Global Electric Vehicle Market - Opportunities & Forecast 2016-2024 Global electric vehicle market was estimated to be

Global electric vehicle market was
estimated to be USD 103.2 billion in 2016 -
GMI Research
Posted by Sarah Nash March 14, 2018 in Automotive, Transportation & Logistics
According to GMI Research report, “Global Electric Vehicle Market By
Component and By Geography – Opportunities & Forecast 2016–2024”, the global
electric vehicle market was estimated to be USD 103.2 billion in 2016 and is
projected to reach USD 480.1 billion by the end of 2024, exhibiting a CAGR of
21.2% during the forecast period. The major reasons stimulating the market
growth are favorable 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.