The New Energy Vehicles market was valued at US$ 96550 million in 2020 and is projected to reach US$ 286340 million by 2027, at a CAGR of 16.8% during 2021-2027. Changing consumer sentiment towards the electric vehicle due to continuous drop in initial purchase cost, low maintenance cost, growing charging infrastructure and better driving experience.
In terms of the production side, this report researches the New Energy Vehicles capacity, production, growth rate, market share by manufacturers and regions (or countries), from 2016 to 2020, and forecast to 2027.
In terms of the sales side, this report focuses on the sales of New Energy Vehicles by regions (countries), company, by Type and by Application. from 2016 to 2020 and forecast to 2027.
The demand for new energy vehicles has been driven by rising environmental issues and growing demand for pollution-free and energy-efficient transportation solutions around the world. Research has shown that electric cars are better for the environment. They emit fewer greenhouse gases and air pollutants than a petrol or diesel car.
The rising government initiative to increase the adoption of EVs is expected to drive the growth of new energy vehicle market size. Many governments have offered compelling financial incentives to make the EV switch, such as providing cash subsidies to consumers buying low-emission vehicles, reducing taxes on EVs, and increasing or maintaining taxes on ICE vehicles.
Changing consumer sentiment towards the electric vehicle is expected to drive the growth of new energy vehicle market size. HEV, PHEV & EV are becoming a more practical and viable choice as the obstacles such as driving range, cost of ownership are rapidly eliminated.
The global New Energy Vehicles market is thoroughly, accurately, and comprehensively assessed in the report with a large focus on market dynamics, market competition, regional growth, segmental analysis, and key growth strategies. Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global New Energy Vehicles market. These figures have been provided in terms of both revenue and volume for the period 2016-2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
Ans. The global new energy vehicles market size was valued at US$ 96550 million in 2020 and is projected to reach US$ 286340 million by 2027, at a CAGR of 16.8% during 2021-2027.
Ans. The rising government initiative to increase the adoption of EVs is expected to drive the growth of new energy vehicle market size.
Ans. The top companies operating in the new energy vehicles market include TOYOTA, Nissan, Tesla, Mitsubishi, GM, Ford, BMW, Renault, Volvo, Mercedes-Benz, Volkswagen, Honda, FIAT, BYD, Chery, ZOTYE, Yutong, BAIC, King-long, Zhong Tong, Geely, SAIC, JAC.
Ans. The forecast period for the new energy vehicles market is 2021 to 2027
Ans. The Asia Pacific is expected to be one of the most lucrative regions due to its large consumer base and increasing adoption of new energy vehicles.
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