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DATE
APR 2021
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HIGHLIGHTS & REPORT INDEX
Global Electric Vehicles (EVs) Market to Reach 59 Million Units by 2026
Amid the COVID-19 crisis, the global market for Electric Vehicles (EVs) estimated at 3.2 Million Units in the year 2020, is projected to reach a revised size of 59 Million Units by 2026, growing at a CAGR of 61.5% over the analysis period. Battery Electric Vehicles (BEV), one of the segments analyzed in the report, is projected to record a 60% CAGR and reach 59.8 Million Units by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Plugin Hybrid Electric Vehicles (PHEV) segment is readjusted to a revised 64.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at 1.7 Million Units in 2021, While China is Forecast to Reach 9.5 Million Units by 2026
The Electric Vehicles (EVs) market in the U.S. is estimated at 1.7 Million Units in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of 9.5 Million Units by the year 2026 trailing a CAGR of 58.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 54.9% and 52.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 41.5% CAGR.
SELECT PLAYERS
Bayerische Motoren Werke AG; BYD Company Limited; Daimler AG; DONGFENG ELECTRIC VEHICLE Co., LTD.; FDG Electric Vehicles Limited; Ford Motor Company; General Motors Company; Global Electric Motorcars (GEM); Groupe Renault; Honda Motor Co., Ltd.; Hyundai Motor Company; Karma Automotive; Lucid Motors; Mitsubishi Motors Corporation; NEXT Future Transportation Inc.; NextEV Ltd. (NIO); Nissan Motor Co., Ltd.; Tesla Motors Inc.; Toyota Motor Corp.; Volkswagen AG
SEGMENTS
» Product Segment (Battery Electric Vehicles (BEV), Plugin Hybrid Electric Vehicles (PHEV))
GEOGRAPHIES
» World » United States » Canada » Japan » China » Europe » France » Germany » Italy » United Kingdom » and Rest of Europe » Asia-Pacific » Rest of World
TABLE OF CONTENTS
| I. METHODOLOGY |
| II. EXECUTIVE SUMMARY |
| 1. MARKET OVERVIEW |
| Influencer Market Insights |
| World Market Trajectories |
| Impact of Covid-19 and a Looming Global Recession |
| Recent Market Activity |
| Can Electric Vehicles Emerge to be a Disruptive Technology Capable of Changing the Face of the Global Auto Industry? |
| The Rise, the Death and the Resurgence of Electric Vehicles (EVs) |
| 2. FOCUS ON SELECT PLAYERS |
| Tesla Motors Inc. (USA) |
| Lucid Motors (USA) |
| Faraday Future (USA) |
| NextEV (China) |
| Karma Automotive LLC (USA) |
| NEXT Future Transportation, Inc. (USA) |
| Global Electric Motorcars (GEM) (USA) |
| FDG Electric Vehicles Limited (Hong Kong) |
| Dongfeng Electric Vehicle Co., Ltd. (China) |
| The Geely Group (China) |
| Bayerische Motoren Werke AG (Germany) |
| BYD Company Limited (China) |
| Daimler AG (Germany) |
| Ford Motor Company (USA) |
| General Motors Company (USA) |
| Groupe Renault (France) |
| Honda Motor Co., Ltd. (Japan) |
| Hyundai Motor Company (South Korea) |
| Mitsubishi Motors Corporation (Japan) |
| Nissan Motor Co., Ltd. (Japan) |
| Toyota Motor Corp. (Japan) |
| Volkswagen AG (Germany) |
| 3. MARKET TRENDS & DRIVERS |
| Automotive Industry’s Continuous Struggle with the Environment Paves the Way Forward for EVs |
| Stringent Regulations: The Cornerstone for Growth in the Market |
| Review of Green House Gas Emissions and Fuel Economy Standards for Vehicles Across the World |
| Emissions Regulations Landscape in Major Country/Region |
| Government Support through Funding & Incentive Programs Accelerates Greening of the Automotive Industry |
| Advancements in Battery Technologies, Especially Lithium-Ion, Vital for Electric Car Domination |
| Promising Breakthroughs in Lithium-Ion Infuses Optimism Over the Market's Future Growth |
| Hybrid Vehicles as a Bridge Towards Pure Electric Vehicles, to Witness Immediate Market Opportunities for Growth |
| Plug-in Hybrid Electric Vehicle Long Electric Range (PHEVLER): A Disruptive Technology in the Making |
| Growing Trend Towards Small/Micro and Low-Speed Electric Vehicles |
| Developing Markets: The Focal Point for Future Growth |
| Zero Emission Battery-Powered Longer Range BEVs: The Ultimate Vision of the EV Future |
| Fuel Cell EVs (FCEVs): Not a Threat to BEVs |
| Recent Oil Price Crash: A Temporary Set Back to the EV Industry |
| EVs: Charging Forward With Advancements in Charging Infrastructure |
| Smart Grid Technologies to Optimize Charging Infrastructure and Catalyze Growth of Electric Vehicles |
| A Review of Progressive Battery Technology Developments |
| "Smart" Membrane for Fast Charging of Batteries |
| Lithium-Ion Batteries: The Focal Area of Battery Innovations |
| Research in Biodegradable Batteries |
| Lithium-Oxygen Batteries |
| Nanotechnology-Based Thin-Film Lithium-Ion Batteries |
| Innovation in EV Vehicle Models |
| Nissan and Endesa to Promote V2G Technology in Europe |
| 4. GLOBAL MARKET PERSPECTIVE |
| World Current & Future Analysis for Electric Vehicles (EVs) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Units for Years 2020 through 2027 and % CAGR |
| World Historic Review for Electric Vehicles (EVs) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Units for Years 2012 through 2019 and % CAGR |
| World 15-Year Perspective for Electric Vehicles (EVs) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2012, 2020 & 2027 |
| World Current & Future Analysis for Battery Electric Vehicles (BEV) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Units for Years 2020 through 2027 and % CAGR |
| World Historic Review for Battery Electric Vehicles (BEV) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Units for Years 2012 through 2019 and % CAGR |
| World 15-Year Perspective for Battery Electric Vehicles (BEV) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027 |
| World Current & Future Analysis for Plugin Hybrid Electric Vehicles (PHEV) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Units for Years 2020 through 2027 and % CAGR |
| World Historic Review for Plugin Hybrid Electric Vehicles (PHEV) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Units for Years 2012 through 2019 and % CAGR |
| World 15-Year Perspective for Plugin Hybrid Electric Vehicles (PHEV) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027 |
| III. MARKET ANALYSIS |
| UNITED STATES |
| USA Current & Future Analysis for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) - Independent Analysis of Annual Sales in Units for the Years 2020 through 2027 and % CAGR |
| USA Historic Review for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) Markets - Independent Analysis of Annual Sales in Units for Years 2012 through 2019 and % CAGR |
| USA 15-Year Perspective for Electric Vehicles (EVs) by Product Segment - Percentage Breakdown of Value Sales for Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) for the Years 2012, 2020 & 2027 |
| CANADA |
| Canada Current & Future Analysis for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) - Independent Analysis of Annual Sales in Units for the Years 2020 through 2027 and % CAGR |
| Canada Historic Review for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) Markets - Independent Analysis of Annual Sales in Units for Years 2012 through 2019 and % CAGR |
| Canada 15-Year Perspective for Electric Vehicles (EVs) by Product Segment - Percentage Breakdown of Value Sales for Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) for the Years 2012, 2020 & 2027 |
| JAPAN |
| Japan Current & Future Analysis for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) - Independent Analysis of Annual Sales in Units for the Years 2020 through 2027 and % CAGR |
| Japan Historic Review for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) Markets - Independent Analysis of Annual Sales in Units for Years 2012 through 2019 and % CAGR |
| Japan 15-Year Perspective for Electric Vehicles (EVs) by Product Segment - Percentage Breakdown of Value Sales for Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) for the Years 2012, 2020 & 2027 |
| CHINA |
| China Current & Future Analysis for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) - Independent Analysis of Annual Sales in Units for the Years 2020 through 2027 and % CAGR |
| China Historic Review for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) Markets - Independent Analysis of Annual Sales in Units for Years 2012 through 2019 and % CAGR |
| China 15-Year Perspective for Electric Vehicles (EVs) by Product Segment - Percentage Breakdown of Value Sales for Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) for the Years 2012, 2020 & 2027 |
| EUROPE |
| Europe Current & Future Analysis for Electric Vehicles (EVs) by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in Units for Years 2020 through 2027 and % CAGR |
| Europe Historic Review for Electric Vehicles (EVs) by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in Units for Years 2012 through 2019 and % CAGR |
| Europe 15-Year Perspective for Electric Vehicles (EVs) by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2012, 2020 & 2027 |
| Europe Current & Future Analysis for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) - Independent Analysis of Annual Sales in Units for the Years 2020 through 2027 and % CAGR |
| Europe Historic Review for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) Markets - Independent Analysis of Annual Sales in Units for Years 2012 through 2019 and % CAGR |
| Europe 15-Year Perspective for Electric Vehicles (EVs) by Product Segment - Percentage Breakdown of Value Sales for Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) for the Years 2012, 2020 & 2027 |
| FRANCE |
| France Current & Future Analysis for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) - Independent Analysis of Annual Sales in Units for the Years 2020 through 2027 and % CAGR |
| France Historic Review for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) Markets - Independent Analysis of Annual Sales in Units for Years 2012 through 2019 and % CAGR |
| France 15-Year Perspective for Electric Vehicles (EVs) by Product Segment - Percentage Breakdown of Value Sales for Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) for the Years 2012, 2020 & 2027 |
| GERMANY |
| Germany Current & Future Analysis for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) - Independent Analysis of Annual Sales in Units for the Years 2020 through 2027 and % CAGR |
| Germany Historic Review for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) Markets - Independent Analysis of Annual Sales in Units for Years 2012 through 2019 and % CAGR |
| Germany 15-Year Perspective for Electric Vehicles (EVs) by Product Segment - Percentage Breakdown of Value Sales for Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) for the Years 2012, 2020 & 2027 |
| ITALY |
| Italy Current & Future Analysis for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) - Independent Analysis of Annual Sales in Units for the Years 2020 through 2027 and % CAGR |
| Italy Historic Review for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) Markets - Independent Analysis of Annual Sales in Units for Years 2012 through 2019 and % CAGR |
| Italy 15-Year Perspective for Electric Vehicles (EVs) by Product Segment - Percentage Breakdown of Value Sales for Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) for the Years 2012, 2020 & 2027 |
| UNITED KINGDOM |
| UK Current & Future Analysis for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) - Independent Analysis of Annual Sales in Units for the Years 2020 through 2027 and % CAGR |
| UK Historic Review for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) Markets - Independent Analysis of Annual Sales in Units for Years 2012 through 2019 and % CAGR |
| UK 15-Year Perspective for Electric Vehicles (EVs) by Product Segment - Percentage Breakdown of Value Sales for Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) for the Years 2012, 2020 & 2027 |
| REST OF EUROPE |
| Rest of Europe Current & Future Analysis for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) - Independent Analysis of Annual Sales in Units for the Years 2020 through 2027 and % CAGR |
| Rest of Europe Historic Review for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) Markets - Independent Analysis of Annual Sales in Units for Years 2012 through 2019 and % CAGR |
| Rest of Europe 15-Year Perspective for Electric Vehicles (EVs) by Product Segment - Percentage Breakdown of Value Sales for Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) for the Years 2012, 2020 & 2027 |
| ASIA-PACIFIC |
| Asia-Pacific Current & Future Analysis for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) - Independent Analysis of Annual Sales in Units for the Years 2020 through 2027 and % CAGR |
| Asia-Pacific Historic Review for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) Markets - Independent Analysis of Annual Sales in Units for Years 2012 through 2019 and % CAGR |
| Asia-Pacific 15-Year Perspective for Electric Vehicles (EVs) by Product Segment - Percentage Breakdown of Value Sales for Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) for the Years 2012, 2020 & 2027 |
| REST OF WORLD |
| Rest of World Current & Future Analysis for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) - Independent Analysis of Annual Sales in Units for the Years 2020 through 2027 and % CAGR |
| Rest of World Historic Review for Electric Vehicles (EVs) by Product Segment - Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) Markets - Independent Analysis of Annual Sales in Units for Years 2012 through 2019 and % CAGR |
| Rest of World 15-Year Perspective for Electric Vehicles (EVs) by Product Segment - Percentage Breakdown of Value Sales for Battery Electric Vehicles (BEV) and Plugin Hybrid Electric Vehicles (PHEV) for the Years 2012, 2020 & 2027 |
| IV. COMPETITION |
| Total Companies Profiled: 569 |
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