Jan 5, 2018   SOURCE: BusinessWire

Global Electric Vehicle Market 2017-2021 - Increasing Penetration in Developing Countries - Research and Markets

The "Electric Vehicle Market by EV battery Cost, EV Components, Propulsion, Recharging Station, Govt. Regulation and Region - Global Forecast to 2021" report has been added to Research and Markets' offering.

Global Electric Vehicle (EV) sales are projected to grow at a CAGR of 20.68% during the forecast period, to reach 5.76 Million units by 2021, from an estimated 2.25 Million units in 2016.

Government support in form of subsidies, grants, and tax rebates, improving charging infrastructure, increasing vehicle range and reducing EV battery cost has resulted in the growth in sales of EVs globally.

The BEV segment (zero emission vehicles) is set to register the highest growth rate in the Electric Vehicle Market, in comparison with HEVs and PHEVs, because of the availability of better subsidies and support from governments. Increasing vehicle range and improving charging infrastructure has further fueled the demand for BEVs. The Nissan Leaf, and Tesla model S are the most successful and highest selling BEV models in 2016. The growth of BEV sales is projected to continue during the forecast period because of decreasing battery prices, increasing environmental awareness among consumers, and decreasing charging time. It has been projected that the invention of super-fast chargers will enable EV to be fully charged in less than an hour.

The Asia-Pacific region is the largest market for automotive EVs. Japan is the largest market, followed closely by China and the U.S., because of government support, and the availability of strong charging infrastructure. The alarming pollution levels in these countries have forced their governments to announce various kind of financial and non-financial benefits to promote the sales of EVs.

The major restraints considered in the study include the poor charging infrastructure, limited vehicle range, and the short lifespan of the EV battery, which restricts the sales of electric vehicles.

Market Trends

Drivers

  • Governments' Favorable Policies and Existing Subsidies
  • Increasing Product Portfolio of OEMs
  • Increased Vehicle Range Per Charge

Restraints

  • Lack of Charging Infrastructure
  • Short Lifespan of Batteries

Opportunities

  • Increasing Penetration of EVs in Developing Countries
  • Limited Stock of Crude Oil

Challenges

  • High Cost of EVs in Comparison With Ice Vehicles
  • Limited Battery Power

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 EVs, EV Infrastructure & EV Components Market Outlook, By Government Regulation

7 EVs, EV Infrastructure & EV Components Market Outlook, By Future Technology

8 EVs, EV Infrastructure & EV Components Market Outlook, By EV Components

9 EVs, EV Infrastructure & EV Components Market Outlook, By Charging Stations Type

10 EVs, EV Infrastructure & EV Components Market Outlook, By Propulsion Type

11 EVs, EV Infrastructure & EV Components Market Outlook, By Vehicle Type

12 EVs, EV Infrastructure & EV Components Market Outlook, By Region

13 Competitive Landscape

  • Tesla Motors Inc.
  • Nissan Motor Corporation
  • BYD Company Ltd.
  • LG Chem
  • Delphi Automotive
  • Panasonic Corporation
  • Volkswagen AG
  • Samsung SDI
  • Automotive Energy Supply Corporation
  • Car Charging Group
  • Charge Point, Inc.

For more information about this report visit https://www.researchandmarkets.com/research/pk8nsh/global_electric?w=4