Electric Vehicles Market Size will Grow From USD 72.23 billion in 2014 to USD 364.67 billion by 2023, at an boosting CAGR of 19.71%

Competitive Insights:
The leading players in the market are Mitsubishi Motors Corporation, Groupe Renault, Daimler AG, General Motors Company, Volkswagen AG, Honda Motor Co., Ltd., Ford Motor Company, Nissan Motor Corporation Ltd and Toyota Motor Corporation.

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The Electric Vehicle market is segmented as follows-

By Technology:
Battery Electric Vehicles
Hybrid Electric Vehicles
Plug-In Hybrid Electric Vehicles

By Power Source:
On Board Electric Generator
Stored Electricity

By Vehicle Type:
Two Wheelers
Passenger Cars
Commercial Vehicles

By Powertrain:
Combined Hybrid
Series Hybrid
Parallel Hybrid

Industry Outlook and Trend Analysis:
The Electric Vehicles Market was worth USD 72.23 billion in 2014 and is expected to reach approximately USD 364.67 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 19.71% during the forecast period.

Electric vehicles are self-moving transportation machines for passengers and products using the power that is stored in the batteries by means of electric engines or with the assistance of both interior combustion engine and electric engines working in tandem. Electric vehicles are thought to be the vehicles without bounds and are very liable to make regular vehicles obsolete. The development of electric vehicles is attributed to the ever increasing generation and sales of automobiles. Vehicles have become an increasingly affordable commodity due to the rising discretionary incomes across the world.

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Table of Contents:
1.Introduction
2.Executive Summary
3.Market Overview
4.Market Analysis by Regions
4.1.North America (United States, Canada and Mexico)
4.1.1.United States Market States and Outlook (2014-2023)
4.1.2.Canada Market States and Outlook (2014-2023)
4.1.3.Mexico Market States and Outlook (2014-2023)
4.2.Europe (Germany, France, UK, Russia, Italy and Rest of Europe)
4.2.1.Germany Market States and Outlook (2014-2023)
4.2.2.France Market States and Outlook (2014-2023)
4.2.3.UK Market States and Outlook (2014-2023)
4.2.4.Russia Market States and Outlook (2014-2023)
4.2.5.Italy Market States and Outlook (2014-2023)
4.2.6.Rest of Europe Market States and Outlook (2014-2023)
4.3.Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Rest of Asia-Pacific)
4.3.1.China Market States and Outlook (2014-2023)
4.3.2.Japan Market States and Outlook (2014-2023)
4.3.3.Korea Market States and Outlook (2014-2023)
4.3.4.India Market States and Outlook (2014-2023)
4.3.5.Rest of Asia-Pacific Market States and Outlook (2014-2023)
4.4.South America (Brazil, Argentina, Columbia and Rest of South America)
4.4.1.Brazil Market States and Outlook (2014-2023)
4.4.2.Argentina Market States and Outlook (2014-2023)
4.4.3.Columbia Market States and Outlook (2014-2023)
4.4.4.Rest of South America Market States and Outlook (2014-2023)
4.5.Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa and Rest of MEA)
4.5.1.Saudi Arabia Market States and Outlook (2014-2023)
4.5.2.UAE Market States and Outlook (2014-2023)
4.5.3.Egypt Market States and Outlook (2014-2023)
4.5.4.Nigeria Market States and Outlook (2014-2023)
4.5.5.South Africa Market States and Outlook (2014-2023)
4.5.6.Rest of MEA Market States and Outlook (2014-2023)
To be Continued…

Regional Outlook and Trend Analysis:
The Asia-Pacific is the biggest market for EVs because of support from the government, tax rebates and subsidies and persistently enhancing charging framework in nations, for example, Japan and China. The administrations in both the significant markets i.e. Japan and China give sponsorships and other non-money related advantages, for example, access to number plate, car pool lane access, and street impose exclusions for EV users.

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This release was published on openPR.