Electric Vehicles Market Share 2018-2026 |Volkswagen AG, BMW, Tesla, Mercedes, General Motors

According to a study published by Polaris Market Research, global electric vehicles market is expected to grow from USD 49 billion in 2017 to USD 912 billion by 2026, at a CAGR of 38.4% during the forecast period.

The global electric vehicles (EV) market is driven by a combination of political, economic, and technological factors in tandem with the influence of more planned mass-market electric vehicle introductions. Some other favorable factors include increasing government incentives on the purchases, alternative to fuel-operative vehicles with the increasing fuel prices, and technological developments in the designing of electric vehicles.

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Competitive Analysis:
• Volkswagen Group
• Tesla
• BMW
• Mercedes
• Toyota
• BAIC Corporation
• General Motors
• Ford
• and Nissan-Renault-Mitsubishi.


Oil dependence benefits, climate change, and clean air are the most crucial factors for different governments across the world to promote the electric vehicles among consumers. Apart from these factors, one another significant parameter includes economic benefits from manufacturing of the future electric car industry.

The economic factors such as purchasing price, number of potential buyer, and fuel price are also some of the crucial factors affecting the sales of electric vehicles. As the electric vehicles are environmentally-safe alternatives to the fuel-based vehicles, its becoming a preferable option by many consumers. However, consumers in certain developing countries have also limited its use on account of high maintenance cost.

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Increase in the awareness of consumers concerning travel modes that alleviate pollution and transportation woes is also a significant factor for the growth of electrical vehicles. Initially two-wheelers with electric assist may have been foreign concepts, but with increasing knowledge of consumers towards health benefits from these technological developments has enhanced the market attractiveness for the electric vehicles.

Technological advancements have also played a significant role in this industry. The charging time and range are important technological factors that have been continuously worked upon by the manufacturers. Protective nano battery layers, high recharge capacities of lithium-ion batteries, and decline in electric vehicles battery costs are some of the latest technological outputs.

Electric vehicles are energy-efficient alternatives in compliance with the environment, however, also have certain limitations. Two most critical disadvantages associated with these vehicles include lead emissions from the batteries and energy storage issues concerning electrical energy.

The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the

• Global Electric Vehicles Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada.

• Europe is divided into Germany, UK, Italy, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

• The United States, China, South Korea, Japan, and Europe majorly account for the global electric vehicle production. Among these, Japan is one of the largest producer of battery packs for the electrical vehicles.
• These countries constitute of numerous manufacturers, who have made or promised multi-billion dollars investment to develop an array of new electric models.

• Asia is the most popular region for the growth of electronic vehicles with China as the most significant global player.

The global electric vehicle market is moderately competitive and consolidated on account of presence of several large-scale market players. Some of the key players include Volkswagen Group, Tesla, BMW, Mercedes, Toyota, BAIC Corporation, General Motors, Ford, and Nissan-Renault-Mitsubishi.

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Key Segments
Product Type
• Battery Electric Vehicle
• Hybrid Electric Vehicle
• Plug-in Hybrid Electric Vehicle

By Vehicle Type
• Two-wheelers
• Passenger Cars
• Commercial Vehicles

Power Source Type
• Stored Electricity
• On-Board Electric Generator

Region
• North America
o U.S.
o Canada
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Latin America
o Brazil
o Mexico
o Rest of Latin America
• Middle East and Africa

About us Polaris Market Research

Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities.

Mr. Neel
Corporate Sales, USA
Polaris Market Research
Phone: 1-646-568-9980
Email: sales@polarismarketresearch.com
Web: www.polarismarketresearch.com

This release was published on openPR.