Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Electric Vehicle Market by Type (PHEV, BEV), By Application (Home Use, Commercial Use) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Electric Vehicle Market by Type (PHEV, BEV), By Application (Home Use, Commercial Use) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 140224 3300 Automobile & Transportation 377 243 Pages 4.8 (41)

Market Overview:

The global electric vehicle market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for electric vehicles due to their environment-friendly nature and low operating costs. Electric vehicles are powered by electricity, which makes them emissions-free and noise-free, making them more preferred over traditional gasoline or diesel vehicles. Additionally, governments across the globe are providing incentives such as tax rebates and subsidies for the adoption of electric vehicles, which is also aiding in the growth of this market. The global electric vehicle market can be segmented on the basis of type into plug-in hybrid electric vehicles (PHEVs) and batteryelectric Vehicles (BEVs). PHEVs are expected to witness higher growth duringthe forecast period as comparedto BEVs due tot heir lower initial costand longer driving rangeas comparedto BEVs.

Global Electric Vehicle Industry Outlook

Product Definition:

Electric Vehicle is a type of vehicle that uses electric power to run its engine. Electric vehicles are powered by electricity from batteries or fuel cells, rather than gasoline or diesel. Electric Vehicles are important because they produce no emissions, which is great for the environment.


Plug-in Hybrid Electric Vehicle (PHEV) is a hybrid electric automobile that uses both electricity and fossil fuels. It has a small internal combustion engine which can be used for starting the car, powering the electric motor, or combined with the fuel engine to produce more power. PHEVs are designed to maximize efficiency and minimize emissions by using alternative energy sources such as electricity. They use an onboard battery system for storing electrical energy produced from regenerative braking or when traveling at low speeds.


Battery Electric Vehicle (BEV) is a vehicle that uses chemical energy stored in rechargeable battery packs to power the electric motors instead of conventional fuel or diesel. BEVs use electricity as the primary source of energy and can be used on roads or rails. The first BEV was introduced in 1994 by Nissan, followed by many other manufacturers across the globe.

Application Insights:

The commercial use segment dominated the global electric vehicle market, accounting for more than 63.0% share of the total revenue in 2017. The segment is expected to witness significant growth over the forecast period owing to increasing government initiatives and policies for promoting electric vehicles in order to reduce carbon emissions and air pollution. For instance, under a new plan by France's Ministry of Ecological and Solidarity Transition (METS), all new cars manufactured after 2019 must be equipped with hybrid or full-electric powertrain options.

EVs are widely used as public transport buses in major cities such as London, New York City, Paris and Berlin due to their low operational cost; reduced traffic congestion; improved passenger experience owing to zero emission capability; ability to operate on short range wireless communication without fixed infrastructure requirement; flexible seating arrangement allowing passengers choose their destination point which increases passenger flow which eventually reduces waiting time at bus stops thereby improving overall public transportation system efficiency.

Regional Analysis:

North America accounted for the largest share of over 40% in 2017. The region is expected to maintain its lead throughout the forecast period owing to increasing government initiatives and investments, supportive regulations, and presence of key manufacturers. For instance, in December 2018, Tesla Inc., a U.S.-based EV manufacturer announced that it will be providing free access to electricity for Model 3 owners through its solar panels on roof top.

Asia Pacific market was valued at USD X billion in 2017.

Growth Factors:

  • Increasing environmental awareness among consumers
  • Government initiatives and subsidies for electric vehicles
  • Reduction in the cost of electric vehicle batteries and charging infrastructure
  • Improved performance and range of electric vehicles compared to traditional gasoline-powered cars
  • Increased consumer acceptance of electric vehicles as a viable mode of transportation

Scope Of The Report

Report Attributes

Report Details

Report Title

Electric Vehicle Market Research Report

By Type


By Application

Home Use, Commercial Use

By Companies

Volkswagen, Mitsubishi, Renault, Nissan, BMW, Tesla, Volvo, Mercedes-Benz, Hyundai, PSA

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


Customization Available

Yes, the report can be customized as per your need.

Global Electric Vehicle Market Report Segments:

The global Electric Vehicle market is segmented on the basis of:



The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.


Home Use, Commercial Use

The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.

Some of the companies that are profiled in this report are:

  1. Volkswagen
  2. Mitsubishi
  3. Renault
  4. Nissan
  5. BMW
  6. Tesla
  7. Volvo
  8. Mercedes-Benz
  9. Hyundai
  10. PSA

Global Electric Vehicle Market Overview

Highlights of The Electric Vehicle Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. PHEV
    2. BEV
  1. By Application:

    1. Home Use
    2. Commercial Use
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Electric Vehicle Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.

Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.

The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.

How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Global Electric Vehicle Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?

An electric vehicle is a car that runs on electricity instead of gasoline or diesel. Electric vehicles are becoming more popular because they are environmentally friendly and they have less emissions than gas-powered cars.

Some of the key players operating in the electric vehicle market are Volkswagen, Mitsubishi, Renault, Nissan, BMW, Tesla, Volvo, Mercedes-Benz, Hyundai, PSA.

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Electric Vehicle Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Electric Vehicle Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Electric Vehicle Market - Supply Chain
   4.5. Global Electric Vehicle Market Forecast
      4.5.1. Electric Vehicle Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Electric Vehicle Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Electric Vehicle Market Absolute $ Opportunity

5. Global Electric Vehicle Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Electric Vehicle Market Size and Volume Forecast by Type
      5.3.1. PHEV
      5.3.2. BEV
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Electric Vehicle Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Electric Vehicle Market Size and Volume Forecast by Application
      6.3.1. Home Use
      6.3.2. Commercial Use
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Electric Vehicle Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Electric Vehicle Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Electric Vehicle Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Electric Vehicle Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Electric Vehicle Demand Share Forecast, 2019-2026

9. North America Electric Vehicle Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Electric Vehicle Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Electric Vehicle Market Size and Volume Forecast by Application
      9.4.1. Home Use
      9.4.2. Commercial Use
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Electric Vehicle Market Size and Volume Forecast by Type
      9.7.1. PHEV
      9.7.2. BEV
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Electric Vehicle Demand Share Forecast, 2019-2026

10. Latin America Electric Vehicle Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Electric Vehicle Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Electric Vehicle Market Size and Volume Forecast by Application
      10.4.1. Home Use
      10.4.2. Commercial Use
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Electric Vehicle Market Size and Volume Forecast by Type
      10.7.1. PHEV
      10.7.2. BEV
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Electric Vehicle Demand Share Forecast, 2019-2026

11. Europe Electric Vehicle Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Electric Vehicle Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Electric Vehicle Market Size and Volume Forecast by Application
      11.4.1. Home Use
      11.4.2. Commercial Use
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Electric Vehicle Market Size and Volume Forecast by Type
      11.7.1. PHEV
      11.7.2. BEV
   11.8. Basis Point Share (BPS) Analysis by Type
   11.9. Y-o-Y Growth Projections by Type
   11.10. Market Attractiveness/Growth Potential Analysis
      1.10.1. By Country
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Electric Vehicle Demand Share, 2019-2026

12. Asia Pacific Electric Vehicle Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Electric Vehicle Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Electric Vehicle Market Size and Volume Forecast by Application
      12.4.1. Home Use
      12.4.2. Commercial Use
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Electric Vehicle Market Size and Volume Forecast by Type
      12.7.1. PHEV
      12.7.2. BEV
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Electric Vehicle Demand Share, 2019-2026

13. Middle East & Africa Electric Vehicle Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Electric Vehicle Market Size and Volume Forecast by Country
      13.2.1. Saudi Arabia
      13.2.2. South Africa
      13.2.3. UAE
      13.2.4. Rest of Middle East & Africa (MEA)
   13.3. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Electric Vehicle Market Size and Volume Forecast by Application
      13.4.1. Home Use
      13.4.2. Commercial Use
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Electric Vehicle Market Size and Volume Forecast by Type
      13.7.1. PHEV
      13.7.2. BEV
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Electric Vehicle Demand Share, 2019-2026

14. Competition Landscape
   14.1. Global Electric Vehicle Market: Market Share Analysis
   14.2. Electric Vehicle Distributors and Customers
   14.3. Electric Vehicle Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. Volkswagen Overview Financials Developments Strategic Outlook
      14.4.2. Mitsubishi Overview Financials Developments Strategic Outlook
      14.4.3. Renault Overview Financials Developments Strategic Outlook
      14.4.4. Nissan Overview Financials Developments Strategic Outlook
      14.4.5. BMW Overview Financials Developments Strategic Outlook
      14.4.6. Tesla Overview Financials Developments Strategic Outlook
      14.4.7. Volvo Overview Financials Developments Strategic Outlook
      14.4.8. Mercedes-Benz Overview Financials Developments Strategic Outlook
      14.4.9. Hyundai Overview Financials Developments Strategic Outlook
      14.4.10. PSA Overview Financials Developments Strategic Outlook
      14.4.11. COMPANY 11 Overview Financials Developments Strategic Outlook
      14.4.12. COMPANY 12 Overview Financials Developments Strategic Outlook
      14.4.13. COMPANY 13 Overview Financials Developments Strategic Outlook
      14.4.14. COMPANY 14 Overview Financials Developments Strategic Outlook
      14.4.15. COMPANY 15 Overview Financials Developments Strategic Outlook
      14.4.16. COMPANY 16 Overview Financials Developments Strategic Outlook
      14.4.17. COMPANY 17 Overview Financials Developments Strategic Outlook
      14.4.18. COMPANY 18 Overview Financials Developments Strategic Outlook
      14.4.19. COMPANY 19 Overview Financials Developments Strategic Outlook
      14.4.20. COMPANY 20 Overview Financials Developments Strategic Outlook

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