Electric Mobility Market Share

APAC Market Forecasts

The electric mobility market in the Asia Pacific region is set to hold the largest share of 33% by the end of 2037. The growth of the market can be attributed majorly to the large population in the region, the growing production of electric vehicles with the rising concern for global warming. Also, pollution has encouraged governments to promote the adoption of electric vehicles. According to the report of the World Bank in 2021, the population of East Asia and the Pacific was 2.37 billion, and as per International Energy Agency, China is the top producer of electric vehicles. In addition to this, the proliferating adoption of electric bikes in some countries such as China, and Japan, and so on is also projected to boost market growth further over the forecast period in the region.

Europe Market Statistics

In Europe, the market is expected to grow substantially during the assessment time period. The growth of this market can be primarily driven by growing concerns regarding pollution generated by vehicles and government support for the decarbonization of transportation. For instance, the European Commission signed a contract in October 2022 guaranteeing that all newly registered cars and vans in Europe will be emission-free by 2037.