PUBLISHER: Value Market Research | PRODUCT CODE: 1392381
PUBLISHER: Value Market Research | PRODUCT CODE: 1392381
The global demand for Electric Passenger Cars Market is presumed to reach the market size of nearly USD 2485.71 BN by 2030 from USD 222.66 BN in 2022 with a CAGR of 35.2% under the study period of 2023 - 2030.
Unlike its gasoline-powered sibling, an electric passenger car runs on electricity. These vehicles use an electric motor instead of an internal combustion engine, which requires a constant supply of energy from batteries to operate. The cars include a variety of batteries such as lithium-ion, molten salt, zinc-air, and other nickel-based designs. The electric passenger cars aimed to replace traditional modes of transportation that pollute the environment. Due to several technical breakthroughs, it has grown in popularity. It surpasses conventional vehicles in terms of fuel economy, carbon emissions, maintenance, less engine noise, a smoother ride, and the convenience of charging at home.
The factors that have led to the rising demand for the electric passenger cars market are increased desire for fuel-efficient, high-performance, low-emission automobiles, strict government rules and regulations on vehicle emissions, lower battery costs, and rising fuel costs. However, obstacles such as a lack of charging infrastructure, high production costs, range anxiety, and serviceability impede the EV market's growth. Nonetheless, technical developments, proactive government initiatives, and the development of self-driving electric vehicle technology are likely to provide abundant chances for the electric vehicle market's main players.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of electric passenger cars. The growth and trends of Electric Passenger Cars Industry provide a holistic approach to this study.
This section of the electric passenger cars market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Electric Passenger Cars market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the electric passenger cars market include Tesla, General Motors Company, TOYOTA MOTOR CORPORATION, Nissan Motor Corporation, Volkswagen AG. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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