Automotive and Transportation Electric Car Market Size and Demand Analysis | Page 2

Electric Car Market
Global electric car market is projected to attain a size of 52,72,312 units by 2023, according to P&S Intelligence.
The government financial incentives such as subsidies and tax rebates on the purchase of electric cars and non-
financial support, such as access to high-occupancy vehicle lanes and preferential parking for electric cars, are
the major drivers for the growth of electric car market.
Insights on market segments
On the basis of segment, the market is categorised into low, economy, medium, and premium segment cars.
Economy segment car has been experiencing higher sales globally. Economy-segment EVs are estimated to
account for the largest share, of more than 30%, in the electric car market in 2017, followed by low-segment
cars. However, the volume sales of medium segment car are expected to advance at a higher growth rate during
the forecast period. Economy car segment has higher preference in key markets, such as China, owing to its low
cost.
Browse report overview with 88 tables and 62 figures spread through 161 pages and detailed TOC on "Electric
Car Market by Technology (BEV, PHEV), by Segment (Economy, Low, Medium, Premium), by Geography (U.S.,
Canada, China, Japan, Netherlands, Norway, U.K., Germany, France) – Global Market Size, Share, Development,
Growth, and Demand Forecast, 2013–2023" at: https://www.psmarketresearch.com/market-analysis/electric-
car-market
P&S Intelligence