Electric Car Market, By Vehicle Type (Battery Electric Vehicles, Plug-in Hybrid Electric Vehicles, and Hybrid Electric Vehicles ), By Battery Type, By Range, By Geography

Description

Global electric car market is estimated to be valued at US$ 343.27 Bn in 2024 and is expected to reach US$ 1,576.08 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 24.3% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 343.27 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	24.30%	2031 Value Projection:	US$ 1,576.08 Bn

Figure. Electric Car Market Share (%), By Region, 2024

Global electric car market has been witnessing strong growth over the past few years driven by rising environmental concerns, stringent government regulations regarding vehicular emissions, and focus on developing a sustainable transport ecosystem. The market is expanding at an accelerated pace owing to favorable government policy support in the form of purchase incentives and subsidies for electric vehicles and charging infrastructure development. Moreover, increasing investments by automakers as well as technology giants in developing affordable EV models with longer driving range is further fueling adoption. However, volatile lithium-ion battery costs remain a key challenge for the industry. With continued technological advancements, growing consumer demand for green mobility solutions, and supportive regulatory framework, the global electric car market is well-positioned for significant expansion in the coming years.

Market Dynamics:

The global electric car market is driven by various factors such as rising environmental concerns worldwide about vehicular emissions, stringent government regulations and policies promoting electric vehicle adoption, and increasing investment by automotive OEMs to develop affordable and long-range electric cars. However, high manufacturing costs of electric vehicles and lack of standardization in EV charging infrastructure act as a restraint. Ongoing R&D in battery technologies to achieve higher density and lower costs as well as development of solid-state batteries provide a lucrative opportunity in the market.

Key Features of the Study:

This report provides in-depth analysis of the global electric car market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global electric car market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Tesla, Inc., Nissan Motor Corporation, BMW AG, Ford Motor Company, General Motors Company, Volkswagen AG, Hyundai Motor Company, Kia Corporation, Audi AG, Mercedes-Benz AG, BYD Company Limited, Rivian Automotive, Inc., Lucid Motors, Inc., Polestar Automotive Holding AB, and Volvo Cars

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global electric car market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electric car market

Detailed Segmentation-

Vehicle Type Insights (Revenue, US$ Bn, 2019 - 2031)
- Battery Electric Vehicles (BEVs)
- Plug-in Hybrid Electric Vehicles (PHEVs)
- Hybrid Electric Vehicles (HEVs)
Battery Type Insights (Revenue, US$ Bn, 2019 - 2031)
- Lithium-Ion
- Solid-State
- Nickel-Metal Hydride
Range Insights (Revenue, US$ Bn, 2019 - 2031)
- 150-300 miles
- Below 150 miles
- Above 300 miles
Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Key Players Insights
- Tesla, Inc.
- Nissan Motor Corporation
- BMW AG
- Ford Motor Company
- General Motors Company
- Volkswagen AG
- Hyundai Motor Company
- Kia Corporation
- Audi AG
- Mercedes-Benz AG
- BYD Company Limited
- Rivian Automotive, Inc.
- Lucid Motors, Inc.
- Polestar Automotive Holding AB
- Volvo Cars

Product Code: CMI7429

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Vehicle Type
- Market Snippet, By Battery Type
- Market Snippet, By Range
- Market Snippet, By Region

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic

4. Global Electric Car Market, By Vehicle Type, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Battery Electric Vehicles (BEVs)
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Plug-in Hybrid Electric Vehicles (PHEVs)
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Hybrid Electric Vehicles (HEVs)
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

5. Global Electric Car Market, By Battery Type, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Lithium-Ion
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Solid-State
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Nickel-Metal Hydride
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

6. Global Electric Car Market, By Range, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
150-300 miles
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Below 150 miles
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Above 300 miles
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

7. Global Electric Car Market, By Region, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
North America
- Regional Trends
- Market Size and Forecast, By Vehicle Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Battery Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Range, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Vehicle Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Battery Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Range, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Vehicle Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Battery Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Range, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Vehicle Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Battery Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Range, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East
- Regional Trends
- Market Size and Forecast, By Vehicle Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Battery Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Range, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Israel
  - GCC Countries
  - Rest of the Middle East
Africa
- Regional Trends
- Market Size and Forecast, By Vehicle Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Battery Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Range, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - South Africa
  - North Africa
  - Central Africa

8. Competitive Landscape

Company Profiles
- Tesla, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Nissan Motor Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- BMW AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Ford Motor Company
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- General Motors Company
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Volkswagen AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Hyundai Motor Company
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Kia Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Audi AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Mercedes-Benz AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- BYD Company Limited
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Rivian Automotive, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Lucid Motors, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Polestar Automotive Holding AB
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Volvo Cars
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Research Methodology

References
Research Methodology
About us and Sales Contact