Global New Energy Vehicles Market By Vehicle Type (Passenger cars, Buses, Industrial Vehicles, Scooters, Others), Energy Type (BEV’s, PHEV’s, FCEV’s), Power Source (Stored Electricity, On Board Electric Generator), Powertrain (Series Hybrid, Parallel Hybrid, Combined Hybrid), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global New Energy Vehicles Market
Global new energy vehicles market is to register a growing CAGR in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. The rise in the market value can be attributed to surging preference for energy efficient vehicles and various government initiatives.
Market Definition: Global New Energy Vehicles Market
The word "new energy vehicle" is used for automobiles such as plug-in electric vehicles and automobiles that run or work on electric batteries. The amount of cars that use petroleum fuel is growing day by day, emitting oxide of nitrogen and oxide of sulfur, causing pollution. A new design, a new energy vehicle, was implemented to avoid this by government in different nations. In electric battery energy is stored inside the vehicle, making it operable. These automobiles do not need any kind of environmentally dangerous fuel, gas or oil.
- Surging preference for energy efficient vehicles is driving the growth of the market
- Various initiatives by government is helping to grow the market
- Environmental awareness among people is flourishing the market growth
- Fast charging availability in private and public are drives the market growth
- Lack of knowledge about energy efficient vehicles hinders the market growth
- Improper charging infrastructure is hampering the market growth
Segmentation: Global New Energy Vehicles Market
By Vehicle Type
- Passenger cars
- Industrial Vehicles
By Energy Type
By Power Source
- Stored Electricity
- On Board Electric Generator
- Series Hybrid
- Parallel Hybrid
- Combined Hybrid
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market
- In June 2019, Kia Motors is planning to launch cost effective electric vehicles in India in partnership with Hyundai Motors and with government support under FAME II scheme. Hyundai Motor Group is also launching four new models including its upcoming SUV Seltos.
- In August 2019, Tesla launched Model 3 in South Korea. Under 10 hours, these vehicles can be fully charged. They are very cost effective and have advantages of small pack of batteries. Tesla has to face strict regulations of the government in South Korea.
Global new energy vehicles market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of global new energy vehicles market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Major Market Competitors/Players
Few of the major competitors currently working in the global new energy vehicles market are Toyota Kirloskar Motor, Nissan, Tesla, Mitsubishi Electric Corporation, General Motors, Ford Motor Company, BMW AG, Renault, AB Volvo, Daimler AG, Volkswagen, Honda Motor Company, Fiat Automobiles, BYD Company Ltd, CHERY, ZOTYE AUTO Zotye Holding Group, YUTONG, BAIC Group, ETW International., Zhongtong Bus, Geely Auto, SAIC Motor Corporation Limited and JAC Motors among others.
Research Methodology: Global New Energy Vehicles Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved