New Energy Vehicles Market Size to Surpass US$ 1665.5 Billion by 2031 as Electrification Accelerates Globally

Market Summary -

The global market for New Energy Vehicles was estimated to be worth US$ 544.65 billion in 2024 and is forecast to a readjusted size of US$ 1665.5 billion by 2031 with a CAGR of 15.3% during the forecast period 2025-2031.

Accourding to QY Research has released a new publication titled "Global New Energy Vehicles Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031." This comprehensive study provides an in-depth evaluation of the worldwide New Energy Vehicles industry, uncovering the major forces influencing market growth and delivering high-value insights for investors, industry leaders, and strategic decision-makers. The report examines critical elements such as market dynamics, evolving technologies, segmentation trends, regional developments, and the competitive landscape. With data backed by rigorous research and expert interpretation, it offers an authoritative guide to understanding the macroeconomic and microeconomic factors reshaping the global market.

Get Full PDF Sample Copy of the Report: (Including Full TOC, Tables & Charts): https://qyresearch.in/request-sample/automobile-transportation-new-energy-vehicles-market-share-and-ranking-overall-sales-and-demand-forecast-2025-2031

This report provides a comprehensive assessment of recent tariff adjustments and international strategic countermeasures on New Energy Vehicles cross-border industrial footprints, capital allocation patterns, regional economic interdependencies, and supply chain reconfigurations.

New energy vehicles (NEVs) refer to vehicles that are powered by non-traditional fuel sources and use advanced propulsion systems that significantly reduce or eliminate harmful emissions. NEVs include battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles (FCVs). These vehicles typically rely on electricity, hydrogen, or a combination of energy sources instead of conventional fossil fuels. NEVs are designed to offer environmental benefits such as reduced carbon emissions, improved energy efficiency, and lower operating costs.

Recent Developments -

The new energy vehicle market is experiencing rapid development as environmental regulations tighten and energy transformation becomes a strategic priority across transportation sectors. With the rise of sustainable mobility, NEVs have become a major focus for automotive innovation, government policy support, and consumer interest. The expansion of NEV infrastructure-such as charging networks and hydrogen refueling stations-alongside battery technology improvements and cost reductions, has significantly enhanced the practicality and appeal of NEVs in both personal and commercial use.

In China, NEVs are at the core of national policy for green development and industrial upgrading. The domestic market has seen explosive growth in production and sales of electric vehicles, and a growing number of cities are introducing NEV-exclusive incentives, including license plate benefits, toll reductions, and preferential access to urban areas. Meanwhile, commercial applications of NEVs-such as electric logistics vehicles, taxis, and public buses-are steadily increasing as fleet operators seek cost-effective and environmentally friendly alternatives. As technology and supply chains mature, the NEV sector is transitioning from a policy-driven market to a market-driven one, where performance, user experience, and long-term value are becoming decisive factors in consumer adoption.

Market Drivers, Challenges & Restraints -

This section outlines the various elements influencing the trajectory of the New Energy Vehicles market:

Key Growth Drivers -

- Supportive policy frameworks and regulatory reforms
- Advancement in product innovation and technological breakthroughs
- Growing demand in emerging application areas
- Shift in global supply chain structures

Restraints & Challenges -

- Regulatory uncertainties
- Competitive pricing pressures
- Operational risks
- Market-entry barriers

Market Segmentation and Regional -

By Type

BEV
PHEV
Fuel Cell Vehicle

By Application

Home Use
Commercial Use

Regional Analysis -

✔ North America (U.S., Canada, China)
✔ Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
✔ Asia-Pacific (Japan, South Korea, China Taiwan, Southeast Asia, India)
✔ Middle East, Africa, Latin America (Brazil, Mexico, Turkey, Israel, GCC Countries)

The analysis spans from 2024 (base year) to 2031 (forecast period).

Major Company Included: -

Tesla
BYD
Volkswagen
BMW
Mercedes-Benz
Stellantis
SAIC
VOLVO
Hyundai & Kia
Renault
GEELY
GAC Motor
NIO
ONE
Ford
XPeng
Chery
TOYOTA
Leapmotor
Great Wall Motors
Nissan
Seres Auto
AION

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Why should you purchase this report?

Purchasing this report provides you with a comprehensive and data-driven understanding of the market landscape, enabling informed business decisions and strategic planning. The report comes with free customization based on client requirements, including a country-level breakdown of any five countries of your choice and a competitive analysis of segment revenue by key market players. With detailed insights into market trends, growth drivers, challenges, competitive dynamics, and emerging opportunities, this report equips stakeholders, manufacturers, and investors with actionable intelligence to identify profitable prospects, optimize operations, and maintain a competitive edge in the industry.

How Can the Research Study Help your Business?

✔ The information presented in the New Energy Vehicles report helps your decision makers to become prudent and make the best business choices.
✔ The report enables you to see the future of the global New Energy Vehicles market and accordingly take decisions that will be in the best interest of your business.
✔ It offers you a forward-looking perspective of the global New Energy Vehicles market drivers and how you can secure significant market gains in the near future.
✔ It provides SWOT analysis of the global New Energy Vehicles market along with useful graphics and detailed statistics providing quick information about the market's overall progress throughout the forecast period.
✔ It also assesses the changing competitive dynamics of the global New Energy Vehicles market using pin-point evaluation.

Key Questions Answered in the Report -

✔ What is the size and estimated growth rate of the global and regional New Energy Vehicles market?
✔ Which countries are expected to display the strongest growth?
✔ Which region will dominate the market throughout the forecast period?
✔ What are the main factors driving or restraining market expansion?
✔ What technological advancements are shaping future demand?
✔ Where are the key opportunities for new entrants and established players?
✔ Which companies currently hold the highest market share?
✔ How will market dynamics evolve from 2025 to 2031?

Table of Contents - Major Key Points:

1 Market Overview
1.1 New Energy Vehicles Product Introduction
1.2 Global New Energy Vehicles Market Size Forecast
1.2.1 Global New Energy Vehicles Sales Value (2020-2031)
1.2.2 Global New Energy Vehicles Sales Volume (2020-2031)
1.2.3 Global New Energy Vehicles Sales Price (2020-2031)
1.3 New Energy Vehicles Market Trends & Drivers
1.3.1 New Energy Vehicles Industry Trends
1.3.2 New Energy Vehicles Market Drivers & Opportunity
1.3.3 New Energy Vehicles Market Challenges
1.3.4 New Energy Vehicles Market Restraints
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Competitive Analysis by Company
2.1 Global New Energy Vehicles Players Revenue Ranking (2024)
2.2 Global New Energy Vehicles Revenue by Company (2020-2025)
2.3 Global New Energy Vehicles Players Sales Volume Ranking (2024)
2.4 Global New Energy Vehicles Sales Volume by Company Players (2020-2025)
2.5 Global New Energy Vehicles Average Price by Company (2020-2025)
2.6 Key Manufacturers New Energy Vehicles Manufacturing Base and Headquarters
2.7 Key Manufacturers New Energy Vehicles Product Offered
2.8 Key Manufacturers Time to Begin Mass Production of New Energy Vehicles
2.9 New Energy Vehicles Market Competitive Analysis
2.9.1 New Energy Vehicles Market Concentration Rate (2020-2025)
2.9.2 Global 5 and 10 Largest Manufacturers by New Energy Vehicles Revenue in 2024
2.9.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in New Energy Vehicles as of 2024)
2.10 Mergers & Acquisitions, Expansion
3 Segmentation by Type
3.1 Introduction by Type
3.1.1 BEV
3.1.2 PHEV
3.1.3 Fuel Cell Vehicle
3.2 Global New Energy Vehicles Sales Value by Type
3.2.1 Global New Energy Vehicles Sales Value by Type (2020 VS 2024 VS 2031)
3.2.2 Global New Energy Vehicles Sales Value, by Type (2020-2031)
3.2.3 Global New Energy Vehicles Sales Value, by Type (%) (2020-2031)
3.3 Global New Energy Vehicles Sales Volume by Type
3.3.1 Global New Energy Vehicles Sales Volume by Type (2020 VS 2024 VS 2031)
3.3.2 Global New Energy Vehicles Sales Volume, by Type (2020-2031)
3.3.3 Global New Energy Vehicles Sales Volume, by Type (%) (2020-2031)
3.4 Global New Energy Vehicles Average Price by Type (2020-2031)
4 Segmentation by Application
4.1 Introduction by Application
4.1.1 Home Use
4.1.2 Commercial Use
4.2 Global New Energy Vehicles Sales Value by Application
4.2.1 Global New Energy Vehicles Sales Value by Application (2020 VS 2024 VS 2031)
4.2.2 Global New Energy Vehicles Sales Value, by Application (2020-2031)
4.2.3 Global New Energy Vehicles Sales Value, by Application (%) (2020-2031)
4.3 Global New Energy Vehicles Sales Volume by Application
4.3.1 Global New Energy Vehicles Sales Volume by Application (2020 VS 2024 VS 2031)
4.3.2 Global New Energy Vehicles Sales Volume, by Application (2020-2031)
4.3.3 Global New Energy Vehicles Sales Volume, by Application (%) (2020-2031)
4.4 Global New Energy Vehicles Average Price by Application (2020-2031)
5 Segmentation by Region
5.1 Global New Energy Vehicles Sales Value by Region
5.1.1 Global New Energy Vehicles Sales Value by Region: 2020 VS 2024 VS 2031
5.1.2 Global New Energy Vehicles Sales Value by Region (2020-2025)
5.1.3 Global New Energy Vehicles Sales Value by Region (2026-2031)
5.1.4 Global New Energy Vehicles Sales Value by Region (%), (2020-2031)
5.2 Global New Energy Vehicles Sales Volume by Region
5.2.1 Global New Energy Vehicles Sales Volume by Region: 2020 VS 2024 VS 2031
5.2.2 Global New Energy Vehicles Sales Volume by Region (2020-2025)
5.2.3 Global New Energy Vehicles Sales Volume by Region (2026-2031)
5.2.4 Global New Energy Vehicles Sales Volume by Region (%), (2020-2031)
5.3 Global New Energy Vehicles Average Price by Region (2020-2031)
5.4 North America
5.4.1 North America New Energy Vehicles Sales Value, 2020-2031
5.4.2 North America New Energy Vehicles Sales Value by Country (%), 2024 VS 2031
5.5 Europe
5.5.1 Europe New Energy Vehicles Sales Value, 2020-2031
5.5.2 Europe New Energy Vehicles Sales Value by Country (%), 2024 VS 2031
5.6 Asia Pacific
5.6.1 Asia Pacific New Energy Vehicles Sales Value, 2020-2031
5.6.2 Asia Pacific New Energy Vehicles Sales Value by Region (%), 2024 VS 2031
5.7 South America
5.7.1 South America New Energy Vehicles Sales Value, 2020-2031
5.7.2 South America New Energy Vehicles Sales Value by Country (%), 2024 VS 2031
5.8 Middle East & Africa
5.8.1 Middle East & Africa New Energy Vehicles Sales Value, 2020-2031
5.8.2 Middle East & Africa New Energy Vehicles Sales Value by Country (%), 2024 VS 2031
6 Segmentation by Key Countries/Regions
6.1 Key Countries/Regions New Energy Vehicles Sales Value Growth Trends, 2020 VS 2024 VS 2031
6.2 Key Countries/Regions New Energy Vehicles Sales Value and Sales Volume
6.2.1 Key Countries/Regions New Energy Vehicles Sales Value, 2020-2031
6.2.2 Key Countries/Regions New Energy Vehicles Sales Volume, 2020-2031
6.3 United States
6.3.1 United States New Energy Vehicles Sales Value, 2020-2031
6.3.2 United States New Energy Vehicles Sales Value by Type (%), 2024 VS 2031
6.3.3 United States New Energy Vehicles Sales Value by Application, 2024 VS 2031
6.4 Europe
6.4.1 Europe New Energy Vehicles Sales Value, 2020-2031
6.4.2 Europe New Energy Vehicles Sales Value by Type (%), 2024 VS 2031
6.4.3 Europe New Energy Vehicles Sales Value by Application, 2024 VS 2031
6.5 China
6.5.1 China New Energy Vehicles Sales Value, 2020-2031
6.5.2 China New Energy Vehicles Sales Value by Type (%), 2024 VS 2031
6.5.3 China New Energy Vehicles Sales Value by Application, 2024 VS 2031
6.6 Japan
6.6.1 Japan New Energy Vehicles Sales Value, 2020-2031
6.6.2 Japan New Energy Vehicles Sales Value by Type (%), 2024 VS 2031
6.6.3 Japan New Energy Vehicles Sales Value by Application, 2024 VS 2031
6.7 South Korea
6.7.1 South Korea New Energy Vehicles Sales Value, 2020-2031
6.7.2 South Korea New Energy Vehicles Sales Value by Type (%), 2024 VS 2031
6.7.3 South Korea New Energy Vehicles Sales Value by Application, 2024 VS 2031
6.8 Southeast Asia
6.8.1 Southeast Asia New Energy Vehicles Sales Value, 2020-2031
6.8.2 Southeast Asia New Energy Vehicles Sales Value by Type (%), 2024 VS 2031
6.8.3 Southeast Asia New Energy Vehicles Sales Value by Application, 2024 VS 2031
6.9 India
6.9.1 India New Energy Vehicles Sales Value, 2020-2031
6.9.2 India New Energy Vehicles Sales Value by Type (%), 2024 VS 2031
6.9.3 India New Energy Vehicles Sales Value by Application, 2024 VS 2031
7 Company Profiles
7.1 Tesla
7.1.1 Tesla Company Information
7.1.2 Tesla Introduction and Business Overview
7.1.3 Tesla New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.1.4 Tesla New Energy Vehicles Product Offerings
7.1.5 Tesla Recent Development
7.2 BYD
7.2.1 BYD Company Information
7.2.2 BYD Introduction and Business Overview
7.2.3 BYD New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.2.4 BYD New Energy Vehicles Product Offerings
7.2.5 BYD Recent Development
7.3 Volkswagen
7.3.1 Volkswagen Company Information
7.3.2 Volkswagen Introduction and Business Overview
7.3.3 Volkswagen New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.3.4 Volkswagen New Energy Vehicles Product Offerings
7.3.5 Volkswagen Recent Development
7.4 BMW
7.4.1 BMW Company Information
7.4.2 BMW Introduction and Business Overview
7.4.3 BMW New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.4.4 BMW New Energy Vehicles Product Offerings
7.4.5 BMW Recent Development
7.5 Mercedes-Benz
7.5.1 Mercedes-Benz Company Information
7.5.2 Mercedes-Benz Introduction and Business Overview
7.5.3 Mercedes-Benz New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.5.4 Mercedes-Benz New Energy Vehicles Product Offerings
7.5.5 Mercedes-Benz Recent Development
7.6 Stellantis
7.6.1 Stellantis Company Information
7.6.2 Stellantis Introduction and Business Overview
7.6.3 Stellantis New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.6.4 Stellantis New Energy Vehicles Product Offerings
7.6.5 Stellantis Recent Development
7.7 SAIC
7.7.1 SAIC Company Information
7.7.2 SAIC Introduction and Business Overview
7.7.3 SAIC New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.7.4 SAIC New Energy Vehicles Product Offerings
7.7.5 SAIC Recent Development
7.8 VOLVO
7.8.1 VOLVO Company Information
7.8.2 VOLVO Introduction and Business Overview
7.8.3 VOLVO New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.8.4 VOLVO New Energy Vehicles Product Offerings
7.8.5 VOLVO Recent Development
7.9 Hyundai & Kia
7.9.1 Hyundai & Kia Company Information
7.9.2 Hyundai & Kia Introduction and Business Overview
7.9.3 Hyundai & Kia New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.9.4 Hyundai & Kia New Energy Vehicles Product Offerings
7.9.5 Hyundai & Kia Recent Development
7.10 Renault
7.10.1 Renault Company Information
7.10.2 Renault Introduction and Business Overview
7.10.3 Renault New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.10.4 Renault New Energy Vehicles Product Offerings
7.10.5 Renault Recent Development
7.11 GEELY
7.11.1 GEELY Company Information
7.11.2 GEELY Introduction and Business Overview
7.11.3 GEELY New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.11.4 GEELY New Energy Vehicles Product Offerings
7.11.5 GEELY Recent Development
7.12 GAC Motor
7.12.1 GAC Motor Company Information
7.12.2 GAC Motor Introduction and Business Overview
7.12.3 GAC Motor New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.12.4 GAC Motor New Energy Vehicles Product Offerings
7.12.5 GAC Motor Recent Development
7.13 NIO
7.13.1 NIO Company Information
7.13.2 NIO Introduction and Business Overview
7.13.3 NIO New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.13.4 NIO New Energy Vehicles Product Offerings
7.13.5 NIO Recent Development
7.14 ONE
7.14.1 ONE Company Information
7.14.2 ONE Introduction and Business Overview
7.14.3 ONE New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.14.4 ONE New Energy Vehicles Product Offerings
7.14.5 ONE Recent Development
7.15 Ford
7.15.1 Ford Company Information
7.15.2 Ford Introduction and Business Overview
7.15.3 Ford New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.15.4 Ford New Energy Vehicles Product Offerings
7.15.5 Ford Recent Development
7.16 XPeng
7.16.1 XPeng Company Information
7.16.2 XPeng Introduction and Business Overview
7.16.3 XPeng New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.16.4 XPeng New Energy Vehicles Product Offerings
7.16.5 XPeng Recent Development
7.17 Chery
7.17.1 Chery Company Information
7.17.2 Chery Introduction and Business Overview
7.17.3 Chery New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.17.4 Chery New Energy Vehicles Product Offerings
7.17.5 Chery Recent Development
7.18 TOYOTA
7.18.1 TOYOTA Company Information
7.18.2 TOYOTA Introduction and Business Overview
7.18.3 TOYOTA New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.18.4 TOYOTA New Energy Vehicles Product Offerings
7.18.5 TOYOTA Recent Development
7.19 Leapmotor
7.19.1 Leapmotor Company Information
7.19.2 Leapmotor Introduction and Business Overview
7.19.3 Leapmotor New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.19.4 Leapmotor New Energy Vehicles Product Offerings
7.19.5 Leapmotor Recent Development
7.20 Great Wall Motors
7.20.1 Great Wall Motors Company Information
7.20.2 Great Wall Motors Introduction and Business Overview
7.20.3 Great Wall Motors New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.20.4 Great Wall Motors New Energy Vehicles Product Offerings
7.20.5 Great Wall Motors Recent Development
7.21 Nissan
7.21.1 Nissan Company Information
7.21.2 Nissan Introduction and Business Overview
7.21.3 Nissan New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.21.4 Nissan New Energy Vehicles Product Offerings
7.21.5 Nissan Recent Development
7.22 Seres Auto
7.22.1 Seres Auto Company Information
7.22.2 Seres Auto Introduction and Business Overview
7.22.3 Seres Auto New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.22.4 Seres Auto New Energy Vehicles Product Offerings
7.22.5 Seres Auto Recent Development
7.23 AION
7.23.1 AION Company Information
7.23.2 AION Introduction and Business Overview
7.23.3 AION New Energy Vehicles Sales, Revenue, Price and Gross Margin (2020-2025)
7.23.4 AION New Energy Vehicles Product Offerings
7.23.5 AION Recent Development
8 Industry Chain Analysis
8.1 New Energy Vehicles Industrial Chain
8.2 New Energy Vehicles Upstream Analysis
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.2.3 Manufacturing Cost Structure
8.3 Midstream Analysis
8.4 Downstream Analysis (Customers Analysis)
8.5 Sales Model and Sales Channels
8.5.1 New Energy Vehicles Sales Model
8.5.2 Sales Channel
8.5.3 New Energy Vehicles Distributors
9 Research Findings and Conclusion
10 Appendix
10.1 Research Methodology
10.1.1 Methodology/Research Approach
10.1.1.1 Research Programs/Design
10.1.1.2 Market Size Estimation
10.1.1.3 Market Breakdown and Data Triangulation
10.1.2 Data Source
10.1.2.1 Secondary Sources
10.1.2.2 Primary Sources
10.2 Author Details
10.3 Disclaimer

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