EV Market Size Will Grow 8,179,060 Units | Changing Market Opportunities with BMW Group and Daimler AG as Dominant Players, Among Others | More than 17,000 Technavio research reports

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Key Market Dynamics:

  • Market Driver: Rising demand for fuel-efficient and low-emission vehicles is a key driver driving the growth of the electric vehicle market. With rapidly fluctuating oil and gasoline prices, consumers are focusing on more fuel-efficient vehicles. The harmful effects of emissions from fossil fuel vehicles have alarmed people around the world and as a result, the demand for low emission vehicles has increased. Rising fuel prices have resulted in consumers shifting from conventional vehicles to electric vehicles.
  • Market Trend: Strict rules and regulations will be another important driver for the growth of the electric vehicle market. Emissions regulations are becoming more stringent, both at the municipal and national levels. Several rules and regulations have been promulgated by various countries to monitor vehicle emissions. On the other hand, some countries have adopted more advanced regulations based on recent regulatory revisions in the United States and Europe.

Learn more about additional key factors, trends and challenges available with Technavio. Read the sample report!

Key Revenue-Generating Highlights in the Market:

The Electric Vehicles market report is segmented by Type (BEV and PHEV) and Geography (APAC, Europe, North America, South Americaand MEA).

  • The growth in electric vehicle market share by BEV segment will be significant during the forecast period. Key advantages such as ease of manufacture, simplicity, lower maintenance cost and zero emissions will drive the growth of the BEV market segment.
  • APAC will be the top region with 45% of the market growth during the forecast period. Japan, South Korea (Republic of Korea), and China are the key markets for the automotive fuel cell market in APAC. Rising concerns over emissions affecting air quality and better safety standards set by regional governments will facilitate the growth of the electric vehicle market in APAC over the forecast period.

View sample report for additional information on the contribution of all segments and regional opportunities in the report.

Main companies mentioned with their offers

    • BAIC Motor Corp. ltd. : The company offers electric vehicle models such as X7, EU7 and EUS Plus.
    • BMW Group: The company offers iX3 plug-in hybrid cars and i3 and i8 plug-in hybrid sports cars.
    • Daimler AG: The company provides EQC, EQA, EQS, EQV and other passenger electric vehicles.
    • Ford Motor Co.: The company supplies the F-150, an advanced zero-emission truck.
    • General Motors Co.: The company manufactures zero-emission vehicles, long-range batteries and software for electric vehicles.

Few other companies covered in this report are:

    • Nissan Motor Co.Ltd.
    • Renault S.A.
    • Tesla Inc.
    • Toyota Motor Corp.
    • Volkswagen SA
  • To access more supplier profiles with their key offerings available with Technavio, Click here

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Scope of the electric vehicle market

Report cover


Page number


Year of reference


Forecast period


Growth momentum and CAGR

Slowing down to a CAGR of 27.49%

Market Growth 2021-2025

8179.06 th units

Market structure


Annual growth (%)


Regional analysis

APAC, Europe, North America, South America and MEA

Successful market contribution

APAC at 45%

Main consumer countries

China, USA, Norway, Japan and Germany

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

BAIC Motor Corp. Ltd., BMW Group, Daimler AG, Ford Motor Co., General Motors Co., Nissan Motor Co. Ltd., Renault SA, Tesla Inc., Toyota Motor Corp. and Volkswagen AG

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Main topics covered:


Market landscape

  • Market ecosystem
  • Value chain analysis

Market sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market Outlook: Predictions for 2020 – 2025

Five forces analysis

  • The bargaining power of buyers
  • Bargaining power of suppliers
  • The threat of new entrants
  • The threat of substitutes
  • Threat of rivalry
  • Market state

Market segmentation by type

  • Market segments
  • Comparison by type
  • BEV – Market size and forecast 2020-2025
  • PHEV – Market size and forecast 2020-2025
  • Market Opportunity by Type

Customer landscape

Geographic landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC – Market size and forecast 2020-2025
  • Europe – Market size and forecast 2020-2025
  • North America – Market size and forecast 2020-2025
  • South America – Market size and forecast 2020-2025
  • MEA – Market size and forecast 2020-2025
  • Main leading countries
  • Market Opportunity by Geography
  • Market factors
  • Market challenges
  • Market trends

Supplier Landscape

  • Insight
  • Landscape disturbance

Vendor analysis

  • Suppliers Covered
  • Positioning on the supplier market
  • BAIC Motor Corp. ltd.
  • BMW Group
  • Daimler S.A.
  • Ford Motor Co.
  • General Motors Co.
  • Nissan Motor Co.Ltd.
  • Renault S.A.
  • Tesla Inc.
  • Toyota Motor Corp.
  • Volkswagen SA


  • Report scope
  • Currency conversion rates for the US dollar
  • Research methodology
  • Abreviations list

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