Light Electric Vehicles Global Market Report 2023 – By Product (Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV)), By Component Type (Battery Pack, Electric motor, Motor controller, Inverters, Power controller, E-brakes controller, Power electronics), By Power Output (Less than 6kW, 6-9 Kw, 9-15 Kw), By Vehicle Type (e-ATV, e-bike, e-scooter, e-motorcycle, neighborhood electric vehicle, e-lawn mower, Electric industrial vehicle, Autonomous forklifts, Automated guided vehicles), By Application (Personal Mobility, Shared Mobility, Recreation and Sport, Commercial) – Market Size, Trends, And Global Forecast 2023-2032

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.

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.

An electric vehicle charger is defined as a charger that delivers energy to the vehicle battery system per unit of time. It is a part of electric vehicle supply equipment that provides electrical power to plug-in electric automobiles. 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, commercial. 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 global electric vehicle charger market size grew from $5.26 billion in 2022 to $6.98 billion in 2023 at a compound annual growth rate (CAGR) of 32.6%. 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 vehicle charger market size is expected to grow to $17.81 billion in 2027 at a CAGR of 26.4%. 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. 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, Siemens, Electricite de France SA, POD Point, Schaffner Holdings AG, IES Synergy, and Efacec. 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. Asia-Pacific was the largest region in the electric vehicle charger market in 2022. The regions covered in the electric vehicle charger market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric vehicle charger market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The electric vehicle charger market consists of sales of on-board electric vehicle chargers and off-board electric vehicle 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 vehicle charger market research report is one of a series of new reports from The Business Research Company that provides electric vehicle charger market statistics, including electric vehicle charger industry global market size, regional shares, competitors with a electric vehicle charger market share, detailed electric vehicle charger market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle charger industry. This electric vehicle charger 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.

Electric vehicle batteries are defined as batteries that are used to power electronic vehicles and are rechargeable in nature. These batteries support the clean energy initiative as they don’t emit any harmful gases which cause damage to the environment. The main types of battery used in electric vehicle are lithium-ion, lead-acid, nickel-metal hydride, sodium-ion, and others. The lithium-ion are used in electric vehicle for safer and more stable movement than liquid li-ion batteries. The electric vehicle batteries are used two types of vehicles such as passenger and commercial vehicles and available in two types of propulsion such as battery electric vehicle and plug-in hybrid electric vehicle. The global electric vehicle batteries market is segmented – 1) By Battery Type: Lithium-Ion, Lead-Acid, Nickel-Metal Hydride, Sodium-Ion, Other Battery Types 2) By Vehicle Type: Passenger Vehicles, Commercial Vehicles 3) By Propulsion: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV) The global electric vehicle batteries market will grow from $25.43 billion in 2022 to $27.24 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. 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 global electric vehicle batteries market is expected to grow to $35.54 billion in 2027 at a compound annual growth rate (CAGR) of 6.9%. Advances in electric vehicle (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 electric vehicle batteries market. Major players in the electric vehicle 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. 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 batteries market over the forecast period. 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 vehicle like battery electric vehicle (BEV), plug-in hybrids (PHEV) or hydrogen fuel cell electric vehicle (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 August 2022, Nikola Corporation, a US-based manufacturer of heavy-duty commercial battery-electric vehicle, fuel-cell electric vehicle, and energy solutions, acquired Romeo Power for $144 million. With this acquisition, Nikola expects the considerable operational improvements and cost savings in battery pack production. The integration of Romeo's battery and battery management system (BMS) engineering expertise is also intended to help Nikola customers benefit from faster product development and greater performance. Romeo Power is a US-based battery manufacturer for EV vehicles. Asia-Pacific was the largest region in the electric vehicle batteries market in 2022. Western Europe was the second-largest region in the global electric vehicle batteries market share. The regions covered in the global electric vehicle batteries 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 batteries market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The electric vehicle batteries market consists of sales of lithium-ion batteries, lead-acid batteries, nickel-metal hydride batteries, sodium-ion batteries, and other electric vehicle (EV) batteries. 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 batteries market research report is one of a series of new reports from The Business Research Company that provides electric vehicle batteries market statistics, including electric vehicle batteries industry global market size, regional shares, competitors with a electric vehicle batteries market share, detailed electric vehicle batteries market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle batteries industry. These electric vehicle batteries 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 vehicle fluids 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 for electric current, along with extending the lifetime of each electric motor part and the mileage of EVs by improving machine efficiency. The main types of products include engine oils, coolants, transmission fluids, and greases. Engine oils are used to keep the engine cool and ensure that the piston rings in the IC engine are sealed properly. The different vehicle types include passenger vehicles and commercial vehicles and involve various EV types such as BEV, PHEV, and HEV. It is used in the driveline, battery coolant, and grease. The global electric vehicle fluids market is segmented - 1) By Product Type: Engine Oil, Coolants, Transmission Fluids, and Greases 2) By Vehicle Type: Passenger Vehicle, Commercial Vehicle 3) By EV Type: BEV, PHEV, or HEV 4) By Application: Driveline, Battery Coolant, Grease The global electric vehicle fluids market size grew from $1.33 billion in 2022 to $1.7 billion in 2023 at a compound annual growth rate (CAGR) of 27.4%. 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 vehicle fluids market size is expected to grow to $4.57 billion in 2027 at a CAGR of 28.0%. An increase in 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 helps 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 increase in demand for electric vehicles is predicted to drive the growth of the electric vehicle fluids market. 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. An Increase in research and development is shaping the electric vehicle fluids market. Research and development are done in the market 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, 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 automobiles and electric vehicles, 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. Europe was the largest region in the electric vehicle fluids market in 2022. Asia-Pacific is expected to be the fastest-growing region in the electric vehicle fluids market during the forecast period. The regions covered in the electric vehicle fluids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric vehicle fluids market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The electric vehicle fluids market consists of sales of heat transfer fluid, brake fluid, and drive system fluid. 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 fluids market research report is one of a series of new reports from The Business Research Company that provides electric vehicle fluids market statistics, including electric vehicle fluids industry global market size, regional shares, competitors with an electric vehicle fluids market share, detailed electric vehicle fluids market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle fluids industry. This electric vehicle fluids 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 charger is defined as a charger that delivers energy to the vehicle battery system per unit of time. It is a part of electric vehicle supply equipment that provides electrical power to plug-in electric automobiles. 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, commercial. 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 global electric vehicle charger market size grew from $5.26 billion in 2022 to $6.98 billion in 2023 at a compound annual growth rate (CAGR) of 32.6%. 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 vehicle charger market size is expected to grow to $17.81 billion in 2027 at a CAGR of 26.4%. 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. 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, Siemens, Electricite de France SA, POD Point, Schaffner Holdings AG, IES Synergy, and Efacec. 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. Asia-Pacific was the largest region in the electric vehicle charger market in 2022. The regions covered in the electric vehicle charger market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric vehicle charger market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The electric vehicle charger market consists of sales of on-board electric vehicle chargers and off-board electric vehicle 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 vehicle charger market research report is one of a series of new reports from The Business Research Company that provides electric vehicle charger market statistics, including electric vehicle charger industry global market size, regional shares, competitors with a electric vehicle charger market share, detailed electric vehicle charger market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle charger industry. This electric vehicle charger 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.

Electrical and electronics produce products that generate, distribute and use electrical power, or electronic products such as audio, video, and semiconductors. This market does not include computers, computer peripherals, and telecommunications equipment. The main types of electrical and electronics are electrical equipment, measuring and control instruments, and electronic products. Any apparatus, appliance, cable, conductor, fitting, insulator, material, meter, or wire that is used for controlling, generating, supplying, transforming, or transmitting electricity at a voltage greater than extra-low voltage or is powered by electricity at a voltage greater than extra-low voltage is considered as electrical equipment. The equipment is operated through online and offline modes. The various sales channels include OEM and aftermarket that are used by B2B and B2C end users. The global electrical and electronics market is segmented - 1) By Type: Electrical Equipment, Measuring and Control Instruments, Electronic Products 2) By End-Use: B2B, B2C 3) By Sales Channel: OEM, Aftermarket 4) By Mode: Online, Offline Subsegments Covered: Electric Lighting Equipment, Household Appliances, Power Generation, Transmission And Control Equipment, Batteries, Wires And Cables, Other Electrical Equipment, Electronic Products And Components, Navigational, Measuring, Electro medical And Control Instruments, Audio And Video Equipment, Semiconductor And Other Electronic Component The global electrical and electronics market size grew from $3454.94 billion in 2022 to $3739.37 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. 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 electrical and electronics is expected to grow to $4986.91 billion in 2027 at a CAGR of 7.5%. The rapid pace of innovations in electronics technology is stimulating consistent demand for newer and faster electrical and electronics products. Technological development is a key to attracting both consumers and business users for either replacing or upgrading the older products with advanced versions. Digital technologies such as the internet of things (IoT) and the latest communication technologies such as 5G are expected to aid in the development of innovative electronic products. This is expected to increase the demand for electronic products which will ultimately drive the growth of the electrical and electronics market during the forecast period. Major companies in the electrical and electronics market include Samsung Electronics Co. Ltd., Siemens AG, LG Electronics, Taiwan Semiconductor Mfg. Co Ltd., Panasonic Corporation, Thermo Fisher Scientific, Apple, Haier Smart Home Co., Ltd., Schneider Electric SE, and SK Hynix Inc. Virtual reality technology is being adopted by electronic manufacturing companies to improve manufacturing efficiency. This technology in the electrical and electronics industry analysis is often referred to as digital design, simulation, and integration. Virtual reality minimizes the scope for product defects in the design phase. For instance, virtual reality technology enables companies to inspect design objects at all conceivable scales, thereby eliminating defects in the product in the design stage. For instance, some of the major companies adopting virtual reality include Integrated Microelectronics, Inc., Flextronics International Ltd., Benchmark Electronics, Inc., and Kimball International. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the electrical and electronics manufacturing 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 in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of 'lock down' and the outbreak hurt businesses throughout 2020 and into 2021. However, it is expected that the electrical and electronics market will recover from the shock across 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. Asia-Pacific was the largest region in the global electrical and electronics market in 2022. North America was the second largest region in the electrical and electronics market share. The regions covered in the electrical and electronics market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the electrical and electronics market report 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 and Vietnam. The electrical and electronics market consists of sales of photoresist and photoresist ancillaries, superconductors, photoelectric sensors, automotive dc-dc converters, surface inspection, temperature sensors, fingerprint sensors, quantum dot, touch screen controllers, torque sensors, pressure sensors, silicon photonics, automotive wiring harness and other electrical and electronics components. 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 electrical and electronics market research report is one of a series of new reports from The Business Research Company that provides electrical and electronics market statistics, including electrical and electronics industry global market size, regional shares, competitors with an electrical and electronics market share, detailed electrical and electronics market segments, market trends and opportunities, and any further data you may need to thrive in the electrical and electronics industry. This electrical and electronics 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.