Global Electric Mobility Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
“Global Electric Mobility Market” is the title of an upcoming market research report offered by MarketResearch.biz. Vital data and information are presented in the report while taking into consideration a wide range of critical factors for an in-depth study. Segmentation has been done on the basis of the revenue share of each region, and country, revenue growth driving factors, restraints, as well as opportunities in untapped regions and economies. The company profiles of key players comprise detailed information, recent developments, strategies, and acquisitions & mergers, etc. The global electric mobility market is segmented by product type, battery, voltage, and regions/countries.
Global Electric Mobility Market: Overview
Electric mobility includes vehicles that are powered by an electric motor and receives energy from a power grid. Electric vehicles with a combination of an electric motor and a small combustion engine (Range Extended Electric Vehicles - REEVs) and hybrid vehicles (PHEVs – Plug-in Hybrid Electric Vehicles) that can be recharged externally are included.
Global Electric Mobility Market: Dynamics
Growing concerns over greenhouse gases and the increasing carbon footprintleft by automotive and transportation industries are leading regulatory bodies to promote the use of energy-efficient vehicles. Governments of many countries have started deploying many policies towards this end. Furthermore, a surge in adoption of Mobility-as-a-Service (MaaS) and the decreasing costs of high capacity Li-Ion batteries is leading to a reduction in the average cost of a vehicle. Such factors are contributing to the demand and adoption of electric vehicles. Technological advancements and the economic progress of the automotive industry have led to growing awareness about the cost-effective maintenance of EVs and lower operational costs, including its ability to conserve energy and lower the emission of harmful gases. These developments are expected to contribute to the further growth of the market and the technological improvements in electric vehicles, thereby, benefitting the e-mobility market as a whole.
Government subsidies are being offered to encourage the adoption of electric vehicles. Vehicle manufacturers and governments are currently co-operating to initiating and investing in the development of EV charging infrastructure.
Automobile companies are also working on introducing E-car models into the market. Furthermore, increasing usage of EV sharing services is expected to boost electric mobility market growth. However, the launch of these services varies significantly at both a city and country-level depending on local transportation policies, existing charging infrastructure, and the degree of urbanization.
Global Electric Mobility Market: Segment Analysis
By Product: The electric car segment is projected to account for a majority revenue share of the electric mobility market over the next ten years when compared to other product segments.
By Distribution Channel: The Li-ion segment is projected to continue its dominance in the foreseeable future. The reduced costs of Li-ion battery packs are among several major factors that are leading to segment growth. .
Global Electric Mobility Market Regional Analysis
The Asia Pacific market is projected to account for the highest revenue share over the forecast period. This can be attributed to higher adoption rates of Electric Vehicles (EVs) in countries such as China and India due to the increasing usage of electric bicycles and scooters. Steady hikes in fuel prices and a rise in air pollution levels are two of the major factors that are contributing to the popularization of electric vehicles. A ajority of EVs are manufactured in China and Japan, and the market in China is expected to dominate the regional market over the forecast period.
The market in Europe is expected to register the fastest rate of growth over the coming years. Developments of Battery Electric Vehicles (BEVs) and the improvement in pan-European battery charging networks for BEVs are among other major factors fueling growth in the regional market. European Union (EU) member states such as France, Denmark, Netherlands, and Ireland have implemented initiatives to restrict the sales of petrol and diesel-powered vehicles by 2030. It is factors such as these that are expected to drive demand for electric mobility in the region.
Global Electric Mobility Market Segmentation:
- Electric Scooter
- Electric Bicycle
- Electric Skateboard
- Electric Motorcycle
- Electric Car
- Electric Wheelchair
- Sealed Lead Acid
- Less than 24V
- Greater than 48V
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Vmoto Limited ABN
- Terra Motors
- Continental AG
- ALTA MOTORS
- Accell Group
- Nissan Motor Corporation
- BYD Co Ltd.
- Mahindra Electric Mobility Limited
- General Motors
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