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Technavio predicts the global electric vehicle market to grow steadily at a CAGR of over 31% by 2023. One of the primary drivers of the market is the growing demand and sale of BEVs. The rising concerns over GHG emissions coupled with fluctuations in crude oil prices are driving consumers to look for alternatives such as EVs. Besides, many governments across the world are encouraging the adoption of electric vehicles by offering subsidies and tax incentives. These factors are likely to propel the growth of the global electric vehicle market during the forecast period. Download Free Sample Report with COVID-19 Impact Analysis
Technavio has announced its latest market research report titled Gloabl Electric Vehicle Market 2019-2023 (Graphic: Business Wire)
The global electric vehicle market is a part of the global automobile market. The global automobile market includes companies that produce mainly passenger automobiles and light trucks with ICE, electric, and hybrid engines. Our research reports provide a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
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Technavio’s reports are aimed at providing key insights on electric vehicle markets by identifying the key drivers, trends, and, challenges that are impacting the overall automobile market. The research analyses the impact on these factors on the electric vehicle markets, for the present market scenario and over the forecast period. Technavio’s reports provide a comprehensive analysis on the vendors and their offerings, major growth strategies adopted by stakeholders, and the key happenings in the market.
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Automobile Market: Segmentation
Automobile, the parent market, includes the global electric vehicle market within its scope and it is further segmented into multiple sub-segments. Technavio’s reports identify the high growth areas and opportunities for vendors operating in each sub-segment of the global electric vehicle market. The market is segmented as follows:
Vehicle Type
- Passenger vehicle
- Commercial vehicle
Type
- Battery Electric Vehicle
- Hybrid Electric Vehicle
- Plug-in Hybrid Electric Vehicle
Geographic segmentation
- North America
- South America
- Europe
- APAC
- Middle East and Africa
Automobile Market: Geographic Segmentation
The global automobile market has been analyzed across key geographical regions to identify region level market dynamics, developments, and the key growth countries for the forecast period. The regional level analysis identifies the market shares, growth momentum, and key leading countries in the market, which include (but are not limited to) the following:
- North America
- South America
- Europe
- APAC
- Middle East and Africa
Vendor Landscape
Technavio’s industry coverage utilizes multiple sources and tools to gather information about multiple stakeholders and their offerings towards the market. Sources such as company websites, annual reports, whitepapers, subscription & in-house databases, industry journals, publications, and magazines are used in addition to other relevant sources. The vendor landscape provides a framework to estimate the health care supplies market, while also categorizing the vendors into pure-play, category-focused, or diversified based on their offerings. All market reports provide the key and contributing players across the value chain based on in-house influence index, developed using multiple industry and market parameters.
About Technavio
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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20200819005556/en/
CONTACT: Technavio Research
Jesse Maida
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Website:https://www.technavio.com
KEYWORD:
INDUSTRY KEYWORD: ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE
SOURCE: Technavio Research
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PUB: 08/20/2020 02:30 AM/DISC: 08/20/2020 02:30 AM