Global Commercial Electric Vehicles Market

The buses and coaches market consists of sales of buses and coaches and related services by entities (organizations, sole traders, and partnerships) that produce buses to transport people and goods. The main types in the bus and coach market are diesel buses, hybrid buses, electric buses, and ethanol buses. A hybrid electric bus is a bus that combines a conventional internal combustion engine propulsion system with an electric propulsion system. The various body-built segments include fully built, customizable These are used in general, personal, recreational, tourist, and other applications. The buses and coaches market research report is one of a series of new reports from The Business Research Company that provides bus and coach market statistics, including global market size, regional shares, competitors with a bus and coach market share, detailed bus and coach market segments, market trends and opportunities, and any further data you may need to thrive in the bus and coach industry. This buses and coaches market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global buses and coaches market grew from $38.77 billion in 2021 to $42.39 billion in 2022 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The buses and coaches market is expected to grow to $53.46 billion in 2016 at a CAGR of 6.0%. The increasing demand for travel by bus is expected to drive the growth of the bus and coach market over coming years. According to the Red Bus Creators, the bus sector in India is expanding at a rate of 30–40% year on year. The Redbus organisation is exhibiting a massive 80% growth year-on-year in India itself. Therefore, the growing demand for buses drives the growth of the bus and coach market. Fluctuating prices of metals such as iron and steel are expected to limit the growth of the bus and coach market in the coming years. The automotive industry uses various structural components for bus manufacturing, including iron, steel, and other metals, and fluctuating metal prices increase operational expenses. According to Trade Economics, iron ore, a raw material for iron manufacturing, is $27 per metric tonne for the start of 2020. In March, the price of iron ore was $82, and in October it was $118. The steel price in February 2020 was $507 (3370 Yuan) per metric ton, and in October it was $545 (3631 Yuan) per metric ton. Therefore, the fluctuating price of metals hinders the bus and coach market. The autonomous bus is a key trend gaining popularity in the bus and coach market. The number of autonomous bus pilots is growing, and many manufacturers have already confirmed the introduction of autonomous bus deliveries within a few years from 2019. In November 2019, Volvo Buses conducted a live presentation of a 7900 Hybrid City Bus designed for autonomous operation. The vehicle successfully traveled between the parking lot and several workstations, including washing, repair, and electrical charging, before parking in the correct spot, with all travelers onboard. In May 2019, NFI Group, a North American-based bus manufacturer, acquired the UK-based bus manufacturer Alexander Dennis Limited (ADL) for a deal amount of $405 million (£320 million). The acquisition enhances the NFI product portfolio, diversifies its business model, and provides a platform for international development. Alexander Dennis Limited (ADL) is a bus and coach manufacturer and has vehicle services in the UK, Europe, Hong Kong, Singapore, New Zealand, Mexico, Canada, and the United States sold under the Alexander Dennis and Plaxton brands. Major players in the market are Daimler, VDL Bus and Coach, Scania, Volvo, Marcopolo, Eicher Motors Limited, TATA Motors, Ashok Leyland, Solaris Bus, Coach SA, and Iveco. North America was the largest region in the buses and coaches market in 2021. Asia Pacific was the second-largest region in the buses and coaches market. The regions covered in the buses and coaches market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries in the buses and coaches market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The global buses and coaches market is segmented - 1) By Type: Diesel Buses, Hybrid Buses, Electric Buses, Ethanol Buses 2) By Application: General, Personal, Recreational, Tourist, Other Applications 3) By Body Built: Fully Built, Customizable

The electric bikes and scooters market consists of sales of electric bikes and scooters and related services. The main types in the electric bike and scooter market are electric bikes and electric scooters. An electric bike is a bicycle equipped with an electric motor that is activated to assist with or replace pedaling. The battery types involved are lead-acid, lithium-ion (li-ion), nickel-metal hydride (NiMH), and others. The voltage capacity involved is 48-59V, 60-72V, 73-96V, and above 96V. The drive mechanism types involved are hub motors, mid-drives, and other mechanisms. The electric bikes and scooters market research report is one of a series of new reports from The Business Research Company that provides electric bike and scooter market statistics, including global market size, regional shares, competitors with an electric bike and scooter market share, detailed electric bike and scooter market segments, market trends and opportunities, and any further data you may need to thrive in the electric bike and scooter industry. This electric bikes and scooters market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global electric bikes and scooters market is expected to grow from $20.71 billion in 2021 to $23.38 billion in 2022 at a compound annual growth rate (CAGR) of 12.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The electric bikes and scooters market is expected to grow to $30.27 billion in 2026 at a CAGR of 6.7%. Increasing awareness about pollution is a key driver of the electric bike and scooter market. This is because more people now understand the importance of reducing pollution, and this awareness has led them to look for more environmentally friendly modes of transportation that minimise and control pollution. For example, according to a survey published by Forbes in 2019, due to an increase in awareness about pollution, the sales of electric bikes (e-bikes) have exceeded those of non-electric bikes in the Netherlands. The growth in the adoption of electric bikes and scooters is expected to continue in the coming years as the carbon dioxide emitted by the burning of fossil fuels remains a major threat to the environment, causing global warming and climate change. The lack of infrastructure for battery charging is a major restraint on the electric bike and scooter market. This is mainly because a lack of sufficient bike or scooter charging stations leads to a scarcity of battery charging stations and discourages people from purchasing electric bikes or scooters. For instance, according to express drive data 2021, electric two-wheelers are popular in India. However, the sales of electric two-wheelers remain way lower than conventional petrol ones. We don’t have an appropriate EV ecosystem and the charging stations are in very small numbers. So, in a bid to encourage people to buy EVs and to develop the EV ecosystem in India, eBikeGo has announced that they will install one lakh smart IoT-enabled charging stations in seven Indian cities. Improving battery technology is an emerging trend in the electric bike and scooter market. One such technological improvement of batteries includes the growing use of graphene batteries in electric bikes and scooters. The graphene batteries use electrolytes based on a super-thin material called graphene, which enables faster charging time, higher capacity, and lighter weight of the vehicles. In this regard, Earthday, a startup based in Barcelona, Spain, is working towards further enhancing the efficiency of graphene batteries to charge electric bikes and scooters in around five minutes. The electric bike and scooter market is regulated by the U.S. Congress enacted Public Law sections 107-319 and 107-322. This law pertains to the amendments required for the consumer product safety act and defines stern regulations to be followed in retrospect to the speed of electric bikes. According to this law, the electric motor of the vehicle must be less than 750 watts, and the maximum speed of the bike driven by a person weighing 170 pounds should not exceed 20 mph. To comply with this law, the U.S. Consumer Product Safety Commission (CPSC) considers, approves, and certifies bikes that meet this definition for manufacture and sale at the federal level. Hence, regulations such as these regulate the electric bike and scooter market. In March 2019, German automotive and industrial supplier Schaeffler acquired Elmotec Statomat GmbH for an undisclosed amount. Through this acquisition, Schaeffler aims to develop and advance more quickly and efficiently in the electric motor construction business and, at the same time, boost its e-mobility strategy. Elmotec Statomat GmbH is involved in the fields of electric motor construction and winding technology. It was founded in 1998 and is headquartered in Karben, Germany. Major players in the electric bikes and scooters market are Yadea, Jiangsu Xinri E-Vehicle Co. Ltd., Mahindra & Mahindra Ltd., BMW, Hero Electric, Yamaha, Sunra, Vmoto Limited, AIMA Technology Co. Ltd, Zhejiang Luyuan Electric Vehicle Co. Ltd., Terra Motors Group, Prodeco Technologies Llc. Asia Pacific was the largest region in the electric bikes and scooters market in 2021. This region is expected to remain the largest during the next five years. The regions covered in the electric bikes and scooters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric bikes and scooters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The global electric bikes and scooters market is segmented - 1) By Product: Electric Bikes, Electric Scooters 2) By Battery: Lead-acid, Lithium-ion (Li-ion), Nickel-metal hydride (NiMh), Others 3) By Voltage Capacity: 48-59V, 60-72V, 73-96V, Above 96V 4) By Drive Mechanism: Hub Motor, Mid Drive, Others

The electric car market consists of electric car sales and services related to them. An electric car is an electric vehicle that runs on a chargeable battery such as a Nickel-Metal Hydride (NI-MH) battery, Lithium-ion battery, or fuel cell battery. The main types in the electric car market are battery electric vehicles (BEV), plug-in hybrid electric vehicles (PHEV), and hybrid electric vehicles (HEV). Battery electric vehicles operate only on stored electricity, and their main components consist of a high-voltage battery, one or more electric motors (either alternating current [AC] or direct current [DC]), and a controller for managing the power electronics. The battery types involved are lithium-iron-phosphate (left), lithium–nickel–manganese cobalt oxide (li–nmc), lithium–titanate oxide (to) battery, lithium–nickel–cobalt–aluminum oxide (NCA) battery, nickel-metal hydride (NIMH) battery, lead-acid battery. The applications involved are home use and commercial use. The electric car market research report is one of a series of new reports from The Business Research Company that provides electric car market statistics, including electric car industry global market size, regional shares, competitors with an electric car market share, detailed electric car market segments, market trends and opportunities, and any further data you may need to thrive in the electric car industry. This electric car market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global electric cars market grew from $212.46 billion in 2021 to $278.75 billion in 2022 at a compound annual growth rate (CAGR) of 31.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The electric cars market is expected to grow to $825.95 billion in 2016 at a CAGR of 31.2%. The growing demand for electric vehicles is driving the electric car market. Electric cars are one of the fastest-growing segments of the electric vehicle market. According to the InsideEVs report (Electric vehicle world sales database), in 2019, nearly 2.2 million electric vehicles were sold globally. According to Forbes, electric vehicles (EVs) will surge to 57%, which is more than half of global passenger car sales by 2040. The major companies in the automobile industry, such as Tesla, BMW, Volkswagen, and others, are expected to release around 200 models of electric vehicles. Electric vehicles don’t use fuel or gas, and they are more economical than other vehicles. The demand for an electric vehicle is growing because of its low maintenance, less carbon emissions, convenient charging, less noise from the engine, and higher fuel costs. The lack of standardisation of charging infrastructure is slowing down the electric car market. The charging infrastructure is a charging point for battery electric vehicles (BEV), plug-in hybrid electric vehicles (PHEV), hybrid electric vehicles (HEV), and fuel cell electric vehicles (FCEV) available in every region. According to McKinsey’s report, there will be an estimated 120 million electric vehicle units on the road by 2030. The demand for electric vehicles is rising due to environmental concerns and health hazards. The sudden shift to electric vehicles in many regions has led to a lack of charging infrastructure. In India, Tesla, Mahindra, Audi, and other international OEMs are expected to launch 10 new electric vehicle models by 2021. However, many countries don’t have proper charging infrastructure for electric vehicles due to higher up-front capital, higher operating costs, and low utilisation of electric vehicles. This factor is likely to challenge the growth of this market. The development of wireless charging facilities for electric vehicles is the greatest opportunity for both OEMs and end-users. Wireless charging enables charging of an electric vehicle without any inconvenience of finding the right cable connector at the charging point and/or stopping by at any charging station. Wireless charging uses dynamic and inductive charging technologies where the electricity is transferred from one magnetic coil in the charger to a second magnetic coil connected to a car. Because OEMs and technology companies discovered that a wireless charging system is far more convenient than a plug-in system for charging an electric vehicle. Qualcomm's technologies are continuously working on its wireless charging system called Qualcomm Halo that uses dynamic technology that helps to charge the electric vehicle while driving. Therefore, the wireless charging system has huge scope in the future to electrify vehicles all over the world. In February 2019, Tesla, Inc., an American electric vehicle and clean energy company based in Palo Alto (California), acquired Maxwell Technologies, an energy storage company, for a deal of $218 million. Maxwell Technologies produces ultracapacitors, an energy storage device or battery that is used in electric vehicles. The acquisition helped Tesla get Maxwell’s dry electrode technology, which is mainly used to produce ultracapacitors. These dry electrode technology ultracapacitors are used in electric vehicles to boost performance and are also more cost-effective than other technologies. Major players in the electric cars market are Toyota, BMW, BYD, Tesla, BMW, Volkswagen, General Motors, BAiC Motors, SAIC, and Daimler AG. Asia Pacific was the largest region in the electric cars market in 2021. Western Europe was the second largest market in electric cars market. The regions covered in the electric car market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric cars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The global electric cars market is segmented - 1) By Type: Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV) 2) By Battery Type: Lithium-Iron-Phosphate (LFP), Lithium–Nickel–Manganese Cobalt Oxide (Li-NMC), Lithium–Titanate oxide (LTO) battery, Lithium–Nickel–Cobalt–Aluminum oxide (NCA) battery, Nickel–metal hydride (NiMH) battery, Lead Scid Battery 3) By Application: Home Use, Commercial Use

The electric locomotive market consists of sales of electric locomotives which provide motive power to trains with no payload capacity, and their only use is to pull trains along the tracks. The sales consist of revenues generated by establishments that are primarily engaged in the manufacturing of locomotives and their components, such as electric motors, transformers, inverters, and compressors. The main types of energy transfer in electric locomotives are overhead lines, third rail, and onboard energy storage. Overhead lines are a wire or cable suspended between poles that is used to distribute power or signals. The technologies involved are technology, IGBT module, GTO thyristor, and sic module. The traction units involved are ac traction units, DC traction units, and multi-system units. The application involved passenger transport and freight transport. The electric locomotives market research report is one of a series of new reports from The Business Research Company that provides electric locomotives market statistics, including electric locomotives industry global market size, regional shares, competitors with an electric locomotives market share, detailed electric locomotives market segments, market trends and opportunities, and any further data you may need to thrive in the electric locomotives industry. This electric locomotive market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global electric locomotive market is expected to grow from $1.47 billion in 2021 to $1.67 billion in 2022 at a compound annual growth rate (CAGR) of 13.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The electric locomotive market is expected to grow to $2.73 billion in 2026 at a CAGR of 13.2%. Increasing preference for non-polluting and energy-efficient transport is contributing to the growth of the electric locomotive market. According to the UK Department of Transport, besides highly efficient electric motors in electric locomotives that regularly have an efficiency of around 90% due to advancements such as regenerative braking, which can recover energy from braking, they emit 20%–35% less carbon per passenger mile than those enabled by diesel, which helps in a reduction in carbon emissions. Concerns regarding a greener environment have resulted in increasing demand for non-polluting and energy-efficient transport systems, thereby driving the electric locomotive market. Regular maintenance of the rolling stock is required to ensure its safety, which is very expensive, impacting the growth of the market. For example, the annual maintenance cost of the high-speed trainset is approximately $1 million. In addition to the cost of components that need to be replaced periodically, proper maintenance is needed for facilities such as stations and berthing sites. Moreover, rolling stock requires long-term maintenance once the train has reached half of its operating life. This involves maintenance work on electrical, mechanical, and hydraulic parts of the vehicle. A large investment is needed for such maintenance. For example, the overhaul and electrification project of the around 100 km Nis-Dimitrovgrad railway line (Serbia) is estimated to cost around $306 million, and a Memorandum of Understanding (MoU) was signed with CRBC (China) for the overhaul of the Belgrade-Nis railway line for $701 million. Therefore, the expensive maintenance and overhaul that is needed regularly will hamper the growth of the electric locomotive market. The emergence of dual-mode locomotive electric trains will be one of the major trends that will gain traction in the electric locomotive market in the forecast period. In November 2019, Rail Systems RP GmbH and Siemens Mobility signed a contract for the supply of two Vectron Dual Mode locomotives that can be operated either as diesel or electric units. On electrified routes, the Vectron Dual Mode is powered by electricity to save fuel and reduce maintenance costs. Due to their reduced dependence on petrol, the coming years will witness an increased preference for dual-mode trains, which will be one of the major factors propelling the growth of this market. In February 2020, Alstom announced plans to acquire Bombardier Transportation for a price between EUR 5.8 billion and EUR 6.2 billion, which will be paid by cash and new Alstom shares. This acquisition will increase Alstom's global reach and its ability to respond to the ever-increasing need for sustainable mobility. Bombardier Transportation will bring to Alstom a complementary geographical presence and an industrial footprint in growing markets, as well as additional technological platforms. It will significantly increase innovation capabilities and lead to smart and green innovation. Bombardier Transportation is a Canadian multinational company that manufactures business jets and trains. Major players in the electric locomotives market are CRRC Corporation Limited, Bombardier Inc, Alstom SA, Siemens AG, Kawasaki Heavy Industries Ltd, General Electric Company, Transmashholding AG, Stadler Rail AG, Hitachi Ltd, and AEG Power Solutions. Western Europe was the largest region in the electric locomotives market in 2021. Asia Pacific was the second largest region in the electric locomotives market. The regions covered in the electric locomotives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric locomotives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The global electric locomotives market is segmented - 1) By Energy Transfer: Overhead Lines, Third Rail, On-board Energy Storage 2) By Technology: IGBT Module, GTO Thyristor, SiC Module 3) By Traction Units: AC Traction Units, DC Traction Units, Multi System Units 4) By Application: Passenger Transport, Freight Transport

The electric vehicle charging stations market consist of sales of electric vehicle charging services. Electric vehicle charging stations provides charging facility to electric vehicles through alternating current (AC) and direct current (DC) charging. AC charging station consists of level 1 and level 2 charging. Level 1 charging station uses 120V AC current, level 2 charging station uses 240V AC current to charge the vehicles. Whereas, the DC charging station, also known as Level 3 charging station, uses 480V DC current to charge EVs. The main types of installations in electric vehicle charging stations are home charging system and commercial charging system. Home chargers are typically employed with 230V/15A single phase plugs capable of producing up to 2.5 KW of output power. The different connector types include CHAdeMO, CCS, GB/T, tesla supercharger, others and has various charging modes such as plug in charging system, wireless charging system. The several charging stations include AC charging station and DC charging station. The global electric vehicle charging stations market size is expected to grow from $4.03 billion in 2021 to $5.40 billion in 2022 at a compound annual growth rate (CAGR) of 34.1%. The growth in the electric vehicle charging stations market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The electric vehicle charging stations market is expected to reach $17.85 billion in 2026 at a CAGR of 34.9%. Increasing tax incentives and subsidies given to local automakers to produce electric vehicles is driving the demand for electric vehicle charging stations market. Tax incentives and subsidies to the electric vehicle makers is encouraging auto makers to make more Electric vehicle which will generate more demand for EV charging stations. China's subsidy policy caused 53% increase in the manufacture and sale of electric vehicles in the country. Electric vehicles sales in China was almost four times the numbers sold in the USA, the growth in sales in China is majorly attributed to the subsidy policies and tax incentives given by the Chinese government. The limited range of electric vehicles is hindering the electric vehicle charging stations market growth. Electric vehicles have a limited range as compared to the traditional internal combustion engine vehicles as due to its limited battery capacity. The electric vehicles can’t be used in case of long-distance travel, this causes the slow growth of the electric vehicles. According to a survey conducted by BBC, involves a sample of 10,293 drivers out of which 76% of the drivers said that in a single charge electric vehicle can't travel long distances. Companies in the industry are increasingly offering ultra-quick charging capabilities of the direct current (DC) to aid performance optimization and ultra-fast-charge. The ultra-quick charging technologies of the direct current are used in electric vehicle charging stations to transfer current to electric vehicles through DC. DC fast charging or level 3 charging is capable of charging 80% of the electric vehicle battery within 20 minutes. DC fast charging stations with ultra-quick technology provide high-power DC current up to 120 kW directly into vehicle’s battery without passing through any onboard AC/DC converter. The necessary conversion from AC to DC by a convertor done in case of AC charging process can be eliminated. In March 2019, Tesla an American automotive and energy company, launched the next generation super charger V3 with a higher charging capacity (250kW). Greenlots, an electric transportation company, has set plans to deploy 9 DC Fast charging stations across Central Washington. Electrify America, an electric vehicle charging network company, installed its first DC Faster charger at Massachusetts, USA and is planning to invest $500 million to outfit the electric charging stations in 484 locations with 2000 DC fast chargers. In August 2021, ChargePoint Inc., a US based electric vehicle infrastructure company acquired ViriCiti BV for $88 million (€75 million) in cash. The acquisition of ViriCiti will provide the firm with access to a much broader software feature set for users, including battery health monitoring, vehicle operations data, and enhanced vehicle telematics possibilities, in addition to ChargePoint’s core offerings of charger management and vehicle charger scheduling. ViriCiti BV is a Netherlands based company that provides electric vehicle charging solution. In March 2020, ABB, a Switzerland based automation company acquired Shanghai Chargedot New Energy Technology Co., Ltd. for an undisclosed amount. The acquisition is expected to further strengthen ABB's relationship with leading Chinese electric vehicle manufacturers and broaden the company’s e-mobility portfolio with hardware and software developed specifically for local requirements as well as service offerings. Shanghai Chargedot New Energy Technology Co., Ltd., a Chinese e-mobility solution provider, the company supplies AC and DC charging stations, as well as the necessary software platform to a range of customers that includes EV manufacturers. Major players in the electric vehicle charging stations market are Tesla, Chargepoint, Siemens, ClipperCreek, Schneider electric, Eaton, GE, ABB, Aerovironment, SemaConnect, Robert Bosch GmbH, ECOtality, Engie, BP, Shell, Electromotive, Chargemaster, Evgo, EVBox, G2Mobility, Leviton, Delta ElectronicsInc, Evatran group Inc, Tgood, Delphi automotive LLP, Webasto Group, Alfen, Allego, Blink Charging and Efacec. The regions covered in the electric vehicle charging stations market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the electric vehicle charging stations market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global electric vehicle charging stations market is segmented - 1) By Installation Type: Home Charging System, Commercial Charging System 2) By Connector Type: CHAdeMO, CCS, GB/T, Tesla Supercharger, Others 3) By Mode of Charging: Plug In Charging System, Wireless Charging System 4) By Charging Station: AC Charging Station, DC Charging Station

The electric vehicle (EV) batteries market consists of sales of electric vehicles batteries. Electric vehicles batteries are used to power the electronic vehicles and are rechargeable in nature. These batteries support the clean energy initiative as they don’t emit any harmful gases which causes damage to the environment. The main types of battery used in electric vehicles are lithium-ion, lead-acid, nickel-metal hydride, sodium-ion and others. The lithium-ion are used in electric vehicles for safer and more stable movement than liquid li-ion batteries. The electric vehicles batteries are used two types of vehicles such as passenger and commercial vehicles and available in two types of propulsion such as battery electric vehicle and plug-in hybrid electric vehicle. The global electric vehicle (EV) batteries market size is expected grow from $23.74 billion in 2021 to $25.43 billion in 2022 at a compound annual growth rate (CAGR) of 7.1%. The growth in the electric vehicle (EV) batteries market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The electric vehicle (EV) batteries market is expected to reach $33.26 billion in 2026 at a CAGR of 6.9%. Advances in electric vehicles (EV) batteries and their associated technologies are attracting the interests of individuals to purchase EVs, contributing to the growth of the electric vehicle (EV) batteries market. Recent advancements such as lithium-ion batteries, fast charging, and better mileage have helped the electric cars become more passenger-friendly. According to the United States Department of Energy, the range of average electric car have increased from 73 miles in 2011 to 400 miles in 2021. Moreover, the technological developments are contributing to reduced prices of the electronic batteries. According to the Bloomberg report, battery prices that were above USD 1,100 in 2010 have fallen by 87% to $156 per kilowatt-hour in 2019 and is likely to decline to $100 per kilowatt-hour by the end of 2023. Therefore, the advances in electronic battery and its associated technologies increase the vehicles mileage and draws more customers driving the electric vehicle (EV) batteries market. The extraction of raw materials like lithium cobalt used in the electric vehicle battery has a harmful effect on the environment and governments impose restriction on mining the raw materials, hindering the growth of the electric vehicle (EV) batteries market. The extraction process of one ton of lithium requires 50,000 gallons of water. Lithium mining has resulted in consumption of 65% water of the Salar de Atacama region, Chile, which has led to water shortages in Chile, South America along with severe toxic spills. As the demand upsurges, the mining activity also rises with increasing damage to the environment and will force the governments to enforce stringent regulation to curb the negative effects which would increase the production cost. Therefore, the harmful effect of electric vehicle batteries on the environment is expected to be a hindrance to the electric vehicle battery market over the coming years. The charging of Electric vehicle batteries using Vehicle to grid technology is expected to gain traction in EV batteries Market. Vehicle to grid technology is a Bi-directional charging system technology in which plug-in electric vehicles like battery electric vehicles (BEV), plug-in hybrids (PHEV) or hydrogen fuel cell electric vehicles (FCEV) batteries’ can communicate with the power grid for either returning electricity to the grid, to homes during the peak times or increase their charging rate to discharge and charge the battery accordingly. For instance, in January 2021, FCA along with Engie EPS and Terna has launched the first phase of a vehicle-to-grid (V2G) pilot project in Turin, Italy, to test potential connections of the company’s vehicles to the grid. Thus, Vehicle to grid technology is anticipated to be a major trend in the electric vehicle (EV) batteries market. In May 2019, Tesla, the American based clean energy and electric vehicle company have acquired San-Diego based batteries and ultra-capacitor maker Maxwell technologies for $235.0 million. This Deal gives Tesla access to the patented technology of Maxwell - the dry cathode technology, which would allow Tesla to develop its own set of battery cells with high density and durability. Maxwell technologies are considered to be the pioneers in the area of super capacitors, their dry battery electrode technology is projected to improve the battery energy capacity by 50.0%, which in effect will double the battery life. Major players in the electric vehicle (EV) batteries market are Panasonic Corporation, Mitsubishi Motors Corporation, Beijing Pride New Energy Battery Technology Co. Ltd, Automotive Energy Supply Corporation, BYD Company Ltd, Daimler AG, Robert Bosch GmbH, SAMSUNG SDI CO, Tianneng Power International Co. Ltd, and Johnson Controls. Asia Pacific was the largest region in the electric vehicle (EV) batteries market in 2021. Western Europe was the second-largest region in the electric vehicle (EV) batteries market. The regions covered in the EV batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the electric vehicle (EV) batteries market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global electric vehicle (EV) batteries market is segmented - 1) By Battery Type: Lithium-Ion, Lead-Acid, Nickel-Metal Hydride, Sodium-Ion, Others 2) By Vehicle Type: Passenger Vehicles, Commercial Vehicles 3) By Propulsion: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV)

The electric vehicle charger market consists of sales of electric vehicle chargers that deliver energy to the vehicle battery system per unit of time. The electric vehicle charger is a part of electric vehicle supply equipment that provides electrical power to plug-in electric automobiles. Electric vehicle charging is divided into four stages, with Level 4 being the fastest. The main types of vehicles in electric vehicle chargers are battery electric vehicles (BEV), plug-in hybrid electric vehicles (PHEV) and hybrid electric vehicles (HEV). Battery electric vehicles employ an electric motor instead of an internal combustion engine. Battery electric vehicles use a traction battery pack to power the electric motor that needs to be plugged into the charging outlet. The different charging types include on-board chargers, off-board chargers and are used in various end-use sectors such as residential and commercial end-users. The global electric vehicle charger market size is expected to grow from $3.94 billion in 2021 to $5.19 billion in 2022 at a compound annual growth rate (CAGR) of 32.0%. The change in the electric vehicle charger market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The electric vehicle charger market is expected to reach $13.36 billion in 2026 at a CAGR of 26.6%. The increasing stringent regulations by the governments to limit environmental pollution are contributing to the growth of the electric vehicle charger market. Many governments have implemented stringent government regulations to limit harmful vehicular emissions, making it vital for vehicle manufacturers to shift to advanced technologies that reduce vehicle emission levels. For instance, the California Air Resources Board passed new laws in 2020 that require truck manufacturers to switch to electric zero-emission trucks by 2024, and Governor Brown signed an MOU with 14 other states to develop and expedite the market for electric medium- and heavy-duty vehicles. Therefore, the rising stringent regulations by the governments are projected to drive the growth of the electric vehicle charger market in the coming years. The growing technological advancements are shaping the electric vehicle charger market. Major companies operating in the electric vehicle charger sector are focused on developing technological solutions for electric vehicle chargers to reduce carbon emissions and meet customer demand. For instance, in April 2021, Envision Group, a China-based green technology company introduced Mochi charging robot which is 100% powered by green electricity. Mochi is a small, flexible robot with accurate location-sensing technology that allows it to navigate with centimeter-level precision. Mochi can be installed in a variety of settings and can automatically locate and charge electric vehicles, saving drivers time and effort. Mochi will give a versatile solution to help accommodate the growing demand for charging stations as more EVs hit the road. In March 2021, Eaton Corporation, a US-based power management company acquired Green Motion SA for an undisclosed amount. Through this acquisition, Eaton Corporation expands its electric vehicle charging capabilities. Green Motion SA is a Switzerland-based company that manufactures electric vehicle charging hardware and related software. Major players in the electric vehicle charger market are ABB Ltd., AeroVironment Inc., ChargePoint Inc., BP Chargemaster, Evatran Group Inc., Leviton, Webasto SE, Eaton, Schneider Electric, and Siemens Asia Pacific was the largest region in the electric vehicle charger market in 2021. The regions covered in the electric vehicle charger market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the electric vehicle charger market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global electric vehicle charger market is segmented - 1) By Vehicle Type: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV) 2) By Charging Type: On-Board Chargers, Off-Board Chargers 3) By End-User: Residential, Commercial

The electric vehicle charging stations equipment market consist of sales of the equipment required in the setup of electric vehicle charging stations. These electric vehicle charging stations are used to recharge the vehicles by connecting to the electricity source. The type of electric vehicle charging stations equipment are AC charging, DC charging, inductive charging that are used in different vehicle type such as battery electric vehicles (BEV), plug-in electric vehicles (PHEV), hybrid electric vehicles (HEV). The AC charging converts power from AC to DC and then feeds it into the car’s battery. Different type of charging in electric vehicle charging stations equipment are level one charging (120 volts), level two charging (240 volts) and DC fast charging (480 volts). The global electric vehicle charging stations equipment market size is expected to grow from $99.71 billion in 2021 to $140.71 billion in 2022 at a compound annual growth rate (CAGR) of 41.1%. The growth in the electric vehicle charging stations equipment market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The EV electric vehicle charging stations equipment market is expected to reach $485.92 billion in 2026 at a CAGR of 36.3%. National and international legislatives policies for promoting the electric vehicle (EV) is driving the growth of the electric vehicle electric vehicle charging stations equipment market. The scheme to provide incentives to motivate investors in buying electric vehicles and installing the EV charging stations help in driving the electric vehicle charging stations market. Thus, help in boosting the electric vehicle charging stations equipment market. For example, an attractive scheme was launched by German government to provide a direct discount of $4,520 for EV buyers. Also, public funding for charging stations for every 50 km is provided in Norway. Thus, driving the EV charging stations market, thereby driving the electric vehicle charging stations equipment market. The limited driving range of electric vehicles (EV) is one of the major factors restraining the electric vehicle charging stations equipment market thereby affecting the growth of the electric vehicle charging stations equipment market. The driving range of EV is shorter than the gasoline vehicles. This limitation is due to various factors such as passenger capacity, use of air conditioning and the need of margin to be retained before the next recharge. Thus, affecting the sales of EV which is thereby decreasing the need for setting up more charging power stations and the requirement for the EV charging stations equipment falls, therefore restraining the electric vehicle charging stations equipment market growth. Ultra-quick DC charge stations is trending in the electric vehicle charging stations equipment market. Ultra-quick DC charge helps in supplying direct power of up to 125 KW to vehicle without any converter. These ultra-quick DC charge stations have the capability to charge 80% of the electric supply required for vehicle within 20 min time span. With the increasing demand for EV the need for more charging stations is increasing. In order to cope with the demand and availability of low energy charging points and to deal with new upcoming EV that requires high power rates for charging, the ultra-quick DC charge station is the solution. There are 3 types of DC fast charging options such as Combined Charging System (CCS), CHAdeMO and Tesla Supercharger. For example, in 2021, Electrify America opens 600 public ultra-fast electric vehicle charging stations across United States. In February 2019, Tesla, Inc., an American automotive and energy company acquired Maxwell Technologies, Inc. for $218 million. This acquisition, is expected to boost the market for Tesla and help in improve its batteries and lower costs, to be ahead of the new players entering the market. Maxwell Technologies, Inc., an American energy storage and manufacturing company. Major players in the electric vehicle charging stations equipment market are ABB Ltd, Siemens AG, The New Motion BV, Tesla Motors Inc., ClipperCreekInc., DBT SA, Chargemaster Plc, Engie SA, Fortum Oyj, and Leviton Manufacturing Co. The regions covered in the electric vehicle charging stations equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the electric vehicle charging station equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global electric vehicle charging stations equipment market is segmented - 1) By Type: AC Charging, DC Charging, Inductive Charging 2) By Vehicle Type: Battery Electric Vehicles (BEV), Plug-In Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV) 3) By Charging Type: Level One Charging (120 Volts), Level Two Charging (240 Volts), DC Fast Charging (480 Volts)