PUNE, India, Sept. 28, 2022 (GLOBE NEWSWIRE) — According to Fortune Business Insights, the is global electric vehicle market to grow at a CAGR of 24.3% and reach US$1,318.22 billion from a market value of US$287.36 billion in 2021 during the forecast period 2021-2028. The market was valued at $106.45 billion in 2020. The market growth is attributed to factors such as the environmental impact of conservative gasoline cars, and the rise in fuel prices has opened new prospects for alternative fuel vehicles in the market. Buyers are increasingly inclined to use battery-powered or hybrid vehicles, which is estimated to fuel the growth and demand of the electric vehicle market.
Electric vehicle companies analyzed in the report:
- BMW Group (Munich, Germany)
- BYD Company Ltd. (Shenzhen, China)
- Daimler AG (Stuttgart, Germany)
- Ford Motor Company (Michigan, USA)
- General Motors Company (Michigan, USA)
- Nissan Motor Corporation (Kanagawa, Japan)
- Tesla, Inc. (California, USA)
- Toyota Motor Corporation (Toyota City, Japan)
- Volkswagen AG (Wolfsburg, Germany)
- Groupe Renault (Boulogne-Billancourt, France)
Request a sample copy of the research report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/electric-vehicle-market-101678
Scope and segmentation of the report:
| report coverage | details |
| forecast period | 2021-2028 |
| Forecast period 2021 to 2028 CAGR | 24.3% |
| Value prognosis 2028 | $1,318.22 billion |
| base year | 2020 |
| Market size in 2021 | $287.36 billion |
| Historical data for | 2017-2019 |
| number of pages | 250 |
| segments covered | By vehicle type, by type |
| growth accelerator | Strong demand for passenger cars to support growth in Asia Pacific |
| Promising government support and policies to support EV sales |
Electric Vehicle Market Analysis:
Industry development:
April 2020: Honda Motor Co.,Ltd. and General Motors (GM) agreed to jointly manufacture two first-of-a-kind electric vehicles for Honda, utilizing GM’s advanced technology in the electric vehicle platform powered by Ultium batteries.
Regional Electric Vehicle Market…
