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Electric Cars Global Market Report 2020-30: Covid 19 Growth and Change

Region:Global

Product Code:7473

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Published On

May 2020

Total pages

200

About the Report

Major players in the electric cars market are Toyota, BMW, BYD, Tesla, Volkswagen, General Motors, BAiC Motors, SAIC, and Daimler AG.
The global electric cars market is expected to decline from USD 533.4 billion in 2019 to 515.8 billion in 2020 at a compound annual growth rate (CAGR) of -3.31%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach USD 1150.7 billion in 2023 at CAGR of 30.67%. The growth is mainly because of their low cost, low maintenance, less carbon emission, convenient charging, less noise from the engine, higher fuel costs, and most importantly being environmentally friendly.
The electric car market consists of electric car sales and services related to it. An electric car is an electric vehicle that runs by a chargeable battery such as Nickel-Metal Hydride (NI-MH) Battery, Lithium-ion Battery, Fuel Cell Battery. Electric cars are available in Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicles (FCEV) which are used for personal home use or commercial use.
Asia-Pacific was the largest region in the electric cars market in 2019. Europe is expected to be the fastest growing region in the forecast period.The development of wireless charging facilities for electric vehicles is the greatest opportunity for both OEMs and end-users. Wireless charging enables charging of an electric vehicle without any inconvenience of finding the right cable connector at the charging point, and/or stopping by at any charging station. Wireless charging uses dynamic and inductive charging technologies where the electricity is transferred from one magnetic coil in the charger to a second magnetic coil connected to a car. Tesla, BMW, Rolls Royce, Volkswagen, Nissan, etc. are working on wireless charging system cars because the OEMs and technology companies figured out that it is much easier to charge an electric vehicle by wireless charging system than a plug-in system. Qualcomm's technologies, continuously working on its wireless charging system called Qualcomm Halo that uses dynamic technology which helps to charge the electric vehicle while driving. Therefore the wireless charging system has a huge scope in the future to electrify vehicles all over the world.
The electric cars market covered in this report is segmented by type into battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), hybrid electric vehicle (HEV). It is also segmented by battery type into lithium-iron-phosphate (LFP), lithium-nickel-manganese cobalt oxide (Li-MnC), lithium-titanate oxide (LTO) battery, lithium-nickel-cobalt-aluminum oxide (NCA) battery, nickel-metal hydride (Ni-Mh) battery, lead acid battery.
 
Lack of standardization of charging infrastructure is slowing down the electric cars market. The charging infrastructure is a charging point for Battery Electric Vehicles (BEV), Plug-in Hybrid Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV), Fuel Cell Electric Vehicles (FCEV) available in every region. According to McKinsey 2018 report, there will be an estimated 120 million electric vehicle units on road by 2030. The demand for electric vehicles is rising due to environmental concerns and health Hazards. The sudden shift to electric vehicles in many regions lead to a lack of charging infrastructure. Tesla, BYD, BAIC Motor, and other international OEMs are expected to launch 66 electric vehicle models in 2020. However, many regions don't have proper charging infrastructure for electric vehicles due to higher up-front capital, higher operating costs, and currently low utilization of electric vehicles. This factor is likely to challenge the growth of this market.
 
In February 2019, Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto (California) acquired Maxwell technologies an Energy storage company for a deal of USD 218 million. Maxwell technologies produce ultracapacitors an energy storage device or battery that is used in electric vehicles. The acquisition helped Tesla to get Maxwell's dry electrode technology which mainly used to produce ultracapacitors. These dry electrode technology ultracapacitors are used in electric vehicles to boost performance and also more cost-effective than other technologies.
 
The growing demand for electric vehicles is driving the electric cars market. Electric cars are one of the fastest-growing segments in the electric vehicles market. According to the InsideEVs report (Electric vehicle world sales database), in 2019 nearly 2.2 million electric vehicles were sold globally. And, according to Forbes, Electric vehicles (EVs) will surge to 57% which is more than half of global passenger car sales by 2040. The major companies in the automobile industry such as Tesla, BMW, Volkswagen, and others are expected to release around 200 models of electric vehicles. Electric vehicles don't use fuel or gas and they are more economical than other vehicles. The demand for an electric vehicle is growing because of their low maintenance, less carbon emission, convenient charging, less noise from the engine, higher fuel costs.

Scope of the Report

Products

1) By Type: Battery Electric Vehicle (BEV); Plug-in Hybrid Electric Vehicle (PHEV); Hybrid Electric Vehicle (HEV) 2) By Battery Type: Lithium-Iron-Phosphate (LFP); Lithium-Nickel-Manganese Cobalt Oxide (Li-NMC); Lithium-Titanate oxide (LTO) battery; Lithium-Nickel-Cobalt-Aluminum oxide (NCA) battery; Nickel-metal hydride (NiMH) battery; Lead Acid Battery

Companies

Toyota; BMW; BYD; Tesla; Volkswagen; General Motors; BAiC Motors; SAIC; Daimler AG; Chery Automobiles; Hyundai; Ford; Changan; Volvo; Anhui Jianghuai Automobile Co. Ltd. (JAC Motors); Renault-Nissan; JMCG; Zotye; Mitsubishi; Yutong; Geely Automobile Holdings Ltd.; Great Wall Motor Co. Ltd.; Audi; Jaguar Land Rover; Mahindra Electric Mobility Ltd.; Honda Motor Co. Ltd.; Energica Motor Company S.P.A.; Nissan Motor Corporation

Table of Contents

1. Executive Summary

2. Electric Cars Market Characteristics

3. Electric Cars Market Size And Growth

3.1. Global Electric Cars Historic Market, 2015-2019, USD Billion

3.1.1. Drivers Of The Market

3.1.2. Restraints On The Market

3.2. Global Electric Cars Forecast Market, 2019-2023F, 2025F, 2030F, USD Billion

3.2.1. Drivers Of The Market

3.2.2. Restraints On the Market

4. Electric Cars Market Segmentation

4.1. Global Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Battery Electric Vehicle (BEV)

Plug-in Hybrid Electric Vehicle (PHEV)

Hybrid Electric Vehicle (HEV)

4.2. Global Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Lithium-Iron-Phosphate (LFP)

Lithium-Nickel-Manganese Cobalt Oxide (Li-NMC)

Lithium-Titanate oxide (LTO) battery

Lithium-Nickel-Cobalt-Aluminum oxide (NCA) battery

Nickel-metal hydride (NiMH) battery

Lead acid battery

5. Electric Cars Market Regional And Country Analysis

5.1. Global Electric Cars Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

5.2. Global Electric Cars Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

6. Asia-Pacific Electric Cars Market

6.1. Asia-Pacific Electric Cars Market Overview

6.2. Asia-Pacific Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

6.3. Asia-Pacific Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

7. China Electric Cars Market

7.1. China Electric Cars Market Overview

7.2. China Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,USD Billion

7.3. China Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,USD Billion

8. India Electric Cars Market

8.1. India Electric Cars Market Overview

8.2. India Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

8.3. India Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

9. Japan Electric Cars Market

9.1. Japan Electric Cars Market Overview

9.2. Japan Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

9.3. Japan Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

10. Australia Electric Cars Market

10.1. Australia Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

10.2. Australia Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

11. Indonesia Electric Cars Market

11.1. Indonesia Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

11.2. Indonesia Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

12. South Korea Electric Cars Market

12.1. South Korea Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

12.2. South Korea Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

13. Western Europe Electric Cars Market

13.1. Western Europe Electric Cars Market Overview

13.2. Western Europe Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

13.3. Western Europe Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

14. UK Electric Cars Market

14.1. UK Electric Cars Market Overview

14.2. UK Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

14.3. UK Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

15. Germany Electric Cars Market

15.1. Germany Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

15.2. Germany Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

16. France Electric Cars Market

16.4. France Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

16.5. France Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

17. Eastern Europe Electric Cars Market

17.1. Eastern Europe Electric Cars Market Overview

17.2. Eastern Europe Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

17.3. Eastern Europe Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

18. Russia Electric Cars Market

18.1. Russia Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

18.2. Russia Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

19. North America Electric Cars Market

19.1. North America Electric Cars Market Overview

19.2. North America Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

19.3. North America Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

20. USA Electric Cars Market

20.1. USA Electric Cars Market Overview

20.2. USA Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

20.3. USA Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

21. South America Electric Cars Market

21.1. South America Electric Cars Market Overview

21.2. South America Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

21.3. South America Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

22. Brazil Electric Cars Market

22.1. Brazil Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

22.2. Brazil Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

23. Middle East Electric Cars Market

23.1. Middle East Electric Cars Market Overview

23.2. Middle East Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

23.3. Middle East Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

24. Africa Electric Cars Market

24.1. Africa Electric Cars Market Overview

24.2. Africa Electric Cars Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

24.3. Africa Electric Cars Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

25. Electric Cars Market Competitive Landscape And Company Profiles

25.1. Electric Cars Market Competitive Landscape

25.2. Electric Cars Market Company Profiles

25.2.1. Toyota

25.2.1.1. Overview

25.2.1.2. Products and Services

25.2.1.3. Strategy

25.2.1.4. Financial Performance

25.2.2. BMW

25.2.2.1. Overview

25.2.2.2. Products and Services

25.2.2.3. Strategy

25.2.2.4. Financial Performance

25.2.3. BYD

25.2.3.1. Overview

25.2.3.2. Products and Services

25.2.3.3. Strategy

25.2.3.4. Financial Performance

25.2.4. Tesla

25.2.4.1. Overview

25.2.4.2. Products and Services

25.2.4.3. Strategy

25.2.4.4. Financial Performance

25.2.5. BMW

25.2.5.1. Overview

25.2.5.2. Products and Services

25.2.5.3. Strategy

25.2.5.4. Financial Performance

26. Key Mergers And Acquisitions In The Electric Cars Market

27. Electric Cars Market Trends And Strategies

28. Electric Cars Market Future Outlook and Potential Analysis

29. Appendix

29.1. Abbreviations

29.2. Currencies

29.3. Research Inquiries

29.4. The Business Research Company

29.5. Copyright And Disclaimer

 

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