Global Electric Mobility Market Size By Product(Electric Car, Electric Scooter, Electric Bike), By Voltage(Less than 24V, 24V, 36V), By Battery(Sealed Lead Acid, NiMH), By Geographic Scope And Forecast
Global Electric Mobility Market Size By Product(Electric Car, Electric Scooter, Electric Bike), By Voltage(Less than 24V, 24V, 36V), By Battery(Sealed Lead Acid, NiMH), By Geographic Scope And Forecast
Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Electric Mobility Market size was valued at USD 245.12 billion in 2021, it is expected to reach USD 260.45 billion by the end of 2030, growing at a CAGR of 18% from 2023 to 2030.
The increasing awareness of greenhouse gases harming the environment and excessive carbon footprint is expected to grow the adoption of electric mobility in the forecast years. Â The Global Electric Mobility Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Electric Mobility Market Definition
Electric mobility refers to the use of electric-powered vehicles for transportation, including cars, bikes, buses, and even scooters. Several reasons, including as technological developments, growing worries about climate change, and a drive for more environmentally friendly means of transportation, have contributed to the tremendous expansion of the electric mobility industry in recent years.
Electric cars (EVs) and supporting infrastructure, such as charging stations and battery technologies, are both available on the market. The demand for electric mobility is anticipated to increase as more nations and localities adopt regulations to minimise carbon emissions. The market for electric mobility is also fuelling innovation in the automotive sector, with both major automakers and up-and-coming firms making significant investments in EV research and development. Electric mobility is positioned to overtake other players in the transportation industry as battery technology advances and prices fall.
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Electric Mobility Market Overview
The COVID-19 pandemic has been a mixed bag for electric vehicles. At first, demand dipped, but things are looking up! Experts predict the industry will bounce back and even grow in the coming years. Why? Well, economies are recovering, and governments are focusing on sustainable mobility as part of their recovery plans. The electric vehicle industry is gaining traction for several reasons. We're all more aware of the need to reduce carbon emissions and the urgency of tackling climate change. Governments are stepping up too, offering incentives like tax breaks and other goodies to encourage folks to go electric. Plus, technology is improving all the time! Batteries are getting better and cheaper, and the charging infrastructure is expanding, making EVs more practical for everyday use. Automakers are also pouring money into developing new models, so there's always something new on the horizon. Finally, consumers are changing their attitudes. As more people realize the environmental benefits and as EVs become more affordable and accessible, demand is expected to rise. This is especially true in cities, where congestion and air pollution are making people look for alternatives. It's an exciting time for electric mobility!
The electric car scene is buzzing with potential, but it's not all smooth sailing. One of the biggest hold-ups is the price tag – electric vehicles (EVs) can be pretty expensive upfront, putting them out of reach for many. Then there's the issue of chargingnot enough charging stations around makes some drivers hesitant. Nobody wants to be stranded with a dead battery! And speaking of batteries, "range anxiety" – that fear of running out of juice – is still a real concern, although improving battery tech is helping ease those worries. Looking ahead, the electric mobility world is full of exciting possibilities. More governments and companies are pushing for greener transportation, which is fueling the push to cut carbon emissions and tackle climate change. Better batteries with longer ranges and faster charging times will also get more people interested in EVs. Plus, new ways to use EVs, like ride-sharing and car-sharing, could make them more affordable and accessible. And as cities get smarter and more connected with things like the IoT, we'll see even more opportunities for electric mobility to thrive.
Electric Mobility MarketSegmentation Analysis
The electric mobility market is segmented by product, voltage, battery, and geography.
Electric Mobility Market, By Product
• Electric Car• Electric Scooter• Electric Bike• Electric Motorcycle• Other
The electric car segmented holds the highest revenue in the electric mobility market. It is dominating the market and expected to sustain its dominance. Factors like Government policy, rising fuel prices, and adoption of the EVs in the global market are supporting the growth of the electric car segment in the electric mobility market globally.
Electric Mobility Market, By Voltage
• Less than 24V• 24V• 36V• 48V• More than 48V
The 24 voltage is leading this segment of the electric mobility market. This is because 24V has the high compatibility as compared to the others. It is widely used for the electric vehicles and offer significant power outputs. Hence, the demand of 24V is rapidly growing in the market.
Electric Mobility Market, By Battery
• Sealed Lead Acid• NiMH• Li-ion
The Li-ion segment has the highest share in the electric mobility market. Rapid growing demand of the lithium-ion batteries is fostering the growth in this segment. besides this, the technological advancements are also supporting Li-ion segments growth.
Electric Mobility Market, By Geography
• North America• Europe• Asia Pacific• Latin America• Middle East and Africa
The Asia Pacific region is dominating the electric mobility market globally. Due to increasing adoption of the electric vehicles in this region, the electric mobility market is significantly growing. Furthermore, the increasing penetration of the EVs in developing countries like India, Japan, South Korea and others are also supporting the market growth in the forecast period.
Key Players
The key players of the electric mobility market include BMW Motorrad International, Honda Motor Co. Ltd., Mahindra Group, Suzuki Motor Corporation, Tesla, Ford, Gogoro Inc., KTM AG, Ninebot Ltd., and Yamaha Motor Company Limited.
Key Developments
• In September 2021, Tesla announced to launch its first ever manufacturing facility in India. It will manufacture advanced electric vehicles for the Indian market.
• In August 2021, Ford decided to invest $11.4 billion to launch 16 new electric vehicles models in the global market.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2019-2030
BASE YEAR
2022
FORECAST PERIOD
2023-2030
HISTORICAL PERIOD
2019-2021
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
BMW Motorrad International, Honda Motor Co. Ltd., Mahindra Group, Suzuki Motor Corporation, Tesla, Ford, Gogoro Inc., KTM AG, Ninebot Ltd., and Yamaha Motor Company Limited.
SEGMENTS COVERED
By Product, By Voltage, By Battery, and By Geography.
CUSTOMIZATION SCOPE
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Reasons to Purchase this Report
We dig into the market using both qualitative and quantitative analysis, looking at economic stuff, but also those harder-to-measure things, dividing the market into understandable segments. We'll give you the market value in USD Billion for each of these segments and sub-segments. You'll see which region and segment we think is going to grow the fastest and eventually take the lead. Our analysis will highlight how the product or service is being used in different regions, and what's influencing the market in each place. We'll map out the competitive landscape, showing you the market ranking of the big players, plus all the new product launches, partnerships, expansions, and acquisitions they've been up to in the last five years. We'll also give you detailed company profiles, with an overview, key insights, product comparisons, and a SWOT analysis for the major players. Expect a look at both the present and future of the industry, keeping an eye on recent developments like growth opportunities, drivers, challenges, and restraints in both up-and-coming and established regions. We'll give you an in-depth look at the market from all angles with Porter's five forces analysis, plus insight into the value chain. Finally, we'll lay out the market dynamics, highlighting growth opportunities in the years ahead, and include 6 months of analyst support after the sale.
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