Global Small Electric Vehicle Market Overview:
Small electric vehicle, a substitute for internal combustion engine, is self-propelling transportation systems for passengers and goods utilizing the power stored in batteries through electric motors as well. It is considered to be the next generation vehicle. According to International Energy Agency, in 2017 witnessed the sale of over 1 million of electric cars, and surpassed 3 million worldwide and estimated to reach 125 million units by 2030
Growth Drivers
- Favorable government policies and subsidies
- Heavy Investments from automakers in EVs
- Increased vehicle range per charge
Roadblocks
- Lack of Standardization and High-Cost Investment in the Small Electric Vehicle
Opportunities
- Use of vehicle-to-grid (V2G) EV charging stations for electric vehicles
- The continuous development of new enhanced battery recycling processes
- Electric Vehicle Charging stations powered by solar panels
Challenges
- High cost of EVs in comparison with ICE vehicles
- Lack of proper charging infrastructure in emerging economies
- Small distance covered by EVs
Competitive Landscape:
Some of the key players profiled in the report are Tesla (United States), Nissan (Japan), BMW (Germany), Toyota (Japan), Kia Motors (South Korea), Ford (United States), Volkswagen (Germany), Zhengzhou Yutong Bus (China), Audi (Germany) and BYD (China). Additionally, following companies can also be profiled that are part of our coverage like Renault (France), Mahindra (India) and Hyundai (South Korea). Analyst at AMA Research see German, Japanese, Korean Vendors to retain maximum share of Global Small Electric Vehicle market by 2026. Considering Market by Vehicle, the sub-segment i.e. Passenger Vehicle will boost the Small Electric Vehicle market. Considering Market by Technology, the sub-segment i.e. Battery Electric Vehicle will boost the Small Electric Vehicle market.
According to the Norwegian Road Federation, a public road infrastructure administration in Norway, pure electric cars and hybrid cars in Norway accounted for 52% of all new car sales in 2017 as against 40% in 2016.
"Emissions standards are managed by the Environmental Protection Agency (EPA). Under federal law, the state of California is allowed to promulgate more stringent vehicle emissions standards, and other states may choose to follow either the national or California standards."
What Can be Explored with the Small Electric Vehicle Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Small Electric Vehicle Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Small Electric Vehicle
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Small Electric Vehicle market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Small Electric Vehicle market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Small Electric Vehicle Manufacturers, Small Electric Vehicle Dealers and Traders, Industry Associations and Organizations, Government Bodies, Potential Investors, Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.