Press release
Electric Cars Market Size Forecasted To Achieve $1677.4 Billion By 2029 With Steady Growth
Electric Cars
_x000D_
What Is the Electric Cars Market Size and Projected Growth Rate?_x000D_
The electric cars market has undergone exponential growth, with its value expected to rise from $474.31 billion in 2024 to $619.37 billion in 2025 at a CAGR of 30.6%, historically driven by environmental awareness, government support, demand for fuel efficiency, and rising popularity of hybrid and automated systems._x000D_
_x000D_
The electric cars market is forecasted to grow exponentially, reaching $1677.4 billion in 2029, with a CAGR of 28.3%. This growth is driven by advancements in battery technology, stricter emissions regulations, expanded infrastructure, the rise of autonomous electric vehicles, and increasing demand for connected cars. Trends include improvements in driving range, electrification across various segments, enhanced charging convenience, the integration of smart technology, and the use of sustainable materials._x000D_
_x000D_
Purchase the full report for exclusive industry analysis:_x000D_
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=3112_x000D_
_x000D_
What Are the Major Segments in the Electric Cars Market?_x000D_
The electric cars market covered in this report is segmented -_x000D_
_x000D_
1) By Type: Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV)_x000D_
2) By Battery Type: Lithium-Iron-Phosphate (LFP), Lithium-Nickel-Manganese Cobalt Oxide (Li-NMC), Lithium-Titanate Oxide (LTO) Battery, Lithium-Nickel-Cobalt-Aluminum Oxide (NCA) Battery, Nickel-Metal Hydride (NiMH) Battery, Lead Scid Battery_x000D_
3) By Application: Home Use, Commercial Use_x000D_
_x000D_
Subsegments:_x000D_
1) By Battery Electric Vehicle (BEV): Compact BEVs, Mid-Size BEVs, Full-Size BEVs, Luxury BEVs_x000D_
2) By Plug-In Hybrid Electric Vehicle (PHEV): Compact PHEVs, Mid-Size PHEVs, Full-Size PHEVs, Luxury PHEVs_x000D_
3) By Hybrid Electric Vehicle (HEV): Full Hybrid Electric Vehicles (FHEV), Mild Hybrid Electric Vehicles (MHEV)_x000D_
_x000D_
Get your free sample here:_x000D_
https://www.thebusinessresearchcompany.com/sample.aspx?id=3112&type=smp_x000D_
_x000D_
What Are The Driving Electric Cars Market Evolution?_x000D_
The increasing demand for electric vehicles (EVs) is driving the electric cars market, one of the fastest-growing segments within the broader EV market. According to the International Energy Agency (IEA), electric car sales, including fully electric and plug-in hybrids, doubled in 2021, reaching nearly 6.6 million. By 2040, electric vehicles are expected to account for over 57% of global passenger car sales, with major companies like Tesla and BMW releasing around 200 new EV models. EVs are becoming increasingly popular due to their low maintenance, reduced carbon emissions, and growing charging infrastructure._x000D_
_x000D_
Which Firms Dominate The Electric Cars Market Segments?_x000D_
Major companies operating in the electric cars market include Toyota Motor Corporation, Bayerische Motoren Werke Aktiengesellschaft, BYD Company Limited, Tesla Inc., Renault Group, Volkswagen AG, General Motors Company, Beijing Automotive Industry Holding Co. Ltd., SAIC Motor Corporation Limited, Daimler AG, Chery Automobile Co. Ltd., Hyundai Motor Company, Ford Motor Company, Changan Automobile Co. Ltd., Volvo Car Corporation, Anhui Jianghuai Automobile Co. Ltd., Renault-Nissan-Mitsubishi Alliance (Renault-Nissan SAS and Mitsubishi Motors Corporation), Jiangling Motors Corporation Group (JMCG), Zotye Automobile Co. Ltd., Mitsubishi Motors Corporation, Zhengzhou Yutong Bus Co. Ltd., Geely Automobile Holdings Limited, Great Wall Motor Company Limited, Audi AG, Jaguar Land Rover Automotive PLC, Mahindra Electric Mobility Limited, Honda Motor Co. Ltd., Energica Motor Company S.p.A., Nissan Motor Co. Ltd., Lightyear BV_x000D_
_x000D_
What Trends Are Expected to Dominate the Electric Cars Market in the Next 5 Years?_x000D_
Companies in the electric car market are focusing on launching electric SUVs to address rising demand for sustainable mobility. In November 2024, Mahindra & Mahindra, an India-based automobile firm, introduced the BE 6e and XEV 9e electric SUVs, priced at Rs 18.90 lakh and Rs 21.90 lakh, with deliveries expected by March 2025. Equipped with LFP battery technology, these vehicles boast ranges above 650 km, positioning Mahindra competitively in the EV segment._x000D_
_x000D_
Get the full report for exclusive industry analysis:_x000D_
https://www.thebusinessresearchcompany.com/report/electric-cars-global-market-report_x000D_
_x000D_
Which Is The Largest Region In The Electric Cars Market?_x000D_
Asia-Pacific was the largest region in the electric cars market in 2023. Western Europe was the second largest region in the electric cars market. The regions covered in the electric cars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa_x000D_
_x000D_
Frequently Asked Questions:_x000D_
1. What Is the Market Size and Growth Rate of the Electric Cars Market?_x000D_
2. What is the CAGR expected in the Electric Cars Market?_x000D_
3. What Are the Key Innovations Transforming the Electric Cars Industry?_x000D_
4. Which Region Is Leading the Electric Cars Market?
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
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 Electric Cars Market Size Forecasted To Achieve $1677.4 Billion By 2029 With Steady Growth here
News-ID: 4053682 • Views: …
More Releases from The Business Research Company
Top Market Shifts Transforming the Rainwater Harvesting Systems Market Landscape …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Rainwater Harvesting Systems Market Through 2025?
Over the past few years, there has been substantial growth in the market size of rainwater harvesting systems. The industry, which was valued at $1.94 billion in 2024, is predicted to rise to $2.07 billion by…
Live Concerts Fueling Surge In Percussion Instruments Market Growth: Transformat …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Percussion Instruments Industry Market Size Be by 2025?
Over the past few years, the market size of percussion instruments has examined a steady rise. With an increase from $1.44 billion in 2024 to $1.47 billion in 2025, it expects a Compound Annual Growth Rate (CAGR) of…
Emerging Trends to Drive Hydraulic Equipment Market Growth at 3.5% CAGR Through …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Hydraulic Equipment Market Size Growth Forecast: What to Expect by 2025?
The size of the hydraulic equipment market has consistently increased in the past few years. Projections show that it will rise from $45.21 billion in 2024 to $46.86 billion in 2025, recording a compound annual growth rate (CAGR)…
Emerging Trends to Reshape the Fishing Drones Market: Innovative Advancement In …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Fishing Drones Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of fishing drones has seen a swift increase in the past few years. An expansion from $0.89 billion in 2024 to $0.99 billion in 2025, representing a compound annual growth rate (CAGR)…
More Releases for Electric
Electrical Isolators Market 2023: Mitsubishi Electric, Orient Electric, Schneide …
The Electrical Isolators Market size (volume and value) and industry chain structure published by The Insight Partners through its high quality database which is a valuable source of guidance and direction for companies and individual interested in the industry.
An electrical isolator is a material in which electric current does not flow freely. The atoms of the insulator have tightly bound electrons which cannot readily move. Other materials, semiconductors and conductors…
Electric Motors for Electric Vehicle Market by Manufacturers: Hitachi Automotive …
Electric Motors for Electric Vehicle Market research report analyzes and studies the Electric Motors for Electric Vehicle Market's production, value, financial status, and capacity. It also provides information about market share and development plans during the projected period. Moreover, the Electric Motors for Electric Vehicle Market research report provides data about key manufacturers and focuses on the market competition landscape by analyzing the market by application, product type, and region.
Click…
Thermal Overload Relay Market 2021 Precise Outlook - ABB, Schneider Electric, Ea …
Global Thermal Overload Relay Market Size, Status and Forecast 2021
The Global Thermal Overload Relay Market report offers in-depth information and comprehensive analysis of the market. It provides a complete overview of the market with detailed insights on key aspects including the current market situation, potential size, volume, and dynamics of the market. This research report makes a thorough assessment of the COVID-19 pandemic and its impact on the current market…
Global Electric Motors for Electric Vehicles Market 2025 | MAHLE GmbH, Protean E …
Researchmoz added Most up-to-date research on "Global Electric Motors for Electric Vehicles Market Insights, Forecast to 2025" to its huge collection of research reports.
This report presents the worldwide Electric Motors for Electric Vehicles market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities…
Yokogawa Electric, General Electric Profiled in Smart Factory Solutions Market 2 …
Global Smart Factory Solutions Market which focuses on effective strategies of the business framework. It highlights the recent market trends stringent energy regulations and growing pressure to conform to energy efficiency. The research methods and tools used to analyze the studies are both primary and secondary research.
This market research report on analyzes the growth prospects for the key vendors operating in this market space including Siemens, ABB, Honeywell International, Yokogawa…
Global Quartz Heat Lamps Market 2017 : Indu Electric Gerber, Schneider Electric, …
The Market Research Store report offers majority of the latest and newest industry data that covers the overall market situation along with future prospects for Quartz Heat Lamps market around the globe. The research study includes significant data and also forecasts of the global market which makes the research report a helpful resource for marketing people, analysts, industry executives, consultants, sales and product managers, and other people who are in…
