Around ******* electric vehicles were sold throughout Europe in the first quarter of 2025. This sales volume includes sales of battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV). Europe is one of the leading markets for plug-in vehicle sales worldwide. EV popularity and regional mandates keep the market growing The European plug-in electric vehicle (PEV) market had declined by ***** percent year-over-year between 2023 and 2024 and subsidy rollbacks could impact sales even further. Road transport, including passenger cars, made up most of the European Union’s transport sector carbon dioxide emissions in 2022, amounting to around **** percent of the emissions. That same year, the use of electric vehicles in Europe displaced the equivalent of *** billion liters of gasoline, making a dent in the region’s motor fuel consumption. The benefits of electric cars still depend on consumers’ perception of EVs. Charging infrastructure access impacts consumers’ perception Over half of the consumers in the European Union reported intending to purchase a hybrid or electric vehicle in a survey from the third quarter of 2022, a share which dipped to ** percent in rural areas, where charging infrastructure is less accessible. Various factors can still make PEVs an inaccessible option for potential buyers. German consumers’ leading concerns regarding BEVs were their driving range, their cost, and the lack of charger at home. The rise in electric vehicle usage requires changes to the transport infrastructure, including a sufficient number of publicly available electric vehicle charging stations. Around ******* such charging stations were spread across Europe as of 2023. However, while the number of charging stations has increased, European countries still struggle to expand their network. There were under ***** charging locations per *** kilometers of roadway in Germany, France, Spain, and Italy as of July 2021.

Plug-in light vehicle (PEV) sales reached nearly *** million units in the United States in 2024. U.S. sales of all-electric and plug-in hybrid electric vehicles peaked that year, after a first increase in 2018 as deliveries of Tesla's Model 3 picked up steam. In 2024, Tesla sales declined, but other manufacturers picked up sales. Still, compared to 2021 and 2022, not many new models were introduced, and most were priced highly. The road to consumer adoption While the sale of electric vehicles has picked up steam in the United States, consumer purchase intentions are still below those for traditional internal combustion engine vehicles. Some ** percent of U.S. consumers considered purchasing a fully electric vehicle when buying a car, according to the Statista Consumer Insights survey, compared to ** percent of consumers considering purchasing a regular gasoline vehicle when buying a car. The time required to charge a battery-electric vehicle (BEV) was U.S. consumers' main concern as of October 2023, followed by BEVs' driving range and their cost or price premium. In an attempt to boost electric vehicle adoption, the U.S. government has allocated financial incentives for the purchase of such vehicles.
New players and market leaders Tesla dominated the U.S. electric vehicle market in 2024, selling over half a million BEVs in the country that year. Ford and Chevrolet completed the top three, making the three best-selling BEV brands in the United States all domestic manufacturers. This success has attracted electric vehicle startups such as Lucid Motors, which produced the battery-electric vehicle with the longest driving range as of Model Year 2022, and Rivian. However, these companies are yet to be profitable, reporting net losses during the 2020, 2021, and 2022 fiscal years.

Electric Vehicle Sales: ytd: Fisker data was reported at 1,660.000 Unit in Mar 2024. This records a decrease from the previous number of 2,669.000 Unit for Dec 2023. Electric Vehicle Sales: ytd: Fisker data is updated quarterly, averaging 1,660.000 Unit from Sep 2023 (Median) to Mar 2024, with 3 observations. The data reached an all-time high of 2,669.000 Unit in Dec 2023 and a record low of 997.000 Unit in Sep 2023. Electric Vehicle Sales: ytd: Fisker data remains active status in CEIC and is reported by Cox Automotive. The data is categorized under Global Database’s United States – Table US.RA008: Electric Vehicle Sales: by Brand and Model: ytd.

The Global EV Outlook is an annual publication that identifies and discusses recent developments in electric mobility across the globe. It is developed with the support of the members of the Electric Vehicles Initiative (EVI).

Combining historical analysis with projections to 2030, the report examines key areas of interest such as electric vehicle and charging infrastructure deployment, energy use, CO2 emissions, battery demand, and related policy developments. The report includes policy recommendations that incorporate lessons learned from leading markets to inform policymakers and stakeholders concerning policy frameworks and market systems for electric vehicle adoption

Electric Vehicle Sales: ytd: Lucid data was reported at 5,766.000 Unit in Sep 2024. This records an increase from the previous number of 3,822.000 Unit for Jun 2024. Electric Vehicle Sales: ytd: Lucid data is updated quarterly, averaging 2,318.000 Unit from Dec 2021 (Median) to Sep 2024, with 12 observations. The data reached an all-time high of 5,940.000 Unit in Dec 2023 and a record low of 460.000 Unit in Mar 2022. Electric Vehicle Sales: ytd: Lucid data remains active status in CEIC and is reported by Cox Automotive. The data is categorized under Global Database’s United States – Table US.RA008: Electric Vehicle Sales: by Brand and Model: ytd.

Battery-electric vehicles broke records in the United States in 2024, when they surpassed the *********** sales threshold for the second consecutive year. This was an increase of some ****percent compared to 2023. Compared to the previous year, the growth rate slowed down. From 2022 to 2023, the BEV sales grew by over ** percent compared to 2022.

Electric Vehicle Sales: Volvo: Volvo XC40 data was reported at 218.000 Unit in Mar 2025. This records a decrease from the previous number of 564.000 Unit for Dec 2024. Electric Vehicle Sales: Volvo: Volvo XC40 data is updated quarterly, averaging 1,172.500 Unit from Mar 2021 (Median) to Mar 2025, with 16 observations. The data reached an all-time high of 2,292.000 Unit in Dec 2023 and a record low of 216.000 Unit in Sep 2022. Electric Vehicle Sales: Volvo: Volvo XC40 data remains active status in CEIC and is reported by Cox Automotive. The data is categorized under Global Database’s United States – Table US.RA007: Electric Vehicle Sales: by Brand and Model.

Electric Vehicle Sales: BMW: BMW i7 data was reported at 888.000 Unit in Mar 2025. This records a decrease from the previous number of 938.000 Unit for Dec 2024. Electric Vehicle Sales: BMW: BMW i7 data is updated quarterly, averaging 908.500 Unit from Dec 2022 (Median) to Mar 2025, with 10 observations. The data reached an all-time high of 1,565.000 Unit in Dec 2023 and a record low of 284.000 Unit in Dec 2022. Electric Vehicle Sales: BMW: BMW i7 data remains active status in CEIC and is reported by Cox Automotive. The data is categorized under Global Database’s United States – Table US.RA007: Electric Vehicle Sales: by Brand and Model.

China was the largest market for plug-in electric vehicle sale worldwide in 2024, with around 11.3 million sales recorded that year. Europe was second in the ranking, with around 3.2 million electric vehicles sold that same year.

Battery-electric vehicle sales reached an estimated 10.8 million in 2024, up from around 10 million in 2023. BEV sales have soared due a number of factors, including an increased consumer interest in more sustainable transport and governmental regulations to curb direct transport emissions. In 2021, these sales more than doubled compared to 2020, and 2024 marks a new record in all-electric sales volume.

Electric Vehicle Sales: Tesla: Tesla Model Y data was reported at 64,051.000 Unit in Mar 2025. This records a decrease from the previous number of 85,506.000 Unit for Dec 2024. Electric Vehicle Sales: Tesla: Tesla Model Y data is updated quarterly, averaging 71,358.000 Unit from Mar 2021 (Median) to Mar 2025, with 17 observations. The data reached an all-time high of 105,158.000 Unit in Jun 2023 and a record low of 37,700.000 Unit in Mar 2021. Electric Vehicle Sales: Tesla: Tesla Model Y data remains active status in CEIC and is reported by Cox Automotive. The data is categorized under Global Database’s United States – Table US.RA007: Electric Vehicle Sales: by Brand and Model.

China Automobile: Sales: New Energy Vehicle: Passenger Car: Pure Electric data was reported at 559,000.000 Unit in Aug 2023. This records an increase from the previous number of 508,000.000 Unit for Jul 2023. China Automobile: Sales: New Energy Vehicle: Passenger Car: Pure Electric data is updated monthly, averaging 72,000.000 Unit from Dec 2015 (Median) to Aug 2023, with 93 observations. The data reached an all-time high of 572,000.000 Unit in Nov 2022 and a record low of 3,908.000 Unit in Jan 2017. China Automobile: Sales: New Energy Vehicle: Passenger Car: Pure Electric data remains active status in CEIC and is reported by China Association of Automobile Manufacturers. The data is categorized under China Premium Database’s Automobile Sector – Table CN.RAB: Automobile Sales: New Energy Vehicle.

United States Electric Vehicle Sales: Year to Date: Vinfast data was reported at 927.000 Unit in Mar 2024. This records a decrease from the previous number of 3,129.000 Unit for Dec 2023. United States Electric Vehicle Sales: Year to Date: Vinfast data is updated quarterly, averaging 927.000 Unit from Mar 2023 (Median) to Mar 2024, with 5 observations. The data reached an all-time high of 3,129.000 Unit in Dec 2023 and a record low of 110.000 Unit in Mar 2023. United States Electric Vehicle Sales: Year to Date: Vinfast data remains active status in CEIC and is reported by Cox Automotive. The data is categorized under Global Database’s United States – Table US.RA008: Electric Vehicle Sales: by Brand and Model: ytd.

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).

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India Electric Vehicle Market Size 2025-2029

The India electric vehicle market size is forecast to increase by USD 200.03 billion at a CAGR of 93.9% between 2024 and 2029.

The market is experiencing significant growth, driven by increased adoption of enhanced logistics and transportation solutions. Technological advancements in EVs, such as longer battery life, faster-charging capabilities, improved automotive vents, and more precise automotive sensors, continue to attract consumers. However, the availability of alternatives, including hybrid vehicles and fuel-efficient internal combustion engine vehicles, challenges market growth. The market trends and analysis report delves into these factors, providing insights into the current and future landscape of the EV market. The report comprehensively assesses the market's growth prospects, helping stakeholders make informed business decisions.

What will be the Size of the Market During the Forecast Period?

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Electric Vehicles (EVs) have emerged as a significant transportation option in response to growing environmental consciousness and the pressing issue of climate change. As concerns over air pollution and carbon footprint continue to mount, EVs have gained global momentum as an attractive alternative to traditional internal combustion engine (ICE) vehicles. The market represents a dynamic and evolving landscape, with new models and improved performance continually being introduced. The car model availability on various websites is often updated by car dealers and monitored by environment agencies to ensure compliance with sustainability standards. Range, once a major concern for consumers, has significantly improved, making EVs a viable option for long-distance travel. Technological advancements, such as the integration of Electric Vehicle (EV) batteries, EV charging stations, the Internet of Things (IoT), and the shift from Diesel engines to electric powertrains, are driving the market. Environmental agencies and governments worldwide have also taken notice, implementing regulations and incentives to encourage the adoption of EVs.



Furthermore, company reports and data from vehicle registries indicate a steady increase in EV sales, with new passenger cars, including base models, becoming increasingly accessible to consumers. Despite the progress, challenges remain. The purchase costs of EVs, while decreasing, still represent a barrier for some consumers. Performance, while improving, may not yet meet the expectations of those accustomed to ICE vehicles. However, as the market continues to evolve, it is expected that these challenges will be addressed, further solidifying the position of EVs as a key player in the transportation sector. In the broader context, the shift towards EVs represents a significant step towards reducing global emissions from road transport, a major contributor to overall greenhouse gas emissions.

How is this market segmented and which is the largest segment?

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.

Charging

  Normal charging
  Super charging


Vehicle Type

  Passenger cars
  Commercial vehicles


Type

  BEV
  PHEV


Geography

  India

By Charging Insights

The normal charging segment is estimated to witness significant growth during the forecast period.

The market is anticipated to be dominated by the normal charging segment during the forecast period. When charging an EV using an alternating current, the onboard charger plays a crucial role. This built-in system converts the received alternating current (AC) into direct current (DC) for battery usage. The onboard charger's capacity significantly influences an EV's charging speed. It determines how fast the onboard system can receive AC from the source and the number of phases it can utilize. Small hatchbacks and crossovers are popular choices in the Indian EV market. Major automakers are investing in expanding their electric vehicle fleets to meet the growing demand for lower emissions alternatives.

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Market Dynamics

Our market researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of India Electric Vehicle Market?

Increasing adoption of EVs for improved logistics and transportation is the key driver of the market.

Electric Vehicles (EVs) are gaining significant momentum in the market as consumers increasingly prioritize environmental consciousness and seek to reduce

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Electric Vehicle (EV) Market Size 2025-2029

The electric vehicle (ev) market size is valued to increase by USD 446.4 billion, at a CAGR of 16.4% from 2024 to 2029. Growing demand for low-emission vehicles will drive the electric vehicle (ev) market.

Market Insights

APAC dominated the market and accounted for a 59% growth during the 2025-2029.
By Type - BEV segment was valued at USD 173.00 billion in 2023
By Charging - Normal charging segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 202.70 billion 
Market Future Opportunities 2024: USD 446.40 billion
CAGR from 2024 to 2029 : 16.4%

Market Summary

The market is experiencing significant growth driven by increasing global concerns over climate change and the need for sustainable transportation solutions. Governments worldwide are implementing policies to reduce carbon emissions, leading to a surge in demand for EVs. Furthermore, advancements in battery technology have improved EV range and reduced charging times, making them a more viable alternative to traditional Internal Combustion Engine (ICE) vehicles. However, the EV market faces challenges, primarily the insufficient charging infrastructure. As the number of EVs on the road increases, the demand for charging stations grows, and current infrastructure struggles to keep pace. This issue is particularly acute in rural areas and developing countries, where charging stations are scarce. A real-world business scenario illustrates the importance of addressing this challenge. A logistics company, aiming for operational efficiency and compliance with emissions regulations, invests in a fleet of EVs. However, the lack of charging infrastructure forces the company to frequently divert trucks to cities to recharge, increasing operational costs and delivery times. To mitigate this issue, the company collaborates with local governments and utilities to expand charging infrastructure, ensuring efficient and sustainable operations. In conclusion, the EV market is poised for growth, driven by environmental concerns and technological advancements. However, the insufficient charging infrastructure poses a significant challenge that must be addressed to fully realize the potential of this market.

What will be the size of the Electric Vehicle (EV) Market during the forecast period?

Get Key Insights on Market Forecast (PDF) Request Free SampleThe market continues to evolve, with automotive battery technology at its core. Companies are investing heavily in battery cell manufacturing to improve energy density and reduce charging time. Charging time optimization is a significant concern for consumers, and advancements in high-power battery chargers and smart charging algorithms are addressing this issue. Furthermore, vehicle-to-grid integration and powertrain electrification components are transforming the EV landscape, enabling energy efficiency and grid stability. Electric vehicle infrastructure development is accelerating, with an increasing focus on vehicle electrification technology, electric motor controllers, and power semiconductor devices. Range-extending generators and battery recycling processes are also gaining traction, ensuring the sustainability of the EV market. As businesses navigate this dynamic industry, they must consider electric vehicle regulations and battery management algorithms to ensure compliance and optimize their product strategy. Lithium-ion battery packs remain the dominant technology, but research and development in alternative battery types, such as solid-state batteries, are ongoing. The EV market's growth is driven by the need for cleaner transportation and the increasing availability of charging infrastructure. With continuous advancements in battery technology and charging infrastructure, the future of the EV market looks promising.

Unpacking the Electric Vehicle (EV) Market Landscape

Electric Vehicles (EVs) represent a significant shift in the global automotive landscape, with battery electric vehicles (BEVs) leading the charge. According to industry data, BEVs accounted for 3.1% of global new passenger car sales in 2020, marking a 40% increase from the previous year. This trend is driven by several business-critical factors.

Range anxiety mitigation through advanced energy storage systems and fast charging infrastructure has improved electric vehicle architecture, enabling longer ranges and shorter refueling times. Lightweight materials and powertrain efficiency enhancements have led to a 10% reduction in energy consumption per mile compared to conventional internal combustion engine vehicles. Furthermore, the integration of onboard charger design, solid-state batteries, and motor drive inverters has resulted in electric motor efficiency improvements of up to 95%.

Battery life cycle management and power

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Micro Electric Vehicle Market Size 2023-2027

The micro electric vehicle market size is forecast to increase by USD1.54 th units at a CAGR of 8.02% between 2022 and 2027.

The market is experiencing significant growth, driven by several key trends. One major factor fueling market expansion is the establishment of dedicated consortiums for the development of micro electric vehicles, leading to innovative designs and vehicle platforms that cater to the unique needs of consumers. Additionally, advancements in Li-ion batteries, lighter construction materials, and increasing automation are enhancing the drivability and maneuverability of these vehicles. However, it is essential to note that the power grids serving as a source for charging these electric vehicles can indirectly contribute to environmental pollution. Despite this challenge, the market is poised for continued growth, with consumers increasingly seeking sustainable and eco-friendly transportation solutions.

What will be the Size of the Micro Electric Vehicle Market During the Forecast Period?

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The market is experiencing significant growth in the United States, driven by the demand for green transportation solutions in the context of smart cities. With increasing focus on emission reduction and the adoption of renewable energy, alternative fuels such as electric vehicles (EVs) are gaining popularity. Micro electric vehicles, including one-seater EVs and compact cars, offer sustainable transportation alternatives for urban mobility and last-mile delivery. Battery technology advancements and charging solutions have made EVs more accessible and convenient for consumers. Electric vehicle infrastructure, including charging stations, is being integrated into transportation infrastructure to support the growing demand for emission-free driving.Regulations and incentives are also playing a crucial role in the adoption of micro electric vehicles, with many cities and states implementing policies to promote the use of eco-friendly vehicles. Moreover, the integration of autonomous vehicles and mobility data analytics into the mobility ecosystem is expected to further drive the growth of the market. Urban planning initiatives are also focusing on traffic congestion solutions and emission reduction strategies, making micro electric vehicles an attractive alternative to traditional transportation methods. Overall, the market is poised for continued growth as a key component of the sustainable transportation landscape.

How is this Micro Electric Vehicle Industry segmented and which is the largest segment?

The micro electric vehicle industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD th units' for the period 2023-2027, as well as historical data from 2017-2021 for the following segments.TypeGolf and micro carsQuadricycleApplicationCommercialPersonalPublic utilitiesGeographyNorth AmericaCanadaUSAPACJapanEuropeGermanyUKSouth AmericaMiddle East and Africa

By Type Insights

The Golf and micro cars segment is estimated to witness significant growth during the forecast period.

The market is primarily driven by the golf carts and micro cars segments, accounting for approximately 80% of the market share. This dominance is attributed to the rising sales of electric golf carts and personal utility vehicles in regions like North America and Europe. Additionally, micro cars with a maximum power rating of up to 15 kW are gaining popularity due to their low carbon footprint and cost-effectiveness for personal use. In commercial applications, such vehicles are increasingly utilized for cargo transportation, particularly in industries with large campuses or distribution centers. The electrification trend in the transportation sector is further propelling the market growth.Intelligent charging programs and electrification technologies are being integrated into these vehicles to enhance their functionality and efficiency. The market is expected to continue expanding as more businesses and consumers adopt sustainable and cost-effective transportation solutions.

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The Golf and micro cars segment accounted for USD 2127.62 th units in 2017 and showed a gradual increase during the forecast period.

Regional Insights

North America is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in North America is experiencing significant growth due to increasing demand for personal, affordable, and environmentally responsible transportation options. This trend is particularly noticeabl

Battery electric car sales in Indonesia fluctuated over the period observed, with a significant increase in December 2023. Over this month, the number of BEVs sold in Indonesia reached *****.

United States Electric Vehicle Sales: Tesla: Tesla Model X data was reported at 3,843.000 Unit in Mar 2025. This records a decrease from the previous number of 4,340.000 Unit for Dec 2024. United States Electric Vehicle Sales: Tesla: Tesla Model X data is updated quarterly, averaging 6,098.000 Unit from Mar 2021 (Median) to Mar 2025, with 17 observations. The data reached an all-time high of 7,010.000 Unit in Jun 2023 and a record low of 3,338.000 Unit in Sep 2024. United States Electric Vehicle Sales: Tesla: Tesla Model X data remains active status in CEIC and is reported by Cox Automotive. The data is categorized under Global Database’s United States – Table US.RA007: Electric Vehicle Sales: by Brand and Model.

Quarterly data on vehicle registration by fuel type, vehicle type and number of vehicles, Canada, the provinces, census metropolitan areas and census sub-divisions.