Press release
Electric Vehicle Market Size to USD 628 Billion by 2029 | Current Trends and Industry Analysis
Electric Vehicle Market
Exactitude Consultancy research's "Electric Vehicle Market Forecast" study report focuses at sales and the overall global market for Electric Vehicle in 2022. The sales forecast for Electric Vehicle by region and market sector for the years 2023 through 2029 is then thoroughly analyzed. This study provides a comprehensive analysis of the global Electric Vehicle market, with sales of Electric Vehicle broken down by region, market sector, and sub-sector, in US$ million.
Based on market dynamics and development-promoting variables, the Electric Vehicle Market research assesses market valuation and growth rate. On the most recent business prospects, trends, and news in the sector. Along with a SWOT analysis of the major suppliers, the research also includes a thorough market study and vendor landscape.
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Market Overview:
Driver:
Lowering the cost of EV batteries to encourage demand for low-priced EVs.
Electric Vehicle Market: The cost of EV batteries has decreased over the last decade as a result of technological improvements and the mass production of EV batteries in enormous quantities. As EV batteries are one of the most expensive components of the car, this has resulted in a fall in the cost of electric vehicles. In 2010, the cost of an EV battery was around USD 1,100 per kWh.
Restriction:
Inadequate EV charging infrastructure
There are few electric vehicle charging facilities in various countries throughout the world. As a result, the availability of public EV charging for electric vehicles decreases, lowering adoption. Despite the fact that several countries are in the process of establishing EV charging infrastructure, most countries, with the exception of a few states, have not been able to install the needed number of EV charging stations. With a well-developed global EV charging network, demand for EVs is likely to rise.
competitive analysis
The research identifies the key establishes that will drive growth since demand is determined by a buyer's financial resources and the rate at which an item develops. Key companies and new entrants can gain insight into the spending reports of major market participants in this area, which will help them better appreciate the possibilities for investment in the global Electric Vehicle market. It can be used more effectively by both established and up-and-coming players in the market to gain a thorough understanding of the sector.
Major companies in Electric Vehicle Market are:
Volvo Cars, Toyota Motor Corporation, Protean Electric, Nissan Motor Corporation Ltd., Hyundai, Honda Motor Co., Ltd., Motors, Ford Motor Company, Daimler, Continental, BMW, Baic Motor, and ABB Ltd
Recent Developments:
In June 2023, PowerCo, a subsidiary of Volkswagen Group, has partnered with Koenig & Bauer to develop a revolutionary technology for battery cell production. The collaboration aims to create a roller press for powder coating electrodes on a large industrial scale, eliminating the need for wet-coating and subsequent drying processes.
In June 2023, Stellantis and Foxconn have announced the establishment of a joint venture called SiliconAuto. The 50/50 partnership aims to design and sell advanced semiconductors for the automotive industry, including Stellantis, starting in 2026.
In May 2023, BYD and Toyota have formed a strategic partnership to collaborate on the production and sale of electric vehicles (EVs). Toyota aims to leverage the expertise of the well-established local company, BYD, and benefit from their advanced battery technology in this joint venture.
Electric Vehicle Market Segmentation:
Electric Vehicles Market by Type, 2020-2029, (USD Million), (Thousand Units)
Battery Electric Vehicle
Plug-In Hybrid Electric Vehicle
Fuel Cell Electric Vehicle
Electric Vehicles Market by Vehicle Type, 2020-2029, (USD Million), (Thousand Units)
Two-Wheelers
Passenger Cars
Commercial Vehicles
Electric Vehicles Market by Vehicle Class, 2020-2029, (USD Million), (Thousand Units)
Mid-Priced
Luxury
Electric Vehicles Market by Top Speed, 2020-2029, (USD Million), (Thousand Units)
Less Than 100 Mph
100 To 125 Mph
More Than 125 Mph
Electric Vehicles Market by Application, 2020-2029, (USD Million), (Thousand Units)
Battery Systems
Ups Systems
Others
Electric Vehicles Market by Vehicle Drive Type, 2020-2029, (USD Million), (Thousand Units)
Front Wheel Drive
Rear Wheel Drive
All Wheel Drive
Electric Vehicles Market by Vehicle End Use, 2020-2029, (USD Million), (Thousand Units)
Personal Use
Commercial Use
Industrial Use
Electric Vehicles Market by Region, 2020-2029, (USD Million), (Thousand Units)
North America
Europe
Asia Pacific
South America
Middle East And Africa
Important Countries In All Regions Are Covered.
Our market analysts are professionals at carefully categorizing the global Electric Vehicle market into various categories and assessing each segment's growth potential in detail. The research study begins with a comparison of the segments' consumption and growth rates throughout a nine-year assessment period. The report's segmentation study, which considers the market potential of the various categories examined, provides an excellent understanding of the global Electric Vehicle market. Businesses can better understand their target market by segmenting it, which enables them to create marketing plans and products that are tailored to particular categories. Here are two typical methods for market segmentation: by kind and by application.
This report also splits the market by region:
The United States, Canada, and Mexico make up North America, while Germany, France, the United Kingdom, the Netherlands, Switzerland, Belgium, Russia, Italy, Spain, and Turkey make up Europe. Other countries covered in the report include China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, and the rest of Asia-Pacific (APAC). Saudi Arabia, the United Arab Emirates, Israel, Egypt, South Africa, and the rest of the Middle East and Africa (MEA) are also included.
The overall part of the research also lists specific market-impacting variables and domestic market regulation changes that have an effect on the market's present and future tendencies. Some of the key data points used to estimate the market situation for specific nations are consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, and upstream and downstream value chain analysis. When giving prediction analysis of the country data, it also takes into account the presence and accessibility of international brands, the difficulties they encounter owing to strong or weak competition from local and domestic brands, the influence of domestic tariffs, and trade routes.
Strategic Points Covered in Table of Content of Global Electric Vehicle Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Electric Vehicle market
Chapter 2: Exclusive Summary - the basic information of the Electric Vehicle Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Electric Vehicle
Chapter 4: Presenting the Electric Vehicle Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country
Chapter 6: Evaluating the leading manufacturers of the Electric Vehicle market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source
Browse a Detailed Summary of the Research Report @ https://exactitudeconsultancy.com/reports/3382/electric-vehicle-market/#request-a-sample
Thank you for reading it all the way to this point.
Automotive trending reports:
https://www.benzinga.com/pressreleases/23/07/33280398/automotive-haptic-technology-market-future-prospect-and-industry-research-2022-2029
https://www.benzinga.com/pressreleases/23/07/33280396/shipping-container-market-report-2022-2029-current-and-future-patterns-2029
https://www.benzinga.com/pressreleases/23/07/33280397/robotaxi-market-current-trends-and-industry-analysis-2029
https://www.benzinga.com/pressreleases/23/07/33280381/in-wheel-motors-market-key-trends-driving-growth-in-the-2029
https://www.benzinga.com/pressreleases/23/07/33280387/luxury-cars-market-research-2029-ab-volvo-aston-martin-lagonda-global-holding-plc
Connect Us:
PHONE NUMBER +1 (704) 266-3234
EMAIL ADDRESS: sales@exactitudeconsultancy.com
About Us
Exactitude Consultancy is a Market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our professional team works hard to fetch the most authentic research reports backed with impeccable data figures which guarantee outstanding results every time for you. So, whether it is the latest report from the researchers or a custom requirement, our team is here to help you in the best possible way.
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