The United States Electric Car Market is segmented by Vehicle Configuration (Passenger Cars) and by Fuel Category (BEV, FCEV, HEV, PHEV). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

The India Electric Vehicle Market is segmented by Vehicle Type (Commercial Vehicles, Passenger Vehicles, Two-Wheelers) and by Fuel Category (FCEV, HEV). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

The electric vehicle market size was valued at USD 243.9 billion in 2024 and is anticipated to cross USD 2.72 trillion by the end of 2037, expanding at more than 20.4% CAGR during the forecast period i.e., between 2025-2037. Asia Pacific is anticipated to lead the global market during the projected timeframe, owing to the sustainability efforts aimed at reducing carbon emissions.

This dataset provides a detailed overview of the electric vehicle (EV) market in India from 2001 to 2024. It includes monthly sales data, sales data categorized by manufacturer, and vehicle class-wise sales data for different manufacturers. This rich dataset is ideal for market analysis, trend forecasting, and research on the adoption and growth of electric vehicles in India.

Updated Files Included

EV Maker by Place

List of popular EV Makers and their location of Manufacturing Plant

Operational PC

Total Operational Public Charging Station for EV available in each state

Vehicle Class

Total vehicles (includes electric and all other fuels) registered (manufactured) by category from 2001 - Aug 2024

ev_cat_01-24

Total electric vehicles manufactured from 2001 - Aug 2024 and vehicle category

ev_sales_by_makers_and_cat_15-24

Total electric vehicles manufactured by makers from 2015 - Aug 2024 with the vehicle class

Potential Uses

• Market Analysis: Understand the growth trends and market share of different manufacturers in the Indian EV market.
• Forecasting: Predict future sales trends based on historical data.
• Research: Study the adoption patterns and the impact of various factors on the EV market in India.

Acknowledgments

This dataset was compiled and web-scrapped from Vahaan4 Dashboard

Note - The data for name of Manufacturers is only available from 2015

Latin America's Electric Car market will be USD 20771.13 million in 2024 and is estimated to grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2031. The market is foreseen to reach USD 37734.0 million by 2031 due to the increasing availability and accessibility of electric vehicles as more are added to fleets for car sharing and rentals.

According to Cognitive Market Research, the global Electric Car market size will be USD 415422.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 8.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 166169.04 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 124626.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 95547.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 20771.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 8308.45 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031.
The 100 to 125 MPH category is the fastest growing segment of the Electric Car industry

Market Dynamics of Electric Car Market

Key Drivers for Electric Car Market

Improvements in Battery Technology to Boost Market Growth

The electric car market is changing due to advancements in battery technology, which are affecting factors including cost, efficiency, and range. Nowadays, the most popular batteries are lithium-ion ones battery type for electric vehicles, and they have advanced significantly in recent years. Lithium-ion battery energy density is being improved through continual research and development in order to store more power without needlessly increasing the size or weight of the batteries. Rather, this has prompted the creation of electric vehicles with a greater range, allaying a significant apprehension that the majority of people had about purchasing an electric vehicle. In addition to lithium-ion batteries, other technologies are being developed with the goal of revolutionizing the electric car market. For instance, the latest study has presented solid-state batteries: instead of using liquid electrolytes, they employ solid ones. This leads to significantly better energy densities and safety standards. Since these batteries are less likely than other traditional varieties to overheat, their lifespan is guaranteed, and faster charge times are made possible. The development of solid-state batteries is anticipated to see considerable adoption in a few years due to the efforts of firms like QuantumScape or Toyota. With a solid-state battery that can drive 1,000 km and a projected 20-minute charging time or less, Toyota is dedicated to having this technology ready for commercial usage by 2027–2028. Car business is also growing.

Government Regulations and Support to Drive Market Growth

The market for electric cars is expanding mostly due to government initiatives and incentives. To lower the initial cost and increase the affordability of electric vehicles (EVs), several nations are implementing tax breaks, refunds, and subsidies for EV purchasers. Governments are also mandating automakers to produce more environmentally friendly automobiles by imposing tighter emissions regulations. By lowering range anxiety, investments in charging infrastructure, such as grants for the construction of fast-charging stations, encourage the wider use of EVs. Furthermore, manufacturers are incentivized to emphasize the development of electric cars (EVs) by plans to phase out internal combustion engine (ICE) vehicles and zero-emission laws. The industry is expanding as a result of public awareness efforts and incentives for companies to electrify their fleets.

Restraint Factor for the Electric Car Market

The Development of Battery Longevity and Replacement Costs is Ongoing Will Limit Market Growth

Significant barriers to the market for electric cars include battery longevity and replacement costs. Concerns concerning the long-term performance of electric vehicle (EV) batteries persist despite improvements in efficiency and durability. Resale value and long-term ownership costs are impacted when a vehicle's operating range is reduced due to battery...

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Electric Car Market Size 2025-2029

The electric car market size is forecast to increase by USD 2898.1 billion, at a CAGR of 38.5% between 2024 and 2029.

The market witnesses a surging demand and sales of Battery Electric Vehicles (BEVs) globally, driven by increasing environmental concerns and government initiatives to reduce carbon emissions. This trend is further fueled by the continuous launch of new electric car models across various sectors, including luxury (Tesla Model S) and mass-market (Nissan Leaf) segments. However, the high cost of ownership of BEVs, primarily due to the expensive batteries, poses a significant challenge for market growth. Additionally, the infrastructure development for charging stations and the limited driving range of these vehicles are other obstacles that need to be addressed to accelerate market penetration. Companies seeking to capitalize on this market's potential must focus on reducing battery costs and expanding charging infrastructure while offering competitive pricing and improved driving range to attract more consumers.

What will be the Size of the Electric Car Market during the forecast period?

Request Free SampleThe electric vehicle market continues to evolve, driven by advancements in technology and shifting consumer preferences. Electric buses are increasingly adopted in public transportation systems, while electric vehicle policy encourages their use in various sectors. Fire safety and regenerative braking are crucial considerations in the design of these vehicles. Smart cities are integrating electric vehicles into their urban mobility plans, with charging infrastructure becoming a key component. Fuel cell technology and battery technology, including solid-state batteries, are advancing, offering potential solutions to range anxiety and battery life concerns. Commercial electric vehicles, from delivery trucks to utility vehicles, are gaining traction, and the supply chain is adapting to meet the growing demand. Sustainable transportation and emissions reduction are primary objectives, with micro mobility options like electric scooters and bicycles also gaining popularity. The ongoing evolution of electric vehicle software, including over-the-air updates, and advancements in battery management systems are essential to optimizing performance and efficiency. The integration of electric vehicles into public transportation and workplace charging stations further expands their reach. Electric vehicle manufacturing is adapting to meet the demands of this dynamic market, with a focus on lightweight materials and efficient production processes. The market's continuous unfolding is shaped by government incentives, battery recycling, power electronics, and the development of electric vehicle maintenance and recycling programs. The electric vehicle landscape is constantly shifting, with new applications and innovations emerging in the realm of electric motorcycles, electric bicycles, and electric trucks.

How is this Electric Car Industry segmented?

The electric car industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. Vehicle TypeBEVPHEVTypeHatchbackSedanOthersDistribution ChannelOEMsDealershipsOnline RetailVehicle ClassPassenger CarsLight Commercial VehiclesHeavy Commercial VehiclesPrice SegmentEconomyMid-rangePremiumLuxuryBattery TechnologyLithium-ionSolid-stateLithium-iron-phosphateGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKAPACChinaIndiaJapanSouth KoreaRest of World (ROW)

By Vehicle Type Insights

The bev segment is estimated to witness significant growth during the forecast period.The Battery Electric Vehicle (BEV) segment is leading the market, fueled by growing environmental consciousness and stricter emission regulations. BEVs, which operate solely on electricity stored in batteries, present a cleaner alternative to conventional vehicles. This trend is reinforced by government incentives and advancements in battery technology, including solid-state and lithium-ion batteries, which enhance range, performance, and affordability. Additionally, the increasing investment in EV charging infrastructure globally supports the expansion of the BEV segment. Hybrid Electric Vehicles (HEVs) and other electric vehicles, such as electric scooters, motorcycles, utility vehicles, buses, trucks, and delivery vehicles, also contribute to the market's growth. Innovations in electric vehicle software, design, and maintenance, including over-the-air updates, battery management systems, and recycling, further boost market momentum. The integration of electric vehicles into public transportation systems, workplaces, and smart cities, as well as the adoption of fuel cell technology and regenerative braking, are shaping the future

The Japan electric car market size was valued at USD 43.22 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 179.35 Billion by 2033, exhibiting a CAGR of 17.2% from 2025-2033. Government incentives, environmental awareness, and urbanization drive the market. Supportive policies like subsidies and tax breaks encourage EV adoption. The growing demand for eco-friendly transportation, along with advancements in battery technology and expanding charging infrastructure, further enhances the Japan electric car market share.

IMARC Group provides an analysis of the key trends in each segment of the Japan electric car market, along with forecasts at the country and regional levels from 2025-2033. The market has been categorized based on type, vehicle class, and vehicle drive type.

Asia Pacific Electric Car market will be USD 95547.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031. The expansion of electric car usage in commercial sectors is facilitated by the development of fleet charging infrastructure, which is expected to aid the sales to USD 182262.1 million by 2031

This dataset shows the Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs) that are currently registered through Washington State Department of Licensing (DOL).

A Battery Electric Vehicle (BEV) is an all-electric vehicle using one or more batteries to store the electrical energy that powers the motor and is charged by plugging the vehicle in to an electric power source. A Plug-in Hybrid Electric Vehicle (PHEV) is a vehicle that uses one or more batteries to power an electric motor; uses another fuel, such as gasoline or diesel, to power an internal combustion engine or other propulsion source; and is charged by plugging the vehicle in to an electric power source.

Clean Alternative Fuel Vehicle (CAFV) Eligibility is based on the fuel requirement and electric-only range requirement as outlined in RCW 82.08.809 and RCW 82.12.809 to be eligible for Alternative Fuel Vehicles retail sales and Washington State use tax exemptions. Sales or leases of these vehicles must occur on or after 8/1/2019 and meet the purchase price requirements to be eligible for Alternative Fuel Vehicles retail sales and Washington State use tax exemptions.

Monthly count of vehicles for a county may change from this report and prior reports. Processes were implemented to more accurately assign county at the time of registration.

Updated: March 12, 2024

Global electric vehicle market is expected to reach a humungous revenue of $800 Bn by 2026 end, and grow at healthy CAGR of 23% during forecast period of 2021-26

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China Electric Vehicle Market Size 2025-2029

The china electric vehicle market size is forecast to increase by USD 419 billion billion at a CAGR of 18.3% between 2024 and 2029.

The Electric Vehicle (EV) market in China is experiencing significant growth driven by the increasing demand for fuel-efficient and low-emission transportation solutions. The Chinese government's commitment to reducing carbon emissions and promoting sustainable energy sources is a key factor fueling this trend. Another significant driver is the increasing integration of renewable energy for EV charging infrastructure, making EVs an attractive option for environmentally-conscious consumers. However, the high cost of ownership for EVs as compared to Internal Combustion Ignition (ICE) vehicles remains a challenge for market growth. Companies seeking to capitalize on the opportunities in this market should focus on reducing the cost of EVs through technological innovations and economies of scale. Additionally, strategic partnerships with renewable energy providers and the Chinese government can help companies navigate regulatory challenges and gain a competitive edge. Overall, the Chinese EV market presents significant growth potential for companies willing to invest in research and development and navigate the unique regulatory and cost challenges of the market.

What will be the size of the China Electric Vehicle Market during the forecast period?

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The electric vehicle (EV) market in China has experienced remarkable growth, becoming the world's largest EV market by volume. In 2020, over 1.3 million units were sold, accounting for approximately 40% of global EV sales. The Chinese government's supportive policies, including subsidies for EV purchases and the expansion of EV charging infrastructure, have significantly driven market growth. Both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) are popular in China, with passenger vehicles dominating the market. Commercial vehicles, including buses and trucks, are also transitioning to electric propulsion. The Chinese EV market encompasses various vehicle types, from compact city cars to luxury sedans, SUVs, and all-wheel drive models. EV manufacturing in China is a significant component of the global supply chain, with local OEMs and international players investing heavily in EV production. The market is characterized by continuous advancements in battery technology, with a focus on improving range and reducing costs. EV components, including battery packs, motors, brakes, and wheel & suspension systems, are being developed and manufactured domestically to support the growing industry. The Chinese EV market is expected to continue its upward trajectory, driven by government initiatives, increasing consumer acceptance, and advancements in technology. The market's expansion is also influencing the global EV landscape, with China setting trends in areas such as EV charging infrastructure and battery technology.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. TypePassenger vehiclesCommercial vehiclesTechnologyBEVPHEVVehicle TypeFront wheel driveRear wheel driveAll wheel driveGeographyChina

By Type Insights

The passenger vehicles segment is estimated to witness significant growth during the forecast period.

The Electric Vehicle (EV) market in China continues to grow significantly, with passenger vehicles leading the segment. In 2024, China accounted for approximately half of all new EV registrations worldwide. The Chinese government's commitment to electrification is evident, with a goal of having 45% of cars be electrified by 2027 and supporting the EV30@30 campaign, aiming for 30% of new EV sales by 2030. This government push, coupled with increasing production and sales of passenger EVs, drives demand for these vehicles. The market encompasses various components, including battery packs, motors, brakes, wheel and suspension systems, body and chassis, and low-voltage battery components. EV manufacturing and the EV supply chain require substantial capital expenditure. The market includes electric passenger vehicles, mid-priced and luxury vehicles, and commercial vehicles. EVs offer advantages such as zero-emission capabilities and improved energy efficiency, addressing concerns over vehicle emissions and sustainability. The market's growth is influenced by factors like battery technology advancements, affordability, and government subsidies and incentives. Key players in the market include automakers, utilities, and private companies.

Get a glance at the market share of various segments Request Free Sample

The Passenger vehicles segment was v

The Mexico Electric Car Market is segmented by Vehicle Configuration (Passenger Cars) and by Fuel Category (BEV, FCEV, HEV, PHEV). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

The size and share of this market is categorized based on Powertrain Type (Battery Electric Vehicles (BEV), Plug-in Hybrid Electric Vehicles (PHEV), Fuel Cell Electric Vehicles (FCEV)) and Vehicle Type (Luxury Electric Cars, Sports Electric Cars, SUV Electric Cars, Sedan Electric Cars, Crossover Electric Cars) and Battery Type (Lithium-Ion Battery, Solid-State Battery, Lead-Acid Battery, Nickel-Metal Hydride Battery, Ultracapacitor) and geographical regions (North America, Europe, Asia-Pacific, South America, Middle-East and Africa).

Electric Vehicle Market Size, Share, Forecast, & Trends Analysis by Vehicle Type (Passenger Vehicles, LCVs, HCVs, Two-wheelers, e-Scooters & Bikes), Propulsion Type (BEV, HEV), End Use (Private, Commercial, Industrial), Power Output, Charging Standard, and Geography - Global Forecast to 2031

Electric Vehicle (EV) Market size was valued at USD 603.45 Billion in 2022 poised to grow from USD 661.87 Billion in 2023 to USD 1386.08 Billion by 2031, growing at a CAGR of 9.68% in the forecast period (2024-2031).

North America Electric Car Market Size, Share, Forecast, & Trends Analysis by Propulsion Type (BEV, PHEV, HEV), Power Output (Less than 100kW, 100 kW to 250 kW, More than 250 kW), End Use (Private, Commercial) - Forecast to 2031

The Electric Vehicle Market estimated size and share is projected to exceed USD 1422.35 billion by 2034, with a forecasted CAGR of 12.5 during the period.

Global Electric Car Market size was worth around USD 387.41 billion in 2023 and is grow to around USD 1210.98 billion by 2032 with a CAGR of roughly 13.50%.

The global affordable electric car market is experiencing robust growth, driven by increasing environmental concerns, stringent emission regulations, and government incentives promoting electric vehicle adoption. The market, encompassing both Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs), is segmented by application (home and commercial use) and geographically spans North America, Europe, Asia-Pacific, and other regions. While precise figures for market size and CAGR aren't provided, a reasonable estimation, considering the current market dynamics and the rapid expansion of the EV sector, would place the 2025 market size at approximately $150 billion USD. Given the acceleration of technological advancements, falling battery costs, and expanding charging infrastructure, a conservative Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033 is projected. This translates to substantial market expansion over the forecast period, reaching an estimated value exceeding $600 billion USD by 2033. Key drivers include the increasing affordability of electric vehicles, coupled with enhanced battery technology leading to longer ranges and faster charging times. Government subsidies and tax incentives are playing a crucial role in making EVs more accessible to a wider consumer base. Emerging trends include the rise of shared mobility services integrating electric vehicles, the development of advanced battery chemistries, and the increasing integration of smart technologies within affordable electric cars. However, the market faces restraints such as the limited availability of charging infrastructure in certain regions, concerns regarding battery lifespan and disposal, and fluctuating raw material prices impacting vehicle manufacturing costs. The competitive landscape is dynamic, with established automakers like Chevrolet, Nissan, and Volkswagen competing with newer entrants like Fisker and BYD, along with the continued influence of market leaders like Tesla. Regional variations in market penetration will largely depend on the level of government support, consumer preferences, and the pace of infrastructure development.