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Growing Interest in Electrification of Powertrain Against the Backdrop of Rising Environmental Concerns Over Fossil-Fueled Automobiles to Drive Growth in the Electric Vehicles Market


Published: February 2017

REPORT STATISTICS


  • Code: MCP-1045
  • Pages: 284
  • Tables: 55
  • Companies: 77


ELECTRIC VEHICLES (EVS): A RESEARCH BRIEF

The global market for Electric Vehicles (EVs) is forecast to reach 3.5 million units by 2022, driven by the strong environmental concerns raised by the unsustainable, fossil fuel hungry automobile industry and the ensuing focus on developing alternatively fueled powertrains. Other major factors driving growth include positive reinforcement for the development of support infrastructure for EVs such as recharging stations; stringent vehicular emission norms; advancements in Lithium-Ion battery technologies and the resulting increase in performance and reduction in prices; and successful commercialization of plug-in hybrid electric vehicle long electric range (PHEVLER). Asia-Pacific ranks as one of the most important markets worldwide with a CAGR of 27.9% over the analysis period. The growth in the region is led by factors such as growing stringency of the hitherto lax environmental policies as a result of increasing international pressure to reduce pollution; falling battery costs and decline in overall cost of EVs; aggressive production and sales goals in China supported by the huge subsidies offered by the Chinese government; and establishment of non-profit organizations like the Electric Vehicle Association of Asia Pacific (EVAAP) for the development, propagation and use of EVs. 

    Summary of Findings

  • Automotive Industry’s Continuous Struggle with the Environment Paves the Way Forward for Electric Vehicles
  • Government Support Through Funding & Incentive Programs Spurs Growth Opportunities for EVs
  • With EV Commercialization Critically Hinged Onto the Cost of Lithium-Ion Batteries, Promised Decline in Battery Costs Strengthens Long-Term Outlook for EVs
  • Unrivalled Environmental Performance to Bring EVs at the Forefront of All Sustainable Engineering Innovations in the Automobile Industry
  • Smart Grid Technologies to Optimize Charging Infrastructure and Catalyze Growth of EVs

    Timeline for Analysis

  • Market Estimates and Forecasts for 2014-2022

    Geographic Markets Analyzed

  • US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Netherlands, Norway, and Rest of Europe) , Asia-Pacific (China and Rest of Asia-Pacific, and Rest of World

    Market Segmentation & Classification

  • Product Segments:
    • Battery Powered Electric Vehicles, Hybrid Electric Vehicles, and Fuel Cell Electric Vehicles

MAJOR PLAYERS

  • Tesla Motors Inc.
  • Lucid Motors
  • Faraday Future
  • NextEV
  • Karma Automotive LLC
  • NEXT Future Transportation, Inc.
  • Global Electric Motorcars
  • FDG Electric Vehicles Limited

KEY RESEARCH DELIVERABLES

  • Review of Industry/Market Structure
  • Analysis of Trends & Drivers
  • Insights on Macro Market Scenarios
  • Market SWOT Analysis
  • Latent Demand Forecasts & Projections
  • Comprehensive Geographic Market Analysis
  • Presentation Ready Facts & Statistical Data Findings
  • Coverage of Major/Niche Players, Market Shares & Competition
  • Coverage of major Company/Technology/Product/Financial Stories
  • Extensive Product/Service/End-Use/Technology Coverage Where Applicable