Global Electric Bikes and Scooters Market

The passenger electric vehicle market consists of sales of passenger electric vehicles. Passenger electric vehicles use electric motors in the vehicles rather than gasoline-powered drivetrains for running. Passenger electric vehicles are powered by electricity from charging stations or by self-charging devices like turbochargers. Some examples of the vehicles covered under this market include Kia Soul EV, BMW i3, Volkswagen e-Golf, Tesla Model 3, and Tesla Model S. The main types in the passenger electric vehicle market are battery electric vehicles, hybrid electric vehicles, plug-in hybrid electric vehicles. 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 vehicle types involved are sedan, hatchback, SUV. The charging infrastructure involved is normal charging, high power charging. The global passenger electric vehicles market size is expected to grow from $77.96 billion in 2021 to $102.17 billion in 2022 at a compound annual growth rate (CAGR) of 31.1%. The global passenger electric vehicle market size is expected to grow to $213.87 billion in 2026 at a CAGR of 20.3%. The rising concerns towards the environmental factors including global warming and climate change, are increasing the demand for electric vehicles and subsequently driving the passenger electric vehicles market. Due to rising environmental concerns, more people have been shifting to alternate modes of transport which cause less pollution, this has resulted in a substantial increase in the purchase of electric vehicles across the globe. Electric vehicles are one of the most sustainable modes of transportation as they do not emit climate-damaging greenhouse gases or health-harming nitrogen oxide. They are also relatively quieter and easier to operate. For instance, according to data by UNICEF, according to the Intergovernmental Panel on Climate Change (IPCC), the level of carbon dioxide in the atmosphere will be cut by 45 percent by 2030 to prevent global warming above 1.5oC and the threshold at which the worst impacts of climate change could be averted. These factors are expected to boost the demand for electric vehicles and drive the market going forward. Battery capacity and drainage challenges are significant challenges that are restraining the growth of the passenger electric vehicle market. The capacity of lithium-ion batteries, which are generally used in electric cars, decreases with the increase in the number of cycles of charging and discharging. An electronic vehicle's battery can be damaged due to high temperatures, overcharging, low voltages, and high charge current. There is also a risk of battery drainage while in the middle of the journey which would leave the driver with no other alternative source of fuel or power where there is no electric charging station. For example, a report published in Economic Times (Auto) suggested that the electric cars made by Mahindra performed poorly, and its battery capacity not being up to the required levels. The models tested could not even run 80-82 km on a single charge. These issues with batteries are limiting the use of electric vehicles, thus restraining the growth of the market. Companies in the passenger electric vehicles market are focusing on the development of technologies to increase the range of the vehicles. In 2019, automobile manufacturers have increased the battery range of their electric models with an average of 38 miles upgrade, which is equivalent to a cumulative 15% increase on average every year. Other developments include fluoride-ion batteries which have higher performance compared to currently used lithium-ion batteries. The fluoride-ion batteries have greater energy density and are more eco-friendly than the current lithium-ion technology. With this new battery technology, an EV could go further on a pack of the same physical size or the same distance with a physically smaller battery pack, thus improving the range of the vehicles. Automaker Honda has already invested in the same and is working along with CalTech and NASA's Jet Propulsion Laboratory on this technology. The passenger electric vehicles market in Europe is governed by WP.29 of the UNECE (United Nations Economic Commission for Europe) Vehicle Regulations, which contributes to mobility electrification. WP. 29 specifies certain regulations that are required for assessing electric vehicles before commercializing them. This assessment is done in respect of safety standards and environmental performance of Electric vehicles, Hybrid Electric Vehicles, and Fuel Cells Vehicles. This regulation also covers the risks relating to electric shocks and fire explosions due to the battery. Various testing procedures are undertaken by the concerned regulatory bodies, to evaluate the environmental efficiency of these vehicles. In April 2019 Ford Motors acquired Rivian in a deal valued at $500 Million. Rivian is an electric vehicle manufacturer and automotive technology company, founded in the year 2009 and is headquartered in Plymouth, Michigan, US. The acquisition was done to utilize Rivian's battery architecture, skateboard, to build a new electric vehicle. This investment was done by Ford to build a comprehensive Electronic Vehicle product portfolio and facilitate more electrification into the business. Major players in the passenger electric vehicles market are Tesla Motors Inc., BMW AG, Nissan Motor Corporation, Ford Motor Company and Toyota Motor Corporation, Tesla Motors, Inc., BMW AG, Nissan Motor Corporation, Ford Motor Company, Toyota Motor Corporation, Volkswagen AG, General Motors Company, Daimler AG, and Mitsubishi Motors Corporation. Asia Pacific was the largest region in the passenger electric vehicles market in 2021. This region is expected to remain the largest during the next five years. The regions covered in the global passenger EV market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the passenger electric vehicles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The global passenger car market is segmented - 1) By Type: Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle 2) By Vehicle Type: Sedan, Hatchback, SUV 3) By Charging Infrastructure: Normal Charging, High Power Charging

The electric car market consists of electric car sales and services related to it. An electric car is an electric vehicle that runs by a chargeable battery such as Nickel-Metal Hydride (Ni-MH) Battery, Lithium-ion Battery, Fuel Cell Battery. The main types in the electric cars market are battery electric vehicles (BEV), plug-in hybrid electric vehicles (PHEV), 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 (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-acid battery. The applications involved are home use, commercial use. The global electric cars market size is expected to grow from $212.46 billion in 2021 to $278.75 billion in 2022 at a compound annual growth rate (CAGR) of 31.2%. The global electric cars market is then expected to grow to $825.95 billion in 2026 at a CAGR of 31.2%. The growing demand for electric vehicles is driving the electric cars market. Electric cars are one of the fastest-growing segments in the electric vehicles 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 emission, convenient charging, less noise from the engine, higher fuel costs. Lack of standardization of charging infrastructure is slowing down the electric cars market. The charging infrastructure is a charging point for Battery Electric Vehicles (BEV), Plug-in Hybrid Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV), 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 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 leads to a lack of charging infrastructure. Tesla, Mahindra, Audi, and other international OEMs are expected to launch 10 new electric vehicle models in 2021 in India. However, many countries don’t have proper charging infrastructure for electric vehicles due to higher up-front capital, higher operating costs, and currently low utilization 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. Tesla, BMW, Rolls Royce, Volkswagen, Nissan, etc. are working on wireless charging system cars because the OEMs and technology companies figured out that it is much easier to charge an electric vehicle by wireless charging system than a plug-in system. Qualcomm's technologies, continuously working on its wireless charging system called Qualcomm Halo that uses dynamic technology which helps to charge the electric vehicle while driving. Therefore the wireless charging system has a 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 produce ultracapacitors an energy storage device or battery that is used in electric vehicles. The acquisition helped Tesla to 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 the global electric cars market. The regions covered in the global 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 Acid Battery 3) By Application: Home Use, Commercial Use

The electric locomotives 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 transfers in electric locomotives are overhead lines, third rail, 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, sic module. The traction units involved are ac traction units, dc traction units, multi-system units. The application involved passenger transport, freight transport. The global electric locomotives market size 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 global electric locomotive market size 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 locomotives market. According to the UK Department of Transport, besides highly efficient electric motors in electric locomotives that regularly have the efficiency of around 90% due to the 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 and helps in reduction in carbon emissions. Concerns regarding a greener environment resulted in increasing demand for non-polluting and energy-efficient transport systems, thereby driving the electric locomotives 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 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 locomotives 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 acquired 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 improve Alstom's global reach and the 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 to lead to smart and green innovation. Bombardier Transportation is a Canadian multinational company that manufactures business jets and rail. 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 global electric locomotives market. The regions covered in the global electric locomotive 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 commercial electric vehicles market consists of sales of commercial electric vehicles. The commercial electric vehicles manufactured include Battery Electric Vehicles (BEV), Hybrid Electric Vehicles, and Plug-in Hybrid Electric Vehicles (PHEV). The main technologies in commercial electric vehicles are battery electric vehicles, hybrid electric vehicles, plug-in hybrid electric vehicles. 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 vehicle types involved are bus, truck, pick-up truck, van. The charging infrastructure involved is pantograph, plug-in, inductive. The global commercial electric vehicles market size is expected to grow from $68.43 billion in 2021 to $101.44 billion in 2022 at a compound annual growth rate (CAGR) of 48.2%. The global commercial electric vehicle market size is expected to grow to $303.15 billion in 2026 at a CAGR of 31.5%. Government subsidies to consumers and manufacturers help in the adoption of electric vehicles. The adoption of electric vehicles has been identified as an effective method to reduce carbon emissions and dependency on fossil fuels. So the governments of many countries are providing direct subsidies to both the buyers and manufacturers to increase the adoption rate of electric vehicles. For example. In March 2019, the Indian government under the Faster Adoption and Manufacturing of Electric Vehicles (FAME-II) scheme announced an outlay for 1434.45 million USD (10,000 crores) to promote the use of electric vehicles and hybrid vehicles. The scheme had 213.6 million USD (1,500 crores) outlay in 2019-20; 716.7 million USD (5,000 crores) in 2020-21 and 501.69 USD (3,500 crores) in 2021-22 and will cover buses with Electric Vehicle (EV) technology; electric, plug-in hybrid and strong hybrid four-wheelers; electric three-wheelers including e-rickshaws and electric two-wheelers. The difference in vehicle performance acts as a restraint to the growth of the commercial electric vehicle market. Electric vehicles provide excellent torque at low speed but at higher speeds the performance drops. The range of current battery electric vehicles (BEVs) is typically between 50 to 100 miles. For example, the Nissan LEAF electric vehicle has high torque, 236 lb-ft, but relatively low power at 147 HP. On the other hand, the conventional fuel car Honda S2000 has a decent power of 256 who. Technological advances to improve charging speed and enhance battery design make the latest trend in the commercial electric vehicles market. Manufacturers are looking at solid-state batteries which use graphene as the potential solution and are expected to increase both range and the charging speed of the batteries of the electric vehicle. Apart from the improvements in battery design and charging speed, there will be a significant shift toward diversifying the sources of power for EVs. Solar panels have already become much more efficient at capturing the sun’s energy. With the recent development of three-phase charges, the most modern electric vehicle can charge up to 80% in just 30 minutes. For instance, Earthday, a Catalan startup, introduced fast-charging graphene-based batteries that weigh only 55 Kgs and use a paste-like electrolyte based on graphene. Earthday claims that the graphene-based battery charges up to 1350 times faster than normal batteries based on lithium technologies. In Europe, the parliament mandates the installation of appropriate vehicle alerting systems in electric vehicles. Electric cars and plug-in hybrid cars such as the all-electric BMWi3 or the Toyota Prius currently emit very little sound when running on electric power only. Campaigners say this is dangerous for partially sighted and blind people. Keeping this in mind, liberal democrat MEPs introduced an amendment that makes it mandatory to install a vehicle alerting system in electric vehicles. In June 2021, Ashok Leyland, a company manufacturing automotive-based in India acquired Switch Mobility Automotive for an undisclosed amount. With this acquisition, Ashok Leyland expands its portfolio in commercial electric vehicles and the investment and acquired the entire shares of the switch mobility automotive company. Switch Mobility Automotive, is a company operating in commercial electric vehicles based in the UK. Major players in the commercial electric vehicle market are Tesla, Nissan, BMW, Chevrolet, Ford, Volkswagen, Kia Motors, Audi, BYD, and Daimler. The regions covered in the global commercial EV market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the commercial electric vehicles market report are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA and Australia. The global commercial electric vehicles market is segmented - 1) By Technology: Battery Electric Vehicles, Hybrid Electric Vehicles, Plug-In Hybrid Electric Vehicles 2) By Vehicle: Bus, Truck, Pick-Up Truck, Van 3) By Charging Infrastructure: Pantograph, Plug-In, Inductive

The electric vehicle fluids market consists of sales of electric vehicle fluids by entities (organizations, sole traders, and partnerships) that aid in the reduction of energy losses in the drivetrain system and the enhancement of EV Transmission efficiency. Electric vehicle fluids offer insulation to stop any arcing due to close contact with the electrical components of the vehicle. They help in cooling e-motors and gears and provide insulation to electric current, along with extending the lifetime of each electric motor part, and the mileage of EVs by improving machine efficiency. The main type of products includes engine oils, coolants, transmission fluids, and greases. Engine oils are used in keeping the engine cool and ensuring that the piston rings in the IC engine are sealed properly. The different vehicle types include passenger vehicles commercial vehicles and involve various EV types such as BEV, PHEV, HEV. It is used in the driveline, battery coolant, and grease. The global electric vehicle fluids market size is expected to grow from $1.04 billion in 2021 to $1.32 billion in 2022 at a compound annual growth rate (CAGR) of 27.1%. The change in the electric vehicle fluids 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. The electric vehicle fluids market is expected to reach $3.39 billion in 2026 at a CAGR of 26.5%. Increasing demand for electric vehicles is expected to propel the growth of the electric vehicle fluids market. An electric vehicle (EV) is a vehicle that runs entirely or partially on electricity and stores the electrical energy that drives the motor in a battery pack. The increase in electric vehicle manufacturing and sales drives the demand for electric vehicle fluids because fluid is the key part of a vehicle that enhances fuel efficiency and assist to reduce carbon footprints in vehicles. For instance, according to the International Energy Agency, in 2020 the global electric car stock hit the 10 million mark, a 43% increase over 2019. Also, according to Bloomberg New Energy Finance (BNEF), EVs are expected to hit 10% of global passenger vehicle sales by 2025, rising to 28% in 2030 and 58% in 2040. Therefore, the increasing demand for electric vehicles is predicted to drive the growth of the electric vehicle fluids market. Increasing research and development is shaping the electric vehicle fluids market. Research and development in the market are done for the development, introduction, and optimization of products and processes. For instance, in 2021, Gulf Oil, an India-based manufacturer of automobile lubricants and greases company launched a new range of e-fluids for Hybrid and Electric (EV) passenger cars. These e-fluids are formulated to enhance the performance and safety of the vehicle along with other applications including improving braking performance and preventing corrosion, while eLEC coolant keeps electric vehicle batteries cool in high temperatures. In May 2021, Castrol, a UK-based manufacturer of lubricating oils, greases, automatic transmission fluids, and other related products for automobile and electric vehicles, has partnered with XING Mobility to develop XING Mobility’s immersion cooling battery technology for electric vehicles. Castrol and XING partnered to increase battery system performance and optimize fluid and hardware systems for more efficient results. XING Mobility is a China-based EV battery company. Major players in the electric vehicle fluids market are Castrol Limited, ExxonMobil Corporation, FUCHS Lubricants, Lubrizol Corporation, Petronas Nasional Bhd, Royal Dutch Shell plc, Gulf Oil, BP plc, ENEOS Corporation, PTT Public Company Limited, Repsol S.A, TotalEnergies SE, Valvoline Inc, and Shell. Europe was the largest region in the electric vehicles fluids market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric vehicle fluids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the EV fluids market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global electric vehicle fluids market is segmented - 1) By Product Type: Engine Oil, Coolants, Transmission Fluids, Greases 2) By Vehicle Type: Passenger Vehicle, Commercial Vehicle 3) By EV Type: BEV, PHEV, HEV 4) By Application: Driveline, Battery Coolant, Grease

The electric vehicles 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 vehicles 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 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 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 EV batteries. 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 electronic battery 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 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 battery 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 vehicles 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 vehicles batteries market in 2021. Western Europe was the second-largest region in the electric vehicles battery 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 vehicles 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 EV 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 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 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 market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the EV 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 car chargers market consists of sales of electric-car chargers by entities (organizations, sole traders and partnerships) that manufacture electric-car chargers. The charging point for electric vehicles is a device that links an electric vehicle (EV) to a source of electricity for electric cars, community electric vehicles and plug-in hybrids. The main types of electric car chargers are slow AC, fast AC, and fast DC. Slow AC charging is widely used in multi-dwelling structures, residences and fleet charging sites where cars have enough time to charge. The car takes about 5-8 hours to fully charge. The AC is converted to DC and fed directly into the battery by a converter. Electric car chargers are used in battery electric vehicles (BEV), plug-in hybrid electric vehicles (PHEV) and hybrid electric vehicles (HEV). The various charging infrastructures involved are CCS, CHADEMO, Normal Charge, Tesla Super Charger and Type 2 (IEC 621196). The electric chargers are used in different areas including homes, offices, and other commercial areas. The global electric car charger market size is expected to grow from $2.96 billion in 2021 to $3.98 billion in 2022 at a compound annual growth rate (CAGR) of 34.3%. The change in the electric car 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 market is expected to reach $13.30 billion in 2026 at a CAGR of 35.2%. The increasing demand for electric vehicles owing to growing environmental awareness is expected to drive the growth of the electric car charger market over the coming years. The world is moving towards electrified transportation to reduce the emissions of pollution from non-renewable fossil fuel vehicles and to offer transport with a substitute to costly fuel. According to EV-Volumes, a database of sales statistics, charging infrastructure, batteries, car models, and sales forecasts for plug-in cars, the number of plug-in vehicles that were sold in 2020 reached 3.24 million from 2.26 million in 2019. Therefore, the increasing sales of electric vehicles drive the growth of the electric car charger market. The impact of COVID-19 hampered the growth of the electric car charger market. The global automotive sector is experiencing a decline due to the lockdown in many nations, which has limited the growth of electric vehicles. For instance, in Germany, new registrations for electric cars decreased by 35% in the first quarter of 2020 compared to the same timeframe in 2019. Therefore, the outbreak of COVID-19 restrained the growth of the electric car charger market. The growing technological advancements are shaping the electric car charger market. Major companies operating in the electric car charger sector are focusing on developing technologically advanced solutions for electric car chargers. For instance, in February 2020, the Bengaluru-based start-up, Kirana Charzer, has launched an electric vehicle charger that can be mounted in small stores and businesses to accelerate the expansion of the electric vehicle charging network in the region. Kirana Charzer can be operated by any user on the Charzer application to deliver public EV charging and generate income via their charging point. In November 2021, Enphase Energy, a America-based energy technology company announced the acquisition of acquired ClipperCreek for au undisclosed amount. With this acquisition, Enphase will be able to enter the EV charging market and offer bi-directional charging, as well as vehicle-to-home and vehicle-to-grid applications. ClipperCreek is a US-based provider of electric vehicle (EV) charging solutions for residential and commercial customers. Major players in the electric car charger market are Leviton Manufacturing Co. Inc, ABB Ltd., Siemens AG, Schneider Electric Corp, AeroVironment Inc., Eaton, Evatran LLC, Tesla Motors Inc., Delphi Automotive Plc., and Bosch Automotive Service Solutions Inc. Asia Pacific was the largest region in the electric car charger market in 2021. The regions covered in the electric car chargers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the electric car charger market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global electric car charger market is segmented - 1) By Type: Slow AC, Fast AC, Fast DC 2) By Vehicle Type: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV) 3) By Charging Infrastructure Type: CCS, CHADEMO, Normal Charge, Tesla Super Charger, Type 2 (IEC 621196) 4) By Application: Home, Office, Commercial