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Top Factor Driving Electric Mobility Market Growth in 2025: Electric Vehicles Sparking a Green Revolution in Electric Mobility
Top Factor Driving Electric Mobility
The electric mobility market will grow from $402.05 billion in 2024 to $507.26 billion in 2025, at a CAGR of 26.2%. The growth is supported by advancements in magnetic materials, the consumer electronics boom, automotive electrification, energy-efficient appliances, and medical imaging devices.
The electric mobility market is forecasted to grow to $1182.45 billion by 2029 at a CAGR of 23.6%, driven by the growth of electric vehicles (EVs), IoT, smart homes, and advancements in technology. Key trends include renewable energy technologies, miniaturization, and wireless charging innovations.
What Are the Primary Growth Drivers for the Electric Mobility Market?
The increasing demand for electric vehicles (EVs) is expected to drive the growth of the electric mobility market. EVs contribute to reducing greenhouse gas emissions and air pollution, aligning with the transition to sustainable transportation. In April 2024, the UK achieved 1 million fully electric vehicles, with a 40% rise in battery-electric car registrations from 2022. By 2030, 2.3 million charging points are projected to be needed in the UK alone to support the expanding electric vehicle fleet. This surge in EV adoption is fueling the growth of the electric mobility market.
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Who Are the Dominant Companies Influencing Electric Mobility Market Trends?
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.
What Are the Different Segmentations in the Electric Mobility Market?
The electric mobility market covered in this report is segmented -
1) By Product: Electric Bikes, Electric Scooters, Electric Motorized Scooters, Electric Motorcycles
2) By Drive: Belt Drive, Chain Drive, Hub Drive
3) By Battery: Lead Acid Battery, Li-Ion Battery, Other Batteries
4) By End-User: Personal, Commercial
Subsegments:
1) By Electric Bikes: Pedal-Assist Electric Bikes, Throttle-Control Electric Bikes
2) By Electric Scooters: Stand-Up Electric Scooters, Sit-Down Electric Scooters
3) By Electric Motorized Scooters: Folding Electric Scooters, Off-Road Electric Scooters
4) By Electric Motorcycles: City Electric Motorcycles, Sports Electric Motorcycles
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Which Region Is at the Forefront of the Electric Mobility Market?
Asia-Pacific was the largest region in the electric mobility market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the electric mobility market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Electric Mobility Global Market Report?
- Market Size Analysis: Analyze the Electric Mobility Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Electric Mobility Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Electric Mobility Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Electric Mobility Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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