Global Electric Mobility Market to Surge to $372.38 Billion by 2030: Driven by Eco-Friendly Demands and Improved Battery Technology - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Electric Mobility Market Size, Share, and Growth Analysis by Product, Battery, Voltage, and Region - Industry Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.

The global electric mobility Market size was valued at USD 95.31 billion in 2021 and is poised to grow from USD 109.23 billion in 2022 to USD 372.38 billion by 2030, growing at a CAGR of 14.6% in the forecast period (2023-2030).

The global electric mobility market is growing rapidly due to increased demand for eco-friendly transportation options and government incentives for electric vehicle adoption. Electric cars, buses, and bikes are gaining popularity due to their low emissions and reduced reliance on fossil fuels. The market is expected to continue to expand as battery technology improves and charging infrastructure becomes more widespread.

Segments covered in this report

Electric Mobility Market is segmented on the basis of product, battery, voltage, and region. Based on product, the Electric Mobility Market is segmented into electric scooters, electric bicycles, electric wheelchairs, electric motorcycles, electric cars, and electric skateboards.

Based on battery, the Electric Mobility Market is segmented into sealed lead acid, NiMH, and Li-ion. Based on the voltage, the Electric Mobility Market is segmented into less than 24V, 24V, 36V, 48V, and greater than 48V. Based on region, the global electric mobility market is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA.

Driver

The automotive industry's greenhouse gas and carbon footprint has been consistently increasing, which is expected to drive the demand for electric mobility. Additionally, the lower operating and maintenance costs of electric vehicles, along with their ability to reduce harmful emissions, are also contributing to the market's growth. To further fuel this expansion, an increase in player penetration is expected as more companies focus on the electric-based automotive sector in the upcoming years.

Restrain

In numerous countries worldwide, the availability of electric vehicle charging stations is insufficient. This deficiency negatively impacts the electric vehicle market by reducing the possibility of public charging, resulting in decreased demand. Despite the efforts of many governments to develop the infrastructure, only a few states have established an adequate number of charging stations.

The absence of a comprehensive EV charging network across most countries hinders the growth of the electric vehicle market. However, when a robust global EV charging network is established, the demand for electric vehicles is expected to rise. Currently, most countries have not achieved such an extensive charging network within their territories.

Trend

The rapid growth of the global electric mobility market is being driven by the worsening environmental challenges such as carbon emissions and greenhouse gas emissions. Both the transportation and automotive industries are expanding worldwide in response to these challenges.

The demand for electric mobility is expected to increase due to the harmful emissions released by traditional fuel-based vehicles, which contribute to high levels of air pollution. This has previously hindered the growth of the global vehicle industry.

Companies Mentioned

• Tesla Inc. (U.S.)
• Nissan Motor Corporation (Japan)
• BMW MOTORRAD (Germany)
• General Motors Company (U.S.)
• Honda Motor Company, Ltd. (Japan)
• BYD Company Ltd. (China)
• Accell Group (Netherlands)
• Volkswagen AG (Germany)
• Zero Motorcycles, Inc. (U.S.)
• Ford Motor Company (U.S.)

For more information about this report visit https://www.researchandmarkets.com/r/b8jqhw

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.