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Global Electric Vehicle Market Valued at $17.23 Billion in 2018

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Lohitha Reddy
Global Electric Vehicle Market Valued at $17.23 Billion in 2018

With an increasing technological advancement, the demand for fuel-efficient, low-emission, and high-performance vehicles are increasing drastically in the global electric vehicle market size, according to a market research report published by IndustryARC. The report evaluates the global electric vehicles market value at $17.23 billion in 2018. Additionally, proactive government initiatives for the reduction in vehicular emission is expected to increase growth opportunities. The global EV market is projected to grow at a compound annual growth rate (CAGR) of 8.26% during the forecast period of 2019 to 2025. The report covers Electric Vehicle Market Size by component and wired charging, Electric Vehicle Market share by top 5 companies and also the market share by start-ups during the forecast period.

The IndustryARC’s latest business intelligence report is titled “Electric Vehicles (EV) Market: By Vehicle Type; By Battery Technology; By Component; By Wired Charging; By Wireless Charging; By Infotainment, By High Power Electronics; By Light Weighting Material; By HVAC, By Energy Harvesting; By Organic and Flexible Electronics; By New Business Models; By Geography (Americas, Europe, Asia Pacific, RoW) Forecast (2019 - 2025).” The report also states that the government of various countries are providing incentives to the companies to uplift the sale of electric vehicles. Also, increasing disposable income is also driving the growth of the EV Market.

View Full Table of Contents of Electric Vehicles Market:
https://www.industryarc.com/Report/19/global-electric-vehicles-market-analysis-report.html

Report Price (Single User): US $3850

Global Electric Vehicles Market: Leading Segments

APAC held the largest demand share of the global electric vehicles market due to the growing and tight government regulations. World’s fastest emerging economy, China, has the highest national and local subsidies for EV in the world, reducing the consumer-related concerns about high up-front cost. China now has the largest EV market, with solidifying EV sales, however, the domestic OEMs dominate the EV market. APAC has been growing in the automobile market for a few years. The regional market share was 9.56% in 2018.

Furthermore, the key application segment cited by IndustryARC’s analyst is SLA battery type. This segment is expected to dominate the battery type used for electric vehicles. They are the most used for storage in backup power supplies. This will lead to the growth of this segment in the EV market. The application segment is expanding with an impressive CAGR of 37.36% during the aforementioned forecast period.

Global Electric Vehicles Market: Market Trends and Growth Drivers

Native Flexible Electric Vehicles
In spite of huge up-front investments in new tooling native EV has proved to be the most advantageous in many ways. It is designed without the combustion-engine legacy elements which relate to more flexibility of the electric vehicle. They can even manage to accommodate a bigger battery pack, which will automatically enhance the range and power and faster charging.

EV Powertrain Integration
With many parts of power electronics together moving closer and being integrated with the fewer modules, the designing of electric cables connecting the main EV powertrain features such as batteries, power electronics, e-motor, and thermal management module is a good indicator for influencing growth for the EV market.

Advanced Driver-Assistance Systems
Vehicle safety is an important concern in which automotive companies are investing heavily. ADAS systems based on Automotive IoT Solution help the driver to avoid on-road collisions by intimating on the hazards while driving.

Ban for Gasoline and Diesel Cars
Electric vehicles are the latest trend in the automotive industry. People prefer EVs more than fuel based cars or gasoline cars. There are countries that have already started electric buses on the road. Owing to the increasing demand for electric vehicles, the government is planning to ban gasoline and diesel cars in many major countries.

Talk to one of our sales representatives about the full report by providing your details in the link below:
https://www.industryarc.com/support.php?id=19

Global Electric Vehicles Market: Competitive landscape

Some of the key companies identified in the report that are currently holding majority shares in the global electric vehicles market are GOVECS Group, Ampere Vehicles Pvt. Ltd., Vmoto Limited, Hero Electric Vehicles Pvt. Ltd., Energica Motor Company S.p.A., and BMW. Yadea Technology Group Co. Ltd., Zhejiang Luyuan Electric Vehicle Co. Ltd., Yadea Technology, Hero Electric, Energica Motor Company S.p.A., BMW, and Mahindra GeneZe, Aima Technology Co. Ltd., Sunra Group, and Dongguan Tailing Electric Vehicle Co. Ltd., Amper Vehicles, and Vmoto Limited.

Related Reports:

A. Electric Vehicle Charging Services Market
https://www.industryarc.com/Report/16306/electric-vehicle-charging-services-market.html

B. Light Electrical Vehicle Market
https://www.industryarc.com/Report/15431/light-electric-vehicle-market.html

About IndustryARC:

IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.

Contact Info:
Name: Venkat Reddy
Email: Send Email
Organization: IndustryARC
Phone: +1-614-588-8538

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