The global Electric Vehicles Market is expected to reach USD 793.24 Billion by 2027, according to a new report by Emergen Research. The growth of this market can be attributed due to the growing environmental awareness among consumers and increasing government initiatives regarding the adoption of Electric Vehicles to reduce the emission levels in the environment. Increasing research and development for the technological advancement of the products is augmenting the demand for the industry.

The pandemic has severely affected the automotive & transportation industry and disrupted the supply chain, raw material supplies, and demand for the product in the automotive industry.  As people are facing a financial crisis, there are changes in consumer buying behavior, which can adversely affect the industry. The liquidity shortfall and the cash crisis have already affected the sales of the product. Additionally, many companies are withdrawing their investments, and the government of several countries is cutting down the incentives provided by them earlier, which are hampering the growth of the market.

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Key Highlights From The Report

• The Battery Electric Vehicles (BEV) segment dominated the market with a share of 48.5% in 2019 due to its higher efficiencies and decreasing prices of the battery. Plug-in Hybrid Electric Vehicles (PHEV) is expected to register significant growth over the forecast period due to the increasing government initiatives of developing nations to promote the manufacturing of the Electric Vehicles.
• Asia-Pacific has the highest adoption rate in the market due to the increasing urban population in countries such as China, Malaysia, India, and Indonesia and the increasing disposable income of the consumers.
• Key participants include Volkswagen Group, Tesla Motors, BYD Company Ltd., Ford Motor Company, Nissan Motor Company, Toyota Motor Corporation, Daimler AG, BMW, Mitsubishi Motors Corporation, and Hyundai, among others.

Electric Vehicles Market Segmentation:

Emergen Research has segmented the global Electric Vehicles Market on the basis of Product, Vehicle Type, Vehicle Class, and region:

Product Outlook (Revenue, USD Billion; 2017-2027)

• Plug-in hybrid electric vehicle (PHEV)
• Battery electric vehicle (BEV)
• Hybrid electric vehicle (HEV)
• Fuel cell electric vehicle (FCEV)

Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)

• Commercial Vehicle
• Two wheeler
• Passenger Car

Vehicle Class Outlook (Revenue, USD Billion; 2017-2027)

• Luxury
• Mid-Priced

The regional bifurcation of the market analyzes key market segments such as North America, Latin America, Europe, AsiaPacific, and Middle East & Africa.In conclusion, the research report on the Electric Vehicles market assesses growth prospects, opportunities, challenges, risks, threats, and trends to offer a comprehensive idea of the regional and global Electric Vehicles market.

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Key highlights of the report:

• The latest report performs an in-depth study of the potential opportunities and risks associated with the global Electric Vehicles market, alongside studying the recent innovations and major events.
• The report underlines the niche segments/regions that exhibit potential growth over the forecast timeframe.
• The report analyzes numerous business expansion strategies adopted by the contending companies in this market.
• A detailed synopsis of the market includes the rapidly changing market dynamics and accurate prediction of the current, historical, and forecast market sizes in terms of volume and value.

Table Of Content:

Chapter 1. Methodology & Sources
    1.1. Market Definition
    1.2. Research Scope
    1.3. Methodology
    1.4. Research Sources
          1.4.1. Primary
          1.4.2. Secondary
          1.4.3. Paid Sources
    1.5. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Electric Vehicles Market Segmentation & Impact Analysis
    4.1. Electric Vehicles Market Material Segmentation Analysis
    4.2. Industrial Outlook
          4.2.1. Market indicators analysis
          4.2.2. Market drivers analysis
                    4.2.2.1. Growing Environmental Awareness
                    4.2.2.2. Increasing R&D for the development of new technologies
                    4.2.2.3. Rising investments in Electric Vehicles by manufacturers
                    4.2.2.4. Increasing Government schemes and initiatives
          4.2.3. Market restraints analysis
                    4.2.3.1. Growing Budget constraints
                    4.2.3.2. Lack of charging infrastructure
                    4.2.3.3. High cost of the Electric Vehicles
                    4.2.3.4. Present challenging economic conditions due to the pandemic
    4.3. Technological Insights
    4.4. Regulatory Framework
    4.5. Porter’s Five Forces Analysis
    4.6. Competitive Metric Space Analysis
    4.7. Price trend Analysis
    4.8. Covid-19 Impact Analysis

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