Industry Background:
Rising prices of the conventional fuel and their disappearing presence are inspiring to search for low-cost substitutes. In order to lower their fuel expenditure, consumer demand for the electronic car is growing owing to their affordable costs which is likely to fuel the growth of the global electronic car market. Upsurge in demand for fuel-efficient, high-performance, and low-emission cars. Additionally, the trend of reduction in vehicular release due to stringent rules & regulations in numerous nations and growth of public charging infrastructure in China, France, Norway, and the other developed countries is fueling the market growth.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia- Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Tesla (United States), BYD (China), BMW (Germany), Volkswagen (Germany), Nissan (Japan), Bayerische Motoren Werke Aktiengesellchaft (Germany), Daimler AG (Germany), Energica Motor Company S.p.A. (Italy), Ford Motor Company (United States) and General Motor Company (United States) |
According to AMA, the market for Electronic Car is expected to register a CAGR of 21.1% during the forecast period to 2030. This growth is primarily driven by Demand for Increased Car Range Per Charge.
Globally, a noticeable market trend is evident Favorable Government Policies and Subsidies
The Automobiles 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 Tesla (United States), BYD (China), BMW (Germany), Volkswagen (Germany), Nissan (Japan), Bayerische Motoren Werke Aktiengesellchaft (Germany), Daimler AG (Germany), Energica Motor Company S.p.A. (Italy), Ford Motor Company (United States) and General Motor Company (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In May 2019, Volkswagen announced pre-booking in Europe for the first model of its new full-electric ID.3. 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 January 2021,Tesla has been flirting with the idea of launching in India for a couple of years now. However, the company has gone back on their statement a couple of times. This time, things are different, for the confirmation of their arrival comes from Nitin Gadkari, Union Minister for Road Transport and Highways. According to his statement, the US-based EV company will kick off their Indian innings by launching their existing portfolio
Influencing Trend:
Favorable Government Policies and Subsidies and Growing Concerns over Environmental Pollution
Market Growth Drivers:
Demand for Increased Car Range Per Charge
Challenges:
Stringent Rules for Installation of Charging Stations
Restraints:
High Cost of Electronics Cars and Lack of Standardization of Charging Infrastructure
Opportunities:
Use of Vehicle-To-Grid (V2g) EV Charging Stations and Growing demand of Car Charging Stations Powered by Renewable Energy
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 Electronic Car Market
- Analysis about New Entrants in Electronic Car 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, Electronic Car Study Sheds Light on
The Electronic Car Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Electronic Car industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Electronic Car 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.