Electric Vehicle Current Market Scenario

Governments are increasingly focusing on developing new policy framework and updating existing policies related to the promotion of electric vehicle and supporting infrastructure, to address fuel-economy standards, EV price points, charging infrastructure and other measures including zero-emission vehicle (ZEV) mandates.

Growing number of governments setting objectives for EV deployment is propelling the growth of global electric vehicle market, which is clear signal for manufacturers and other stakeholders of the electric vehicle ecosystem to expand their production and investment capacity to establish their presence in the emerging electric vehicle market.

Electric Vehicle Type:

  • Battery Electric Vehicle (BEV)
  • Plug-in Hybrid Electric Vehicle (PHEV)
  • Hybrid Electric Vehicle (HEC)
  • Fuel-Cell Electric Vehicle (FCEV)

Presently the market is highly focused on deployment of Battery Electric Vehicle (BEV), and plug-in Hybrid Electric Vehicle (PHEV). As of 2017, there where total 3 million electric passenger cars were registered worldwide, among that 62% of electric cars was registered are Battery Electric Vehicle (BEV) and 38% of electric cars was registered are Hybrid Electric Vehicle (PHEV).

Electric car stock (BEV and PHEV) by country, 2005-17 (thousands)

Objectives for EV deployment by top Countries:

China 5 million EVs by 2020, including 4.6 million passenger light-duty vehicles (PLDVs), 0.2 million buses and 0.2 million trucks

European Union – Post 2020 proposed CO2 targets for cars and vans include benchmarks: 15% EV sales by 2025 and 30% by 2030

India – 30% electric car sales by 2030, and 100% BEV sales for urban buses by 2030.

Japan – 20 to 30% electric car sales by 2030.

United States – deployment of 3 300 000 EVs in eight states combined by 2025

Netherlands – 10% electric car market share by 2020, 100% EV sales in PLDVs by 2030, and 100% electric public bus sales by 2025 and 100% electric public bus stock by 2030.

Norway100% EV sales in PLDVs, LCVs and urban buses by 2025, 75% EV sales in long-distance buses and 50% in trucks by 2030.

 Electric traction motor is key component of electric vehicle. Infoholic research is currently working on electric vehicle motor market – the study details the market size and analysis of types of motors used in various types of electric vehicles such as Battery Electric Vehicle (BEV), and plug-in Hybrid Electric Vehicle (PHEV).

Delsingh Bright
 Market Research Analyst
Infoholic Research