We deliver real-time and historical data, forecasts, analytical insight, tools and software solutions. Similarly, in June 2019, Toyota Motor Corp. invested USD 2 Bn for the development of electric vehicle in Indonesia. On the basis of vehicle type, the market has been divided into passenger cars, commercial vehicles, and two-wheelers. Report predicts EV industry annual growth rate of 28 percent over next ten years and a 14-fold increase in jobs as annual investment in sector is set to increase from $1.7 billion to $7 billion . We help our clients address their most pressing strategic and commercial challenges. All of these sectors will be transformed by growing electric car adoption. To meet these mandated targets, the EV market will have to grow significantly. What was the historic market size (2017)? We use cookies on the public areas of our website. However, the passenger cars segment has registered the fastest-growing segment during the forecast period due to the rapidly increasing sales of electric cars across the globe. Key topics addressed include drivers of U.S. and global EV growth, auto manufacturer investments in EV development, announced new EV model introductions, projected EV Inform strategies for the confluence of emerging  power sources of the future and transportation  advancements, Plan for the future with unrivaled expertise in the  power and renewables, metals and oil sectors. Among the regions covered, Asia-Pacific has accounted for the largest market, followed by Europe and North America. Subscribe to our trusted data and analysis for global energy, chemicals, metals and mining industries. Copyright © 2020 MarketWatch, Inc. All rights reserved. Natural resources research for financial services, Oil Field Services & Original Equipment Manufacturers, 2020 Featured Reports - Power & Renewables, Evaluate key market trends in the electric vehicle market across multiple segments, Assess commodity demand, supply and price impact across oil, fuels, power, infrastructure, and metals and mining, Understand consumer behaviors driving the adoption of electric vehicles, Inform financial models and supply/demand forecasts with a one-stop data set, Make more confident decisions in business development plans, Understand which commodity segments are most at risk of the revolution sweeping through transport, Quantify electric vehicles versus internal combustion engines in various regions, Evaluate the growth of the electric vehicle market across multiple segments, Stay up-to-date on the policy landscape and drivers behind the electric vehicle world, Realise investment options and drive corporate strategy, Understand consumer behaviours driving the adoption of electric vehicles, Inform financial models and supply/demand forecasts with one-stop data set, Inform supply/demand forecasts with one-stop data set, Stay up-to-date on the global policy landscape, Understand commodity segments risk of the transport revolution, Identify companies in a position to succeed as electric vehicle adoption grows. Kenneth ResearchEmail: Sales@kennethresearch.comPhone: +1 313 462 0609. https://www.kennethresearch.com/sample-request-10195914, Electric Vehicle (EV) Market 2020 Dynamics, Trends, Emerging Growth Factors and Forecast to 2025, Review: The new and improved 2021 Porsche Panamera, Four home improvement projects you should never do yourself, Apple TV+ killed a show about Gawker after Tim Cook disapproved: report, How a divided government could affect the municipal bond market, Sen. Kelly Loeffler disavows white supremacist after posing with him for photo. By continuing to browse the site you are agreeing to our use of cookies. The number of electric vehicles on the road around the world will hit 125 million by 2030, the International Energy Agency forecasts. But guesses about the timing of gas guzzlers’ eclipse are all over the map. Electrified vehicles will account for a third of global vehicle sales by 2025, according to the Boston Consulting Group. No matter your role in the global transport market, we have you covered. Volkswagen’s embrace of electric cars has been the most ambitious in Europe, claiming 25% of its global sales in 2025 will be electric only (BEV) … This market has seen substantial growth over the past few years, and it has been experienced that the market will remain on the same growth level until the forecast period. Whereas, China is the largest market for an electric car and electric two-wheeler in the region. It covers light duty passenger vehicles, commercial vehicles, buses, and two/three-wheeled vehicles. Production of electric vehicles is estimated to climb to at least 1.3 million and could reach 1.5 million depending on market conditions this year. By 2024, the electric vehicle charging station market is expected to reach a CAGR of 38%. The need to attain sustainable transportation plays a significant role in driving the electric vehicles demand. We've paired our proven authority in macro oil forecasting with unrivaled expertise in power and renewables, metals and automotive sectors. Dec 01, 2020 (AmericaNewsHour) -- This research report categorizes the given market based on, vehicle type, propulsion type, vehicle class, component, charging station type, The global electric vehicle market has been segmented based on the charging station, connector type, installation type, vehicle type, and region.Based on technology, the global electric vehicle market has been segregated into the battery, hybrid, and plug-in hybrid electric vehicle. The fuel retail business will never be the same again. Evaluate the growth of the electric vehicle market across multiple segments Inform financial models and supply/demand forecasts with one-stop data set Identify companies in a position to succeed as electric vehicle adoption grows The Global Electric Vehicle (EV) Market is estimated to register a CAGR of 18.4% during the forecast period. The Electric Vehicle Charging Infrastructure Market will grow by $ 17.64 bn during 2020-2024 ... APAC is going to have a lucrative growth during the forecast period. North America region is Dominating global electric vehicles market due to the growing demand for electric cars at a rapid pace across the US and Canada. COMTEX_375326839/2606/2020-12-01T06:27:15. And in the following two years, 2015 to 2017, the number more than doubled again, to just over 3 million. If you would like to learn more about how we use cookies and how you can manage them, see our Cookie policy. What Are the Major Players of Electric Vehicle Global Industry? Global Electric Vehicle Market Research Report: Information by Technology (Battery, Hybrid and Plug-In Hybrid Electric Vehicles), Vehicle Type (Passenger Cars, Commercial Vehicles and Two Wheelers) and Region (North America, Europe, Asia-Pacific and RoW) - Forecast till 2025. What Are the Major Segments of Global Electric Vehicle (EV) Market? Retail fuels. With 250 million electric vehicles on the road by 2030 in the Sustainable Development Scenario, the share of electric vehicle charging in the average evening peak demand could rise to as high as 4-10% in the main electric vehicle markets (China, European Union … Which Region is Dominating Global Electric Vehicle Market? Metals and mining. By Technology: Battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles, By Vehicle Type: Passenger cars, commercial vehicles, and two-wheelers. Connect the moving parts between oils, metals, fuels, power and infrastructure industries to gain a full view of electric vehicles' global market impacts in our one-stop-shop solution. What are the strategies adopted by key players? A weighted average of multiple forecasts puts U.S. market share for electric cars and plug-in hybrids at 8.2 percent in 2020. In 2018, the US … The Global Electric Vehicle (EV) Market is estimated to register a CAGR of 18.4% during the forecast period. The Global Electric Vehicle Market Has Been Segmented Based on the Technology, Vehicle Type, Charging Station, Connector Type, Installation Type, Vehicle Type and Region. Government measures to encourage uptake of EVs 7 2.1 Road to Zero strategy 8 2.2 EV targets 9 EV market forecasts 10 2.3 Charging Infrastructure 11 Availability of charging points: “Range anxiety” 12 4 1.2 Why do we need Electric Vehicles? That’s up from the firm's previous forecast. As fuel efficiency gains grow in ICE cars and EV popularity takes hold, gasoline and diesel retailers need detailed forecasts and market analysis to understand what’s next for their business. Electric vehicle (EV) sales should hit 2.7 million in 2019 even as the broader auto market declines (paywall). If the forecast is correct, new electric car sales in Britain in 2020 will have to be 260% higher than in 2019. 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