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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Electric Mobility Market Outlook
The global electric mobility market reached USD 259.20 billion in 2023 and is expected to grow at a CAGR of 20% during the forecast period of 2024-2032 to attain USD 1,337.72 billion by 2032.
| Global Electric Mobility Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 259.20 |
| Market Size 2032 | USD Billion | 1,337.72 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 20.0% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 25.0% |
| CAGR 2024-2032 - Market by Country | India | 26.3% |
| CAGR 2024-2032 - Market by Country | Canada | 23.4% |
| CAGR 2024-2032 - Market by Type | Battery Operated Electric Vehicle | 22.4% |
| CAGR 2024-2032 - Market by Vehicle Type | Passenger Electric Vehicle | 22.8% |
Technological and social change is taking place in the automotive industry. This is driven primarily by the increasing awareness of the lower operating and maintenance costs of EVs, coupled with their ability to reduce harmful emissions contributing to the global warming. Over the coming years, these favourable trends are likely to work well for the EVs market, thus, driving the electric mobility market growth.
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Market Segmentation
Electric mobility refers to all vehicles powered by an electric motor or those mainly driven by the power grid. Electric mobility includes all-electric vehicles, including electric vehicles operated by batteries, hybrid electric vehicles plug-in, and hybrid electric vehicles. Electric mobility is primarily a vehicle with low or zero emissions, which contributes significantly to a greener world by reducing carbon emissions.
The electric mobility market can be broadly categorised based on its types, vehicle types, and components.
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Based on its types, the electric mobility market can be segmented into:
- Battery Operated Electric Vehicle
- Plug-In Hybrid Electric Vehicle
- Hybrid Electric Vehicle
On the basis of vehicle types, the industry can be broadly categorised into:
- Passenger Electric Vehicle
- Commercial Electric Vehicle
Based on the components, the industry is divided into:
- Electric Motor
- Battery
- Others
| CAGR 2024-2032 - Market by | Country |
| India | 26.3% |
| Canada | 23.4% |
| China | 22.0% |
| USA | 20.4% |
| Australia | 17.0% |
| Japan | 14.9% |
| UK | XX% |
| Germany | XX% |
| France | XX% |
| Italy | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
The EMR report looks into the regional markets of electric mobility like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
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Market Analysis
Concerns about the ever-increasing greenhouse gas and carbon footprint of the automobile and transportation industries are urging regulatory bodies at the global and state level to enact policies that promote the adoption of energy-efficient vehicles. Also, the organic growth of mobility-as-a-service (MaaS) and the steadily declining costs of high-capacity Li-Ion batteries, which in turn reduces total vehicle costs, are driving the increased electric vehicle (EV) adoption. These factors are expected to drive the growth of the electric mobility market.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global electric mobility market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Nissan Motor Co., Ltd
- Tesla, Inc. (NASDAQ: TSLA)
- Toyota Motor Corporation
- Groupe Renault
- General Motors
- Ford Motor Company
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Vehicle Type |
|
| Breakup by Components |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global electric mobility market attained a value of nearly USD 259.20 billion.
The market is projected to grow at a CAGR of 20% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 1,337.72 billion by 2032.
The major drivers expected to aid market growth are the growing automotive industry, rising disposable incomes, increasing environmental concern, stringent regulatory policies, and increasing technological advancements.
The growing adoption of electric vehicles to reduce carbon footprint and increasing popularity of mobility-as-a-service (MaaS) are the key trends guiding the growth of the market.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Battery operated electric vehicle, plug-in hybrid electric vehicle, and hybrid electric vehicles are the leading electric mobility types in the market.
The significant vehicle types of electric mobility in the market include passenger electric vehicle and commercial electric vehicles.
Electric motor, and battery, among others, are the major components of the product in the market.
The major players in the market are Nissan Motor Co., Ltd, Tesla, Inc., Toyota Motor Corporation, Groupe Renault, General Motors, and Ford Motor Company, among others.
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