Electric Mobility Market : Future Demand by Forecast to 2028
The Electric Mobility Market is expected to grow at a significant growth rate over the forecast period 2022-2028, considering the base year as 2021.
The global auto industry is experiencing a once-in-a-century revolution. The rapidly changing EV economy and burgeoning automotive electrification are driving EV sales exponentially. In addition, the strengthening of the electric vehicle charging service network and the development of infrastructure are driving the growth of the electric mobility market. For example, 2020 is a record year for electric mobility. According to the International Energy Agency (IEA), by 2020, total global sales of electric vehicles will exceed 3 million units worldwide. Sales growth was mainly driven by government initiatives to provide subsidies and tax benefits on electric vehicle purchases.
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Growing Demand for Emission-Free Vehicles to Drive Market Growth
Governments around the world enforce strict emissions standards to reduce carbon emissions and combat climate change. In addition, they offer different disposal policies for conventional or fossil fuel vehicles. Thus, due to the growing insecurity regarding the future adoption and use of conventional or fossil fuel-powered vehicles, consumer preferences are shifting towards electric vehicles, which is expected to drive market growth during the forecast period.
The significant increase in greenhouse gas (GHG) emissions as well as carbon emissions of the transport sector, especially the automotive sector, has encouraged various regulatory authorities in a number of countries to adopt and apply policies and legislation that support the adoption of fuel-efficient vehicles. Furthermore, the increasing adoption of mobility as a service (MaaS) coupled with the continued decline in Li-ion battery prices are driving the growth of the electric mobility market over the next few years.
However, with the sudden outbreak of the coronavirus in 2020, several industries have seen a drop-in sales globally as electric vehicles show significant growth. This is mainly due to the trend of an increasingly alienated society as well as the growing concern for environmental protection.
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By Product Type
• Electric Bicycle
• Electric Car
• Electric Motorcycle
• Electric Scooter
By Battery Type
• Sealed Lead Acid
By Voltage Type
• Less than 24V
• Greater than 48V
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• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
• Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of South America)
Major Key Players Considered in the Market
• Vmoto Limited ABN (Australia)
• Tesla (US)
• Terra Motors (Japan)
• Continental AG (Germany)
• ALTA MOTORS (USA)
• Accell Group (Netherlands)
• Nissan Motor Corporation (Japan)
• Zero Motorcycles Inc. (US)
• Kinetic Green Energy & Power Solutions Ltd. (India) and other major players.
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Objectives of the global Electric Mobility market
1. To identify the main subsegments of the Electric Mobility market to comprehend its structure.
2. Identifies describes, and analyses the sales volume, value, market share, competitive market landscape, opportunities and threats, and strategic initiatives for the main worldwide Electric Mobility manufacturers for the next few years.
3. To examine Electric Mobility in terms of specific expected growth, career outlook, and market share contribution.
4. Analyse commercial developments in the market, such as market expansions, partnerships, new product development, and mergers.
5. To develop a strategic analysis of the main players and a thorough analysis of their strategic planning.
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