Global Electric Vehicle Market (EV) to generate USD 1869.87 Billion by 2030, Outlines a New Report by Next Move Strategy Consulting

EVs can be powered by collector systems like charging stations, inbuilt generators, or solar panels that convert solar energy into electricity, therefore reducing the growth of carbon emission drives the global EV industry.

New York, Jan. 17, 2023 (GLOBE NEWSWIRE) -- According to a report published by Next Move Strategy Consulting, the global Electric Vehicle Market generated USD 273.38 billion in 2021 and is projected to reach USD 1869.87 billion by 2030, registering a CAGR of 24.4% from 2022 to 2030. The research offers a detailed analysis regarding drivers, restraints, and opportunities to highlight changing market dynamics of the market. Moreover, the research provides an extensive analysis of major segments and their sub-segments to determine fastest-growing and highest revenue-generating segments.

Equipping the extensive analysis of each and every aspect of the market in 968 pages, accompanied by 800 tables and 765 figures, the report aims to become a source of guidance for market players, investors, and startups as they device strategies for next few years to achieve sustainable growth.

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Report CoverageDetails
Forecast Period 2022–2030
Base Year 2021
Market Size in 2021USD 273.38  Billion
Market Size in 2030USD 1869.87 Billion
No. of Pages968
Segments CoveredVehicle components, type, class, top speed, drive type, charging point type, vehicle connectivity, propulsion type, end user, charging standard, and geography.
DriversGrowing environmental pollution owing to conventional transports
Stringent government regulation over increasing carbon emission
Increasing sustainable developments plans
OpportunitiesIntroduction of self-driving electric vehicles

The report provides an extensive analysis of the changing market trends in the electric vehicle industry based on drivers, restraints, and opportunities. Increasing fuel prices, government initiatives, and decreasing prices of electric batteries drive the growth of the global electric vehicle market. However, the high costs of electric vehicles hamper the market growth.

Lead Analyst for the ‘automotive & transportation’ at Next Move Strategy Consulting stated, “the introduction of self-driving vehicles by various manufacturers would create new opportunities in the coming years.”

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Asia-Pacific accounted for the highest EV market share in 2021 and is estimated to maintain its dominance throughout the forecast period. This is attributed to the presence of key market players, such as Honda Motor Company, Geely Motors, BYD, Toyota Motor Corporation, and Tata Motors, that are adopting growth strategies such as product launches, investments, and business expansion across regions to propel the market growth.

On the other hand, Europe electric vehicle market is projected to register a steady growth rate throughout the forecast period owing to improved charging infrastructure, low production costs, and government efforts to reduce carbon emissions generated by the transportation sector.

The report offers an analyzes of each regions based on segments and their sub-segments using tabular and graphical formats. This analysis would help determine the next steps to be taken to raise the global electric vehicle market.

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The report offers a detailed analysis of the leading market players in the global EV industry.The key players analyzed in the research include Tesla Inc, BYD Auto Co., Ltd., BMW Motorrad, SAIC-GM-Wuling Automobile, Mercedes-Benz Group, Stellantis, Hyundai Motor Group, Volkswagen AG, Ford Motor Company, and Toyota Motor Corporation.

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Next Move Strategy Consulting is a premier market research and management consulting firm committed to providing strategically analyzed, well-documented, latest research reports to its clients. The research industry is flooded with many firms to choose from; what makes Next Move different from the rest is its top-quality research and the obsession with turning data into knowledge by dissecting every bit of it and providing fact-based research recommendations that are supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients make critical business decisions that enable them to move beyond time and have a competitive edge in the industry.

We have been servicing over 1,000 customers globally, including 90% of Fortune 500 companies over a decade. Our analysts constantly track various high-growth markets and identify hidden opportunities in each sector or industry. We provide one of the industry’s best-quality syndicate as well as custom research reports across ten different industry verticals. We are committed to delivering high-quality research solutions per your business needs. Our industry-standard delivery solutions range from pre-consultation to after-sales services, provide an excellent client experience and ensure the right strategic decision-making for businesses.


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