Automotive and Transportation
The global electric bus market is forecasted to reach 331,327 units by 2025, registering a CAGR of 16.6% during the forecast period. The market has witnessed a significant growth in the recent past owing to the strict government norms and regulations, rising government support for the electric vehicles, and the declining battery prices. ... Continue Reading
The global low emission vehicle market is growing at a significant rate, due to increasing availability of different hybrid electric vehicle models, development in battery technology, and increasing global prices of petroleum based fuel. The strict environmental regulations regarding controlling the increased pollutants from industrial emissions and vehicles are also ... Continue Reading
The global LSEV market attained a size of $35.2 billion in 2017 and is forecasted to reach $68 billion by 2025, registering a CAGR of 8.2% during 2018–2025. The major factors driving the market growth are increasing environmental awareness, initiatives and subsidies offered by the governments, and declining electric vehicle battery costs. ... Continue Reading
The global electric vehicle charging station market is being driven by increasing car parc of electric vehicles, up surging requirement of EV charging stations in corporations and institutions, and growing numbers of high net worth individuals (HNI). Car parc refers to the total number of cars in a particular region or country. With the growing concern of public and government towards environmental pollution, the electric vehicle sales have surged in the recent past. ... Continue Reading
The APAC electric scooters and motorcycles market is forecasted to reach 31.2 million units by 2025, registering a CAGR of 7.6% during the forecast period. The market has witnessed a significant growth in the recent past, owing to the rapid urbanization in the growing economies of APAC, rising demand for light vehicles in the small cities and towns of the region, and the public awareness initiatives about the degrading air quality in the region. ... Continue Reading
The policy makers of various countries are focusing on public transit infrastructure with no or low pollution to tackle the air pollutant emissions, mainly in the densely populated cities and megacities. The air pollution caused due to fossil-fuel driven vehicle has become a major global concern. This in turn, has enforced the policy makers to look for an alternative, such as low emission vehicles. The natural gas based public transit is still the most dominant alternative of fossil-fuel based public transit; however, the... Continue Reading
The global automotive battery market is anticipated to witness a steady growth during the forecast period due to increasing end users’ preference for zero-emission hybrid and electric vehicles, owing to falling battery price, reducing crude oil reserves, and environmental effect of conventional automobiles. ... Continue Reading
Natural gas is the cleanest burning fossil fuel and consequently has the emissions advantage over diesel and gasoline. Owing to their low emission properties, the environmental protection agency (EPA) has been able to set stricter emission mandates (particularly with NOx and atmospheric particulate matter reductions) that forced expensive diesel emission technology to be created to be as environmental friendly as natural gas. Both CNG and LPG ... Continue Reading
The Indian electric bus market is forecasted to reach 4,056 units by 2025, registering a CAGR of 38.0% during the forecast period. The market has recently witnessed a significant growth, mainly driven by the strict government emission norms and regulations, and government support in the form of subsidies and grants. The declining battery prices coupled with advancements in battery technology is also expected to boost the industry growth during the forecast period. ... Continue Reading
The demand for electric buses in the Europe has augmented dramatically over the last decade. The market in the country is predominantly driven by rising air quality concerns, high dependence on conventional or non-renewable fuels, strong environmental ethics and the growing need to assimilate renewables into a network. Penetration of charging infrastructure also plays an important role in market development. ... Continue Reading
The global electric scooter and motorcycle market size is expected to reach $13,864.0 million by 2025, growing at a CAGR of 7.3% during the forecast period. The tax concession on eco-friendly vehicles, growing environmental concern for carbon emission, and low maintenance cost of electric vehicle (EV) are the major factors driving the market growth. ... Continue Reading
The global electric car market sales are estimated to be 927,485 units in 2017, witnessing a CAGR of 33.6% during the forecast period. The stringent emission norms all across the globe coupled with government subsidies and incentives for EVs is the major factor driving the market for electric cars. ... Continue Reading
The subsidy being offered for the electric vehicles in China could be close to $7,000 depending upon the battery size. The subsidy is received by the company based on the electric car sales. Many companies put sub-standard parts in the car to receive the subsidy. Moreover, companies also inflated their car sales figures to receive the subsidy. Such incidences have put a bad name for the Chinese electric vehicles and affected the consumer perception for electric cars. Now, the government has plans to stop the subsidy in th... Continue Reading
The Indian electric car market size was valued at $71.1 million in 2017 and is projected to reach $707.4 million by 2025, witnessing a CAGR of 34.5% during the forecast period. Government schemes and subsidies are playing a major role in the growth of the market. In addition, the growing environmental concerns owing to high pollution levels in major cities of the country are also positively affecting the market growth. ... Continue Reading
Lack of sufficient number of recharging stations is a major constraint for the electric car market growth. There are around 16,000 public recharging stations in the U.S., with majority being slow charging stations. Moreover, these too are unevenly distributed and concentrated in only the key cities. More recharging stations along with fast DC recharging stations would be required over the forecast period to match the projected sales of electric cars. ... Continue Reading
A typical car customer in major economies, such as India and China, is highly cost sensitive. Even though the running cost of an electric car is low (6kms per 1KWh), it is the high battery cost, which increases the upfront or showroom price of electric car, making owning expensive for an average customer. High upfront cost of an electric cars could slow down its sales in the region. However, declining prices of lithium-ion batteries over the last few years is a positive sign for the Asia-Pacific electric car market. ... Continue Reading
The value chain of electric vehicles is still underdeveloped in Europe. Apart from the recharging stations, the value chain includes the battery manufacturing, procurement and sourcing of various parts used in an electric car. The development of electric car market would require significant funding from the existing manufacturers and OEMs to develop electric versions of their existing car models. Apart from this, additional electricity used for charging the car batteries would need to be compensated by generating more ele... Continue Reading
The Indian electric scooters and motorcycles market is projected to reach 757,900 units by 2025, registering a CAGR of 42.9% during the forecast period. The market has witnessed significant growth in the recent past owing to strict norms and regulations pertaining to environmental, government incentives, and rising environmental awareness. ... Continue Reading
The North American electric scooters and motorcycles market estimated a value of $154.8 million in 2018 and is expected to grow at a CAGR of 28.4% during 2019–2024. This is mainly attributed to favorable government incentives and federal tax credits, emergence of electric scooter sharing fleet, and low maintenance requirement for these two-wheelers. ... Continue Reading
China electric scooters and motorcycles market size stood at $7.7 billion in 2017 and is projected to reach $12.5 billion by 2025, at a CAGR of 6.1% during the forecast period. While the government support in the form of subsidies and regulations have been less for electric scooters and motorcycles (when compared to other electric vehicles) and the infrastructure in the form of battery swapping facilities and recharging stations is not adequate, the market is still expected to grow in medium to long term driven by growing... Continue Reading
Electric bus market in Brazil registered a CAGR of 212.7% during 2013 – 2016, recording a shipment of over 2,000 units in 2016. The market in Brazil is currently in its nascent phase, though it is expected to grow significantly after 2017. The growth of this market in Brazil is chiefly attributed to the growing demand to reduce dependency on fossil fuels. ... Continue Reading
The U.S. electric bus market is estimated to reach $745.2 million in 2018 and is projected to reach $1,948.5 million by 2024, witnessing a CAGR of 18.5% during the forecast period. Growing support of the U.S. federal and local governments for electric buses in addition to the enactment of stringent emission norms is anticipated to drive the market in the country in the near future. ... Continue Reading
The Chinese electric bus market is attained a size of 112,966 units in 2017 and is forecasted to reach 299,866 units by 2025, registering a CAGR of 15.9% during 2018–2025. The market witnessed a significant growth in the historical period, mainly driven by government subsidies. Increasing government support and falling battery costs are expected to drive the sales of these buses during the forecast period. ... Continue Reading
The global electric truck market is forecasted to reach 1,508.1 thousand units by 2025, registering a CAGR of 18.5% during the forecast period. The market has witnessed a significant growth in the recent years, owing to low operating and maintenance cost of these trucks, governments’ regulations and incentives, and declining battery price. ... Continue Reading
Hybrid electric car market is estimated to be valued at $57,164.8 million in 2017 and is projected to reach $1,38,023.3 million by 2023, witnessing a CAGR of 16.7% during the forecast period. The stringent emission norms and falling battery prices in different regions are some of the main factors driving the market growth. ... Continue Reading
Global automotive regenerative braking systems market is estimated to be valued at $6,555.6 million in 2017, and is expected to witness a CAGR of 18.6% during the forecast period. The industry is driven by the increasing demand of eco-friendly and fuel-efficient vehicles. ... Continue Reading
The solar powered vehicles market size is expected to witness a notable growth during the forecast period, majorly driven by increased emphasis by governments of various countries to promote environment-friendly vehicles. Moreover, the declining prices of solar panels and technological advancements in the industry would continue to benefit the solar powered vehicles market during the forecast period. ... Continue Reading
The Indian electric rickshaw market is projected to reach 935.5 thousand units by 2024, registering a CAGR of 15.9% during the forecast period. The market has witnessed significant growth in the recent past, owing to rising environmental awareness, government incentives, and implementation of stringent regulations to curb environmental degradation. ... Continue Reading
The APAC LSEV market is projected to reach 71.8 million units by 2025, registering a CAGR of 6.6% during the forecast period. The market has witnessed significant growth in the recent past owing to increasing urbanization, favorable government policies, and declining battery prices. ... Continue Reading
The Indian electric passenger car market is poised to grow significantly during the forecast period, much of which can be owed to the incentives offered by government for vehicles with clean fuel technology. The government’s stringent emission norms and regulations have also helped to boost the sales of electric passenger cars in the country. ... Continue Reading
The global electric aircraft market size is projected to observe an extensive growth in the coming years due to increasing stringent emission norms related to aircraft industry coupled with increased investment in more efficient power electronics and high energy density batteries, and the requirement for new aircraft to meet the global air traffic demand. In addition, lower cost of ownership for the electric aircraft, is expected to boost the market in the near future. ... Continue Reading
The U.S. electric bus charging station market size was valued at $19.9 million in 2017 and is projected to reach $221.5 million by 2025, witnessing a CAGR of 34.7% during the forecast period. The growing number of electric bus fleets in the country and favorable government schemes and regulations are the major factors driving the market. ... Continue Reading
The APAC electric three-wheeler market is forecasted to amount to $11,935.1 million by 2023, registering a CAGR of 4.1% during the forecast period. The market has witnessed significant growth in the recent past, owing to low ownership cost, government support, environmental regulations, and declining battery prices. ... Continue Reading
The European electric bus charging station market is forecasted to grow at a significant rate in the coming years, owing to commercial roll-out of electric buses by the national governments of different countries in the region; incentives including tax reductions or exemptions, subsidies, and grants offered by the governments on the purchase of the electric buses; and technological innovations. ... Continue Reading
The global commercial electric vehicle market size is expected to cross 1,839.4 thousand units, growing at a CAGR of 18.1% during the period 2018–2025. The declining cost and improving operational efficiency of batteries, and long-term cost benefits of these vehicles are the major factors driving the market growth. ... Continue Reading
The global autonomous vehicle market has observed considerable technological development in the recent years, due to which the demand for these vehicles are gaining pace. Rising focus on vehicle safety backed by governments’ regulations to incorporate safety features in vehicle will aid the growth of the market. ... Continue Reading
