NEW YORK, Dec. 23, 2021 /PRNewswire/ — The Electric Car Market value is set to grow by 7.36 million units, as per the latest report by Technavio.
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Electric Car Market 2021-2025: Segmentation
- Type
- Sedan
- Hatchback
- Others
- Geography
- APAC
- North America
- Europe
- South America
- MEA
The electric car market vendors should focus on grabbing business opportunities from the sedan segment as it accounted for the largest market share in the base year.
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The market is fragmented, and the degree of fragmentation will decelerate during the forecast period. BAIC Motor Corp. Ltd., BMW AG, BYD Co. Ltd., Chongqing Changan Automobile Co. Ltd., Chery, Geely Auto Group, General Motors Co., KIA Motor Corp, Nissan Motor Co. Ltd., and Tesla Inc. are some of the major market participants.
One of the key factors driving growth in the electric car market is the increasing demand and sales of BEVs in the global market. The sales of PHEVs and BEVs recorded significant growth in 2021 globally, especially in China and the US and a few countries in Europe. The number of BEV manufacturers has increased in China over the past couple of years. This is due to the growing demand for new energy vehicles in the country. The presence of electric vehicles supporting infrastructure, government regulations, and subsidies and incentives on the use of all-electric vehicles are a few of the important factors driving the growth of the all-electric vehicle market in China. In Europe, countries such as Norway, the Netherlands, Germany, Iceland, and Poland dominated the regional sales. The growing demand and sales of BEVs in these countries and regions are driving the growth of the global electric cars market.
Learn more about the additional trends & drivers impacting the future of the market and the positive and negative consequences on the businesses. Download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR71683
Electric Car Market 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our Electric Car Market report covers the following areas:
The high cost of ownership of BEVs will be a major challenge for the electric car market during the forecast period. BEVs or all-electric cars are costly compared with conventional vehicles, especially for the consumers of developing automotive markets. In developed automotive markets, the improved socio-economic conditions, developed electric vehicle infrastructure, higher localization of manufacturing, and government incentives/subsidies make BEVs significantly affordable. However, this does not hold true for emerging automotive markets. For the consumers in such markets, the cost of ownership of BEVs is higher compared with the ICE options available in the market. For the majority of consumers, the starting price of an entry-level BEV is costlier when compared with the available ICE options in that price segment. After-sales services such as maintenance of electric vehicle components are expensive due to the immature local market and non-availability of electric vehicle service parts. These factors have been hindering the growth of the global electric cars market.
Electric Car Market 2021-2025: Vendor Analysis
We provide a detailed analysis of vendors operating in the Electric Car Market. Backed with competitive intelligence and benchmarking, our research reports on the Electric Car Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Electric Car Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist electric car market growth during the next five years
- Estimation of the electric car market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the electric car market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of electric car market vendors
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Electric Car Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
|
Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 27.49% |
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Market growth 2021-2025 |
7.36 mn units |
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Market structure |
Fragmented |
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YoY growth (%) |
29.97 |
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Regional analysis |
APAC, North America, Europe, South America, and MEA |
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Performing market contribution |
APAC at 39% |
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Key consumer countries |
China, US, Norway, Japan, and Germany |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
BAIC Motor Corp. Ltd., BMW AG, BYD Co. Ltd., Chongqing Changan Automobile Co. Ltd., Chery, Geely Auto Group, General Motors Co., KIA Motor Corp, Nissan Motor Co. Ltd., and Tesla Inc. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 – 2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- Sedan – Market size and forecast 2020-2025
- Hatchback – Market size and forecast 2020-2025
- Others – Market size and forecast 2020-2025
- Market opportunity by Type
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2020-2025
- North America – Market size and forecast 2020-2025
- Europe – Market size and forecast 2020-2025
- South America – Market size and forecast 2020-2025
- MEA – Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- BAIC Motor Corp. Ltd.
- BMW AG
- BYD Co. Ltd.
- Chongqing Changan Automobile Co. Ltd.
- Chery
- Geely Auto Group
- General Motors Co.
- KIA Motor Corp
- Nissan Motor Co. Ltd.
- Tesla Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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