Growing environmental awareness and increasing government initiatives regarding the adoption of Electric Vehicles are driving the demand of the market.

SURREY, BRITISH COLUMBIA, CANADA , December 2, 2021 /EINPresswire.com/ -- The global Electric Vehicles Market is expected to reach USD 793.24 Billion by 2027, according to a new report by Emergen Research. The rising demand for the Electric Vehicles products is expected to drive the demand for Electric Vehicles , thereby bolstering the growth of the industry Asia-Pacific has the highest adoption rate in the market due to the increasing urban population in countries such as China, Malaysia, India, and Indonesia and the increasing disposable income of the consumers. Growing environmental awareness and increasing government initiatives regarding the adoption of Electric Vehicles are driving the demand of the market. The report also talks about the shift in demands and emerging trends that are expected to drive the growth of the market.. The Battery Electric Vehicles (BEV) segment dominated the market with a share of 48.5% in 2019 due to its higher efficiencies and decreasing prices of the battery. The report also covers strategic business measures undertaken by the companies to gain substantial market share. Electric Vehicles Market Size – USD 160.34 billion in 2019, Market Growth - CAGR of 22.2%, Market Trends –Growing environmental awareness. It has also brought an economic slowdown that has affected the business of the key manufacturers of the industry. The report estimates the impact of this crisis on the current scenario and future prospects and provides a post-COVID market scenario.

It offers fruitful insights into the business sphere to help businesses capitalize on the lucrative growth opportunities. The Commercial Vehicle is expected to register the highest CAGR of 23.0% over the forecast period as the government of the developing countries is replacing the fuel-based bus with electric buses in order to reduce the CO2 emission. The report discusses in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats, and demands of the Electric Vehicles market. The liquidity shortfall and the cash crisis have already affected the sales of the product. The study further assesses the regional market as well as the international market to garner an insight into the scope of the market. The report also offers estimations and predictions about the market segment and sub-segments exhibiting promising growth in the forecast timeline. Plug-in Hybrid Electric Vehicles (PHEV) is expected to register significant growth over the forecast period due to the increasing government initiatives of developing nations to promote the manufacturing of the Electric Vehicles. The growth of this market can be attributed due to the growing environmental awareness among consumers and increasing government initiatives regarding the adoption of Electric Vehicles to reduce the emission levels in the environment.

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Key participants include Volkswagen Group, Tesla Motors, BYD Company Ltd., Ford Motor Company, Nissan Motor Company, Toyota Motor Corporation, Daimler AG, BMW, Mitsubishi Motors Corporation, and Hyundai, among others.

Emergen Research has segmented the global Electric Vehicles Market on the basis of Product, Vehicle Type, Vehicle Class, and region:

Vehicle Class Outlook (Revenue, USD Billion; 2017-2027)
• Luxury
• Mid-Priced

Product Outlook (Revenue, USD Billion; 2017-2027)
• Plug-in hybrid electric vehicle (PHEV)
• Battery electric vehicle (BEV)
• Hybrid electric vehicle (HEV)
• Fuel cell electric vehicle (FCEV)

Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)
• Commercial Vehicle
• Two wheeler
• Passenger Car

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Regional Analysis of the Electric Vehicles Market:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Highlights of the Table of Contents:

Electric Vehicles Market Study Coverage: It includes key market segments, key manufacturers covered, the scope of products offered in the years considered, globalElectric Vehicles market and study objectives. It also covers the segmentation studies provided in the report based on the type of product and application.

Electric Vehicles Market Production by Region: The report delivers data related to import and export, revenue, production, and key players of all regional markets studied are covered in this section.

Electric Vehicles Market Profile of Manufacturers: Analysis of each market player profiled is detailed in this section. This segment also provides SWOT analysis, product, production, value, capacity, and other important factors for individual players.

Market Taxonomy:
Chapter 1: Methodology & Scope
• Definition and forecast parameters
• Methodology and forecast parameters
• Data Sources

Chapter 2:
Executive Summary
• Business trends
• Regional trends
• Product trends
• End-use trends

Chapter 3:
Industry Insights
• Industry segmentation
• Industry landscape
• Vendor matrix
• Technological and innovation landscape

Chapter 4:
Regional Landscape

Chapter 5:
Company Profile
• Business Overview
• Financial Data
• Product Landscape
• Strategic Outlook

To get access to the complete report on the Electric Vehicles market, click on the link mentioned here:
https://www.emergenresearch.com/industry-report/electric-vehicles-market

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