Electric Vehicle Market by Propulsion Type (Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), Full Hybrid Electric Vehicle (FHEV) and Mild Hybrid Electric vehicle (MHEV)), Vehicle Type (Passenger Cars, Busses and Light Commercial Vehicle (LCV)) and by Charging Station Type (Slow Charging Stations and Quick Charging Stations) – Global Industry Insights, Trends and Forecast – 2017 to 2025

Created On: Jun-2018
Report ID: IR110
Format: PDF

Market Introduction

Over 1.2 million electric vehicles were sold in the last year, with more than 165 models available for sale. Market leader China holds approximately 48% of the total electric vehicle market followed by Europe at approximately 26%. Tighter emission norms followed by dropping prices of battery packs is forcing the market to newer dimensions. Solid state battery which is the future of battery packs would further push forward the electric vehicles market. More than 10 vehicle manufacturers in the last 6 months have announced their plans to launch electric vehicle in the future. Tesla’s lithium-ion factory which is called the tesla Gigafactory is only 35% operational, and plans to produce by the year 2018, 50 GWh worth of batteries. When the factory becomes fully operational, it claims to produce around 150 GWh of batteries which can power around 1.5 million vehicles having 100KWh of battery pack. BMW, Fisker and Toyota are likely to be the early birds to adopt the battery in its electric vehicles by the year 2023.

Market Dynamics

Electricity systems need to ensure both quality of service and system adequacy. The degree to which higher shares of electric vehicles and their request for charging will impact electricity networks which will depend greatly on the charging modes used and technologies. The majority of electric vehicle charging is expected to happen at businesses and home or in public charging stations. Intensifying electric vehicle infiltration is thus likely to have an impact on power grids of low-voltage in commercial or residential areas first. Substantial subsidies and tight regulation remain to drive much of the growth. Electric vehicles are exempted from auctions and license-plate lotteries in some of the cities in China, and thus plays an influential role in promoting electric vehicles in China. With the introduction of successful pilot program in few of the selected cities, the government of China introduced green license plates for new electric vehicle all around the country.

Market Segmentation and Analysis

The market for electric vehicles has been segmented into propulsion type, vehicle type and charging station type. By propulsion type the market is further segmented into battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), Full Hybrid Electric Vehicle (FHEV) and Mild Hybrid Electric vehicle (MHEV). BEV holds a market share of approximately 60% of the all-electric vehicles sold around the world. Further, the market based upon charging station type is segmented into normal charging and quick charging. According to vehicle type segmentation the market is further broken down into passenger cars, light commercial vehicles and busses.

Geographical Outlook

In terms of region the market has been segmented into Asia Pacific, Europe, North America, Middle East and Africa and South America. Asia Pacific dominated the market owing to the contribution of China. China alone contributes around 48% of the electric vehicle market in the year 2017. Europe is expected to witness a prime growth rate owing to the contribution or Germany and Norway. Various factors contributed, such as the and increasing customer interest in electric vehicles and ongoing bans for diesel technology. Germany encountered a huge momentum in the electric vehicle sales, where the market increased more than double. Germany is now Europe’s second-largest electric vehicle market, outpaced only by Norway.

Competitive Landscape

Some of the major players of this market are Tesla, BYD, Nissan Motor, Delphi Automotive and VW among others.

Our Research Approach Includes
  •  Market Outlining
  •  Framing discussion guide
  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
  •  Report Insights and Publishing
Our Research Approach Includes
  •  Market Outlining
  •  Framing discussion guide
  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
  •  Report Insights and Publishing
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