The Global Electric Vehicle (EV) Market size was valued at USD 176.62 billion in 2019 and is predicted to reach USD 1559.84 billion by 2030 with a CAGR of 21.9% from 2020-2030. An electric vehicle runs on electric motors connected to batteries for propulsion instead of the conventional combustion engine that requires fuel to operate. EVs can be powered by collector’s system such as charging stations, inbuilt generators or solar panels to covert the solar energy into electricity. These vehicles provide low carbon emission, requires low maintenance, saves fuel cost, provides convenience of charging at home, smoother drive, and decreased sound from engines. Market Segmentations and Scope of the Study: The global electric vehicle market share has been segmented on the basis of type, vehicle type, vehicle class and geography. On the basis of type, the market is segmented into battery electric vehicle, hybrid electric vehicle and plug-in hybrid electric vehicle. On the basis of vehicle type, the market is segmented into two-wheeler, passenger car and commercial vehicle. On the basis of vehicle class, the market is segmented into mid-priced and luxury. Based on geography the market is segmented into North America, Europe, Asia Pacific and RoW. Request for a free sample- https://www.nextmsc.com/Electric-Vehicle-Market/requestsample Geographical Analysis: North America is anticipated to hold the major market share over the forecast period owing to the increase in demand for fuel efficient and high-performance vehicle, coupled with technological advancement in this region. However, Asia Pacific is also expected to grow rapidly with gradual increase in market size due to the increasing adoption of electric vehicles coupled with changing government regulations and rise in the use of renewable energy. Moreover, growing public awareness with rise in pollution and constantly increasing automotive industry is further expected to support the market growth. Inquire
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before-buying Competitive Landscape Lucrative growth opportunities make the electric vehicle market extremely competitive. Some of the major players in the market are Bayerische Motoren Werke Aktiengesellschaft, BYD Company Ltd., Daimler AG, Energica Motor Company S.P.A, Ford Motor Company,
General Motors Company, Nissan Motor Co. Ltd., Tesla Inc., Toyota Motor Corporation, Volkwagen AG and more. About usNext Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics. We carefully analyse the historical data, augment it by constantly keeping an eye on the latest industry trends and estimate the future events to arrive at accurate market forecasts. For more insights, please visit, https://www.nextmsc.com Tags: #electricvehiclemarketsize #electricvehiclemarketgrowth
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