Electric Vehicle Market Share

  • Report ID: 4476
  • Published Date: Oct 11, 2024
  • Report Format: PDF, PPT

Electric Vehicle Market Share

Regionally, the global EV market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2037, owing to the large production of electric vehicles in the region. China is the top producer of electric vehicles as per International Energy Agency. The electric car registration rose from year 2019 with almost 1000 thousand units to year 2020 with around 1300 thousand units. Further, the large population in the region is expected to increase the demand of electric vehicle in the assessment period. The population in East Asia and Pacific as per World Bank was 2.37 billion in 2021. Additionally, technological advancements, growth in Gross Domestic Level (GDP) along with rise in disposable income are another factors that are anticipated to fuel the market size.

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Author Credits:  Saima Khursheed


  • Report ID: 4476
  • Published Date: Oct 11, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of electric vehicle is estimated at USD 283.31 billion.

The electric vehicle market size was over USD 243.9 billion in 2024 and is projected to cross USD 2.68 trillion by the end of 2037, witnessing more than 20.2% CAGR during the forecast period i.e., between 2025-2037. The rising demand of electric vehicles by the burgeoning population and increased concerns regarding environmental protection will impel the market growth.

Asia Pacific industry is poised to dominate majority revenue share by 2037, owing to large production of electric vehicles in the region.

The major players in the market include Toyota Motor Corporation, BYD Motors Inc., Mercedes-Benz Group AG, Ford Motor Company, General Motors, Nissan Group, Tesla, Volkswagen AG, Renault Group, Hino Motors, Ltd.
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