Global Electric Vehicle Market | Global Electric Vehicle Market Is Anticipated To Grow At USD 400 Billion By The Forecasted Period: Bonafide Research

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Global Electric Vehicle Market Outlook 2025

The report titled ‘Global Electric Vehicle Market Outlook, 2025’ published by Bonafide Research identifies and discusses recent developments in electric mobility across the globe. The market that was recorded at a value of USD 27.85 Billion in the year 2014 is anticipated to grow to a market of USD 400 Billion the forecasted period. This report not only serves with the facts, figures, and forecasts but also has a detailed study about the Covid effect on the electric vehicle industry.

Electric vehicles use one or more electric motors or traction motors for propulsion. Electric vehicles are a battery electric vehicle (BEV) or a plug-in hybrid electric vehicle (PHEV). The BEV segment includes the vehicles that only use chemical energy stored in rechargeable batteries, with no secondary source of propulsion, while the PHEV segment considers whose battery can be recharged by plugging it into an external source of electric power, and by its on-board engine and generator. Globally, the BEV segment leads the market and is expected to reach over 80% in terms of volume, while the PHEV segment is to portray an anticipated CAGR of 36.03%, through the forecasted period.

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The Asia Pacific market is expected to witness the fastest growth, followed by Europe and North America. The automotive industry in the countries such as China, Japan, and South Korea is inclined toward innovation, technology, and the development of the advanced electric vehicle. While Asia was contributed to a share of 61.34% by volume in 2019, Europe is expected to increase to a share of more than 25% by value by the end of the year 2025. On the other hand, the least contributing regions of Latin America and Middle East & Africa together would be contributing nothing over 3%.

The global electric vehicle is majorly classified into two segment based on price, with the mid-priced vehicle class with limited and less emphasis on expensive features ruled the market with a share of over 70% in 2019. The small urban car will cost only USD 8,680 after incentives with a range of almost 200 miles. Companies are manufacturing comparatively less expensive vehicles, however, with the increase in the disposal income and government incentives, the market is likely to get inclined towards the luxury class segment which is expected to account for an approx share of 40% by end of the forecasted period. As the acknowledgment of commercial electric vehicles is increasing, the segment is likely to reach a market of over 800 Thousand Units by the end of 2025, while the passenger vehicle continues to lead the market. The market for an electric vehicle is potential given the longevity and price of the batteries.

Gaining popularity in 2018, the electric Go-Karting is expected to be the next big thing in the industry. The governments of various countries have formulated stringent CO2 emission norms that have increased the demand for electric vehicles. Besides, the governments are providing incentives and subsidies to encourage EV sales. Even though electric vehicles are a need of the hour, the market is hurdled highly because of the lack of infrastructure and the high manufacturing cost. The gap between the existing infrastructure and the required one for the electric vehicle to overtake the conventional vehicles is huge, becoming a major fuel for the range anxiety among the drivers. The lack of standardization in the charging load is also a major drawback for the global market. The standards differentiate even among the region such as China have GB/T while Japan follows CHAdeMO. Conversely, Korea follows the CCS standards in similar to Europe, and the US. Electric vehicle manufacturers are focusing on overcoming this obstacle by having their charging network.

We provide 10% free customization with this report, we have considered covid-19 effect for year 2020 and in forecast period.

Major Companies Present in the market

The key players of the Global Electric Vehicle market are Tesla, BMW Group, Nissan Motor Corporation, Toyota Motor Corporation, Volkswagen AG, General Motors, Daimler AG, Energica Motor Company BYD Company Motors, and Ford Motor Company, Aiways, Citroen, Lightening GT, Micro Mobility, Zacua, Nio, MW Motors, Peugeot, PoleStar Venturi

Considered in this report

• Geography: Global
• Base year: 2019
• Historical year: 2014
• Forecasted year: 2025

Countries Covered in the report: USA, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, Australia, Brazil, Argentina, Colombia, UAE, Saudi Arabia, Qatar, Africa.

The following aspects are covered in the report “Global Electric Vehicle Market Outlook, 2025

• Market Size By Value for the time period (2014-2025F)
• Market Size By Volume for the time period (2014-2025F)
• Market Share by Vehicle Type (Passenger & Light Commercial)
• Market Share by Propulsion Type (BEV & PHEV)
• Market Share by Sales Channel (2020 & 2026F)
• Market Share by Charging Type ( Normal & Fast)
• Market Share by Vehicle Class (Mid Priced & Luxury)
• Market Share by Region
• Market Share by Country
• Market Share by Company

To Access Complete Report:


1 Executive Summary
2 Report Methodology
3 Global Electric Vehicle Market Outlook
3.1 Market Size
3.1.1 By Value
3.1.2 By Volume
3.2 Market Share
3.2.1 By Vehicle Type
3.2.2 By Propulsion Type (BEV & PHEV)
3.2.3 By Charging Type
3.2.4 By Vehicle Class
3.2.5 By Region
3.2.6 By Country
3.2.7 By Company
3.3 Global BEV Market Outlook
3.4 Global PHEV Market Outlook
4 North America Electric Vehicle Market Outlook
4.1 Market Size
4.1.1 By Value
4.1.2 By Volume
4.2 Market Share
4.2.1 By Vehicle Type
4.2.2 By Propulsion Type (BEV & PHEV)
4.2.3 By Charging Type
4.2.4 By Country
4.3 North America BEV & PHEV Market Outlook
4.3.1 By Value
4.3.2 By Volume
4.4 USA Electric Vehicle Market Outlook
4.4.1 Market Size
4.4.2 Market Share
4.5 Canada Electric Vehicle Market Outlook
4.5.1 Market Size
4.5.2 Market Share
4.6 Mexico Electric Vehicle Market Outlook
4.6.1 Market Size
4.6.2 Market Share
5 Europe Electric Vehicle Market Outlook
5.1 Market Size
5.1.1 By Value
5.1.2 By Volume
5.2 Market Share
5.2.1 By Vehicle Type
5.2.2 By Propulsion Type (BEV & PHEV)
5.2.3 By Charging Type
5.2.4 By Country
5.3 Europe BEV & PHEV Market Outlook
5.3.1 By Value
5.3.2 By Volume
5.4 Germany Electric Vehicle Market Outlook
5.4.1 Market Size
5.4.2 Market Share
5.5 UK Electric Vehicle Market Outlook
5.5.1 Market Size
5.5.2 Market Share
5.6 France Electric Vehicle Market Outlook
5.6.1 Market Size
5.6.2 Market Share
5.7 Norway Electric Vehicle Market Outlook
5.7.1 Market Size
5.7.2 Market Share
5.8 Netherlands Electric Vehicle Market Outlook
5.8.1 Market Size
5.8.2 Market Share
5.9 Sweden Electric Vehicle Market Outlook
5.9.1 Market Size
5.9.2 Market Share
5.10 Italy Electric Vehicle Market Outlook
5.10.1 Market Size
5.10.2 Market Share
5.11 Spain Electric Vehicle Market Outlook
5.11.1 Market Size
5.11.2 Market Share
6 Asia Pacific Electric Vehicle Market Outlook
6.1 Market Size
6.1.1 By Value
6.1.2 By Volume
6.2 Market Share
6.2.1 By Vehicle Type
6.2.2 By Propulsion Type (BEV & PHEV)
6.2.3 By Charging Type
6.2.4 By Country
6.3 Asia Pacific BEV & PHEV Market Outlook
6.3.1 By Value
6.3.2 By Volume
6.4 China Electric Vehicle Market Outlook
6.4.1 Market Size
6.4.2 Market Share
6.5 Japan Electric Vehicle Market Outlook
6.5.1 Market Size
6.5.2 Market Share
6.6 India Electric Vehicle Market Outlook
6.6.1 Market Size
6.6.2 Market Share
6.7 Australia Electric Vehicle Market Outlook
6.7.1 Market Size
6.7.2 Market Share
6.8 Korea Electric Vehicle Market Outlook
6.8.1 Market Size
6.8.2 Market Share
7 Latin America Electric Vehicle Market Outlook
7.1 Market Size
7.1.1 By Value
7.1.2 By Volume
7.2 Market Share
7.2.1 By Vehicle Type
7.2.2 By Propulsion Type (BEV & PHEV)
7.2.3 By Charging Type
7.2.4 By Country
7.3 Latin America BEV & PHEV Market Outlook
7.3.1 By Value
7.3.2 By Volume
7.4 Brazil Electric Vehicle Market Outlook
7.4.1 Market Size
7.4.2 Market Share
7.5 Chile Electric Vehicle Market Outlook
7.5.1 Market Size
7.5.2 Market Share
7.6 Argentina Electric Vehicle Market Outlook
7.6.1 Market Size
7.6.2 Market Share
7.7 Colombia Electric Vehicle Market Outlook
7.7.1 Market Size
7.7.2 Market Share
8 Middle East and Africa Electric Vehicle Market Outlook
8.1 Market Size
8.1.1 By Value
8.1.2 By Volume
8.2 Market Share
8.2.1 By Vehicle Type
8.2.2 By Propulsion Type (BEV & PHEV)
8.2.3 By Charging Type
8.2.4 By Country
8.3 Middle East and Africa BEV & PHEV Market Outlook
8.3.1 By Value
8.3.2 By Volume
8.4 UAE Market Electric Vehicle Market Outlook
8.4.1 Market Size
8.4.2 Market Share
8.5 Saudi Arabia Market Electric Vehicle Market Outlook
8.5.1 Market Size
8.5.2 Market Share
8.6 Qatar Market Electric Vehicle Market Outlook
8.6.1 Market Size
8.6.2 Market Share
8.7 South Africa Market Electric Vehicle Market Outlook
8.7.1 Market Size
8.7.2 Market Share
9 Market Dynamics
9.1 Key Drivers
9.2 Key Challenges
10 Market Trends and Developments
10.1 Electrification in Heavy Commercial Vehicle Segment
10.2 E-Car Rental Programs
10.3 Income Generation across the Life Cycle of a vehicle
10.4 Omnichannel Approach
11 Competitive Landscape
11.1 Porter’s Five Forces
12 Company Profile
13 Strategic Recommendations
14 Disclaimer

Contact Information:

Bonafide Research
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APAC: +91 7878231309

About us: Bonafide Research is one of the fastest growing market research and consulting company. We are expert in syndicated research reports & custom research solutions across the domains. We have been closely working with fortune 500 clients by helping them in tracking the constantly changing market scenario. Bonafide has continuously made efforts to evolve and enhance the report quality with each passing day. In house, we have published 3500+ high quality research reports with major focus on Indian market. Our client base consists of BCG, Ernst & Young, PwC, McKinsey & Company, Inflexion, Nestle, Unilever, Crompton Greaves, SRF, CPF, Aramax.


Keywords:    Electric Vehicle Market, battery electric vehicle, plug-in hybrid electric vehicle, Market Size, Market Dynamics, Market Trends, Market Research, Market Report, Bonafideresearch

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