Top Electric Vehicle (EV) Manufacturing Companies 2022
An electric vehicle is an automobile that operates on electricity, unlike its counterparts, which run on fuel. These vehicles require a constant battery energy supply to fuel the electric motor. As compared to conventional vehicles, electric cars provide higher fuel economy, low carbon emission and maintenance, enhanced convenience of charging at home, and reduced sound from the engine. Electric vehicles are gaining widespread popularity lately in an attempt to curb environmental pollution across the globe.
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According to IMARC Group, the global electric vehicles market reached a volume of 12.7 Million Units in 2021. Looking forward, IMARC Group expects the market to reach 106.6 Million Units by 2027, exhibiting at a CAGR of 41.8% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Some of the top Electric Vehicle Manufacturing Companies in the World in 2022 being:
- Bayerische Motoren Werke AG
- BYD Auto
- Daimler AG
- Ford Motor Company
- General Motors
- Honda Motor Company
- Hyundai Motor Company
- SAIC Motor
- Tesla Inc. Toyota Motor Corporation
The top players in the electric vehicle market are increasingly focusing on developing fuel-efficient, high-performance, and low-emission vehicles. With rapid advancements in technologies, some players are developing self-driving electric vehicle technology, thus creating a positive outlook for the market. Furthermore, proactive government initiatives to promote the uptake of electric vehicles are offering lucrative growth opportunities for key players operating in the electric vehicles market. In addition, several market players are heavily investing in research and development activities to launch new product variants and for developing charging infrastructure to promote the sales of electric vehicles worldwide, which is contributing to the market.
Electric vehicles (EV) Market Overview:
Electric vehicles (EVs) represent the self-propelling, electrically-charged automobiles that are used for transporting goods and passengers. They are charged by self-charging devices, including regenerative braking systems and turbochargers, that can convert kinetic energy into electrical energy. EVs are powered by large traction battery packs present at charging stations. Plug-in hybrid electric vehicles (PHEVs), hybrid electric vehicles (HEVs), battery-electric vehicles (BEVs), etc., are the most common types of EVs available in the market. Compared with the traditionally utilized automobiles, electric vehicles reduce the dependency on oil and are more economical to operate.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global electric vehicles market, along with forecasts at the global, regional, and country levels from 2022-2027. Our report has categorized the market based on component, charging type, propulsion type, and vehicle type.
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
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