Electric Cars Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Electric Sports Utility Vehicle Market Trends and is segmented by Body Type (Passenger Cars), by Fuel Type (BEV, FCEV, HEV, PHEV) and by Region (Africa, Asia-Pacific, Europe, Middle East, Miidle East, North America, South America)

Home right-chevron-icon Market Analysis right-chevron-icon Automotive Research right-chevron-icon Vehicles Research right-chevron-icon Zero Emission Vehicles Research right-chevron-icon Zero Emission EVs Research right-chevron-icon Electric Sports Utility Vehicle Industry

Electric Cars Market Size

Global Electric Cars Market
share button
https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2016 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 0.52 Trillion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 1.12 Trillion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 16.59 %
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Sub Body Type Sports Utility Vehicle
https://s3.mordorintelligence.com/globe/1629285706162_test~globe_globe.svg Largest Share by Region Europe

Major Players
major-player-company-image major-player-company-image major-player-company-image major-player-company-image

*Disclaimer: Major Players sorted in no particular order

Key Players

WHY BUY FROM US?
1. CRISP & INSIGHTFUL
2. TRUE BOTTOM-UP
3. EXHAUSTIVENESS
4. TRANSPARENCY
5. CONVENIENCE
KNOW MORE

Electric Cars Market Analysis

The Global Electric Cars Market size is estimated at USD 0.52 trillion in 2024, and is expected to reach USD 1.12 trillion by 2029, growing at a CAGR of 16.59% during the forecast period (2024-2029).

  • Largest Segment by Fuel Type - BEV : Increase in global electrification, new product launches, awareness of battery vehicles, Government offerings, such as incentives, and electric infrastructure development are fueling demand for BEV.
  • Fastest-growing Segment by Fuel Type - FCEV : increasing fuel cost is shifting consumers to electric vehicles, due to Better fuel efficiency, and no range anxiety issues PHEV is the fastest-growing segment in electric vehicle market in globally.
  • Largest Country Market - Germany : China is the largest country in the global electric car market, as the country is the major producer of electric vehicles, government norms and incentives are aided to the growth of market.
  • Fastest Growing Country Market - Mexico : The United States is the fastest-growing country in the global electric cars market. Government plans to ban ICE vehicles and incentives offered by the government is shifting consumer to e-mobility.

Electric Cars Market Trends

This section covers the major market trends shaping the Electric Cars Market according to our research experts:

Sports Utility Vehicle is the largest segment by Sub Body Type.

  • One of the industries most affected by the global chip shortages and supply chain disruptions brought on by the coronavirus pandemic is the automotive sector. This has not stopped Tesla from coming under fire for contributing to climate change, whether through the manufacturing process or the automobiles produced. Regarding the latter, European Union car buyers appear to be contributing to reducing the negative effects of fossil fuel-powered vehicles.
  • The past year has seen a substantial effect of the coronavirus pandemic on global auto markets. As more and more nations restricted travel due to COVID-19 in 2020, the automotive industry experienced a number of setbacks. In 2020, there were 63.8 million cars sold worldwide. A slight rebound is expected in 2021, with 66 million cars expected to be sold. Toyota and the Volkswagen Group both saw reductions in their deliveries of more than a million cars.
  • In 2021, approximately 56.4 million passenger cars were sold worldwide, representing a nearly 5% increase over the previous year. China had the largest regional automobile market in 2021, with slightly less than 21.5 million units. Automotive technology will undergo significant change in the next ten years. Around 26% of new automobile sales worldwide are expected to be electric vehicles by 2030, with an estimated 58 million new self-driving cars added to the global fleet by 2022. As a result of technological advancements, the types of components required to create the finished product begin to change. This allows for further segmentation of the automotive supplier market, particularly the automotive electronics market. Automation and electrification will surely boost the car market in the near future.
Global Electric Cars Market

Europe is the largest segment by Region.

  • Consumer spending on electric car purchases increased to USD 120 billion in 2020. Governments worldwide spent nearly USD 14 billion to encourage the sales of electric vehicles, which increased by 25% in 2019, primarily due to increased incentives in Europe. The output of automotive batteries increased by 33% from 2019 to 160 GWh, and their cost decreased by 13% to an average of USD 137/kWh per battery pack globally in 2020. Worldwide government National EV Policy stipulates that when buying or leasing an electric vehicle (EV), whether new or used, drivers are exempt from both purchase tax and VAT. EV owners are also excluded from paying an annual road traffic insurance charge.
  • Many government policies boast the world's largest per capita fleet of plug-in electric cars and offer several enticing incentives for buying electric vehicles. For instance, there are currently more than 16,000 charging stations in Norway, up from just 3,000 in 2011. On all important routes, including the highest fast-charging station in the entire world, the Norwegian government has erected fast-charging stations every 50 km. EV charging stations appear to have a promising future in Norway.
  • There are several highly attractive incentives for electric vehicles globally. Overall, many countries signed Paris climate policy targets, which call for a 40% decrease in greenhouse gas emissions by 2030, which are supported by the automobile policy. National vehicle targets, including the sale of entirely zero-emission cars by 2030, were already established by the National Transport Plan in 2017. Norway has also committed to reducing greenhouse gas emissions by at least 40% by 2030. These factors are all expected to boost the Norwegian electric car market over the forecast period.
Global Electric Cars Market

Electric Cars Industry Overview

The Global Electric Cars Market is fairly consolidated, with the top five companies occupying 71.50%. The major players in this market are BYD Motors Inc., General Motors Company, Groupe Renault, Tesla Inc. and Volkswagen AG (sorted alphabetically).

Electric Cars Market Leaders

  1. BYD Motors Inc.

  2. General Motors Company

  3. Groupe Renault

  4. Tesla Inc.

  5. Volkswagen AG

*Disclaimer: Major Players sorted in no particular order

Global Electric Cars Market
bookmark Need More Details on Market Players and Competitors?
Download Sample

Electric Cars Market News

  • September 2022: The City of Long Beach has partnered with Mercedes-Benz Research & Development North America, with assistance from Mercedes-Benz USA Urban Mobility Solutions and Xtelligent, to create transportation technology systems that will enhance liveability and environmental sustainability.
  • June 2022: DAIMLER AG subsidiary Mercedes-Benz has launched all-electric EQB SUV in 2022. It provides 2 models for the U.S. market such as Exclusive and Pinnacle.
  • June 2022: Nissan and Wallbox, a major provider of electric vehicle charging solutions are working together to provide Nissan electric car owners with a convenient one-stop-shop for their home charging requirements.

Electric Cars Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1. Study Assumptions & Market Definition

    2. 1.2. Scope of the Study

    3. 1.3. Research Methodology

  2. 2. KEY INDUSTRY TRENDS

    1. 2.1. Population

    2. 2.2. GDP

    3. 2.3. CVP

    4. 2.4. Inflation Rate

    5. 2.5. Interest Rate For Auto Loans

    6. 2.6. Battery Price (per Kwh)

    7. 2.7. Logistics Performance Index

    8. 2.8. Electrification Impact

    9. 2.9. New XEV Models Announced

    10. 2.10. Charging Stations Deployment

    11. 2.11. Regulatory Framework

    12. 2.12. Value Chain & Distribution Channel Analysis

  3. 3. MARKET SEGMENTATION

    1. 3.1. Body Type

      1. 3.1.1. Passenger Cars

        1. 3.1.1.1. Hatchback

        2. 3.1.1.2. Multi-purpose Vehicle

        3. 3.1.1.3. Sedan

        4. 3.1.1.4. Sports Utility Vehicle

    2. 3.2. Fuel Type

      1. 3.2.1. BEV

      2. 3.2.2. FCEV

      3. 3.2.3. HEV

      4. 3.2.4. PHEV

    3. 3.3. Region

      1. 3.3.1. Africa

        1. 3.3.1.1. South Africa

      2. 3.3.2. Asia-Pacific

        1. 3.3.2.1. Australia

        2. 3.3.2.2. China

        3. 3.3.2.3. India

        4. 3.3.2.4. Indonesia

        5. 3.3.2.5. Japan

        6. 3.3.2.6. Malaysia

        7. 3.3.2.7. South Korea

        8. 3.3.2.8. Thailand

        9. 3.3.2.9. Rest-of-APAC

      3. 3.3.3. Europe

        1. 3.3.3.1. Austria

        2. 3.3.3.2. Belgium

        3. 3.3.3.3. Czech Republic

        4. 3.3.3.4. Denmark

        5. 3.3.3.5. Estonia

        6. 3.3.3.6. France

        7. 3.3.3.7. Germany

        8. 3.3.3.8. Ireland

        9. 3.3.3.9. Italy

        10. 3.3.3.10. Latvia

        11. 3.3.3.11. Lithuania

        12. 3.3.3.12. Norway

        13. 3.3.3.13. Poland

        14. 3.3.3.14. Russia

        15. 3.3.3.15. Spain

        16. 3.3.3.16. Sweden

        17. 3.3.3.17. UK

        18. 3.3.3.18. Rest-of-Europe

      4. 3.3.4. Middle East

        1. 3.3.4.1. UAE

        2. 3.3.4.2. Rest-of-MEA

      5. 3.3.5. Miidle East

      6. 3.3.6. North America

        1. 3.3.6.1. Canada

        2. 3.3.6.2. Mexico

        3. 3.3.6.3. US

        4. 3.3.6.4. Rest-of-North America

      7. 3.3.7. South America

        1. 3.3.7.1. Rest-of-Latin America

  4. 4. COMPETITIVE LANDSCAPE

    1. 4.1. Key Strategic Moves

    2. 4.2. Market Share Analysis

    3. 4.3. Company Landscape

    4. 4.4. Company Profiles

      1. 4.4.1. BYD Motors Inc.

      2. 4.4.2. Daimler AG

      3. 4.4.3. Ford Motor Company

      4. 4.4.4. General Motors Company

      5. 4.4.5. Groupe Renault

      6. 4.4.6. Nissan Motor Company Ltd

      7. 4.4.7. Tesla Inc.

      8. 4.4.8. Toyota motor corporation

      9. 4.4.9. Volkswagen AG

  5. 5. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS

  6. 6. APPENDIX

    1. 6.1. Global Overview

      1. 6.1.1. Overview

      2. 6.1.2. Porter's Five Forces Framework

      3. 6.1.3. Global Value Chain Analysis

      4. 6.1.4. Market Dynamics (DROs)

    2. 6.2. Sources & References

    3. 6.3. List of Tables & Figures

    4. 6.4. Primary Insights

    5. 6.5. Data Pack

    6. 6.6. Glossary of Terms

List of Tables & Figures

  1. Figure 1:  
  2. GLOBAL ELECTRIC CARS MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 2:  
  2. GLOBAL ELECTRIC CARS MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 3:  
  2. GLOBAL ELECTRIC CARS MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 4:  
  2. GLOBAL ELECTRIC CARS MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 5:  
  2. GLOBAL ELECTRIC CARS MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 6:  
  2. GLOBAL ELECTRIC CARS MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 7:  
  2. GLOBAL ELECTRIC CARS MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 8:  
  2. GLOBAL ELECTRIC CARS MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 9:  
  2. GLOBAL ELECTRIC CARS MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 10:  
  2. GLOBAL ELECTRIC CARS MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 11:  
  2. GLOBAL ELECTRIC CARS MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 12:  
  2. GLOBAL ELECTRIC CARS MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 13:  
  2. GLOBAL ELECTRIC CARS MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 14:  
  2. GLOBAL ELECTRIC CARS MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 15:  
  2. GLOBAL ELECTRIC CARS MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 16:  
  2. GLOBAL ELECTRIC CARS MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 17:  
  2. GLOBAL ELECTRIC CARS MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 18:  
  2. GLOBAL ELECTRIC CARS MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 19:  
  2. GLOBAL ELECTRIC CARS MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 20:  
  2. GLOBAL ELECTRIC CARS MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 21:  
  2. GLOBAL ELECTRIC CARS MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 22:  
  2. GLOBAL ELECTRIC CARS MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 23:  
  2. GLOBAL ELECTRIC CARS MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 24:  
  2. GLOBAL ELECTRIC CARS MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 25:  
  2. GLOBAL ELECTRIC CARS MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 26:  
  2. GLOBAL ELECTRIC CARS MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 27:  
  2. GLOBAL ELECTRIC CARS MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 28:  
  2. GLOBAL ELECTRIC CARS MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 29:  
  2. GLOBAL ELECTRIC CARS MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 30:  
  2. GLOBAL ELECTRIC CARS MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 31:  
  2. GLOBAL ELECTRIC CARS MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 32:  
  2. GLOBAL ELECTRIC CARS MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 33:  
  2. GLOBAL ELECTRIC CARS MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 34:  
  2. GLOBAL ELECTRIC CARS MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 35:  
  2. GLOBAL ELECTRIC CARS MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 36:  
  2. GLOBAL ELECTRIC CARS MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 37:  
  2. GLOBAL ELECTRIC CARS MARKET, LPI YOY GROWTH RATE, 2016 – 2026
  1. Figure 38:  
  2. GLOBAL ELECTRIC CARS MARKET, LPI YOY GROWTH RATE, 2016 – 2026
  1. Figure 39:  
  2. GLOBAL ELECTRIC CARS MARKET, LPI YOY GROWTH RATE, 2016 – 2026
  1. Figure 40:  
  2. GLOBAL ELECTRIC CARS MARKET, LPI YOY GROWTH RATE, 2016 – 2026
  1. Figure 41:  
  2. GLOBAL ELECTRIC CARS MARKET, LPI YOY GROWTH RATE, 2016 – 2026
  1. Figure 42:  
  2. GLOBAL ELECTRIC CARS MARKET, LPI YOY GROWTH RATE, 2016 – 2026
  1. Figure 43:  
  2. GLOBAL ELECTRIC CARS MARKET, ELECTRIFICATION IMPACT, VOLUME, YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 44:  
  2. GLOBAL ELECTRIC CARS MARKET, CHARGING STATIONS DEPLOYMENT, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
  1. Figure 45:  
  2. GLOBAL ELECTRIC CARS MARKET, VOLUME IN UNITS, 2016 – 2026
  1. Figure 46:  
  2. GLOBAL ELECTRIC CARS MARKET, VALUE IN USD, 2016 – 2026
  1. Figure 47:  
  2. GLOBAL ELECTRIC CARS MARKET, BY SUB BODY TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 48:  
  2. GLOBAL ELECTRIC CARS MARKET, BY SUB BODY TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 49:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
  1. Figure 50:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
  1. Figure 51:  
  2. GLOBAL ELECTRIC CARS MARKET, BY HATCHBACK, BY VOLUME IN UNITS, 2016-2028
  1. Figure 52:  
  2. GLOBAL ELECTRIC CARS MARKET, BY HATCHBACK, BY VALUE IN USD, 2016-2028
  1. Figure 53:  
  2. GLOBAL ELECTRIC CARS MARKET, BY MULTI-PURPOSE VEHICLE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 54:  
  2. GLOBAL ELECTRIC CARS MARKET, BY MULTI-PURPOSE VEHICLE, BY VALUE IN USD, 2016-2028
  1. Figure 55:  
  2. GLOBAL ELECTRIC CARS MARKET, BY SEDAN, BY VOLUME IN UNITS, 2016-2028
  1. Figure 56:  
  2. GLOBAL ELECTRIC CARS MARKET, BY SEDAN, BY VALUE IN USD, 2016-2028
  1. Figure 57:  
  2. GLOBAL ELECTRIC CARS MARKET, BY SPORTS UTILITY VEHICLE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 58:  
  2. GLOBAL ELECTRIC CARS MARKET, BY SPORTS UTILITY VEHICLE, BY VALUE IN USD, 2016-2028
  1. Figure 59:  
  2. GLOBAL ELECTRIC CARS MARKET, BY FUEL TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 60:  
  2. GLOBAL ELECTRIC CARS MARKET, BY FUEL TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 61:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 62:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 63:  
  2. GLOBAL ELECTRIC CARS MARKET, BY BEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 64:  
  2. GLOBAL ELECTRIC CARS MARKET, BY BEV, BY VALUE IN USD, 2016-2028
  1. Figure 65:  
  2. GLOBAL ELECTRIC CARS MARKET, BY FCEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 66:  
  2. GLOBAL ELECTRIC CARS MARKET, BY FCEV, BY VALUE IN USD, 2016-2028
  1. Figure 67:  
  2. GLOBAL ELECTRIC CARS MARKET, BY HEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 68:  
  2. GLOBAL ELECTRIC CARS MARKET, BY HEV, BY VALUE IN USD, 2016-2028
  1. Figure 69:  
  2. GLOBAL ELECTRIC CARS MARKET, BY PHEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 70:  
  2. GLOBAL ELECTRIC CARS MARKET, BY PHEV, BY VALUE IN USD, 2016-2028
  1. Figure 71:  
  2. GLOBAL ELECTRIC CARS MARKET, BY REGION, BY VOLUME IN UNITS, 2016-2028
  1. Figure 72:  
  2. GLOBAL ELECTRIC CARS MARKET, BY REGION, BY VALUE IN USD, 2016-2028
  1. Figure 73:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY REGION, 2016 - 2028
  1. Figure 74:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY REGION, 2016 - 2028
  1. Figure 75:  
  2. GLOBAL ELECTRIC CARS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 76:  
  2. GLOBAL ELECTRIC CARS MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
  1. Figure 77:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 78:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 79:  
  2. GLOBAL ELECTRIC CARS MARKET, BY SOUTH AFRICA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 80:  
  2. GLOBAL ELECTRIC CARS MARKET, BY SOUTH AFRICA, BY VALUE IN USD, 2016-2028
  1. Figure 81:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 82:  
  2. GLOBAL ELECTRIC CARS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 83:  
  2. GLOBAL ELECTRIC CARS MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
  1. Figure 84:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 85:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 86:  
  2. GLOBAL ELECTRIC CARS MARKET, BY AUSTRALIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 87:  
  2. GLOBAL ELECTRIC CARS MARKET, BY AUSTRALIA, BY VALUE IN USD, 2016-2028
  1. Figure 88:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 89:  
  2. GLOBAL ELECTRIC CARS MARKET, BY CHINA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 90:  
  2. GLOBAL ELECTRIC CARS MARKET, BY CHINA, BY VALUE IN USD, 2016-2028
  1. Figure 91:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 92:  
  2. GLOBAL ELECTRIC CARS MARKET, BY INDIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 93:  
  2. GLOBAL ELECTRIC CARS MARKET, BY INDIA, BY VALUE IN USD, 2016-2028
  1. Figure 94:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 95:  
  2. GLOBAL ELECTRIC CARS MARKET, BY INDONESIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 96:  
  2. GLOBAL ELECTRIC CARS MARKET, BY INDONESIA, BY VALUE IN USD, 2016-2028
  1. Figure 97:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 98:  
  2. GLOBAL ELECTRIC CARS MARKET, BY JAPAN, BY VOLUME IN UNITS, 2016-2028
  1. Figure 99:  
  2. GLOBAL ELECTRIC CARS MARKET, BY JAPAN, BY VALUE IN USD, 2016-2028
  1. Figure 100:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 101:  
  2. GLOBAL ELECTRIC CARS MARKET, BY MALAYSIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 102:  
  2. GLOBAL ELECTRIC CARS MARKET, BY MALAYSIA, BY VALUE IN USD, 2016-2028
  1. Figure 103:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 104:  
  2. GLOBAL ELECTRIC CARS MARKET, BY SOUTH KOREA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 105:  
  2. GLOBAL ELECTRIC CARS MARKET, BY SOUTH KOREA, BY VALUE IN USD, 2016-2028
  1. Figure 106:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 107:  
  2. GLOBAL ELECTRIC CARS MARKET, BY THAILAND, BY VOLUME IN UNITS, 2016-2028
  1. Figure 108:  
  2. GLOBAL ELECTRIC CARS MARKET, BY THAILAND, BY VALUE IN USD, 2016-2028
  1. Figure 109:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 110:  
  2. GLOBAL ELECTRIC CARS MARKET, BY REST-OF-APAC, BY VOLUME IN UNITS, 2016-2028
  1. Figure 111:  
  2. GLOBAL ELECTRIC CARS MARKET, BY REST-OF-APAC, BY VALUE IN USD, 2016-2028
  1. Figure 112:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 113:  
  2. GLOBAL ELECTRIC CARS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 114:  
  2. GLOBAL ELECTRIC CARS MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
  1. Figure 115:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 116:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 117:  
  2. GLOBAL ELECTRIC CARS MARKET, BY AUSTRIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 118:  
  2. GLOBAL ELECTRIC CARS MARKET, BY AUSTRIA, BY VALUE IN USD, 2016-2028
  1. Figure 119:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 120:  
  2. GLOBAL ELECTRIC CARS MARKET, BY BELGIUM, BY VOLUME IN UNITS, 2016-2028
  1. Figure 121:  
  2. GLOBAL ELECTRIC CARS MARKET, BY BELGIUM, BY VALUE IN USD, 2016-2028
  1. Figure 122:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 123:  
  2. GLOBAL ELECTRIC CARS MARKET, BY CZECH REPUBLIC, BY VOLUME IN UNITS, 2016-2028
  1. Figure 124:  
  2. GLOBAL ELECTRIC CARS MARKET, BY CZECH REPUBLIC, BY VALUE IN USD, 2016-2028
  1. Figure 125:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 126:  
  2. GLOBAL ELECTRIC CARS MARKET, BY DENMARK, BY VOLUME IN UNITS, 2016-2028
  1. Figure 127:  
  2. GLOBAL ELECTRIC CARS MARKET, BY DENMARK, BY VALUE IN USD, 2016-2028
  1. Figure 128:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 129:  
  2. GLOBAL ELECTRIC CARS MARKET, BY ESTONIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 130:  
  2. GLOBAL ELECTRIC CARS MARKET, BY ESTONIA, BY VALUE IN USD, 2016-2028
  1. Figure 131:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 132:  
  2. GLOBAL ELECTRIC CARS MARKET, BY FRANCE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 133:  
  2. GLOBAL ELECTRIC CARS MARKET, BY FRANCE, BY VALUE IN USD, 2016-2028
  1. Figure 134:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 135:  
  2. GLOBAL ELECTRIC CARS MARKET, BY GERMANY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 136:  
  2. GLOBAL ELECTRIC CARS MARKET, BY GERMANY, BY VALUE IN USD, 2016-2028
  1. Figure 137:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 138:  
  2. GLOBAL ELECTRIC CARS MARKET, BY IRELAND, BY VOLUME IN UNITS, 2016-2028
  1. Figure 139:  
  2. GLOBAL ELECTRIC CARS MARKET, BY IRELAND, BY VALUE IN USD, 2016-2028
  1. Figure 140:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 141:  
  2. GLOBAL ELECTRIC CARS MARKET, BY ITALY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 142:  
  2. GLOBAL ELECTRIC CARS MARKET, BY ITALY, BY VALUE IN USD, 2016-2028
  1. Figure 143:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 144:  
  2. GLOBAL ELECTRIC CARS MARKET, BY LATVIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 145:  
  2. GLOBAL ELECTRIC CARS MARKET, BY LATVIA, BY VALUE IN USD, 2016-2028
  1. Figure 146:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 147:  
  2. GLOBAL ELECTRIC CARS MARKET, BY LITHUANIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 148:  
  2. GLOBAL ELECTRIC CARS MARKET, BY LITHUANIA, BY VALUE IN USD, 2016-2028
  1. Figure 149:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 150:  
  2. GLOBAL ELECTRIC CARS MARKET, BY NORWAY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 151:  
  2. GLOBAL ELECTRIC CARS MARKET, BY NORWAY, BY VALUE IN USD, 2016-2028
  1. Figure 152:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 153:  
  2. GLOBAL ELECTRIC CARS MARKET, BY POLAND, BY VOLUME IN UNITS, 2016-2028
  1. Figure 154:  
  2. GLOBAL ELECTRIC CARS MARKET, BY POLAND, BY VALUE IN USD, 2016-2028
  1. Figure 155:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 156:  
  2. GLOBAL ELECTRIC CARS MARKET, BY RUSSIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 157:  
  2. GLOBAL ELECTRIC CARS MARKET, BY RUSSIA, BY VALUE IN USD, 2016-2028
  1. Figure 158:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 159:  
  2. GLOBAL ELECTRIC CARS MARKET, BY SPAIN, BY VOLUME IN UNITS, 2016-2028
  1. Figure 160:  
  2. GLOBAL ELECTRIC CARS MARKET, BY SPAIN, BY VALUE IN USD, 2016-2028
  1. Figure 161:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 162:  
  2. GLOBAL ELECTRIC CARS MARKET, BY SWEDEN, BY VOLUME IN UNITS, 2016-2028
  1. Figure 163:  
  2. GLOBAL ELECTRIC CARS MARKET, BY SWEDEN, BY VALUE IN USD, 2016-2028
  1. Figure 164:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 165:  
  2. GLOBAL ELECTRIC CARS MARKET, BY UK, BY VOLUME IN UNITS, 2016-2028
  1. Figure 166:  
  2. GLOBAL ELECTRIC CARS MARKET, BY UK, BY VALUE IN USD, 2016-2028
  1. Figure 167:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 168:  
  2. GLOBAL ELECTRIC CARS MARKET, BY REST-OF-EUROPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 169:  
  2. GLOBAL ELECTRIC CARS MARKET, BY REST-OF-EUROPE, BY VALUE IN USD, 2016-2028
  1. Figure 170:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 171:  
  2. GLOBAL ELECTRIC CARS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 172:  
  2. GLOBAL ELECTRIC CARS MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
  1. Figure 173:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 174:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 175:  
  2. GLOBAL ELECTRIC CARS MARKET, BY UAE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 176:  
  2. GLOBAL ELECTRIC CARS MARKET, BY UAE, BY VALUE IN USD, 2016-2028
  1. Figure 177:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 178:  
  2. GLOBAL ELECTRIC CARS MARKET, BY REST-OF-MEA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 179:  
  2. GLOBAL ELECTRIC CARS MARKET, BY REST-OF-MEA, BY VALUE IN USD, 2016-2028
  1. Figure 180:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 181:  
  2. GLOBAL ELECTRIC CARS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 182:  
  2. GLOBAL ELECTRIC CARS MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
  1. Figure 183:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 184:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 185:  
  2. GLOBAL ELECTRIC CARS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 186:  
  2. GLOBAL ELECTRIC CARS MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
  1. Figure 187:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 188:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 189:  
  2. GLOBAL ELECTRIC CARS MARKET, BY CANADA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 190:  
  2. GLOBAL ELECTRIC CARS MARKET, BY CANADA, BY VALUE IN USD, 2016-2028
  1. Figure 191:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 192:  
  2. GLOBAL ELECTRIC CARS MARKET, BY MEXICO, BY VOLUME IN UNITS, 2016-2028
  1. Figure 193:  
  2. GLOBAL ELECTRIC CARS MARKET, BY MEXICO, BY VALUE IN USD, 2016-2028
  1. Figure 194:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 195:  
  2. GLOBAL ELECTRIC CARS MARKET, BY US, BY VOLUME IN UNITS, 2016-2028
  1. Figure 196:  
  2. GLOBAL ELECTRIC CARS MARKET, BY US, BY VALUE IN USD, 2016-2028
  1. Figure 197:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 198:  
  2. GLOBAL ELECTRIC CARS MARKET, BY REST-OF-NORTH AMERICA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 199:  
  2. GLOBAL ELECTRIC CARS MARKET, BY REST-OF-NORTH AMERICA, BY VALUE IN USD, 2016-2028
  1. Figure 200:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 201:  
  2. GLOBAL ELECTRIC CARS MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 202:  
  2. GLOBAL ELECTRIC CARS MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
  1. Figure 203:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 204:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 205:  
  2. GLOBAL ELECTRIC CARS MARKET, BY REST-OF-LATIN AMERICA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 206:  
  2. GLOBAL ELECTRIC CARS MARKET, BY REST-OF-LATIN AMERICA, BY VALUE IN USD, 2016-2028
  1. Figure 207:  
  2. GLOBAL ELECTRIC CARS MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
  1. Figure 208:  
  2. GLOBAL ELECTRIC CARS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
  1. Figure 209:  
  2. GLOBAL ELECTRIC CARS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
  1. Figure 210:  
  2. GLOBAL ELECTRIC CARS MARKET SHARE(%), BY MAJOR PLAYERS, 2021

Electric Cars Industry Segmentation

Passenger Cars are covered as segments by Body Type. BEV, FCEV, HEV, PHEV are covered as segments by Fuel Type. Africa, Asia-Pacific, Europe, Middle East, Miidle East, North America, South America are covered as segments by Region.
Body Type
Passenger Cars
Hatchback
Multi-purpose Vehicle
Sedan
Sports Utility Vehicle
Fuel Type
BEV
FCEV
HEV
PHEV
Region
Africa
South Africa
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
South Korea
Thailand
Rest-of-APAC
Europe
Austria
Belgium
Czech Republic
Denmark
Estonia
France
Germany
Ireland
Italy
Latvia
Lithuania
Norway
Poland
Russia
Spain
Sweden
UK
Rest-of-Europe
Middle East
UAE
Rest-of-MEA
Miidle East
North America
Canada
Mexico
US
Rest-of-North America
South America
Rest-of-Latin America
customize-icon Need A Different Region Or Segment?
Customize Now

Market Definition

  • Body Type - Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat.
  • Engine Type - Hybrid and electric vehicles are vehicles that run on batteries and use one or more electric motors for propulsion.
  • Fuel Type - Hybrid and electric vehicles include HEV, PHEV, BEV, and FCEV.
  • Sub Body Type - The sub-body type includes Hatchback, Sedan, SUV, and MPV.
  • Vehicle Type - Passenger vehicles which includes electric powered cars and vehicles, sports utility vehicles, multipurpose vehicles
bookmark Need More Details on Market Definition?
Ask a Question

Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
download-icon Get More Details On Research Methodology
Download Sample
close-icon
80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!

WHY BUY FROM US?
card-img
01. Crisp, insightful analysis
Our focus is NOT on word count. We present only the key trends impacting the market so you don’t waste time finding a needle in the haystack.
card-img
02. True Bottom-Up Approach
We study the industry, not just the market. Our bottom-up approach ensures we have a broad and deep understanding of the forces that shape the industry.
card-img
03. Exhaustive Data
Tracking a million data points on the vehicles industry. Our constant market tracking covers over 1 million+ data points spanning 45 countries and over 150 companies just for the vehicles industry.
card-img
04. Transparency
Know where your data comes from. Most market reports today hide the sources used behind the veil of a proprietary model. We proudly present them so you can trust our information.
card-img
05. Convenience
Tables belong in spreadsheets. Like you, we also believe that spreadsheets are better suited for data evaluation. We don't clutter our reports with data tables. We provide an excel document with each report that contains all the data used to analyze the market.

Electric Cars Market Research FAQs

The Global Electric Cars Market size is expected to reach USD 0.52 trillion in 2024 and grow at a CAGR of 16.59% to reach USD 1.12 trillion by 2029.

In 2024, the Global Electric Cars Market size is expected to reach USD 0.52 trillion.

BYD Motors Inc., General Motors Company, Groupe Renault, Tesla Inc. and Volkswagen AG are the major companies operating in the Global Electric Cars Market.

In the Global Electric Cars Market, the Sports Utility Vehicle segment accounts for the largest share by sub body type.

In 2024, Europe accounts for the largest share by region in the Global Electric Cars Market.

In 2023, the Global Electric Cars Market size was estimated at USD 432.79 billion. The report covers the Global Electric Cars Market historical market size for years: 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Electric Cars Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Electric Cars Industry Report

Statistics for the 2024 Electric Cars market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Electric Cars analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Electric Cars Market Report Snapshots

Electric Cars Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)