The global electric mobility market size is expected to reach
USD 489,315.6 million by 2025 and register CAGR of 21.6% from 2019 to 2025,
according to a study conducted by Grand View Research, Inc. Electric mobility,
or E-Mobility or Electro Mobility is increasingly accounting for a significant
share of the global automotive industry and is changing the way mobility as a
concept is conceived by the end-user. Governments across the globe are
proactively adopting strategies promoting the adoption of electric vehicles
(EVs) with an aim of reach the goals related to climate change, dependence on
oil, local air quality, and industrial development. Government initiatives
aimed at reducing the global carbon footprint by minimizing the consumption of
conventional fuel, bringing down the cost of environment-friendly and
high-capacity batteries, and the growing consumer preference for shared
mobility are expected to drive the market over the forecast period.
Advances in E-sharing mobility services such
as shared taxi, ride sharing, and E-bike and car sharing are expected to
increase the consumption of EVs use globally. However, a lack of consumer
awareness pertaining to maintenance cost of EVs is a primary barrier to their
widespread adoption. Although the upfront cost of an EV exceeds that of cars
powered by IC engines, the reduction in battery cost have ultimately reduced
the costs of EVs to a great extent over the past four years. These favorable
trends with respect to cost, combined with changing consumer preferences, are
likely to enhance the adoption of EVs, thereby augmenting the growth of the
global market for electric mobility.
Geographically, Asia Pacific accounted for
over 53% E-mobility market share in 2018. This is majorly due to presence of
some of the leading producers of EVs in countries such as Japan, and China.
Moreover, several countries in the region are planning to ban the sales of
internal combustion engines and have set goals to achieve a certain share of
EVs in their vehicular fleet by certain years in the near future to promote the
uptake of cleaner vehicles. For instance, the Indian government has decided to
increase financial support for EVs to up to USD 1.3 billion under its second
phase of Faster Adoption and Manufacture of (Hybrid and) Electric Vehicles (FAME
II) scheme.
Some of the key players in the market for
E-mobility are Zero Motorcycles, Inc., Kinetic Green Energy & Power
Solutions Ltd., General Motors, Terra Motors, BYD Company Ltd., Vmoto Limited
ABN, Continental AG, Mahindra Electric Mobility Limited, ALTA MOTORS, Tesla,
Accell Group, and Nissan Motor Corporation. The transition to electric mobility
is opening lucrative opportunities for the existing as well as new market
entrants to operate with new business models across the value chain of the market.
Leading companies are focusing on acquisitions and expansion opportunities to
tap a larger share of the market.
For full research report on Electric
Mobility Market visit here: https://www.grandviewresearch.com/industry-analysis/electric-mobility-market
Further key
findings from the report suggest:
- Based on battery, the Li-ion segment is likely
to register the highest CAGR of 23.8% over the forecast period. Remarkable
growth prospects exist in the Li-ion battery market as battery suppliers
and manufacturers strive to offer safe, reliable, and cheap battery
solutions with improved energy density, making EVs a feasible option for
consumers
- In terms of product, the electric car segment
accounted for the dominant revenue share of the electric mobility market
in 2018 and is estimated to retain its dominance over the forecast period
as well
- By voltage, the 24V segment held the dominant
share in the market in 2018 and is likely to continue to account for a
significant share over the forecast period as well. However, the demand
for segment of greater than 48V is anticipated to substantially rise in
the near future
- Asia Pacific is expected to be the largest
regional E-mobility market over the forecast period owing to massive
investments in vehicle charging infrastructure for electro mobility
services and is expected to reach USD 274,200.2 million by 2025
- Zero Motorcycles, Inc., Kinetic Green Energy
& Power Solutions Ltd., General Motors, Terra Motors, BYD Company
Ltd., Vmoto Limited ABN, Continental AG, Mahindra Electric Mobility
Limited, ALTA MOTORS, Tesla, Accell Group, and Nissan Motor Corporation
are some of the leading vendors in the market.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/electric-mobility-market/request/rs1
Grand
View Research has segmented the electric mobility market on the basis of
product, battery, voltage, and region.
Electric
Mobility Product Outlook (Revenue, USD Million, 2015 - 2025)
- Electric Scooter
- Electric Bicycle
- Electric Skateboard
- Electric Motorcycle
- Electric Car
- Electric Wheelchair
Electric
Mobility Electric Scooter by Product Outlook (Revenue, USD Million, 2015 -
2025)
- Retro
- Standing/Self-Balancing
- Folding
Electric
Mobility Battery Outlook (Revenue, USD Million, 2015 - 2025)
- Sealed Lead Acid
- NiMH
- Li-ion
Electric
Mobility Voltage Outlook (Revenue, USD Million, 2015 - 2025)
- Less than 24V
- 24V
- 36V
- 48V
- Greater than 48V
Electric
Mobility Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Mexico
- Middle East &
Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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