Electric Vehicles (EVs) Market Latest Trends, Business Opportunity and Scope 2021 to 2027: Nissan, Volkswagen, Renault, JAC, TOYOTA, Mitsubishi, BMW, Hyundai and Kia

Electric Vehicles (EVs) Market 2021 report helps the clients to take business decisions and to understand strategies of major players in the industry. The report also calls for market- driven results deriving feasibility studies for client needs. Market Insights Reports ensures qualified and verifiable aspects of market data operating in the real- time scenario. The analytical studies are conducted ensuring client needs with a thorough understanding of market capacities in the real- time scenario.

The Electric Vehicle Market was valued at USD 5 billion in 2020, and it is expected to reach USD 47 billion by 2026, registering a CAGR of above 44% during the forecast period (2021-2026).

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Top Companies in the Global Electric Vehicles (EVs) Market: Tesla, BYD, SAIC, BAIC, BMW, Hyundai & Kia, GEELY, Nissan, Volkswagen, Renault, JAC, TOYOTA, Mitsubishi, Chery, VOLVO, GAC Motor, Great Wall Motors, DongFeng Motor and others.

Recent Developments:

In August 2021, Tata Motors has expanded its EV portfolio by unveiling the new Tata Tigor EV. The new Tigor EV gets a host of design updates and Ziptron technology and ensures better performance compared to the outgoing model.

In July 2021, Olectra Greentech announced that along with its sister company Evey Trans Pvt Ltd, it has won the bid for 100 electric buses. The consortium of both the companies has won the bid to supply 100 electric buses to a State Transport Corporation (STC) in the country under the Government of India’s FAME-II scheme, on OPEX model basis for 12 years. These 100 electric buses are going to be used for inter-city operations.

In February 2021, Ather Energy, India’s first intelligence EV manufacturer, moved its USD 86.5 million factory from Bengaluru (Karnataka) to Hosur (Tamil Nadu) to increase its two-wheeler production capacity.

In February 2020, JBM Auto launched two electric buses Eco-Life e9 and e12 electric buses at the Auto Expo 2020. Powered by fast-charging lithium batteries, buses can run 125-150 km in a single charge, depending on the city’s traffic conditions.

In January 2020, the Department of Heavy Industries (DHI) of India approved 2,636 electric vehicle charging stations in 62 cities across 24 Indian states and union territories (UTs) under the second phase of the FAME program to promote e-mobility.

Market Overview:

An electric vehicle operates on electricity unlike its counterpart, which runs on fuel. Instead of internal combustion engine, these vehicles run on an electric motor that requires constant supply of energy from batteries. There are a variety of batteries used in these vehicles. These include lithium ion, molten salt, zinc-air, and various nickel-based designs. Electric vehicles was primarily designed to replace conventional ways of travel as they lead to environmental pollution. Electric vehicles have gained popularity owing to numerous technological advancements. The electric vehicle outperforms the conventional vehicle providing higher fuel economy, low carbon emission & maintenance, convenience of charging at home, smoother drive, and reduced sound from engine. There are three types of electric vehicles-battery, hybrid, and plug-in hybrid electric vehicles.

Regional Analysis:

Asia-Pacific was the highest revenue contributor, accounting for $84.84 billion in 2019, and is estimated to reach $357.81 billion by 2027, with a CAGR of 20.1%. North America is estimated to reach $194.20 billion by 2027, at a significant CAGR of 27.5%. Asia-Pacific and Europe collectively accounted for around 74.8% share in 2019, with the former constituting around 52.3% share. North America and Europe are expected to witness considerable CAGRs of 27.5% and 25.3%, respectively, during the forecast period. The cumulative share of these two segments was 40.1% in 2019, and is anticipated to reach 51.0% by 2027.

Market Segmented by Types:

BEV

PHEV

Market Segmented by Applications:

Home Use

Commercial Use

Regional Analysis:

– North America (United States, Canada, Mexico)

–Europe (Germany, UK, France, Italy, Spain, Russia)

–Asia-Pacific (China, Japan, South Korea, Australia, India)

–South America (Brazil, Argentina, Columbia)

–The Middle East and Africa (UAE, Egypt, South Africa)

Influence of the Electric Vehicles (EVs) market report:

-Comprehensive assessment of all opportunities and risk in the Electric Vehicles (EVs) market.

-Electric Vehicles (EVs) market recent innovations and major events.

-Detailed study of business strategies for growth of the Electric Vehicles (EVs) market-leading players.

-Conclusive study about the growth plot of Electric Vehicles (EVs) market for forthcoming years.

-In-depth understanding of Electric Vehicles (EVs) market-particular drivers, constraints and major micro markets.

-Favorable impression inside vital technological and market latest trends striking the Electric Vehicles (EVs) market.

Browse full report including (TOC, Company profiles, Types & Applications etc.) @:

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Important Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of Market

– Changing market dynamics of the industry

– In-depth market segmentation by Type, Application etc.

– Historical, current and projected market size in terms of volume and value

– Recent industry trends and developments

– Competitive landscape of Market

– Strategies of key players and product offerings

– Potential and niche segments/regions exhibiting promising growth

Finally, Electric Vehicles (EVs) Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.

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