Global Industry Analysts Predicts the World Electric Vehicles (EVs) Market to Reach 59 Million Units by 2026
SAN FRANCISCO, Sept. 8, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Electric Vehicles (EVs) – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 18; Released: April 2021
Executive Pool: 8584
Companies: 569 – Players covered include Bayerische Motoren Werke AG; BYD Company Limited; Daimler AG; DONGFENG ELECTRIC VEHICLE Co., LTD.; FDG Electric Vehicles Limited; Ford Motor Company; General Motors Company; Global Electric Motorcars (GEM); Groupe Renault; Honda Motor Co., Ltd.; Hyundai Motor Company; Karma Automotive; Lucid Motors; Mitsubishi Motors Corporation; NEXT Future Transportation Inc.; NextEV Ltd. (NIO); Nissan Motor Co., Ltd.; Tesla Motors Inc.; Toyota Motor Corp.; Volkswagen AG and Others.
Coverage: All major geographies and key segments
Segments: Product Segment (Battery Electric Vehicles (BEV), Plugin Hybrid Electric Vehicles (PHEV))
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Electric Vehicles (EVs) Market to Reach 59 Million Units by 2026
Amid the COVID-19 crisis, the global market for Electric Vehicles (EVs) estimated at 3.2 Million Units in the year 2020, is projected to reach a revised size of 59 Million Units by 2026, growing at a CAGR of 61.5% over the analysis period. Battery Electric Vehicles (BEV), one of the segments analyzed in the report, is projected to record a 60% CAGR and reach 59.8 Million Units by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Plugin Hybrid Electric Vehicles (PHEV) segment is readjusted to a revised 64.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at 1.7 Million Units in 2021, While China is Forecast to Reach 9.5 Million Units by 2026
The Electric Vehicles (EVs) market in the U.S. is estimated at 1.7 Million Units in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of 9.5 Million Units by the year 2026 trailing a CAGR of 58.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 54.9% and 52.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 41.5% CAGR. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
Director, Corporate Communications
Global Industry Analysts, Inc.
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SOURCE Global Industry Analysts, Inc.
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