Global Electric Vehicles Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

The Global Electric Vehicles Market is segmented by Vehicle Type ( Commercial Vehicles ) , by Fuel Type ( BEV, FCEV, HEV, PHEV ) and by Region ( Africa, Asia-Pacific, Europe, Middle East, Miidle East, North America, South America )

Electric Vehicle Market Size

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Global Electric Vehicles Market
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https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2016 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 0.67 Trillion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 1.39 Trillion
https://s3.mordorlabs.com/passenger_vehicles/1629285650768_test~passenger_vehicles_passenger_vehicles.svg Largest Share by Vehicle Type Commercial Vehicles
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 15.71 %
https://s3.mordorintelligence.com/globe/1629285706162_test~globe_globe.svg Largest Share by Region Europe

Major Players

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*Disclaimer: Major Players sorted in no particular order

Key Players

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Electric Vehicle Market Analysis

The Global Electric Vehicles Market size is estimated at USD 0.67 trillion in 2024, and is expected to reach USD 1.39 trillion by 2029, growing at a CAGR of 15.71% during the forecast period (2024-2029).

  • Largest Segment by Fuel Type - BEV : Technological enhancements, and charging infrastructure devlopment, stringent norms, incentives are making BEV the largest fuel type in global electric vehicle market.
  • Fastest-growing Segment by Fuel Type - FCEV : FCEV is the fastest-growing fuel type due to its zero emissions, increased economy, and quicker refueling times compared to other electric vehicles.
  • Largest Segment by Vehicle Type - Commercial Vehicles : Due to various governments' increasing sensitivity to a cleaner environment, there is expected to be an increase in demand for zero-emission vehicles during the projected period.
  • Fastest-growing Segment by Region - Africa : The Asia-Pacific region is predicted to have the quickest growth, with countries like China, and India leading the way in terms of innovation, technology, and the development of cutting-edge EVs.

Electric Vehicle Market Trends

This section covers the major market trends shaping the Electric Vehicle Market according to our research experts:

Commercial Vehicles is the largest segment by Vehicle Type.

Global Electric Vehicles Market

Europe is the largest segment by Region.

Global Electric Vehicles Market

Electric Vehicle Industry Overview

The Global Electric Vehicles Market is fairly consolidated, with the top five companies occupying 71.50%. The major players in this market are BYD Motors Inc., General Motors Company, Groupe Renault, Tesla Inc. and Volkswagen AG (sorted alphabetically).

Electric Vehicle Market Leaders

  1. BYD Motors Inc.

  2. General Motors Company

  3. Groupe Renault

  4. Tesla Inc.

  5. Volkswagen AG

*Disclaimer: Major Players sorted in no particular order

Global Electric Vehicles Market
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Electric Vehicle Market News

  • August 2022: General Motors Middle East (GM MEO), announced the signing of a Memorandum of Understanding (MoU) with Al Wegdaniya Transport to explore electric vehicle (EV) leasing opportunities. The MoU reinforces the mutual commitment to bring electrification to all modes of transport.
  • July 2022: Ford has announced a series of initiatives for sourcing battery capacity and raw materials that helps reach its targeted annual run rate of 600,000 electric vehicles by late 2023 and more than 2 million by the end of 2026.
  • January 2022: Volkswagen premiered the new ID.4 GTX fully electric vehicle with dual motor-based all wheel drive. The car comes equipped with 3D real-time graphics system that is expected to improve vehicle and passenger safety.

Electric Vehicle Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1. Study Assumptions & Market Definition

    2. 1.2. Scope of the Study

    3. 1.3. Research Methodology

  2. 2. KEY INDUSTRY TRENDS

    1. 2.1. Population

    2. 2.2. GDP

    3. 2.3. CVP

    4. 2.4. Inflation Rate

    5. 2.5. Interest Rate For Auto Loans

    6. 2.6. Battery Price (per Kwh)

    7. 2.7. Logistics Performance Index

    8. 2.8. Electrification Impact

    9. 2.9. New XEV Models Announced

    10. 2.10. Charging Stations Deployment

    11. 2.11. Regulatory Framework

    12. 2.12. Value Chain & Distribution Channel Analysis

  3. 3. MARKET SEGMENTATION

    1. 3.1. Vehicle Type

      1. 3.1.1. Commercial Vehicles

        1. 3.1.1.1. Buses

        2. 3.1.1.2. Heavy-duty Commercial Trucks

        3. 3.1.1.3. Light Commercial Pick-up Trucks

        4. 3.1.1.4. Light Commercial Vans

        5. 3.1.1.5. Medium-duty Commercial Trucks

    2. 3.2. Fuel Type

      1. 3.2.1. BEV

      2. 3.2.2. FCEV

      3. 3.2.3. HEV

      4. 3.2.4. PHEV

    3. 3.3. Region

      1. 3.3.1. Africa

        1. 3.3.1.1. South Africa

      2. 3.3.2. Asia-Pacific

        1. 3.3.2.1. Australia

        2. 3.3.2.2. China

        3. 3.3.2.3. India

        4. 3.3.2.4. Indonesia

        5. 3.3.2.5. Japan

        6. 3.3.2.6. Malaysia

        7. 3.3.2.7. South Korea

        8. 3.3.2.8. Thailand

        9. 3.3.2.9. Rest-of-APAC

      3. 3.3.3. Europe

        1. 3.3.3.1. Austria

        2. 3.3.3.2. Belgium

        3. 3.3.3.3. Czech Republic

        4. 3.3.3.4. Denmark

        5. 3.3.3.5. Estonia

        6. 3.3.3.6. France

        7. 3.3.3.7. Germany

        8. 3.3.3.8. Ireland

        9. 3.3.3.9. Italy

        10. 3.3.3.10. Latvia

        11. 3.3.3.11. Lithuania

        12. 3.3.3.12. Norway

        13. 3.3.3.13. Poland

        14. 3.3.3.14. Russia

        15. 3.3.3.15. Spain

        16. 3.3.3.16. Sweden

        17. 3.3.3.17. UK

        18. 3.3.3.18. Rest-of-Europe

      4. 3.3.4. Middle East

        1. 3.3.4.1. UAE

        2. 3.3.4.2. Rest-of-MEA

      5. 3.3.5. Miidle East

      6. 3.3.6. North America

        1. 3.3.6.1. Canada

        2. 3.3.6.2. Mexico

        3. 3.3.6.3. US

        4. 3.3.6.4. Rest-of-North America

      7. 3.3.7. South America

        1. 3.3.7.1. Rest-of-Latin America

  4. 4. COMPETITIVE LANDSCAPE

    1. 4.1. Key Strategic Moves

    2. 4.2. Market Share Analysis

    3. 4.3. Company Landscape

    4. 4.4. Company Profiles

      1. 4.4.1. BYD Motors Inc.

      2. 4.4.2. Daimler AG

      3. 4.4.3. Ford Motor Company

      4. 4.4.4. General Motors Company

      5. 4.4.5. Groupe Renault

      6. 4.4.6. Nissan Motor Company Ltd

      7. 4.4.7. Tesla Inc.

      8. 4.4.8. Toyota motor corporation

      9. 4.4.9. Volkswagen AG

  5. 5. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS

  6. 6. APPENDIX

    1. 6.1. Global Overview

      1. 6.1.1. Overview

      2. 6.1.2. Porter's Five Forces Framework

      3. 6.1.3. Global Value Chain Analysis

      4. 6.1.4. Market Dynamics (DROs)

    2. 6.2. Sources & References

    3. 6.3. List of Tables & Figures

    4. 6.4. Primary Insights

    5. 6.5. Data Pack

    6. 6.6. Glossary of Terms

List of Tables & Figures

  1. Figure 1:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 2:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 3:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 4:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 5:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 6:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 7:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 8:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 9:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 10:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 11:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 12:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 13:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 14:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 15:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 16:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 17:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 18:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 19:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 20:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 21:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 22:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 23:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 24:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 25:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 26:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 27:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 28:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 29:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 30:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 31:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 32:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 33:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 34:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 35:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 36:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 37:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, LPI YOY GROWTH RATE, 2016 – 2026
  1. Figure 38:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, LPI YOY GROWTH RATE, 2016 – 2026
  1. Figure 39:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, LPI YOY GROWTH RATE, 2016 – 2026
  1. Figure 40:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, LPI YOY GROWTH RATE, 2016 – 2026
  1. Figure 41:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, LPI YOY GROWTH RATE, 2016 – 2026
  1. Figure 42:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, LPI YOY GROWTH RATE, 2016 – 2026
  1. Figure 43:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, ELECTRIFICATION IMPACT, VOLUME, YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 44:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, CHARGING STATIONS DEPLOYMENT, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
  1. Figure 45:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, VOLUME IN UNITS, 2016 – 2026
  1. Figure 46:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, VALUE IN USD, 2016 – 2026
  1. Figure 47:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY VEHICLE TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 48:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY VEHICLE TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 49:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2016 - 2028
  1. Figure 50:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2016 - 2028
  1. Figure 51:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY SUB BODY TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 52:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY SUB BODY TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 53:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
  1. Figure 54:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
  1. Figure 55:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY BUSES, BY VOLUME IN UNITS, 2016-2028
  1. Figure 56:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY BUSES, BY VALUE IN USD, 2016-2028
  1. Figure 57:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
  1. Figure 58:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 59:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
  1. Figure 60:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
  1. Figure 61:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 62:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VALUE IN USD, 2016-2028
  1. Figure 63:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
  1. Figure 64:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 65:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VALUE IN USD, 2016-2028
  1. Figure 66:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
  1. Figure 67:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 68:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
  1. Figure 69:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY FUEL TYPE, 2021 - 2028
  1. Figure 70:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY FUEL TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 71:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY FUEL TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 72:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 73:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 74:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY BEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 75:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY BEV, BY VALUE IN USD, 2016-2028
  1. Figure 76:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 77:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY FCEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 78:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY FCEV, BY VALUE IN USD, 2016-2028
  1. Figure 79:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 80:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY HEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 81:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY HEV, BY VALUE IN USD, 2016-2028
  1. Figure 82:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 83:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY PHEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 84:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY PHEV, BY VALUE IN USD, 2016-2028
  1. Figure 85:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 86:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY REGION, BY VOLUME IN UNITS, 2016-2028
  1. Figure 87:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY REGION, BY VALUE IN USD, 2016-2028
  1. Figure 88:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY REGION, 2016 - 2028
  1. Figure 89:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY REGION, 2016 - 2028
  1. Figure 90:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 91:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
  1. Figure 92:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 93:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 94:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY SOUTH AFRICA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 95:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY SOUTH AFRICA, BY VALUE IN USD, 2016-2028
  1. Figure 96:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 97:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 98:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
  1. Figure 99:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 100:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 101:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY AUSTRALIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 102:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY AUSTRALIA, BY VALUE IN USD, 2016-2028
  1. Figure 103:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 104:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY CHINA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 105:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY CHINA, BY VALUE IN USD, 2016-2028
  1. Figure 106:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 107:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY INDIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 108:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY INDIA, BY VALUE IN USD, 2016-2028
  1. Figure 109:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 110:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY INDONESIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 111:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY INDONESIA, BY VALUE IN USD, 2016-2028
  1. Figure 112:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 113:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY JAPAN, BY VOLUME IN UNITS, 2016-2028
  1. Figure 114:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY JAPAN, BY VALUE IN USD, 2016-2028
  1. Figure 115:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 116:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY MALAYSIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 117:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY MALAYSIA, BY VALUE IN USD, 2016-2028
  1. Figure 118:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 119:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY SOUTH KOREA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 120:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY SOUTH KOREA, BY VALUE IN USD, 2016-2028
  1. Figure 121:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 122:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY THAILAND, BY VOLUME IN UNITS, 2016-2028
  1. Figure 123:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY THAILAND, BY VALUE IN USD, 2016-2028
  1. Figure 124:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 125:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY REST-OF-APAC, BY VOLUME IN UNITS, 2016-2028
  1. Figure 126:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY REST-OF-APAC, BY VALUE IN USD, 2016-2028
  1. Figure 127:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 128:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 129:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
  1. Figure 130:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 131:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 132:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY AUSTRIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 133:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY AUSTRIA, BY VALUE IN USD, 2016-2028
  1. Figure 134:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 135:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY BELGIUM, BY VOLUME IN UNITS, 2016-2028
  1. Figure 136:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY BELGIUM, BY VALUE IN USD, 2016-2028
  1. Figure 137:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 138:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY CZECH REPUBLIC, BY VOLUME IN UNITS, 2016-2028
  1. Figure 139:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY CZECH REPUBLIC, BY VALUE IN USD, 2016-2028
  1. Figure 140:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 141:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY DENMARK, BY VOLUME IN UNITS, 2016-2028
  1. Figure 142:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY DENMARK, BY VALUE IN USD, 2016-2028
  1. Figure 143:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 144:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY ESTONIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 145:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY ESTONIA, BY VALUE IN USD, 2016-2028
  1. Figure 146:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 147:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY FRANCE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 148:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY FRANCE, BY VALUE IN USD, 2016-2028
  1. Figure 149:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 150:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY GERMANY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 151:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY GERMANY, BY VALUE IN USD, 2016-2028
  1. Figure 152:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 153:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY IRELAND, BY VOLUME IN UNITS, 2016-2028
  1. Figure 154:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY IRELAND, BY VALUE IN USD, 2016-2028
  1. Figure 155:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 156:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY ITALY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 157:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY ITALY, BY VALUE IN USD, 2016-2028
  1. Figure 158:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 159:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY LATVIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 160:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY LATVIA, BY VALUE IN USD, 2016-2028
  1. Figure 161:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 162:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY LITHUANIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 163:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY LITHUANIA, BY VALUE IN USD, 2016-2028
  1. Figure 164:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 165:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY NORWAY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 166:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY NORWAY, BY VALUE IN USD, 2016-2028
  1. Figure 167:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 168:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY POLAND, BY VOLUME IN UNITS, 2016-2028
  1. Figure 169:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY POLAND, BY VALUE IN USD, 2016-2028
  1. Figure 170:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 171:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY RUSSIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 172:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY RUSSIA, BY VALUE IN USD, 2016-2028
  1. Figure 173:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 174:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY SPAIN, BY VOLUME IN UNITS, 2016-2028
  1. Figure 175:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY SPAIN, BY VALUE IN USD, 2016-2028
  1. Figure 176:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 177:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY SWEDEN, BY VOLUME IN UNITS, 2016-2028
  1. Figure 178:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY SWEDEN, BY VALUE IN USD, 2016-2028
  1. Figure 179:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 180:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY UK, BY VOLUME IN UNITS, 2016-2028
  1. Figure 181:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY UK, BY VALUE IN USD, 2016-2028
  1. Figure 182:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 183:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY REST-OF-EUROPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 184:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY REST-OF-EUROPE, BY VALUE IN USD, 2016-2028
  1. Figure 185:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 186:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 187:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
  1. Figure 188:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 189:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 190:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY UAE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 191:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY UAE, BY VALUE IN USD, 2016-2028
  1. Figure 192:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
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  2. GLOBAL ELECTRIC VEHICLES MARKET, BY REST-OF-MEA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 194:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY REST-OF-MEA, BY VALUE IN USD, 2016-2028
  1. Figure 195:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 196:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
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  2. GLOBAL ELECTRIC VEHICLES MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
  1. Figure 198:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 199:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 200:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 201:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
  1. Figure 202:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 203:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 204:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY CANADA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 205:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY CANADA, BY VALUE IN USD, 2016-2028
  1. Figure 206:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 207:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY MEXICO, BY VOLUME IN UNITS, 2016-2028
  1. Figure 208:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY MEXICO, BY VALUE IN USD, 2016-2028
  1. Figure 209:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 210:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY US, BY VOLUME IN UNITS, 2016-2028
  1. Figure 211:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY US, BY VALUE IN USD, 2016-2028
  1. Figure 212:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 213:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY REST-OF-NORTH AMERICA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 214:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY REST-OF-NORTH AMERICA, BY VALUE IN USD, 2016-2028
  1. Figure 215:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 216:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 217:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
  1. Figure 218:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 219:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 220:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY REST-OF-LATIN AMERICA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 221:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, BY REST-OF-LATIN AMERICA, BY VALUE IN USD, 2016-2028
  1. Figure 222:  
  2. GLOBAL ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 223:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
  1. Figure 224:  
  2. GLOBAL ELECTRIC VEHICLES MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
  1. Figure 225:  
  2. GLOBAL ELECTRIC VEHICLES MARKET SHARE(%), BY MAJOR PLAYERS, 2021

Electric Vehicle Industry Segmentation

Commercial Vehicles are covered as segments by Vehicle Type. BEV, FCEV, HEV, PHEV are covered as segments by Fuel Type. Africa, Asia-Pacific, Europe, Middle East, Miidle East, North America, South America are covered as segments by Region.
Vehicle Type
Commercial Vehicles
Buses
Heavy-duty Commercial Trucks
Light Commercial Pick-up Trucks
Light Commercial Vans
Medium-duty Commercial Trucks
Fuel Type
BEV
FCEV
HEV
PHEV
Region
Africa
South Africa
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
South Korea
Thailand
Rest-of-APAC
Europe
Austria
Belgium
Czech Republic
Denmark
Estonia
France
Germany
Ireland
Italy
Latvia
Lithuania
Norway
Poland
Russia
Spain
Sweden
UK
Rest-of-Europe
Middle East
UAE
Rest-of-MEA
Miidle East
North America
Canada
Mexico
US
Rest-of-North America
South America
Rest-of-Latin America
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Market Definition

  • Body Type - It includes buses, light commercial vehicles, medium& heavy-duty vehicles, medium and heavy-duty buses, trucks, M&HDT.
  • Engine Type - Hybrid and electric vehicles are vehicles that run on batteries and use one or more electric motors for propulsion. .
  • Fuel Type - Hybrid and electric vehicles include HEV, PHEV, BEV, and FCEV.
  • Sub Body Type - Under this category, buses, heavy-duty commercial trucks, light commercial pickup trucks, light commercial vans, and medium-duty commercial trucks have been included.
  • Vehicle Type - It includes passenger vehicles, commercial vehicles, and two wheelers.
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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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Electric Vehicle Market Research FAQs

The Global Electric Vehicles Market size is expected to reach USD 0.67 trillion in 2024 and grow at a CAGR of 15.71% to reach USD 1.39 trillion by 2029.

In 2024, the Global Electric Vehicles Market size is expected to reach USD 0.67 trillion.

BYD Motors Inc., General Motors Company, Groupe Renault, Tesla Inc. and Volkswagen AG are the major companies operating in the Global Electric Vehicles Market.

In the Global Electric Vehicles Market, the Commercial Vehicles segment accounts for the largest share by vehicle type.

In 2024, Europe accounts for the largest share by region in the Global Electric Vehicles Market.

In 2023, the Global Electric Vehicles Market size was estimated at USD 557.23 billion. The report covers the Global Electric Vehicles Market historical market size for years: 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Electric Vehicles Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Global Electric Vehicles Industry Report

The global electric vehicle market is projected to experience significant growth due to the increasing demand for safe, eco-friendly, and fuel-efficient vehicles, driven by a desire to minimize carbon footprints and reduce dependency on fossil fuels. Market players are focusing on developing precise electric vehicles capable of handling various road and climate conditions, with the market share of these vehicles expected to rise due to increased purchasing power and demand for zero-carbon emission vehicles. Government regulations and favorable policies, such as stringent emission standards and financial incentives, are further fueling the market. Significant growth is also seen in the passenger vehicles segment, including two-wheelers, due to their safety, comfort, and reliability. The use of energy-efficient AC motors in electric vehicles is also expected to increase. The Asia Pacific region, particularly China and India, is leading in terms of revenue and volume in the electric vehicle industry. According to Mordor Intelligence™ Industry Reports, the 2024 Global Electric Vehicles market share, size, and revenue growth rate statistics are available, including a market forecast outlook to 2029 and a historical overview. A sample of this industry analysis is available as a PDF download.

Global Electric Vehicles Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029