As per the latest report by IMARC Group, titled “Electric Vehicles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global electric vehicles market size reached 3.3 Million Units in 2019. An electric vehicle (EV) is a relatively new technology in the automotive industry that is rapidly gaining traction across the globe. They operate using an electric motor instead of an internal-combustion engine, which produces power by burning a mix of fuel and gases. As a result, they offer a number of benefits, which include energy-efficiency, easy maintenance and generating less greenhouse gases (GHGs). Owing to the rising pollution levels, increasing concerns about climate change and depleting natural resources, they are replacing conventional automobiles across the world.
Buy Full Report with TOC: https://www.imarcgroup.com/electric-vehicles-market
Some of the top manufacturers/ Key players in Electric Vehicles Market Include:
Global Electric Vehicles Market Trends:
A boost in the overall sales of EVs can be accredited to the reduction in the cost of batteries, availability of purchase incentives, and driving and parking access advantages. Apart from this, owing to the growing concerns about environmental degradation, there is a rise in the demand for fuel-efficient automobiles across the globe. In line with this, governments of several countries are offering subsidies, tax exemptions and free charging facilities to encourage the adoption of EVs. Furthermore, leading manufacturers in the industry are focusing on integrating advanced technologies for introducing zero- and low-emission vehicles with improved fuel efficiency, as well as soundless operations. Besides this, improvements in the EV charging infrastructure are also contributing to the market growth. Other factors anticipated to stimulate the market growth in the coming years include rapid urbanization, inflating income levels and extensive research and development (R&D) activities. On account of these factors, the market volume is projected to reach 32.8 Million Units by 2025, expanding at a CAGR of around 44% during the forecast period (2020-2025).
Request for a free sample copy of this report: https://www.imarcgroup.com/electric-vehicles-market/requestsample
Key Market Segmentation:
Browse More Research Reports by IMARC Group:
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Media ContactCompany Name: IMARC GroupContact Person: Richard LewisEmail: Send EmailPhone: 6317911145Address:309 2nd St City: BrooklynState: New YorkCountry: United StatesWebsite: https://www.imarcgroup.com/