The global Electric Vehicle (EV) ecosystem market size is expected to reach USD 832.14 Billion in 2028 and register a revenue CAGR of 17.7% over the forecast period, according to the latest report by Emergen Research. Increasing Greenhouse gas (GHG) emissions from large transportation vehicles, rising demand for low emission vehicles, and increasing number of leading vehicle manufacturers focusing on the shifting trend towards EV are some key factors driving market revenue growth. Electric vehicles are designed with features and functionalities to enhance user convenience and reduce impact on the environment. These vehicles are powered by electric energy that is stored in batteries and are cheaper to use and maintain, and rising concerns regarding the negative impacts on the environment and resulting climate change and changing weather conditions are factors causing a steady shift away from conventional fossil fuel powered vehicles in various developed and developing countries.
The Global Electric Vehicle Ecosystem Market Research Report published by Emergen Research has been formulated by analysis of key business details and extensive geographical spread of the Electric Vehicle Ecosystem industry. The study offers comprehensive coverage of the qualitative and quantitative analysis of the Electric Vehicle Ecosystem market along with crucial statistical data about the Electric Vehicle Ecosystem market. The research study provides historical data from 2017 to 2018 and offers accurate forecast estimation until 2028. The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.
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Some Key Highlights from the Report
- In August 2021, European Sustainable Growth Acquisition Corp (ESGA) and a German battery charging system company, ADS-TEC Energy, have agreed to merge. This acquisition will promote energy management technology platform and enable ultra-fast charging using exiting and low power energy grid infrastructure. This will also increase the enterprise value of newly merged entity of approximately USD 580 million.
- Motor segment accounted for moderate revenue share in 2020 due to the numerous benefits such as low maintenance and reduced noise and vibrations as opposed to that of traditional cars.
- Mid-priced segment accounted for largest revenue share in 2020 due to higher preference for affordable cars and improved efficiency of these vehicles. EVs are becoming more affordable as the price of batteries continues to decrease over time.
- Battery Electric Vehicles (BEVs) are fully electric vehicles with rechargeable batteries. Additional benefits of BEVs include low emission rates and higher operating efficiency. These advantages as well as favorable government subsidies and schemes are driving adoption and revenue growth of the BEV segment.
- Market in Asia Pacific registered largest revenue share in 2020, with China being the largest revenue share contributor to the global market. In order to increase adoption of electric vehicles, governments in China, India, and Japan have been providing offering incentives and lowered tax levied on electric vehicles and this is driving a steady shift towards more eco-friendly vehicles in these countries.
Competitive Landscape:
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Key Companies Profiled in the Report:
Tesla Inc., BYD Company Motors, Volkswagen AG, BMW Group, Nissan Motors, Toyota Motors Corporation, Daimler AG, Ford Motor Company and SAIC Motor, and Hyundai Group.
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Emergen Research has segmented the global electric vehicle ecosystem market on the basis of component, vehicle class type, battery type, vehicle charging point type, and region:
Component Outlook (Revenue, USD Billion; 2018–2028)
- Motor
- Reducer
- Battery
- Power Control Unit
- Air Compressor
- Others
Vehicle Class Type Outlook (Revenue, USD Billion; 2018–2028)
- Mid-Priced
- Luxury
Battery Type Outlook (Revenue, USD Billion; 2018–2028)
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
Vehicle Charging Point Type Outlook (Revenue, USD Billion; 2018–2028)
- Level 1 Charging Type
- Level 2 Charging Type
- Level 3 Charging Type
Regional Segmentation;
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Market Dynamics:
The report offers insightful information about the market dynamics of the Electric Vehicle Ecosystem market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Electric Vehicle Ecosystem market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Electric Vehicle Ecosystem market.
Radical Highlights of the Electric Vehicle Ecosystem Market Report:
- Comprehensive overview of the Electric Vehicle Ecosystem market along with analysis of the changing dynamics of the market
- Growth Assessment of various market segments throughout the forecast period
- Regional and global analysis of the market players, including their market share and global position
- Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
- Impact of the technological developments and R&D advancements on the Electric Vehicle Ecosystem market
- Information about profit-making strategies and developmental strategies of major companies and manufacturers
- Insightful information for the new entrants willing to enter the market
- Details and insights about business expansion strategies, product launches, and other collaborations
- The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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