Press release
Electric Vehicle Market Valued USD 1122.03 Billion and Projected Grow at 12.5% CAGR by 2032
Electric Vehicle Market
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ ๐ซ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ:
https://www.polarismarketresearch.com/industry-analysis/electric-vehicles-ev-market/request-for-sample
The rising demand for environmentally safe alternatives and the introduction of favorable government policies are the major factors driving the electric vehicle market growth. By product analysis, the Plug-in Hybrid Electric Vehicles (PHEV) segment accounted for a considerable market share. By regional analysis, Asia Pacific is projected to grow at a rapid rate.
๐๐จ๐ฉ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
Some of the major players operating in the market have announced their strategic plans. It's anticipated that the actual investments are likely to be more significant for growing electrical vehicles worldwide. The top players in the electric vehicle market include:
โข BAIC Group
โข BMW
โข BYD
โข GAC Motors
โข Great Wall Motors
โข Hyundai Group
โข Jaguar
โข Mercedes
โข Nissan-Renault-Mitsubishi
โข SAIC Motors
โข Stellantis
โข Tesla
โข Toyota
โข Volkswagen Group
๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/buy/162/2
๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ฅ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:
๐๐ฒ ๐๐ซ๐จ๐๐ฎ๐๐ญ
โข Battery Electric Vehicles (BEV)
โข Plug-in Hybrid Electric Vehicles (PHEV)
๐๐ฒ ๐๐๐ก๐ข๐๐ฅ๐ ๐๐ฒ๐ฉ๐
โข Passenger
โข Heavy Commercial
โข Two-Wheelers
โข E-Scooters & Bikes
โข Light Commercial
๐๐๐ฒ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ:
โข The global market for electric vehicles was valued at USD 389.34 billion in 2023 and is projected to grow to USD 1122.03 billion by 2032.
โข The industry is anticipated to exhibit a CAGR of 12.5% during the forecast period from 2024 to 2032.
โข The market is primarily segmented based on product, vehicle type, power source, and region.
โข The major regions covered in the report include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Click here to Access the Full Report: https://www.polarismarketresearch.com/industry-analysis/electric-vehicles-ev-market
๐๐๐ซ๐ค๐๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:
An electric vehicle (EV) is a vehicle that makes use of single or multiple electric motors for propulsion. The motor of EVs draws electricity from a battery, which is capable of being charged by an external power supply. Electric vehicles include several components, with the key parts being a battery, charger port, DC/DC converter, electric traction motor, onboard charger, and power electronics controller. The electric traction motor draws power from the battery pack to drive the vehicle's wheels. The onboard charger has the function of taking the incoming AC electricity and converting it to DC power for charging the battery. The power electronics controller is responsible for managing the flow of electrical energy delivered by the traction battery. There are several types of EVs in the electric vehicle market, including passenger vehicles, heavy commercial vehicles, two-wheelers, and e-scooters & bikes.
๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ:
โข The rising emphasis on sustainable development has led to the development of alternative energy systems, thereby propelling the growth of the electric vehicle industry.
โข Electric vehicles transform over half of the electrical energy from the grid to propel the vehicle. This is significantly higher than the conversion of energy stored in gasoline in gas-powered motors. As such, it's a catalyzing factor for the global industry.
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
โข North America (U.S., Canada)
โข Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
โข Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
โข Latin America (Brazil, Mexico, Argentina)
โข Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
๐๐ข๐ฌ๐๐จ๐ฏ๐๐ซ ๐๐๐๐ข๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ฒ ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ข๐ง๐ ๐๐๐ฅ๐๐ญ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
๐๐ฅ๐๐๐ญ๐ซ๐ข๐ ๐๐จ๐ฐ๐๐ซ๐ญ๐ซ๐๐ข๐ง ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/electric-powertrain-market
๐๐๐ญ๐๐ซ๐ข๐๐ฅ ๐๐๐ง๐๐ฅ๐ข๐ง๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/material-handling-equipment-market
๐๐ข๐ง๐ข๐ง๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/mining-equipment-market
๐๐๐๐ซ๐ข๐ง๐ ๐ฌ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/bearings-market
๐๐ก๐ข๐ซ๐ ๐๐๐ซ๐ญ๐ฒ ๐๐จ๐ ๐ข๐ฌ๐ญ๐ข๐๐ฌ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/third-party-logistics-market
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ง๐๐จ:
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๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defence, among different ventures present globally.
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