EV and PHEV Market Key Players Analysis, Size, Share, Demands, Trends, Growth rate and Forecasts to 2029

The EV and PHEV market was valued at US$ 299,974.2 million in 2022 and is projected to reach US$ 1,565,870.4 million by 2029, at a CAGR of 25.64% during the forecast period (2023-2029)
The US & Canada market for EV and PHEV is estimated to increase from $ 65,003.8 million in 2023 to reach $ 307,080.5 million by 2029, at a CAGR of 29.53% during the forecast period of 2023 through 2029.

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The China market for EV and PHEV is estimated to increase from $ 204,590 million in 2023 to reach $ 605,351.7 million by 2029, at a CAGR of 19.82% during the forecast period of 2023 through 2029.

The Europe market for EV and PHEV is estimated to increase from $ 109,725.5 million in 2023 to reach $ 489,522.5 million by 2029, at a CAGR of 28.31% during the forecast period of 2023 through 2029.

The global key manufacturers of EV and PHEV include Tesla, BYD, Volkswagen, BMW, Mercedes-Benz, Stellantis, SAIC, VOLVO, and Hyundai & Kia, etc. In 2022, the global top five players had a share approximately 58.21% in terms of revenue.
In terms of production side, this report researches the EV and PHEV production, growth rate, market share by manufacturers and by region (region level and country level), from 2018 to 2023, and forecast to 2029.

In terms of consumption side, this report focuses on the sales of EV and PHEV by region (region level and country level), by company, by Type and by Application. from 2018 to 2023 and forecast to 2029.

By Company-
- Tesla
- BYD
- Volkswagen
- BMW
- Mercedes-Benz
- Stellantis
- SAIC
- VOLVO
- Hyundai & Kia
- Renault
- GEELY
- GAC Motor
- NIO
- ONE
- Ford
- XPeng
- Chery
- JAC
- NETA Auto
- TOYOTA
- Leapmotor
- Great Wall Motors
- Nissan

Segment by Type
- BEV
- PHEV

Segment by Application
- Home Use
- Commercial Use

The EV (Electric Vehicle) and PHEV (Plug-in Hybrid Electric Vehicle) market have been growing rapidly in recent years due to increased awareness of the need for sustainable transportation and the availability of more affordable and efficient electric vehicles.

Several factors are driving the growth of the EV and PHEV market, including government incentives, advances in battery technology, and increased consumer awareness of the benefits of electric vehicles. In addition, many countries are setting ambitious targets to reduce carbon emissions and promote the use of electric vehicles as part of their efforts to combat climate change.

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However, there are still some challenges to widespread adoption of EVs and PHEVs, including the availability of charging infrastructure, the cost of batteries, and concerns about the range and reliability of electric vehicles. As technology continues to improve and prices continue to fall, however, it is likely that the EV and PHEV market will continue to grow in the coming years.

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This release was published on openPR.