E-Mobility Market by Product Type (Electric Skateboard, Electric Car, Electric Motorcycle, Electric Wheelchair, and Electric Scooter), Battery Type (NiMH, Sealed Lead Acid, and Li-ion), and Voltage Type (Less than 24V, 24V, 36V, 48V, and Greater than 48V) – Global Opportunity Analysis and Industry Forecast 2022–2030
New York, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "E-Mobility Market by Product Type, Battery Type, and Voltage Type – Global Opportunity Analysis and Industry Forecast 2022–2030" - https://www.reportlinker.com/p06371370/?utm_source=GNW
E-Mobility Market size was valued at USD 279.51 billion in 2021 and is projected to reach USD 2305.33 billion by 2030 at a CAGR of 26.9% during the forecast period from 2022 to 2030.
The demand for fuel-efficient and low-emission vehicles has increased across the world owing to the rising concerns of continuously increasing greenhouse gas and carbon footprint from the automotive and transportation sector, thereby promoting the growth of the e-mobility industry. Thus, the government imposes strict emission standards to reduce carbon emissions and combat climate change further increasing the demand for electric vehicles (EVs), which in turn boost the automotive e-mobility market growth.
However, the lack of standardization of EV charging infrastructure facilities associated with the development of EVs is due to the increased installation cost of charging stations; this leads to lower public adoption of EVs, which in turn hampers market growth.
On the contrary, the demand for electricity is expected to surge as a result of the increase in EVs. Manufacturers of EVs around the world are working towards a sustainable increase in electric production, using hydroelectric dams and solar farms. The solar-powered devices are fast, inexpensive substitutes for charging infrastructure and reduce the carbon emissions of fossil fuel electricity, creating ample growth opportunities in e-mobility industry in the near future.
The global e-mobility market is segmented on the basis of product type, battery type, voltage type, and geography.
- Based on product type, the market is classified into electric skateboard, electric car, electric motorcycle, electric wheelchair, and electric scooter.
- Based on battery type, the market is segmented into NiMH, sealed lead acid, and Li-ion.
- Based on voltage type, the market is categorized into less than 24V, 24V, 36V, 48V, and greater than 48V.
- Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and RoW.
The Asia-Pacific market is projected to hold the dominant share by 2030.
Asia-Pacific dominates the global e-mobility industry and is potently expected to remain dominant in the market throughout the forecast period. This is attributed to the rapid adoption of EVs as well as growing government initiatives and subsidies while purchasing EVs in emerging economies such as India, Japan, and China.
Also, growing awareness initiatives and rising concerns regarding the emissions from conventional vehicles fuels the demand for EVs, which in turn boosts the growth of the automotive e-mobility market in this region.
Key Market Players
Some of the emerging and efficient key players in the e-mobility market trends include:
• Tesla Inc.
• Nissan Motor Corporation
• BMW Group
• General Motors Company
• Honda Motor Company, Ltd.
• Accell Group
• Volkswagen AG
• Ford Motor Company
• Hyundai Motor Company
Volkswagen launched a fully working prototype for an automated flying car, an EV that is described as a "state-of-the-art passenger drone prototype". The vehicle is Volkswagen’s first venture into aircraft design.
Tesla announced strategic partnership with General Motors to expand EV infrastructure. This partnership aimed to meet the demand for EVs and support the growing network with the required infrastructure.
Hyundai Motor Co launched its first electric sedan, Ioniq 6; it has a driving range of about 610 kilometers (380 miles), around 30% more than the Ioniq 5 crossover.
Toyota planned to launch its first full-EV in May, which starts from USD 42,000 and offers superior power efficiency performance and sufficient cruising range for practical driving. A total of 5,000 units for production and sales are planned for the first year.
Ford announced to expand EV partnership with Volkswagen for supplying the EV architecture for a second Ford model for the European market. Ford also states to produce 1.2 million EVs using Volkswagen’s platform over six years, starting from 2023.
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