Insights Into The Electric Cars Market’s Growth Opportunities Through 2023-2032 – Includes Electric Cars Market Trends
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The growing demand for electric vehicles are expected to drive innovation in electric cars manufacturing, thus driving the market during the forecast period.
The global electric cars market is expected to grow from $278.75 billion in 2022 to $365.72 billion in 2023 at a compound annual growth rate (CAGR) of 31.2%. The global electric cars market size is expected to grow to $1,083.65 billion in 2027 at a CAGR of 31.2%.
Get A Free Sample On The Global Electric Cars Market Report:
Global electric cars Market Segments Include:
- By Type:Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV)
- 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 Scid Battery
- By Application:Home Use, Commercial Use
- By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global electric cars market in 2021.
Major Market Players in the electric cars market include Toyota, BMW, BYD, Tesla, BMW, Volkswagen, General Motors, BAiC Motors, SAIC, and Daimler AG.
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. Because OEMs and technology companies discovered that a wireless charging system is far more convenient than a plug-in system for charging an electric vehicle. Qualcomm’s technologies are continuously working on its wireless charging system called Qualcomm Halo that uses dynamic technology that helps to charge the electric vehicle while driving. Therefore, the wireless charging system has huge scope in the future to electrify vehicles all over the world.
The Electric Cars Global Market Report 2023 provides a electric cars market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The electric cars market forecast analyzes electric cars market size, electric cars market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An electric car is an electric vehicle that runs on a chargeable battery such as a nickel-metal hydride (NI-MH) battery, lithium-ion battery, or fuel cell battery.
Explore Similar Reports From The Business Research Company:
Passenger Car Global Market Report 2023
Commercial Electric Vehicles Global Market Report 2023
Passenger Electric Vehicles Global Market Report 2023
Learn More About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at firstname.lastname@example.org
Follow us on:
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: