DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "EVs, EV Component & EV Infrastructure Market by Govt. Regulation, Vehicle Type, Components, Propulsion, Recharging Station, and Region - Global Forecast to 2021" report to their offering.
EV Sales is Estimated to Grow at a CAGR of 20.68% to Reach 5.76 Million Unit by 2021
Availability of government support such as subsidies and tax rebates, increasing consumer awareness, increasing vehicle range and low charging time has driven the demand for EVs globally
Government subsidies and tax rebates, variety of EV models, increasing vehicle range and improving charging infrastructure are the factors responsible for the growth of in sales of EVs.
Electric passenger cars are the fastest growing segment in the EV market as they are showing a significant growth as compared to the commercial vehicle segment. Availability of broad range of models, upgraded technology, increasing customer awareness and availability of subsidies and tax rebates are the major factors driving the market.
The Asia-Pacific is the largest market for the EVs followed by North America. Existing grants and subsides, tax rebates, and availability of charging infrastructure are contributing to the growth in EV sales in this region.
- Government Favorable Policies and Existing Subsidies
- Increasing Product Portfolio By Oems
- Increased Vehicle Range Per Charge
- Lack of Charging Infrastructure
- Short Lifespan of Batteries
- Increasing Penetration of EVs in Developing Countries
- Limited Stock of Crude Oil
- High Cost of EVs in Comparison With Ice Engine
- Limited Battery Power
- Automotive Energy Supply Corporation
- BYD Company Ltd.
- Car Charging Group
- Charge Point, Inc.
- Delphi Automotive
- LG Chem
- Nissan Motor Corporation
- Panasonic Corporation
- Samsung SDI
- Tesla Motors Inc.
- Volkswagen AG
For more information about this report visit http://www.researchandmarkets.com/research/wm2qfk/evs_ev_component