October 29, 2020

Electric Vehicle Market Forecast 2020 – 2027 – Top Key Players Analysis

GMI Research market report focuses on providing an overview of the industry through detailed market segmentation. The report has information related to the overview and scope of the market followed by the key drivers, restraints, and emerging trends in the market. This report is especially designed to include both qualitative and quantitative aspects of the industry in each region and country included in the study.

List of Significant Manufacturers in the Electric Vehicle Market include:

  • Tesla, Inc.
  • BYD Company Limited
  • Nissan Motor Company
  • BMW Group
  • Volkswagen AG
  • Volvo Group
  • Daimler AG
  • Honda Motor Co., Ltd.
  • Toyota Motor Corporation
  • Ford Motor Company
  • Hyundai Motor Company
  • Continental Engine
  • BAIC Motor Corporation, Ltd.
  • General Motors Company

Electric Vehicle Market Drivers and Restraints:

The rigorous government policies toward vehicle emission, growing demand for high-performance and fuel-efficient vehicles, along with the rising awareness to decrease oil consumption globally, are the key factors surging the growth of the electric vehicle market. Furthermore, the increasing investment in the manufacturing of electric vehicles by major players, including General Motors Company, Nissan Motor Company, BMW Group, Hyundai Motor Company, BAIC Motor Corporation, and Daimler AG, among others, will further boost the growth of the electric vehicle market over the upcoming years. Moreover, the growing convenience of consumers, include home charging options for electric vehicles, followed by the use of renewable energy sources, such as a solar photovoltaic system to recharge electric vehicles, will further upsurge the demand for the electric vehicle market.

The rising trend towards more eco-friendly production of electric vehicles and its components with the use of recycled materials and bioplastics will attract consumer interest towards buying electric vehicles. Many organization including LEVA (The Light Electric Vehicle Association), EVI (Electric Vehicle Initiative), WEVA (World Electric Vehicle Association), SMEV (Society of Manufacturers of Electric Vehicles), and EAA (Electric Auto Association) are supporting the growth and development of electric vehicles globally, which will further propel the adoption of electric vehicles. On the other edge of the spectrum, lack of charging infrastructure, and the high cost of electric vehicles will hinder the growth of the global electric vehicle market.

Segmentation: Electric Vehicle Market

Electric Vehicle Market: By Product Type

  • Battery Electric Vehicles (BEV)
  • Plug-in Hybrid Electric Vehicles (PHEV)
  • Fuel Cell Electric Vehicles (FCEV)

Electric Vehicle Market: By Vehicle Type

  • Two-Wheelers
  • Passenger Cars
  • Commercial Vehicles

Electric Vehicle Market: By Vehicle Class

  • Mid-Priced
  • Luxury

Electric Vehicle Market: By Charging station Type

  • Normal
  • Super

Electric Vehicle Market: By Two-Wheelers Battery Type

  • Lithium-ion Battery
  • Lead Acid Battery

Electric Vehicle Market: By Region

  • North America

o United States of America

o Canada

  • Asia Pacific

o China

o Japan

o India

o Rest of APAC

  • Europe

o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

  • RoW

o Brazil

o South Africa

o Saudi Arabia


o Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting firm which provides bespoke industry & market research to help businesses in making the toughest business decision. We know the significance of accurate data; that’s why our analyst uses a tailored methodology to study every market in detail because one size doesn’t fit all. We not only cover the traditional well-established market but also focuses on the niche market and markets in the emerging economies, where getting data and information is a challenge. This factor makes us pioneer in emerging market research space. Our syndicate reports cover multiple industries across various regions and countries.

Our in-depth market reports help propel your business with all the data, strategic inputs, and competitive intelligence to move ahead even in the most uncertain times. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research look forward to help businesses stay ahead of the curve.