PUBLISHER: BCC Research | PRODUCT CODE: 1526034
PUBLISHER: BCC Research | PRODUCT CODE: 1526034
The global market for electric vehicles and fuel cell vehicles was valued at $655.9 billion in 2023. The market is expected to grow from $758.0 billion in 2024 to $1.8 trillion by 2029, at a compound annual growth rate (CAGR) of 18.6% from 2024 to 2029.
The global market for EVs, including the BEV, HEV, and PHEV is expected to grow from $751.2 billion in 2024 to $1.7 trillion by 2029, at a CAGR of 18.2% from 2024 to 2029.
The global market for FCEV is expected to grow from $6.8 billion in 2024 to $41.0 billion by 2029, at a CAGR of 43.3% from 2024 to 2029.
This report includes key segments of EVs and FCEVs, such as propulsion type, vehicle type, and power source. Additionally, the report discusses the technological, regulatory, and market ranking analysis for top players. It further analyzes the market's dynamics and current industry trends. The report also covers patent analysis, the ESG development chapter, emerging technologies, and the impact of the Russia-Ukraine war on the EV and FCEV market. The report concludes by providing detailed company profiles of the top manufacturers in the global market.
Industrial vehicles and low-speed electric vehicles are not considered in the scope. The global volume (thousand units) for all the vehicle types is taken from the International Energy Agency (IEA) EV Outlook 2024 report.
The report also includes geographic analysis for North America, Europe, Asia-Pacific, and the Rest of the World (including South America, the Middle East, and Africa).
The base year is 2023, 2024 is an estimated year, and the market values are forecasted for five years until the end of 2029. All market values are in the dollar ($) billion. All market values are nominal.