Press release
Electric Car Market Top Key Players- BYD, JAC, Geely, Chery, Roewe(SAIC), BMW, Tesla Motors, VW Group, Renault- Nissan- Mitsubishi Alliance, Hyundai-KIA Motors, Robert Bosch GmBH, Continental AG, Magna International, CATL, Panasonic Corporation
• The plugged-in electric vehicle market penetration will be ~5.5% in 2021 and by 2026 it could go past 12%.
• The electric car sales were earlier (till 2015) driven by vehicle electrification of ICE based platforms by but now as more than 80 OEMs have launched 300+ electric cars.
• Share of plugged-in electric cars (BEVs+ PHEVs) has now grown to ~52% of all electric car sales.
• Tesla, Volkswagen, BYD, SGMW and BMW were the market leaders in 2020 holding cumulatively 39% of the plugged-in market in 2020.
• Toyota remains the market leader for non-plugged-in electric vehicles with 70% of the market share of hybrid vehicles.
• The market is set to grow from 2021-2026 continuing the growth it showcased even with Covid with Europe and China being the target markets and USA right on their tails.
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ELECTRIC CAR MARKET DYNAMICS
Technological advances in the electric vehicle sector, such as the development of large-scale production of batteries for electric vehicles and the falling cost of these batteries, have encouraged people to invest more in this sector.
This has led to a reduction in the overall cost of EVs as batteries are the most expensive part in EVs. Electric vehicle battery prices are expected to fall by about $60 per kilowatt-hour by 2030, lowering the cost of electric vehicles and making them more affordable and accessible to the general public.
Sales of electric vehicles in Europe grew significantly in the second quarter of 2021, with registrations of new plug-in EV vehicles rising 157% over last year to 237,934 units. By 2021, more than 1 million plug-in electric vehicles will be registered in Europe, accounting for 16% of the total market, of which 7.6% are electric vehicles.
Electric vehicle sales are expected to grow 15%-20% in 2021 from 43% in 2020. The electric vehicle market has grown mainly in Europe and China even after the corona virus.
Both regions benefited from government subsidies that helped them grow and avoid a decline in sales early in 2020.
ELECTRIC CAR MARKET COMPETITIVE LANDSCAPE
Automakers are investing huge amounts of money to meet the growing demand for electric vehicles.
OEMs are starting to offer electric vehicles in a variety of segments, from luxury sedans like the Tesla Model 3 to hatchbacks like the Nissan Leaf.
Tesla Inc.'s quarterly earnings exceeded $1 billion for the first time in April-June 2021, a major milestone. Revenues were $1.02 per share, nearly doubling from last year to about $12 billion.
It currently boasts a market value of approximately $630 billion, higher than any other automaker. His Model Y LR went on sale for new car registration in the third quarter of 2021.
BYD reports that more than 40,000 plug-in electric vehicles were delivered from China in June 2021, a record for the automotive sector. This is a 207% increase from a year ago, and plug-in vehicles accounted for about 81% of BYD's total sales.
ELECTRIC CAR MARKET COMPANY PROFILES
• BYD
• JAC
• Geely
• Chery
• Roewe(SAIC)
• BMW
• Tesla Motors
• VW Group
• Renault- Nissan- Mitsubishi Alliance
• Hyundai-KIA Motors
• Robert Bosch GmBH
• Continental AG
• Magna International
• CATL
• Panasonic Corporation
Read More Information: https://mobilityforesights.com/product/electric-car-market/
Related Links
US Electric Car Market : https://mobilityforesights.com/product/us-electric-car-market/
Electric Golf Cart Market : https://mobilityforesights.com/product/electric-golf-cart-market/
Electric Bus Market : https://mobilityforesights.com/product/electric-bus-market/
Electric Pickup Truck Market : https://mobilityforesights.com/product/electric-pickup-truck-market/
Electric Motorcycle Market : https://mobilityforesights.com/product/electric-motorcycle-market/
Electric Scooters Market : https://mobilityforesights.com/product/electric-scooters-market/
Europe Electric Vehicle Market : https://mobilityforesights.com/product/europe-electric-vehicle-market/
Europe Electric Scooter Market : https://mobilityforesights.com/product/europe-electric-scooter-market/
Europe Electric Commercial Vehicle Market : https://mobilityforesights.com/product/europe-electric-commercial-vehicle-market/
Germany Electric Vehicle Market : https://mobilityforesights.com/product/germany-electric-vehicle-market/
India Electric Vehicle Market : https://mobilityforesights.com/product/india-electric-vehicle-market/
Hydrogen Fuel Cell Vehicle Market : https://mobilityforesights.com/product/hydrogen-fuel-cell-vehicle-market/
Electric Vehicle Battery Market : https://mobilityforesights.com/product/global-electric-vehicle-battery-market/
EV Traction Motor Market : https://mobilityforesights.com/product/ev-traction-motor-market/
Electric Coolant Pump Market : https://mobilityforesights.com/product/electric-coolant-pump-market/
EV Lighting Market : https://mobilityforesights.com/product/ev-lighting-market/
Electric Vehicle Tire Market : https://mobilityforesights.com/product/electric-vehicle-tire-market/
Electric Bus Battery Market : https://mobilityforesights.com/product/electric-bus-battery-market/
E Bike Drive Market : https://mobilityforesights.com/product/e-bike-drive-market/
Bicycle Market : https://mobilityforesights.com/product/bicycle-market/
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We are among the very few market research firms globally, specialized in mobility domain(s). Our zone of research entails automotive, aerospace, marine, locomotive, logistics and construction & agricultural equipment. We deal in syndicated research, custom research and consumer research for all the above domains mentioned.
We envision the future of mobility every single day, following mobility domains is not just our profession rather it’s our passion. We are here, just to serve you in the most ideal way and your fulfillment is above everything else.
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