TOKYO, JAPAN, Sept. 16, 2022 (GLOBE NEWSWIRE) — Facts and Factors has released a new research report titled “The Electric Vehicle (EV) Market by Modules (Onboard Chargers, Cells and Blocks), Infotainment Systems, etc. ), by charging stations (super and conventional), by power (battery electric vehicles, fuel cell electric vehicles, plug-in electric vehicles and hybrid electric vehicles), by vehicle type (two-wheelers, cars and commercial vehicles), by powertrain (series hybrid, parallel hybrid and hybrid hybrid), by vehicle class (luxury and midsize) and by region – global and regional industry overview, market information, comprehensive analysis, historical data and forecast for 2022-2028″ into its research database.
“According to the latest study, the global EV market demand value and share in 2021 will be approximately US$185 billion and is expected to reach US$980 billion by 2028 at a compound annual growth rate (CAGR) of 24.5%. Forecast period 2022-2028”.
The report analyzes market drivers and constraints and their impact on demand over the forecast period. In addition, the report looks at global opportunities in the global electric vehicle (EV) market.
Unlike gasoline-powered vehicles, electric vehicles (EVs) are powered by electricity. Instead of a gasoline engine, these cars use an electric motor that draws a lot of power from the battery. These vehicles use a variety of batteries. Electric vehicles were developed primarily to replace polluting traditional modes of transport. It is becoming more and more popular due to the development of various technologies.
It outperforms conventional vehicles in terms of fuel efficiency, carbon emissions and maintenance, as well as the convenience of charging at home, a smoother ride and less engine noise. Pure electric, hybrid and plug-in hybrid batteries are the three main battery types for electric vehicles. Electric cars are also slightly more expensive than their petrol rivals, though they don’t require an oil change.
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The expansion of the electric vehicle market is being facilitated by a public awareness campaign promoting the use of electric vehicles and an increase in the number of electric vehicle factories. Electric vehicles use low-emission technologies to help reduce greenhouse gas emissions and other environmental issues. To reduce greenhouse gas emissions, some developing countries are turning to long-term solutions. Concerns about emissions from conventional internal combustion engines have boosted the demand for electric vehicles, which has benefited the global electric vehicle market. In many ways, such as motor, battery capacity, and other electrical components, electric vehicles are superior to typical internal combustion engine vehicles.
Even though EVs have been shown to be superior to conventional vehicles, the price of EVs is high, which can lead to apathy among customers in the industry. The lack of charging stations in large cities is a significant obstacle to the expansion of the global market for electric vehicles. The lack of alternative fuel sources for electric vehicles is putting commuting schedules at risk. If the battery is completely discharged, the car may stop, putting the traveler at risk. These shortcomings of electric vehicles constitute a significant disadvantage of the market.
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The report also provides an in-depth analysis of the main competitors in the market and provides information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The research also identifies and analyzes important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. Исследование также определяет и анализирует важные бизнес-стратегии, используемые этими основными игроками рынка, такие как слияния и поглощения (M&A), присоединение, сотрудничество и контракты. The study also identifies and analyzes important business strategies used by these major market players, such as mergers and acquisitions (M&A), acquisitions, collaborations and contracts. The study also identifies and analyzes important business strategies such as mergers and acquisitions (M&A), affiliates, collaborations and contracts used by these key market players. Some of the major competitors dominating the global electric vehicle market are:
The COVID-19 outbreak has negatively impacted the entire automotive industry and therefore the electric vehicle market. According to data provided by the Society of Manufacturers of Electric Vehicles (SMEV), new EV registrations for all types of electric vehicles decreased by 20% in FY 2021 compared to FY 2020.
In addition, during the pandemic, various players are trying to develop new technologies to keep up, such as the deployment of electric vehicles to deliver medical supplies, as they offer economical modes of transport and superior maneuverability. For example, Omega Seiki Mobility launched the Rage+frost, a cold-loading tricycle built to deliver vaccines, medicines and food in these challenging environments.
By modules (on-board chargers, cells and blocks, infotainment system, etc.), by charging stations (super and conventional), by power plants (battery electric vehicles, fuel cell electric vehicles, plug-in electric vehicles and hybrid electric vehicles) average), by vehicle type (two-wheelers, cars and commercial vehicles), by powertrain (series hybrid, parallel hybrid and combined hybrid), by vehicle category (luxury and mid-range prices) and by region – global and regional Report “Industry overview, market information, comprehensive analysis, historical data and forecasts for 2022-2028″ at https://www.fnfresearch.com/electric-vehicle-market
The global electric vehicle market is segmented by modules, charging stations, power units, vehicle types, power units, vehicle categories and regions.
By module, the market is divided into on-board chargers, battery cells & packs, infotainment systems, and others. By module, the market is divided into on-board chargers, battery cells & packs, infotainment systems, and others. By modules, the market is divided into on-board chargers, battery cells and blocks, infotainment systems and others. By modules, the market is divided into on-board chargers, batteries and battery packs, infotainment systems, and others. Growing demand for electric vehicles unexpectedly increased the production of cells and batteries. Because of this factor, car battery manufacturers or suppliers always focus on research and development, which helps to reduce battery costs. This aspect allows the market to grow at the maximum CAGR rate. By charging stations, the market is divided into supermarkets and regular markets. Conventional charging stations dominate the market as most customers choose to charge their vehicles at home when not in use. Depending on the power plant, the market is divided into battery electric vehicles, fuel cell electric vehicles, plug-in electric vehicles and hybrid electric vehicles. The battery electric vehicle segment dominates the market, but hybrid electric vehicles are expected to grow at the fastest pace in the coming years.
By vehicle type, the market is divided into two-wheelers, passenger cars and commercial vehicles. Passenger cars dominate the market with the highest CAGR. By transmission, the market is divided into series hybrid, parallel hybrid and combined hybrid. The stock hybrid powertrain dominates the market because it delivers maximum efficiency when driving on city streets or in congested areas. Compared to parallel hybrids, series hybrids have higher fuel efficiency and lower emissions. By car type, the market is divided into luxury and middle class cars. The mid-price segment dominates and has the highest CAGR.
The Asia-Pacific electric vehicle industry is dominated by China, the world’s leading electric vehicle manufacturer and exporter of key electric vehicle components. According to the IEA forecast for global electric vehicles, China will become the market leader in 2030 with a share of about 57%. In addition, foreign manufacturers such as General Motors and Volkswagen are expanding their business in China. The European region is expected to grow at the fastest pace during the forecast period due to increased consumption by the population.
Post time: Sep-23-2022