{"id":176,"date":"2021-05-19T14:21:52","date_gmt":"2021-05-19T14:21:52","guid":{"rendered":"https:\/\/www.innoviusresearch.com\/blog\/?p=176"},"modified":"2022-03-21T13:47:54","modified_gmt":"2022-03-21T13:47:54","slug":"global-electric-vehicle-market","status":"publish","type":"post","link":"https:\/\/www.innoviusresearch.com\/blog\/market-report\/global-electric-vehicle-market\/","title":{"rendered":"Global Electric Vehicle Market"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\"><strong>Overview<\/strong><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\">An <strong>Electric Vehicle (EV) <\/strong>is one that runs on electricity rather than an internal-combustion engine, which produces power by burning a mixture of gasoline and gases. As a result, such a vehicle is seen as a potential substitute for current-generation automobiles in order to solve issues such as increasing emissions, global warming, depleting natural resources, and so on.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Global Robo-Taxi Market Size and Potential Growth<\/strong><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\">In <strong>2020<\/strong>, the <strong>Global Electric Vehicle <\/strong>market was valued at <strong>$246.74 billion<\/strong>. The global Electric vehicle market is expected to grow and reach <strong>$1299.3 billion <\/strong>by <strong>2030<\/strong>. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">During the forecasted period 2021-2030, the global Electric Vehicle market will be growing approximately at a <strong>CAGR of 18.07%<\/strong>. <\/p>\n\n\n\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6580330613220222\"\n     crossorigin=\"anonymous\"><\/script>\n<ins class=\"adsbygoogle\"\n     style=\"display:block; text-align:center;\"\n     data-ad-layout=\"in-article\"\n     data-ad-format=\"fluid\"\n     data-ad-client=\"ca-pub-6580330613220222\"\n     data-ad-slot=\"2367613624\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script>\n\n\n\n<p class=\"wp-block-paragraph\">In order to solve issues such as increasing emissions, global warming, depleting natural resources and the investment by the world&#8217;s leading companies have fueled the development of the EV sector.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-style-twentytwentyone-border\"><img decoding=\"async\" src=\"https:\/\/innoviusresearch.s3.ap-south-1.amazonaws.com\/blog\/market-research\/gp+5.jpg\" alt=\"Graph-1-Innovius-Research\"\/><figcaption><em>Global Electric Vehicle Market Size During 2020-2030 ($Billion)<\/em><\/figcaption><\/figure>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Market Segmentation<\/strong><\/h5>\n\n\n\n<figure class=\"wp-block-image size-large is-resized is-style-twentytwentyone-border\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/innoviusresearch.s3.ap-south-1.amazonaws.com\/blog\/market-research\/gp+4.jpg\" alt=\"Graph-2-Innovius-Research\" width=\"618\" height=\"285\"\/><\/figure>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Market Share<\/strong><\/h5>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Global Electric Vehicle Market Share, By Type<\/strong><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\">In <strong>2020,<\/strong> it is estimated that the <strong>Hybrid Electric Vehicle (HEV) <\/strong>segment captured a market share of <strong>66%<\/strong> out of the total global EV market by Type. Whereas, the <strong>Battery Electric Vehicle (BEV) <\/strong>segment and <strong>Plug-in Hybrid Electric Vehicle (PHEV) <\/strong>held approximately <strong>17%<\/strong> each.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-style-twentytwentyone-border\"><img decoding=\"async\" src=\"https:\/\/innoviusresearch.s3.ap-south-1.amazonaws.com\/blog\/market-research\/gp+1.jpg\" alt=\"Graph-3-Innovius-Research\"\/><figcaption><em>Global Electric Vehicle Market Share, By Type 2020 (%)<\/em><\/figcaption><\/figure>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Global Electric Vehicle Market Share, By Vehicles<\/strong><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\">In <strong>2020,<\/strong> it is estimated that the <strong>Passenger Vehicle <\/strong>segment captured the market share of approximately <strong>45 %<\/strong> out of the total global EV market by vehicles. Whereas, the Commercial vehicles segment held approximately 33% and the <strong>Others<\/strong> Vehicle segment held approximately <strong>22%.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-style-twentytwentyone-border\"><img decoding=\"async\" src=\"https:\/\/innoviusresearch.s3.ap-south-1.amazonaws.com\/blog\/market-research\/gp+3.jpg\" alt=\"Graph-4-Innovius-Research\"\/><figcaption><em>Global Electric Vehicle Market Share, By Vehicles 2020 (%)<\/em><\/figcaption><\/figure>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Global Electric Vehicle Market Share, By Region<\/strong><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\">In 2020, it is estimated that the Europe region captured the highest market share of approximately 45% out of the total global Electric Vehicle market. Whereas, the Asia-Pacific region held approximately 39% of the total market share followed by <strong>North America (10%) and the Rest of the world (6%)<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-style-twentytwentyone-border\"><img decoding=\"async\" src=\"https:\/\/innoviusresearch.s3.ap-south-1.amazonaws.com\/blog\/market-research\/gp+2.jpg\" alt=\"Graph-5-Innovius-Research\"\/><figcaption><em>Global Electric Vehicle Market Share, By Region 2020 (%)<\/em><\/figcaption><\/figure>\n\n\n\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6580330613220222\"\n     crossorigin=\"anonymous\"><\/script>\n<ins class=\"adsbygoogle\"\n     style=\"display:block; text-align:center;\"\n     data-ad-layout=\"in-article\"\n     data-ad-format=\"fluid\"\n     data-ad-client=\"ca-pub-6580330613220222\"\n     data-ad-slot=\"2367613624\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Data Sources: <a href=\"http:\/\/www.mordorintelligence.com\" title=\"www.mordorintelligence.com\" target=\"_blank\" rel=\"noreferrer noopener\">Modor Intelligence<\/a>, <a href=\"http:\/\/www.sciencedirect.com\" title=\"www.sciencedirect.com\" target=\"_blank\" rel=\"noreferrer noopener\">Science Direct<\/a>, <a href=\"https:\/\/www.prnewswire.com\/\" target=\"_blank\" rel=\"noreferrer noopener\" title=\"https:\/\/www.prnewswire.com\/\">PRNewswire<\/a><\/strong>, <strong><a href=\"http:\/\/alliedmarketresearch.com\" title=\"alliedmarketresearch.com\" target=\"_blank\" rel=\"noreferrer noopener\">AlliedMarketResearch<\/a><\/strong>, <strong><a href=\"http:\/\/www.fortunebusinessinsights.com\" title=\"www.fortunebusinessinsights.com\" target=\"_blank\" rel=\"noreferrer noopener\">Fortune Business Insights<\/a><\/strong>, <strong><a href=\"http:\/\/www.marketsandmarkets.com\" title=\"www.marketsandmarkets.com\">Markets and Markets<\/a><\/strong>, <strong><a href=\"http:\/\/verifiedmarketresearch.com\" title=\"verifiedmarketresearch.com\">Verified Market Research<\/a><\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><em>To know more about this market study&nbsp;<strong><a href=\"https:\/\/www.innoviusresearch.com\/contact-us.php\">Contact Now<\/a><\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Read more&nbsp;<strong><a href=\"https:\/\/www.innoviusresearch.com\/blog\/category\/market-report\/\">Market Reports<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Overview An Electric Vehicle (EV) is one that runs on electricity rather than an internal-combustion engine, which produces power by burning a mixture of gasoline and gases. As a result, such a vehicle is seen as a potential substitute for current-generation automobiles in order to solve issues such as increasing emissions, global warming, depleting natural&hellip; <a class=\"more-link\" href=\"https:\/\/www.innoviusresearch.com\/blog\/market-report\/global-electric-vehicle-market\/\">Continue reading <span class=\"screen-reader-text\">Global Electric Vehicle Market<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":178,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[10],"tags":[],"class_list":["post-176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-report","entry"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.8 - aioseo.com -->\n\t<meta name=\"description\" content=\"In 2020, the Global Electric Vehicle market was valued at $XX billion. 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