The electric car market will go grow at the rapid pace in the near future. The European market is expected to grow the fastest in the forecast period because of the stringent emission regulations and policies on the installation of charging stations, long with the huge perks on buying the EVs, in the region.
Major market players are coming together with local players, to develop more advanced electric cars, and to meet the needs of targeted market. For instance, SAIC Motor with Volkswagen Group, is working in China for the development of electric cars. Also, Great Wall Motor Co. Ltd and BMW group is planning to come together to form an electric vehicle joint venture.
Government rules related to vehicle emissions of greenhouse gases is the main reason behind the success of electric car market. Over last one decade the emission of hazards gases has increased significantly. To control the effects of these gases on the environment many actions have been taken all over the world, such as Netherlands is all set to archive the target of 100% EVs by 2030.
The scope of electrical vehicle market in India is unimaginably wide, with new stakeholders showing an increasing interest with every day passing. But it is having its own barriers. Right now, electric passenger cars and buses are the only active ventures. The main reason behind legging out is the country is not equipped with sufficient charging station. But with largest government push, the hopes and scope of the venture is very high.
Economical EV’s are expected to grow at the fastest pace during the forecast period, and also expected to grow faster in the Asia-Pacific region in compare to other market, due to the0 cost efficiency. The cost of EV batteries has been decreasing significantly in past decade. Due to the enhancement in technology and the mass production of batteries.
This growth in electrical industry is attracting sustainable investments. One of the dimensions of EV ecosystem finance and investment allowing stake holders to capitalize on this growth with private equity and venture. Capitalist investors hiking their investment.
China is one the main key players in the EVs market, with count of 85% of the world fast charger and 55% of slow charger China is dominating the market in compare to others with huge difference.
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This study covers
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the market and their service offerings
