Global Electric Vehicles and Fuel Cell Vehicles Market 2024

Posted by Sonika on January 9th, 2020

Bharat Book Bureau Provides the Trending Market Research Report on “Electric Vehicles and Fuel Cell Vehicles: Global Markets”under Energy Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.

Global Electric Vehicles and Fuel Cell Vehicles Market

After decades of expensive development and false starts, the world is finally ready for EVs. For the purpose of this report, the term “electric vehicles” includes commercial approaches such as pure battery-powered, plug-in hybrid, hybrid internal combustion/battery, range extended, and FCVs, as well as vehicles powered by developmental power sources such as supercapacitors and flywheel. In addition to cars and trucks, this report considers motorcycles/ E-Bikes, scooters, buses, neighborhood EVs, self-driving carts, military vehicles, and locomotives.

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This report details actual figures for 2018 and compound annual growth rate (CAGR) projections for 2019 through 2024 for the global and four regional markets. Although this report discusses three future scenarios, pessimistic, consensus and optimistic, forecasts are provided for consensus scenario. Power source sales and values are provided. A patent analysis and discussion of power sources and vehicle components describes the areas in which research is being performed and emphasizes intellectual property issues.

Note that values are expressed in million dollars and shipments are expressed in 1,000 vehicles. In both cases, totals are rounded to the nearest integer (i.e., less than 0,000 is expressed as 0.)

Values are based on the equivalent of wholesale, or the price charged to the retailer prior to mark-up. However, advanced EVs are sold at a price below actual manufacturing cost. This may be due to regulatory compliance or the desire to establish a market before economics of scale kicks in. The cost to consumers may be reduced considerably when government subsidies or possible tax breaks are added to the dealer price.

As defined by Our Research for this report, EVs and FCVs include the following -
- HEVs.
- PHEVs.
- EVs (pure EVs).

Specific types of vehicles using these batteries include -
- Passenger vehicles (sedans, microcars, SUVs, crossover SUVs, pickup trucks, sports cars).
- Low-velocity vehicles (golf carts, neighborhood EVs, personal mobility devices).
- Scooters (two-wheelers, motorcycles, some three-wheelers).
- Buses.
- Commercial/industrial vehicles (material handling equipment, burden carriers, forklifts, trucks).
- Niche vehicles (self-driving vehicles, military equipment, locomotives).

This report defines the market sectors, identifies leading companies and analyzes the markets to provide a five-year market forecast. Finally, the company profiles section provides the status of and recent events for companies making power sources.

Report Includes:
- 71 data tables and 65 additional tables
- Descriptive study of the global markets for electric vehicles (EVs) and fuel cell vehicles (FCVs)
- Data corresponding to market value and unit shipments of commercially viable EVs, including hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and pure battery-powered electric vehicles (BEVs)
- Summary of details pertaining to power sources that make these vehicles possible, including lead-acid, nickel-metal hydride, lithium-ion batteries, and proton-exchange membrane fuel cells
- Identification of the companies that are best positioned to meet this demand because of their proprietary technologies, strategic alliances or other advantages
- Company profiles of leading market participants within the industry, including AC Propulsion, BMW, Eaton Corp., Detroit Electric, General Motors, Hyundai, Kia Motors, Mazda, Nissan Motor Co. and Porsche

The global electric vehicle (EV) market worth an estimated REDACTED in 2018 and is projected to reach REDACTED by 2024. This market is expected to grow at a CAGR of REDACTED between 2019 and 2024. BCC Research projects a REDACTED revenue for passenger EVs market by 2024. Although electric scooters have the largest share in terms of unit sales in overall EV market, passenger EV segment holds the highest share in terms of revenue among all the EV segments. The major growth of the EV market in terms of revenue is from the increasing passenger vehicles due to the increasing unit sales and higher unit sale cost compared to the electric scooters.

In 2018, it is estimated that nearly REDACTED battery-powered scooters and e-bikes were sold. This figure is significantly higher than unit sales of all other segments. Shipments of scooters/e-bikes are expected to grow to REDACTED by 2024, mainly based on expanded sales outside of China, especially in India. As of 2018, an estimated total of over REDACTED electric scooters were on the road, most of them powered by lead-acid batteries.

In geographic terms, Asia-Pacific leads the global electric vehicles market. China leads the Asia-Pacific region as well as the world market in terms of unit sales of electric cars/passenger cars. It is followed by Europe and the United states in terms of passenger car unit sales. China also leads the world market in electric scooters market in terms of unit sales and revenue.

Reasons for Doing This Study
The global market for EV power sources is continuing to grow in most market sectors. In the last decade, the predicted explosive growth was first blunted by the global recession, then the global collapse of gasoline prices, anticipated gasoline prices, relatively isolated safety concerns, and, in some cases, technology that has not always lived up to expectations. Although much of the world remains committed to widespread adoption of EVs to reduce climate change-inducing carbon dioxide generation, the current Trump administration is systematically rolling back Obama-era regulations that supported U.S. EV adoption.

On the other hand, the foundation for much wider EV use is now well established, and there are wellfinanced private and government-backed plans for the introduction of large numbers of next-generation vehicles. As the market for battery-powered vehicles grows, the emerging market for fuel cell-powered vehicles is poised for a break out due to their wider use. Even as street-ready proton exchange membrane fuel cell EVs hit the roads, a fundamental shift in hydrocarbon recovery is making natural gas more competitive with gasoline and diesel fuels.

With these opposing trends and developments in play, it is more important than ever to have access to an informed analysis of the industry’s status and possible scenarios, as well as a realistic assessment of the industry’s fortunes. This report provides this analysis, starting with a summary of the power storage technology involved and then moving on to detailed profiles of major power source makers, and finally presenting, with well-defined consensus for units sold, the value of these units, and prices.

Browse our full report with Table of Contents :

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Joined: January 22nd, 2019
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