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Electric Vehicles Market Research Report - Global Forecast to 2023

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Global Electric Vehicles Market Information Report, By Technology (Battery Electric Vehicles, Hybrid Electric Vehicles and Plug-In Hybrid Electric Vehicles), By Vehicle Type (Passenger Cars, Commercial Vehicles and Two Wheelers), and By Region - For
Electric Vehicles Market 2018
Industry Survey, Growth, Competitive Landscape
and Forecasts to 2023
PREPARED BY
Market Research Future
(Part of Wantstats Research & Media Pvt. Ltd.)
Electric Vehicles Market Research Report - Global Forecast to 2023
Global Electric Vehicles Market Information Report, By Technology (Battery Electric Vehicles, Hybrid Electric Vehicles and
Plug-In Hybrid Electric Vehicles), By Vehicle Type (Passenger Cars, Commercial Vehicles and Two Wheelers), and By Region -
Forecast To 2023
Market Synopsis of Global Electric Vehicles Market
The global electric vehicles market has experienced a potential growth over the past few year and it has been analyzed that the market will grow at the
same pace during the forecast period. Electric vehicles market looks promising during the forecast period due to the major driving factors such as
majorly influenced by the surge in demand of electric vehicle worldwide, increasing fuel prices, and expansion of global auto-manufacturers into new
emerging markets and government initiatives and among others. On the other hand, emerging economies seeks more opportunities for electric vehicles
will create ample scope for market growth. However, high prices of electric vehicles and underdeveloped aftermarket services could hinder the market
growth. Global electric vehicles has very broad market in coming recent years. MRFR analysts has predicted that global electric vehicles market is
expected to reach USD 356.5 billion by 2023 from USD 106.5 Billion in 2016 with a CAGR of 18.96.
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Electric Vehicles Market Research Report - Global Forecast to 2023
Market Segmentation of Global Electric Vehicles Market
The global electric vehicle market by technology has been segmented into battery electric vehicles, hybrid electric vehicles and plug-in hybrid
electric vehicles. Among these technology, battery electric vehicles has accounted the largest market share of 51.40% in 2016 followed by hybrid
electric vehicles. However, plug-in hybrid electric vehicles segment has registered the fastest growing segment with a CAGR of 21.75% during
forecast period. Whereas, the global electric vehicle market by vehicle type has been segmented into passenger cars commercial vehicles and two
wheelers. Among these vehicle types, passenger cars has accounted the largest market share of 68.20% in 2016 followed by commercial vehicles
and two wheelers. However, passenger cars segment has registered the fastest growing segment with a CAGR of 19.93% during forecast period.
Key Findings
• Asia-Pacific accounted for the largest market share of 53.20% in 2016, with a market value of USD 56.7 billion and is projected to grow at
the highest CAGR of 20.35% during the forecast period.
• Passenger Cars accounted for the largest market share of 68.20% in 2016, with a market value of USD 72.6 billion and is projected to grow
at the highest CAGR of 19.93% during the forecast period.
• Battery Electric Vehicles accounted for the largest market share of 51.40% in 2016, with a market value of USD 54.7 billion and is projected
to grow at a CAGR of 19.95% during the forecast period.
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Electric Vehicles Market Research Report - Global Forecast to 2023
Major Players in this Research:
 Nissan Motor Company
 Tesla Inc, Toyota Motor Corporation
 Ford Motor Company
 Volkswagen, BMW
 General Motors
 Daimler AG
 Hyundai Motor Company
 Mitsubishi Motors Corporation
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and
industrial visits for its research analyst members.
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Author
Monica Nerkar
Monica Nerkar721   document Email
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Automotive
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electric, electric vehicles, Electric Vehicles Market
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