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The report is titled as ‘Electric Cars Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the Electric Cars market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The Electric Cars market is expected to grow at a significant rate in the near future.
The global electric cars market is estimated to reach at a value of US$ 7.1 Bn by the end of 2020 and expected to reach at a value of US$ 172.5 Bn by 2028 with a significant CAGR of 49.1%
The concept of electric cars is not something new. Noticeably, the automobiles, equipped with an electric motor, were manufactured before inventing cars with an internal combustion engine. The initial models of vehicles, which were created in 1830-1840 used to be deceptive and ponderous units which moved at extremely low speed. In present times, even more, than a century later, polluting petrol and diesel cars still dominate sales worldwide but fortunately there are hopeful predictions that year 2021 could prove the start of an enduring electric future.
Although in recent decades, the idea of electric cars has advanced at an accelerated pace. In the modern-day world, electric cars are considered more than a peculiar means of transit. They have been acknowledged as a crucial core element of the energy transition. Electric vehicles have been identified as being a leading technology in depleting future harmful emissions and energy consumption in the automobile sector.
Electric cars operate at least on electricity to some extent. In contrast with the conventional vehicles that employ a diesel or gasoline-powered engine, electric cars use an electric motor powered by electricity from fuel cells or batteries.
Though not all electric cars or electric vehicles work the same way, but in terms of greenhouse gas emissions and air pollution, electric cars are often safer and cleaner for the environment than even the most efficient conventional vehicles.
The expeditiously rising deterioration of the environment and surroundings due to surging levels of pollution, degrading air quality, global warming, reduced atmospheric visibility, and many other concerns is one of the fundamental drivers that is boosting the evolution of electric cars in the global markets. According to the 2012 report of the Union of Concerned Scientists, driving an average electric car concludes in reduced global warming emissions than driving a gasoline-fueled car that gets 50 miles per gallon (MPG) in regions covering two-thirds of the U.S. population, up from 45 percent.
Owing to which, the global electric cars market is projected to gain huge momentum in the forthcoming years. In the same spirit, there has been soaring demand among consumers for high-performance and superior quality cars across the world along with fuel-efficiency and more convenience, and electric cars with all its potential are competent enough to meet all the needs of consumers, worldwide.
Electric cars have the abundant capability of outdoing the traditional cars, providing reduced carbon emissions as well as maintenance, escalated fuel economy, highly convenient in charging, smooth drive, as well as reduced sound from the engine. Attributable to which, the global electric cars market is projected to accelerate rapidly in the years to come.
Apart from that, there has been a constant support for the development of a lasting electric future, keeping in mind the increasingly growing levels of environmental issues across the world. Also, there has been stringent regulations for low-emission vehicles, which further positively fuel the growth of the global electric cars market in the near future.
Driven with which, the market giant US-based Tesla is all set to introduce its electric cars in India, beginning with sales and then considering to start assembling in India if the demand requires. Also, Mercedes-Benz is also taking on one of the biggest industry challenges with the rollout of its battery-powered EQA: selling small electric cars without a big profit squeeze. Owing to such factors, the global electric cars market is anticipated to witness substantial growth over the coming years.
The research report classifies the global electric cars market based on propulsion type, charging station type, vehicle class, and regions.
Battery Electric Vehicle (BEV)
Plug In Hybrid Electric Vehicle (PHEV)
Normal Charging
Super Charging
Mid-Priced
Luxury
North America
Latin America
Africa
Europe
Asia Pacific
Middle East
The global Electric Cars market is dominated by Tesla Inc., Toyota Motor Corp., BMW, MG, Volkswagen, General Motors Co., BYD Co. Ltd., BAIC Motor Corp. Ltd., SAIC Motor Corp. Ltd., Geely Automobile Holdings Ltd., Chery Automobile Co. Ltd., Anhui Jianghuai Automobile Co. Ltd. (JAC Motors), and Changan Automobile Co. Ltd., among others.
The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.
A research report on the Electric Cars market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
New product designs and launches
Current product compliance
Reimbursement
Concerns for use of Electric Cars
Advantages of Electric Cars
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.
1. Global Electric Cars Market Report Overview
1.1. Introduction
1.2. Report Description
1.3. Methodology
2. Global Electric Cars Market Overview
2.1. Introduction
2.1.1. Market Definition
2.1.2. Market Taxonomy
2.2. Executive Summary
2.3. Global Electric Cars Market Snapshot
2.4. Global Electric Cars Market Size And Forecast, 2020–2028
2.4.1. Introduction
2.4.2. Market Value Forecast And Annual Growth Rate (AGR) Comparison (2020–2028)
2.5. Global Electric Cars Market Dynamics
2.5.1. Drivers
2.5.2. Restraints
2.5.3. Opportunity
2.5.4. Trends
2.6. Key Regulations
2.7. Porter’s Five Forces Model
3. Electric Vehicles Assessment and Analysis
3.1. Actions to encourage use of Electric Vehicles Technology
3.2. Electric Vehicles Promotional Strategy Recommendation
3.3. Road Map Analysis
3.4. GAP Analysis
3.5. Potential Analysis
4. Covid-19 Impact on Electric Cars Market in 2020
4.1. Impact Analysis of Covid-19 on the global Electric Cars Market
4.2. Effect On Value Chain
4.3. Business Impact W.R.T Revenue
4.4. Fluctuation In Production
4.5. Volatility In Price
4.6. Effect On The Overall Trade
4.7. Market Impact Analysis In 2020 (Quarter Wise)
5. Global Electric Cars Market, By Propulsion Type
5.1. Introduction
5.1.1. Annual Growth Rate Comparison, By Propulsion Type
5.1.2. BPS Analysis, By Propulsion Type
5.2. Market Revenue (US$Mn) Forecast, By Propulsion Type
5.2.1. Battery Electric Vehicle (BEV)
5.2.2. Plug-In Hybrid Electric Vehicle (PHEV)
5.3. Global Electric Cars Market Attractiveness Index, By Propulsion Type
6. Global Electric Cars Market, By Charging Station Type
6.1. Introduction
6.1.1. Annual Growth Rate Comparison, By Charging Station Type
6.1.2. BPS Analysis, By Charging Station Type
6.2. Market Revenue (US$Mn) Forecast, By Charging Station Type
6.2.1. Normal Charging
6.2.2. Super Charging
6.3. Global Electric Cars Market Attractiveness Index, By Charging Station Type
7. Global Electric Cars Market, By Vehicle Class
7.1. Introduction
7.1.1. Annual Growth Rate Comparison, By Vehicle Class
7.1.2. BPS Analysis, By Vehicle Class
7.2. Market Revenue (US$Mn) Forecast, By Vehicle Class
7.2.1. Mid-Priced
7.2.2. Luxury
7.3. Global Electric Cars Market Attractiveness Index, By Vehicle Class
8. Global Electric Cars Market, By Region
8.1. Introduction
8.1.1. Annual Growth Rate Comparison, By Region
8.1.2. BPS Analysis, By Region
8.2. Market Revenue (US$Mn) Forecast, By Region
8.2.1. North America
8.2.2. Latin America
8.2.3. Europe
8.2.4. Asia Pacific
8.2.5. Middle East
8.2.6. Africa
8.3. Global Electric Cars Market Attractiveness Index, By Region
9. North America Electric Cars Market Analysis and Forecast, 2020–2028
9.1. Introduction
9.1.1. Annual Growth Rate Comparison, By Country
9.1.2. BPS Analysis, By Country
9.2. Market Revenue (US$Mn) Forecast, By Country
9.2.1. U.S. Electric Cars Market
9.2.2. Canada Electric Cars Market
9.3. North America Electric Cars Market Revenue (US$Mn) Forecast, By Propulsion Type
9.3.1. Battery Electric Vehicle (BEV)
9.3.2. Plug-In Hybrid Electric Vehicle (PHEV)
9.4. North America Electric Cars Market Revenue (US$Mn) Forecast, By Charging Station Type
9.4.1. Normal Charging
9.4.2. Super Charging
9.5. North America Electric Cars Market Revenue (US$Mn) Forecast, By Vehicle Class
9.5.1. Mid-Priced
9.5.2. Luxury
9.6. North America Electric Cars Market Attractiveness Index
9.6.1. By Country
9.6.2. By Charging Station Type
9.6.3. By Propulsion Type
9.6.4. By Vehicle Class
10. Latin America Electric Cars Market Analysis and Forecast, 2020–2028
10.1. Introduction
10.1.1. Annual Growth Rate Comparison, By Country
10.1.2. BPS Analysis, By Country
10.2. Market (US$Mn) Forecast, By Country
10.2.1. Brazil Electric Cars Market
10.2.2. Mexico Electric Cars Market
10.2.3. Argentina Electric Cars Market
10.2.4. Rest Of Latin America Electric Cars Market
10.3. Latin America Electric Cars Market Revenue (US$Mn) Forecast, By Propulsion Type
10.3.1. Battery Electric Vehicle (BEV)
10.3.2. Plug-In Hybrid Electric Vehicle (PHEV)
10.4. Latin America Electric Cars Market Revenue (US$Mn) Forecast, By Charging Station Type
10.4.1. Normal Charging
10.4.2. Super Charging
10.5. Latin America Electric Cars Market Revenue (US$Mn) Forecast, By Vehicle Class
10.5.1. Mid-Priced
10.5.2. Luxury
10.6. Latin America Electric Cars Market Attractiveness Index
10.6.1. By Country
10.6.2. By Charging Station Type
10.6.3. By Propulsion Type
10.6.4. By Vehicle Class
11. Europe Electric Cars Market Analysis and Forecast, 2020–2028
11.1. Introduction
11.1.1. Annual Growth Rate Comparison, By Country
11.1.2. BPS Analysis, By Country
11.2. Market (US$Mn) Forecast, By Country
11.2.1. U.K. Electric Cars Market
11.2.2. Germany Electric Cars Market
11.2.3. Italy Electric Cars Market
11.2.4. France Electric Cars Market
11.2.5. Spain Electric Cars Market
11.2.6. Russia Electric Cars Market
11.2.7. Poland Electric Cars Market
11.2.8. BENELUX Electric Cars Market
11.2.9. NORDIC Electric Cars Market
11.2.10. Rest Of Europe Electric Cars Market
11.3. Europe Electric Cars Market Revenue (US$Mn) Forecast, By Propulsion Type
11.3.1. Battery Electric Vehicle (BEV)
11.3.2. Plug-In Hybrid Electric Vehicle (PHEV)
11.4. Europe Electric Cars Market Revenue (US$Mn) Forecast, By Charging Station Type
11.4.1. Normal Charging
11.4.2. Super Charging
11.5. Europe Electric Cars Market Revenue (US$Mn) Forecast, By Vehicle Class
11.5.1. Mid-Priced
11.5.2. Luxury
11.6. Europe Electric Cars Market Attractiveness Index
11.6.1. By Country
11.6.2. By Charging Station Type
11.6.3. By Propulsion Type
11.6.4. By Vehicle Class
12. Asia Pacific Electric Cars Market Analysis and Forecast, 2020–2028
12.1. Introduction
12.1.1. Annual Growth Rate Comparison, By Country
12.1.2. BPS Analysis, By Country
12.2. Market (US$Mn) Forecast, By Country
12.2.1. China Electric Cars Market
12.2.2. India Electric Cars Market
12.2.3. Japan Electric Cars Market
12.2.4. Australia and New Zealand Electric Cars Market
12.2.5. South Korea Electric Cars Market
12.2.6. ASEAN Electric Cars Market
12.2.7. Rest of Asia Pacific Electric Cars Market
12.3. Asia Pacific Electric Cars Market Revenue (US$Mn) Forecast, By Propulsion Type
12.3.1. Battery Electric Vehicle (BEV)
12.3.2. Plug-In Hybrid Electric Vehicle (PHEV)
12.4. Asia Pacific Electric Cars Market Revenue (US$Mn) Forecast, By Charging Station Type
12.4.1. Normal Charging
12.4.2. Super Charging
12.5. Asia Pacific Electric Cars Market Revenue (US$Mn) Forecast, By Vehicle Class
12.5.1. Mid-Priced
12.5.2. Luxury
12.6. Asia Pacific Electric Cars Market Attractiveness Index
12.6.1. By Country
12.6.2. By Charging Station Type
12.6.3. By Propulsion Type
12.6.4. By Vehicle Class
13. Middle East Electric Cars Market, By Region
13.1. Introduction
13.1.1. Annual Growth Rate Comparison, By Country
13.1.2. BPS Analysis, By Country
13.2. Market (US$Mn) Forecast, By Country
13.2.1. GCC Countries Electric Cars Market
13.2.2. Israel Electric Cars Market
13.2.3. Rest Of Middle East Electric Cars Market
13.3. Middle East Electric Cars Market Revenue (US$Mn) Forecast, By Propulsion Type
13.3.1. Battery Electric Vehicle (BEV)
13.3.2. Plug-In Hybrid Electric Vehicle (PHEV)
13.4. Middle East Electric Cars Market Revenue (US$Mn) Forecast, By Charging Station Type
13.4.1. Normal Charging
13.4.2. Super Charging
13.5. Middle East Electric Cars Market Revenue (US$Mn) Forecast, By Vehicle Class
13.5.1. Mid-Priced
13.5.2. Luxury
13.6. Middle East Electric Cars Market Attractiveness Index
13.6.1. By Country
13.6.2. By Charging Station Type
13.6.3. By Propulsion Type
13.6.4. By Vehicle Class
14. Africa Electric Cars Market, By Region
14.1. Introduction
14.1.1. Annual Growth Rate Comparison, By Country
14.1.2. BPS Analysis, By Country
14.2. Market (US$Mn) Forecast, By Country
14.2.1. South Africa Electric Cars Market
14.2.2. Egypt Electric Cars Market
14.2.3. North Africa Electric Cars Market
14.2.4. Rest Of Africa Electric Cars Market
14.3. Africa Electric Cars Market Revenue (US$Mn) Forecast, By Propulsion Type
14.3.1. Battery Electric Vehicle (BEV)
14.3.2. Plug-In Hybrid Electric Vehicle (PHEV)
14.4. Africa Electric Cars Market Revenue (US$Mn) Forecast, By Charging Station Type
14.4.1. Normal Charging
14.4.2. Super Charging
14.5. Africa Electric Cars Market Revenue (US$Mn) Forecast, By Vehicle Class
14.5.1. Mid-Priced
14.5.2. Luxury
14.6. Africa Electric Cars Market Attractiveness Index
14.6.1. By Country
14.6.2. By Charging Station Type
14.6.3. By Propulsion Type
14.6.4. By Vehicle Class
15. Recommendation
15.1. Market Strategy
16. Competitive Landscape
16.1. Competition Dashboard
16.2. List and Company Overview of Global Key Players
16.3. Company Profiles
16.3.1. Tesla
16.3.1.1. Company Overview
16.3.1.2. Financial Overview
16.3.1.3. Product Portfolio
16.3.1.4. SWOT Analysis
16.3.1.5. Key Developments
16.3.1.6. Business Strategies
16.3.2. BYD
16.3.3. BMW
16.3.4. Volkswagen
16.3.5. Nissan
16.3.6. Toyota
16.3.7. Ford
16.3.8. Volvo
16.3.9. Daimler
16.3.10. Hyundai
16.3.11. Honda
16.3.12. Continental
16.3.13. TATA Motors
17. Acronyms