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Full Report Description of Electric Vehicles Market is available
at:
According to the report, the global market for electric vehicle stood
at US$83.5 bn in 2012. The high operational cost associated with
traditional vehicles has prompted consumers to shift towards electric
vehicles, which is far more cost-efficient. Apart from this, the
eco-friendly nature of electric vehicles is also supporting their
adoption among consumers. However, the huge purchasing price as well
as limited movement range of electric vehicles is hampering the
growth of this market to a certain extent.
The report further states that innovation and technical advancements
are likely to propel this market over the forecast period. As of now,
manufacturers are focusing on developing durable and highly efficient
batteries in order to extend the driving range of these vehicles.
Electric cars, buses, motorcycles, scooters, trucks, and bicycles are
the major products available in the global electric vehicles market.
In 2012, the electric cars segment led the overall product market in
terms of revenue and was closely followed by electric bicycles and
trucks. The electric cars market is expected to remain the highest
revenue generating segment over the forecast period. In terms of
volume, the electric bicycles segment dominated the overall market in
2012 and is anticipated to maintain its position in the coming years,
says the market study.
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Regionally, the global electric vehicles market is distributed among
North America, Europe, Asia Pacific, and the Rest of the World. North
America emerged as the market leader in 2012, with a share of 38.3%
in the overall market. Various regulation to curb fuel consumption as
well as initiatives to promote the adoption of electric vehicles by
several North American governments have stimulated the demand for
these vehicles extensively in this region, notes the market study.
The Asia Pacific electric vehicle market is expected to be fueled by
the increasing regulatory as well as monetary support from
governments for R&D activities in this field. Various subsidies
and tax rebates offered by APAC governments on buying electric
vehicles are also projected to trigger the demand among consumers.
Additionally, various public education programs have also been
launched in this region in order to spread awareness about the
benefits provided by electric vehicles. All these factors are likely
to boost the Asia Pacific market for electric vehicles during the
forecast period.
Analysts at TMR predict that the initiatives taken by the governments
in Europe supporting green technologies in the automotive sector will
stimulate the Europe electric vehicle market significantly.
Tesla Motors Inc., General Motors Co., Nissan Motors Co., Mitsubishi
Motors Corp., Renault S.A., Volkswagen, Smith Electric Vehicles, AND
Daimler AG are some of the major players operating in the global
electric vehicles market, states the report.
The global electric vehicles market is segmented into:
By Products
> Electric Cars
> Hybrid electric cars
> Plug-in hybrid electric cars
> Battery electric cars
> Electric motorcycles and scooters
> Hybrid electric motorcycles
> Plug-in hybrid electric motorcycles
> Battery electric motorcycles
> Electric Buses
> Hybrid electric buses
> Battery electric buses
> Fuel cells electric buses
> Others
> Electric bicycles
> Trucks
By Region
> North America
> Asia Pacific
> Europe
> Rest of the World (RoW)
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