Electric Car Market

Electric Car Market Size, Share & Trends Analysis Report

Electric Car Market Size, Share & Trends Analysis Report By Car Type (Compact Passenger Car, SUV Car, Luxury & Premiums Car), By Power Source (Hybrid Electric Vehicles, Plug-In Hybrid Electric Vehicles, Battery Electric Vehicles, Fuel Cell Electric Vehicle), By Motor Type (DC Charging Motor, AC Charging Motor), By Technology (Stored Electricity, On Board Electric Generator), By Vehicle Drive (Front-Wheel Drive, All Wheel Drive, Others) Based On Region, And Segment Forecasts, 2022- 2029

Report ID : BMRC 141
Number of pages : 300
Published Date : Apr 2023
Category : Automotive And Transport
Delivery Timeline : 48 hrs

Electric Car Market is valued at 259.72 USD Billion in 2021 and expected to reach USD 1138.1 Billion by 2028 with a CAGR of 23.50% over the forecast period.

Scope of the Electric car Market

Electric car is motorized by an electric motor as an alternative to a fuel engine. The electric motor gets power from a regulator, which regulates the amount of power based on the driver’s use of an accelerator switch. The electric car is also known as an electric vehicle or EV and it uses electric power from rechargeable batteries, which are recharged by common domestic electricity. Due to technological advancement, rising energy storage and reducing cost, most of the important automakers introduced a new invention of electric cars to the market.

Initiatives to build up low-cost and fast charging battery technology are key factors responsible for the growth of electric car market. In 2017, all car manufacturers are under attack to develop higher capacities battery of over 60 kWh and improved the sort of an electric car up to 200 miles on a on its own charge. Particularly low running cost of an electric car is a key factor that influences car buyers to buy electric car. Electric are low maintenance and can charge any time, in relieve of your home or office are factors make end user contented. Electric cars are more expensive than gasoline motorized cars in the same variety and had less power, speed then gasoline car are restraining factors of electric car market. Low number of service station is also one of the key restraining factors for electric car market. Increasing awareness about global warming may generate new opportunities during forecast period.

Electric car Market report published by the Brandessence Market Research and Consulting Pvt. Ltd. provides the detail information about Electric car market from various aspects. This repost consist of drivers, restrains, Opportunities which help the market to grow over the analysis period and recent trends which supports the growth of market. This repost consist of regional segmentation with type, technology, material and application.

Electric Car Manufacturers

Global Electric car market report covers prominent players like

  • Nissan motors
  • Tesla Corporation
  • General motors
  • Mitsubishi Motors
  • Volkswagen
  • Daimler AG
  • Smith electric Vehicle
  • Bosch GmbH
  • Delphi Automotive plc.
  • Hyundai
  • Kia
  • BYD
  • BMW
  • Lucid Motors
  • Chevrolet
  • Ford
  • Stellantis
  • Others

Market Segmentation

By Car Type

  • Compact Passenger Car
  • SUV Car
  • Luxury & Premiums Car

By Power Source

  • Hybrid Electric Vehicles
  • Plug-In Hybrid Electric Vehicles
  • Battery Electric Vehicles
  • Fuel Cell Electric Vehicle

By Motor Type

  • DC Charging Motor
  • AC Charging Motor

By Technology

  • Stored Electricity
  • On Board Electric Generator

By Vehicle Drive

  • Front-Wheel Drive
  • All Wheel Drive
  • Others

Regional & Country Analysis

North America

  • U.S.
  • Canada


  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Sweden
  • Netherland
  • Turkey
  • Switzerland
  • Belgium
  • Rest of Europe


  • South Korea
  • Japan
  • China
  • India
  • Australia
  • Philippines
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Rest Of APAC

Latin America

  • Mexico
  • Colombia
  • Brazil
  • Argentina
  • Peru
  • Rest of South America

Middle East and Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest Of MEA
Report Analysis Details
Historical data 2018 - 2021
Forecast Period 2022 - 2028
Market Size in 2021: USD 259.72 Billion
Base year considered 2021
Forecast Period CAGR %: 23.50%
Market Size Expected in 2028: USD 1138.1 Billion
Tables, Charts & Figures: 175
Pages 300
Key Players/Companies Nissan motors, Tesla Corporation, General motors, Mitsubishi Motors, Volkswagen, Daimler AG, Smith electric Vehicle, Bosch GmbH,  Delphi Automotive plc., Hyundai, Kia, BYD, BMW, Lucid Motors, Chevrolet, Ford, Stellantis, and others. 
Segments Covered By Car Type, By Power Source, By Motor Type, By Technology, By Vehicle Drive
Regional Analysis North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa