The global electric vehicle market is expected to reach an estimated $335.3 billion by 2023 with a CAGR of 38% from 2018 to 2023

Trends, opportunities and forecast in electric vehicle market to 2023 electric vehicle market propulsion type (battery electric vehicles and hybrid & plug-in-hybrid electric vehicles), by vehicle type (compact car, luxury car, SUVs & crossover, small car, mid-size car, and others), by component type (independent drive component, battery, motor and gearbox, charger, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

New York, Nov. 11, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Electric Vehicle Market Report: Trends, Forecast and Competitive Analysis" - https://www.reportlinker.com/p05983418/?utm_source=GNW

The future of the global electric vehicle market looks promising with opportunities in small, mid size, and luxury car market. The global electric vehicle market is expected to reach an estimated $335.3 billion by 2023 with a CAGR of 38% from 2018 to 2023. The major drivers for this market are the government initiatives such as ta
x benefits and subsidies to promote electric vehicles, high investment from automakers in electric vehicles, and growing concerns for environmental pollution

Emerging trends, which have a direct impact on the dynamics of the market, include development of wireless charging infrastructure and introduction of multiple long-range EVs with low cost. Tesla, Gen
eral Motors, Nissan Motor, Mitsubishi, Volkswagen, BMW, Ford, Mercedes Benz, Hyundai, and Kia Motor are the major manufacturers of electric vehicles..

The study includes the electric vehicles market size and forecast for the global electric vehicles market through 2024, segmented by propulsion type, vehicle type, component type, and the region as follows:

Electric Vehicles Market by Propulsion Type [$B shipment analysis from 2012 to 2023]:
• Battery Electric Vehicles
• Hybrid & Plug-in-Hybrid Electric Vehicles

Electric Vehicles Market by Vehicle Type [$B shipment analysis from 2012 to 2023]:
• Compact Car
• Luxury Car
• SUVs & Crossover
• Small Car
• Mid-size Car
• Others

Electric Vehicles Market by Component Type[$B shipment analysis from 2012 to 2023]:
• Independent Drive Component
• Battery
• Motor and Gearbox
• Charger
• Others

Electric Vehicles Market by Region [$B shipment analysis for 2012 to 2023]:
• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• Asia Pacific
• Japan
• China
• The Rest of the World
Some of the electric vehicles companies profiled in this report include Tesla Inc, General Motors, Nissan Motor Co., Ltd., Mitsubishi Motors, Volkswagen AG, Bayerische Motoren Werke AG (BMW), Ford Motor Company, Mercedes Benz, Hyundai Motor Company, Kia Motors, and others.

The analyst forecasts that battery electric vehicle will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to the consumers’ demand for zero emission vehicles, and decreasing electric vehicle battery cost.

Within the electric vehicle market, compact car will remain the largest vehicle type and it is expected to witness the highest growth over the forecast period due to increasing features s\uch as, improvement in vehicle range per charge and charging infrastructure.

Asia Pacific will remain the largest region and it is also expected to witness the highest growth over the forecast period due to growing concerns on environmental pollution, government subsidies and tax rebates, and heavy investment from automaker in electric vehicle development.

Some of the features of this report:

• Market size estimates: Global electric vehicles market size estimation in terms of value ($B) shipment.
• Trend and forecast analysis: Market trend (2012-2017) and forecast (2018-2023) by end use industry.
• Segmentation analysis: Global electric vehicles market size by propulsion type, vehicle type, and component type in terms of value shipment.
• Regional analysis: Global electric vehicles market breakdown by key regions such as North America, Europe, and Asia & Rest of World.
• Growth opportunities: Analysis on growth opportunities in different applications and regions of electric vehicles in the global electric vehicles market.
• Strategic analysis: This includes M&A, new product development, and competitive landscape of electric vehicles in the global electric vehicles market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

This report answers the following 11 key questions:

Q.1. What are some of the most promising, high growth opportunities for the electric vehicle market by propulsion type (battery electric vehicles and hybrid & plug-in-hybrid electric vehicles), by vehicle type (compact car, luxury car, SUVs & crossover, small car, mid-size car, and others), by component type (independent drive component, battery, motor and gearbox, charger, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting electric vehicle market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this electric vehicle market?
Q.6. What are the emerging trends in this electric vehicle market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the electric vehicle market?
Q.8. What are the new developments in the electric vehicle market? Which companies are leading these developments?
Q.9. Who are the major players in this electric vehicle market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing services in this market and how big of a threat do they pose for loss of electric vehicle market share by service substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
Read the full report: https://www.reportlinker.com/p05983418/?utm_source=GNW

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