Global Electric Vehicle (EV) market size is expected to reach USD 917.70 Billion in 2028 and register a revenue CAGR of 20.6% over the forecast period, according to a latest report by Reports and Data. Favorable government policies and subsidies for purchase of electric vehicles and rising focus on reduction of emission levels and air pollution globally are key factors expected to drive market revenue growth.
Electric Vehicles (EVs) are propelled by a battery-powered electric motor rather than an internal combustion engine. Electric vehicles are an ideal mobility solution, with very low vehicle emission levels and repair costs, can be charged at home, and be easily ridden or driven. As EVs run on electricity, no harmful fumes are emitted. In addition, there are no liquid fuel components such as fuel line, fuel pump, or fuel tank present in these vehicles. Rising levels of carbon emissions due to increasing number of fossil fuel-powered vehicles and government initiatives encouraging adoption of EVs is expected to drive demand for advanced EVs going ahead.
Get Free sample of the Report https://www.reportsanddata.com/sample-enquiry-form/4548
Major environmental impact caused by fossil fuel vehicles and volatility in petroleum prices have opened doors to alternative fuel vehicles in the automotive market. Consumers are more willing to use battery-powered or hybrid vehicles as a result of rising environmental concerns and favorable schemes, which are expected to positively impact market revenue growth. As traditional fuel vehicles are primary contributors to air pollution levels, various governing bodies globally have imposed stringent emission regulations on vehicle manufacturers to reduce Greenhouse Gas (GHG) emissions. Policies formulated by government agencies to support manufacturing of electric vehicles and develop EV infrastructure as well as electrification programs, and rapid urbanization are some key factors expected to drive market revenue growth.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/electric-vehicle-ev-market
Some Key Highlights From the Report
For the purpose of this report, Reports and Data has segmented global Electric Vehicle (EV) market based on vehicle type, battery type, propulsion, and region:
Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/4548
Vehicle Type Outlook (Revenue, USD Billion; 2018-2028)
Battery Type Outlook (Revenue, USD Billion; 2018-2028)
Propulsion Outlook (Revenue, USD Billion; 2018-2028)
Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/4548
Regional Outlook (Revenue, USD Billion; 2018-2028)
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Diesel-Electric Hybrid Underground Trucks Market
Diesel-Mechanical Underground Trucks Market