According to the latest report by IMARC Group,the global electric vehicles market reached a volume of 12.7 Million Units in 2021.An electric vehicle (EV) is a self-propelling automobile that is partially or fully powered on electric traction motors instead of an internal combustion engine. It uses a large traction battery pack to power the electric motor, which requires a charging from electric vehicle supply equipment (EVSE). EVs can also be charged through turbochargers and regenerative braking systems that function by converting kinetic energy into electrical energy.

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Global Electric Vehicles
Market Research Report
and Forecast 2022-2027
Author: Elena Anderson,
Marketing Manager |
IMARC Group
© 2019 IMARC All Rights Reserved

2. Report Description
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3. Report Description
Report Description and Highlights
Global Electric Vehicles Market Outlook 2027:
According to the latest report by IMARC Group, titled "Electric Vehicles Market: Global Industry Trends,
Share, Size, Growth, Opportunity and Forecast 2022-2027," the global electric vehicles market reached
a volume of 12.7 Million Units in 2021.
An electric vehicle (EV) is a self-propelling automobile that is partially or fully powered on electric
traction motors instead of an internal combustion engine. It uses a large traction battery pack to power
the electric motor, which requires a charging from electric vehicle supply equipment (EVSE). EVs can
also be charged through turbochargers and regenerative braking systems that function by converting
kinetic energy into electrical energy. Some other key components of EVs include a charge port, DC/DC
converter, electric traction motor, onboard charger, power electronic controller, thermal system
(cooling), traction battery pack, and transmission.
As compared to conventional automobiles, EVs are more environment friendly and cost-effective as
they omit the use of fossil fuels, eliminate tailpipe emissions, reduce the dependency on liquid fuel
components, and require lesser maintenance.
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4. Report Description
Report Description and Highlights
Global Electric Vehicles Market Trends:
Growing environmental concerns, rapid urbanization, and increasing per capita income, particularly in
emerging economies, are primarily facilitating the demand for electronic vehicles across the globe. This
is further supported by extensive research and development (R&D) activities to engineer zero- and
low-emission vehicles with improved fuel efficiency and a strong, soundless engine.
Manufacturers are also aiming to reduce the dependence on other forms of fuels through considerable
investments in improving the charging infrastructure by launching vehicle-to-grid (V2G) charging
energy management system, which is acting as a major growth-inducing factor. Moreover, the
widespread adoption of resource-efficient production techniques, along with significant expansion in
the electronics.
automotive, and new energy sectors are also catalyzing the market growth. Additionally, governments
of various nations are undertaking favorable initiatives to provide subsidies, tax exemptions and free-
of-cost charging facilities to the users, which, in turn, is creating a positive outlook for the market.
Apart from this, the widespread adoption of lithium-ion and graphene-based batteries is further
helping key players to generate new business opportunities in the market.

5. Market Summary:
Breakup by Component:
• Battery Cells & Packs
• On-Board Charger
• Fuel Stack
Breakup by Charging Type:
• Slow Charging
• Fast Charging
Breakup Propulsion Type:
• Battery Electric Vehicle (BEV)
• Fuel Cell Electric Vehicle (FCEV)
• Plug-In Hybrid Electric Vehicle (PHEV)
• Hybrid Electric Vehicle (HEV)
Report Description
Report Description and Highlights

6. Breakup by Vehicle Type:
• Passenger Vehicles
• Commercial Vehicles
Breakup by Region:
• North America
• Asia Pacific
• Europe
• Middle East and Africa
• Latin America
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.
Report Description
Report Description and Highlights

7. Competitive Landscape With Key players:
• Bayerische Motoren Werke AG
• BYD Auto
• Chery
• Daimler AG
• Ford Motor Company
• Geely
• General Motors
• Honda Motor Company
• Hyundai Motor Company
• Nissan
• Renault
• SAIC Motor
• Tesla Inc
• Toyota Motor Corporation
• Volkswagen
View Report TOC, Figures and Tables: https://www.imarcgroup.com/electric-vehicles-market
Report Description
Report Description and Highlights

8. A partial List of our Clients
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world's leading corporates, governments, and
institutions
Partial List of Clients

9. A partial List of our Clients
We are the trusted business partners to the
world's leading corporates, governments, and
institutions
Partial List of Clients

10. Report Description
Report Description and Highlights
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