Electric Passenger Cars Market - Global Industry Analysis

Electric Passenger Cars Market Size –By Product (Battery Electric Vehicle and Plug-in Hybrid Electric Vehicle), And By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Published Date: 01-Jul-2021 Category: Automotive Report Format : PDF Pages: 140 Report Code: ZMR-6441 Status : Published

The global Electric Passenger Cars market accrued earnings worth approximately 122.1(USD Billion) in 2019 and is predicted to gain revenue of about 243.5(USD Billion) by 2026, is set to record a CAGR of nearly 33.1% over the period from 2020 to 2026.

Description

The global Electric Passenger Cars market accrued earnings worth approximately 122.1(USD Billion) in 2019 and is predicted to gain revenue of about 243.5(USD Billion) by 2026, is set to record a CAGR of nearly 33.1% over the period from 2020 to 2026. The report offers assessment and analysis of the Electric Passenger Cars market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).

Report Scope :

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Electric Passenger Cars Market: Overview

Electric vehicles are multibillion dollar avenues for utility sector and electric passenger cars are no exception to this. Reportedly, one-fourth of cars on the roads will be of electric type by 2030.With over two million electric vehicles  sold across the globe during 2019 and electric cars accounting for nearly 2.5% of overall light vehicle market share in the same year, the market for electric passenger cars is anticipated to gain traction in the years to come. Demand for producing fuel-efficient vehicles with a need for reducing carbon footprints will create new growth opportunities for electric passenger cars industry in the foreseeable future. Increase in the crude oil prices and requirement for reducing depletion of oil reserves will pave a way for expansion of electric passenger cars market over the upcoming years.

Electric Passenger Cars Market: Growth Dynamics

With technological breakthroughs, regulations, customer acceptance, self-driven vehicles, and ride sharing activities influencing automotive industry, electric passenger cars market is anticipated to witness accelerated surge over the upcoming years. Product innovations has brought a paradigm shift in the automotive vehicle manufacturing sector and helps in reducing electric vehicle battery costs. This, in turn, will push business growth in the next couple of years. Furthermore, surge in use of electric vehicles is a part of broader business strategy adopted by reputed vehicle manufacturing firms for reducing GHG emissions in atmosphere due to raising environmental concerns. In addition to this, rise in sale of battery electric cars as well as plug-in hybrid electric cars will contribute lucratively towards overall market size over assessment period.

Furthermore, in 2019, crude oil use in countries such as the U.S. accounted for approximately 69.7%% in 2019. This has forced governments of developed economies such as the U.S. to look for green alternatives in the form of electric vehicles. This will boost electric passenger cars market trends. For the record, electric vehicle sales in the U.S. increased to nearly 79.5% during 2017-2018.

Competitive Landscape

Europe To Make Huge Contributions Towards Overall Market Revenue By 2026

The growth of the regional market over the assessment period is due to huge sale of electric cars in Europe in 2019. In addition to this, rise in electric vehicle demand in Holland, Germany, Norway, and France will embellish regional market trends. Rise in government subsidies and drastic improvement in battery systems of electric vehicles along with launching of new EU emission protocols will steer regional market growth in coming decade. Reportedly, in 2019, France established carbon-neutral target by 2050 and UK followed the suit by scheduling a ban on polluting vehicles till 2050. Additionally, Germany has decided to reduce GHG emissions by nearly 54.5% by 2030 and nearly 94.5% by 2050. Moreover, supportive government policies and changing customer preferences are likely to act as major drivers for electric passenger cars market across Europe in the near future.

Competitive Landscape

Key participants profiled in study are Daimler AG, General Motors Company, BYD Company Ltd., Tesla, Nissan Motor Company, Ford Motor Company, SAIC Motor Corporation Limited, Volkswagen AG, Mitsubishi Motors Corporation, and TOYOTA MOTOR CORPORATION.

The global Electric Passenger Cars Market is segmented as follows:

By Product

  • Battery Electric Vehicle
  • Plug-in Hybrid Electric Vehicle

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description and Scope
    • 1.2. Research Scope
    • 1.3. Research Methodology
      • 1.3.1. Market Research Type
      • 1.3.2. Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1. Electric Passenger Cars Market, 2016–2026(USD Billion)
    • 2.2. Electric Passenger Cars Market: Snapshot
  • Chapter 3. Global Electric Passenger Cars Market– Industry Analysis
    • 3.1. Electric Passenger Cars Market: Market Dynamics
    • 3.2. Market Drivers
      • 3.2.1. With technulogical breakthroughs, regulations, customer acceptance, self-driven vehicles, and ride sharing activities influencing automotive sector, electric passenger cars market is set to experience humungous surge over the forthcoming years.
      • 3.2.2. Product innovations has brought a paradigm shift in the automotive vehicle manufacturing business and helps in reducing electric vehicle battery prices. This, in turn, will steer business growth in the next couple of years.
    • 3.3. Porter’s Five Forces Analysis
    • 3.4. Market Attractiveness Analysis
      • 3.4.1. Market attractiveness analysis By Product
  • Chapter 4. Global Electric Passenger Cars Market– Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global Electric Passenger Cars Market: company market share, 2019
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New Product launches
      • 4.2.3. Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4. Research and development and Regional expansion
    • 4.3. Price trend analysis
  • Chapter 5. Global Electric Passenger Cars Market– Product Analysis
    • 5.1. Global Electric Passenger Cars Market overview: By Product
      • 5.1.1. Global Electric Passenger Cars Market share, By Product, 2019 and 2026
    • 5.2. Battery Electric Vehicle
      • 5.2.1. Global Electric Passenger Cars Market by Battery Electric Vehicle, 2016–2026(USD Billion)
    • 5.3. Plug-in Hybrid Electric Vehicle
      • 5.3.1. Global Electric Passenger Cars Market by Plug-in Hybrid Electric Vehicle, 2016–2026(USD Billion)
  • Chapter 6. Company Profiles
    • 6.1. Daimler AG
      • 6.1.1. Overview
      • 6.1.2. Financials
      • 6.1.3. Product Portfolio
      • 6.1.4. Business Strategy
      • 6.1.5. Recent Developments
    • 6.2. General Motors Company
      • 6.2.1. Overview
      • 6.2.2. Financials
      • 6.2.3. Product Portfolio
      • 6.2.4. Business Strategy
      • 6.2.5. Recent Developments
    • 6.3. BYD Company Ltd.
      • 6.3.1. Overview
      • 6.3.2. Financials
      • 6.3.3. Product Portfolio
      • 6.3.4. Business Strategy
      • 6.3.5. Recent Developments
    • 6.4. Tesla
      • 6.4.1. Overview
      • 6.4.2. Financials
      • 6.4.3. Product Portfolio
      • 6.4.4. Business Strategy
      • 6.4.5. Recent Development
    • 6.5. Nissan Motor Company
      • 6.5.1. Overview
      • 6.5.2. Financials
      • 6.5.3. Product Portfolio
      • 6.5.4. Business Strategy
      • 6.5.5. Recent Development
    • 6.6. Ford Motor Company
      • 6.6.1. Overview
      • 6.6.2. Financials
      • 6.6.3. Product Portfolio
      • 6.6.4. Business Strategy
      • 6.6.5. Recent Development
    • 6.7. SAIC Motor Corporation Limited
      • 6.7.1. Overview
      • 6.7.2. Financials
      • 6.7.3. Product Portfolio
      • 6.7.4. Business Strategy
      • 6.7.5. Recent Development
    • 6.8. Vulkswagen AG
      • 6.8.1. Overview
      • 6.8.2. Financials
      • 6.8.3. Product Portfolio
      • 6.8.4. Business Strategy
      • 6.8.5. Recent Development
    • 6.9. Mitsubishi Motors Corporation
      • 6.9.1. Overview
      • 6.9.2. Financials
      • 6.9.3. Product Portfolio
      • 6.9.4. Business Strategy
      • 6.9.5. Recent Development
    • 6.10. TOYOTA MOTOR CORPORATION
      • 6.10.1. Overview
      • 6.10.2. Financials
      • 6.10.3. Product Portfolio
      • 6.10.4. Business Strategy
      • 6.10.5. Recent Development

List of Figures

1. Market research Type
2. Market research methodology
3. Global Electric Passenger Cars    Market, 2016–2026(USD Billion)
4. Porter’s Five Forces Analysis
5. Global Electric Passenger Cars    Market attractiveness, By Product
6. Global Electric Passenger Cars    Market share by Product ,2019 and 2026 (USD Billion)
7. Global Electric Passenger Cars    Market by Battery Electric Vehicle, 2016–2026(USD Billion)
8. Global Electric Passenger Cars    Marketby Plug-in Hybrid Electric Vehicle,  2016–2026(USD Billion)
9. Global Electric Passenger Cars    Marketshare, by Region, 2019 and 2026
10. North America Electric Passenger Cars    Market, 2016–2026(USD Billion)
11. Europe Electric Passenger Cars    Market, 2016–2026(USD Billion)
12. Asia Pacific Electric Passenger Cars    Market, 2016–2026(USD Billion)
13. Latin America Electric Passenger Cars    Market, 2016–2026(USD Billion)
14. The Middle East and Africa Electric Passenger Cars    Market, 2016–2026(USD Billion)


List of Tables

1. Global Electric Passenger Cars    Market: snapshot
2. Drivers of the Electric Passenger Cars    Market: impact analysis
3. North America Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
4. The U.S. Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
5. Rest of North America Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
6. Europe Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
7. UK Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
8. France Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
9. Germany Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
10. Rest of Europe Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
11. Asia Pacific Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
12. China Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
13. Japan Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
14. India Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
15. Rest of Asia Pacific Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
16. Latin America Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
17. Brazil Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
18. Rest of Latin America Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
19. The Middle East and Africa Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
20. Saudi Arabia Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
21. South Africa Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)
22. Rest of the Middle East & Africa Electric Passenger Cars    Market revenue, By Product  ,2016–2026(USD Billion)

 
 


 

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FrequentlyAsked Questions

With technological breakthroughs, regulations, customer acceptance, self-driven vehicles, and ride sharing activities influencing automotive industry, electric passenger cars market is set to experience momentous surge over the forthcoming years. Product innovations has brought a paradigm shift in the automotive vehicle manufacturing sector and helps in reducing electric vehicle battery prices. This, in turn, will spur business growth in the next couple of years. Furthermore, surge in use of electric vehicles is a part of broader business strategy adopted by reputed vehicle manufacturing firms for reducing GHG emissions in atmosphere due to raising ecological concerns. In addition to this, rise in sale of battery electric cars as well as plug-in hybrid electric cars will contribute lucratively towards overall market revenue over assessment period.

According to Zion market research report, the global Electric Passenger Cars market accrued earnings worth approximately 122.1(USD Billion) in 2019 and is predicted to gain revenue of about 243.5(USD Billion) by 2026, is set to record a CAGR of nearly 33.1% over the period from 2020 to 2026.

Europe will contribute lucratively towards the global market size over the estimated timeline. The regional market surge is subject to huge sale of electric cars in Europe in 2019. In addition to this, rise in electric vehicle demand in Holland, Germany, Norway, and France will embellish regional market trends. Rise in government subsidies and drastic improvement in battery systems of electric vehicles along with launching of new EU emission protocols will steer regional market growth in coming decade. Reportedly, in 2019, France established carbon-neutral target by 2050 and UK followed the suit by scheduling a ban on polluting vehicles till 2050. Additionally, Germany has decided to reduce GHG emissions by nearly 54.5% by 2030 and nearly 94.5% by 2050.

The key market participants include Daimler AG, General Motors Company, BYD Company Ltd., Tesla, Nissan Motor Company, Ford Motor Company, SAIC Motor Corporation Limited, Volkswagen AG, Mitsubishi Motors Corporation, and TOYOTA MOTOR CORPORATION.

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