Global Electric Vehicle Market (2016-2024)-GMI Research Global Electric Vehicle Market (2016-2024)-GMI Res

Global Electric Vehicle Market (2016-2024)-
GMI Research
Posted by Sarah Nash September 17, 2018 in Automotive, Transportation & Logistics
Global Electric Vehicle Market by Components (Battery Pack, Chassis, Vehicle
Body, Drivetrain, Equipment and Others) and by Geography – Opportunities &
Forecast 2016-2024
The global electric vehicle components market was estimated to be USD 124.9
billion in 2017 and is projected to reach USD 583.5 billion by the end of 2025,
exhibiting a CAGR of 21.3% during the forecast period.
Figure 1: Global Electric Vehicles Market Revenue, 2018–2025 (USD Billion)
Source: GMI Research
Factors such as favourable government policies and regulations, rise in demand
for environment friendly vehicles by the consumers and increased focus of OEM’s
towards the development of technologically advanced components are likely to
positively impact the market in the coming years.