Electric Passenger Cars Market to surpass USD 2.03 billion by 2031, Forecast, Size, Share, Various Segments, Regional
Electric Passenger Cars Market to surpass USD 2.03 billion by 2031 from USD 0.24 billion in 2021 at a CAGR of 23.64% in the coming years, i.e., 2021-31.
PHILADELPHIA, UNITED STATES , February 1, 2022 /EINPresswire.com/ -- Fatpos Global has released a report titled “Electric Passenger Cars Market - Analysis of Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2031” which is anticipated to reach USD 2.03 billion by 2031. According to a study by Fatpos Global, the market is anticipated to portray a CAGR of 23.64% between 2021 and 2031. According to the report, Factors such as surge in demand for fuel-efficient, high-performance, and low-emission automobiles coupled with severe government rules and policies toward vehicle emission supplements the growth of the electric vehicle market. Additionally, factors such as technological improvements and proactive government mandates supplement the growth of the electric vehicle market during the forecast years.
“Due to technological improvements and the production of EV batteries on a mass scale in large volumes, the cost of EV batteries has been declining over the past decade. This has caused a decrease in cost of the electric vehicles as EV batteries are one of the most expensive parts of an electric vehicle. The cost of EV batteries is anticipated to fall to around USD 60 per kWh by 2030, which will greatly reduce the price of EV’s making them cheaper than conventional ICE automobiles”, said a lead analyst at Fatpos Global.
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Note- This report sample includes
• Brief Introduction to the research report.
• Table of Contents (Scope covered as a part of the study)
• Research methodology
• Key Player mentioned in the report
• Data presentation
• Market Taxonomy
• Size & Share Analysis
• Post COVID-19 Impact Analysis
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Global Electric Passenger Cars: Key Players
• Tesla (US)
• BYD (China)
• Volkswagen AG (Germany)
• BMW Group (Germany)
• Nissan Motors (Japan)
• Other Prominent Players
Electric Passenger car or battery-electric car is an automobile that is driven by one or more electric motors, by means of energy stored in batteries. Associated with internal combustion engine (ICE) vehicles, electric cars are quieter, have no exhaust releases, and less emissions overall.
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In the new report, Fatpos Global thrives to present an unbiased analysis of the global Electric Passenger Cars Market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2031. The study includes compelling insights into growth that is witnessed in the market. Global Electric Passenger Cars market is segmented by Vehicle into Passenger Cars, CV; Propulsion into BEV, PHEV, FCEV; By Vehicle Drive Type into FWD, RWD, AWD. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East and Africa.
• North America:(U.S. and Canada)
• Latin America: (Brazil, Mexico, Argentina, Rest of Latin America)
• Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe)
• Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific)
• Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa)
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Electric Passenger Cars Segments:
• Passenger Cars
By Vehicle Drive Type
Fatpos Global is a consulting and research firm focused on market research, business services, and sourcing. We have trusted advisors to senior executives of leading enterprises, providers, and investors. Our firm helps clients improve operational and financial performance through a hands-on process that supports them in making well-informed decisions that deliver high-impact results and achieve sustained value. Our insight and guidance empower clients to improve organizational efficiency, effectiveness, agility, and responsiveness.