Electric Vehicle Market Forecast| COVID-19 Impact, Segmented By Application and Geography Trends, Growth and Forecast To 2025
Electric Vehicle Market Forecast Synopsis
Innovations in battery technology is another key driver of the market. Automotive industry leaders are investing in research & development to develop batteries that elongate the lifespan of the vehicles.
Nissan Motor Company (Japan), Toyota Motor Corporation (Japan), Tesla Inc. (US), Ford Motor Company (US), BMW (Germany), Volkswagen (Germany), General Motors (US), Hyundai Motor Company (South Korea), Daimler AG (Germany), and Mitsubishi Motors Corporation (Japan) are few of the key players of the global Electric Vehicle Market Forecast.
On the basis of technology, the Electric Vehicle Market Forecast has been segmented into hybrid, battery, and plug-in hybrid electric vehicles.
By vehicle type, the Electric Vehicle Market Forecast has been segmented into commercial vehicles, passenger cars, and two wheelers.
The regional assessment of the COVID-19 Impact is included in the report from the following regions - North America, Asia-Pacific (APAC), Europe, and the Rest of the World (RoW). These regional segments are further analyzed on the basis of country-level markets. Asia Pacific has garnered the largest share of the market. It is presumed to maintain its standing at the pole position through the review period. The governments in the economies such as China and India are investing in measures to control air pollution. It is supposed to have a positive effect on the growth curve of the electric vehicles market in the region. Europe is also likely to earn remarkable amount of revenue during the assessment period. Increasing focus on the adoption of industrial electric cars in the region is expected to drive market growth.
In December 2019, MG (Morris Garages) Motor India has announced the introduction of ZS electric vehicle which is anticipated to be launched in the Indian market by 2020.
In December 2019, Tata Motors India has announced the launch of its Nexon electric vehicle (EV).
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