Table of Content

1 INTRODUCTION 23
1.1 OBJECTIVES OF THE STUDY 23
1.2 MARKET DEFINITION 23
1.2.1 INCLUSIONS & EXCLUSIONS 25
TABLE 1 INCLUSIONS & EXCLUSIONS FOR THE ELECTRIC VEHICLE MARKET 25
1.3 MARKET SCOPE 26
FIGURE 1 ELECTRIC VEHICLE MARKET: MARKETS COVERED 26
1.3.1 YEARS CONSIDERED FOR THE STUDY 26
1.4 PACKAGE SIZE 27
1.5 LIMITATIONS 27
1.6 STAKEHOLDERS 27
1.7 SUMMARY OF CHANGES 28
2 RESEARCH METHODOLOGY 29
2.1 RESEARCH DATA 29
FIGURE 2 RESEARCH DESIGN 29
FIGURE 3 RESEARCH METHODOLOGY MODEL 30
2.1.1 SECONDARY DATA 31
2.1.1.1 List of key secondary sources 31
2.1.1.2 Key data from secondary sources 32
2.1.2 PRIMARY DATA 33
FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, & REGION 33
2.1.2.1 List of primary participants 34
2.2 MARKET ESTIMATION METHODOLOGY 34
FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING 35
2.3 MARKET SIZE ESTIMATION 36
2.3.1 BOTTOM-UP APPROACH 36
FIGURE 6 GLOBAL ELECTRIC VEHICLE MARKET SIZE: BOTTOM-UP APPROACH 36
2.3.2 TOP-DOWN APPROACH 36
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY FOR ELECTRIC VEHICLE MARKET: TOP-DOWN APPROACH 37
FIGURE 8 ELECTRIC VEHICLE MARKET: RESEARCH DESIGN & METHODOLOGY 37
FIGURE 9 RESEARCH APPROACH: ELECTRIC VEHICLE MARKET 38
FIGURE 10 ELECTRIC VEHICLE MARKET: RESEARCH DESIGN & METHODOLOGY – DEMAND SIDE 39
2.3.3 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES 40
2.4 DATA TRIANGULATION 41
FIGURE 11 DATA TRIANGULATION 41
2.5 FACTOR ANALYSIS 42
2.6 RESEARCH ASSUMPTIONS 42
2.7 RESEARCH LIMITATIONS 43
3 EXECUTIVE SUMMARY 44
FIGURE 12 ELECTRIC VEHICLE MARKET: MARKET DYNAMICS 45
FIGURE 13 ELECTRIC VEHICLE MARKET, BY REGION, 2021–2030 (THOUSAND UNITS) 46
FIGURE 14 LITHIUM ION PRICE 46
FIGURE 15 POTENTIAL BATTERY-CELL COST REDUCTIONS 47
FIGURE 16 THE FCEV SEGMENT IS PROJECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD (2021–2030) 47
FIGURE 17 GROWING ELECTRIC & AUTONOMOUS MOBILITY TRENDS WOULD CREATE A SHIFT IN REVENUE MIX IN COMING YEARS 48
FIGURE 18 COVID-19 IMPACT ON ELECTRIC VEHICLE MARKET, 2017–2030 49
4 PREMIUM INSIGHTS 50
4.1 ATTRACTIVE OPPORTUNITIES IN THE ELECTRIC VEHICLE MARKET 50
FIGURE 19 INCREASING DEMAND FOR ZERO-EMISSION COMMUTING TO DRIVE THE MARKET 50
4.2 ELECTRIC VEHICLE MARKET GROWTH RATE, BY REGION 51
FIGURE 20 ASIA PACIFIC ESTIMATED TO ACCOUNT FOR THE LARGEST SHARE OF THE MARKET IN 2021 51
4.3 ELECTRIC VEHICLE MARKET, BY CHARGING POINT TYPE 51
FIGURE 21 SUPER CHARGING SEGMENT TO GROW AT A HIGHER CAGR (2021–2027) 51
4.4 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE 52
FIGURE 22 PASSENGER CAR SEGMENT PROJECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD (2021–2030) 52
4.5 ELECTRIC VEHICLE MARKET, BY VEHICLE CLASS 52
FIGURE 23 MID-PRICED SEGMENT TO ACCOUNT FOR A LARGER MARKET SHARE DURING THE FORECAST PERIOD (2021–2030) 52
4.6 ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE 53
FIGURE 24 FCEV SEGMENT PROJECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD (2021–2030) 53
4.7 ELECTRIC VEHICLE MARKET, BY VEHICLE TOP SPEED 53
FIGURE 25 >125 MPH SEGMENT IS PROJECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD (2021–2030) 53
4.8 ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE 54
FIGURE 26 REAR WHEEL DRIVE SEGMENT IS PROJECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD (2021–2030) 54
5 MARKET OVERVIEW 55
5.1 INTRODUCTION 55
5.2 MARKET DYNAMICS 56
FIGURE 27 ELECTRIC VEHICLE MARKET: MARKET DYNAMICS 56
5.2.1 DRIVERS 56
5.2.1.1 Reducing prices of EV batteries 56
FIGURE 28 EV BATTERY PRICING ANALYSIS 57
5.2.1.2 Faster EV charging 57
TABLE 2 TIME REQUIRED TO CHARGE ELECTRIC VEHICLE 57
5.2.1.3 Rising prices of petroleum 58
TABLE 3 AVERAGE PETROL PRICES IN THE US (2016-2020) 58
FIGURE 29 OIL CONSUMPTION AROUND THE WORLD DURING THE PAST TEN YEARS 58
5.2.1.4 Lower operating cost 58
FIGURE 30 COMPARISON OF THE OPERATING COST OF EVS AND ICE VEHICLES 59
5.2.1.5 Lower emissions from EVs 59
FIGURE 31 COMPARISON OF EMISSIONS OF EVS AND GASOLINE VEHICLES 60
5.2.2 RESTRAINTS 60
5.2.2.1 High initial investments for installing EV fast charging infrastructure 60
FIGURE 32 FUEL STATION AVERAGE PRICE COMPARISON FOR DIFFERENT FUELS 61
5.2.2.2 Lack of sufficient EV charging infrastructure 61
FIGURE 33 COUNTRY-WISE COMPARISON OF EV CHARGER DENSITY 61
5.2.2.3 Longer charging time compared to other fuels 62
FIGURE 34 CHARGING TIME REQUIRED TO CHARGE USING DIFFERENT CHARGING POINT TYPES 62
5.2.2.4 Lower vehicle range 62
FIGURE 35 TOP EV MODEL RANGE AND BASE PRICE IN THE US 63
5.2.3 OPPORTUNITIES 64
5.2.3.1 Rising demand for electric vehicles in the automotive and transportation sectors 64
5.2.3.2 Government initiatives pertaining to EVs 64
5.2.3.3 Development of private and semi-public EV charging 64
FIGURE 36 PRIVATE, SEMI-PUBLIC, AND PUBLIC CHARGING 65
5.2.3.4 Development of wireless EV charging technology for on-the-go charging 65
5.2.4 CHALLENGES 65
5.2.4.1 High cost of vehicles 65
FIGURE 37 COST COMPARISON OF EV AND ICE VEHICLE 66
5.2.4.2 Insufficient standardization of EV charging infrastructure 66
FIGURE 38 EV CHARGERS USED AROUND THE WORLD 67
TABLE 4 ELECTRIC VEHICLE MARKET: IMPACT OF MARKET DYNAMICS 67
5.3 PORTER’S FIVE FORCES 68
FIGURE 39 PORTER’S FIVE FORCES: ELECTRIC VEHICLE MARKET 69
TABLE 5 ELECTRIC VEHICLE MARKET: IMPACT OF PORTERS FIVE FORCES 69
5.3.1 THREAT OF SUBSTITUTES 70
5.3.2 THREAT OF NEW ENTRANTS 70
5.3.3 BARGAINING POWER OF BUYERS 70
5.3.4 BARGAINING POWER OF SUPPLIERS 70
5.3.5 RIVALRY AMONG EXISTING COMPETITORS 70
?
5.4 UPCOMING ELECTRIC VEHICLE MODELS, 2021-2025 71
TABLE 6 UPCOMING ELECTRIC VEHICLE MODELS, 2021–2025 71
5.5 TOP SELLING EV MODEL SALES IN 2020 (WORLDWIDE IN THOUSANDS) 72
FIGURE 40 TOP SELLING EVS IN 2020 WORLDWIDE 72
5.6 EUROPE EV SALES (2019 & 2020) 73
TABLE 7 EV SALES DATA (THOUSANDS) 73
5.7 ELECTRIC VEHICLE MARKET ECOSYSTEM 74
FIGURE 41 ELECTRIC VEHICLE MARKET: ECOSYSTEM ANALYSIS 74
FIGURE 42 ELECTRIC VEHICLE NEURAL NETWORK 75
5.7.1 EV CHARGING PROVIDERS 75
5.7.2 TIER I SUPPLIERS 75
5.7.3 OEMS 75
5.7.4 END USERS 75
TABLE 8 ELECTRIC VEHICLE MARKET: ROLE OF COMPANIES IN THE ECOSYSTEM 76
5.8 VALUE CHAIN ANALYSIS 77
FIGURE 43 VALUE CHAIN ANALYSIS OF THE ELECTRIC VEHICLE MARKET 78
5.9 ELECTRIC VEHICLE PRICING ANALYSIS 78
TABLE 9 ELECTRIC VEHICLE MARKET: PRICING OF POPULAR BEVS (US) 79
TABLE 10 ELECTRIC VEHICLE MARKET: PRICING OF POPULAR PHEVS (US) 80
5.10 TECHNOLOGY ANALYSIS 82
5.10.1 V2X CHARGING 82
5.10.2 SMART CHARGING SYSTEM 82
FIGURE 44 SMART EV CHARGING SYSTEM 82
5.10.3 SOLID-STATE BATTERY (SSB) 83
5.10.4 IOT IN ELECTRIC VEHICLES 83
5.11 PATENT ANALYSIS 83
5.12 CASE STUDY 88
5.12.1 NISSAN LEAF IN DURHAM COUNTY, NORTH CAROLINA 88
5.13 REGULATORY OVERVIEW 89
5.13.1 NETHERLANDS 90
TABLE 11 NETHERLANDS: INCENTIVES FOR ELECTRIC VEHICLES 90
TABLE 12 NETHERLANDS: ELECTRIC VEHICLE CHARGING STATION INCENTIVES 90
5.13.2 GERMANY 91
TABLE 13 GERMANY: ELECTRIC VEHICLE INCENTIVES 91
TABLE 14 GERMANY: ELECTRIC VEHICLE CHARGING STATION INCENTIVES 91
5.13.3 FRANCE 92
TABLE 15 FRANCE: ELECTRIC VEHICLE INCENTIVES 92
TABLE 16 FRANCE: ELECTRIC VEHICLE CHARGING STATION INCENTIVES 92
5.13.4 UK 93
TABLE 17 UK: ELECTRIC VEHICLE INCENTIVES 93
TABLE 18 UK: ELECTRIC VEHICLE CHARGING STATION INCENTIVES 93
5.13.5 CHINA 94
TABLE 19 CHINA: ELECTRIC VEHICLE INCENTIVES 94
TABLE 20 CHINA: ELECTRIC VEHICLE CHARGING STATION INCENTIVES 94
5.13.6 US 94
TABLE 21 US: ELECTRIC VEHICLE INCENTIVES 94
TABLE 22 US: ELECTRIC VEHICLE CHARGING STATION INCENTIVES 95
5.14 COVID-19 IMPACT ANALYSIS 95
5.14.1 IMPACT OF COVID-19 ON ELECTRIC VEHICLE PRODUCTION 95
5.15 ELECTRIC VEHICLE MARKET, SCENARIOS (2021–2030) 95
5.15.1 ELECTRIC VEHICLE MARKET, MOST LIKELY SCENARIO 96
FIGURE 45 ELECTRIC VEHICLE MARKET – FUTURE TRENDS & SCENARIOS,
2021–2030 (THOUSAND UNITS) 96
FIGURE 46 SCENARIO ANALYSIS 97
5.15.2 ELECTRIC VEHICLE MARKET, OPTIMISTIC SCENARIO 97
TABLE 23 ELECTRIC VEHICLE MARKET (OPTIMISTIC), BY REGION,
2021–2030 (THOUSAND UNITS) 98
5.15.3 ELECTRIC VEHICLE MARKET, PESSIMISTIC SCENARIO 98
TABLE 24 ELECTRIC VEHICLE MARKET (PESSIMISTIC), BY REGION,
2021–2030 (THOUSAND UNITS) 98
6 ELECTRIC VEHICLE MARKET, BY CHARGING POINT TYPE 99
6.1 INTRODUCTION 100
FIGURE 47 SUPER CHARGING SEGMENT IS PROJECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD (2021–2027) 100
TABLE 25 ELECTRIC VEHICLE MARKET, BY CHARGING POINT TYPE,
2017–2020 (THOUSAND UNITS) 101
TABLE 26 ELECTRIC VEHICLE MARKET, BY CHARGING POINT TYPE,
2021–2027 (THOUSAND UNITS) 101
6.2 OPERATIONAL DATA 102
TABLE 27 POPULAR EV CHARGING PROVIDERS ACROSS THE WORLD 102
6.2.1 ASSUMPTIONS 103
TABLE 28 ASSUMPTIONS: BY CHARGING POINT TYPE 103
6.3 RESEARCH METHODOLOGY 103
6.4 NORMAL CHARGING 103
6.4.1 INCREASED ADOPTION OF ELECTRIC VEHICLES EXPECTED TO BOOST DEMAND 104
TABLE 29 NORMAL CHARGING: ELECTRIC VEHICLE MARKET, BY REGION,
2017–2020 (THOUSAND UNITS) 104
TABLE 30 NORMAL CHARGING: ELECTRIC VEHICLE MARKET, BY REGION,
2021–2027 (THOUSAND UNITS) 104
6.5 SUPER CHARGING 105
6.5.1 DEMAND FOR FAST CHARGING POINTS EXPECTED TO BOOST THE DEMAND FOR SUPER CHARGING 105
TABLE 31 SUPER CHARGING: ELECTRIC VEHICLE MARKET, BY REGION,
2017–2020 (THOUSAND UNITS) 105
TABLE 32 SUPER CHARGING: ELECTRIC VEHICLE MARKET, BY REGION,
2021–2027 (THOUSAND UNITS) 106
6.6 INDUCTIVE CHARGING 106
6.7 KEY PRIMARY INSIGHTS 107
FIGURE 48 KEY PRIMARY INSIGHTS 107
7 ELECTRIC VEHICLE MARKET, BY COMPONENT 108
7.1 INTRODUCTION 108
7.2 BATTERY CELLS AND PACKS 108
7.3 ONBOARD CHARGER 109
7.4 MOTOR 109
7.5 REDUCER 109
7.6 POWER CONTROL UNIT 109
7.7 BATTERY MANAGEMENT SYSTEM 110
7.8 FUEL CELL STACK 110
7.9 FUEL PROCESSOR 110
7.10 POWER CONDITIONER 110
7.11 AIR COMPRESSOR 111
7.12 HUMIDIFIER 111
8 ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE 112
8.1 INTRODUCTION 113
TABLE 33 ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE,
2017–2020 (THOUSAND UNITS) 113
TABLE 34 ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE,
2021–2030 (THOUSAND UNITS) 113
FIGURE 49 FCEV SEGMENT IS PROJECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD (2021–2030) 114
8.2 OPERATIONAL DATA 114
TABLE 35 EVS ACROSS THE WORLD 114
8.2.1 ASSUMPTIONS 115
TABLE 36 ASSUMPTIONS: BY PROPULSION TYPE 115
8.3 RESEARCH METHODOLOGY 116
8.4 BATTERY ELECTRIC VEHICLE (BEV) 116
8.4.1 INCREASE IN VEHICLE RANGE PER CHARGE EXPECTED TO BOOST DEMAND 116
TABLE 37 BEV: ELECTRIC VEHICLE MARKET, BY REGION,
2017–2020 (THOUSAND UNITS) 116
TABLE 38 BEV: ELECTRIC VEHICLE MARKET, BY REGION,
2021–2030 (THOUSAND UNITS) 117
8.5 FUEL CELL ELECTRIC VEHICLE (FCEV) 117
8.5.1 DEMAND FOR ZERO EMISSION VEHICLES WILL UPLIFT THE MARKET 117
TABLE 39 FCEV: ELECTRIC VEHICLE MARKET, BY REGION,
2017–2020 (THOUSAND UNITS) 118
TABLE 40 FCEV: ELECTRIC VEHICLE MARKET, BY REGION,
2021–2030 (THOUSAND UNITS) 118
?
8.6 PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV) 119
8.6.1 GOVERNMENT PROVISION OF TAX BENEFITS AND INCENTIVES EXPECTED TO BOOST DEMAND 119
TABLE 41 PHEV: ELECTRIC VEHICLE MARKET, BY REGION,
2017–2020 (THOUSAND UNITS) 119
TABLE 42 PHEV: ELECTRIC VEHICLE MARKET, BY REGION,
2021–2030 (THOUSAND UNITS) 119
8.7 HYBRID ELECTRIC VEHICLE (HEV) 120
8.8 KEY PRIMARY INSIGHTS 121
9 ELECTRIC VEHICLE MARKET, BY VEHICLE CLASS 122
9.1 INTRODUCTION 123
TABLE 43 ELECTRIC VEHICLE MARKET SIZE, BY VEHICLE CLASS,
2017–2020 (THOUSAND UNITS) 123
TABLE 44 ELECTRIC VEHICLE MARKET SIZE, BY VEHICLE CLASS,
2021–2030 (THOUSAND UNITS) 123
FIGURE 50 LUXURY SEGMENT IS PROJECTED TO GROW AT A HIGHER CAGR
DURING THE FORECAST PERIOD (2021–2030) 124
9.2 OPERATIONAL DATA 124
TABLE 45 POPULAR EVS ACROSS THE WORLD 124
9.2.1 ASSUMPTIONS 125
TABLE 46 ASSUMPTIONS: BY VEHICLE CLASS TYPE 125
9.3 RESEARCH METHODOLOGY 125
9.4 MID-PRICED 126
9.4.1 DECREASE IN BATTERY PRICE EXPECTED TO BOOST DEMAND 126
TABLE 47 MID-PRICED: ELECTRIC VEHICLE MARKET SIZE, BY REGION,
2017–2020 (THOUSAND UNITS) 126
TABLE 48 MID-PRICED: ELECTRIC VEHICLE MARKET SIZE, BY REGION,
2021–2030 (THOUSAND UNITS) 126
9.5 LUXURY 127
9.5.1 DEMAND FOR HIGH END TECHNOLOGY EXPECTED TO BOOST DEMAND 127
TABLE 49 LUXURY: ELECTRIC VEHICLE MARKET SIZE, BY REGION,
2017–2020 (THOUSAND UNITS) 127
TABLE 50 LUXURY: ELECTRIC VEHICLE MARKET SIZE, BY REGION,
2021–2030 (THOUSAND UNITS) 127
9.6 KEY PRIMARY INSIGHTS 128
10 ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE 129
10.1 INTRODUCTION 130
TABLE 51 ELECTRIC VEHICLE MARKET SIZE, BY VEHICLE DRIVE TYPE,
2017–2020 (THOUSAND UNITS) 130
TABLE 52 ELECTRIC VEHICLE MARKET SIZE, BY VEHICLE DRIVE TYPE,
2021–2030 (THOUSAND UNITS) 130
FIGURE 51 REAR WHEEL DRIVE SEGMENT IS PROJECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD (2019–2030) 131
?
10.2 OPERATIONAL DATA 131
TABLE 53 POPULAR BEVS ACROSS THE WORLD 131
TABLE 54 POPULAR PHEVS ACROSS THE WORLD 133
10.2.1 ASSUMPTIONS 136
TABLE 55 ASSUMPTIONS: BY VEHICLE DRIVE TYPE 136
10.3 RESEARCH METHODOLOGY 136
10.4 FRONT WHEEL DRIVE (FWD) 136
TABLE 56 FRONT WHEEL DRIVE: ELECTRIC VEHICLE MARKET SIZE, BY REGION,
2017–2020 (THOUSAND UNITS) 137
TABLE 57 FRONT WHEEL DRIVE: ELECTRIC VEHICLE MARKET SIZE, BY REGION,
2021–2030 (THOUSAND UNITS) 137
10.5 REAR WHEEL DRIVE (RWD) 137
TABLE 58 REAR WHEEL DRIVE: ELECTRIC VEHICLE MARKET SIZE, BY REGION,
2017–2020 (THOUSAND UNITS) 138
TABLE 59 REAR WHEEL DRIVE: ELECTRIC VEHICLE MARKET SIZE, BY REGION,
2021–2030 (THOUSAND UNITS) 138
10.6 ALL WHEEL DRIVE (AWD) 138
TABLE 60 ALL WHEEL DRIVE: ELECTRIC VEHICLE MARKET SIZE, BY REGION,
2017–2020 (THOUSAND UNITS) 139
TABLE 61 ALL WHEEL DRIVE: ELECTRIC VEHICLE MARKET SIZE, BY REGION,
2021–2030 (THOUSAND UNITS) 139
10.7 KEY PRIMARY INSIGHTS 139
11 ELECTRIC VEHICLE MARKET, BY VEHICLE TOP SPEED 140
11.1 INTRODUCTION 141
TABLE 62 ELECTRIC VEHICLE MARKET SIZE, BY VEHICLE TOP SPEED,
2017–2020 (THOUSAND UNITS) 141
TABLE 63 ELECTRIC VEHICLE MARKET SIZE, BY VEHICLE TOP SPEED,
2021–2030 (THOUSAND UNITS) 141
FIGURE 52 >125 MPH SEGMENT IS PROJECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD (2021–2030) 142
11.2 OPERATIONAL DATA 142
TABLE 64 POPULAR AND UPCOMING EVS ACROSS THE WORLD 142
11.2.1 ASSUMPTIONS 144
TABLE 65 ASSUMPTIONS: BY VEHICLE TOP SPEED 144
11.3 RESEARCH METHODOLOGY 144
11.4 <125 MPH 145
11.4.1 DECREASE IN EV PRICE EXPECTED TO BOOST DEMAND 145
TABLE 66 <125 MPH: ELECTRIC VEHICLE MARKET SIZE, BY REGION,
2017–2020 (THOUSAND UNITS) 145
TABLE 67 <125 MPH: ELECTRIC VEHICLE MARKET SIZE, BY REGION,
2021–2030 (THOUSAND UNITS) 145
11.5 >125 MPH 146
11.5.1 DEMAND FOR HIGH END VEHICLE EXPECTED TO BOOST DEMAND 146
TABLE 68 >125 MPH: ELECTRIC VEHICLE MARKET SIZE, BY REGION,
2017–2020 (THOUSAND UNITS) 146
TABLE 69 >125 MPH: ELECTRIC VEHICLE MARKET SIZE, BY REGION,
2021–2030 (THOUSAND UNITS) 146
11.6 KEY PRIMARY INSIGHTS 147
12 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE 148
12.1 INTRODUCTION 149
TABLE 70 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (THOUSAND UNITS) 149
TABLE 71 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE,
2021–2030 (THOUSAND UNITS) 149
FIGURE 53 COMMERCIAL VEHICLE SEGMENT IS PROJECTED TO GROW AT THE HIGHER CAGR DURING THE FORECAST PERIOD (2021–2030) 150
12.2 OPERATIONAL DATA 150
TABLE 72 POPULAR EVS GLOBALLY 150
12.2.1 ASSUMPTIONS 151
TABLE 73 ASSUMPTIONS: BY VEHICLE TYPE 151
12.3 RESEARCH METHODOLOGY 151
12.4 PASSENGER CAR (PC) 152
12.4.1 GROWING EMISSION NORMS WILL BOOST THE DEMAND 152
TABLE 74 PASSENGER CAR: ELECTRIC VEHICLE MARKET, BY REGION,
2017–2020 (THOUSAND UNITS) 152
TABLE 75 PASSENGER CAR: ELECTRIC VEHICLE MARKET, BY REGION,
2021–2030 (THOUSAND UNITS) 153
12.5 COMMERCIAL VEHICLES (CV) 153
12.5.1 GROWTH OF E-COMMERCE AND LOGISTICS EXPECTED TO BOOST DEMAND 153
TABLE 76 COMMERCIAL VEHICLES: ELECTRIC VEHICLE MARKET, BY REGION,
2017–2020 (THOUSAND UNITS) 154
TABLE 77 COMMERCIAL VEHICLES: ELECTRIC VEHICLE MARKET, BY REGION,
2021–2030 (THOUSAND UNITS) 154
12.6 KEY PRIMARY INSIGHTS 154
13 ELECTRIC VEHICLE MARKET, BY V2G 155
13.1 INTRODUCTION 155
TABLE 78 ELECTRIC VEHICLE MARKET, BY V2G, 2017–2020 (THOUSAND UNITS) 155
TABLE 79 ELECTRIC VEHICLE MARKET, BY V2G, 2021–2027 (THOUSAND UNITS) 155
TABLE 80 ELECTRIC VEHICLE MARKET, BY V2G, 2017–2020 (USD MILLION) 155
TABLE 81 ELECTRIC VEHICLE MARKET, BY V2G, 2021–2027 (USD MILLION) 155
13.2 V2B OR V2H 156
13.3 V2G 156
13.4 V2V 156
13.5 V2X 156
?
14 ELECTRIC VEHICLE MARKET, BY REGION 157
14.1 INTRODUCTION 158
FIGURE 54 ASIA PACIFIC IS PROJECTED TO BE THE LARGEST MARKET FOR ELECTRIC VEHICLES DURING THE FORECAST PERIOD (2021–2030) 159
TABLE 82 ELECTRIC VEHICLE MARKET, BY REGION, 2017–2020 (THOUSAND UNITS) 159
TABLE 83 ELECTRIC VEHICLE MARKET, BY REGION, 2021–2030 (THOUSAND UNITS) 159
14.2 ASIA PACIFIC 160
FIGURE 55 ASIA PACIFIC: PASSENGER CAR ELECTRIC VEHICLE MARKET SNAPSHOT, 2021-2030 161
TABLE 84 ASIA PACIFIC: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY, 2017–2020 (THOUSAND UNITS) 161
TABLE 85 ASIA PACIFIC: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY, 2021–2030 (THOUSAND UNITS) 162
14.2.1 CHINA 162
14.2.1.1 Increased investments in charging infrastructure expected to lead to market growth 162
TABLE 86 CHINA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS) 163
TABLE 87 CHINA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS) 163
14.2.2 INDIA 164
14.2.2.1 ABB setup of electric vehicle charger facilities expected to boost demand 164
TABLE 88 INDIA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS) 164
TABLE 89 INDIA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS) 164
14.2.3 JAPAN 165
14.2.3.1 Advancements in battery technology to boost demand 165
TABLE 90 JAPAN: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS) 165
TABLE 91 JAPAN: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS) 165
14.2.4 SOUTH KOREA 166
14.2.4.1 Increased investments in electric vehicles to boost demand 166
TABLE 92 SOUTH KOREA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS) 166
TABLE 93 SOUTH KOREA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS) 166
14.3 EUROPE 167
FIGURE 56 EUROPE: GERMANY EXPECTED TO LEAD EV SALES DURING 2021-2030 168
TABLE 94 EUROPE: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY,
2017–2020 (THOUSAND UNITS) 168
TABLE 95 EUROPE: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY COUNTRY,
2021–2030 (THOUSAND UNITS) 169
?
14.3.1 FRANCE 169
14.3.1.1 Government offering purchase grants to boost demand 169
TABLE 96 FRANCE: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS) 170
TABLE 97 FRANCE: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS) 170
14.3.2 GERMANY 170
14.3.2.1 Rising sales of hybrid vehicles by domestic players to boost demand 170
TABLE 98 GERMANY: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS) 171
TABLE 99 GERMANY: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS) 171
14.3.3 NETHERLANDS 171
14.3.3.1 Government focus towards greener vehicles to boost demand 171
TABLE 100 NETHERLANDS: PASSENGER CAR ELECTRIC VEHICLE MARKET,
BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS) 172
TABLE 101 NETHERLANDS: PASSENGER CAR ELECTRIC VEHICLE MARKET,
BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS) 172
14.3.4 NORWAY 172
14.3.4.1 Emergence of e-mobility to boost demand 172
TABLE 102 NORWAY: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS) 173
TABLE 103 NORWAY: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS) 173
14.3.5 SWEDEN 173
14.3.5.1 Strong existing charging infrastructure to boost demand 173
TABLE 104 SWEDEN: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS) 174
TABLE 105 SWEDEN: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS) 174
14.3.6 UK 174
14.3.6.1 Country’s investment in ultra-low emission vehicles to boost demand 174
TABLE 106 UK: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS) 175
TABLE 107 UK: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS) 175
14.3.7 DENMARK 176
14.3.7.1 Government promotion of private infrastructure to boost demand 176
TABLE 108 DENMARK: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS) 176
TABLE 109 DENMARK: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS) 176
14.3.8 AUSTRIA 177
14.3.8.1 Move towards cleaner vehicles to boost demand 177
TABLE 110 AUSTRIA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS) 177
TABLE 111 AUSTRIA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS) 177
14.3.9 SWITZERLAND 178
14.3.9.1 Country focus towards expansion of electric vehicle charging infrastructure 178
TABLE 112 SWITZERLAND: PASSENGER CAR ELECTRIC VEHICLE MARKET,
BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS) 178
TABLE 113 SWITZERLAND: PASSENGER CAR ELECTRIC VEHICLE MARKET,
BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS) 178
14.3.10 SPAIN 179
14.3.10.1 Increasing investments in FCEVs to uplift the market 179
TABLE 114 SPAIN: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS) 179
TABLE 115 SPAIN: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS) 179
14.4 NORTH AMERICA 180
FIGURE 57 NORTH AMERICA: PASSENGER CAR ELECTRIC VEHICLE MARKET SNAPSHOT 181
TABLE 116 NORTH AMERICA: PASSENGER CAR ELECTRIC VEHICLE MARKET,
BY COUNTRY, 2017–2020 (THOUSAND UNITS) 181
TABLE 117 NORTH AMERICA: PASSENGER CAR ELECTRIC VEHICLE MARKET,
BY COUNTRY, 2021–2030 (THOUSAND UNITS) 182
14.4.1 CANADA 182
14.4.1.1 Increasing development in electric vehicle infrastructure to boost demand 182
TABLE 118 CANADA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS) 182
TABLE 119 CANADA: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS) 183
14.4.2 US 183
14.4.2.1 Increasing production capacity of electric vehicles to uplift the market 183
TABLE 120 US: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (THOUSAND UNITS) 183
TABLE 121 US: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (THOUSAND UNITS) 184
14.5 MIDDLE EAST & AFRICA 184
FIGURE 58 EGYPT TO BE THE FASTEST-GROWING MARKET IN THE MEA REGION 185
TABLE 122 MIDDLE EAST & AFRICA: PASSENGER CAR ELECTRIC VEHICLE MARKET,
BY COUNTRY, 2017–2020 (UNITS) 185
TABLE 123 MIDDLE EAST & AFRICA: PASSENGER CAR ELECTRIC VEHICLE MARKET,
BY COUNTRY, 2021–2030 (UNITS) 185
14.5.1 UAE 186
14.5.1.1 Government support to increase EV demand in the market 186
TABLE 124 UAE: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (UNITS) 186
TABLE 125 UAE: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (UNITS) 186
14.5.2 EGYPT 187
14.5.2.1 Increasing development in electric vehicle infrastructure to boost demand 187
TABLE 126 EGYPT: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2017–2020 (UNITS) 187
TABLE 127 EGYPT: PASSENGER CAR ELECTRIC VEHICLE MARKET, BY PROPULSION TYPE, 2021–2030 (UNITS) 187
14.5.3 SOUTH AFRICA 188
14.5.3.1 Increasing EV imports and popularization of EV charging stations to increase market 188
TABLE 128 SOUTH AFRICA: PASSENGER CAR ELECTRIC VEHICLE MARKET,
BY PROPULSION TYPE, 2017–2020 (UNITS) 188
TABLE 129 SOUTH AFRICA: PASSENGER CAR ELECTRIC VEHICLE MARKET,
BY PROPULSION TYPE, 2021–2030 (UNITS) 188
15 COMPETITIVE LANDSCAPE 189
15.1 OVERVIEW 189
15.2 MARKET SHARE ANALYSIS OF THE ELECTRIC VEHICLE MARKET 189
TABLE 130 MARKET SHARE ANALYSIS, 2020 189
FIGURE 59 MARKET SHARE ANALYSIS 190
FIGURE 60 REVENUE ANALYSIS FOR THE TOP FIVE COMPANIES, 2020 191
15.3 COMPETITIVE SCENARIO 191
15.3.1 DEALS 192
TABLE 131 DEALS, 2018–2021 192
15.3.2 NEW PRODUCT DEVELOPMENTS 199
TABLE 132 NEW PRODUCT DEVELOPMENTS, 2018–2021 199
15.3.3 OTHERS, 2018–2021 206
TABLE 133 EXPANSIONS, 2018–2021 206
15.4 COMPETITIVE LEADERSHIP MAPPING FOR THE ELECTRIC VEHICLE MARKET 209
15.4.1 STARS 209
15.4.2 EMERGING LEADERS 209
15.4.3 PERVASIVE 209
15.4.4 EMERGING COMPANIES 209
FIGURE 61 ELECTRIC VEHICLE MARKET: COMPETITIVE LEADERSHIP MAPPING FOR
TOP ELECTRIC VEHICLE MANUFACTURERS, 2021 210
TABLE 134 ELECTRIC VEHICLE MARKET: COMPANY FOOTPRINT FOR TOP EV MANUFACTURERS, 2021 211
TABLE 135 ELECTRIC VEHICLE MARKET: COMPANY APPLICATION FOOTPRINT FOR
TOP EV MANUFACTURERS, 2021 212
TABLE 136 ELECTRIC VEHICLE MARKET: REGIONAL FOOTPRINT FOR EV MANUFACTURERS, 2021 213
FIGURE 62 ELECTRIC VEHICLE MARKET: COMPETITIVE LEADERSHIP MAPPING FOR
NEW PLAYERS, 2021 214
?
15.5 RIGHT TO WIN, 2018-2021 215
TABLE 137 RIGHT TO WIN, 2018-2021 215
16 COMPANY PROFILES 216
16.1 KEY PLAYERS 216
(Business overview, Products offered, Recent Developments, SWOT analysis, MNM view)*
16.1.1 TESLA 216
TABLE 138 TESLA: BUSINESS OVERVIEW 216
FIGURE 63 TESLA: COMPANY SNAPSHOT 217
TABLE 139 TESLA: PRODUCTS OFFERED 217
TABLE 140 TESLA: NEW PRODUCT DEVELOPMENTS 218
TABLE 141 TESLA: DEALS 218
TABLE 142 TESLA: OTHERS 219
16.1.2 BYD 221
TABLE 143 BYD: BUSINESS OVERVIEW 221
FIGURE 64 BYD: COMPANY SNAPSHOT 222
TABLE 144 BYD: PRODUCTS OFFERED 222
TABLE 145 BYD: NEW PRODUCT DEVELOPMENTS 223
TABLE 146 BYD: DEALS 224
TABLE 147 BYD: OTHERS 224
16.1.3 VOLKSWAGEN AG 227
TABLE 148 VOLKSWAGEN AG: BUSINESS OVERVIEW 227
FIGURE 65 VOLKSWAGEN AG: COMPANY SNAPSHOT 228
TABLE 149 VOLKSWAGEN AG: PRODUCTS OFFERED 228
TABLE 150 VOLKSWAGEN AG: NEW PRODUCT DEVELOPMENTS 229
TABLE 151 VOLKSWAGEN AG: DEALS 230
TABLE 152 VOLKSWAGEN AG: OTHERS 231
16.1.4 BMW GROUP 233
TABLE 153 BMW GROUP: BUSINESS OVERVIEW 233
FIGURE 66 BMW GROUP: COMPANY SNAPSHOT 234
TABLE 154 BMW GROUP: PRODUCTS OFFERED 234
TABLE 155 BMW GROUP: NEW PRODUCT DEVELOPMENTS