The Global Electric Mobility Market was valued at US $482.83 Billion in 2022. The market is expected to grow at a CAGR of 10.37% valuing at US $963.55 Billion by 2029.
Electric Mobility Market Overview:
The Electric Mobility market research provides a comprehensive insight into the competition, including the market share and company profiles of the world’s biggest rivals. The research scope covers a comprehensive examination of the Electric Mobility Market, as well as the causes for variances in the industry’s growth across a variety of sectors.
Electric Mobility Market Scope:
Top-down and bottom-up approaches are used to validate market size and estimate market size by segment. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market Size in the relevant area or nation.
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Electric Mobility Market Dynamics:
Market Drivers
Here are some of the major factors influencing the market for electric vehicles:
Governmental Measures:The electric mobility market is greatly shaped by governmental legislation. Many nations have established tax credits and rebates as well as other incentives and subsidies to encourage the use of electric vehicles. The market is also expanding as a result of other rules and mandates, like pollution standards and zero-emissions car requirements. Government backing, while varying in type and degree by location, is a major factor in the expansion of the market.
Electric Mobility Market Segmentation:
by Vehicle Type
• Electric Passenger Cars
• Electric Buses
• Electric Trucks
• Electric Motorcycles and Scooters
by Technology
• Battery Electric Vehicles (BEVs)
• Plug-in Hybrid Electric Vehicles (PHEVs)
• Fuel Cell Electric Vehicles (FCEVs)
by Infrastructure
• EV Charging Stations (Level 1, Level 2, DC Fast Charging)
• Battery Swapping Stations
• Wireless Charging
by End-User
• Personal Mobility (Passenger Cars and Two-Wheelers)
• Public Transport (Buses and Trains)
• Commercial Fleets (Delivery Vans and Trucks)
by Power Output
• Low-Power Electric Mobility (Electric Two-Wheelers and Low-Power Passenger Cars)
• Medium-Power Electric Mobility (Electric Passenger Cars and Light Commercial Vehicles)
• High-Power Electric Mobility (Electric Buses and Heavy-Duty Commercial Vehicles)
by Component
• Electric Motors
• Lithium-ion Batteries
• Power Electronics
• On-board Chargers
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Electric Mobility Market Key Players:
Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.
The biggest players in the Electric Mobility market are as follows:
North America:
• Tesla – USA
• General Motors – USA
• Ford Motor Company – USA
• Rivian – USA
• Fisker Inc. – USA
• Lucid Motors – USA
• Proterra – USA
• NIO – Canada
Europe:
• Volkswagen Group – Germany
• BMW Group – Germany
• Daimler AG – Germany
• Renault-Nissan-Mitsubishi Alliance – France/Japan
• Volvo Cars – Sweden
• Polestar – Sweden
• Jaguar Land Rover – UK
• Aston Martin – UK
• Rimac Automobili – Croatia
Asia-Pacific:
• BYD – China
• SAIC Motor – China
• Geely – China
• Tesla – China
• Toyota – Japan
• Honda – Japan
• Hyundai-Kia – South Korea
• Mahindra & Mahindra – India
Africa:
• Mobius Motors – Kenya
• Kiira Motors – Uganda
• Laraki Motors – Morocco
• Electricite de France (EDF) – Egypt/Morocco/Senegal/South Africa
Middle East:
• FMS Tech – United Arab Emirates
• Careem – United Arab Emirates
• Tesla – United Arab Emirates/Saudi Arabia
• EKar – Saudi Arabia
• Emaar Properties – Saudi Arabia
South America:
• WEG – Brazil
• Ambev – Brazil
• Itaipu Binacional – Brazil/Paraguay
• BYD – Brazil/Argentina/Chile
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Individual market influencing components and changes in market laws impacting current and future market trends are also covered in the Electric Mobility market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Electric Mobility Market:
End-user industries where Electric Mobility are utilized saw a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a halt in operations. This resulted in a significant decrease in the revenues of enterprises in these industries, as well as in demand for Electric Mobility manufacturers, harming the Electric Mobility market’s growth in 2020. End-user business demand for Electric Mobility has decreased as a result of lockdowns and an increase in COVID-19 occurrences throughout the world.
Key Questions Answered in the Electric Mobility Market Report are:
- In 2021, which segment accounted for the most share of the Electric Mobility market?
- What is the competitive landscape of the Electric Mobility market?
- What are the key factors influencing Electric Mobility market growth?
- In the Electric Mobility market, which region has the most market share?
- What will be the CAGR of the Electric Mobility market during the forecast period (2029-2029)?
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