Press release
Meticulous Research® Publishes Report on Global Electric Vehicle Market, Forecasting Robust Growth Through 2031
Meticulous Research®, a renowned leader in global market research, has released its latest report, titled Electric Vehicle (EV) Market by Vehicle Type, Propulsion Type, End Use, Power Output, Charging Standard, and Geography - Forecast to 2031. According to the report, the global electric vehicle (EV) market is expected to experience significant growth, reaching $6,916.43 billion by 2031, with a compound annual growth rate (CAGR) of 28.0% from 2024 to 2031. In terms of volume, the market is projected to reach 446.54 million units by 2031, at a CAGR of 20.5%.Market Drivers and Opportunities
The market growth is driven by a variety of factors, including supportive government policies, growing investments from leading automotive manufacturers, rising environmental awareness, and decreasing battery costs. Increasing consumer interest in sustainable transportation solutions and the adoption of autonomous EVs are further propelling the market forward. Emerging economies are also placing a greater emphasis on electric mobility, presenting substantial opportunities for industry stakeholders.
Download Sample Report Here: https://www.meticulousresearch.com/download-sample-report/cp_id=5179
However, certain challenges could temper this growth. High upfront costs of EVs and insufficient charging infrastructure, particularly in developing regions, remain obstacles. Additionally, concerns around range limitations and reduced EV performance in cold climates pose challenges. Despite these hurdles, trends such as shared mobility, smart EV charging, and innovations in wireless and solar-powered EV charging stations are shaping the future of the global electric vehicle market.
In-Depth Market Segmentation
The report provides a detailed analysis of the EV market, segmented by vehicle type, propulsion type, power output, end use, and geography:
• By Vehicle Type: The passenger vehicle segment is anticipated to dominate the market in 2024, driven by government incentives, heightened environmental awareness, and rising fuel prices. Major automotive manufacturers are actively engaged in producing electric passenger vehicles to meet the growing demand.
• By Power Output: The less-than-100 kW segment is expected to capture the largest market share, primarily due to the increasing popularity of electric scooters and mopeds, along with supportive government policies and incentives for EV infrastructure.
Check complete table of contents with list of table and figures: https://www.meticulousresearch.com/product/electric-vehicle-market-5179
• By Propulsion Type: Battery electric vehicles (BEVs) are set to lead the propulsion type segment, driven by stringent emission standards, demand for high fuel efficiency, and a growing preference for zero-emission vehicles.
• By End Use: Private EVs will likely account for the largest share of the market due to consumer awareness of environmental concerns, stringent emission regulations, and incentives for EV purchase and usage.
• By Geography: The Asia-Pacific region is forecasted to be the largest regional market for EVs in 2024, with China, Japan, and South Korea providing robust government support in the form of subsidies, tax incentives, and regulatory measures aimed at reducing emissions and air pollution.
Quick Buy: https://www.meticulousresearch.com/Checkout/58539564
Key Industry Players
The report profiles major players operating in the global EV market, including Tesla, Inc. (U.S.), BMW AG (Germany), BYD Company Ltd. (China), Volkswagen AG (Germany), Hyundai Motor Company (South Korea), Volvo Group (Sweden), Mercedes-Benz Group AG (Germany), Ford Motor Company (U.S.), and others. The competitive analysis highlights recent developments, market shares, and strategic initiatives undertaken by these companies to maintain their market position.
Report Insights and Sample Download
The comprehensive report answers critical questions, such as high-growth market segments, historical and forecasted market sizes, competitive landscape, key geographic trends, and the strategies of major industry players.
For a deeper analysis of the global electric vehicle market, download a free sample of the report here: https://www.meticulousresearch.com/download-sample-report/cp_id=5179
Related Reports :
Europe Electric Vehicle Market -
https://www.meticulousresearch.com/product/europe-electric-vehicle-market-5227
Asia-Pacific Electric Vehicle Market -https://www.meticulousresearch.com/product/asia-pacific-electric-vehicle-market-5236
Special Purpose Electric Vehicle Market-https://www.meticulousresearch.com/product/special-purpose-electric-vehicle-market-5291
North America Electric Vehicle Market -https://www.meticulousresearch.com/product/north-america-electric-vehicle-market-5229
Contact:
Mr. Khushal Bombe
Meticulous Market Research Pvt. Ltd.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Contact:
Mr. Khushal Bombe
Meticulous Market Research Pvt. Ltd.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
We are the trusted research partners for leading businesses around the world, providing market intelligence focused towards building revenue transformation strategies. Our research is used by Fortune 500 organizations to attain success by scouting next generation revenue opportunities well ahead of their competition.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Meticulous Research® Publishes Report on Global Electric Vehicle Market, Forecasting Robust Growth Through 2031 here
News-ID: 3715698 • Views: …
More Releases from Meticulous Research®
The Body as Data: How Medical Sensors Are Powering the Future of Connected Healt …
The global medical sensors market is expanding steadily as healthcare systems around the world shift toward continuous monitoring, connected care, and earlier intervention. Valued at USD 6.34 billion in 2025, the market is projected to grow from USD 6.77 billion in 2026 to approximately USD 15.5 billion by 2036, at a compound annual growth rate of 8.6%. While that pace is more measured than some of the faster-moving technology markets,…
Biology Meets Intelligence: How AI is Reinventing the Science of Healing
The global AI in biotechnology market is growing at a pace that reflects just how fundamentally artificial intelligence is changing the way we understand and treat disease. The market was valued at USD 5.35 billion in 2025 and is on course to reach USD 6.41 billion in 2026 before climbing to approximately USD 46.1 billion by 2036 - a compound annual growth rate of 21.8%. That's nearly a ninefold increase…
The New Space Race: How LEO Satellites Are Rewriting the Rules of Global Connect …
The global Low Earth Orbit (LEO) satellite market is on a trajectory that would have seemed extraordinary just a decade ago. Valued at USD 16.2 billion in 2025, the market is expected to reach USD 17.8 billion in 2026 and climb to approximately USD 58.8 billion by 2036, growing at a rate of 12.7% per year. That's not just growth - it's a fundamental reshaping of how the world communicates,…
Seeing What Doctors Can't: How Computer Vision is Transforming Healthcare
The global computer vision in healthcare market is growing at a pace that few industries ever see. What was a USD 3.63 billion market in 2025 is expected to reach USD 4.37 billion in 2026 and balloon to roughly USD 33.4 billion by 2036-a compound annual growth rate of 22.6%. To put that in perspective, the market is on track to nearly ten times its current size within a decade.…
More Releases for Vehicle
Transformative Trends Impacting the Vehicle-to-Vehicle (V2V) Communication Marke …
Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations.
How Large Will the Vehicle-to-Vehicle (V2V) Communication Market Size By 2025?
The size of the vehicle-to-vehicle (V2V) communication market has seen significant expansion in the most recent years. The market is projected to surge from $24.28 billion in 2024 to $27.1 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 11.6%. The…
Electric Vehicle Motor Market : Battery Electric Vehicle, Plugin Hybrid Vehicle, …
According to the report published by Allied Market Research, the global electric vehicle motor market generated $5.5 billion in 2021, and is estimated to reach $34.4 billion by 2031, witnessing a CAGR of 20.3% from 2022 to 2031.
Asia-Pacific is expected to dominate the global electric vehicle motor market. An increase in vehicle population and a rise in vehicle standards fuel the growth of the Asia-Pacific market. Moreover, various technological…
Truck Platooning Market : Vehicle-to-infrastructure (V2I), Vehicle-to-vehicle (V …
According to a recent report published by Allied Market Research, titled,"Truck Platooning Market by Technology, Platooning Type, and Communication Technology: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global truck platooning market size was valued at $500.9 million in 2017, and is projected to reach $4,590.3 million by 2025, registering a CAGR of 32.4% from 2018 to 2025.
To Explore More, Download Sample Report: https://www.alliedmarketresearch.com/request-sample/5245
Global truck platooning market is segmented…
Electric Vehicle Motor Market : Battery Electric Vehicle, Plugin Hybrid Vehicle, …
According to a new report published by Allied Market Research, titled, "Electric Vehicle Motor Market," The global electric vehicle motor market was valued at $5.5 billion in 2021, and is projected to reach $34.4 billion by 2031, growing at a CAGR of 20.3% from 2022 to 2031.
Asia-Pacific is expected to dominate the global electric vehicle motor market. An increase in vehicle population and a rise in vehicle standards fuel the…
Electric Vehicle Power Inverter Market : Hybrid Vehicle, Plug in Hybrid Vehicle, …
The electric vehicle power inverter market was valued at $8.67 billion in 2021, and is estimated to reach $22.25 billion by 2031, growing at a CAGR of 10.4% from 2022 to 2031.
Download Sample Report at https://www.alliedmarketresearch.com/request-sample/9122
Factors that drive the growth of the electric vehicle power inverter market are increase in demand for electric vehicles, proactive government initiatives for the development of electric vehicle, and surge in demand for low-emission and…
Truck Platooning Market : Vehicle-to-infrastructure (V2I), Vehicle-to-vehicle (V …
The global truck platooning market size was valued at $500.9 million in 2017 and is projected to reach $4590.3 million by 2025, registering a CAGR of 32.4% from 2018 to 2025 by Technology (Adaptive Cruise Control (ACC), Blind Spot Warning (BSW), Global Positioning System (GPS), Forward Collision Warning (FCW), Lane Keep Assist (LKA), and Others), Platooning type (Driver-Assistive Tuck Platooning (DATP) and Autonomous Truck Platooning), and Communication Technology (Vehicle-to-infrastructure (V2I),…
