Global Electric Vehicle Market Overview, 2022-2027

Global Electric Vehicle Market Size, Share, Trend & Market Analysis By Type, By Distribution Channel, By End User, Competition Forecast & Opportunities.

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
  • More...

The report titled ‘Global Electric Vehicle Market Overview, 2022-2027‘published by Bonafide Research identifies and discusses recent developments in electric mobility across the globe. The electric vehicles market has made great strides, and not just in terms of sales, but also by investments to deliver new electrified models, from R&D to factory redesign. The market that was recorded at a value of USD 268 Billion in the year 2021 is anticipated to grow to a market of USD 819 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 20.48% CAGR for 2022-2027.

Seen as the need of the hour, the electric vehicle 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. By the end of 2027, commercial electric vehicles are likely to reach a higher market share. The market is expected to incline towards the PHEV segment, which is to grow with significant value of CAGR in terms of volume of 18.19%, through the forecast period.

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 that is expected to account for an approx share of 40% by end of the forecasted period. The mid-priced vehicle class has limited features with less emphasis on expensive features, yet ruled the market with a share of over 70% in 2021. Further, the Asia Pacific market is expected to witness the fastest growth, with countries such as China, Japan, and South Korea is inclined toward innovation, technology, and the development of the advanced electric vehicle. The lack of standardization in the charging load is also a major drawback for the global market. Electric vehicle manufacturers are focusing on overcoming this by having their charging network.

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. Gaining popularity in 2018, the electric Go-Karting is expected to be the next big thing in the industry. Of all the leading companies, 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:
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
• Europe
• Asia-Pacific
• South America
• Middle East & 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.



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Companies Mentioned

  • Aiways Automobiles Corporative Limited
  • 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
  • Nikola Motor Company
  • Nio
  • Nissan Motor
  • PoleStar
  • Proterra
  • Rimac Automobiles
  • SAIC
  • Tata Motors
  • Tesla
  • Toyota Motor Corporation
  • VDL
  • Volkswagen
  • Workhorse Group
  • Yutong
  • Zacua
  • Zhejiang Geely

Table of Contents

  • 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
  • 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
  • 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
  • 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
  • 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
  • 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 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: Europe Electric Vehicle Market Share – By Country By Value (2016, 2021 & 2027F)
Table 26: Europe Electric Vehicle Market Share – By Country By Volume (2016, 2021 & 2027F)
Table 27: Europe Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 28: Europe Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 29: Europe Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 30: Europe Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 31: Asia-Pacific Electric Vehicle Market Share – By Country By Value (2016, 2021 & 2027F)
Table 32: Asia-Pacific Electric Vehicle Market Share – By Country By Volume (2016, 2021 & 2027F)
Table 33: Asia-Pacific Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 34: Asia-Pacific Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 35: Asia-Pacific Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 36: Asia-Pacific Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 37: South America Electric Vehicle Market Share – By Country By Value (2016, 2021 & 2027F)
Table 38: South America Electric Vehicle Market Share – By Country By Volume (2016, 2021 & 2027F)
Table 39: South America Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 40: South America Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 41: South America Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 42: South America Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 43: Middle East & Africa Electric Vehicle Market Share – By Country By Value (2016, 2021 & 2027F)
Table 44: Middle East & Africa Electric Vehicle Market Share – By Country By Volume (2016, 2021 & 2027F)
Table 45: Middle East & Africa Electric Vehicle Market Share – By Type By Value (2016, 2021 & 2027F)
Table 46: Middle East & Africa Electric Vehicle Market Share – By Type By Volume (2016, 2021 & 2027F)
Table 47: Middle East & Africa Electric Vehicle Market Share – By Propulsion By Value (2016, 2021 & 2027F)
Table 48: Middle East & Africa Electric Vehicle Market Share – By Propulsion By Volume (2016, 2021 & 2027F)
Table 49: Key Facts of Beijing Automobiles Industry Holding Corporative Limited
Table 50: Key Facts of BMW Group
Table 51: Key Facts of BYD Company Motors
Table 52: Key Facts of Daimler AG
Table 53: Key Facts of Ford Motors
Table 54: Key Facts of General Motors
Table 55: Key Facts of Hyundai
Table 56: Key Facts of Nissan Motor
Table 57: Key Facts of SAIC
Table 58: Key Facts of Tesla
Table 59: Key Facts of Toyota Motor Corporation
Table 60: Key Facts of Volkswagen
Table 61: Key Facts of Zhejiang Geely Holding Group
Table 62: Key Facts of Aiways Automobiles Corporative Limited
Table 63: Key Facts of Arrival Limited
Table 64: Key Facts of Ashok Leyland
Table 65: Key Facts of Bentley Motors Limited
Table 66: Key Facts of Blue Bird Corporation
Table 67: Key Facts of Changsha Sunda New Energy Technology Limited
Table 68: Key Facts of Citroen
Table 69: Key Facts of Irizar
Table 70: Key Facts of Lightening GT
Table 71: Key Facts of Micro Mobility
Table 72: Key Facts of MW Motors
Table 73: Key Facts of NFI Group
Table 74: Key Facts of Nikola Motor Company
Table 75: Key Facts of Nio
Table 76: Key Facts of PoleStar
Table 77: Key Facts of Proterra
Table 78: Key Facts of Rimac Automobiles
Table 79: Key Facts of Tata Motors
Table 80: Key Facts of VDL Groep
Table 81: Key Facts of Workhorse Group
Table 82: Key Facts of Yutong
Table 83: Key Facts of Zacua

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

Feed Phosphate Market Research FAQs

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 Overview, 2022-2027

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