Electric Vehicle Batteries Global Market Report 2023 – By Product Type (LithiumIon, LeadAcid, NickelMetal Hydride, SodiumIon, Other Battery Types), By Vehicle Type (Passenger Vehicles, Commercial Vehicles), By Propulsion (Battery Electric Vehicle (BEV), PlugIn Hybrid Electric Vehicle (PHEV)) – Market Size, Trends, And Global Forecast 2023-2032

Motor vehicle refers to any land vehicle that is not propelled by human muscle power, including cars, motorbikes, autocycles, and slow-moving vehicles. An engine or motor, typically an internal combustion engine, an electric motor, or a hybrid of the two, such as a plug-in hybrid or hybrid electric vehicle, provides the propulsion for the vehicle. The main types in the motor vehicles market are motorcycles and bicycles, passenger cars and commercial vehicles. A commercial vehicle refers to a vehicle that is used for commercial purposes. The various fuel types include gasoline, diesel, and other fuel types. These have an engine capacity of 1000 cc, 1000-1500 cc, 1500-2000 cc, and >2000 cc. These have propulsion types such as ic engines and electric vehicles. The global motor vehicles market is segmented - 1) By Type: Motorcycle And Bicycle, Passenger Car, Commercial Vehicle 2) By Fuel Type: Gasoline, Diesel, Other Fuel Types 3) By Engine Capacity: <1000 cc, <1000-1500 cc, <1500-2000 cc, >2000 cc 4) By Propulsion Type: IC Engine, Electric Vehicle Subsegments Covered: Motorcycles And Parts, Bicycles And Parts, Motor Scooters, Other Motorcycle And Bicycle, Hatchback, Sedan, Utility Vehicle, Light Commercial Vehicle, Heavy Trucks, Buses And Coaches The global motor vehicles market size grew from $2398.24 billion in 2022 to $2643.91 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. 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, causing inflation across goods and services and affecting many markets across the globe. The motor vehicles market is expected to grow to $3818.12 billion in 2027 at a CAGR of 9.6%. The motor vehicles market is aided by the stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market's growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the motor vehicles market during the forecast period. Major companies in the motor vehicles market include Volkswagen AG, Toyota Motor Corp, Daimler AG, Ford Motor Co, Honda Motor Co Ltd., Fiat Chrysler Automobiles NV, SAIC Motor Co Ltd., EXOR Group, Bayerische Motoren Werke AG, and Hyundai Motor Co Ltd. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the motor vehicles market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and has spread globally, including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries-imposed lockdowns. The outbreak is expected to continue to hurt businesses throughout 2020 and into 2021. However, it is expected that the automotive industry will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. Motor vehicle manufacturers, especially car manufacturers, are increasingly focusing on the commercialization of cars with active window displays. The active window displays will show all key driving information on the windshield. It shows information such as navigation instructions, fuel level information, vehicle speed, and other information. Some car manufacturers are also offering technologies that can be fixed on the dashboard of a car. For instance, in 2021, Huawei revealed its latest innovation at the Munich International Automobile Expo in Germany. The new AR HUD technology is an augmented reality-based system that transforms a car's front windshield into a smart display. Asia-Pacific was the largest region in the motor vehicles market in 2022. North America was the second largest market in automotive motors market. The regions covered in the motor vehicle parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries in the motor vehicles market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The motor vehicles market consists of sales of bicycles and parts, motor scooters, other motorcycle and bicycle, hatchback, sedan, utility vehicle, light commercial vehicle, heavy trucks, buses and coaches. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The motor vehicles market research report is one of a series of new reports from The Business Research Company that provides motor vehicles market statistics, including motor vehicles industry motor vehicles market size, regional shares, competitors with a motor vehicles market share, detailed motor vehicles market segments, market trends and opportunities, and any further data you may need to thrive in the motor vehicle industry. This motor vehicles market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and

A passenger car is a road motor vehicle that is used to transport people and has a maximum seating capacity of nine people (including the driver). The main types in the passenger car market include hatchbacks, sedans, and utility vehicles. A hatchback is referred to as a car that is configured with a swing to provide access to a cargo area. The various fuel types include gasoline, diesel, and others. The various engine capacities are 1000 cc, 1000-1500 cc, 1500-2000 cc, and >2000 cc. The various propulsion types include IC engines and electric vehicles. The global passenger car market is segmented - 1) By Type: Hatchback, Sedan, Utility Vehicle 2) By Fuel Type: Gasoline, Diesel, Other Fuel Types 3) By Engine Capacity: <1000 cc, <1000-1500 cc, <1500-2000 cc, >2000 cc 4) By Propulsion Type: IC Engine, Electric Vehicle The global passenger car market size grew from $1506.73 billion in 2022 to $1657.79 billion in 2023 at a compound annual growth rate (CAGR) of 10.0%. 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, causing inflation across goods and services and affecting many markets across the globe. The passenger car industry is expected to grow to $2372.13 billion in 2027 at a CAGR of 9.4%. Additive manufacturing is continuously evolving, and automobile manufacturers are now using 3D printing technology to reduce production time and costs. 3D printing creates a three-dimensional physical object using a digital design. It is being used to build prototypes of cars, concept models, design verification, and functional parts used in test vehicles and engines. Automobile manufacturers are also using 3D printing to build a variety of tools, jigs, and fixtures used in assembly and manufacturing processes. 3D printing helps in rapid prototyping, increases assembly-line efficiency, lowers turnaround time, improves flexibility in design, and reduces wastage of materials. Major companies in the passenger car market include Toyota Motor Corp, Volkswagen AG, Honda Motor Co Ltd., Ford Motor Co, Fiat Chrysler Automobiles NV, Hyundai Motor Co Ltd., EXOR Group, Nissan Motor Co Ltd., Daimler AG, and SAIC Motor Co ltd. Asia-Pacific was the largest region in the passenger car market in 2022. Western Europe was the second-largest region in the passenger car market. The regions covered in the passenger car market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the passenger car market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The passenger car market consists of sales of pickup trucks, compact cars, and minivans. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The passenger car market research report is one of a series of new reports from The Business Research Company that provides passenger car market statistics, including passenger car global market size, regional shares, competitors with a passenger car market share, detailed passenger car market segments, market trends and opportunities, and any further data you may need to thrive in the passenger car industry. This passenger 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.

An electric vehicle charging station refers to equipment that connects an electric vehicle to an electricity source to recharge the vehicle and keep the vehicle in motion. These are environmentally friendly as they do not emit pollutants. The electric vehicle charging stations equipment market consists of sales of alternating current (AC) charging, direct current (DC) charging, and other electric vehicle charging station equipment. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the chain or as part of other products. The main types of installations in electric vehicle charging stations are home charging systems and commercial charging systems. 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, and others, and have various charging modes such as plug-in charging systems and wireless charging systems. The several charging stations include AC charging stations and a DC charging station. 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, Other Connector Types 3) By Mode Of Charging: Plug In Charging System, Wireless Charging System 4) By Charging Statiom: Ac Charging Station, Dc Charging Station The global electric vehicle charging stations market size grew from $5.4 billion in 2022 to $7.3 billion in 2023 at a compound annual growth rate (CAGR) of 35.3%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global electric vehicle charging stations is expected to grow from $23.25 billion in 2027 at a CAGR of 33.6%. Increasing tax incentives and subsidies given to local automakers to produce electric vehicles are driving the demand for the electric vehicle (EV) charging station market. Tax incentives and subsidies to the electric vehicle makers are encouraging automakers to make more Electric vehicles which will generate more demand for EV charging stations. China's subsidy policy caused a 53% increase in the manufacture and sale of electric vehicles in the country. Electric vehicle sales in China were 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. Major players in the electric vehicle charging station 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 limited range of electric vehicles is hindering the Electric vehicle (EV) charging stations market growth. Electric vehicles have a limited range as compared to traditional internal combustion engine vehicles due to their limited battery capacity. Electric vehicles can’t be used in the case of long-distance travel, which causes the slow growth of electric vehicles. A survey conducted by BBC involves a sample of 10,293 drivers out of which 76% of the drivers said that 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 direct current (DC) 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 up to 120 kW directly into the 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 the AC charging process can be eliminated. In 2022, Tesla an American automotive and energy company revealed the supercharger V4’s design as part of the construction plans for a new station being deployed. 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 in 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 solutions. 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. Asia-Pacific was the largest region in the electric vehicle charging station market in 2022. North America was the second-largest region in the electric vehicle charging station market report. The regions covered in the global electric vehicle charging station industry 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 market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The electric vehicle charging station market consists of revenues earned by entities by providing services such as aerial maps, getting updates on charging, and recommendations. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electric vehicle charging station market research report is one of a series of new reports from The Business Research Company that provides electric vehicle charging station market statistics, including electric vehicle charging station industry global market size, regional shares, competitors with electric vehicle charging station market share, detailed electric vehicle charging station market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle charging station industry. This electric vehicle charging station 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.

A passenger electric vehicle is a road motor vehicle that runs on electricity and is used to transport people and has a maximum seating capacity of nine people (including the driver). The main types in the passenger electric vehicle market are battery electric vehicles, hybrid electric vehicles, and 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 sedans, hatchbacks, and SUVs. The charging infrastructure involved is normal charging and high power charging. The global passenger electric vehicles 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 global passenger electric vehicles market grew from $278.75 billion in 2022 to $365.72 billion in 2023 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global passenger electric vehicles is expected to grow from $1,083.65 billion in 2027 at a CAGR of 31.2%. The rising concerns about environmental factors, including global warming and climate change, are increasing the demand for electric vehicles and, subsequently, driving the passenger electric vehicle market. Due to rising environmental concerns, more people have been shifting to alternate modes of transport that 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 passenger electric vehicles market demand going forward. 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. Battery capacity and drainage challenges are significant challenges that are restraining the growth of the passenger electric vehicles 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 their battery capacity was not 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 passenger electric vehicles market. Companies in the passenger electric vehicles market are focusing on the development of technologies to increase the range of the vehicles. Automobile manufacturers have increased the battery range of their electric models by an average of 38 miles, 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 vehicle. 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 contribute 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 cell 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 June 2022, Club Car, a US-based manufacturer and global leader in golf, consumer, and utility vehicles, acquired Garia A/S for an undisclosed amount. Through this acquisition, Club Car will expand in low-speed electric vehicles. Garia A/S is a Denmark-based manufacturer of electric vehicles for the utility, consumer and golf markets. Asia-Pacific was the largest region in the passenger electric vehicles market in 2022. This region is expected to remain the largest during the next five years. The regions covered in the passenger electric vehicles industry 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 passenger electric vehicles market consists of sales of hybrid electric vehicles (HEVs) and extended range electric vehicles (E-REVs). Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The passenger electric vehicles market research report is one of a series of new reports from The Business Research Company that provides passenger electric vehicles market statistics, including passenger electric vehicles industry global market size, regional shares, competitors with a passenger electric vehicles market share, detailed passenger electric vehicles market segments, market trends and opportunities, and any further data you may need to thrive in the passenger electric vehicles industry. This passenger electric vehicles 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.

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 cars 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 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 global electric cars market size will grow from $278.75 billion in 2022 to $365.72 billion in 2023 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global electric cars is expected to grow to $1,083.65 billion in 2027 at a CAGR of 31.2%. The growing demand for electric vehicles is driving the growth of electric cars market. Electric cars are one of the fastest-growing segments of the electric vehicle market. According to the IEA, in 2021, electric car (including fully electric and plug-in hybrids) sales doubled compared to previous years to nearly 6.6 million. 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. Major players in the electric cars market are Toyota, BMW, BYD, Tesla, BMW, Volkswagen, General Motors, BAiC Motors, SAIC, and Daimler AG. The lack of standardization 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 utilization of electric vehicles. This factor is likely to challenge the growth of this electric cars 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 June 2022, Club Car, an American manufacturer of golf, consumer, and utility vehicles, acquired Garia A/S, a manufacturer of electric street low-speed vehicles, for an undisclosed amount. The acquisition helped Club Car get Garia A/S street-legal utility and last-mile delivery portfolio, which will be mainly used to increasing the global reach. Garia A/S also design and build 100 % electric fit-to-task vans and truck. Asia-Pacific was the largest region in the electric cars market in 2022. Western Europe was the second largest market in the global electric cars market share. The regions covered in the global electric cars market analysis 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 electric cars market consists of sales of fuel cell electric vehicle (FCEV) and all-electric vehicle (AEV). Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electric cars market research report is one of a series of new reports from The Business Research Company that provides electric cars market statistics, including electric cars industry global market size, regional shares, competitors with an electric cars market share, detailed electric cars market segments, market trends and opportunities, and any further data you may need to thrive in the electric cars industry. This electric cars 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.

Commercial electric vehicles are electrically powered, self-propelled electric vehicles used for transportation that help reduce greenhouse gas emissions (GHG) and pollution and work with the help of both electric motors working in tandem. The main technologies in commercial electric vehicles are battery electric vehicles, hybrid electric vehicles, and 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 buses, trucks, pick-up trucks, and vans. The charging infrastructure involved is pantograph, plug-in, and inductive. 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 global commercial electric vehicles market size grew from $88.45 billion in 2022 to $116.95 billion in 2023 at a compound annual growth rate (CAGR) of 32.2%. 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, causing inflation across goods and services and affecting many markets across the globe. The size of the commercial electric vehicles market is expected to grow from $357.44 billion in 2027 at a CAGR of 32.2%. Government subsidies to consumers and manufacturers help with 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 buyers and manufacturers to increase the adoption rate of electric vehicles. For example, in order to make electric vehicles (EVs) accessible to all Americans for both short- and long-distance travel, the federal government has set the 2030 target of having half of all new vehicles sold in the country be zero-emissions vehicles. It has also committed to developing a practical and equitable network of 500,000 chargers. Major players in the commercial electric vehicle market report are Tesla, Nissan, BMW, Chevrolet, Ford, Volkswagen, Kia Motors, Audi, BYD, and Daimler. The difference in vehicle performance acts as a restraint on the growth of the commercial electric vehicle market. Electric vehicles provide excellent torque at low speeds, but at higher speeds, the performance drops. The range of current battery electric vehicles (BEVs) is typically 50 to 100 miles. For example, the Nissan LEAF electric vehicle has high torque (236 lb-ft) but relatively low power at 147 hp. The conventional fuel car Honda S2000, on the other hand, has a respectable 256 hp. Technological advances to improve charging speed and enhance battery design are the latest trend in the commercial electric vehicle market. Manufacturers are looking at solid-state batteries that use graphene as the potential solution and are expected to increase both the range and the charging speed of the batteries in electric vehicles. 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 charging, the most modern electric vehicles 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 kg 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 technology. 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 democratic 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 automotives based in India, acquired Switch Mobility Automotive for an undisclosed amount. Ashok Leyland expands its commercial electric vehicle portfolio and makes an investment in Switch Mobility, acquiring all of the company's shares. Switch Mobility Automotive is a company operating commercial electric vehicles based in the UK. Asia-Pacific was the largest region in the commercial electric vehicles market in 2022. The regions covered in the commercial electric vehicles market analysis 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 commercial electric vehicles market consists of sales of hybrid electric vehicles (HEVs) and extended range electric vehicles (E-REVs). Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The commercial electric vehicles market research report is one of a series of new reports from The Business Research Company that provides commercial electric vehicle market statistics, including commercial electric vehicle industry global market size, regional shares, competitors with a commercial electric vehicle market share, detailed commercial electric vehicle market segments, commercial electric vehicles market trends and opportunities, and any further data you may need to thrive in the commercial electric vehicle industry. This commercial electric vehicle 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.

Electric vehicle charging station equipment refers to equipment that connects an electric vehicle to an electricity source to recharge the vehicle. The type of electric vehicle charging station equipment is AC charging, DC charging, and inductive charging that are used in different vehicle types such as battery electric vehicles (BEV), plug-in electric vehicles (PHEV), and hybrid electric vehicles (HEV). The AC charging converts power from AC to DC and then feeds it into the car’s battery. Different types of charging in electric vehicle charging stations equipment 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 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) The global electric vehicle charging stations equipment market size grew from $5.4 billion in 2022 to $7.3 billion in 2023 at a compound annual growth rate (CAGR) of 35.3%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global electric vehicle charging stations equipment is expected to grow from $23.25 billion in 2027 at a CAGR of 33.6%. National and international legislative policies for promoting the electric vehicle (EV) are driving the growth of the electric vehicle charging stations equipment 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 equipment market. This helps in boosting the electric vehicle charging stations equipment equipment market. For example, an attractive scheme was launched by the 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 equipment market. Major players in the electric vehicle charging stations equipment 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 limited driving range of electric vehicles (EV) is one of the major factors restraining the EV market thereby affecting the growth of the electric vehicle charging stations equipment equipment market. The driving range of EVs is shorter than that of gasoline vehicles. This limitation is due to various factors such as passenger capacity, use of air conditioning and the need for margin to be retained before the next recharge. This, affects 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 market growth. Ultra-quick DC charge stations are trending in the electric vehicle charging stations equipment market. Ultra-quick DC charge helps in supplying direct power of up to 125 KW to the vehicles without any converter. These ultra-quick DC charge stations can charge 80% of the electric supply required for the vehicles within 20 min period. With the increasing demand for EVs, the need for more charging stations is increasing. To cope with the demand and availability of low-energy charging points and to deal with new upcoming EVs that require 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 equipment across the United States. In June 2022, Blink Charging Co., a US-based provider of electric vehicle (EV) charging equipment and services acquired SemaConnect for an undisclosed amount. With this purchase, Blink Charging will be the only EV charging business to provide total vertical integration, encompassing everything from EV charger ownership and operations to R&D and production. SemaConnect Inc. is a US-based company operating in EV charging infrastructure solutions. Asia Pacific was the largest region in the electric vehicle charging stations equipment equipment market in 2022. The regions covered in the global electric vehicle charging stations equipment equipment market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric vehicle charging stations equipment equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The electric vehicle charging stations equipment equipment market consists of sales of alternating current(AC) charging, direct current(DC) charging, and other electric vehicle charging station equipment. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electric vehicle charging stations equipment equipment market research report is one of a series of new reports from The Business Research Company that provides electric vehicle charging stations equipment equipment market statistics, including electric vehicle charging stations equipment equipment industry global market size, regional shares, competitors with an electric vehicle charging stations equipment equipment market share, detailed electric vehicle charging stations equipment equipment market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle charging stations equipment equipment industry. This electric vehicle charging stations equipment equipment 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 electric car charger refers to equipment that supplies power for an electric car. 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. The fast AC charger can recharge small electric vehicles fully in three to four hours. Fast DC chargers convert AC power to DC within the charging station and deliver DC power directly to the battery and hence charge faster. It has various charging type such as on-board charger and off-board Charger, that are used in different areas including homes, offices, and other commercial areas. The global electric car chargers market is segmented - 1) By Type: Slow AC, Fast AC, Fast DC 2) By Charging Type: On-board Charger, Off-board Charger 3) By Application: Home, Office, Commercial The global electric car chargers market size grew from $4.03 billion in 2022 to $5.54 billion in 2023 at a compound annual growth rate (CAGR) of 37.6%. 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, causing inflation across goods and services, and affecting many markets across the globe. The electric car chargers market size is expected to grow to $18.49 billion in 2027 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 chargers 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 as a substitute for costly fuel. For instance, according to May 2022 published, Global EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the increasing sales of electric vehicles drive the growth of the electric car chargers market. Major players in the electric car chargers market are Leviton Manufacturing Co. Inc., ABB Ltd., Siemens AG, Schneider Electric Corp, AeroVironment Inc., Eaton, Evatran LLC, Tesla Motors Inc., Delphi Automotive PLC., Bosch Automotive Service Solutions Inc., Elektromotive Ltd., Hubbell Device-Kellems, Legrand, TurboDock, GE, Chargepoint, and Blink. The impact of COVID-19 hampered the growth of the electric car chargers 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 chargers market. The growing technological advancements are shaping the electric car chargers 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, 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 June 2022, Schneider Electric, a France-based company that specializes in digital automation and energy management, acquired EV Connect, Inc. for an undisclosed amount. Schneider Electric's acquisition of EV Connect will allow the company to accelerate its growth alongside the present management team. EV Connect Inc. is a US-based provider of electric charging solution. Asia-Pacific was the largest region in the electric car chargers market in 2022. The regions covered in the electric car chargers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric car chargers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The electric car chargers market consists of sales of slow alternating current (AC) electric-car chargers, fast alternating current (AC) electric-car chargers, and fast direct current (DC) electric-car chargers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electric car chargers market research report is one of a series of new reports from The Business Research Company that provides electric car chargers market statistics, including electric car chargers industry global market size, regional shares, competitors with a electric car chargers market share, detailed electric car chargers market segments, market trends and opportunities, and any further data you may need to thrive in the electric car chargers industry. This electric car chargers 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.