Market Overview:
The global electric vehicle (EV) and plug-in hybrid electric vehicle (PHEV) market is expected to grow at a CAGR of 16.5% from 2018 to 2030. The market growth can be attributed to the increasing demand for environment-friendly vehicles, government initiatives and subsidies for the adoption of EVs, and rising awareness about the benefits of EVs. In terms of type, the EV segment is expected to dominate the global EV and PHEV market during the forecast period. This can be attributed to factors such as lower ownership costs, longer driving range, and increasing number of charging stations across major cities worldwide.
Product Definition:
EV stands for Electric Vehicle and PHEV stands for Plug-in Hybrid Electric Vehicle. EVs are powered by electricity from batteries, while PHEVs also have a gasoline engine that can power the car when the battery is depleted. The importance of EVs and PHEVs is that they produce zero emissions, which is important for combating climate change.
EV:
Electric Vehicles (EV) and plug-in hybrid electric vehicles (PHEV) are gaining popularity in the automotive market. An EV has a considerably lower energy consumption as compared to conventional fuel vehicles, which makes it an attractive option for consumers looking forward to adopting sustainable transport.
PHEV:
Plug-in Hybrid Electric Vehicle (PHEV) and Plug-in Hybrid Electric Vehicle with Battery Management (PHEV/PHBV) are vehicles that use both electricity and fossil fuels in roughly equal measure to power a vehicle. PHEVs are designed to maximize the use of electric power when traveling at or below the speed of 15 miles per hour, and they can also be used as conventional hybrid vehicles if driven above this speed.
Application Insights:
The commercial vehicle segment accounted for the largest revenue share of over 60% in 2017. The segment is likely to witness significant growth on account of increasing government funding and incentives for the adoption of electric vehicles in public transportation, logistics, and heavy-duty trucks. Various governments across the world are focusing on reducing greenhouse gas emissions by adopting cleaner sources such as electricity. This is projected to drive demand over the forecast period.
Passenger vehicle applications are expected to witness a CAGR exceeding 10% from 2018 to 2030 owing to increased consumer disposable income levels coupled with rising awareness regarding PHEVs benefits such as reduced operating costs, better performance, enhanced driving experience due to regenerative braking system among others which makes them more appealing than conventional gasoline or diesel powered vehicles. Increasing demand for passenger EVs from developed economies such as U.S.
Regional Analysis:
Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. The region accounted for a share of more than 30% in 2017 owing to increasing sales of EVs and PHEVs in China, India, Japan, South Korea and Taiwan. In 2016, China emerged as the global leader with its domestic EV sales exceeding expectations. However, some countries such as France have shown interest in introducing electric vehicles on a large scale which will further boost growth across various other countries including Germany and U.
The Middle East & Africa is also anticipated to witness significant growth due to rising government support for promoting eco-friendly transportation practices along with growing oil prices that are anticipated to increase by around USD X per barrel between 2017.
Growth Factors:
- Increasing environmental awareness and the need to reduce emissions
- Government subsidies and incentives for electric vehicles
- The increasing affordability of electric vehicles and their components
- Improved battery technology and charging infrastructure
- Increased consumer demand for alternatively fueled vehicles
Scope Of The Report
Report Attributes
Report Details
Report Title
EV and PHEV Market Research Report
By Type
EV, PHEV
By Application
Commercial Vehicle, Passenger Vehicle
By Companies
Volvo, Volkswagen, Toyota, Tesla, BMW, Porsche, Nissan, Mitsubishi, Kia, Hyundai, Volvo, Ford, Fiat, Chevrolet, Audi, BYD
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
164
Number of Tables & Figures
115
Customization Available
Yes, the report can be customized as per your need.
Global EV and PHEV Market Report Segments:
The global EV and PHEV market is segmented on the basis of:
Types
EV, PHEV
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.
Applications
Commercial Vehicle, Passenger Vehicle
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:
- Volvo
- Volkswagen
- Toyota
- Tesla
- BMW
- Porsche
- Nissan
- Mitsubishi
- Kia
- Hyundai
- Volvo
- Ford
- Fiat
- Chevrolet
- Audi
- BYD
Highlights of The EV and PHEV Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- EV
- PHEV
- By Application:
- Commercial Vehicle
- Passenger Vehicle
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the EV and PHEV 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
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Electric vehicles (EV) are powered by electricity, while plug-in hybrid electric vehicles (PHEV) use both gasoline and electricity.
Some of the key players operating in the ev and phev market are Volvo, Volkswagen, Toyota, Tesla, BMW, Porsche, Nissan, Mitsubishi, Kia, Hyundai, Volvo, Ford, Fiat, Chevrolet, Audi, BYD.
The ev and phev market is expected to grow at a compound annual growth rate of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 EV and PHEV Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 EV and PHEV Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 EV and PHEV Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the EV and PHEV Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global EV and PHEV Market Size & Forecast, 2018-2028
4.5.1 EV and PHEV Market Size and Y-o-Y Growth
4.5.2 EV and PHEV Market Absolute $ Opportunity
Chapter 5 Global EV and PHEV Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 EV and PHEV Market Size Forecast by Type
5.2.1 EV
5.2.2 PHEV
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global EV and PHEV Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 EV and PHEV Market Size Forecast by Applications
6.2.1 Commercial Vehicle
6.2.2 Passenger Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global EV and PHEV Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 EV and PHEV Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America EV and PHEV Analysis and Forecast
9.1 Introduction
9.2 North America EV and PHEV Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America EV and PHEV Market Size Forecast by Type
9.6.1 EV
9.6.2 PHEV
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America EV and PHEV Market Size Forecast by Applications
9.10.1 Commercial Vehicle
9.10.2 Passenger Vehicle
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe EV and PHEV Analysis and Forecast
10.1 Introduction
10.2 Europe EV and PHEV Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe EV and PHEV Market Size Forecast by Type
10.6.1 EV
10.6.2 PHEV
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe EV and PHEV Market Size Forecast by Applications
10.10.1 Commercial Vehicle
10.10.2 Passenger Vehicle
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific EV and PHEV Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific EV and PHEV Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific EV and PHEV Market Size Forecast by Type
11.6.1 EV
11.6.2 PHEV
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific EV and PHEV Market Size Forecast by Applications
11.10.1 Commercial Vehicle
11.10.2 Passenger Vehicle
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America EV and PHEV Analysis and Forecast
12.1 Introduction
12.2 Latin America EV and PHEV Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America EV and PHEV Market Size Forecast by Type
12.6.1 EV
12.6.2 PHEV
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America EV and PHEV Market Size Forecast by Applications
12.10.1 Commercial Vehicle
12.10.2 Passenger Vehicle
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) EV and PHEV Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) EV and PHEV Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) EV and PHEV Market Size Forecast by Type
13.6.1 EV
13.6.2 PHEV
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) EV and PHEV Market Size Forecast by Applications
13.10.1 Commercial Vehicle
13.10.2 Passenger Vehicle
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 EV and PHEV Market: Competitive Dashboard
14.2 Global EV and PHEV Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Volvo
14.3.2 Volkswagen
14.3.3 Toyota
14.3.4 Tesla
14.3.5 BMW
14.3.6 Porsche
14.3.7 Nissan
14.3.8 Mitsubishi
14.3.9 Kia
14.3.10 Hyundai
14.3.11 Volvo
14.3.12 Ford
14.3.13 Fiat
14.3.14 Chevrolet
14.3.15 Audi
14.3.16 BYD
