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With the emergence and rapid advancement of new technology and the increasing level of human dependency on it, one big re-introduction that the global market has witnessed since the beginning of the 21st century is that of the Electric Vehicles Industry. Electric vehicles which are basically vehicles that derive some or all of their power from electricity generated in grids that can be both external and internal depending on their build. The EV industry which saw a major decline in the mid 20th century because of the mass introduction of the Internal Combustion Engines (ICE) is projected to reach 26,951,318 units by 2030 from an estimated 3,269,671 units in 2019, at a whooping CAGR of 21.1%.
The growth of this industry is attributed towards the growth of its ecosystem and the automobile sector. The ecosystem here includes but is not limited to manufacturer, build-type, charging infrastructure, battery technology, standardization, government schemes and policies, utilities and services.
Increasing prices of fuel and majorly the global and united focus towards the various obvious environmental concerns and emission-control movements which are scaling up tremendously have led India to be the first country to announce plans to ambitiously achieve the feat of completely eradicating the use of gas and petroleum based engines by somewhere around 2030-2040. Several other countries including the UK, France, Germany, Ireland, and Japan have set estimated targets to join the league.
Considerably, it is to no one’s doubt today that the company which first realized the importance of an ecosystem to support its future and present EVs is none other than Elon Musk’s Tesla. With the introduction of coast to coast supercharging network, home battery storage and chargers, over the air software enhancements and mobile repair service, Tesla has been very effective and efficient in its approach towards its standing today.
Correspondingly, companies like Ford Motors and other realized this and built over a comprehensive ecosystem which has enabled them to put their hands into the mainstream competition today.
Furthermore, it is pretty much evident from the present market scenarios that though the EV market globally has been on a rise and will continue to do so at least until the global targets are solitarily met, but there are challenges in terms of consistent and effective ecosystem building and its access to masses with equitable and affordable prices that need to be addressed. Consequently, over the past few years, considerable amount of growth in the respective areas are already taking a leap.
ELECTRIC VEHICLE ECOSYSTEM MARKET SEGMENTATION:
Based on Vehicle Type:
Based on Propulsion Type:
Based on Components (Qualitative):
Based on the Charging Station Type:
Based on Vehicle Class:
Based on Power Output:
Based on the Region:
KEY REGIONAL INSIGHTS:
The Asia Pacific market is the fastest growing market, followed by the other two markets. Where, the automotive industry in the countries such as, Japan and South Korea is inclined toward innovation, technology, and development of advanced electric vehicle; In May, 2017, Indian government’s purchase of 10,000 electric vehicles, hailed as "the world's single-largest EV procurement initiative”. China, one of the leading countries for the mid-priced segment is currently at No. 1 in terms of unit sales rankings of EVs. The commercial vehicle segment is expected to be the fastest growing market. With increasing adoption of electric buses, particularly in China and India, the growth of the electric commercial segment has been significant in the region.
With Norway topping the charts in the European region in terms of share of plug-in EVs in total passenger car and light-vehicle sales, it stands at just below 50% which is in no way near to any country’s reach. This is because of their government’s commitment to zero emissions and mission for all new cars to have the same by 2025. The US in the North American region on the other hand, though being the second largest country in terms of global market reach, has only above 2% share.
KEY MARKET PLAYERS:
Timeline Considered for Analysis:
- 2019: Base Year
- 2019 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global Electric Vehicle Ecosystem market by the following segments:
- Vehicle Type
- Propulsion Type
- Charging Station
- Distribution Channel
- Components (Qualitative)
- Charging Station Type
- Vehicle Class
- Power Output
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Electric Vehicle Ecosystem Industry Report
The report offers a comprehensive insight on the Electric Vehicle Ecosystem Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
We offer customizations as per client’s specific needs.