Electric Cars Market Size & Analysis – Forecasts To 2025

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GLOBAL MARKET ESTIMATES RESEARCH CONSULTANTS
Ankita Roy, Treesha Banerjee and Liza Dsouza
from Global Market Estimates throw the spotlight
on the growing Electric Cars Market Market
Insights The electric cars market is anticipated
to grow at a high CAGR over the forecast period
on account of the increasing demand for low
emission automotive. The preferences for vehicles
which reduce the burden on fossil fuels and
provide efficient performance are expected to
drive the demand for electric vehicles over the
coming years. The low cost operation and
maintenance cost of electric cars as compared to
diesel or petrol driven passenger cars is
projected to boost demand over the forecast
period. Emission of harmful gases from IC engine
based vehicles has resulted in deterioration of
environmental conditions which has prompted the
need to develop environment-friendly cars.
Electric Cars Market Type Insights On the basis
of type, the electric cars market is segmented
into Battery Electric Vehicle (BEV), Hybrid
Electric Vehicles (HEV), and Plug-in Hybrid
Electric Vehicles (PHEV). Plug-in hybrid electric
cars are projected to grow at a high CAGR over
the forecast period on account of high growth
recorded in public charging infrastructure
development. The implementation of stringent
regulations pertaining to vehicles emission
control in the North American, European, and
Asian countries is projected to positively impact
demand for battery electric cars. However, the
risk of drainage of battery and lack of alternate
fuel source may hamper market growth over the
coming years.
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GLOBAL MARKET ESTIMATES RESEARCH
CONSULTANTS Electric Cars Market Vehicle Type
Insights On the basis of vehicle type, the
electric cars market is segmented into Sedan,
SUV, Hatchback, and others. The demand for
electric SUVs is projected to occupy the largest
share by 2025. Companies such as Volkswagen,
Mercedes, Audi, and BMW have invested in
developing SUVs rather than sedans as their
first range of electric vehicles.
Electric Cars Market Regional Insights The
demand for electric cars in Asia Pacific is
projected to grow at the highest CAGR over the
coming years. China, India, South Korea, and
Japan are expected to offer attractive
opportunities for the growth of the electric
cars market. China is one of the largest
consumers of electric cars in the world on
account of favorable government regulations
implemented on purchase of EVs. The Chinese
government has announced the construction of
more than 12,000 charging stations by 2020. The
availability of appropriate charging
infrastructure is expected to positively impact
market growth over the coming years. The
European region is expected to occupy a
significant portion of the market on account of
the increasing consumption observed in countries
such as Norway, the Netherlands, France, the UK,
and Germany, among others. After China, the U.S.
is one of the largest consumers of electric cars.
Canada is also expected to generate growing
opportunities in the North America electric
passenger cars market.
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• GLOBAL MARKET ESTIMATES RESEARCH CONSULTANTS
• Electric Cars Market Competitive Landscape
• Some of the major players in the electric cars
  market include BMW Group, Toyota Motor
  Corporation, Tesla, Nissan Motor Corporation,
  General Motors, Audi AG, Volkswagen AG, Daimler
  AG, Ford Motor Company, BYD Company Motors, Kia
  Motors, Energica Motor Company S.P.A., Mahindra
  Mahindra Ltd., and Renault Motors.
• In September 2017, BMW Group announced that it
  will introduce 25 electric vehicles by 2025, out
  of which 12 will be full electric cars. In
  December 2017, Toyota Motor Corp. announced its
  partnership with Panasonic Corp. for the
  production of batteries to be used in electric
  cars. In December 2017, Volvo Car Corp.
  announced that it will sell only electric, hybrid
  and plug-in hybrid cars in India from 2019. Such
  strategic initiatives taken up by various
  companies demonstrate the future growth
  potential of the electric passenger cars market.
• The report segments the Electric Cars Market on
  the basis of By Type
• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicles (HEV)
• Plug-in Hybrid Electric Vehicles (PHEV)
• By Vehicle Type
• Sedan
• SUV
• Hatchback
• Others
• By Region

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GLOBAL MARKET ESTIMATES RESEARCH CONSULTANTS
This article contains text from the Electric
Cars Market Size Analysis Forecasts To 2025
report prepared by Global Market Estimates. For
more information or to buy the report, please
visit https//www.globalmarketestimates.com/globa
l-electric-cars-market/
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