Exclusive Report on Global Electric Vehicle Market to achieve a market size of $852.4 Billion as it excels

According to the report, The Global Electric Vehicle market was valued at $ 852.4 Million in 2019 and is anticipated to grow at a CAGR of 20.2% from 2020 to 2027. This growth is attributed to

Reducing the cost of EV batteries:
Because of mechanical progressions and the creation of EV batteries on a mass scale in huge volumes, the expense of EV batteries has been diminishing over the previous decade. This has prompted a reduction in the cost of electric vehicles as EV batteries are one of the most costly pieces of an electric vehicle. The costs of EV batteries are relied upon to tumble to around USD 60 for every kWh by 2030, which will extraordinarily lessen the cost of EV's making them less expensive than regular ICE vehicles.

The market is hampered by the lack of a charging station.

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The recently published research report on Global Electric Vehicle Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Electric Vehicle market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal
As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the Electric Vehicle market report also includes the following data points:
• COVID19 Impact on Electric Vehicle market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in Electric Vehicle market

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Key Players
Some of the major Electric Vehicle players holding high market share include Nissan Motor Company, Tesla Inc., Toyota Motor Corporation, Ford Motor Company. These players use partnership and expansion as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
• Nissan Motor Company
• Tesla Inc.
• Toyota Motor Corporation
• Ford Motor Company
• Volkswagen
• BMW
• General Motors
• Daimler AG
• BYD
• Energica Motor Company S.p.A

Segmental Analysis
Market Segment By Technology with focus on market share, consumption trend, and growth rate of Electric Vehicle Market:
o Battery Electric Vehicles (BEV)
o Hybrid Electric Vehicles (HEV)
o Plug-In Hybrid Electric Vehicles (PHEV)
o Fuel Cell Electric Vehicle (FCEV)

Market Segment By Charging Station Type with focus on market share, consumption trend, and growth rate of Electric Vehicle Market:
o Normal Charging
o Super Charging
o Wireless Charging

Market Segment By Vehicle Type with a focus on market share, consumption trend, and growth rate of Electric Vehicle Market:
o Two Wheelers
o Passenger Cars
o Commercial Vehicles

Market Segment By Vehicle Class with a focus on market share, consumption trend, and growth rate of Electric Vehicle Market:
o Mid-Priced
o Luxury

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Global Electric Vehicle Geographic Coverage:
• North America
o US
o Canada
o Mexico

• Europe
o UK
o Germany
o France
o Italy
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia Pacific

• Rest of the World
o South America
o Middle East & Africa

North America holds the larger share in the market owing to the better infrastructure facilities available in the region and high disposable income.

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