Electric Vehicle Market Key Drivers, Size, Share, Trends, Growth, Analysis and Forecast To 2023

Electric Vehicle Market Synopsis

The report published by Market Research Future (MRFR) suggests that the global electric vehicle market is poised to mark 18.4% CAGR over the forecast period. It indicates that the market is expected to attract massive investments over the next couple of years owing to the rapid shift to EVs.

Competitive Dashboard

Nissan Motor Company (Japan), Toyota Motor Corporation (Japan), Tesla Inc. (US), Ford Motor Company (US), BMW (Germany), Volkswagen (Germany), General Motors (US), Hyundai Motor Company (South Korea), Daimler AG (Germany), and Mitsubishi Motors Corporation (Japan) are few of the key players of the global electric vehicle market.

Market Segmentation

On the basis of technology, the electric vehicle market has been segmented into hybrid, battery, and plug-in hybrid electric vehicles.

By vehicle type, the electric vehicle market has been segmented into commercial vehicles, passenger cars, and two wheelers.

Regional Analysis

The regional assessment of the electric vehicle market is included in the report from the following regions - North America, Asia-Pacific (APAC), Europe, and the Rest of the World (RoW). These regional segments are further analyzed on the basis of country-level markets. Asia Pacific has garnered the largest share of the market. It is presumed to maintain its standing at the pole position through the review period. The governments in the economies such as China and India are investing in measures to control air pollution. It is supposed to have a positive effect on the growth curve of the electric vehicles market in the region. Europe is also likely to earn remarkable amount of revenue during the assessment period. Increasing focus on the adoption of industrial electric cars in the region is expected to drive market growth.

Industry News

In December 2019, MG (Morris Garages) Motor India has announced the introduction of ZS electric vehicle which is anticipated to be launched in the Indian market by 2020.

In December 2019, Tata Motors India has announced the launch of its Nexon electric vehicle (EV).

Access Full Report @ https://www.marketresearchfuture.com/reports/electric-vehicles-market-1793