Global Electric Vehicle Market Research Report – Segmented By Vehicle Type (Plug-in Hybrid Electric Vehicle, Battery Electric Vehicle, Hybrid Electric Vehicle, and Others); By Range (Short Range (up to 150 miles), Medium Range (151-300 miles), and Long Range (Above 300 miles)), By Component (Battery Pack & High Voltage Component, Low Voltage Electric Component, Wheel & Suspension, Electric Motor, Body & Chassis, and Others) and Region- Size, Share, Growth Analysis | Forecast (2025 – 2030)
Published: 2024 - January
Report Code: IM-10743
Format:
Region: Global
What are Electric Vehicle?
The Electric Vehicle (EV) market is centered around vehicles powered by electric propulsion, including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell electric vehicles (FCEVs). This market encompasses the development, manufacturing, and adoption of electric-powered passenger and commercial vehicles, along with the associated infrastructure, such as charging networks and battery technology.
The EV market is a game-changer in the automotive and energy sectors, presenting vast opportunities. It brings new technologies such as autonomous electric driving and wireless charging. It makes transportation easier through seamless integration of digital platforms for mobility and charging, providing flexibility to consumers. The market is safe, with reduced carbon emissions and fewer mechanical failures compared to traditional vehicles, helping mitigate urban air pollution. It is big, fueled by strong governmental support, including tax incentives, regulations promoting green energy, and growing consumer demand for sustainable solutions.
Market Size:
Electric Vehicle Market was valued at USD 1328.1 billion in 2024 and is projected to reach a market size of USD 7121.8 billion by 2030 at a CAGR of 32.3%.
Key Market Players
• AB Volvo
• BYD Company Ltd.
• Tesla, Inc.
• Toyota Motor Corporation
• Volkswagen Group
• Ford Motor Company
• General Motors
• Honda Motor Co., Ltd.
• Kawasaki Motors Corp., U.S.A
• Mercedes-Benz Group AG
• Mitsubishi Motors Corporation
• Nissan Motor Co., Ltd.
• Renault Group
• Zero Motorcycle
Case Study
Tesla, Inc. revolutionized the electric vehicle market by focusing on high-performance BEVs with cutting-edge software integration and an expansive Supercharger network. Its USP is the seamless customer experience, offering both the vehicle and charging solutions in one ecosystem.
Market Dynamics & Popularity:
Electric vehicle sales have increased by over 40% in markets like Europe and China, driven by government mandates and environmental awareness. Consumer interest has surged, particularly in premium EV segments, with companies like Tesla leading the charge in both consumer and business adoption.
Market Segmentation:
By Type
• Battery Electric Vehicles (BEVs)
o Passenger Cars
o Commercial Vehicles
• Plug-in Hybrid Electric Vehicles (PHEVs)
o Passenger Cars
o Commercial Vehicles
• Hybrid Electric Vehicles (HEVs)
o Passenger Cars
o Commercial Vehicles
• Fuel Cell Electric Vehicles (FCEVs)
o Passenger Cars
o Commercial Vehicles
• Two-Wheelers
o Electric Scooters
o Electric Motorcycles
• Three-Wheelers
o Passenger Carrier
o Load Carrier
• Electric Buses
o Battery Electric Buses
o Plug-in Hybrid Buses
o Fuel Cell Electric Buses
• Electric Trucks
o Light-Duty Trucks
o Medium-Duty Trucks
o Heavy-Duty Trucks
• Electric Vans
• Electric Bicycles (e-Bikes)
• Others (Electric Skateboards, Electric Wheelchairs, etc.)
By End User
• Personal Use
• Commercial Use
o Ride-Hailing & Ride-Sharing Services
o Delivery & Logistics
o Public Transport Operators
o Corporate Fleets
• Industrial Use
o Warehousing & Material Handling
o Factory & In-plant Transportation
• Government & Municipal Use
o Law Enforcement
o Municipal Services (e.g., waste collection, street cleaning)
o Public Sector Fleets
• Others (Educational Institutions, Non-profits, etc.)
What’s in It for You?
• Detailed competitive analysis and benchmarking of key players.
• Insights into emerging technologies such as autonomous driving and vehicle-to-grid integration.
• Actionable recommendations on strategic partnerships, joint ventures, and market positioning.
• Intelligence on regulatory trends, subsidies, and policies shaping the future of electric mobility.
• Market forecasts on EV adoption, infrastructure development, and evolving consumer preferences.
Chapter 1. Electric Vehicles Market– Scope & Methodology
1.1 Market Segmentation
1.2 Scope, Assumptions & Limitations
1.3 Research Methodology
1.4 Primary Sources
1.5 Secondary Sources
Chapter 2. Global Filling Machines Market– Executive Summary
2.1 Market Size & Forecast – (2024 – 2030) ($M/$Bn)
2.2 Key Trends & Insights
2.2.1 Demand Side
2.2.2 Supply Side
2.3 Attractive Investment Propositions
2.4 COVID-19 Impact Analysis
Chapter 3. Electric Vehicles Market– Competition Scenario
3.1 Market Share Analysis & Company Benchmarking
3.2 Competitive Strategy & Development Scenario
3.3 Competitive Pricing Analysis
3.4 Supplier-Distributor Analysis
Chapter 4. Electric Vehicles MarketEntry Scenario
4.1 Regulatory Scenario
4.2 Case Studies – Key Start-ups
4.3 Customer Analysis
4.4 PESTLE Analysis
4.5 Porters Five Force Model
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Powers of Customers
4.5.3 Threat of New Entrants
4.5.4 Rivalry among Existing Players
4.5.5 Threat of Substitutes
Chapter 5. Electric Vehicles Market- Landscape
5.1 Value Chain Analysis – Key Stakeholders Impact Analysis
5.2 Market Drivers
5.3 Market Restraints/Challenges
5.4 Market Opportunities
Chapter 6. Electric Vehicles Market -BY VEHICLE TYPE
6.1 Introduction/Key Findings
6.2 Plug-in Hybrid Electric Vehicle
6.3 Battery Electric Vehicle
6.4 Hybrid Electric Vehicle
6.5 Others
6.6 Y-O-Y Growth trend Analysis BY VEHICLE TYPE
6.7 Absolute $ Opportunity Analysis BY VEHICLE TYPE, 2024-2030
Chapter 7. Electric Vehicles Market -BY RANGE
7.1 Introduction/Key Findings
7.2 Short Range (up to 150 miles)
7.3 Medium Range (151-300 miles)
7.4 Long Range (Above 300 miles)
7.5 Y-O-Y Growth trend Analysis BY RANGE
7.6 Absolute $ Opportunity Analysis BY RANGE, 2024-2030
Chapter 8. Electric Vehicles Market - By Component
8.1 Introduction/Key Findings
8.2 Battery Pack & High Voltage Component
8.3 Low Voltage Electric Component
8.4 Wheel & Suspension
8.5 Electric Motor
8.6 Body & Chassis
8.7 Others
8.8 Y-O-Y Growth trend Analysis BY RANGE
8.9 Absolute $ Opportunity Analysis BY RANGE, 2024-2030
Chapter 9. Electric Vehicles Market, By Geography – Market Size, Forecast, Trends & Insights
9.1 North America
9.1.1 By Country
9.1.1.1 U.S.A.
9.1.1.2 Canada
9.1.1.3 Mexico
9.2 BY VEHICLE TYPE
9.3 BY RANGE
9.4 By Component
9.5 Countries & Segments - Market Attractiveness Analysis
9.6 Europe
9.6.1 By Country
9.6.1.1 U.K.
9.6.1.2 Germany
9.6.1.3 France
9.6.1.4 Italy
9.6.1.5 Spain
9.6.1.6 Rest of Europe
9.7 BY VEHICLE TYPE
9.8 BY RANGE
9.9 By Component
9.10 Countries & Segments - Market Attractiveness Analysis
9.11 Asia Pacific
9.11.1 By Country
9.11.1.1 China
9.11.1.2 Japan
9.11.1.3 South Korea
9.11.1.4 India
9.11.1.5 Australia & New Zealand
9.11.1.6 Rest of Asia-Pacific
9.12 BY VEHICLE TYPE
9.13 BY RANGE
9.14 By Component
9.15 Countries & Segments - Market Attractiveness Analysis
9.16 South America
9.16.1 By Country
9.16.1.1 Brazil
9.16.1.2 Argentina
9.16.1.3 Colombia
9.16.1.4 Chile
9.16.1.5 Rest of South America
9.17 BY VEHICLE TYPE
9.18 BY RANGE
9.19 By Component
9.20 Countries & Segments - Market Attractiveness Analysis
9.21 Middle East & Africa
9.21.1 By Country
9.21.1.1 United Arab Emirates
9.21.1.2 Saudi Arabia
9.21.1.3 Qatar
9.21.1.4 Israel
9.21.1.5 South Africa
9.21.1.6 Nigeria
9.21.1.7 Kenya
9.21.1.8 Egypt
9.21.1.9 Rest of MEA
9.22 BY VEHICLE TYPE
9.23 BY RANGE
9.24 By Component
9.25 Countries & Segments - Market Attractiveness Analysis
Chapter 10. Electric Vehicles Market– Company Profiles – (Overview, Product Portfolio, Financials, Strategies & Developments)
10.1 Tesla
10.2 BMW
10.3 Hyundai
10.4 Toyota Motor Corp
10.5 Nissan
10.6 General Motors
10.7 Ford Motor Company
10.8 Volkswagen
10.9 Lucid motors
10.10 Kia Motors
10.11 Tata Motors EV
10.12 Mahindra Electric
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Frequently Asked Questions
Global Electric Vehicle Market was valued at USD 469.66 Billion and is projected to reach a market size of USD 1579.10 Billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 22.1%.
Growing environmental concerns and Technology developments in the automotive industry are the market drivers of the Global Electric Vehicles Market.
Plug-in Hybrid Electric vehicles, Battery Electric Vehicle, Hybrid Electric Vehicle, and Others are the segments under the Global Electric Vehicles Market by vehicle type.
Europe is the most dominant region for the Global Electric Vehicles Market.
Asia-Pacific is the fastest-growing region in the Global Electric Vehicles Market.
