

8.1.1. By Value

8.1.2. By Volume

8.2. Market Share

8.2.1. By Country

8.2.2. By Vehicle Type

8.2.3. By Propulsion Type

8.2.4. By Charging Type

8.3. Asia-Pacific BEV & PHEV Market Outlook

8.3.1. By Value

8.3.2. By Volume

8.4. China Market Electric Vehicle Market Outlook

8.4.1. Market Size

8.4.2. Market Share

8.4.2.1. By Vehicle Type

8.4.2.2. By Propulsion Type

8.5. Japan Market Electric Vehicle Market Outlook

8.5.1. Market Size

8.5.2. Market Share

8.5.2.1. By Vehicle Type

8.5.2.2. By Propulsion Type

8.6. India Market Electric Vehicle Market Outlook

8.6.1. Market Size

8.6.2. Market Share

8.6.2.1. By Vehicle Type

8.6.2.2. By Propulsion Type

8.7. Australia Market Electric Vehicle Market Outlook

8.7.1. Market Size

8.7.2. Market Share

8.7.2.1. By Vehicle Type

8.7.2.2. By Propulsion Type

8.8. Korea Market Electric Vehicle Market Outlook

8.8.1. Market Size

8.8.2. Market Share

8.8.2.1. By Vehicle Type

8.8.2.2. By Propulsion Type

9. South America Electric Vehicles Market Outlook

9.1. Market Size

9.1.1. By Value

9.1.2. By Volume

9.2. Market Share

9.2.1. By Country

9.2.2. By Vehicle Type

9.2.3. By Propulsion Type

9.2.4. By Charging Type

9.3. South America BEV & PHEV Market Outlook

9.3.1. By Value

9.3.2. By Volume

9.4. Brazil Market Electric Vehicle Market Outlook

9.4.1. Market Size

9.4.2. Market Share

9.4.2.1. By Vehicle Type

9.4.2.2. By Propulsion Type

9.5. Argentina Market Electric Vehicle Market Outlook

9.5.1. Market Size

9.5.2. Market Share

9.5.2.1. By Vehicle Type

9.5.2.2. By Propulsion Type

9.6. Chile Market Electric Vehicle Market Outlook

9.6.1. Market Size

9.6.2. Market Share

9.6.2.1. By Vehicle Type

9.6.2.2. By Propulsion Type

9.7. Columbia Market Electric Vehicle Market Outlook

9.7.1. Market Size

9.7.2. Market Share

9.7.2.1. By Vehicle Type

9.7.2.2. By Propulsion Type

10. Middle East & Africa Electric Vehicles Market Outlook

10.1. Market Size

10.1.1. By Value

10.1.2. By Volume

10.2. Market Share

10.2.1. By Country

10.2.2. By Vehicle Type

10.2.3. By Propulsion Type

10.2.4. By Charging Type

10.3. Middle East & Africa BEV & PHEV Market Outlook

10.3.1. By Value

10.3.2. By Volume

10.4. UAE Market Electric Vehicle Market Outlook

10.4.1. Market Size

10.4.2. Market Share

10.4.2.1. By Vehicle Type

10.4.2.2. By Propulsion Type

10.5. Saudi Arabia Market Electric Vehicle Market Outlook

10.5.1. Market Size

10.5.2. Market Share

10.5.2.1. By Vehicle Type

10.5.2.2. By Propulsion Type

10.6. Qatar Market Electric Vehicle Market Outlook

10.6.1. Market Size

10.6.2. Market Share

10.6.2.1. By Vehicle Type

10.6.2.2. By Propulsion Type

10.7. South Africa Market Electric Vehicle Market Outlook

10.7.1. Market Size

10.7.2. Market Share

10.7.2.1. By Vehicle Type

10.7.2.2. By Propulsion Type

11. Market Dynamics

11.1. Key Drivers

11.2. Key Challenges

12. Market Trends and Developments

12.1. XXXXX

12.2. XXXXX

12.3. XXXXX

12.4. XXXXX

13. Competitive Landscape

13.1. Porter's Five Forces

14. Company Profile

14.1. Beijing Automobiles Industry Holding Corporative limited

14.2. BMW Group

14.3. BYD Company Motors

14.4. Daimler AG

14.5. Ford Motors

14.6. General Motors

14.7. Hyundai

14.8. Nissan Motor

14.9. SAIC

14.10. Tesla

14.11. Toyota Motor Corporation

14.12. Volkswagen

14.13. Zhejiang Geely Holding Group

14.14. Aiways Automobiles Corporative Limited

14.15. Arrival Limited

14.16. Ashok Leyland

14.17. Bentley Motors Limited

14.18. Blue Bird Corporation

14.19. Changsha Sunda New Energy Technology Limited

14.20. Citroen

14.21. Irizar

14.22. Lightening GT

14.23. Micro Mobility

14.24. MW Motors

14.25. NFI Group

14.26. Nikola Motor Company

14.27. Nio

14.28. PoleStar

14.29. Proterra

14.30. Rimac Automobiles

14.31. Tata Motors

14.32. VDL Groep

14.33. Workhorse Group

14.34. Yutong

14.35. Zacua

15. Strategic Recommendations

16. Disclaimer

List of Figures

Figure 1 : Global Electric Vehicles Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 2 : Global Electric Vehicles Market Size – By Volume 2016 to 2027F (In Thousand Units)
Figure 3: Global Electric Vehicle Market Share – By Charging Type By Volume (2016, 2021 & 2027F)
Figure 4 : North America Electric Vehicles Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 5 : North America Electric Vehicles Market Size – By Volume 2016 to 2027F (In Thousand Units)
Figure 6: North America Electric Vehicle Market Share – By Charging Type By Volume (2016, 2021 & 2027F)
Figure 7 : North America BEV & PHEV Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 8 : North America BEV & PHEV Market Size – By Volume 2016 to 2027F (In USD Billion)
Figure 9 : Europe Electric Vehicles Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 10 : Europe Electric Vehicles Market Size – By Volume 2016 to 2027F (In Thousand Units)
Figure 11: Europe Electric Vehicle Market Share – By Charging Type By Volume (2016, 2021 & 2027F)
Figure 12 : Europe BEV & PHEV Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 13 : Europe BEV & PHEV Market Size – By Volume 2016 to 2027F (In USD Billion)
Figure 14 : Asia-Pacific Electric Vehicles Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 15 : Asia-Pacific Electric Vehicles Market Size – By Volume 2016 to 2027F (In Thousand Units)
Figure 16: Asia-Pacific Electric Vehicle Market Share – By Charging Type By Volume (2016, 2021 & 2027F)
Figure 17 : Asia-Pacific BEV & PHEV Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 18 : Asia-Pacific BEV & PHEV Market Size – By Volume 2016 to 2027F (In USD Billion)
Figure 19 : South America Electric Vehicles Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 20 : South America Electric Vehicles Market Size – By Volume 2016 to 2027F (In Thousand Units)
Figure 21: South America Electric Vehicle Market Share – By Charging Type By Volume (2016, 2021 & 2027F)
Figure 22: South America BEV & PHEV Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 23 : South America BEV & PHEV Market Size – By Volume 2016 to 2027F (In USD Billion)
Figure 24 : Middle East & Africa Electric Vehicles Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 25 : Middle East & Africa Electric Vehicles Market Size – By Volume 2016 to 2027F (In Thousand Units)
Figure 26: Middle East & Africa Electric Vehicle Market Share – By Charging Type By Volume (2016, 2021 & 2027F)
Figure 27 : Middle East & Africa BEV & PHEV Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 28 : Middle East & Africa BEV & PHEV Market Size – By Volume 2016 to 2027F (In USD Billion)
Figure 29: Porter's Five Force Model for Electric Vehicle Industry

List of Tables
Table 1: Top 10 Counties Economic Snapshot 2020
Table 2: Economic Snapshot of Other Prominent Countries 2020
Table 3: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 4: Global Electric Vehicle Market Share – By Region By Value (2016, 2021 & 2027F)
Table 5: Global Electric Vehicle Market Share – By Region By Volume (2016, 2021 & 2027F)
Table 6: Global Electric Vehicle Market Share – By Country By Value (2016, 2021 & 2027F)
Table 7: Global Electric Vehicle Market Share – By Country By Value (2016, 2021 & 2027F)
Table 8: Global Electric Vehicle Market Share By Company (2020)
Table 9: Global Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 10: Global Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 11: Global Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 12: Global Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 13: Global Electric Vehicle Market Share – By Vehicle Class By Value (2016, 2021 & 2027F)
Table 14: Global Electric Vehicle Market Share – By Vehicle Class By Volume (2016, 2021 & 2027F)
Table 15: Global BEV Market Size By Value 2016 to 2027F (In USD Billion)
Table 16: Global BEV Market Size By Volume 2016 to 2027F (In USD Billion)
Table 17: Global PHEV Market Size By Value 2016 to 2027F (In USD Billion)
Table 18: Global PHEV Market Size By Volume 2016 to 2027F (In USD Billion)
Table 19: North America Electric Vehicle Market Share – By Country By Value (2016, 2021 & 2027F)
Table 20: North America Electric Vehicle Market Share – By Country By Volume (2016, 2021 & 2027F)
Table 21: North America Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 22: North America Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 23: North America Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 24: North America Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 25: US Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 26: US Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 27: US Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 28: US Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 29: US Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 30: Canada Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 31: Canada Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 32: Canada Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 33: Canada Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 34: Canada Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 35: Mexico Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 36: Mexico Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 37: Mexico Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 38: Mexico Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 39: Mexico Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 40: Europe Electric Vehicle Market Share – By Country By Value (2016, 2021 & 2027F)
Table 41: Europe Electric Vehicle Market Share – By Country By Volume (2016, 2021 & 2027F)
Table 42: Europe Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 43: Europe Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 44: Europe Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 45: Europe Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 46: Germany Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 47: Germany Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 48: Germany Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 49: Germany Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 50: Germany Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 51: UK Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 52: UK Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 53: UK Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 54: UK Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 55: UK Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 56: France Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 57: France Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 58: France Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 59: France Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 60: France Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 61: Norway Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 62: Norway Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 63: Norway Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 64: Norway Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 65: Norway Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 66: Netherlands Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 67: Netherlands Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 68: Netherlands Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 69: Netherlands Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 70: Netherlands Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 71: Sweden Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 72: Sweden Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 73: Sweden Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 74: Sweden Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 75: Sweden Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 76: Italy Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 77: Italy Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 78: Italy Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 79: Italy Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 80: Italy Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 81: Spain Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 82: Spain Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 83: Spain Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 84: Spain Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 85: Spain Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 86: Asia-Pacific Electric Vehicle Market Share – By Country By Value (2016, 2021 & 2027F)
Table 87: Asia-Pacific Electric Vehicle Market Share – By Country By Volume (2016, 2021 & 2027F)
Table 88: Asia-Pacific Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 89: Asia-Pacific Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 90: Asia-Pacific Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 91: Asia-Pacific Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 92: China Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 93: China Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 94: China Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 95: China Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 96: China Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 97: Japan Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 98: Japan Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 99: Japan Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 100: Japan Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 101: Japan Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 102: India Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 103: India Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 104: India Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 105: India Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 106: India Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 107: Australia Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 108: Australia Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 109: Australia Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 110: Australia Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 111: Australia Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 112: Korea Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 113: Korea Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 114: Korea Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 115: Korea Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 116: Korea Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 117: South America Electric Vehicle Market Share – By Country By Value (2016, 2021 & 2027F)
Table 118: South America Electric Vehicle Market Share – By Country By Volume (2016, 2021 & 2027F)
Table 119: South America Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 120: South America Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 121: South America Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 122: South America Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 123: Brazil Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 124: Brazil Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 125: Brazil Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 126: Brazil Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 127: Brazil Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 128: Argentina Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 129: Argentina Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 130: Argentina Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 131: Argentina Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 132: Argentina Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 133: Chile Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 134: Chile Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 135: Chile Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 136: Chile Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 137: Chile Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 138: Columbia Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 139: Columbia Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 140: Columbia Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 141: Columbia Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 142: Columbia Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 143: Middle East & Africa Electric Vehicle Market Share – By Country By Value (2016, 2021 & 2027F)
Table 144: Middle East & Africa Electric Vehicle Market Share – By Country By Volume (2016, 2021 & 2027F)
Table 145: Middle East & Africa Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 146: Middle East & Africa Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 147: Middle East & Africa Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 148: Middle East & Africa Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 149: UAE Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 150: UAE Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 151: UAE Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 152: UAE Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 153: UAE Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 154: Saudi Arabia Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 155: Saudi Arabia Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 156: Saudi Arabia Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 157: Saudi Arabia Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 158: Saudi Arabia Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 159: Qatar Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 160: Qatar Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 161: Qatar Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 162: Qatar Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 163: Qatar Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 164: South Africa Electric Vehicles Market Size (Value & Volume) 2016 to 2027F
Table 165: South Africa Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 166: South Africa Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 167: South Africa Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 168: South Africa Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 169: Key Facts of Beijing Automobiles Industry Holding Corporative Limited
Table 170: Key Facts of BMW Group
Table 171: Key Facts of BYD Company Motors
Table 172: Key Facts of Daimler AG
Table 173: Key Facts of Ford Motors
Table 174: Key Facts of General Motors
Table 175: Key Facts of Hyundai
Table 176: Key Facts of Nissan Motor
Table 177: Key Facts of SAIC
Table 178: Key Facts of Tesla
Table 179: Key Facts of Toyota Motor Corporation
Table 180: Key Facts of Volkswagen
Table 181: Key Facts of Zhejiang Geely Holding Group
Table 182: Key Facts of Aiways Automobiles Corporative Limited
Table 183: Key Facts of Arrival Limited
Table 184: Key Facts of Ashok Leyland
Table 185: Key Facts of Bentley Motors Limited
Table 186: Key Facts of Blue Bird Corporation
Table 187: Key Facts of Changsha Sunda New Energy Technology Limited
Table 188: Key Facts of Citroen
Table 189: Key Facts of Irizar
Table 190: Key Facts of Lightening GT
Table 191: Key Facts of Micro Mobility
Table 192: Key Facts of MW Motors
Table 193: Key Facts of NFI Group
Table 194: Key Facts of Nikola Motor Company
Table 195: Key Facts of Nio
Table 196: Key Facts of PoleStar
Table 197: Key Facts of Proterra
Table 198: Key Facts of Rimac Automobiles
Table 199: Key Facts of Tata Motors
Table 200: Key Facts of VDL Groep
Table 201: Key Facts of Workhorse Group
Table 202: Key Facts of Yutong
Table 203: Key Facts of Zacua

Featured Companies

1. Aiways Automobiles Corporative Limited

2. Arrival Limited

3. Ashok Leyland

4. Beijing Automobiles Industry Holding Corporative Limited

5. Bentley Motors Limited

6. Blue Bird Corporation

7. BMW Group

8. BYD Company Motors

9. Changsha Sunda New Energy Technology Limited

10. Citroen

11. Daimler AG

12. Ford Motors

13. General Motors

14. Hyundai

15. Irizar

16. Lightening GT

17. Micro Mobility

18. MW Motors

19. NFI

20. Nikola Motor Company

21. Nio

22. Nissan Motor

23. PoleStar

24. Proterra

25. Rimac Automobiles

26. SAIC

27. Tata Motors

28. Tesla

29. Toyota Motor Corporation

30. VDL

31. Volkswagen

32. Workhorse Group

33. Yutong

34. Zacua

35. Zhejiang Geely

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Frequently Asked Questions ?

While the electric car motor uses AC, the battery needs to receive its electricity in DC.

Rapidly Increasing Sales of Electric Vehicles and Rising Fuel Prices Are Driving Factors of Global Electric Vehicle Market. Government Initiatives for Same is Also Helping to Boost the Global EV Market.

The key players of the global Electric Vehicle market are Nissan Motor, Tesla Inc, Toyota Motor, Ford Motor, Volkswagen, BMW, General Motors, Daimler AG, Hyundai Motor and Mitsubishi Motors.

Asia-Pacific region is Dominating global electric vehicles market due to the growing demand for electric cars at a rapid pace across the China and India.

EV battery price reductions, connected cars, battery management system, Smart charging, wireless on the go charging are the key market trends or technologies which will have a major impact on the electric vehicle market in the future.

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Global Electric Vehicle Market Outlook, 2027

Global Electric Vehicle Market Outlook, 2027