“Availability of government support such as subsidies and tax rebates, increasing consumer awareness, increasing vehicle range and low charging time has driven the demand for EVs globally”
EV sales is estimated to grow at a CAGR of 20.68% to reach 5.76 million unit by 2021. Government subsidies and tax rebates, variety of EV models, increasing vehicle range and improving charging infrastructure are the factors responsible for the growth of in sales of EVs.
Electric passenger car segment is the fastest growing segment
Electric passenger cars are the fastest growing segment in the EV market as they are showing a significant growth as compared to the commercial vehicle segment. Availability of broad range of models, upgraded technology, increasing customer awareness and availability of subsidies and tax rebates are the major factors driving the market.
Asia–Pacific dominates the EV market in terms of sales
The Asia-Pacific is the largest market for the EVs followed by North America. Existing grants and subsides, tax rebates, and availability of charging infrastructure are contributing to the growth in EV sales in this region. Japan and China are emerging as the biggest markets for EVs and production and many OEMs have setup production facilities to cater to the growing demand.
The study contains insights provided by various industry experts, ranging from online retailers to Tier–1 companies and OEMs. The break–up of the primaries is as follows:
- By Company Type: Tier I–42%, Tier II–40% and Tier III–18%,
- By Designation: C Level–26%, D Level–38% and Others–36%
- By Region: North America–30%, Europe–38%, Asia–Pacific–32%
Players Profiled in the Report are:
- Tesla Motors Inc. (U.S.)
- Nissan Motor Corporation (Japan)
- BYD Company Limited (China)
- LG Chem (South Korea)
- Delphi Automotive (U.K.)
- Panasonic Corporation (Japan)
- Volkswagen AG (Germany)
- Car Charging Group (U.S.)
- Samsung SDI (South Korea)
- Automotive Energy Supply Corporation (Japan)
- Charge Point Inc. (U.S.)
The report provides a picture of global EV sales and EV infrastructure market along with the market details for EV Components with respect .to. different regions and countries. It aims at estimating the market size and future growth potential of this market across different segments such as by propulsion type, vehicle type, charging station type, EV components, industry verticals, and regions. Apart from it, the report also covers the government regulations regarding the subsidies and grants available for EVs, future technology roadmap which includes battery and charging time, safety and EV battery disposal regulations for all the countries mentioned in the report. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall EV, EV Infrastructure and EV components market and their subsegments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.