Electric Cars Market valued at USD 83 billion in 2019

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Market Research Report EXCLUSIVE EDITION
Global Electric Cars Market valued at USD 83
billion in 2019
Global Industry Analysis, Forecast and Trends,
2022-2030
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Electric Cars Market
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Electric Cars Market valued at USD 83 billion in
2019
Electric car market has significant growth scope
and is expected to reach USD 139.9 billion by
2025. The reports forecast the market by vehicle
type, battery type, power output, and region. It
highlights COVID-19 impact on the global
electric car industry.
Description Electric Cars Market by Vehicle Type
(Battery Electric Vehicle (BEV) and Plug-in
Hybrid Electric Vehicle (PHEV), by Battery Type
(Lithium-ion, Lead-acid, and Nickel-metal
Hydride), and by Power Output (Less than 100 KW,
100-250 KW, and Above 250 KW), and by Region
Global Industry Sizing, Growth, Trend,
Opportunity, and Forecast (20202025) The
electric cars market report covers a thorough
analysis of the market dynamics, business models,
segmental/regional analysis, and respective
market shares and strategies adopted by the key
market players operating in the global market.
It entails an in-depth analysis of the factors
influencing the global market and market
statistics indicating region wise and
segment-wise market share/growth analysis. The
report's study will outlook one of the most
exhaustive analyses of the market, capturing all
the electric cars industry aspects. Request
Sample Copy of this Report https//www.marketstat
sville.com/request-sample/electric-
cars-market-valued-at-usd-83-billion-in-2019
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Global Electric Cars Market Research Research
Report, 2018-2025 (USD Billion) Electric Cars
Market Introduction An electric car is an
alternative fuel vehicle, propelled by more than
one electric motor or traction motors. These
cars use energy in rechargeable batteries to
power the electric motor and other car components
to run it with limited emissions. Though
electricity production contributes to air
pollution, the US Environmental Protection
Agency (EPA) categorized all-electric cars as
zero-emission vehicles (ZEV), as they produce no
direct emissions or exhaust. According to the US
Department of Energy (US DoE), electric cars are
relatively more expensive than conventional and
hybrid vehicles however, some costs can
certainly be recovered through fuel- saving,
state incentives, and others.
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Electric Cars Market Dynamics The development of
electric cars charging infrastructure, supportive
policies, falling electric vehicle prices, and
rising concerns for air pollution and GHG
emissions are the driving factors of electric
cars in the global market. There were over 7.3
million electric vehicle chargers in 2019
globally, compared to 2.1 million in 2018, as per
the International Energy Agency (IEA). It is
expected that there are 6.5 million slow
chargers, and the rest are fast charges. There
rapid growth in the implementation of chargers at
the ground level will increase the demand for
electric cars during the forecast
period. Moreover, the increase in initiatives and
investment for the formation of new battery
manufacturing units will reduce the batteries'
cost in the local market, reducing the overall
electric vehicle cost. It is expected that the
batteries account for 40-50 of the total
electric car cost. The advancement in battery
manufacturing materials is expected to lower the
cost in the coming years, as there was a drop of
13 in electric car batteries in 2019. Therefore,
there are various government incentives for
purchasing electric cars, tax credits, subsidies,
and other non-monetary incentives for electric
cars in the respective economies across the
globe. However, the high cost of electric cars
compared to petroleum cars, the limited range of
electric cars, and the lack of standardization
of charging infrastructure are the main factors
that perhaps hamper the growth of the global
electric cars market during the forecast
period. COVID-19 Impact on the Electric Cars
Market The outbreak of the COVID-19 pandemic has
significantly impacted the global electric car
industry. As the market witnessed a positive
growth in the initial months of 2020 and later,
there was a wide decrease in the sales and
supply due to quarantines and factory closures in
quarter 2 (Q2), resulting in insufficient parts
supply that affects the global industry during a
longer period.
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• Electric Cars Market Scope of the Report
• The report outlines the study of the electric
  cars market on the basis of vehicle type, battery
  type, and
• power output.
• Direct Purchase Report https//www.marketstatsvil
  le.com/buy-now/electric-cars-market-valued-at-
  usd-83-billion-in-2019?opt2950
• Based on vehicle type, the electric car market is
  segmented into-
• Battery Electric Vehicle (BEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
• Based on battery type, the electric car market is
  segmented into-
• Lithium-ion (Li-ion)
• Lead-acid (LA)
• Nickel-metal Hydride
• Based on power output, the electric car market is
  segmented into-
• Less than 100 KW
• 100-250 KW
• Above 250 KW
• Electric Cars Market by Vehicle Type, 2018-2025
  (USD Million)

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The electric cars market is segmented into North
America, Asia Pacific, Europe, South America, and
Middle East Africa (MEA) from a geographical
viewpoint. In 2019, Asia Pacific was estimated to
account for the largest share in the global
electric cars market and is expected to retain
its position during the forecast period. The
well-developed fast and slow charging
infrastructure in China and the development of
advanced electric vehicles in Japan, China, and
South Korea are the major factors driving the
region's market. Moreover, Asia-Pacific has the
presence of leading electric car manufacturers,
such as BYD Auto, Geely Auto, and SAIC Motor,
which further strengthens the variety of
low-cost electric cars and the fast-charging
stations in the region. Following the Asia
Pacific, Europe is projected to foresee a
considerable growth rate in the electric car
market during the forecast period. This growth
is attributed to the intense focus of the
government on the reduction of vehicle
emissions. In 2020, the EU approved a new fuel
economy standard for vans and cars for 2021-2030,
with specific requirements or incentives for
electric vehicles, as per IEA. In Europe, there
are more than 76 of all charging points
installed in just four major countries The
Netherlands, the UK, Germany, and France,
according to the Transport Environment. In
Europe, at the time of writing, existing policies
and regulations were being maintained, and
countries, such as France and Germany, announced
increased support measures towards electric
vehicles for the remainder of 2020, as per
IEA. Electric Cars Market Competitive
Landscape The leading manufacturers of electric
cars in the global market include Tesla, Inc.,
BYD Auto, BAIC Motor, Zotye Auto, Renault
Nissan, and BMW AG. Other electric car
manufacturers include General Motors, Volkswagen
AG, Ford Motor Company, Kia Motors, and Chery
Automobile. Several automotive companies, such as
Tesla and BYD, have strengthened their electric
car offering by investing in the expansion and
distribution networks around the globe in 2019.
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• In August 2020, Kandi Technologies, a Chinese
  automaker, planned to launch a USD 13,000
  electric car to the
• US market by 2020. The company aimed to slash the
  entry price of EV ownership in the global market.
• In August 2020, Toyota launched the 2020 Yaris in
  the European market, which is integrated with a
  new hybrid powertrain option and has a much more
  distinctive appearance.
• In August 2020, Honda Cars India Limited planned
  to launch a hybrid car (Honda City) in India in
  2021. The company is aiming to start the
  production and sales of hybrid vehicles by 2021.
• The electric cars market report provides a
  thorough analysis of macro-economic factors along
  with the market attractiveness of every segment.
  The report will include an in-depth qualitative
  and quantitative assessment of
  segmental/regional outlook with the market
  players' presence in the respective segment and
  region/country. The information concluded in the
  report includes the inputs from industry
  participants and industry experts across the
  value chain.
• Access full Report Description, TOC, Table of
  Figure, Chart,
• etc https//www.marketstatsville.com/table-of-con
  tent/electric-cars-market-valued-at-usd-83-
  billion-in-2019
• The electric cars market report covers
  comprehensive analysis on
• Market Dynamics
• Market Segmentation
• Regional Analysis
• Market Size in Value and Volume
• Pricing Analysis
• Supply Demand Analysis
• Supply Chain/Value Chain

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• Trade Analysis
• Market Factor Analysis
• Market Trends
• Regulatory Landscape
• Patent Analysis
• Competition Landscape
• 15 Company Profiles
• Regional Analysis Includes
• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru,
  Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain,
  Poland, Russia, Slovenia, Slovakia, Hungary,
  Czech Republic, Belgium, the Netherlands, Norway,
  Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea,
  Indonesia, Malaysia, Thailand, Vietnam, Myanmar,
  Cambodia, the Philippines, Singapore, Australia
  New Zealand, Rest of Asia Pacific)
• The Middle East Africa (Saudi Arabia, UAE,
  South Africa, Northern Africa, Rest of MEA)
• Request For Report Description
  https//www.marketstatsville.com/electric-
• cars-market-valued-at-usd-83-billion-in-2019

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