Please Wait.....
Report
Global Electric Cars - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2016 - 2029
Market Report I 2024-02-17 I 353 Pages I Mordor Intelligence
The Global Electric Cars Market size is estimated at USD 0.52 trillion in 2024, and is expected to reach USD 1.12 trillion by 2029, growing at a CAGR of 16.59% during the forecast period (2024-2029).
Key Highlights
-Largest Segment by Fuel Type - BEV : Increase in global electrification, new product launches, awareness of battery vehicles, Government offerings, such as incentives, and electric infrastructure development are fueling demand for BEV.
-Fastest-growing Segment by Fuel Type - FCEV : increasing fuel cost is shifting consumers to electric vehicles, due to Better fuel efficiency, and no range anxiety issues PHEV is the fastest-growing segment in electric vehicle market in globally.
-Largest Country Market - Germany : China is the largest country in the global electric car market, as the country is the major producer of electric vehicles, government norms and incentives are aided to the growth of market.
-Fastest Growing Country Market - Mexico : The United States is the fastest-growing country in the global electric cars market. Government plans to ban ICE vehicles and incentives offered by the government is shifting consumer to e-mobility.
Electric Cars Market Trends
Sports Utility Vehicle is the largest segment by Sub Body Type.
- One of the industries most affected by the global chip shortages and supply chain disruptions brought on by the coronavirus pandemic is the automotive sector. This has not stopped Tesla from coming under fire for contributing to climate change, whether through the manufacturing process or the automobiles produced. Regarding the latter, European Union car buyers appear to be contributing to reducing the negative effects of fossil fuel-powered vehicles.
- The past year has seen a substantial effect of the coronavirus pandemic on global auto markets. As more and more nations restricted travel due to COVID-19 in 2020, the automotive industry experienced a number of setbacks. In 2020, there were 63.8 million cars sold worldwide. A slight rebound is expected in 2021, with 66 million cars expected to be sold. Toyota and the Volkswagen Group both saw reductions in their deliveries of more than a million cars.
- In 2021, approximately 56.4 million passenger cars were sold worldwide, representing a nearly 5% increase over the previous year. China had the largest regional automobile market in 2021, with slightly less than 21.5 million units. Automotive technology will undergo significant change in the next ten years. Around 26% of new automobile sales worldwide are expected to be electric vehicles by 2030, with an estimated 58 million new self-driving cars added to the global fleet by 2022. As a result of technological advancements, the types of components required to create the finished product begin to change. This allows for further segmentation of the automotive supplier market, particularly the automotive electronics market. Automation and electrification will surely boost the car market in the near future.
Europe is the largest segment by Region.
- Consumer spending on electric car purchases increased to USD 120 billion in 2020. Governments worldwide spent nearly USD 14 billion to encourage the sales of electric vehicles, which increased by 25% in 2019, primarily due to increased incentives in Europe. The output of automotive batteries increased by 33% from 2019 to 160 GWh, and their cost decreased by 13% to an average of USD 137/kWh per battery pack globally in 2020. Worldwide government National EV Policy stipulates that when buying or leasing an electric vehicle (EV), whether new or used, drivers are exempt from both purchase tax and VAT. EV owners are also excluded from paying an annual road traffic insurance charge.
- Many government policies boast the world's largest per capita fleet of plug-in electric cars and offer several enticing incentives for buying electric vehicles. For instance, there are currently more than 16,000 charging stations in Norway, up from just 3,000 in 2011. On all important routes, including the highest fast-charging station in the entire world, the Norwegian government has erected fast-charging stations every 50 km. EV charging stations appear to have a promising future in Norway.
- There are several highly attractive incentives for electric vehicles globally. Overall, many countries signed Paris climate policy targets, which call for a 40% decrease in greenhouse gas emissions by 2030, which are supported by the automobile policy. National vehicle targets, including the sale of entirely zero-emission cars by 2030, were already established by the National Transport Plan in 2017. Norway has also committed to reducing greenhouse gas emissions by at least 40% by 2030. These factors are all expected to boost the Norwegian electric car market over the forecast period.
Electric Cars Industry Overview
The Global Electric Cars Market is fairly consolidated, with the top five companies occupying 71.50%. The major players in this market are BYD Motors Inc., General Motors Company, Groupe Renault, Tesla Inc. and Volkswagen AG (sorted alphabetically).
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 EXECUTIVE SUMMARY & KEY FINDINGS
2 REPORT OFFERS
3 INTRODUCTION
3.1 Study Assumptions & Market Definition
3.2 Scope of the Study
3.3 Research Methodology
4 KEY INDUSTRY TRENDS
4.1 Population
4.2 GDP
4.3 CVP
4.4 Inflation Rate
4.5 Interest Rate For Auto Loans
4.6 Battery Price (per Kwh)
4.7 Logistics Performance Index
4.8 Electrification Impact
4.9 New XEV Models Announced
4.10 Charging Stations Deployment
4.11 Regulatory Framework
4.12 Value Chain & Distribution Channel Analysis
5 MARKET SEGMENTATION
5.1 Body Type
5.1.1 Passenger Cars
5.1.1.1 Hatchback
5.1.1.2 Multi-purpose Vehicle
5.1.1.3 Sedan
5.1.1.4 Sports Utility Vehicle
5.2 Fuel Type
5.2.1 BEV
5.2.2 FCEV
5.2.3 HEV
5.2.4 PHEV
5.3 Region
5.3.1 Africa
5.3.1.1 South Africa
5.3.2 Asia-Pacific
5.3.2.1 Australia
5.3.2.2 China
5.3.2.3 India
5.3.2.4 Indonesia
5.3.2.5 Japan
5.3.2.6 Malaysia
5.3.2.7 South Korea
5.3.2.8 Thailand
5.3.2.9 Rest-of-APAC
5.3.3 Europe
5.3.3.1 Austria
5.3.3.2 Belgium
5.3.3.3 Czech Republic
5.3.3.4 Denmark
5.3.3.5 Estonia
5.3.3.6 France
5.3.3.7 Germany
5.3.3.8 Ireland
5.3.3.9 Italy
5.3.3.10 Latvia
5.3.3.11 Lithuania
5.3.3.12 Norway
5.3.3.13 Poland
5.3.3.14 Russia
5.3.3.15 Spain
5.3.3.16 Sweden
5.3.3.17 UK
5.3.3.18 Rest-of-Europe
5.3.4 Middle East
5.3.4.1 UAE
5.3.4.2 Rest-of-MEA
5.3.5 Miidle East
5.3.6 North America
5.3.6.1 Canada
5.3.6.2 Mexico
5.3.6.3 US
5.3.6.4 Rest-of-North America
5.3.7 South America
5.3.7.1 Rest-of-Latin America
6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles
6.4.1 BYD Motors Inc.
6.4.2 Daimler AG
6.4.3 Ford Motor Company
6.4.4 General Motors Company
6.4.5 Groupe Renault
6.4.6 Nissan Motor Company Ltd
6.4.7 Tesla Inc.
6.4.8 Toyota motor corporation
6.4.9 Volkswagen AG
7 KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS
8 APPENDIX
8.1 Global Overview
8.1.1 Overview
8.1.2 Porter's Five Forces Framework
8.1.3 Global Value Chain Analysis
8.1.4 Market Dynamics (DROs)
8.2 Sources & References
8.3 List of Tables & Figures
8.4 Primary Insights
8.5 Data Pack
8.6 Glossary of Terms
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security