An electric vehicle is referred as an electric drive vehicle, which is utilized as a part of at least one electric engines. Electric vehicle (EV), moreover called battery electric vehicle (BEV), is affected by electric engines energized by rechargeable battery packs. In electric vehicle, no fuel is used and there is no internal combustion engine. Electric vehicle is a transport which is self-driving for travelers, and utilizes the power already stored in the electric motor batteries, which work with the help of internal engine installed in electric motors. Electric vehicle is the vehicle without bounds and is exceedingly liable to make customary vehicles obsolete.

Electric Vehicle Component and Infrastructure Market - Overview

Electric vehicle utilizes at least one electric engines or footing engines for propulsion. It can be controlled through an authority framework by power from off-vehicle sources, or might act naturally contained with a battery, sun oriented boards or a generator to change over fuel to electricity. Electric vehicle incorporate street and rail vehicles, surface and submerged vessels, electric air ship and electric rocket.

Based on component the market can be segmented into Battery Cells and Pack, On-Board Charger, Infotainment System and Instrument Cluster.

Electric Vehicle Component and Infrastructure Market - Dynamics

Electric vehicle Market is anticipated to witness constant growth over the forecast period. As the government is introducing numerous favorable policies and providing existing subsidies. Increasing vehicle portfolio and range, and low charging time are the major factors which isdriving the global electric vehicle market.

Environmental effect of the oil based transport infrastructure, alongside the fear of peak oil, has prompted re-established enthusiasm for an electric transportation infrastructure, which will boost the market for electric vehicles.

High research & development costs that are related to the production & development, lack of charging infrastructure, and short lifespan of batteries are some major restraints of the electric vehicle market.

Electric Vehicle Component and Infrastructure Market - Segment

Electric vehicle market is segmented on the basis of propulsion technology into, battery electric vehicle, plug-in hybrid electric vehicle, hybrid electric vehicle, and fuel cell vehicle. The plug-in hybrid electric vehicles segment is anticipated to grow among this segment at a rapid pace in the forecast period as there is the higher flexibility of usage in the forthcoming years in market.

On the basis of vehicle type electric vehicle market is segmented into an electric passenger car, commercial vehicle, and two wheelers. Electric passenger cars are the fastest growing segment in the vehicle type segment. Availability of a broad range of electric passenger car with upgraded technology and rising consumer awareness is the major factor which is driving electric passenger cars segment.

Based on the propulsion technology, electric vehicle market can be segmented into BEV (Battery Electric Vehicle), PHEV (Plug-in Hybrid Electric Vehicle), HEV (Hybrid Electric Vehicle), and FCEV (Fuel Cell Vehicle).

On the basis of regulations, the market can be segmented into battery treatment regulations, safety regulations and subsidies, and taxes based.

Based on charging, electric vehicle can be segmented into normal charging and super charging.

On the basis of geographical regions the market is segmented into seven different regions: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific region, Japan, and Middle East and Africa.

In regional segments, Asia-Pacific is anticipated to witness relatively high growth followed by North America region. Tax rebates subside and availability of charging infrastructure are contributing to the growth in electric vehicle sales in the region.

Electric Vehicle Market: Key Market Players

Some of the key players in the Electric Vehicle Market are BMW, Automotive Energy Supply Corporation, BYD Company Ltd., Car Charging Group, Charge Point, Inc., Delphi Automotive, LG Chem, Nissan Motor Corporation, Panasonic Corporation, Samsung SDI, Tesla Motors Inc., Volkswagen AG, Lucid Motors, Faraday Future, NextEV, Karma Automotive, Next Future Transportation, Inc., and few other regional players.

In 2015, Tesla launched world first electric SUV. A seven-seater 4x4 with hybrid styling and hip gullwing type rear doors, the Model X is additionally outstanding for its guaranteed 257 mile range and quickening to 60mph in as little as 3.2 seconds. Manufacturers of electric vehicle are investing into launching upgraded vehicle and focusing on different approaches to keep up their business in the global electric vehicle market.

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

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All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:

  • Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
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The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to

  • North America, South America, and the Americas
  • Asia Pacific and Japan
  • Europe
  • Latin America
  • Middle East and Africa

The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:

  • What are the major recent trends that can influence the product life cycle and the RoI?
  • Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
  • Which micromarketing initiatives of leading players will bring in investments?
  • What can be the best framework and tools for PESTLE analysis?
  • Which regions will witness rise in new opportunities?
  • Which are the game-changing technologies being used to capture new revenue streams in the near future?
  • Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
  • What is the current and expected intensity of competition the market in the near future?

Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.

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Electric Vehicle Component And Infrastructure Market