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- Published: October 2024
- Pages: 725
- Tables: 261
- Figures: 89
The Global Electric Vehicle Market is experiencing rapid growth across multiple segments, driven by increasing environmental concerns, government regulations, and technological advancements. This diverse market encompasses a wide range of vehicle types, each with unique challenges and opportunities. Passenger vehicles represent the largest segment, with battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) gaining significant market share. Major automakers are investing heavily in electrification, with many committing to all-electric lineups in the coming decades. Commercial vehicles, including light-duty vans and trucks, are seeing increased adoption in urban delivery and service fleets. The total cost of ownership advantages is driving this shift, particularly in last-mile logistics.
In the heavy-duty truck segment, both battery electric and fuel cell electric vehicles are being developed for different use cases. While BEVs are suitable for short and regional haul, fuel cell technology is being explored for long-haul applications. The electric bus market is growing rapidly, particularly in China and Europe, as cities seek to reduce emissions and noise pollution. Both battery electric and fuel cell buses are being deployed, depending on route requirements and infrastructure availability.
Two-wheelers, especially e-scooters and e-bikes, represent a fast-growing segment, particularly in Asia and urban areas worldwide. These vehicles offer an affordable and efficient electric mobility solution for short trips. Emerging segments include electric aircraft (eVTOL for urban air mobility), construction equipment, agricultural vehicles, and marine vessels. These sectors are at earlier stages of electrification but show promising growth potential.
The expansion of charging infrastructure is critical to supporting this market growth. Fast-charging networks, wireless charging, and smart grid integration are key areas of development. As the market evolves, challenges such as battery technology improvements, raw material supply, and grid integration must be addressed. However, the global electric vehicle market is poised for continued strong growth across all segments in the coming decades.
This comprehensive market report provides a detailed analysis of the current state and future outlook of the EV market across various vehicle segments, technologies, and regions through 2045. Report contents include:
- In-depth analysis and forecasts for the following EV segments including market size, growth trends, key players, technological developments, and regional variations:
- Passenger Vehicles: BEVs, PHEVs, and FCEVs
- Light Commercial Vehicles
- Medium and Heavy-Duty Trucks
- Buses
- Two-Wheelers and Micromobility
- Electric Aircraft (eVTOL and conventional)
- Other vehicle types (construction, mining, agriculture)
- Technology Trends
- Battery Technology
- Electric Motors
- Power Electronics
- Fuel Cells
- Charging Technologies
- Regional Analysis including EV adoption rates, sales volumes, policy landscapes, and infrastructure development are examined.
- Competitive Landscape including Major automotive OEMs and their electrification strategies, EV startups and new market entrants, Battery manufacturers, Electric motor and powertrain suppliers, Charging infrastructure companies. Companies profiled include ABB, ADASTEC, Advanced Electric Machines, Audi, Aurora, Autoflight, Auve Tech, AVID Technology, Axalta Coating Systems, Ballard, BAM, BEEP, BelAZ, Bell Textron, BETA Technologies, Beyond Motors, BMW, Bobcat, Bosch, BorgWarner, Bostik, BYD, Cadenza Innovation, CaetanoBus, CALB, Calyos, Carrar, CASE Construction, Caterpillar, CATL, Changan, ChargePoint, Chevrolet, CNH Industrial, Continental, Cummins, Dana, DBT-CEV, DeepWay, DELO, Develon, Dieci, Doosan Bobcat, DuPont, Eaton, Efacec, EHang, Einride, Ekoenergetyka, Electrify America, Elemental Motors, Elaphe, ElDorado National, e-Mersiv, Embraer, Engineered Fluids, Epiroc, Equipmake, Erbslöh, Escorts, EVBox, EverSum, EVgo, EVR Motors, Faresin, Faurecia, FEV, Flo, Ford, Forsee Power, FUCHS, General Electric, General Motors, GKN Automotive, Golden Dragon, Groupe Renault, Grove, Hitachi, Honda, Honeywell, HOLON, Horizon Fuel Cell Technologies, Huawei, Huddig, Hyundai, HYDAC, HYVIA, HYZON Motors, Inceptio, Infinitum Electric, Innoviz, IONITY, Ionna, ITT Cannon, Iveco, Jaguar, Jaunt Air Mobility, JCB, John Deere, Junttan, Kato, Kempower, KEYOU, Kodiak Robotics, Koenigsegg, Komatsu, Kovatera, Kreisel Electric, KULR Technology, Kuhn Schweiz, L&L Products, Leoni, Liebherr, Lilium, LiuGong, Lohr, Lordstown Motors, Lucid, M&I Materials, MacLean Engineering, MAHLE, MAN, May Mobility, Mercedes-Benz, Miba, Mobileye, Monumo, Multione, NeoGraf, New Flyer, Nidec, Nikola, Nio, Nissan, Niron Magnetics, Normet, Northvolt, Ohmio, Ouster, Phoenix Contact, PIX Moving, Plus, Plug Power, Pod Point, Polestar, Pony.ai, Porsche, Protean Electric, Punch Powertrain, Qcraft, RDH Scharf, REFIRE, Renault, RETORQ Motors, Rimac, Rivian, Riversimple, Rokion, Rolls-Royce, SAFRA, SAIC, Saietta, Sandvik, SANY, Schaeffler, Scania, Senior Flexonics, Shantui, Siemens, Sinoboom, Sinosynergy, SkyDrive, Snorkel, Solvay, Solaris, Stanley, StarCharge, Stellantis, Supernal (Hyundai), TE Connectivity, TELD, Terraline, Tesla, Torc Robotics, Toyota, Traktionssysteme Austria (TSA), Traxial, Tritium, TrunkTech, TuSimple, Ultimate Transmissions, Urban Mobility Systems, Valeo, Van Hool, Velodyne LIDAR, Vertical Aerospace, Victrex, Vitesco, Volkswagen, Volocopter, Volvo, WACKER, Wallbox, Waymo, Webasto, WEVO Chemie, WHYLOT, Wisk Aero, Wright Electric, XCMG, Xerotech, XING Mobility, Yamaha, YASA, Yanmar, Yutong, ZF, Zhongtong, Zoomlion, ZQuip.
- Market Forecasts from 2020 to 2045, including:
- EV sales by vehicle type and powertrain
- Battery demand (GWh)
- Charging infrastructure growth
- Raw material demand for EV production
- Total Cost of Ownership Analysis
- Environmental Impact
- Regulatory Landscape
- Future Outlook including:
- Solid-state batteries
- Advanced thermal management
- Autonomous electric vehicles
- New materials and manufacturing processes
- Wireless charging advancements
- AI and machine learning in EV development
Why Buy This Report?
This comprehensive electric vehicle market report offers:
- Unbiased 25-year forecasts based on rigorous modeling and extensive primary research
- Deep-dive analysis of all major EV segments and technologies
- Regional breakdowns to inform global strategy
- Competitive intelligence on key players and emerging challengers
- Total cost of ownership and environmental impact assessments
- Evaluation of policy effectiveness across markets
- Insights on future technologies to maintain competitive edge
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