Asia Pacific was the largest region in the passenger electric vehicles market in 2018. This region is expected to remain the largest during the next five years.
The passenger electric vehicle market consists of sales of passenger electric vehicles. Passenger electric vehicles use electric motors in the vehicles rather than gasoline-powered drivetrain for running. The passenger electric vehicles are powered by electricity from charging stations or by self-charging devices like turbochargers. Some examples of the vehicles covered under this market include Kia Soul EV, BMW i3, Volkswagen e-Golf, Tesla Model 3 and Tesla Model S.
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Passenger Electric Vehicles Market Size
The global passenger electric vehicles market was valued at about $50.4 billion in 2018 and is expected to grow to $122.3 billion at a CAGR of 24.8% through 2022.
The rising concerns towards the environmental factors including global warming and climate change, are increasing the demand for electric vehicles and subsequently driving the passenger electric vehicles market. Due to rising environmental concerns, more people have been shifting to alternate modes of transport which cause less pollution, this has resulted in a substantial increase in the purchase of electric vehicles across the globe. Electric vehicles are one of the most sustainable modes of transportation as they do not emit climate damaging greenhouse gases or health-harming nitrogen oxide. They are also relatively quieter and easier to operate. In 2015, as per a report by Union of Concerned Scientists, a mid-size gasoline car emitted around 430 grams of Carbon Dioxide per mile which was reduced by almost 105% to 210 grams (approximately) per mile by switching to electric vehicles. These factors are expected to boost the demand for electric vehicles and drive the market going forward.
Major players in the global passenger electric vehicles market include Tesla Motors, Inc., BMW AG, Nissan Motor Corporation, Ford Motor Company and Toyota Motor Corporation.
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Major Points From Table of Contents:
1. Executive Summary
2. Passenger Electric Vehicles Market Characteristics
3. Passenger Electric Vehicles Market Size And Growth
3.1. Global Passenger Electric Vehicles Historic Market, 2014 – 2018, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Passenger Electric Vehicles Forecast Market, 2018 – 2022F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Passenger Electric Vehicles Market Segmentation
4.1. Global Passenger Electric Vehicles Market, Segmentation By Type, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
Battery Electric Vehicle
Hybrid Electric Vehicle
Plug-in Hybrid Electric Vehicle
4.2. Global Passenger Electric Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
Sedan
Hatchback
SUV
4.3. Global Passenger Electric Vehicles Market, Segmentation By Charging Infrastructure, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
Normal Charging
High Power Charging
5. Passenger Electric Vehicles Market Regional And Country Analysis
5.1. Global Passenger Electric Vehicles Market, Split By Region, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
5.2. Global Passenger Electric Vehicles Market, Split By Country, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
6. Asia-Pacific Passenger Electric Vehicles Market
6.1. Asia-Pacific Passenger Electric Vehicles Market Overview
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