Electric Vehicle Market Size, Share, Growth, Analysis by 2030
The global electric vehicle market is projected to grow from USD 396.49 billion in 2024 to USD 620.33 billion by 2030 at a CAGR of 7.7%. Many factors are collectively driving the electric vehicle market. The most important of these is the reduction of the total cost of ownership through lower fuel and maintenance costs than traditional internal combustion engine (ICE) vehicles. The energy density...
Asia Pacific Electric Vehicle Market Projected to reach USD 404.7 billion by 2030
The Asia Pacific Electric Vehicle Market is expected to grow from USD 218.8 billion to USD 404.7 billion by 2030, at a CAGR of 8.1%. The market in Asia Pacific region is led by growing dominance in China, and increasing demand for passenger EVs in South Korea, India, Japan and south east Asian countries such as Thailand, Indonesia, Malaysia and Vietnam. EV sales in China peaked near 50% share of the...
Future of EV Batteries Market Share Projected to Achieve 62 Million Units by 2035
The future of EV batteries market share is set to witness substantial growth, with projections indicating a remarkable 62 million units by 2035. This surge is primarily driven by the increasing demand for electric vehicles (EVs) as consumers and manufacturers prioritize sustainable transportation solutions. Governments worldwide are implementing stringent emissions regulations and providing incentives...