Electric Vehicle Market - Global Forecast to 2035
商品番号 : SMB-2177
| 出版社 | MarketsandMarkets |
| 出版年月 | 2025年10月 |
| ページ数 | 486 |
| 図表数 | 525 |
| 価格タイプ | シングルユーザライセンス |
| 価格 | USD 4,950 |
| 種別 | 英文調査報告書 |
電気自動車市場 – 車両タイプ、推進力、車両コネクティビティ、コンポーネント、最終用途、EVアーキテクチャ、最高速度、駆動タイプ、ボディタイプ別のP-EV市場、構成別のH-EV市場、トポロジー別のMHEV市場、地域別 – 2035年の世界予測
プラグイン電気自動車市場は、2025年の6,986.3億米ドルから2035年には1兆1,895.9億米ドルに、CAGR 5.5%で成長すると予測されています。ハイブリッド電気自動車市場（HEV+MHEV）は、2025年の4,468.7億米ドルから2035年には6,677.5億米ドルに、CAGR 4.1%で成長すると見込まれています。
電気自動車市場は、乗用車および商用車セグメント全体にわたるバッテリー駆動のモビリティの需要の高まりに牽引され、着実な成長が見込まれています。主な要因としては、バッテリーのエネルギー密度の向上、充電能力の高速化、車両の安全性と性能の向上が挙げられます。欧州の2035年ゼロエミッション目標などの政府政策や、ドイツやノルウェーなどの国の支援規制は、中国や米国での補助金の段階的廃止にもかかわらず、普及を加速させています。充電インフラの拡張とパワートレイン効率への投資により、走行距離の延長と所有コストの削減が可能になります。 EVへの消費者の関心が高まるにつれ、OEMは改良された熱管理システムやソフトウェアによるエネルギー最適化といった先進技術の統合に注力し、車両の安全性、効率性、そしてユーザーフレンドリー性を高めています。車両設計、ソフトウェア統合、そしてエネルギー管理における継続的なイノベーションは、予測期間全体を通してEV市場の持続的な成長を支えています。
本レポートは、電気自動車市場を、車両タイプ（乗用車および商用車）、駆動方式（バッテリー電気自動車、燃料電池電気自動車、プラグインハイブリッド電気自動車、ハイブリッド電気自動車、およびマイルドハイブリッド電気自動車）、EVアーキテクチャ（400Vおよび800V）、車両最高速度（時速125マイル未満および時速125マイル超）、車両駆動方式（前輪駆動、後輪駆動、および全輪駆動）、車体タイプ（SUV/MPV、セダン、およびハッチバック）、構成タイプ（シリーズ、パラレル、およびシリーズパラレル）、トポロジー（P0、P1、P2、P3、およびP4）、車両コネクティビティ（V2G、V2H/V2B、およびV2L）、駆動方式およびコンポーネント（BEVコンポーネント、PHEVコンポーネント、FCEVコンポーネント、HEVコンポーネント、およびMHEVコンポーネント）、最終用途（自家用車および商用車）、および地域の観点から網羅しています。また、主要な電気自動車市場の競合状況と企業プロファイルも網羅しています。この調査には、主要な市場プレーヤー、その企業プロファイル、製品およびビジネス提供に関する主要な観察、最近の動向、主要な市場戦略に関する詳細な競合分析も含まれています。
レポートを購入する主なメリット
- 電気自動車市場とそのサブセグメントの収益数値の最も近い概算に関する情報を提供し、市場リーダー/新規参入企業に役立ちます。
- 関係者が競争環境を理解し、ビジネスの位置付けを改善し、適切な市場参入戦略を計画するための洞察を深めるのに役立ちます。
- 利害関係者が市場の動向を理解するのにも役立ち、主要な市場の推進要因、制約、課題、機会に関する情報も提供します。
- 関係者が電気自動車市場の現在および将来の価格動向を理解するのにも役立ちます。
- 推進力、車両タイプ、駆動タイプ、EV アーキテクチャ、ボディタイプ、地域、およびその他のパラメータに基づいて、電気自動車市場のさまざまなトレンドに関する情報を提供し、市場リーダー/新規参入者に役立ちます。
The plug-in electric vehicle market is predicted to grow from USD 698.63 billion in 2025 to USD 1,189.59 billion in 2035, at a CAGR of 5.5%. The hybrid electric vehicle market (HEV+MHEV) is set to grow from USD 446.87 billion in 2025 to USD 667.75 billion in 2035, at a CAGR of 4.1%. The electric vehicle market is set for steady growth, driven by rising demand for battery-powered mobility across passenger and commercial segments. Key factors include improvements in battery energy density, faster charging capabilities, and enhanced vehicle safety and performance. Government policies, such as Europe’s 2035 zero-emission targets and supportive regulations in countries like Germany and Norway, are accelerating adoption despite subsidies in China and the US being phased out. Expansion of charging infrastructure and investments in powertrain efficiency enable longer ranges and lower ownership costs. Consumer interest in EVs is fostering OEM focus on integrating advanced technologies such as improved thermal management systems and software-driven energy optimization, ensuring vehicles are safer, more efficient, and user-friendly. Continuous innovation in vehicle design, software integration, and energy management supports sustained growth in the EV market throughout the forecast period.
“Front-wheel drive type is expected to have the largest growth in the electric vehicle market during the forecast period.”
The front-wheel drive (FWD) segment is expected to witness the largest growth in the electric vehicle market over the forecast period, driven by its cost efficiency, practicality, and suitability for urban and high-traffic conditions. FWD systems are simpler and cheaper to produce than RWD or AWD configurations, translating into more affordable EV options for budget-conscious consumers. The lower drivetrain weight improves energy efficiency and range, while the weight distribution over the front axle provides better traction in rainy or snowy conditions, making FWD vehicles appealing in diverse climates. Leading FWD EV models such as Nissan Leaf, Hyundai Kona Electric, Toyota bZ4X, and mini EVs like GW Black Cat, GW White Cat, and GW Good Cat have demonstrated strong market acceptance due to their practicality and cost-effectiveness. Manufacturers have also leveraged FWD architectures by converting existing ICE platforms to EVs, accelerating early adoption. Recent launches, including Hyundai’s Kona Electric FWD variant in Thailand in February 2025 with a 450 km range, further reinforce the segment’s growth potential. While RWD and AWD continue to see demand in performance and premium models, FWD is expected to dominate due to affordability, efficiency, and suitability for everyday urban mobility.
“400V architecture is expected to hold the largest share in the electric vehicle market during the forecast period.”
The 400V electric architecture is expected to hold the largest share in the electric vehicle market over the forecast period, driven by its widespread adoption, cost efficiency, and compatibility with existing charging infrastructure. Most early and mid-range EVs utilize 400V systems due to their balance of performance, moderate charging speeds, and lower production costs compared with higher-voltage architectures. The voltage in these systems ranges between 300V and 500V, depending on factors such as state of charge, temperature, and battery age, offering flexibility while maintaining efficiency. Leading global EV models powered by 400V architecture include Hyundai Kona Electric, Kia Niro EV, Volkswagen ID.4, BMW i4, Mercedes EQE, Kia EV6, Tesla Model 3, and mass-market launches such as Tata Motors’ planned 400V EVs on its acti.ev platform. Another example is the Kia EV4, unveiled at Kia’s 2025 EV Day, built on the 400V E-GMP platform with battery options offering up to 630 km range and fast 400V charging capabilities. Nissan launched the new LEAF based on a 400V architecture in September 2025. The mature supply chain, high-volume component availability, and lower purchase prices make 400V systems attractive for both OEMs and consumers. While 800V architectures are emerging for high-performance, fast-charging EVs, the combination of cost advantages, established production processes, and broad compatibility ensures that 400V systems will continue to dominate the EV market during the forecast period.
“Europe set to witness a significant growth in the electric vehicle market during the forecast period.”
Europe is set to witness notable growth in the electric vehicle market over the forecast period, driven by regulatory mandates, strong OEM commitments, and expanding consumer adoption. Policies such as the EU 2035 zero-emission target for new cars and vans, coupled with stricter CO2 reduction standards for 2030, are accelerating the shift toward fully electric passenger cars and plug-in hybrids. Leading European automakers, including Volkswagen, BMW, Mercedes-Benz, Volvo, and Stellantis, are investing heavily in EV production, software integration, and dedicated charging infrastructure, while introducing models like the VW ID.4, BMW iX, and Mercedes EQC to meet rising consumer demand. The growing adoption of plug-in hybrids supports continued demand for dual powertrain systems, while battery electric vehicles are driving expansion in high-capacity battery packs, thermal management systems, and inverter cooling solutions. In the first half of 2025, BEV registrations in Europe surged 34% year-over-year, reaching 15.6% of market share, with PHEVs accounting for 8.4% of sales. Germany, Belgium, and the Netherlands led this growth, supported by increased charging infrastructure and consumer incentives. At the IAA Mobility auto show in Munich, Chinese luxury automaker Hongqi unveiled the EHS5, a compact electric SUV with a 550 km range and fast charging capability (10% to 80% in 20 minutes), targeting urban and suburban drivers. Europe’s strong automotive manufacturing base, combined with investments in localized component production and charging networks, is ensuring supply chain resilience and competitiveness. Regulatory pressure, OEM electrification roadmaps, hybrid adoption, and consumer demand are positioning Europe for sustained growth in the electric vehicle market.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
- By Company Type: Tier I – 42%, Tier II – 35%, and Tier III – 23%
- By Designation: Directors – 36%, Managers – 43%, and Others – 21%
- By Region: Asia Pacific – 17%, Southeast Asia – 11%, Europe – 28%, North America – 31%, Latin America – 8%, Middle East – 3%, and Africa – 2%
The electric vehicle market is dominated by major players, including BYD Company Ltd. (China), Tesla (US), Zhejiang Geely Holding Group (China), Volkswagen Group (Germany), and General Motors (US). These companies are expanding their portfolios to strengthen their electric vehicle market position.
Research Coverage
The report covers the electric vehicle market in terms of vehicle type (passenger cars and commercial vehicles), propulsion (battery electric vehicle, fuel cell electric vehicle, plug-in hybrid electric vehicle, hybrid electric vehicle, and mild hybrid electric vehicle), by EV architecture (400V and 800V), vehicle top speed (<125 mph and >125 mph), vehicle drive type (front-wheel drive, rear-wheel drive, and all wheel drive), vehicle body type (SUV/MPV, sedan, and hatchback), configuration type (series, parallel, and series-parallel), topology (P0, P1, P2, P3, and P4), vehicle connectivity (V2G, V2H/V2B, and V2L), propulsion & component (BEV components, PHEV components, FCEV components, HEV components, and MHEV components), end use (private and commercial fleets), and region. It covers the competitive landscape and company profiles of the significant electric vehicle market players.
The study also includes an in-depth competitive analysis of the key market players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
- The report will help market leaders/new entrants with information on the closest approximations of revenue numbers for the electric vehicle market and its subsegments.
- This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
- The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
- The report also helps stakeholders understand the current and future pricing trends of the electric vehicle market.
- The report will help market leaders/new entrants with information on various trends in the electric vehicle market based on propulsion, vehicle type, drive type, EV architecture, body type, region, and other parameters.
The report provides insight into the following pointers:
- Analysis of key drivers (policy support for EV adoption, Reduced operating and maintenance costs, Next generation battery innovations, zero tailpipe and vehicle lifecycle emissions, declining costs of EV batteries), restraints (high initial purchase price, capital-intensive charging infrastructure deployment, battery durability and lifecycle management, geopolitical instability and supply chain disruptions), opportunities (accelerated investment in charging infrastructure, innovation in wireless and on-the-move charging, fleet electrification and commercial deployment, expansion of Charging-as-a-Service (CaaS) business model, integration of bidirectional charging and smart parking), and challenges (extended charging duration constraints, fragmented charging standards and infrastructure)
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the electric vehicle market
- Market Development: Comprehensive information about lucrative markets – the report analyses the electric vehicle market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the electric vehicle market
- Competitive Assessment: In-depth assessment of market share, growth strategies, and service offerings of leading players like BYD Company Ltd. (China), Tesla (US), Zhejiang Geely Holding Group (China), Volkswagen Group (Germany), and General Motors (US), among others, in the electric vehicle market.
Table of Contents
1 INTRODUCTION 35
1.1 STUDY OBJECTIVES 35
1.2 MARKET DEFINITION 36
1.3 STUDY SCOPE 42
1.3.1 MARKETS COVERED AND REGIONAL SCOPE 42
1.3.2 INCLUSIONS AND EXCLUSIONS 43
1.3.3 YEARS CONSIDERED 44
1.4 CURRENCY CONSIDERED 44
1.5 UNIT CONSIDERED 45
1.6 STAKEHOLDERS 45
1.7 SUMMARY OF CHANGES 45
2 RESEARCH METHODOLOGY 46
2.1 RESEARCH DATA 46
2.1.1 SECONDARY DATA 47
2.1.1.1 Secondary sources 48
2.1.1.2 Key data from secondary sources 49
2.1.2 PRIMARY DATA 49
2.1.2.1 Primary participants 50
2.1.2.2 Primary interviews from demand and supply sides 50
2.1.2.3 Breakdown of primary interviews 51
2.2 MARKET SIZE ESTIMATION 52
2.2.1 BOTTOM-UP APPROACH 54
2.2.2 TOP-DOWN APPROACH 55
2.3 DATA TRIANGULATION 56
2.4 FACTOR ANALYSIS 58
2.5 RESEARCH ASSUMPTIONS 59
2.6 RESEARCH LIMITATIONS 60
2.7 RISK ASSESSMENT 61
3 EXECUTIVE SUMMARY 62
4 PREMIUM INSIGHTS 65
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN PLUG-IN ELECTRIC VEHICLE MARKET 65
4.2 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE 65
4.3 ELECTRIC VEHICLE MARKET, BY PROPULSION 66
4.4 PLUG-IN ELECTRIC VEHICLE MARKET, BY TOP SPEED 66
4.5 PLUG-IN ELECTRIC VEHICLE MARKET, BY DRIVE TYPE 67
4.6 PLUG-IN ELECTRIC VEHICLE MARKET, BY ELECTRIC ARCHITECTURE 67
4.7 PLUG-IN ELECTRIC VEHICLE MARKET, BY VEHICLE BODY TYPE 68
4.8 HYBRID ELECTRIC VEHICLE MARKET, BY CONFIGURATION TYPE 68
4.9 PLUG-IN ELECTRIC VEHICLE MARKET, BY REGION 69
5 MARKET OVERVIEW 70
5.1 INTRODUCTION 70
5.2 MARKET DYNAMICS 71
5.2.1 DRIVERS 71
5.2.1.1 Policy support for electric vehicle adoption 71
5.2.1.2 Reduced operating and maintenance costs 73
5.2.1.3 Next-generation battery innovations 74
5.2.1.4 Zero tailpipe and vehicle lifecycle emissions 76
5.2.1.5 Declining costs of EV batteries 77
5.2.2 RESTRAINTS 78
5.2.2.1 High initial purchase price 78
5.2.2.2 Capital-intensive charging infrastructure deployment 80
5.2.2.3 Battery durability and lifecycle management 81
5.2.2.4 Geopolitical instability and supply chain disruptions 82
5.2.3 OPPORTUNITIES 85
5.2.3.1 Accelerated investment in charging infrastructure 85
5.2.3.2 Innovation in wireless and on-the-move charging 86
5.2.3.3 Fleet electrification and commercial deployment 87
5.2.3.4 Expansion of Charging-as-a-Service (CaaS) business model 88
5.2.3.5 Integration of bidirectional charging and smart parking 88
5.2.4 CHALLENGES 88
5.2.4.1 Extended charging duration constraints 88
5.2.4.2 Fragmented charging standards and infrastructure 90
6 INDUSTRY TRENDS 92
6.1 REGULATORY LANDSCAPE 92
6.1.1 REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 92
6.1.2 ELECTRIC VEHICLE INCENTIVES, BY KEY COUNTRIES 95
6.1.2.1 Netherlands 95
6.1.2.2 Germany 96
6.1.2.3 France 97
6.1.2.4 UK 98
6.1.2.5 China 99
6.1.2.6 US 100
6.1.2.7 Austria 101
6.1.3 INDUSTRY STANDARDS 101
6.2 SUSTAINABILITY INITIATIVES 102
6.2.1 CARBON IMPACT AND ECO-APPLICATIONS OF ELECTRIC VEHICLES 102
6.2.1.1 Carbon impact reduction 102
6.3 CERTIFICATIONS, LABELING, AND ECO-STANDARDS 103
6.4 TECHNOLOGY ANALYSIS 104
6.4.1 KEY EMERGING TECHNOLOGIES 104
6.4.1.1 Introduction 104
6.4.1.2 SiC/GaN for power electronics 104
6.4.1.3 Sodium-ion batteries 105
6.4.1.4 E-axles and integrated drive units 106
6.4.1.5 V2X charging 107
6.4.1.6 V2L 108
6.4.1.7 Solid-state batteries 109
6.4.2 COMPLEMENTARY TECHNOLOGIES 110
6.4.2.1 Battery recycling and 2nd life batteries 110
6.4.2.2 Internet of Things in electric vehicles 111
6.4.2.3 Lightweight materials for electric vehicles 112
6.4.3 ADJACENT TECHNOLOGIES 113
6.4.3.1 Smart grids and microgrids 113
6.4.3.2 Energy storage systems (ESS) for grid balancing 113
6.5 TECHNOLOGY/PRODUCT ROADMAP 114
6.6 PATENT ANALYSIS 114
6.6.1 INTRODUCTION 114
6.6.2 METHODOLOGY 115
6.6.3 DOCUMENT TYPE 115
6.6.4 INSIGHTS 116
6.6.5 LEGAL STATUS OF PATENTS 116
6.6.6 JURISDICTION ANALYSIS 117
6.6.7 TOP APPLICANTS 117
6.6.8 LIST OF PATENTS 118
6.7 FUTURE APPLICATIONS 125
6.8 IMPACT OF AI/GEN AI ON ELECTRIC VEHICLE MARKET 126
6.8.1 TOP IN-VEHICLE USE CASES AND MARKET POTENTIAL 126
6.8.2 TOP MANUFACTURING USE CASES AND MARKET POTENTIAL 126
6.8.3 BEST PRACTICES IN ELECTRIC VEHICLE DEVELOPMENT 127
6.8.4 CASE STUDIES OF AI IMPLEMENTATION IN ELECTRIC VEHICLE MARKET 127
6.8.5 INTERCONNECTED ADJACENT ECOSYSTEM AND IMPACT ON MARKET PLAYERS 127
6.8.6 CLIENTS’ READINESS TO ADOPT GENERATIVE AI IN ELECTRIC VEHICLE MARKET 128
6.9 SUCCESS STORIES AND REAL-WORLD APPLICATIONS 128
6.9.1 RIVIAN: AI FOR PREDICTIVE MAINTENANCE 128
6.9.2 BMW GROUP: GEN AI IN PURCHASING AND DIGITAL EXPERIENCE 128
6.9.3 VOLKSWAGEN GROUP: GEN AI AND CONNECTED VEHICLE ECOSYSTEMS 129
6.10 DECISION-MAKING PROCESS FOR INVESTMENT IN EV MARKET 129
6.11 KEY STAKEHOLDERS IN BUYING CRITERIA 130
6.11.1 KEY STAKEHOLDERS IN BUYING PROCESS 130
6.11.2 BUYING CRITERIA 131
6.12 ADOPTION BARRIERS & INTERNAL CHALLENGES 132
6.13 ECOSYSTEM ANALYSIS 133
6.13.1 ELECTRIC VEHICLE CHARGING PROVIDERS 133
6.13.2 ENERGY UTILITY COMPANIES 134
6.13.3 SOFTWARE PROVIDERS 134
6.13.4 BATTERY MANUFACTURERS 134
6.13.5 COMPONENT MANUFACTURERS 134
6.13.6 OEMS 134
6.13.7 END USERS 134
6.13.7.1 Mobility service providers 134
6.13.7.2 EV fleet operators 135
6.14 SUPPLY CHAIN ANALYSIS 136
6.15 PRICING ANALYSIS 138
6.15.1 INDICATIVE SELLING PRICE, BY KEY BATTERY ELECTRIC VEHICLE
MODELS, 2024 138
6.15.2 AVERAGE SELLING PRICE TREND OF ELECTRIC PROPULSION, 2022–2024 139
6.15.3 AVERAGE SELLING PRICE TREND, BY REGION, 2022–2024 140
6.16 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 141
6.17 INVESTMENT AND FUNDING SCENARIO 142
6.18 FUNDING BY USE CASE APPLICATION 143
6.19 KEY CONFERENCES AND EVENTS, 2025–2026 144
6.20 TRADE ANALYSIS 145
6.20.1 IMPORT SCENARIO (HS CODE 870380) 145
6.20.2 EXPORT SCENARIO (HS CODE 870380) 146
6.21 CASE STUDY ANALYSIS 147
6.21.1 ELECTRIC VEHICLE FLEETS FOR PUBLIC SECTOR IN VERMONT, US 147
6.21.2 FRITO-LAY LOGISTICS FLEET ELECTRIFICATION 147
6.21.3 NAIROBI’S ELECTRIC TAXI FLEET 148
6.21.4 NOPIARIDE DC FAST CHARGING HUBS IN KENYA 148
6.22 EXISTING AND UPCOMING ELECTRIC VEHICLE MODELS, 2024–2026 149
6.23 TOTAL COST OF OWNERSHIP 150
6.24 BILL OF MATERIALS ANALYSIS 151
6.25 OEM ELECTROMOBILITY PROGRESS 152
6.25.1 OEM TARGETS AND INVESTMENTS 153
6.25.2 REGIONAL PLUG-IN ELECTRIC VEHICLE OEM ANALYSIS 154
6.25.2.1 Asia Pacific 154
6.25.2.2 Southeast Asia 155
6.25.2.3 Europe 157
6.25.2.4 Latin America 159
6.25.2.5 North America 161
7 ELECTRIC VEHICLE MARKET, BY PROPULSION 163
7.1 INTRODUCTION 164
7.2 BEST-SELLING ELECTRIC VEHICLE MODELS, 2024 166
7.3 BATTERY ELECTRIC VEHICLE (BEV) 167
7.3.1 SHIFT TO ZERO TAILPIPE EMISSION TRANSPORT & GOVERNMENT SUPPORT TO DRIVE MARKET 167
7.4 FUEL CELL ELECTRIC VEHICLE (FCEV) 170
7.4.1 OEM PLANS TO REDUCE INVESTMENTS TO H2 VEHICLES AND RECENT H2 REFUELING STATION SHUTDOWNS TO REDUCE DEMAND 170
7.5 PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV) 172
7.5.1 REDUCED FUEL CONSUMPTION AND EMISSIONS TO DRIVE MARKET 172
7.6 HYBRID ELECTRIC VEHICLE (HEV) 174
7.6.1 INCREASED VEHICLE MILEAGE WITH DUAL PROPULSION TO DRIVE MARKET 174
7.7 MILD HYBRID ELECTRIC VEHICLE (MHEV) 176
7.7.1 LOW-COST ELECTRIFICATION OPTION TO DRIVE MARKET 176
7.8 PRIMARY INSIGHTS 178
8 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE 179
8.1 INTRODUCTION 180
8.2 BEST-SELLING ELECTRIC PASSENGER CARS, 2024 182
8.3 PASSENGER CAR 184
8.3.1 SUPPORTIVE GOVERNMENT REGULATIONS AND SUBSIDIES TO DRIVE MARKET 184
8.4 COMMERCIAL VEHICLE 186
8.4.1 GROWING FLEET ELECTRIFICATION TO DRIVE MARKET 186
8.5 KEY PRIMARY INSIGHTS 188
9 ELECTRIC VEHICLE MARKET, BY COMPONENT 189
9.1 INTRODUCTION 189
9.2 BATTERY CELLS AND PACKS 189
9.3 ON-BOARD CHARGERS 191
9.4 MOTORS 192
9.5 POWER CONTROL UNITS 196
9.6 BATTERY MANAGEMENT SYSTEMS 199
9.7 FUEL CELL STACKS 200
9.8 FUEL PROCESSORS 200
9.9 POWER CONDITIONERS 201
9.10 AIR COMPRESSORS 201
9.11 HUMIDIFIERS 201
10 ELECTRIC VEHICLE MARKET, BY END USE 202
10.1 INTRODUCTION 202
10.2 OPERATIONAL DATA 202
10.3 PRIVATE 203
10.4 COMMERCIAL FLEET 204
11 ELECTRIC VEHICLE MARKET, BY VEHICLE CONNECTIVITY 205
11.1 INTRODUCTION 205
11.2 VEHICLE-TO-BUILDING (V2B)/VEHICLE TO INFRASTRUCTURE (V2I) 207
11.3 VEHICLE-TO-GRID (V2G) 207
11.4 VEHICLE-TO-VEHICLE (V2V) 208
12 HYBRID ELECTRIC VEHICLE MARKET, BY CONFIGURATION TYPE 209
12.1 INTRODUCTION 210
12.2 SERIES 212
12.2.1 RISING DEMAND FOR LOW-EMISSION URBAN TRANSPORT AND DELIVERY FLEETS TO DRIVE MARKET 212
12.3 PARALLEL 213
12.3.1 LOWER PRODUCTION COSTS AND HIGH EFFICIENCY DURING HIGHWAY CRUISING TO DRIVE MARKET 213
12.4 SERIES-PARALLEL 215
12.4.1 FLEXIBLE OPERATION THAT SWITCHES POWER MODES TO OPTIMIZE FUEL SAVINGS AND PERFORMANCE TO DRIVE MARKET 215
12.5 PRIMARY INSIGHTS 216
13 MILD HYBRID ELECTRIC VEHICLE MARKET, BY TOPOLOGY 217
13.1 INTRODUCTION 217
13.2 P0–BELT INTEGRATION 219
13.3 P1 – BETWEEN ENGINE AND TRANSMISSION 219
13.4 P2 – TRANSMISSION-SIDE INTEGRATION (BELT-CONNECTED) 219
13.5 P3 – TRANSMISSION-SIDE INTEGRATION (SHAFT-CONNECTED) 220
13.6 P4 – REAR AXLE INTEGRATION 220
14 PLUG-IN ELECTRIC VEHICLE MARKET, BY ELECTRIC ARCHITECTURE 221
14.1 INTRODUCTION 222
14.2 VEHICLE MODELS, BY ELECTRIC ARCHITECTURE 224
14.3 400V 224
14.3.1 COST-EFFECTIVENESS OF 400V ARCHITECTURE TO DRIVE MARKET 224
14.4 800V 225
14.4.1 RISING DEMAND FOR 350+ KW RAPID CHARGING TO DRIVE MARKET IN LUXURY ELECTRIC VEHICLE SEGMENT 225
14.5 PRIMARY INSIGHTS 228
15 PLUG-IN ELECTRIC VEHICLE MARKET, BY VEHICLE BODY TYPE 229
15.1 INTRODUCTION 230
15.2 SUV/MPV 231
15.2.1 CONSUMER DEMAND FOR SPACIOUS, VERSATILE VEHICLES WITH LARGE CARGO AREA TO DRIVE MARKET 231
15.3 SEDAN 233
15.3.1 BALANCE OF EFFICIENCY, COMFORT, AND PERFORMANCE FOR URBAN AND LONG-DISTANCE COMMUTING TO DRIVE DEMAND 233
15.4 HATCHBACK 234
15.4.1 AFFORDABILITY, COMPACT SIZE, AND HIGH ENERGY EFFICIENCY TO DRIVE MARKET 234
15.5 PRIMARY INSIGHTS 235
16 PLUG-IN ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE 236
16.1 INTRODUCTION 237
16.2 POPULAR ELECTRIC VEHICLE MODELS, BY DRIVE TYPE 239
16.3 FRONT-WHEEL DRIVE (FWD) 239
16.3.1 LOWER PRODUCTION AND MAINTENANCE COSTS TO DRIVE MARKET 239
16.4 REAR-WHEEL DRIVE (RWD) 241
16.4.1 ENHANCED WEIGHT DISTRIBUTION IMPROVES VEHICLE BALANCE, ATTRACTING PERFORMANCE-FOCUSED CONSUMERS 241
16.5 ALL WHEEL DRIVE (AWD) 242
16.5.1 MULTI-MOTOR CONFIGURATIONS ENABLING RAPID ACCELERATION
AND HIGH-SPEED CAPABILITIES TO DRIVE MARKET 242
16.6 PRIMARY INSIGHTS 243
17 PLUG-IN ELECTRIC VEHICLE MARKET, BY VEHICLE TOP SPEED 244
17.1 INTRODUCTION 245
17.2 ACCELERATION AND TOP SPEED BENCHMARKING OF KEY EV MODELS 246
17.3 <110 MPH 247
17.3.1 URBAN COMMUTING AND INCREASED USE OF ELECTRIC VEHICLES IN DELIVERY FLEETS TO DRIVE MARKET 247
17.4 >110 MPH 248
17.4.1 RISING DEMAND FOR LUXURY AND HIGH-PERFORMANCE ELECTRIC VEHICLES TO DRIVE MARKET 248
17.5 PRIMARY INSIGHTS 249
18 ELECTRIC VEHICLE MARKET, BY REGION 250
18.1 INTRODUCTION 251
18.2 ASIA PACIFIC 255
18.2.1 MACROECONOMIC OUTLOOK 257
18.2.2 CHINA 260
18.2.2.1 Dominant domestic EV supply chain to drive market 260
18.2.3 INDIA 262
18.2.3.1 Domestic OEM push for EV innovation and localized manufacturing to drive market 262
18.2.4 JAPAN 264
18.2.4.1 Growing preference for dual-propulsion vehicles to drive market 264
18.2.5 SOUTH KOREA 265
18.2.5.1 Government incentives and OEM EV targets to drive market 265
18.3 SOUTHEAST ASIA 266
18.3.1 MACROECONOMIC OUTLOOK 268
18.3.2 THAILAND 270
18.3.2.1 Government plans for 30% EVs by 2030 and growing presence of Chinese budget EVs to drive market 270
18.3.3 INDONESIA 272
18.3.3.1 Government support for domestic EV manufacturing to drive demand 272
18.3.4 MALAYSIA 273
18.3.4.1 National Green Technology Policy to drive market 273
18.3.5 VIETNAM 274
18.3.5.1 Strong government support and growing demand for Vinfast to drive market 274
18.3.6 SINGAPORE 276
18.3.6.1 Surge in electric fleets to drive market 276
18.3.7 PHILIPPINES 277
18.3.7.1 Urbanization and financing trends to drive market 277
18.3.8 AUSTRALIA 278
18.3.8.1 Government support and setting of charging stations to drive demand 278
18.4 NORTH AMERICA 279
18.4.1 MACROECONOMIC OUTLOOK 281
18.4.2 US 284
18.4.2.1 Support for local manufacturing of EVs to drive market 284
18.4.3 CANADA 285
18.4.3.1 Government support for clean transportation and zero tailpipe emissions to drive market 285
18.4.4 MEXICO 287
18.4.4.1 Growing setup of Chinese EVs to drive market 287
18.5 EUROPE 288
18.5.1 MACROECONOMIC OUTLOOK 290
18.5.2 GERMANY 294
18.5.2.1 Strong domestic OEM investment in vehicle electrification
to drive market 294
18.5.3 FRANCE 296
18.5.3.1 Government subsidies and strong domestic OEM EV offerings to drive market 296
18.5.4 NETHERLANDS 297
18.5.4.1 Government incentives and presence of dense supporting infrastructure to drive market 297
18.5.5 NORWAY 298
18.5.5.1 High rate of EV adoption and government policy leadership to drive market 298
18.5.6 SWEDEN 299
18.5.6.1 Strong government focus for sustainability, tax benefits, and business incentives to drive market 299
18.5.7 UK 301
18.5.7.1 ZEV mandates and growing rate of fleet electrification to drive market 301
18.5.8 DENMARK 302
18.5.8.1 Tax breaks on EV registrations and substantial investments in public and private charging infrastructure to drive market 302
18.5.9 AUSTRIA 304
18.5.9.1 Significant private investment in charging infrastructure and strong government subsidies to drive market 304
18.5.10 SWITZERLAND 305
18.5.10.1 High environmental awareness and expanding government incentives to drive market 305
18.5.11 SPAIN 306
18.5.11.1 Government incentives and strong infrastructure investments to drive market 306
18.5.12 RUSSIA 307
18.5.12.1 Chinese OEM influx to drive market 307
18.5.13 ITALY 308
18.5.13.1 Government support through incentives and presence of diverse plug-in and hybrid electric vehicle models to drive market 308
18.6 MIDDLE EAST 310
18.6.1 MACROECONOMIC OUTLOOK 311
18.6.2 UAE 313
18.6.2.1 Policy incentives and growing EV support infrastructure to drive market 313
18.6.3 SAUDI ARABIA 314
18.6.3.1 Government targets and support for localized manufacturing to drive market 314
18.6.4 ISRAEL 316
18.6.4.1 Strong incentives and rapid new-tech adoption to drive market 316
18.7 LATIN AMERICA 317
18.7.1 MACROECONOMIC OUTLOOK 318
18.7.2 BRAZIL 321
18.7.2.1 Government support for Chinese EV manufacturer setup to drive market 321
18.7.3 COLOMBIA 322
18.7.3.1 Increased focus on fleet electrification to drive demand 322
18.7.4 CHILE 323
18.7.4.1 Government support for infrastructure development to drive market 323
18.7.5 URUGUAY 324
18.7.5.1 Aggressive subsidies and supportive policies to drive market 324
18.7.6 COSTA RICA 326
18.7.6.1 Government support for EV adoption to drive market 326
18.8 AFRICA 327
18.8.1 MACROECONOMIC OUTLOOK 328
18.8.2 MOROCCO 330
18.8.2.1 Strong tax breaks and focus on domestic EV manufacturing
to drive market 330
18.8.3 EGYPT 331
18.8.3.1 Rising urbanization and increase in localized EV assembly
to drive market 331
18.8.4 SOUTH AFRICA 333
18.8.4.1 Government incentives and domestic automotive sector transition
to drive market 333
19 COMPETITIVE LANDSCAPE 335
19.1 INTRODUCTION 335
19.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, JANUARY 2021–JULY 2025 335
19.3 MARKET SHARE ANALYSIS, 2024 337
19.3.1 PLUG-IN ELECTRIC VEHICLE MARKET SHARE ANALYSIS, 2024 337
19.3.2 HYBRID ELECTRIC AND MILD HYBRID VEHICLE MARKET SHARE
ANALYSIS, 2024 339
19.3.3 REGIONAL-LEVEL ELECTRIC VEHICLE MARKET SHARE ANALYSIS 340
19.3.3.1 Asia Pacific 340
19.3.3.2 Southeast Asia 340
19.3.3.3 Europe 341
19.3.3.4 North America 342
19.3.3.5 Latin America 342
19.4 REVENUE ANALYSIS, 2020–2024 343
19.5 COMPANY VALUATION AND FINANCIAL METRICS 344
19.6 BRAND/PRODUCT COMPARISON 345
19.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024 346
19.7.1 STARS 346
19.7.2 EMERGING LEADERS 346
19.7.3 PERVASIVE PLAYERS 346
19.7.4 PARTICIPANTS 346
19.7.5 COMPANY FOOTPRINT 348
19.7.5.1 Company footprint 348
19.7.5.2 Region footprint 349
19.7.5.3 Top speed footprint 350
19.7.5.4 Vehicle drive type footprint 351
19.7.5.5 Propulsion footprint 352
19.7.5.6 Vehicle body type footprint 353
19.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024 354
19.8.1 PROGRESSIVE COMPANIES 354
19.8.2 RESPONSIVE COMPANIES 354
19.8.3 DYNAMIC COMPANIES 354
19.8.4 STARTING BLOCKS 354
19.8.5 COMPETITIVE BENCHMARKING 356
19.8.5.1 List of startups/SMEs 356
19.8.5.2 Competitive benchmarking of startups/SMEs 356
19.9 COMPETITIVE SCENARIO 357
19.9.1 PRODUCT LAUNCHES 357
19.9.2 DEALS 358
19.9.3 EXPANSIONS 359
19.9.4 OTHER DEVELOPMENTS 361
20 COMPANY PROFILES 362
20.1 KEY PLAYERS 362
20.1.1 BYD COMPANY LTD. 362
20.1.1.1 Business overview 362
20.1.1.2 Products/Solutions offered 364
20.1.1.3 Recent developments 365
20.1.1.3.1 Product launches/developments 365
20.1.1.3.2 Deals 367
20.1.1.3.3 Expansions 370
20.1.1.3.4 Other developments 371
20.1.1.4 MnM view 372
20.1.1.4.1 Right to win 372
20.1.1.4.2 Strategic choices 372
20.1.1.4.3 Weaknesses and competitive threats 372
20.1.2 TESLA 373
20.1.2.1 Business overview 373
20.1.2.2 Products/Solutions offered 375
20.1.2.3 Recent developments 375
20.1.2.3.1 Product launches/developments/upgrades 375
20.1.2.3.2 Deals 376
20.1.2.3.3 Expansions 376
20.1.2.3.4 Other developments 377
20.1.2.4 MnM view 378
20.1.2.4.1 Right to win 378
20.1.2.4.2 Strategic choices 378
20.1.2.4.3 Weaknesses and competitive threats 378
20.1.3 ZHEJIANG GEELY HOLDING GROUP 379
20.1.3.1 Business overview 379
20.1.3.2 Products/Solutions offered 382
20.1.3.3 Recent developments 383
20.1.3.3.1 Product launches/developments 383
20.1.3.3.2 Deals 386
20.1.3.3.3 Expansions 388
20.1.3.3.4 Other developments 389
20.1.3.4 MnM view 390
20.1.3.4.1 Right to win 390
20.1.3.4.2 Strategic choices 390
20.1.3.4.3 Weaknesses and competitive threats 390
20.1.4 VOLKSWAGEN GROUP 391
20.1.4.1 Business overview 391
20.1.4.2 Products/Solutions offered 394
20.1.4.3 Recent developments 396
20.1.4.3.1 Product launches/developments 396
20.1.4.3.2 Deals 398
20.1.4.3.3 Expansions 400
20.1.4.3.4 Other developments 401
20.1.4.4 MnM view 402
20.1.4.4.1 Right to win 402
20.1.4.4.2 Strategic choices 402
20.1.4.4.3 Weaknesses and competitive threats 402
20.1.5 GENERAL MOTORS 403
20.1.5.1 Business overview 403
20.1.5.2 Products/Solutions offered 405
20.1.5.3 Recent developments 406
20.1.5.3.1 Product launches 406
20.1.5.3.2 Deals 406
20.1.5.3.3 Expansions 407
20.1.5.3.4 Other developments 407
20.1.5.4 MnM view 408
20.1.5.4.1 Right to win 408
20.1.5.4.2 Strategic choices 408
20.1.5.4.3 Weaknesses and competitive threats 408
20.1.6 CHANGAN 409
20.1.6.1 Business overview 409
20.1.6.2 Products/Solutions offered 411
20.1.6.3 Recent developments 412
20.1.6.3.1 Product launches 412
20.1.6.3.2 Deals 412
20.1.6.3.3 Expansions 412
20.1.7 BMW GROUP 413
20.1.7.1 Business overview 413
20.1.7.2 Products/Solutions offered 415
20.1.7.3 Recent developments 416
20.1.7.3.1 Product launches/upgrades 416
20.1.7.3.2 Expansions 418
20.1.7.3.3 Other developments 418
20.1.8 LI AUTO INC. 419
20.1.8.1 Business overview 419
20.1.8.2 Products/Solutions offered 420
20.1.8.3 Recent developments 420
20.1.8.3.1 Product launches 420
20.1.8.3.2 Deals 420
20.1.9 HYUNDAI MOTOR GROUP 421
20.1.9.1 Business overview 421
20.1.9.2 Products/Solutions offered 423
20.1.9.3 Recent developments 423
20.1.9.3.1 Product launches 423
20.1.9.3.2 Deals 425
20.1.9.3.3 Expansions 426
20.1.9.3.4 Other developments 427
20.1.10 GAC GROUP 428
20.1.10.1 Business overview 428
20.1.10.2 Products/Solutions offered 429
20.1.10.3 Recent developments 429
20.1.10.3.1 Product launches/developments 429
20.1.10.3.2 Deals 431
20.1.10.3.3 Expansions 433
20.1.10.3.4 Other developments 434
20.1.11 STELLANTIS NV 435
20.1.11.1 Business overview 435
20.1.11.2 Products/Solutions offered 437
20.1.11.3 Recent developments 438
20.1.11.3.1 Product launches/developments 438
20.1.11.3.2 Deals 441
20.1.11.3.3 Expansions 446
20.1.11.3.4 Other developments 447
20.1.12 GREAT WALL MOTOR 448
20.1.12.1 Business overview 448
20.1.12.2 Products/Solutions offered 450
20.1.12.3 Recent developments 451
20.1.12.3.1 Product launches/developments 451
20.1.12.3.2 Deals 452
20.1.12.3.3 Expansions 453
20.1.12.3.4 Other developments 454
20.2 OTHER KEY PLAYERS 455
20.2.1 TOYOTA MOTOR CORPORATION 455
20.2.2 RENAULT-NISSAN-MITSUBISHI 456
20.2.3 HONDA MOTOR CO., LTD. 457
20.2.4 MERCEDES-BENZ GROUP AG 458
20.2.5 FORD MOTOR COMPANY 459
20.2.6 CHERY 460
20.2.7 LEAPMOTOR INTERNATIONAL B.V. 461
20.2.8 SAIC MOTOR CORPORATION LIMITED 462
20.2.9 NIO 463
20.2.10 XIAOMI 464
20.2.11 RIVIAN 465
20.2.12 LUCID 466
20.2.13 DONGFENG MOTOR CORPORATION 467
20.2.14 FAW TRUCKS CO., LTD. 468
20.2.15 XPENG INC. 469
20.2.16 KG MOBILITY CORP. 470
20.2.17 NETA 471
20.2.18 MAZDA MOTOR CORPORATION 472
20.2.19 SUBARU CORPORATION 473
20.2.20 BAIC GROUP CO., LTD. 474
20.2.21 TATA MOTORS LIMITED 475
20.2.22 XIAOMI AUTO 476
21 RECOMMENDATIONS BY MARKETSANDMARKETS 477
21.1 SOUTHEAST ASIA TO OFFER LUCRATIVE OPPORTUNITIES 477
21.2 BATTERY ELECTRIC VEHICLES TO HOLD DOMINANT MARKET SHARE 477
21.3 800V ELECTRIC ARCHITECTURE TO ACCELERATE ADOPTION 477
21.4 EMERGING BUSINESS MODELS: BATTERY-AS-A-SERVICE AND
CHARGING-AS-A-SERVICE 478
21.5 CONCLUSION 478
22 APPENDIX 479
22.1 DISCUSSION GUIDE 479
22.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 482
22.3 CUSTOMIZATION OPTIONS 484
22.3.1 ELECTRIC VEHICLE MARKET, BY BODY TYPE AT COUNTRY LEVEL
(FOR COUNTRIES COVERED IN REPORT) 484
22.3.2 PROFILING OF ADDITIONAL MARKET PLAYERS (UP TO 5) 484
22.3.3 PROFILING OF ADDITIONAL COUNTRIES (UP TO 3) 484
22.4 RELATED REPORTS 484
22.5 AUTHOR DETAILS 485
LIST OF TABLES
TABLE 1 ELECTRIC VEHICLE MARKET DEFINITION, BY PROPULSION 36
TABLE 2 ELECTRIC VEHICLE MARKET DEFINITION, BY VEHICLE TYPE 37
TABLE 3 PLUG-IN ELECTRIC VEHICLE MARKET DEFINITION, BY VEHICLE DRIVE TYPE 37
TABLE 4 PLUG-IN ELECTRIC VEHICLE MARKET DEFINITION, BY VEHICLE TOP SPEED 38
TABLE 5 ELECTRIC VEHICLE MARKET DEFINITION, BY VEHICLE CONNECTIVITY 38
TABLE 6 ELECTRIC VEHICLE MARKET DEFINITION, BY COMPONENT 39
TABLE 7 PLUG-IN ELECTRIC VEHICLE MARKET DEFINITION, BY BODY TYPE 39
TABLE 8 ELECTRIC VEHICLE MARKET DEFINITION, BY END USE 40
TABLE 9 PLUG-IN ELECTRIC VEHICLE MARKET DEFINITION, BY ELECTRIC ARCHITECTURE 40
TABLE 10 HYBRID ELECTRIC VEHICLE MARKET DEFINITION, BY CONFIGURATION TYPE 40
TABLE 11 MILD HYBRID ELECTRIC VEHICLE MARKET DEFINITION, BY TOPOLOGY 41
TABLE 12 ELECTRIC VEHICLE MARKET: INCLUSIONS AND EXCLUSIONS 43
TABLE 13 CURRENCY EXCHANGE RATES, 2019–2024 44
TABLE 14 COMPARISON TABLE OF CHARGING COSTS, BY COUNTRY 73
TABLE 15 INNOVATION IN BATTERIES BY KEY MANUFACTURERS 74
TABLE 16 NUMBER OF CHARGE POINT OPERATORS FOR ELECTRIC CARS, BY COUNTRY, 2024 76
TABLE 17 LIST OF ELECTRIC VEHICLES WITH AVERAGE RANGE 81
TABLE 18 CHARGING POINT OPERATORS 85
TABLE 19 ELECTRIC FLEET COMMITMENTS BY LEADING COMPANIES 87
TABLE 20 ELECTRIC VEHICLE MARKET: IMPACT OF MARKET DYNAMICS 91
TABLE 21 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 92
TABLE 22 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 93
TABLE 23 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 95
TABLE 24 NETHERLANDS: ELECTRIC VEHICLE INCENTIVES 95
TABLE 25 NETHERLANDS: ELECTRIC VEHICLE CHARGING STATION INCENTIVES 96
TABLE 26 GERMANY: ELECTRIC VEHICLE INCENTIVES 96
TABLE 27 GERMANY: ELECTRIC VEHICLE CHARGING STATION INCENTIVES 97
TABLE 28 FRANCE: ELECTRIC VEHICLE INCENTIVES 97
TABLE 29 FRANCE: ELECTRIC VEHICLE CHARGING STATION INCENTIVES 98
TABLE 30 UK: ELECTRIC VEHICLE INCENTIVES 98
TABLE 31 UK: ELECTRIC VEHICLE CHARGING STATION INCENTIVES 99
TABLE 32 CHINA: ELECTRIC VEHICLE INCENTIVES 99
TABLE 33 CHINA: ELECTRIC VEHICLE CHARGING STATION INCENTIVES 100
TABLE 34 US: ELECTRIC VEHICLE INCENTIVES 100
TABLE 35 US: ELECTRIC VEHICLE CHARGING STATION INCENTIVES 101
TABLE 36 AUSTRIA: ELECTRIC VEHICLE INCENTIVES 101
TABLE 37 GLOBAL INDUSTRY STANDARDS IN ELECTRIC VEHICLE MARKET 102
TABLE 38 CERTIFICATIONS, LABELING, AND ECO-STANDARDS IN ELECTRIC VEHICLE MARKET 103
TABLE 39 COMPANY ANNOUNCEMENTS FOR SODIUM-ION BATTERY ROADMAP 105
TABLE 40 OEM TIE-UPS FOR INTEGRATED E-AXLE DEPLOYMENT 106
TABLE 41 LIST OF ELECTRIC VEHICLES WITH V2L 108
TABLE 42 RECENT DEVELOPMENTS IN SOLID-STATE BATTERIES 110
TABLE 43 OEM PLANS FOR BATTERY CIRCULARITY 110
TABLE 44 ELECTRIC VEHICLE MARKET: TOTAL NUMBER OF PATENTS,
JANUARY 2015–DECEMBER 2024 115
TABLE 45 IMPORTANT PATENT REGISTRATIONS RELATED TO ELECTRIC VEHICLE MARKET 118
TABLE 46 COMMERCIALIZATION PLANS AND VALUE PROPOSITION FOR KEY ELECTRIC VEHICLE TECHNOLOGIES 125
TABLE 47 TOP USE CASES AND MARKET POTENTIAL 126
TABLE 48 TOP MANUFACTURING USE CASES AND MARKET POTENTIAL 126
TABLE 49 BEST PRACTICES: COMPANIES IMPLEMENTING USE CASES 127
TABLE 50 ELECTRIC VEHICLE MARKET: CASE STUDIES RELATED TO GEN AI IMPLEMENTATION 127
TABLE 51 INTERCONNECTED ADJACENT ECOSYSTEM AND IMPACT ON MARKET PLAYERS 127
TABLE 52 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP VEHICLE TYPES (%) 131
TABLE 53 KEY BUYING CRITERIA FOR ELECTRIC VEHICLE, BY VEHICLE TYPE 132
TABLE 54 ELECTRIC VEHICLE MARKET: ROLE OF COMPANIES IN ECOSYSTEM 135
TABLE 55 ELECTRIC VEHICLE MARKET: INDICATIVE SELLING PRICE, BY KEY BATTERY ELECTRIC VEHICLE MODELS, 2024 138
TABLE 56 AVERAGE SELLING PRICE, BY PROPULSION, 2022–2024 (USD) 139
TABLE 57 AVERAGE SELLING PRICE TREND, BY REGION, 2022−2024 (USD) 140
TABLE 58 ELECTRIC VEHICLE MARKET: KEY CONFERENCES AND EVENTS, 2025–2026 144
TABLE 59 IMPORT DATA FOR HS CODE 870380, BY COUNTRY, 2021-2024 (USD BILLION) 145
TABLE 60 EXPORT DATA FOR HS CODE 870380, BY COUNTRY, 2020-2024 (USD BILLION) 146
TABLE 61 EXISTING AND UPCOMING ELECTRIC VEHICLE MODELS, 2024–2026 149
TABLE 62 ANNUAL ELECTRIC COST VS. ANNUAL GAS COST (2024) 150
TABLE 63 ELECTRIC VEHICLE MARKET: OEM TARGETS AND INVESTMENTS 153
TABLE 64 ELECTRIC VEHICLE MARKET, BY PROPULSION, 2021–2024 (THOUSAND UNITS) 165
TABLE 65 ELECTRIC VEHICLE MARKET, BY PROPULSION, 2025–2035 (THOUSAND UNITS) 165
TABLE 66 ELECTRIC VEHICLE MARKET, BY PROPULSION, 2021–2024 (USD BILLION) 166
TABLE 67 ELECTRIC VEHICLE MARKET, BY PROPULSION, 2025–2035 (USD BILLION) 166
TABLE 68 BEST-SELLING ELECTRIC VEHICLES IN 2024 (UNITS) 166
TABLE 69 BATTERY ELECTRIC VEHICLE MARKET, BY REGION,
2021–2024 (THOUSAND UNITS) 168
TABLE 70 BATTERY ELECTRIC VEHICLE MARKET, BY REGION,
2025–2035 (THOUSAND UNITS) 168
TABLE 71 BATTERY ELECTRIC VEHICLE MARKET, BY REGION, 2021–2024 (USD BILLION) 169
TABLE 72 BATTERY ELECTRIC VEHICLE MARKET, BY REGION, 2025–2035 (USD BILLION) 169
TABLE 73 FUEL CELL ELECTRIC VEHICLE MARKET, BY REGION,
2021–2024 (THOUSAND UNITS) 170
TABLE 74 FUEL CELL ELECTRIC VEHICLE MARKET, BY REGION,
2025–2035 (THOUSAND UNITS) 171
TABLE 75 FUEL CELL ELECTRIC VEHICLE MARKET, BY REGION, 2021–2024 (USD BILLION) 171
TABLE 76 FUEL CELL ELECTRIC VEHICLE MARKET, BY REGION, 2025–2035 (USD BILLION) 171
TABLE 77 PLUG-IN HYBRID ELECTRIC VEHICLE MARKET, BY REGION,
2021–2024 (THOUSAND UNITS) 172
TABLE 78 PLUG-IN HYBRID ELECTRIC VEHICLE MARKET, BY REGION,
2025–2035 (THOUSAND UNITS) 173
TABLE 79 PLUG-IN HYBRID ELECTRIC VEHICLE MARKET, BY REGION,
2021–2024 (USD BILLION) 173
TABLE 80 PLUG-IN HYBRID ELECTRIC VEHICLE MARKET, BY REGION,
2025–2035 (USD BILLION) 173
TABLE 81 HYBRID ELECTRIC VEHICLE MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 174
TABLE 82 HYBRID ELECTRIC VEHICLE MARKET, BY REGION, 2025–2035 (THOUSAND UNITS) 175
TABLE 83 HYBRID ELECTRIC VEHICLE MARKET, BY REGION, 2021–2024 (USD BILLION) 175
TABLE 84 HYBRID ELECTRIC VEHICLE MARKET, BY REGION, 2025–2035 (USD BILLION) 175
TABLE 85 MILD HYBRID ELECTRIC VEHICLE MARKET, BY REGION,
2021–2024 (THOUSAND UNITS) 176
TABLE 86 MILD HYBRID ELECTRIC VEHICLE MARKET, BY REGION,
2025–2035 (THOUSAND UNITS) 177
TABLE 87 MILD HYBRID ELECTRIC VEHICLE MARKET, BY REGION, 2021–2024 (USD BILLION) 177
TABLE 88 MILD HYBRID ELECTRIC VEHICLE MARKET, BY REGION, 2025–2035 (USD BILLION) 178
TABLE 89 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2021–2024 (THOUSAND UNITS) 181
TABLE 90 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2025–2035 (THOUSAND UNITS) 181
TABLE 91 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2021–2024 (USD BILLION) 181
TABLE 92 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2025–2035 (USD BILLION) 182
TABLE 93 BEST-SELLING ELECTRIC PASSENGER CAR SALES, BY MODEL, 2024 182
TABLE 94 ELECTRIC PASSENGER CAR MODELS, 2024–2027 183
TABLE 95 UPCOMING ELECTRIC COMMERCIAL VEHICLES, 2024–2026 184
TABLE 96 ELECTRIC PASSENGER CAR MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 185
TABLE 97 ELECTRIC PASSENGER CAR MARKET, BY REGION, 2025–2035 (THOUSAND UNITS) 185
TABLE 98 ELECTRIC PASSENGER CAR MARKET, BY REGION, 2021–2024 (USD BILLION) 185
TABLE 99 ELECTRIC PASSENGER CAR MARKET, BY REGION, 2025–2035 (USD BILLION) 186
TABLE 100 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2021–2024 (THOUSAND UNITS) 187
TABLE 101 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2025–2035 (THOUSAND UNITS) 187
TABLE 102 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2021–2024 (USD BILLION) 188
TABLE 103 ELECTRIC COMMERCIAL VEHICLE MARKET, BY REGION,
2025–2035 (USD BILLION) 188
TABLE 104 BATTERY CELL AND PACK SUPPLIER DATA 190
TABLE 105 ON-BOARD CHARGER SUPPLIER DATA 191
TABLE 106 MOTOR SUPPLIER DATA 192
TABLE 107 DC-DC CONVERTER SUPPLIER DATA 196
TABLE 108 INVERTER SUPPLIER DATA 198
TABLE 109 BATTERY MANAGEMENT SYSTEM SUPPLIER DATA 199
TABLE 110 ELECTRIC VEHICLE FLEET TARGETS WORLDWIDE 202
TABLE 111 ELECTRIC VEHICLES IN USE FOR COMMERCIAL FLEETS 203
TABLE 112 COMMERCIAL FLEET SEGMENTS BY KEY COMPANIES 204
TABLE 113 HYBRID ELECTRIC VEHICLE MARKET, BY CONFIGURATION TYPE,
2021–2024 (THOUSAND UNITS) 211
TABLE 114 HYBRID ELECTRIC VEHICLE MARKET, BY CONFIGURATION TYPE,
2025–2035 (THOUSAND UNITS) 211
TABLE 115 SERIES: HYBRID ELECTRIC VEHICLE MARKET, BY REGION,
2021–2024 (THOUSAND UNITS) 212
TABLE 116 SERIES: HYBRID ELECTRIC VEHICLE MARKET, BY REGION,
2025–2035 (THOUSAND UNITS) 213
TABLE 117 PARALLEL: HYBRID ELECTRIC VEHICLE MARKET, BY REGION,
2021–2024 (THOUSAND UNITS) 214
TABLE 118 PARALLEL: HYBRID ELECTRIC VEHICLE MARKET, BY REGION,
2025–2035 (THOUSAND UNITS) 214
TABLE 119 SERIES-PARALLEL: HYBRID ELECTRIC VEHICLE MARKET,
BY REGION, 2021–2024 (THOUSAND UNITS) 215
TABLE 120 SERIES-PARALLEL: HYBRID ELECTRIC VEHICLE MARKET,
BY REGION, 2025–2035 (THOUSAND UNITS) 216
TABLE 121 DIFFERENCE BETWEEN 400V AND 800V ELECTRIC ARCHITECTURES 222
TABLE 122 ELECTRIC VEHICLE MARKET, BY ELECTRIC ARCHITECTURE,
2021–2024 (THOUSAND UNITS) 223
TABLE 123 ELECTRIC VEHICLE MARKET, BY ELECTRIC ARCHITECTURE,
2025–2035 (THOUSAND UNITS) 223
TABLE 124 VEHICLE MODELS, BY ELECTRIC ARCHITECTURE 400V–800V (UNITS) 224
TABLE 125 400V: ELECTRIC ARCHITECTURE MARKET, BY REGION,
2021–2024 (THOUSAND UNITS) 225
TABLE 126 400V: ELECTRIC ARCHITECTURE MARKET, BY REGION,
2025–2035 (THOUSAND UNITS) 225
TABLE 127 VEHICLE MODELS, BY ELECTRIC ARCHITECTURE FOR 800V, 2024 226
TABLE 128 800V: ELECTRIC ARCHITECTURE MARKET, BY REGION,
2021–2024 (THOUSAND UNITS) 227
TABLE 129 800V: ELECTRIC ARCHITECTURE MARKET, BY REGION,
2025–2035 (THOUSAND UNITS) 227
TABLE 130 PLUG-IN ELECTRIC VEHICLE MARKET, BY VEHICLE BODY TYPE,
2021–2024 (THOUSAND UNITS) 230
TABLE 131 PLUG-IN ELECTRIC VEHICLE MARKET, BY VEHICLE BODY TYPE,
2025–2035 (THOUSAND UNITS) 231
TABLE 132 SUV/MPV: PLUG-IN ELECTRIC VEHICLE MARKET, BY REGION,
2021–2024 (THOUSAND UNITS) 232
TABLE 133 SUV/MPV: PLUG-IN ELECTRIC VEHICLE MARKET, BY REGION,
2025–2035 (THOUSAND UNITS) 232
TABLE 134 SEDAN: PLUG-IN ELECTRIC VEHICLE MARKET, BY REGION,
2021–2024 (THOUSAND UNITS) 233
TABLE 135 SEDAN: PLUG-IN ELECTRIC VEHICLE MARKET, BY REGION,
2025–2035 (THOUSAND UNITS) 233
TABLE 136 HATCHBACK: PLUG-IN ELECTRIC VEHICLE MARKET,
BY REGION, 2021–2024 (THOUSAND UNITS) 234
TABLE 137 HATCHBACK: PLUG-IN ELECTRIC VEHICLE MARKET,
BY REGION, 2025–2035 (THOUSAND UNITS) 235
TABLE 138 PLUG-IN ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE,
2021–2024 (THOUSAND UNITS) 238
TABLE 139 PLUG-IN ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE,
2025–2035 (THOUSAND UNITS) 238
TABLE 140 POPULAR ELECTRIC VEHICLES WORLDWIDE, BY DRIVE TYPE (UNITS) 239
TABLE 141 FRONT-WHEEL DRIVE: PLUG-IN ELECTRIC VEHICLE MARKET,
BY REGION, 2021–2024 (THOUSAND UNITS) 240
TABLE 142 FRONT-WHEEL DRIVE: PLUG-IN ELECTRIC VEHICLE MARKET,
BY REGION, 2025–2035 (THOUSAND UNITS) 240
TABLE 143 REAR-WHEEL DRIVE: PLUG-IN ELECTRIC VEHICLE MARKET,
BY REGION, 2021–2024 (THOUSAND UNITS) 241
TABLE 144 REAR-WHEEL DRIVE: PLUG-IN ELECTRIC VEHICLE MARKET,
BY REGION, 2025–2035 (THOUSAND UNITS) 241
TABLE 145 ALL WHEEL DRIVE: PLUG-IN ELECTRIC VEHICLE MARKET,
BY REGION, 2021–2024 (THOUSAND UNITS) 242
TABLE 146 ALL WHEEL DRIVE: PLUG-IN ELECTRIC VEHICLE MARKET,
BY REGION, 2025–2035 (THOUSAND UNITS) 243
TABLE 147 PLUG-IN ELECTRIC VEHICLE MARKET, BY VEHICLE TOP SPEED,
2021–2024 (THOUSAND UNITS) 246
TABLE 148 PLUG-IN ELECTRIC VEHICLE MARKET, BY VEHICLE TOP SPEED,
2025–2035 (THOUSAND UNITS) 246
TABLE 149 FASTEST ELECTRIC CARS 246
TABLE 150 <110 MPH: PLUG-IN ELECTRIC VEHICLE MARKET,
BY REGION, 2021–2024 (THOUSAND UNITS) 247
TABLE 151 <110 MPH: PLUG-IN ELECTRIC VEHICLE MARKET,
BY REGION, 2025–2035 (THOUSAND UNITS) 248
TABLE 152 >110 MPH: PLUG-IN ELECTRIC VEHICLE MARKET,
BY REGION, 2021–2024 (THOUSAND UNITS) 249
TABLE 153 >110 MPH: PLUG-IN ELECTRIC VEHICLE MARKET,
BY REGION, 2025–2035 (THOUSAND UNITS) 249
TABLE 154 ELECTRIC VEHICLE MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 253
TABLE 155 ELECTRIC VEHICLE MARKET, BY REGION, 2025–2035 (THOUSAND UNITS) 253
TABLE 156 ELECTRIC VEHICLE MARKET, BY REGION, 2021–2024 (USD BILLION) 254
TABLE 157 ELECTRIC VEHICLE MARKET, BY REGION, 2025–2035 (USD BILLION) 254
TABLE 158 ASIA PACIFIC: ELECTRIC VEHICLE MARKET, BY COUNTRY,
2021–2024 (THOUSAND UNITS) 256
TABLE 159 ASIA PACIFIC: ELECTRIC VEHICLE MARKET, BY COUNTRY,
2025–2035 (THOUSAND UNITS) 256
TABLE 160 BEST-SELLING ELECTRIC VEHICLES IN CHINA, 2024 260
TABLE 161 CHINA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 262
TABLE 162 CHINA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 262
TABLE 163 INDIA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 263
TABLE 164 INDIA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 263
TABLE 165 JAPAN: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 264
TABLE 166 JAPAN: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 264
TABLE 167 SOUTH KOREA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 265
TABLE 168 SOUTH KOREA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 266
TABLE 169 SOUTHEAST ASIA: ELECTRIC VEHICLE MARKET, BY COUNTRY,
2021–2024 (THOUSAND UNITS) 267
TABLE 170 SOUTHEAST ASIA: ELECTRIC VEHICLE MARKET, BY COUNTRY,
2025–2035 (THOUSAND UNITS) 267
TABLE 171 THAILAND: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 271
TABLE 172 THAILAND: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 271
TABLE 173 INDONESIA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 272
TABLE 174 INDONESIA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 273
TABLE 175 MALAYSIA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 274
TABLE 176 MALAYSIA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 274
TABLE 177 VIETNAM: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 275
TABLE 178 VIETNAM: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 275
TABLE 179 SINGAPORE: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 276
TABLE 180 SINGAPORE: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 276
TABLE 181 PHILIPPINES: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 277
TABLE 182 PHILIPPINES: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 277
TABLE 183 AUSTRALIA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 278
TABLE 184 AUSTRALIA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 279
TABLE 185 NORTH AMERICA: ELECTRIC VEHICLE MARKET, BY COUNTRY,
2021–2024 (THOUSAND UNITS) 280
TABLE 186 NORTH AMERICA: ELECTRIC VEHICLE MARKET, BY COUNTRY,
2025–2035 (THOUSAND UNITS) 281
TABLE 187 BEST-SELLING ELECTRIC VEHICLES IN US, 2024 284
TABLE 188 US: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 285
TABLE 189 US: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 285
TABLE 190 CANADA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 286
TABLE 191 CANADA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 286
TABLE 192 MEXICO: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 287
TABLE 193 MEXICO: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 287
TABLE 194 EUROPE: ELECTRIC VEHICLE MARKET, BY COUNTRY,
2021–2024 (THOUSAND UNITS) 289
TABLE 195 EUROPE: ELECTRIC VEHICLE MARKET, BY COUNTRY,
2025–2035 (THOUSAND UNITS) 290
TABLE 196 GERMANY: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 295
TABLE 197 GERMANY: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 295
TABLE 198 FRANCE: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 296
TABLE 199 FRANCE: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 296
TABLE 200 NETHERLANDS: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 297
TABLE 201 NETHERLANDS: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 298
TABLE 202 NORWAY: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 299
TABLE 203 NORWAY: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 299
TABLE 204 SWEDEN: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 300
TABLE 205 SWEDEN: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 300
TABLE 206 UK: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 302
TABLE 207 UK: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 302
TABLE 208 DENMARK: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 303
TABLE 209 DENMARK: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 303
TABLE 210 AUSTRIA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 304
TABLE 211 AUSTRIA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 304
TABLE 212 SWITZERLAND: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 305
TABLE 213 SWITZERLAND: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 305
TABLE 214 SPAIN: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 306
TABLE 215 SPAIN: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 307
TABLE 216 RUSSIA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 308
TABLE 217 RUSSIA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 308
TABLE 218 ITALY: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 309
TABLE 219 ITALY: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 309
TABLE 220 MIDDLE EAST: ELECTRIC VEHICLE MARKET, BY COUNTRY,
2021–2024 (THOUSAND UNITS) 311
TABLE 221 MIDDLE EAST: ELECTRIC VEHICLE MARKET, BY COUNTRY,
2025–2035 (THOUSAND UNITS) 311
TABLE 222 UAE: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 314
TABLE 223 UAE: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 314
TABLE 224 SAUDI ARABIA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 315
TABLE 225 SAUDI ARABIA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 315
TABLE 226 ISRAEL: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 316
TABLE 227 ISRAEL: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 316
TABLE 228 LATIN AMERICA: ELECTRIC VEHICLE MARKET, BY COUNTRY,
2021–2024 (THOUSAND UNITS) 318
TABLE 229 LATIN AMERICA: ELECTRIC VEHICLE MARKET, BY COUNTRY,
2025–2035 (THOUSAND UNITS) 318
TABLE 230 BRAZIL: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 321
TABLE 231 BRAZIL: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 321
TABLE 232 COLOMBIA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 322
TABLE 233 COLOMBIA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 323
TABLE 234 CHILE: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 324
TABLE 235 CHILE: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 324
TABLE 236 URUGUAY: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 325
TABLE 237 URUGUAY: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 325
TABLE 238 COSTA RICA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 326
TABLE 239 COSTA RICA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 326
TABLE 240 AFRICA: ELECTRIC VEHICLE MARKET, BY COUNTRY,
2021–2024 (THOUSAND UNITS) 328
TABLE 241 AFRICA: ELECTRIC VEHICLE MARKET, BY COUNTRY,
2025–2035 (THOUSAND UNITS) 328
TABLE 242 MOROCCO: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 331
TABLE 243 MOROCCO: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 331
TABLE 244 EGYPT: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 332
TABLE 245 EGYPT: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 332
TABLE 246 SOUTH AFRICA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 334
TABLE 247 SOUTH AFRICA: ELECTRIC VEHICLE MARKET, BY PROPULSION,
2025–2035 (THOUSAND UNITS) 334
TABLE 248 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2021–2025 335
TABLE 249 ELECTRIC VEHICLE MARKET: DEGREE OF COMPETITION, 2024 338
TABLE 250 ELECTRIC VEHICLE MARKET: REGION FOOTPRINT 349
TABLE 251 ELECTRIC VEHICLE MARKET: VEHICLE TOP SPEED FOOTPRINT 350
TABLE 252 ELECTRIC VEHICLE MARKET: VEHICLE DRIVE TYPE FOOTPRINT 351
TABLE 253 ELECTRIC VEHICLE MARKET: PROPULSION FOOTPRINT 352
TABLE 254 ELECTRIC VEHICLE MARKET: VEHICLE BODY TYPE FOOTPRINT 353
TABLE 255 ELECTRIC VEHICLE MARKET: LIST OF STARTUPS/SMES 356
TABLE 256 ELECTRIC VEHICLE MARKET: COMPETITIVE BENCHMARKING
OF STARTUPS/SMES, (1/2) 356
TABLE 257 ELECTRIC VEHICLE MARKET: COMPETITIVE BENCHMARKING
OF STARTUPS/SMES, (2/2) 357
TABLE 258 ELECTRIC VEHICLE MARKET: PRODUCT LAUNCHES, JANUARY 2021–JULY 2025 357
TABLE 259 ELECTRIC VEHICLE MARKET: DEALS, JANUARY 2021–JULY 2025 358
TABLE 260 ELECTRIC VEHICLE MARKET: EXPANSIONS, JANUARY 2021–JULY 2025 359
TABLE 261 ELECTRIC VEHICLE MARKET: OTHER DEVELOPMENTS, JANUARY 2021–JULY 2025 361
TABLE 262 BYD COMPANY LTD.: COMPANY OVERVIEW 362
TABLE 263 BYD COMPANY LTD.: TOTAL VOLUME OF PRODUCTION AND
SALE OF VEHICLES, 2024 (UNITS) 363
TABLE 264 BYD COMPANY LTD.: PRODUCTS/SOLUTIONS OFFERED 364
TABLE 265 BYD COMPANY LTD.: PRODUCT LAUNCHES/DEVELOPMENTS 365
TABLE 266 BYD COMPANY LTD.: DEALS 367
TABLE 267 BYD COMPANY LTD.: EXPANSIONS 370
TABLE 268 BYD COMPANY LTD.: OTHER DEVELOPMENTS 371
TABLE 269 TESLA: COMPANY OVERVIEW 373
TABLE 270 TESLA: INSTALLED ANNUAL VEHICLE CAPACITY, BY MODEL 374
TABLE 271 TESLA: PRODUCTION AND DELIVERY OF VEHICLES, 2024 375
TABLE 272 TESLA: PRODUCTS/SOLUTIONS OFFERED 375
TABLE 273 TESLA: PRODUCT LAUNCHES/DEVELOPMENTS/UPGRADES 375
TABLE 274 TESLA: DEALS 376
TABLE 275 TESLA: EXPANSIONS 376
TABLE 276 TESLA: OTHER DEVELOPMENTS 377
TABLE 277 ZHEJIANG GEELY HOLDING GROUP: COMPANY OVERVIEW 379
TABLE 278 ZHEJIANG GEELY HOLDING GROUP: VOLVO CAR SALES, 2024 (UNITS) 381
TABLE 279 ZHEJIANG GEELY HOLDING GROUP: PRODUCTS/SOLUTIONS OFFERED 382
TABLE 280 ZHEJIANG GEELY HOLDING GROUP: PRODUCT LAUNCHES/DEVELOPMENTS 383
TABLE 281 ZHEJIANG GEELY HOLDING GROUP: DEALS 386
TABLE 282 ZHEJIANG GEELY HOLDING GROUP: EXPANSIONS 388
TABLE 283 ZHEJIANG GEELY HOLDING GROUP: OTHER DEVELOPMENTS 389
TABLE 284 VOLKSWAGEN GROUP: COMPANY OVERVIEW 391
TABLE 285 VOLKSWAGEN GROUP: BATTERY ELECTRIC VEHICLE DELIVERIES, 2024 394
TABLE 286 VOLKSWAGEN GROUP: PRODUCTS/SOLUTIONS OFFERED 394
TABLE 287 VOLKSWAGEN GROUP: PRODUCT LAUNCHES/DEVELOPMENTS 396
TABLE 288 VOLKSWAGEN GROUP: DEALS 398
TABLE 289 VOLKSWAGEN GROUP: EXPANSIONS 400
TABLE 290 VOLKSWAGEN GROUP: OTHER DEVELOPMENTS 401
TABLE 291 GENERAL MOTORS: COMPANY OVERVIEW 403
TABLE 292 GENERAL MOTORS: TOTAL VOLUME OF PRODUCTION AND
SALE OF VEHICLES, 2024 (UNITS) 404
TABLE 293 GENERAL MOTORS: PRODUCTS/SOLUTIONS OFFERED 405
TABLE 294 GENERAL MOTORS: PRODUCT LAUNCHES 406
TABLE 295 GENERAL MOTORS: DEALS 406
TABLE 296 GENERAL MOTORS: EXPANSIONS 407
TABLE 297 GENERAL MOTORS: OTHER DEVELOPMENTS 407
TABLE 298 CHANGAN: COMPANY OVERVIEW 409
TABLE 299 CHANGAN: TOTAL VOLUME OF PRODUCTION AND
SALE OF VEHICLES, 2024 (UNITS) 410
TABLE 300 CHANGAN: PRODUCTS/SOLUTIONS OFFERED 411
TABLE 301 CHANGAN: PRODUCT LAUNCHES 412
TABLE 302 CHANGAN: DEALS 412
TABLE 303 CHANGAN: EXPANSIONS 412
TABLE 304 BMW GROUP: COMPANY OVERVIEW 413
TABLE 305 BMW GROUP: TOTAL VOLUME OF PRODUCTION AND
SALE OF VEHICLES, 2024 (UNITS) 415
TABLE 306 BMW GROUP: PRODUCTS/SOLUTIONS OFFERED 415
TABLE 307 BMW GROUP: PRODUCT LAUNCHES/UPGRADES 416
TABLE 308 BMW GROUP: EXPANSIONS 418
TABLE 309 BMW GROUP: OTHER DEVELOPMENTS 418
TABLE 310 LI AUTO INC.: COMPANY OVERVIEW 419
TABLE 311 LI AUTO INC.: TOTAL VOLUME OF PRODUCTION AND
SALE OF VEHICLES, 2024 (UNITS) 419
TABLE 312 LI AUTO INC.: PRODUCTS/SOLUTIONS OFFERED 420
TABLE 313 LI AUTO INC.: PRODUCT LAUNCHES 420
TABLE 314 LI AUTO INC.: DEALS 420
TABLE 315 HYUNDAI MOTOR GROUP: COMPANY OVERVIEW 421
TABLE 316 HYUNDAI MOTOR GROUP: TOTAL VOLUME OF PRODUCTION AND
SALE OF VEHICLES, 2024 (UNITS) 422
TABLE 317 HYUNDAI MOTOR GROUP: PRODUCTS/SOLUTIONS OFFERED 423
TABLE 318 HYUNDAI MOTOR GROUP: PRODUCT LAUNCHES 423
TABLE 319 HYUNDAI MOTOR GROUP: DEALS 425
TABLE 320 HYUNDAI MOTOR GROUP: EXPANSIONS 426
TABLE 321 HYUNDAI MOTOR GROUP: OTHER DEVELOPMENTS 427
TABLE 322 GAC GROUP: COMPANY OVERVIEW 428
TABLE 323 GAC GROUP: TOTAL VOLUME OF PRODUCTION AND
SALE OF VEHICLES, 2024 (UNITS) 429
TABLE 324 GAC GROUP: PRODUCTS/SOLUTIONS OFFERED 429
TABLE 325 GAC GROUP: PRODUCT LAUNCHES/DEVELOPMENTS 429
TABLE 326 GAC GROUP: DEALS 431
TABLE 327 GAC GROUP: EXPANSIONS 433
TABLE 328 GAC GROUP: OTHER DEVELOPMENTS 434
TABLE 329 STELLANTIS NV: COMPANY OVERVIEW 435
TABLE 330 STELLANTIS NV: TOTAL VOLUME OF PRODUCTION AND
SALE OF VEHICLES, 2024 (UNITS) 437
TABLE 331 STELLANTIS NV: PRODUCTS/SOLUTIONS OFFERED 437
TABLE 332 STELLANTIS NV: PRODUCT LAUNCHES/DEVELOPMENTS 438
TABLE 333 STELLANTIS NV: DEALS 441
TABLE 334 STELLANTIS NV: EXPANSIONS 446
TABLE 335 STELLANTIS NV: OTHER DEVELOPMENTS 447
TABLE 336 GREAT WALL MOTOR: COMPANY OVERVIEW 448
TABLE 337 GREAT WALL MOTOR: TOTAL VOLUME OF PRODUCTION AND
SALE OF VEHICLES, 2024 (UNITS) 450
TABLE 338 GREAT WALL MOTOR: PRODUCTS/SOLUTIONS OFFERED 450
TABLE 339 GREAT WALL MOTOR: PRODUCT LAUNCHES/DEVELOPMENTS 451
TABLE 340 GREAT WALL MOTOR: DEALS 452
TABLE 341 GREAT WALL MOTOR: EXPANSIONS 453
TABLE 342 GREAT WALL MOTOR: OTHER DEVELOPMENTS 454
TABLE 343 TOYOTA MOTOR CORPORATION: COMPANY OVERVIEW 455
TABLE 344 RENAULT-NISSAN-MITSUBISHI: COMPANY OVERVIEW 456
TABLE 345 HONDA MOTOR CO., LTD.: COMPANY OVERVIEW 457
TABLE 346 MERCEDES-BENZ GROUP AG: COMPANY OVERVIEW 458
TABLE 347 FORD MOTOR COMPANY: COMPANY OVERVIEW 459
TABLE 348 CHERY: COMPANY OVERVIEW 460
TABLE 349 LEAPMOTOR INTERNATIONAL B.V.: COMPANY OVERVIEW 461
TABLE 350 SAIC MOTOR CORPORATION LIMITED: COMPANY OVERVIEW 462
TABLE 351 NIO: COMPANY OVERVIEW 463
TABLE 352 XIAOMI: COMPANY OVERVIEW 464
TABLE 353 RIVIAN: COMPANY OVERVIEW 465
TABLE 354 LUCID: COMPANY OVERVIEW 466
TABLE 355 DONGFENG MOTOR CORPORATION: COMPANY OVERVIEW 467
TABLE 356 FAW TRUCKS CO., LTD.: COMPANY OVERVIEW 468
TABLE 357 XPENG INC.: COMPANY OVERVIEW 469
TABLE 358 KG MOBILITY CORP.: COMPANY OVERVIEW 470
TABLE 359 NETA: COMPANY OVERVIEW 471
TABLE 360 MAZDA MOTOR CORPORATION: COMPANY OVERVIEW 472
TABLE 361 SUBARU CORPORATION: COMPANY OVERVIEW 473
TABLE 362 BAIC GROUP CO., LTD.: COMPANY OVERVIEW 474
TABLE 363 TATA MOTORS LIMITED: COMPANY OVERVIEW 475
TABLE 364 XIAOMI AUTO: COMPANY OVERVIEW 476
LIST OF FIGURES
FIGURE 1 ELECTRIC VEHICLE MARKET SEGMENTATION AND REGIONAL SCOPE 42
FIGURE 2 RESEARCH DESIGN 46
FIGURE 3 RESEARCH DESIGN MODEL 47
FIGURE 4 PRIMARY INSIGHTS 51
FIGURE 5 MARKET SIZE ESTIMATION: HYPOTHESIS BUILDING 53
FIGURE 6 BOTTOM-UP APPROACH 54
FIGURE 7 TOP-DOWN APPROACH 55
FIGURE 8 DATA TRIANGULATION 56
FIGURE 9 GROWTH PROJECTIONS FROM DEMAND-SIDE DRIVERS 57
FIGURE 10 DEMAND AND SUPPLY-SIDE FACTOR ANALYSIS 58
FIGURE 11 ELECTRIC VEHICLE MARKET OUTLOOK 62
FIGURE 12 PLUG-IN ELECTRIC VEHICLE MARKET, BY REGION, 2025–2035 63
FIGURE 13 ELECTRIC VEHICLE MARKET, BY PROPULSION, 2025–2035 63
FIGURE 14 KEY PLAYERS IN ELECTRIC VEHICLE MARKET 64
FIGURE 15 ADVANCEMENTS IN BATTERY TECHNOLOGIES TO DRIVE MARKET 65
FIGURE 16 PASSENGER CAR SEGMENT TO SECURE LEADING POSITION IN 2035 65
FIGURE 17 BEV TO HOLD LARGEST MARKET SHARE IN 2035 66
FIGURE 18 >110 MPH TO BE FASTER-GROWING SEGMENT DURING FORECAST PERIOD 66
FIGURE 19 FWD TO SECURE LEADING POSITION IN 2035 67
FIGURE 20 400V ELECTRIC ARCHITECTURE TO DOMINATE MARKET IN 2035 67
FIGURE 21 SUV/MPV TO BE FASTEST-GROWING SEGMENT DURING FORECAST PERIOD 68
FIGURE 22 PARALLEL CONFIGURATION TO BE FASTEST-GROWING SEGMENT
DURING FORECAST PERIOD 68
FIGURE 23 ASIA PACIFIC TO SURPASS OTHER REGIONAL MARKETS IN 2025 69
FIGURE 24 ELECTRIC VEHICLE MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,
AND CHALLENGES 71
FIGURE 25 ELECTRIFICATION TARGETS BY COUNTRIES, 2025–2050 72
FIGURE 26 EMISSIONS OF ELECTRIC VEHICLES AND GASOLINE VEHICLES 77
FIGURE 27 PRICE TREND OF ELECTRIC VEHICLE BATTERIES, 2020–2030 (USD PER KWH) 78
FIGURE 28 PURCHASE COST FOR ELECTRIC AND ICE VEHICLES, BY KEY MODELS 79
FIGURE 29 FUEL STATION AVERAGE PRICE COMPARISON 80
FIGURE 30 CHINA’S CONTRIBUTION IN PRODUCTION AND PROCESSING
OF CRITICAL MINERALS, 2023 83
FIGURE 31 GLOBAL COBALT RESERVES, 2024 84
FIGURE 32 GLOBAL LITHIUM RESERVES, 2024 84
FIGURE 33 OPERATION OF WIRELESS CHARGING TECHNOLOGY 86
FIGURE 34 ELECTRIC VEHICLE CHARGING TIME 89
FIGURE 35 ELECTRIC VEHICLE CHARGERS USED WORLDWIDE 90
FIGURE 36 SIC SUPPLY CHAIN FOR ELECTRIC VEHICLES 104
FIGURE 37 HOW V2G CHARGING WORKS 107
FIGURE 38 ELECTRIC VEHICLES WITH V2L 108
FIGURE 39 SOLID-STATE BATTERY ROADMAP, 2035+ 109
FIGURE 40 BATTERY MANAGEMENT AND MONITORING SYSTEM 111
FIGURE 41 BATTERY MANAGEMENT AND MONITORING SYSTEM OF ELECTRIC
VEHICLE ARCHITECTURE 112
FIGURE 42 TECHNOLOGY ADOPTION TIMELINE FOR ELECTRIC VEHICLE MARKET 114
FIGURE 43 PATENT ANALYSIS, BY DOCUMENT TYPE, JANUARY 2015–DECEMBER 2024 115
FIGURE 44 PATENT PUBLICATION TRENDS, 2015−2024 116
FIGURE 45 ELECTRIC VEHICLE MARKET: LEGAL STATUS OF PATENTS,
JANUARY 2015–DECEMBER 2024 116
FIGURE 46 JURISDICTION OF US REGISTERED HIGHEST PERCENTAGE OF PATENTS,
2015–2024 117
FIGURE 47 TOP PATENT APPLICANTS, JANUARY 2015–DECEMBER 2024 117
FIGURE 48 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 2 VEHICLE TYPES 130
FIGURE 49 KEY BUYING CRITERIA FOR ELECTRIC VEHICLE, BY VEHICLE TYPE 131
FIGURE 50 ELECTRIC VEHICLE MARKET: ECOSYSTEM ANALYSIS 133
FIGURE 51 ELECTRIC VEHICLE MARKET: SUPPLY CHAIN ANALYSIS 137
FIGURE 52 AVERAGE SELLING PRICE, BY PROPULSION, 2022-2024 139
FIGURE 53 AVERAGE SELLING PRICE TREND, BY REGION, 2022-2024 (USD) 140
FIGURE 54 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 141
FIGURE 55 INVESTMENT AND FUNDING SCENARIO, 2020–2025 (USD BILLION) 142
FIGURE 56 IMPORT DATA FOR HS CODE 870380, BY COUNTRY, 2020–2024 (USD BILLION) 145
FIGURE 57 EXPORT DATA FOR HS CODE 870380, BY COUNTRY, 2021–2024 (USD BILLION) 146
FIGURE 58 US: TOTAL COST OF OWNERSHIP BREAKDOWN (5 YEARS) 150
FIGURE 59 BILL OF MATERIALS FOR ICE AND ELECTRIC VEHICLES, 2025 VS. 2035 151
FIGURE 60 TOP-SELLING ELECTRIC VEHICLES WORLDWIDE, 2024 (UNITS) 152
FIGURE 61 ASIA PACIFIC: TOP-SELLING ELECTRIC VEHICLES, 2024 (UNITS) 154
FIGURE 62 ASIA PACIFIC: KEY PRICE POINT OF ELECTRIC VEHICLES 155
FIGURE 63 SOUTHEAST ASIA: TOP-SELLING ELECTRIC VEHICLES, 2024 (UNITS) 156
FIGURE 64 SOUTHEAST ASIA: KEY PRICE POINT OF ELECTRIC VEHICLES 156
FIGURE 65 EUROPE: TOP-SELLING ELECTRIC VEHICLES, 2024 (UNITS) 157
FIGURE 66 EUROPE: KEY PRICE POINT OF ELECTRIC VEHICLES 158
FIGURE 67 LATIN AMERICA: TOP-SELLING ELECTRIC VEHICLES, 2024 (UNITS) 159
FIGURE 68 LATIN AMERICA: KEY PRICE POINT OF ELECTRIC VEHICLES 160
FIGURE 69 NORTH AMERICA: TOP-SELLING ELECTRIC VEHICLES, 2024 (UNITS) 161
FIGURE 70 NORTH AMERICA: KEY PRICE POINT OF ELECTRIC VEHICLES 162
FIGURE 71 ELECTRIC VEHICLE COMPARISON, BY PROPULSION 164
FIGURE 72 ELECTRIC VEHICLE MARKET, BY PROPULSION, 2025 VS. 2035 (USD BILLION) 165
FIGURE 73 ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE, 2025 VS. 2035 (USD BILLION) 181
FIGURE 74 SIGNIFICANCE OF V2X IN ELECTRIC VEHICLE MARKET 205
FIGURE 75 V2X COMMUNICATION 206
FIGURE 76 ELECTRIC VEHICLE MARKET: FACTORS IMPACTING V2X 206
FIGURE 77 COMPARISON OF HYBRID ELECTRIC CONFIGURATION TYPES 210
FIGURE 78 HYBRID ELECTRIC VEHICLE MARKET, BY CONFIGURATION TYPE,
2025 VS. 2035 (THOUSAND UNITS) 211
FIGURE 79 CO2 EMISSION REDUCTION POTENTIAL ACROSS DIFFERENT TOPOLOGIES 217
FIGURE 80 HYBRID FUNCTIONS SUPPORTED BY DIFFERENT TOPOLOGIES 218
FIGURE 81 COMPARISON OF CO2 REDUCTION IN WLTC AND NEDC FOR
DIFFERENT TOPOLOGIES 218
FIGURE 82 ELECTRIC VEHICLE MARKET, BY ELECTRIC ARCHITECTURE,
2025 VS. 2035 (THOUSAND UNITS) 223
FIGURE 83 PLUG-IN ELECTRIC VEHICLE MARKET, BY VEHICLE BODY TYPE,
2025 VS. 2035 (THOUSAND UNITS) 230
FIGURE 84 COMPARISON OF ELECTRIC VEHICLE DRIVE TYPES 237
FIGURE 85 PLUG-IN ELECTRIC VEHICLE MARKET, BY VEHICLE DRIVE TYPE,
2025 VS. 2035 (THOUSAND UNITS) 238
FIGURE 86 PLUG-IN ELECTRIC VEHICLE MARKET, BY VEHICLE TOP SPEED,
2025 VS. 2035 (THOUSAND UNITS) 245
FIGURE 87 KEY TRANSPORT POLICIES AND TARGETS BY COUNTRIES 252
FIGURE 88 ELECTRIC VEHICLE MARKET, BY REGION, 2025 VS. 2035 (USD BILLION) 253
FIGURE 89 ASIA PACIFIC: ELECTRIC VEHICLE MARKET SNAPSHOT 256
FIGURE 90 ASIA PACIFIC: REAL GDP GROWTH RATE, BY COUNTRY, 2024–2026 258
FIGURE 91 ASIA PACIFIC: GDP PER CAPITA, BY COUNTRY, 2024–2026 258
FIGURE 92 ASIA PACIFIC: INFLATION RATE AVERAGE CONSUMER PRICES,
BY COUNTRY, 2024–2026 258
FIGURE 93 ASIA PACIFIC: MANUFACTURING INDUSTRY’S CONTRIBUTION TO GDP, 2024 259
FIGURE 94 ELECTRIC VEHICLE MOBILITY LANDSCAPE IN CHINA 261
FIGURE 95 SOUTHEAST ASIA: ELECTRIC VEHICLE MARKET, BY COUNTRY,
2025 VS. 2035 (THOUSAND UNITS) 267
FIGURE 96 SOUTHEAST ASIA: REAL GDP GROWTH RATE, BY COUNTRY, 2024–2026 268
FIGURE 97 SOUTHEAST ASIA: GDP PER CAPITA, BY COUNTRY, 2024–2026 269
FIGURE 98 SOUTHEAST ASIA: INFLATION RATE AVERAGE CONSUMER PRICES,
BY COUNTRY, 2024–2026 269
FIGURE 99 SOUTHEAST ASIA: MANUFACTURING INDUSTRY’S CONTRIBUTION TO GDP, 2024 269
FIGURE 100 NORTH AMERICA: ELECTRIC VEHICLE MARKET SNAPSHOT 280
FIGURE 101 NORTH AMERICA: REAL GDP GROWTH RATE, BY COUNTRY, 2024–2026 282
FIGURE 102 NORTH AMERICA: GDP PER CAPITA, BY COUNTRY, 2024–2026 282
FIGURE 103 NORTH AMERICA: CPI INFLATION RATE, BY COUNTRY, 2024–2026 283
FIGURE 104 NORTH AMERICA: MANUFACTURING INDUSTRY CONTRIBUTION TO GDP, 2024 283
FIGURE 105 BEST-SELLING ELECTRIC VEHICLE MODELS IN EUROPE, 2024 (BEV AND PHEV) 288
FIGURE 106 EUROPE: ELECTRIC VEHICLE MARKET SNAPSHOT 289
FIGURE 107 EUROPE: REAL GDP GROWTH RATE, BY COUNTRY, 2024–2026 291
FIGURE 108 EUROPE: GDP PER CAPITA, BY COUNTRY, 2024–2026 292
FIGURE 109 EUROPE: INFLATION RATE AVERAGE CONSUMER PRICES,
BY COUNTRY, 2024–2025 292
FIGURE 110 EUROPE: MANUFACTURING INDUSTRY’S CONTRIBUTION TO GDP, 2024 293
FIGURE 111 GERMANY: ELECTRIC VEHICLE ROADMAP 294
FIGURE 112 UK: ELECTRIC VEHICLE ROADMAP 301
FIGURE 113 MIDDLE EAST: ELECTRIC VEHICLE MARKET SNAPSHOT 310
FIGURE 114 MIDDLE EAST: REAL GDP ANNUAL PERCENTAGE CHANGE, 2024–2026 312
FIGURE 115 MIDDLE EAST: GDP PER CAPITA, 2024–2026 312
FIGURE 116 MIDDLE EAST: AVERAGE CPI INFLATION RATE, 2024–2026 312
FIGURE 117 MIDDLE EAST: MANUFACTURING INDUSTRY VALUE (AS PART OF GDP), 2024 313
FIGURE 118 LATIN AMERICA: ELECTRIC VEHICLE MARKET SNAPSHOT 317
FIGURE 119 LATIN AMERICA: REAL GDP ANNUAL PERCENTAGE CHANGE, 2024–2026 319
FIGURE 120 LATIN AMERICA: GDP PER CAPITA, 2024–2026 319
FIGURE 121 LATIN AMERICA: AVERAGE CPI INFLATION RATE, 2024–2026 320
FIGURE 122 LATIN AMERICA: MANUFACTURING INDUSTRY VALUE (AS PART OF GDP), 2024 320
FIGURE 123 AFRICA: ELECTRIC VEHICLE MARKET SNAPSHOT 327
FIGURE 124 AFRICA: REAL GDP GROWTH RATE, BY COUNTRY, 2024–2026 329
FIGURE 125 AFRICA: GDP PER CAPITA, BY COUNTRY, 2024–2026 329
FIGURE 126 AFRICA: INFLATION RATE AVERAGE CONSUMER PRICES, BY COUNTRY, 2024–2026 329
FIGURE 127 AFRICA: MANUFACTURING INDUSTRY’S CONTRIBUTION TO GDP, 2024 330
FIGURE 128 MARKET SHARE ANALYSIS OF KEY PLUG-IN ELECTRIC VEHICLE
MANUFACTURERS, 2024 337
FIGURE 129 MARKET SHARE ANALYSIS OF KEY PLAYERS IN HYBRID ELECTRIC
VEHICLE MARKET, 2024 339
FIGURE 130 ASIA PACIFIC: MARKET SHARE ANALYSIS OF KEY PLAYERS
IN ELECTRIC VEHICLE MARKET, 2024 340
FIGURE 131 SOUTHEAST ASIA: MARKET SHARE ANALYSIS OF KEY PLAYERS
IN ELECTRIC VEHICLE MARKET, 2024 340
FIGURE 132 EUROPE: MARKET SHARE ANALYSIS OF KEY PLAYERS
IN ELECTRIC VEHICLE MARKET, 2024 341
FIGURE 133 NORTH AMERICA: MARKET SHARE ANALYSIS OF KEY PLAYERS
IN ELECTRIC VEHICLE MARKET, 2024 342
FIGURE 134 LATIN AMERICA: MARKET SHARE ANALYSIS OF KEY PLAYERS
IN ELECTRIC VEHICLE MARKET, 2024 342
FIGURE 135 REVENUE ANALYSIS OF TOP 5 PLAYERS, 2020–2024 (USD BILLION) 343
FIGURE 136 COMPANY VALUATION IN ELECTRIC VEHICLE MARKET, 2025 344
FIGURE 137 FINANCIAL METRICS (EV/EBITDA) IN ELECTRIC VEHICLE MARKET, 2025 344
FIGURE 138 BRAND/PRODUCT COMPARISON IN ELECTRIC VEHICLE MARKET 345
FIGURE 139 COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024 347
FIGURE 140 ELECTRIC VEHICLE MARKET: COMPANY FOOTPRINT 348
FIGURE 141 COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024 355
FIGURE 142 BYD COMPANY LTD.: COMPANY SNAPSHOT 363
FIGURE 143 TESLA: COMPANY SNAPSHOT 374
FIGURE 144 ZHEJIANG GEELY HOLDING GROUP: COMPANY SNAPSHOT 380
FIGURE 145 ZHEJIANG GEELY HOLDING GROUP: BRANDS 380
FIGURE 146 ZHEJIANG GEELY HOLDING GROUP: PRODUCT LINE-UP OF VOLVO 381
FIGURE 147 VOLKSWAGEN GROUP: COMPANY SNAPSHOT 392
FIGURE 148 VOLKSWAGEN GROUP: REPORTING STRUCTURE 392
FIGURE 149 VOLKSWAGEN GROUP: BUSINESS LANDSCAPE, 2024 393
FIGURE 150 VOLKSWAGEN GROUP: EXPANSION IN KEY REGIONS, 2024 393
FIGURE 151 GENERAL MOTORS: COMPANY SNAPSHOT 404
FIGURE 152 CHANGAN: COMPANY SNAPSHOT 410
FIGURE 153 BMW GROUP: COMPANY SNAPSHOT 414
FIGURE 154 BMW GROUP: ELECTRIC VEHICLE PLANS 414
FIGURE 155 LI AUTO INC.: COMPANY SNAPSHOT 419
FIGURE 156 HYUNDAI MOTOR GROUP: COMPANY SNAPSHOT 422
FIGURE 157 GAC GROUP: COMPANY SNAPSHOT 428
FIGURE 158 STELLANTIS NV: COMPANY SNAPSHOT 436
FIGURE 159 STELLANTIS NV: ELECTRIFICATION PLANS 437
FIGURE 160 GREAT WALL MOTOR: COMPANY SNAPSHOT 449
FIGURE 161 GREAT WALL MOTOR: GLOBAL R&D NETWORK 449
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