Press Releases

The report "Electric Vehicle (EV) and Electric Vehicle (EV) Infrastructure Market by Vehicle Type (Passenger Cars, Commercial Vehicle), Charging Station (Normal, Super), Propulsion Type (BEV, PHEV, FCEV) - Global Forecast to 2030", size is estimated to reach 3.5 million units in 2020. The EV and EV infrastructure market is primarily driven by strong government intent towards its pledge to reduce air pollution through favorable policies, tax rebates, and subsidies. Moreover, advancements in the technology is helping in substantial cost cuts. This will increase its affordability to the people of lower section of the society in the developing world. Key enablers include development in the battery chemistry, redesigning of vehicle manufacturing platforms, and the use of big data in developing efficient batteries.

By vehicle type, the passenger cars segment accounted for the largest share of the EV and EV Infrastructure market in 2019.

By vehicle type, the global EV and EV infrastructure market is bifurcated into passenger cars and commercial vehicles. In 2019, the passenger cars segment accounted for the largest share in the overall market. This share is attributed to robust initiatives by France, Italy, Canada, the United Kingdom, the United States and other developed economies to improve the adoption of EVs. For instance, French government in May 2020, announced to introduce USD 8.8 billion plan to revive electric vehicle industry in the nation which faced ripples due to COVID-19 pandemic. This will include government sponsored subsidies for new buyers, funding to clean energy technologies, including battery powered vehicles. However, as a consequence of the outbreak of COVID-19, the global automobile industry is experiencing a slowdown owing to a lockout in several countries with restricted development of electric vehicles.

By charging station, the normal charging station segment accounted for the largest share of the market in 2019.

On the basis of charging station, the EV and EV infrastructure market is categorized into normal and super charging stations. In 2019, the normal charging station segment accounted for largest share in the EV and EV infrastructure market. The segment is also expected to register highest growth rate among the two. By investing heavily in charging infrastructure, government stimulus packages in the future could enable the EV economy to overcome the economic crisis triggered by COVID-19. Recently, in 16th June 2020, Australian government owned Clean Energy Finance Corporation (CEFC) bought stake of USD 3.5 million in Jet Charge, an electric vehicle charging station company, to help in rolling out electric charging stations to lower costs for vehicle owners.

Global Electric Vehicle (EV) and Electric Vehicle (EV) Infrastructure Market Segmentation and Key Players

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“North America to hold the largest regional market share in 2019.”

North America had a large market share in terms of sales in 2019. This share is attributed to the increasing need for electric cars in the United States. Canadian government introduced Project Arrow, in January 2020 to connect industry, academia network to fasten it goal of zero emission concept vehicle. In line with this recently, in May 2020, partly funded by government, Coquitlam, announced five more user pay charging facility by 2021, totaling to its overall 13 electric charging station across the country. Moreover, Electrify America, a company established to promote the introduction of EV, reported an intention to spend USD 200.0 million in 2018 in California. As a result, the market for EVs in North America is expected to rise over the projected period.

Some of the major players in the market for electric vehicle and electric vehicle infrastructure are Tesla, BYD, BMW, Volkswagen, Nissan, LG Chem, Panasonic, Chery, SAIC, and Bosch, among others. Tesla is one of the leading players on this market. The company continuously delivers new advanced electric vehicles and charging technologies. Despite the effect of COVID-19, Tesla sold more than 88,000 electric vehicles in the first quarter of 2020, surpassing deliveries of Volkswagen.

Global Electric Vehicle (EV) and Electric Vehicle (EV) Infrastructure Market Coverage

Vehicle Type Insight and Forecast 2025-2030

• Passenger Car
• Commercial Vehicle

Charging Station Insight and Forecast 2025-2030

• Normal
• Super

Propulsion Type Insight and Forecast 2025-2030

• BEV
• PHEV
• FCEV

Geographical Segmentation

Electric Vehicle (EV) and Electric Vehicle (EV) Infrastructure Market by Region

North America

• By Vehicle Type
• By Charging Station
• By Propulsion Type
• By Country – U.S., Canada, and Mexico

Europe

• By Vehicle Type
• By Charging Station
• By Propulsion Type
• By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

• By Vehicle Type
• By Charging Station
• By Propulsion Type
• By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

• By Vehicle Type
• By Charging Station
• By Propulsion Type
• By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries