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Electric Mobility Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Volkswagen AG, Toyota Motor Corporation, Mercedes-Benz Group AG, Ford Motor Company, General Motors Company, Bayerische Motoren Werke AG, Honda Motor
Electric Mobility Market Size
The Business Research Company offers in-depth market insights through Electric Mobility Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The electric mobility market size has grown exponentially in recent years. It will grow from $318.03 billion in 2023 to $402.05 billion in 2024 at a compound annual growth rate (CAGR) of 26.4%. The growth in the historic period can be attributed to advancements in magnetic materials, consumer electronics boom, automotive electrification, energy-efficient appliances, medical imaging devices.
The electric mobility market size is expected to see exponential growth in the next few years. It will grow to $954.97 billion in 2028 at a compound annual growth rate (CAGR) of 24.1%. The growth in the forecast period can be attributed to electric vehicle (ev) market growth, iot and smart home devices, advancements in magnet manufacturing techniques, quantum computing development, miniaturization of electronic devices. Major trends in the forecast period include renewable energy technologies, miniaturization and high performance, magnetization techniques for efficiency, magnetic resonance wireless charging, sustainability and recycling.
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Market Segmentation:
The main product types of electric mobility are electric bikes, electric scooters, electric motorized scooters, and electric motorcycles. Electric bikes, often referred to as e-bikes, are bicycles equipped with an integrated electric motor and battery that assist the rider's pedaling efforts. The various types of drives include belt drive, chain drive, and hub drive with various battery types that include lead acid battery, li-ion battery, and others. These are used by various end-users such as personal, and commercial.
Major Driver - Electric Vehicles Sparking a Green Revolution in Electric Mobility
The increasing demand for electric vehicles is expected to propel the growth of the electric mobility market going forward. Electric vehicles (EVs) are automobiles that are powered primarily or entirely by electricity stored in rechargeable batteries. Electric vehicles significantly reduce greenhouse gas emissions, air pollution, and dependence on fossil fuels, contributing to a more sustainable and environmentally friendly transportation system that supports electric mobility. For instance, in September 2022, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, sales of electric vehicles nearly doubled to 6.6 million in 2021 from 3 million in 2020, representing almost 9% of total sales, and increased by 4 percentage points in 2021 as well, bringing the total number of electric vehicles on the road to 16.5 million. Therefore, the increasing demand for electric vehicles is driving the growth of the electric mobility market.
Competitive Landscape:
Major companies operating in the electric mobility market report are Volkswagen AG, Toyota Motor Corporation, Mercedes-Benz Group AG, Ford Motor Company, General Motors Company, Bayerische Motoren Werke AG, Honda Motor Co. Ltd., SAIC Motor Corp. Ltd., Robert Bosch GmbH, Hyundai Motor Company, Hitachi Ltd., Tesla Inc., Siemens AG, Nissan Motor Co. Ltd., Panasonic Corporation, BYD Company Ltd., AB Volvo, Renault Group, Contemporary Ampere*x Technology Co. Limited, ZF Friedrichshafen AG, Continental AG, Tata Motors Limited, Magna International Inc., Denso Corporation, Mitsubishi Electric Corporation, ABB Ltd., Beijing Automotive Group Co. Ltd., Valeo SA, LG Energy Solution Ltd., BorgWarner Inc.
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Top Trend - Innovative Advancements In Integrated E-Powertrain Systems by Leading Electric Mobility Companies
Major companies operating in the electric mobility market are focused on advancements in electric mobility to gain a competitive edge in the market. An integrated E-powertrain system is a comprehensive, unified electric powertrain that combines the motor, power electronics, and energy storage components to propel an electric vehicle efficiently. For instance, in May 2023, ZF Friedrichshafen AG, a Germany-based technology company, launched AXTrax 2, a modular, integrated, axle-based e-powertrain system that enables the electrification of all types of commercial vehicles. It makes it possible for advanced digital and telematics systems to communicate and exchange data about e-axle systems through the controller area network bus. The AxTrax 2 is an axle-based system that replaces the engine, transmission, driveshaft, differential, and conventional axle to electrify a commercial vehicle. This design helps to maximize the available space for batteries and enhances the manufacturer's design flexibility for future electric mobility concepts.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Electric Mobility Market Characteristics
3. Electric Mobility Market Trends And Strategies
4. Electric Mobility Market - Macro Economic Scenario
5. Electric Mobility Market Size And Growth
…..
27. Electric Mobility Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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