Industry Background:
The new energy vehicle industry will show highly lucrative growth over the forecasted period due to increasing consumers spending on battery enabled vehicles, hybrid plug-in vehicles and technological advancement. New Energy Vehicles/Automobile allows users to generate an energy-efficient vehicle which offers one of the ideal solutions as compared to fuel-based automobiles. Over the past few years, government-aided assistance and increasing reimbursements in developing electrical vehicles will help in maximizing business growth. There has been a significant rise in the number of people adopting electric vehicle with figure stood up to 57% in the United States alone in 2018, the future for new energy automobile looks promising. This results in the rising popularity for highly efficient vehicles may trigger demand and help in industry expansion.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Toyota Motor Corporation (Japan), Nissan (Japan), Tesla, Inc. (United States), Mitsubishi Motors Corporation (Japan), General Motors Company (GM) (United States), Ford Motor Company (United States), Bayerische Motoren Werke AG (BMW), Group Renault (France), Volvo Cars (Sweden) and Daimler AG (Germany) |
This growth is primarily driven by Increasing Demand for Highly Advanced Electrical Vehicles and Growing Government Reimbursements in Environmental Pollution Free Automobile Development.
Globally, a noticeable market trend is evident Upsurging Demand for Hybrid Electric Vehicles across Developing Nations
The Automobile Manufacturers sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Toyota Motor Corporation (Japan), Nissan (Japan), Tesla, Inc. (United States), Mitsubishi Motors Corporation (Japan), General Motors Company (GM) (United States), Ford Motor Company (United States), Bayerische Motoren Werke AG (BMW), Group Renault (France), Volvo Cars (Sweden) and Daimler AG (Germany), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In May 2019, Volkswagen has announced pre-booking in Europe for the first model of its new fully-electric ID. The first special edition, which has been configured specially for pre-booking, includes high-quality, high-performance equipment and is limited to 30,000 vehicles. In addition to this, on 1st April 2019, BYD has launched six new electric vehicles and plug-in hybrid models at its spring launch event in Beijing. it will use for all its plug-in hybrid and pure electric vehicles, which will now include 3 more pure electric vehicles and three more “dual-mode” vehicles (or rather, PHEVs – plug-in hybrids).
Influencing Trend:
Upsurging Demand for Hybrid Electric Vehicles across Developing Nations and Addition of Technologically Advanced Features such as Autonomous Vehicles
Market Growth Drivers:
Increasing Demand for Highly Advanced Electrical Vehicles and Growing Government Reimbursements in Environmental Pollution Free Automobile Development
Challenges:
Increasing Distribution Overheads across the Global Automobile Industry and Lack of Availability and Automobile Infrastructure from developing Economies
Restraints:
Comparatively Higher Prices for New Energy Vehicles than the Conventional Automobile Products and Upsurging Raw Material Prices might Stagnate the Global Demand
Opportunities:
Increasing Pollution Has Upsurged the Demand from Developing Economies and Rising Awareness about Environmental Friendly Automobile Products
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in New Energy Vehicle Market
- Analysis about New Entrants in New Energy Vehicle Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, New Energy Vehicle Study Sheds Light on
The New Energy Vehicle Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the New Energy Vehicle industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where New Energy Vehicle industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.