Global Electric Vehicle Market – Trends & Forecast, 2017-2023

Globally, the market for Electric Vehicle market is growing at a CAGR of 18.96% during forecasted period (2017-2023). The Electric Vehicle market includes electric motors for the propulsion.

Reference: 180149
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General

Geography Covered
Global
Publisher:
Market Research Future
Publication Date
2017/11/17
Pages
89
Language
  • English
Format
License

Globally, the market for Electric Vehicle market is growing at a CAGR of 18.96% during forecasted period (2017-2023). The Electric Vehicle market includes electric motors for the propulsion. The electric vehicle is driven by electricity from off-vehicle sources such as battery, solar panels or electric generator. There are various types of electric vehicle used by the consumers which includes battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles. Different types of batteries are used in order to power the electric vehicles.

Asia Pacific accounted for the largest market share of 53.20% in 2016 and is projected to grow at a CAGR of 20.35% during the forecast period. In China, there is increased in the production of electric vehicles with an approximate production of 40% in 2016. China is now the most attractive country for electric vehicles. China has named itself as the leading market for electric vehicles. In terms of market development, China has sold more than 507,000 electric vehicles and plug-in hybrid electric vehicle in 2016, which was around 53% rise from 2015.followed by US and Europe.China has stretched its industry leadership by making profits across all scopes of the supply side of electric vehicles containing current and projected production of electric vehicle and their components, such as electric motors and lithium-ion battery cells. The factors that are responsible for the growth of electric vehicle market are surge in demand of electric vehicle worldwide, increasing fuel prices will boost demand of electric vehicles, government initiatives, and expansion of global auto-manufacturers into new emerging markets. It has been experienced that the prices of crude oil per barrel is increasing very rapidly and also the availability the crude oil is decreasing day by day. Due to these factors, the mind-set of large pool of population is shifting their preference towards electric vehicles.
Key Players
The key players in market includes Nissan Motor Company (Japan), Tesla Inc (U.S.), Toyota Motor Corporation (Japan), Ford Motor Company (Detroit), Volkswagen (Europe), BMW (Germany), General Motors (U.S.), Daimler AG (Germany), Hyundai Motor Company (South Korea), Mitsubishi Motors Corporation (Japan).
Key Findings
• The global electric vehicle market is expected to reach USD 356.5 billion by 2023
• Regionally, Asia Pacific has the largest market of USD 205.9 billion by 2023
• China accounted for the largest market share of 61.40% in 2016, with a market value of USD 34.8 billion and is projected to grow at the highest CAGR of 20.85% during the forecast period. Japan was the second-largest market in 2016, valued at USD 9.7 billion in 2016; it is projected to grow at a CAGR of 19.75%.
• On the basis of technology, Battery Electric Vehicles accounted for the largest market share of 51.40% in 2016.
• On basis of vehicle type segment, Passenger Cars accounted for the largest market share of 68.20% in 2016
Geographic Analysis
The report covers brief analysis of geographical region includes
North America
 US
• Canada
Europe
• Germany
• U.K.
• France
• Italy
• Rest of Europe
APAC
• China
• India
• Japan
• Rest of Asia-Pacific
RoW
• Middle East & Africa
• Latin America

Study Objectives of Electric Vehicle Market
• To study detail of electric vehicle market by technology, vehicle type, and by region in forecasted period 2022.
• To identify the market dynamics of electric vehicle market dynamics by drivers, restrains, opportunities and challenges.
• To analyze various factors like value chain analysis and porters five forces model.
• To provide historical and forecast revenue of market segment with respect to North America, Europe, APAC and RoW.
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
• To track mergers and acquisitions, strategic alliances, new product development of specified company.
Intended Audience
• Manufacturers and distributors of electric vehicle market.
• Suppliers and traders of electric vehicle market.
• Government, associations and industrial bodies.
• Investors and Trade experts.
• Consulting in automotive experts.

DC description
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Table of Contents

1 Executive Summary 12
2 Introduction 13
2.1 Scope of the Study 13
2.2 Assumptions 13
2.3 Market Structure 13
3 Research Methodology 15
3.1 Research Process 15
3.2 Primary Research 16
3.3 Secondary Research 16
3.4 Market Size Estimation 16
3.5 Forecast Model 18
4 Market Dynamics 19
4.1 Introduction 19
4.2 Market Drivers 20
4.2.1 Surge in Demand of Electric Vehicle Worldwide 20
4.2.2 Increasing Fuel Prices Will Boost Demand of Electric Vehicles 21
4.2.3 Government Initiatives 21
4.2.4 Expansion Of Global Auto-Manufacturers Into New Emerging Markets 22
4.3 Market Restraints 22
4.3.1 High Prices of Electric Vehicles 22
4.3.2 Underdeveloped Aftermarket Services 23
4.4 Market Opportunities 23
4.4.1 Emerging Economies Seeks More Opportunities for Electric Vehicles 23
5 Market Factor Analysis 24
5.1 Porter’s Five Forces Analysis 24
5.1.1 Threat from New Entrants 24
5.1.2 Bargaining Power of Buyers 25
5.1.3 Bargaining Power of Supplier 25
5.1.4 Threat from Substitutes 25
5.1.5 Threat of Rivalry 25
5.2 Value Chain Analysis 26
6 Global Electric Vehicle Market, By Technology 27
6.1 Introduction 27
6.1.1 Battery Electric Vehicles 28
6.1.2 Hybrid Electric Vehicles 29
6.1.3 Plug-In Hybrid Electric Vehicles 29
7 Global Electric Vehicle Market, By Vehicle Type 30
7.1 Introduction 30
7.1.1 Passenger Cars 31
7.1.2 Commercial Vehicles 31
7.1.3 Two Wheelers 31
8 Global Electric Vehicle Market, By Region 32
8.1 Introduction 32
8.2 North America 34
8.2.1 U.S. 36
8.2.2 Canada 37
8.3 Europe 39
8.3.1 Germany 41
8.3.2 U.K. 42
8.3.3 France 43
8.3.4 Italy 44
8.3.5 Rest of Europe 45
8.4 Asia-Pacific 47
8.4.1 China 49
8.4.2 Japan 50
8.4.3 India 51
8.4.4 Rest of Asia-Pacific 53
8.5 Rest of the World 54
8.5.1 Middle East & Africa 56
8.5.2 Latin America 57
9 Competitive Landscape 59
9.1 Introduction 59
9.2 Expansion 60
10 Company Profiles 61
10.1 Nissan Motor Company Ltd 61
10.1.1 Company Overview 61
10.1.2 Products/Services Offering 61
10.1.3 Financial Overview 62
10.1.4 Key Developments 63
10.1.5 Strategy 63
10.1.6 SWOT Analysis 64
10.2 Tesla, Inc. 65
10.2.1 Company Overview 65
10.2.2 Products/Services Offering 65
10.2.3 Financial Overview 65
10.2.4 Key Developments 66
10.2.5 Strategy 67
10.2.6 SWOT Analysis 67
10.3 Toyota Motor Corporation 68
10.3.1 Company Overview 68
10.3.2 Products/Services Offering 68
10.3.3 Financial Overview 68
10.3.4 Key Developments 69
10.3.5 Strategy 70
10.3.6 SWOT Analysis 70
10.4 Ford Motor Company 71
10.4.1 Company Overview 71
10.4.2 Products/Services Offering 71
10.4.3 Financial Overview 71
10.4.4 Key Developments 73
10.4.5 Strategy 73
10.4.6 SWOT Analysis 74
10.5 Volkswagen 75
10.5.1 Company Overview 75
10.5.2 Products/Services Offering 75
10.5.3 Financial Overview 75
10.5.4 Key Developments 76
10.5.5 Strategy 76
10.5.6 SWOT Analysis 77
10.6 BMW 78
10.6.1 Company Overview 78
10.6.2 Products/Services Offering 78
10.6.3 Financial Overview 78
10.6.4 Key Developments 79
10.6.5 Strategy 80
10.7 General Motors 81
10.7.1 Company Overview 81
10.7.2 Products/Services Offering 81
10.7.3 Financial Overview 81
10.7.4 Key Developments 82
10.8 Daimler AG 83
10.8.1 Company Overview 83
10.8.2 Products/Services Offering 83
10.8.3 Financial Overview 83
10.8.4 Key Developments 84
10.9 Hyundai Motor Company 85
10.9.1 Company Overview 85
10.9.2 Products/Services Offering 85
10.9.3 Financial Overview 85
10.9.4 Key Developments 86
10.10 Mitsubishi Motors Corporation 87
10.10.1 Company Overview 87
10.10.2 Products/Services Offering 87
10.10.3 Financial Overview 87
10.10.4 Key Developments 88

 

List of Figures

FIGURE 1 RESEARCH PROCESS OF MRFR 15
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH 17
FIGURE 3 MARKET DYNAMICS 19
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS 20
FIGURE 5 NUMBER OF ELECTRIC CAR ON ROAD IN 2016 (MILLION) 21
FIGURE 6 IMPACT ANALYSIS: MARKET RESTRAINTS 22
FIGURE 7 PORTER’S FIVE FORCES ANALYSIS: ELECTRIC VEHICLE 24
FIGURE 8 VALUE CHAIN ANALYSIS 26
FIGURE 9 GLOBAL ELECTRIC VEHICLE MARKET SHARE, BY TECHNOLOGY, 2016 (%) 27
FIGURE 10 GLOBAL ELECTRIC VEHICLE MARKET, BY TECHNOLOGY, 2015-2023 (USD BILLION) 27
FIGURE 11 GLOBAL ELECTRIC VEHICLE MARKET SHARE, BY VEHICLE TYPE, 2016 (%) 30
FIGURE 12 GLOBAL ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2015-2023 (USD BILLION) 30
FIGURE 13 GLOBAL ELECTRIC VEHICLE MARKET SHARE (%), BY REGION, 2016 32
FIGURE 14 GLOBAL ELECTRIC VEHICLE MARKET, BY REGION, 2015-2023 (USD BILLION) 33
FIGURE 15 NORTH AMERICA ELECTRIC VEHICLE MARKET SHARE (%), 2016 34
FIGURE 16 NORTH AMERICA ELECTRIC VEHICLE MARKET BY COUNTRY, 2015-2023 (USD BILLION) 34
FIGURE 17 EUROPE ELECTRIC VEHICLE MARKET SHARE (%), 2016 39
FIGURE 18 EUROPE ELECTRIC VEHICLE MARKET BY COUNTRY, 2015-2023 (USD BILLION) 39
FIGURE 19 ASIA-PACIFIC ELECTRIC VEHICLE MARKET SHARE (%), 2016 47
FIGURE 20 ASIA-PACIFIC ELECTRIC VEHICLE MARKET BY COUNTRY, 2015-2023 (USD BILLION) 47
FIGURE 21 REST OF THE WORLD ELECTRIC VEHICLE MARKET SHARE (%), 2016 54
FIGURE 22 REST OF THE WORLD ELECTRIC VEHICLE MARKET BY COUNTRY, 2015-2023 (USD BILLION) 54
FIGURE 23 GROWTH STRATEGIES ADOPTED BY KEY PLAYERS IN GLOBAL ELECTRIC VEHICLES MARKET, 2013-2017 59
FIGURE 24 EXPANSION: THE MAJOR STRATERGY ADOPTED BY, BMW & DAIMLER, 2013-2017 60
FIGURE 25 LAUNCH: THE MAJOR STRATERGY ADOPTED BY, TESLA AND TOYOTA, 2013-2017 60
FIGURE 26 NISSAN MOTOR COMPANY: RECENT FINANCIALS 62
FIGURE 27 NISSAN MOTOR COMPANY: GEOGRAPHIC REVENUE, 2016 (%) 62
FIGURE 28 NISSAN MOTOR COMPANY: SWOT ANALYSIS 64
FIGURE 29 TESLA INC: RECENT FINANCIALS 65
FIGURE 30 TESLA INC: SEGMENT REVENUE, 2016 (%) 66
FIGURE 31 TESLA INC: GEOGRAPHIC REVENUE, 2016 (%) 66
FIGURE 32 TESLA MOTORS: SWOT ANALYSIS 67
FIGURE 33 TOYOTA MOTOR CORPORATION: RECENT FINANCIALS 68
FIGURE 34 TOYOTA MOTOR CORPORATION: GEOGRAPHIC REVENUE, 2016 (%) 69
FIGURE 35 SWOT ANALYSIS: TOYOTA MOTOR CORPORATION 70
FIGURE 36 FORD MOTOR COMPANY: RECENT FINANCIALS 71
FIGURE 37 FORD MOTOR COMPANY: GEOGRAPHIC REVENUE, 2016 (%) 72
FIGURE 38 FORD MOTOR COMPANY: SEGMENTAL REVENUE, 2016 (%) 72
FIGURE 39 SWOT ANALYSIS 74
FIGURE 40 VOLKSWAGEN: RECENT FINANCIALS 75
FIGURE 41 VOLKSWAGEN: GEOGRAPHIC REVENUE, 2016 (%) 76
FIGURE 42 VOLKSWAGEN: SWOT ANALYSIS 77
FIGURE 43 BMW: RECENT FINANCIALS 78
FIGURE 44 BMW: SEGMENT REVENUE, 2016 (%) 79
FIGURE 45 BMW: GEOGRAPHIC REVENUE, 2016 (%) 79
FIGURE 46 GENERAL MOTORS: RECENT FINANCIALS 81
FIGURE 47 GENERAL MOTORS: SEGMENTAL REVENUE, 2016 (%) 82
FIGURE 48 GENERAL MOTORS” GEOGRAPHIC REVENUE, 2016 (%) 82
FIGURE 49 DAIMLER AG: RECENT FINANCIALS 83
FIGURE 50 DAIMLER AG: SEGMENTAL REVENUE, 2016 (%) 84
FIGURE 51 DAIMLER AG: GEOGRAPHIC REVENUE, 2016 (%) 84
FIGURE 52 HYUNDAI MOTORS: RECENT FINANCIALS 85
FIGURE 53 HYUNDAI MOTORS: GEOGRAPHIC REVENUE, 2016 (%) 86
FIGURE 54 MITSUBISHI MOTORS CORPORATION: RECENT FINANCIALS 87
FIGURE 55 MITSUBISHI MOTORS CORPORATION: GEOGRAPHIC REVENUE, 2016 (%) 88

 

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