Electric Vehicle Market Analysis, Overview, Revenue, Growth, Opportunities And Forecast Up To 2025
Increasing installation of fast charging stations for electric vehicles, especially in developed countries, is expected to augur well for the global market. In June 2019, GreenWay Polska, a Polish network of fast charging stations, completed its target of installing 100 electric vehicle fast charging stations in Poland.
Implementation of Stringent Carbon Emissions Regulations to Drive Demand
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Manufacturers to Launch New Safety Enhancement Features for Electric Vehicles
Some of the leading manufacturers of global electric vehicle market are Tesla, Nissan Motor Corporation, BYD, BMW, and Volkswagen. Manufacturers are foreseen to concentrate on sustaining their market position by adopting key business tactics, which include signing strategic agreements and collaborations and introducing new products.
Players are also anticipated to focus on increasing the safety of electric vehicle drivers. In May 2019, Tesla launched a couple of advanced safety features related to its Autopilot advanced driver assistance system. Emergency Lane Departure Avoidance and Lane Departure Avoidance features help Tesla electric vehicle drivers to avoid collisions by staying in the lane and maintaining engagement when using Autopilot.
By Charging Station
Among propulsion segments, FCEV is projected to rise at a higher CAGR due to advantages such as short refueling time and improved fuel economy. Among charging stations, supercharging station is forecast to expand at a leading growth rate because of the rising demand for electric vehicles and presence of popular providers such as Tesla in the market.
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