Global Passenger Electric Vehicles Market

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 are level one charging (120 volts), level two charging (240 volts), and DC fast charging (480 volts). The electric vehicle charging stations equipment market research report is one of a series of new reports from The Business Research Company that provides electric vehicle charging stations equipment market statistics, including electric vehicle charging stations equipment industry global market size, regional shares, competitors with an electric vehicle charging stations equipment market share, detailed electric vehicle charging stations equipment market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle charging stations equipment industry. This electric vehicle charging stations 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 global electric vehicle charging stations market 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 electric vehicle charging stations market 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 market. The scheme to provide incentives to motivate investors in buying electric vehicles and installing the EV charging stations help in driving the electric vehicle charging stations market. This helps in boosting the electric vehicle charging stations 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 market. 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 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 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 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. Major players in the electric vehicle charging stations equipment market are ABB Ltd., Siemens AG, The New Motion BV, Tesla Motors Inc., ClipperCreekInc., DBT SA, Chargemaster PLC., Engie SA, Fortum Oyj, and Leviton Manufacturing Co. Asia Pacific was the largest region in the electric vehicle charging stations equipment market in 2022. The regions covered in the global electric vehicle charging stations equipment 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 charging stations equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. 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 supply chain or as part of other products. The global electric vehicle charging stations equipment market is segmented - 1) By Type: AC Charging, DC Charging, Inductive Charging 2) By Vehicle Type: Battery Electric Vehicles (BEV), Plug-In Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV) 3) By Charging Type: Level One Charging (120 Volts), Level Two Charging (240 Volts), DC Fast Charging (480 Volts)

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 vehicles are lithium-ion, lead-acid, nickel-metal hydride, sodium-ion, and others. The lithium-ion are used in electric vehicles for safer and more stable movement than liquid li-ion batteries. The electric vehicles batteries are used two types of vehicles such as passenger and commercial vehicles and available in two types of propulsion such as battery electric vehicle and plug-in hybrid electric vehicle. The electric vehicles batteries market research report is one of a series of new reports from The Business Research Company that provides electric vehicles batteries market statistics, including electric vehicles batteries industry global market size, regional shares, competitors with a electric vehicles batteries market share, detailed electric vehicles batteries market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicles batteries industry. This electric vehicles 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 global EV 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 EV 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 vehicles (EV) batteries and their associated technologies are attracting the interests of individuals to purchase EVs, contributing to the growth of the EV batteries. Recent advancements such as lithium-ion batteries, fast charging, and better mileage have helped the electric cars become more passenger-friendly. According to the United States Department of Energy, the range of average electric car have increased from 73 miles in 2011 to 400 miles in 2021. Moreover, the technological developments are contributing to reduced prices of the electronic batteries. According to the Bloomberg report, battery prices that were above USD 1,100 in 2010 have fallen by 87% to $156 per kilowatt-hour in 2019 and is likely to decline to $100 per kilowatt-hour by the end of 2023. Therefore, the advances in electronic battery and its associated technologies increase the vehicles mileage and draws more customers driving the electronic battery market. The extraction of raw materials like lithium cobalt used in the electric vehicle battery has a harmful effect on the environment and governments impose restriction on mining the raw materials, hindering the growth of the market. The extraction process of one ton of lithium requires 50,000 gallons of water. Lithium mining has resulted in consumption of 65% water of the Salar de Atacama region, Chile, which has led to water shortages in Chile, South America along with severe toxic spills. As the demand upsurges, the mining activity also rises with increasing damage to the environment and will force the governments to enforce stringent regulation to curb the negative effects which would increase the production cost. Therefore, the harmful effect of electric vehicle batteries on the environment is expected to be a hindrance to the electric vehicle battery market over the 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 vehicles like battery electric vehicles (BEV), plug-in hybrids (PHEV) or hydrogen fuel cell electric vehicles (FCEV) batteries’ can communicate with the power grid for either returning electricity to the grid, to homes during the peak times or increase their charging rate to discharge and charge the battery accordingly. For instance, in January 2021, FCA along with Engie EPS and Terna has launched the first phase of a vehicle-to-grid (V2G) pilot project in Turin, Italy, to test potential connections of the company’s vehicles to the grid. Thus, Vehicle to grid technology is anticipated to be a major trend in the electric battery market. In August 2022, Nikola Corporation, a US-based manufacturer of heavy-duty commercial battery-electric vehicles, fuel-cell electric vehicles, 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. Major players in the electric vehicles’ batteries market are Panasonic Corporation, Mitsubishi Motors Corporation, Beijing Pride New Energy Battery Technology Co. Ltd., Automotive Energy Supply Corporation, BYD Company Ltd., Daimler AG, Robert Bosch GmbH, SAMSUNG SDI Co., Tianneng Power International Co. Ltd., and Johnson Controls. Asia-Pacific was the largest region in the electric vehicles batteries market in 2022. Western Europe was the second-largest region in the global electric vehicles’ batteries market. The regions covered in the global electric vehicles batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric vehicles batteries market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The electric vehicles (EV) batteries market consists of sales of lithium-ion batteries, lead-acid batteries, nickel-metal hydride batteries, sodium-ion batteries, and other electric vehicles (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 global electric vehicle (EV) 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)

Electric locomotive is a locomotive that runs on electricity and gets its power from storage batteries, overhead wires, or third rails, or even generates it on its own. The main types of energy transfer in electric locomotives are overhead lines, third rail, and onboard energy storage. Overhead lines are a wire or cable suspended between poles that is used to distribute power or signals. The technologies involved are technology, IGBT module, GTO thyristor, and sic module. The traction units involved are ac traction units, DC traction units, and multi-system units. The application involved passenger transport and freight transport. The electric locomotives market research report is one of a series of new reports from The Business Research Company that provides electric locomotives market statistics, including electric locomotives industry global market size, regional shares, competitors with an electric locomotives market share, detailed electric locomotives market segments, market trends and opportunities, and any further data you may need to thrive in the electric locomotives industry. This electric locomotive market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global electric locomotives market size will grow from $1.67 billion in 2022 to $1.89 billion in 2023 at a compound annual growth rate (CAGR) of 13.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global electric locomotives market size is expected to grow to $2.90 billion in 2027 at a CAGR of 11.4%. Increasing preference for non-polluting and energy-efficient transport is contributing to the growth of the electric locomotive market. According to the UK Department of Transport, besides highly efficient electric motors in electric locomotives that regularly have an efficiency of around 90% due to advancements such as regenerative braking, which can recover energy from braking, they emit 20%–35% less carbon per passenger mile than those enabled by diesel, which helps in a reduction in carbon emissions. Concerns regarding a greener environment have resulted in increasing demand for non-polluting and energy-efficient transport systems, thereby driving the electric locomotive market. Regular maintenance of the rolling stock is required to ensure its safety, which is very expensive, impacting the growth of the market. For example, the annual maintenance cost of the high-speed trainset is approximately $1 million. In addition to the cost of components that need to be replaced periodically, proper maintenance is needed for facilities such as stations and berthing sites. Moreover, rolling stock requires long-term maintenance once the train has reached half of its operating life. This involves maintenance work on electrical, mechanical, and hydraulic parts of the vehicle. A large investment is needed for such maintenance. For example, the overhaul and electrification project of the around 100 km Nis-Dimitrovgrad railway line (Serbia) is estimated to cost around $306 million, and a Memorandum of Understanding (MoU) was signed with CRBC (China) for the overhaul of the Belgrade-Nis railway line for $701 million. Therefore, the expensive maintenance and overhaul that is needed regularly will hamper the growth of the electric locomotive market. The emergence of dual-mode locomotive electric trains will be one of the major trends that will gain traction in the electric locomotive market in the forecast period. In May 2022, the Indian West Central Railways, launched Navdoot. Navdoot is a dual-mode locomotive that runs on batteries. The batteries and electricity are both used to power this engine. In February 2020, Alstom announced plans to acquire Bombardier Transportation for a price between EUR 5.8 billion and EUR 6.2 billion, which will be paid by cash and new Alstom shares. This acquisition will increase Alstom's global reach and its ability to respond to the ever-increasing need for sustainable mobility. Bombardier Transportation will bring to Alstom a complementary geographical presence and an industrial footprint in growing markets, as well as additional technological platforms. It will significantly increase innovation capabilities and lead to smart and green innovation. Bombardier Transportation is a Canadian multinational company that manufactures business jets and trains. Major players in the electric locomotives market are CRRC Corporation Limited, Bombardier Inc., Alstom SA, Siemens AG, Kawasaki Heavy Industries Ltd., General Electric Company, Transmashholding AG, Stadler Rail AG, Hitachi Ltd., and AEG Power Solutions. Western Europe was the largest region in the electric locomotives market in 2022. Asia-Pacific was the second largest region in the global electric locomotives market. The regions covered in the global electric locomotives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric locomotives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The electric locomotive market consists of sales of direct current (DC) and alternating current (AC) locomotives. 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 global electric locomotives market is segmented - 1) By Energy Transfer: Overhead Lines, Third Rail, On-board Energy Storage 2) By Technology: IGBT Module, GTO Thyristor, SiC Module 3) By Traction Units: AC Traction Units, DC Traction Units, Multi System Units 4) By Application: Passenger Transport, Freight Transport

The electric 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 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. The global electric car charger 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 charger 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 charger market over the coming years. The world is moving towards electrified transportation to reduce the emissions of pollution from non-renewable fossil fuel vehicles and to offer transport 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 charger market. The impact of COVID-19 hampered the growth of the electric car charger market. The global automotive sector is experiencing a decline due to the lockdown in many nations, which has limited the growth of electric vehicles. For instance, in Germany, new registrations for electric cars decreased by 35% in the first quarter of 2020 compared to the same timeframe in 2019. Therefore, the outbreak of COVID-19 restrained the growth of the electric car charger market. The growing technological advancements are shaping the electric car charger market. Major companies operating in the electric car charger sector are focusing on developing technologically advanced solutions for electric car chargers. For instance, in February 2020, the Bengaluru-based start-up, Kirana Charzer, 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. 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. Asia-Pacific was the largest region in the electric car charger 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 global electric car charger 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

Electric commercial 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 propulsion types in electric commercial vehicles are BEV, PHEV, and FCEV. 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 electric buses, electric trucks, electric pick-up trucks, and electric vans. The battery types involved are lithium-iron-phosphate (left), lithium-nickel-manganese-cobalt oxide (nmc), and others. The technologies involved are battery-electric commercial vehicles, plug-in hybrids, hybrids, and fuel cell electric commercial vehicles. The electric commercial vehicles market research report is one of a series of new reports from The Business Research Company that provides electric commercial vehicle market statistics, including electric commercial vehicle industry global market size, regional shares, competitors with an electric commercial vehicle market share, detailed electric commercial vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the electric commercial vehicle industry. This electric commercial 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. The global commercial electric vehicles market 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 commercial electric vehicles market is expected to grow from $357.44 billion in 2027 at a CAGR of 32.2%. During the historic period, government subsidies on electric commercial vehicles contributed to the growth of the electric commercial vehicle market. For instance, according to the Government of India Budget 2022-23, the faster adoption and manufacturing of hybrid and electric vehicles (FAME) scheme will provide a subsidy of up to INR 2908 crores. Similarly, according to the Uttar Pradesh government's Manufacturing and Mobility policy 2022, all-electric vehicles will be subsidized including bikes, scooters, three-wheelers, and cars. As part of this new policy, the state government will offer subsidies of up to Rs 1 lakh for electric cars for three years. The subsidies were given to three and four-wheeled electric vehicles for commercial and fleet applications. The market is being driven by the government's support for the use of commercial electric vehicles. The growth of the electric commercial vehicle market is restrained by limited battery power and longer charging duration. For electric commercial vehicles, the range and performance of the battery are typically less powerful and have a limited range (60-100 miles per charge), and are considered suitable only for short-distance travel. The limited travel range of electric vehicle batteries raises consumer concerns that their vehicles will run out of charge/power before arriving at their destination. Charge duration is another major challenge for the market. The lack of availability of supercharging stations adds to the woes associated with the use of batteries in electric vehicles. For example, according to the Alternative Fuels Data Center, in the USA in 2020, there will be around 76,000 public charging stations, compared to 168,000 stations that serve gas. When surveying USA customers about purchasing electric vehicles, more than half of the respondents indicated that they wouldn’t buy an EV due to a lack of charging stations. Therefore, these factors are major restraints for the electric commercial vehicle market during the period. Electric commercial vehicle companies are implementing strategic partnerships for the production of electric commercial vehicles. Strategic partnerships in electric commercial vehicles involve the sharing of resources and expertise that enhance the product and multiply the results. It attracts popularity from consumers and other stakeholders, helping to increase the investment while reducing costs. For instance, in 2020, in South Korea, Hyundai Motor Company and Kia Motors Corporation strategically partnered and are investing €100 million (about $110 million) in a UK-based electric vehicle startup company, 'Arrival,' for developing electric commercial vehicles such as eco-friendly vans and commercial vehicles for logistics. In August 2021, Ideanomics, a US-based company focused on driving the adoption of commercial electric vehicles and associated energy consumption, acquired VIA Motors International for an undisclosed amount. Through this acquisition, Ideanomics will leverage highly complementary products to increase Ideanomics market reach and foster prospects for joint development and marketing. VIA Motors International is a US-based manufacture commercial electric vehicles. Major players in the electric commercial vehicles market are BYD, Proterra, AB Volvo, Daimler AG, Nissan, ABB, Scania AB, Tesla, Nikola Motor Company, and Tata Motors. Asia-Pacific was the largest region in the electric commercial vehicles market in 2022. North America was the second largest region in the global electric commercial vehicles market. The regions covered in the global electric commercial vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric commercial vehicles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The electric commercial 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 global electric commercial vehicles market is segmented - 1) By Propulsion Type: BEV, PHEV, FCEV 2) By Vehicle Type: Electric Bus, Electric Truck, Electric Pick-up Truck, Electric Van 3) By Battery Type: Lithium-iron-phosphate (LFP), Lithium-nickel-manganese-cobalt oxide (NMC), Other Battery Types 4)By Technology: Battery Electric Commercial Vehicles, Plug-in Hybrids, Hybrids, Fuel Cell Electric Commercial Vehicles

An electric car is an electric vehicle that runs on a chargeable battery such as a nickel-metal hydride (NI-MH) battery, lithium-ion battery, or fuel cell battery. The main types in the electric car market are battery electric vehicles (BEV), plug-in hybrid electric vehicles (PHEV), and hybrid electric vehicles (HEV). Battery electric vehicles operate only on stored electricity, and their main components consist of a high-voltage battery, one or more electric motors (either alternating current [AC] or direct current [DC]), and a controller for managing the power electronics. The battery types involved are lithium-iron-phosphate (left), lithium–nickel–manganese cobalt oxide (li–nmc), lithium–titanate oxide (to) battery, lithium–nickel–cobalt–aluminum oxide (NCA) battery, nickel-metal hydride (NIMH) battery, lead-acid battery. The applications involved are home use and commercial use. The electric car market research report is one of a series of new reports from The Business Research Company that provides electric car market statistics, including electric car industry global market size, regional shares, competitors with an electric car market share, detailed electric car market segments, market trends and opportunities, and any further data you may need to thrive in the electric car industry. This electric car market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global electric cars market 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 global electric cars market size 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 electric car 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. 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 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. Major players in the electric cars market are Toyota, BMW, BYD, Tesla, BMW, Volkswagen, General Motors, BAiC Motors, SAIC, and Daimler AG. Asia-Pacific was the largest region in the electric cars market in 2022. Western Europe was the second largest market in the global electric cars market. The regions covered in the global electric car market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric cars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The electric car 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 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

Electronic bikes are battery-powered bikes that resemble gas-powered bikes but require electric power to operate. Electric bikes are equipped with an integrated electric motor driving system and a battery that produces power for causing or assisting propulsion. The main types of classes in electric bikes are class-I, class-II, and class-III. Class-I is a type of electric bike that has an electric motor and works only while pedaling. The different motor types include mid-motor, hub motor and have various battery types such as lead-acid, lithium-ion (Li-ion), nickel-metal hydride (NiMH), others. It is used in several applications including mountain or trekking, city or urban, cargo, and others. The electric bikes market research report is one of a series of new reports from The Business Research Company that provides electric bikes market statistics, including electric bikes industry global market size, regional shares, competitors with a electric bikes market share, detailed electric bikes market segments, market trends and opportunities, and any further data you may need to thrive in the electric bikes industry. This electric bikes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global electric bikes market size grew from $43.22 billion in 2022 to $49.54 billion in 2023 at a compound annual growth rate (CAGR) of 14.6%. 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 bikes market size is expected to grow to $85.62 billion in 2027 at a CAGR of 14.7%. The implementation of government regulations to encourage the use of electric bikes is expected to propel the growth of the electric bikes market in the coming years. Electric bikes have a longer range and are easier to use, allowing users to travel without sweating, pull bigger loads, run more errands, and take longer journeys. For instance, in 2021, the FAME India Scheme (Faster Adoption and Manufacturing of (Hybrid & Electric Vehicles) was implemented with a budget of $1.36 billion and it focuses on the electrification of public and shared transportation. Furthermore, in 2021, the California state budget committed $10 million to the Air Resources Board to implement the e-bike rebate program by July 2022. Therefore, the implementation of government regulations to encourage electric bikes drives the electric bikes market. Technological advancements are shaping the electric bikes market. Major companies operating in the electric bikes sector are focused on developing technological solutions for electric bikes to meet customer demand and strengthen their position. For instance, in September 2021, Bosch, a Germany-based technology company has unveiled its new Smart System, a comprehensive package that includes innovative digital advances, such as a new mobile app and wireless remote control, to improve the digitalization of bikes utilizing the company's drivetrain system. Riders may set riding modes, automatically record activity, and integrate fitness apps including Apple Health with the new mobile app. In January 2022, TVS Motor Company, an Indian motorcycle manufacturer, acquired Swiss E-mobility Group (SEMG). The acquisition is TVS motors’ step towards developing eco-friendly transport solutions for their customers to advance towards a sustainable future. SEMG is the largest Swiss e-bike manufacturer. Major players in the electric bikes market are Accell Group, Derby Cycle AG, Tianjin Fuji-ta Group, Giant Bicycles, Mahindra & Mahindra, Merida Industry Co. Ltd., Pedego Electric Bikes, Tianjin Golden Wheel Bicycle Group Co Ltd., Trek Bicycle Corporation, Pon Bicycle Holding B.V., VanMoof, FRITZMEIER Systems GmbH & Co. KG, Gocycle, Klever Mobility, and Panasonic. Asia-Pacific was the largest region in the electric bikes market in 2022. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the electric bikes report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the electric bikes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The electronic bikes market consists of sales of e-moped, e-cycles and e-scooters.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 global electric bikes global market is segmented - 1) By Class: Class-I, Class-II, Class-III 2) By Motor Type: Mid Motor, Hub Motor 3) By Battery Type: Lead Acid, Lithium ion (Li-ion), Nickel-Metal Hydride (NiMH), Other Battery Types 4) By Application: Mountain Or Trekking, City Or Urban, Cargo, Other Applications

Electric bicycles, often known as e-bikes or eBikes, are motorised bicycles with built-in electric motors that help with propulsion. Electric scooters frequently resemble motorcycles and are plug-in electric vehicles with two or three wheels and an electric motor. The main types in the electric bike and scooter market are electric bikes and electric scooters. An electric bike is a bicycle equipped with an electric motor that is activated to assist with or replace pedaling. The battery types involved are lead-acid, lithium-ion (li-ion), nickel-metal hydride (NiMH), and others. The voltage capacities involved are 48–59 V, 60–72 V, 73–96 V, and above 96V. The drive mechanism types involved are hub motors, mid-drives, and other mechanisms. The electric bikes and scooters market research report is one of a series of new reports from The Business Research Company that provides electric bike and scooter market statistics, including global market size, regional shares, competitors with an electric bike and scooter market share, detailed electric bike and scooter market segments, market trends and opportunities, and any further data you may need to thrive in the electric bike and scooter industry. This electric bikes and scooters market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global electric bikes and scooters market grew from $23.38 billion in 2022 to $25.94 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The electric bikes and scooters market is expected to grow from $32.91 billion in 2027 at a CAGR of 6.1%. Increasing awareness about pollution is a key driver of the electric bike and scooter market. This is because more people now understand the importance of reducing pollution, and this awareness has led them to look for more environmentally friendly modes of transportation that minimise and control pollution. For example, according to a survey published by Forbes, due to an increase in awareness about pollution, the sales of electric bikes (e-bikes) have exceeded those of non-electric bikes in the Netherlands. The growth in the adoption of electric bikes and scooters is expected to continue in the coming years as the carbon dioxide emitted by the burning of fossil fuels remains a major threat to the environment, causing global warming and climate change. The lack of infrastructure for battery charging is a major restraint on the electric bike and scooter market. This is mainly because a lack of sufficient bike or scooter charging stations leads to a scarcity of battery charging stations and discourages people from purchasing electric bikes or scooters. For instance, according to express drive data 2021, electric two-wheelers are popular in India. However, the sales of electric two-wheelers remain way lower than conventional petrol ones. We don’t have an appropriate EV ecosystem and the charging stations are in very small numbers. So, in a bid to encourage people to buy EVs and to develop the EV ecosystem in India, eBikeGo has announced that they will install one lakh smart IoT-enabled charging stations in seven Indian cities. Improving battery technology is an emerging trend in the electric bike and scooter market. One such technological improvement of batteries includes the growing use of graphene batteries in electric bikes and scooters. The graphene batteries use electrolytes based on a super-thin material called graphene, which enables faster charging time, higher capacity, and lighter weight of the vehicles. In this regard, Earthday, a startup based in Barcelona, Spain, is working towards further enhancing the efficiency of graphene batteries to charge electric bikes and scooters in around five minutes. The electric bike and scooter market is regulated by the U.S. Congress enacted Public Law sections 107-319 and 107-322. This law pertains to the amendments required for the consumer product safety act and defines stern regulations to be followed with retrospect to the speed of electric bikes. According to this law, the electric motor of the vehicle must be less than 750 watts, and the maximum speed of the bike driven by a person weighing 170 pounds should not exceed 20 mph. To comply with this law, the U.S. Consumer Product Safety Commission (CPSC) considers, approves, and certifies bikes that meet this definition for manufacture and sale at the federal level. Hence, regulations such as these regulate the electric bike and scooter market. In July 2022, the Rohatyn Group, a US-based asset management firm, acquired KJK Capital for an undisclosed amount. Through this acquisition, Rohatyn Group will expand in e-bikes. KJK Capital is a Europe-based manufacturer of electric bikes. Major players in the electric bikes and scooters market are Yadea, Jiangsu Xinri E-Vehicle Co. Ltd., Mahindra & Mahindra Ltd., BMW, Hero Electric, Yamaha, Sunra, Vmoto Limited, AIMA Technology Co. Ltd., Zhejiang Luyuan Electric Vehicle Co. Ltd., Terra Motors Group, and Prodeco Technologies L.L.C. Asia-Pacific was the largest region in the electric bikes and scooters market in 2022. This region is expected to remain the largest during the next five years. The regions covered in the global electric bikes and scooters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric bikes and scooters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The electric bikes and scooters market consist of sales of e-moped and e-cycles. 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 organisations 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 global electric bikes and scooters market is segmented - 1) By Product: Electric Bikes, Electric Scooters 2) By Battery: Lead-acid, Lithium-ion (Li-ion), Nickel-metal hydride (NiMh), Other Battries 3) By Voltage Capacity: 48-59V, 60-72V, 73-96V, Above 96V 4) By Drive Mechanism: Hub Motor, Mid Drive, Other Drive Mechanisms