Global Electric Vehicles Market Expected To Grow At A CAGR Of 18.35% From 2016 To 2020

Global Electric Vehicles Market Expected To Grow At A CAGR Of 18.35% From 2016 To 2020

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    An electric vehicle (EV), also referred to as an electric drive vehicle, uses one or more electric motors or traction motors for propulsion. An electric vehicle may be powered through a collector system by electricity from off-vehicle sources, or may be self-contained with a battery or generator to convert fuel to electricity. EVs include road and rail vehicles, surface and underwater vessels, electric aircraft and electric spacecraft.

    The most common electric vehicles mainly include Railway trunk electric vehicles, Subway electric vehicles, City trams, Light rail electric vehicles and so on.
    Global Electric Vehicles Market Analysis, by Types, 2015


    According to the investigation, the global electric vehicles market is expected to grow as consumers around the world are seeking to lower their fuel expenditure. Growing government initiatives, rising environmental concerns and availability of electric vehicles at affordable prices are some of the factors affecting market growth.

    The global electric vehicles market was estimated to reach USD 145.22 billion in 2015, and is expected to grow at a CAGR of 18.35% from 2016 to 2020. On the basis of type, electric cars will occupy the main position in the market during the forecast period. In terms of geography, North America was the largest market in 2015, and occupied about 35% of the global electric vehicles market, and will continue to maintain in the forecast period. This is due to the strong support of the U.S. government and enhanced awareness of environmental protection. Asia Pacific region will be the fastest growing market for electric vehicles.

    Some of the key players in the electric vehicles market are Mitsubishi Motors (Japan), Toyota Motors (Japan), Nissan Motors (Japan), Tesla Motors (U.S.), Renault (France), General Motors (U.S.), Smith Electric Vehicles (U.S.).

    Read Full Report:

    The report firstly introduced the Electric Vehicles (EV) basics: definitions, classifications, applications and industry chain overview; industry policies and plans; product specifications; manufacturing processes; cost structures and so on. Then it analyzed the world’s main region market conditions, including the product price, profit, capacity, production, capacity utilization, supply, demand and industry growth rate etc. In the end, the report introduced new project SWOT analysis, investment feasibility analysis, and investment return analysis.

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    Joanna | Executive – International Business and partner Relations
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