COVID-19 Impact on EV and EV Infrastructure Market by Vehicle, Propulsion, Charging Station and Region - Global Forecast to 2021 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "COVID-19 Impact on EV and EV Infrastructure Market by Vehicle (Passenger Cars and Commercial Vehicles), Propulsion (BEV, PHEV and FCEV), Charging Station (Normal and Super) and Region - Global Forecast to 2021" report has been added to ResearchAndMarkets.com's offering.

Post COVID-19, the global electric vehicle and electric vehicle infrastructure market is projected to reach 4.18 million units by 2021 from an estimated 3.42 million units in 2020, at a CAGR of 22.1%. The projection for 2021 is expected to be down by 34% as compared to pre-COVID estimation.

The electric vehicle market has witnessed rapid evolution with ongoing developments in the automotive sector. Favorable government policies & support in terms of subsidies & grants, tax rebates, and other non-financial benefits in the form of carpool lane access and new car registration (specifically in China where ICE vehicle registration are banned in some urban areas) are the primary factors driving the growth of the market.

Increasing adoption of electric buses likely to propel the growth of commercial vehicles during the forecast period.

Commercial vehicles are expected to be the fastest-growing segment within the market. Increasing adoption of electric buses, particularly in China and India, has contributed to the growth of the electric commercial vehicle segment. Several countries are expected to replace their existing fuel-based bus fleet with electric buses, which will, in turn, drive the growth of commercial electric vehicles during the forecast period. Additionally, the growth of e-commerce, logistics, and shared mobility will drive the growth of commercial electric vehicles during the forecast period.

Charging station market for electric vehicles to grow at the highest CAGR between 2020 and 2021.

The COVID-19 outbreak and the draconian measures deployed in China resulted in extensive disruptions to economic activities, which delivered a hard blow to the economy. Thus, most governments from affected regions have resorted to infrastructure rehabilitation as an economic stimulus method. The electric vehicle charging infrastructure sector has had a minimal impact from COVID-19. For instance, the Chinese government has announced stimulation packages toward boosting the development of a network of electric vehicle charging stations. Increased focus on EV charging infrastructure means the sector could see exponential growth in what is already a hot market.

The Asia Pacific market is expected to register the fastest growth during the forecast period.

The Asia Pacific market is expected to witness the fastest growth, followed by Europe and North America. The automotive industry in countries such as China, Japan, and South Korea is inclined toward innovation, technology, and the development of advanced electric vehicles. The increasing demand for reducing carbon emission and the development of more sophisticated and fast charging stations are expected to propel the growth of electric vehicles. BYD, BAIC, Chery, and SAIC, among others, are some of the key players in the Asia Pacific electric vehicle market.

Key Topics Covered:

1 Introduction

2 Market Overview

2.1 Introduction

2.2 Electric Vehicle - An Overall Ecosystem

2.3 Electric Vehicle Ecosystem and Indication of Impact of Covid-19 on Ecosystem

2.2 Companies from Electric Vehicle Ecosystem & Impact Analysis of Covid-19 on Them

2.2.1 Covid-19: Company Specific Developments (Product/Use Cases, Shift in Short/Long Term Strategies, Geo-Specific, Partners)

2.3 Macro-Economic Indicators

2.3.1 Short Term Drivers

2.3.2 Short Term Restraints

3 Impact of Covid-19 on Electric Vehicle Ecosystem

3.1 Introduction

3.2 Impact of Covid-19 on Electric Vehicle Ecosystem

3.2.1 Realistic Scenario: Forecast 2020-2021

3.2.2 Pessimistic Scenario: Forecast 2020-2021

3.2.3 Optimistic Scenario: Forecast 2020-2021

3.3 Impact of Covid-19 on Global Electric Passenger Car Market

3.3.1 Electric Passenger Car: Forecast 2020-2021 With Pessimistic, Realistic and Optimistic Scenarios

3.3.2 Presence of Industry Leaders Like Tesla and BYD to Drive the Segment

3.4 Impact of Covid-19 on Global Electric Commercial Vehicle Market

3.4.1 Electric Commercial Vehicle: Forecast 2020-2021 With Pessimistic, Realistic and Optimistic Scenarios

3.4.1.1 Nationwide Lockdown Across the World Would Lead to Sluggish Growth of the Segment

3.4.2 Electric Bus: Forecast 2020-2021 With Pessimistic, Realistic and Optimistic Scenarios

3.4.3 Electric Truck: Forecast 2020-2021 With Pessimistic, Realistic and Optimistic Scenarios

3.5 Electric Vehicle Charging Station

3.5.1 Government Efforts to Recover from Covid-19 by Stimulating Charging Infrastructure to Drive the Segment

3.6 Biggest Gainers and Losers - Electric Vehicle Ecosystem Market

4 Impact of Covid-19 on Electric Vehicle Market in Key Countries

4.1 Introduction

4.2 China

4.3 US

4.4 Germany

4.5 France

4.6 Norway

4.7 Spain

5 Competitive Landscape and Covid-19

5.1 Introduction

5.2 Long-Term Impact on Electric Vehicle Companies & Their Ecosystem

5.2.1 Covid-19: Current Status and Upcoming Challenges

5.2.2 Covid-19: Long Term Impact

5.3 Right to Win During Covid-19 Period

5.3.1 Strategic Alliances During Covid-19

5.3.2 a New Line of Business Emerge: EV Charging Equipment and Services

5.3.3 Strategic Investment During Covid-19

5.3.4 Winning Strategies to Gain Market Momentum

6 Consumer Trends Outlook

6.1 Introduction

6.2 Disconnect from the Consumers

6.2.1 Automakers Disconnected from the Market

6.2.2 Difficult to Sustain With Limited Capital Liquidity During Covid-19

6.2.3 Consumer Trends - Mired EVAdoption

6.3 Connect With the Consumers

6.2.1 Chinese Automakers Are Looking for Novel Ways to Reach Customers

Companies Mentioned

• BYD
• Tesla
  

For more information about this report visit https://www.researchandmarkets.com/r/27t67y