Global Electric Car Market Overview:
The electric car is also known as the battery-electric car. This is automotive that is impelled by at least one electric engine, utilizing energy put away in batteries. Electric vehicles are quieter and have no fumes emanating, and lower outflows overall. Electric vehicles are less expensive than identical ICE vehicles, because of lower powering and upkeep costs. Charging an electric car should be possible at an assortment of charging stations and these stations can be introduced in public areas. Electric cars are a kind of electric vehicle (EV) that has a battery-powered battery pack locally available that can be charged from the electric matrix, and the power put away on the vehicle is the main source that drives the wheels for impetus. The expression "electric cars" by and large alludes to expressway skilled cars, yet there are likewise low-speed electric vehicles with limits as far as weight, force, and greatest speed that are permitted to go on open streets.
- Growing demand for low emission commuting long-range supporting electric cars
- Increase in technological advancements regarding batteries and rise in production of batteries on a mass scale in large volumes
- Decrease in cost of Electric Vehicle batteries
- Lack of charging infrastructure
- High cost of the electric car
- The government are taking initiatives to promote electric vehicle
- Increase research and development activities by existing and new organizations in electric cars
- Insufficient standardization of charging infrastructure
- Reduction of buying and maintenance cost of the electric cars
The Electric Car market is moderately fragmented with the availability of medium and giant organizations in the market. The giant organizations are concentrated on research and development with expansion of their business operations in order to increase their market share and generate revenue. Moreover, small regional players are collaborating with other companies.
Some of the key players profiled in the report are Tesla (United States), Tata Motors (India), Audi (Germany), Mercedes (Germany), Jaguar (United Kingdom), Hyundai (South Korea), MG Motors (Birmingham), Mahindra (India), BMW (Germany) and Volkswagen AG (Germany). Additionally, following companies can also be profiled that are part of our coverage like Storm Motors (India), BYD (China), Volvo (Sweden), Daimler AG (Germany), SAIC Motor (China) and NIO (China). Analyst at AMA Research see Germany Vendors to retain maximum share of Global Electric Car market by 2026. Considering Market by By Pricing, the sub-segment i.e. Mid-Priced will boost the Electric Car market. Considering Market by By Car Type, the sub-segment i.e. Passenger Cars will boost the Electric Car market. Considering Market by By Charging , the sub-segment i.e. Normal Charging will boost the Electric Car market. Considering Market by By Speed, the sub-segment i.e. <125 MPH will boost the Electric Car market. Considering Market by By Drive, the sub-segment i.e. All-Wheel Drive will boost the Electric Car market.
Latest Market Insights:
On 3 September 2021, YASA a British electric motor startup with a revolutionary “axial-flux” motor, was acquired by Mercedes-Benz. YASA will now develop ultra-high-performance electric motors for Mercedes-Benz’s AMG.EA electric-only platform. It will stay in the U.K. as a fully owned subsidiary, serving both Mercedes-Benz and existing customers like Ferrari.
On 22 September 2021, German luxury car manufacturer Audi, added two fully electric four-door coupes – the Audi e-Tron GT and the Audi RS e-Tron GT – to its range of electric vehicles in India. These are the first fully electric sports cars from Audi and these vehicles are designed to outperform
Federal Motor Vehicle Safety Standards (FMVSS) are the United States vehicle regulations and a rule specifying authority provide guidelines regarding design, performance, and durability requirements, safety-related components, systems, and design features. and Canada Motor Vehicle Safety Standards (CMVSS) is the Canadian regulatory body that provides rules and guidelines for vehicle manufacturing and on-road driving rules and regulations.
What Can be Explored with the Electric Car Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Electric Car Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Electric Car
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Electric Car market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Electric Car market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Industry Associations, Government Regulatory, Battery Suppliers, Engine Part Manufactures, Engine Part Suppliers and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Electric Car Market?
The Electric Car market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Electric Car Market?
Top performing companies in the Global Electric Car market are Tesla (United States), Tata Motors (India), Audi (Germany), Mercedes (Germany), Jaguar (United Kingdom), Hyundai (South Korea), MG Motors (Birmingham), Mahindra (India), BMW (Germany) and Volkswagen AG (Germany), to name a few.
3. What trending factors would impact Electric Car Market growth most?
"Different countries shifting from normal vehicles to electric vehicles to protect the environment and due to scare of oil resources
" is seen as one of major influencing trends for Electric Car Market during projected period 2020-2026.