Electric Vehicle Market Set to Grow at 21.1% CAGR Driven by Electric Buses and Commercial Vehicles to 2030

PUNE, India, Sept. 13, 2019 /PRNewswire/ -- According to Electric Vehicle Market Study, the analysis made by electric buses and commercial vehicles and highlighted by increasing adoption of fossil fuel-based and public transport fleet. It contributes to the growth of electric commercial vehicle segment in China and India. Global electric vehicle market growing at 21.1% CAGR and estimated to grow from 3,269,671 units in 2019 to reach 26,951,318 units by 2030 research study added to ReportsnReports.

Browse Complete Study Spread across 154 Pages and 26 Company Profiles with 46 Tables and 50 Figures on "Electric Vehicle Market by Vehicle (Passenger Cars & Commercial Vehicles), Vehicle Class (Mid-priced & Luxury), Propulsion (BEV, PHEV & FCEV), EV Sales (OEMs/Models) Charging Station (Normal & Super) & Region - Global Forecast to 2030" at https://www.reportsnreports.com/reports/1551861-electric-vehicle-market-by-propulsion-bev-phev-fcev-vehicle-pc-cv-charging-station-normal-super-inductive-charging-infrastructure-normal-type-2-ac-chademo-ccs-tesla-sc-power-output-installation-st-to-2025.html .

European Electric Vehicle Market is projected to experience steady growth, owing to a well-developed infrastructure for electric vehicles, while Asia Pacific market is the fastest due to strong presence of major electric vehicle manufacturing OEMs. Increased emphasis on reduction in carbon emissions is expected to boost the market. However, lack of availability of charging stations and initial high costs can create a hurdle for its growth.

"Heavy investments from automakers in EVs and encouraging government policies and subsidies are significant factors for growth of electric vehicle market globally"

Encouraging investments made by governments for electric vehicle across the globe to increase the adoption of electric vehicles, creating opportunities for OEMs to expand their revenue stream and geographical presence. Additionally, the growth of ecommerce, logistics, and shared mobility will drive the growth of electric commercial vehicles during the forecast period.

Download PDF Brochure of Electric Vehicle Market - Global Forecast to 2030 Research Study Now at https://www.reportsnreports.com/contacts/requestsample.aspx?name=1551861 .

Mid-priced segment is expected to be the fastest growing electric vehicle market. In the Asia Pacific region, China is one of the leading countries for mid-priced vehicles. The commercial vehicle segment is expected to be the fastest growing market. Increasing adoption of electric buses, particularly in China and India, has contributed to the growth of the electric commercial vehicle segment.