Global E-Mobility Market to Grow Rapidly with 27.2% CAGR, Driven by EV Adoption and Government Support

The global e-mobility market was valued at USD 289 billion in 2022 and is projected to grow at a CAGR of 27.2% during the forecast period, fueled by increasing investments to reduce carbon emissions, growing consumer preference for sustainable transport, and supportive government initiatives.
E-mobility, which includes vehicles powered by electricity such as battery electric, hybrid, and fuel-cell vehicles, is becoming central to global efforts to combat climate change. The United Nations has highlighted the need to cut global carbon dioxide emissions by 45% by 2030 to achieve net-zero emissions by 2050, placing e-mobility at the heart of this transition.

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Industry Momentum and Investments

Automotive manufacturers are rapidly transitioning from traditional fuel vehicles to electric models. For example:
Volvo plans for 50% of its sales to be fully electric by 2025.
General Motors has committed USD 27 billion toward an all-EV lineup by 2030.
Toyota invested USD 5.6 billion in U.S. and Japan battery production in 2022.

Tesla announced a USD 3.5 billion investment in its Nevada Gigafactory to boost EV battery cell production.
These large-scale commitments highlight the growing global shift toward electric mobility.

Government Support

Government regulations and incentives are accelerating adoption worldwide.
In the U.S., the California Air Resources Board mandated that all new cars and light trucks sold from 2035 must be zero-emission, with federal incentives of up to USD 7,500 per EV purchase.

The European Union has committed to deploying 1 million public chargers by 2025.
Japan plans to electrify all new passenger cars by the mid-2030s, as part of its 2050 carbon-neutral goal.
In Ontario, Canada, the government invested USD 220 million to support Ford's EV production.
Germany is offering subsidies of up to USD 3,200 for EV purchases within specified price ranges.

Regional Landscape section of the e-mobility market report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.

The various regions analyzed in the report include:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Such policies are ensuring that EV adoption continues to rise, supported by the buildout of critical charging infrastructure.

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Market Insights by Type

Battery Electric Vehicles (BEVs): Accounted for the largest market share in 2022. Rising fuel prices, consumer preference shifts, and government support are boosting this segment. According to The World Bank, crude oil price hikes in 2022 led to sharp increases in petrol (49%) and diesel (55%) prices, encouraging consumers to move toward BEVs.
Hybrid and Plug-In Hybrid Vehicles (HEVs and PHEVs): Remain important transitional solutions but face growing competition from BEVs as costs fall and charging networks expand.
Fuel Cell Electric Vehicles (FCEVs): Still a niche category but gaining interest in long-haul and heavy-duty transport.

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the e-mobility market , covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic

Some major players included in the e-mobility market report are:

ABB Ltd
Siemens AG
Delta Electronics, Inc.
ChargePoint Holdings, Inc.
Compleo Charging Solutions AG
Schneider Electric SE
Eaton Corporation Plc
Blink Charging Co.
Enphase Energy, Inc.
STMicroelectronics NV
BOSCH Automotive Services Solutions Inc.
Tesla, Inc.
Toyota Motor Corporation
BYD Company Ltd.
Nissan Motor Corporation
Volkswagen AG
General Motors
Ford Motor Company

Market Insights by Charging Infrastructure

Solution Providers: Expected to register strong growth as they manage the broader EV ecosystem, from vehicle operations to energy and charging systems. Companies like Delta Electronics and EVgo are expanding partnerships to improve charging networks.
Charging Operators: Continue to expand presence in public spaces, commercial buildings, and residential areas, but solution providers are increasingly driving innovation.

The report bifurcates the e-mobility market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

E-Mobility Market Market Segmentation Analysis
For the purpose of this report, Emergen Research has segmented e-mobility market on the basis of type, charging infrastructure, end-use, battery, component, and region:

Type Outlook (Revenue, USD Billion; 2019-2032)

Battery Electric Vehicle (BEV)
Hybrid Electric Vehicle (HEV)
Plug-In Hybrid Electric Vehicle (PHEV)
Fuel Cell Electric Vehicle (FCEV)

Charging Infrastructure Outlook (Revenue, USD Billion; 2019-2032)
Solution Provider
Charging Operator

End-use Outlook (Revenue, USD Billion; 2019-2032)
Commercial
Personal

Battery Outlook (Revenue, USD Billion; 2019-2032)
Lithium-ion Battery
Solid-state Battery
Lead-acid Battery
Nickel-cadmium Battery

Component Outlook (Revenue, USD Billion; 2019-2032)
Hardware
Software

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Market Insights by End-Use
Commercial Segment: Anticipated to hold a significant share as adoption rises in buses, trucks, and fleet vehicles. According to the International Energy Agency (IEA), the global electric heavy-duty vehicle stock reached 66,000 in 2021, showing steady growth. Companies like Scania are introducing electric trucks for long-haul transport, while firms like Siemens are developing specialized charging solutions for commercial fleets.
Personal Segment: Continues to grow as consumers embrace EVs for lower running costs, environmental benefits, and expanding subsidy programs.

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