Press release
Electric Vehicle Market Revolutionary Trends in Industry Statistics by 2020-2030 | Daimler AG, Groupe Renault, Nissan and Volkswagen AG
A report, "Electric Vehicle" has been recently published by Market Industry Reports (MIR). As per the report, the global electric vehicle market is anticipated to grow at a CAGR of 19.2% from 2020 to 2030.The increasing mass manufacture of electric vehicles by several key automotive companies, such as Tesla, BYD, BMW, Volkswagen, and others, has been driving the electric vehicle market. Electric vehicles use a clean energy source (electricity) to function. Thus, various regional governments across the globe have been undertaking various initiatives to promote electric vehicles to reduce carbon emissions, further fuelling market growth. The increasing number of collaborations and business agreements between battery raw material suppliers, battery manufacturers, and electric vehicle manufacturers are supplementing growth of the electric vehicle market. Also, the emergence of fuel cell electric vehicles that generate electricity using chemical reactions is shaping the future of the electric vehicle market. Additionally, low operational & maintenance costs, low vibrations, and advanced safety features, among others, are the several advantages offered by electric vehicles, which are responsible for driving the sale of electric vehicles over combustion engine vehicles. Moreover, increasing investments in R&D activities to develop better battery solutions are expected to create new opportunities in the market. Also, the adoption of additive manufacturing techniques to build lightweight electric vehicles is expected to propel market growth during the forecast period.
Get Sample Copy of the Report "Electric Vehicle Market" @ https://www.marketindustryreports.com/pdf/242
Top Key Players:
Some of the prominent players in the global electric vehicle market include Tesla, BYD Company Ltd, CHERY, Hyundai Motor Company, Daimler AG, Groupe Renault, Nissan and Volkswagen AG, among others.
Growth Factor:
Heavy investments by electric vehicle manufacturers, high environmental concerns across the globe to reduce carbon emissions, and favorable laws and regulations, are the major factors driving the electric vehicle market.
Electric vehicles are embedded with traction motors or electric motors for propulsion. In electric vehicles, batteries play a vital role as they are the main energy sources. Hence, battery manufacturers and electric vehicle manufacturers have been collaborating to find the best battery solutions. For instance, Toyota has entered into a partnership with Contemporary Amperex Technology (CATL) to produce electric vehicle batteries, reuse of batteries, and develop new battery technology for plug-in hybrid vehicles.
Segmentation Overview:
BY PROPULSION TYPE
Battery Electric Vehicle (BEV)
Fuel Cell Electric Vehicle (FCEV)
Plug-In Hybrid Electric Vehicle (PHEV)
Hybrid Electric Vehicle (HEV)
BY VEHICLE TYPE
Two-Wheeler
Passenger Car
Commercial Vehicle
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Regional Analysis:
Asia Pacific is expected to grow at the highest CAGR during the forecast period followed by Europe. The growth of this region can be attributed to the increasing number of government initiatives to promote clean energy, high adoption rates in China & Japan, a huge customer base, rapid urbanization and increasing demand for low fuel emission & efficiency, and light-weight vehicles from the Asian countries.
Table of Contents
INTRODUCTION
Market Definition
Market Classification
Geographic Scope
Years Considered for the Study: Historical Years - 2016 & 2017; Base Year - 2018; Forecast Years - 2019 to 2030
Currency Used
RESEARCH METHODOLOGY
Research Framework
Data Collection Technique
Data Sources
Secondary Sources
Primary Sources
Market Estimation Methodology
Bottom Up Approach
Top Down Approach
Data Validation and Triangulation
Market Forecast Model
Limitations/Assumptions of the Study
ABSTRACT OF THE STUDY
MARKET DYNAMICS ASSESSMENT
Overview
Drivers
Barriers/Challenges
Opportunities
Full Research Report @ https://www.marketindustryreports.com/checkout/242
About Market Industry Reports
Market Industry Reports is at the forefront of innovation to address the worldwide industry trends and opportunities. We identified the caliber of market dynamics & hence we excel in the areas of innovation and optimization, integrity, curiosity, customer and brand experience, and strategic business intelligence through our research.
Contact Us
Email: sales@marketindustryreports.com
Phone: +1 347 767 5477 ( US ) + 91 8956 767 535 ( IN ) + 44 131 463 4161 ( UK )
Website: https://www.marketindustryreports.com
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