Global Electric Mobility Market size was valued at USD 95.31 billion in 2019 and is poised to grow from USD 109.23 billion in 2023 to USD 372.38 billion by 2031, growing at a CAGR of 14.6% in the forecast period (2024-2031).
The Research report on Electric Mobility Market presents a complete judgment of the market through strategic insights on future trends, growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing analysis. It also provides and a lot of business matrices including Porters Five Forces Analysis, PESTLE Analysis, Value Chain Analysis, 4 Ps' Analysis, Market Attractiveness Analysis, BPS Analysis, Ecosystem Analysis.
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Segmental Analysis
- ProductElectric scooter, electric bicycle, electric wheelchair, electric motorcycle, electric skateboard, electric car
- BatterySealed lead acid, NiMH, Li-ion
- VoltageLess than 24V, 24V, 36V, 48V, greater than 48V
Market Dynamics
Electric Mobility Market Driver
- Rising Level of Greenhouse Gases to Boost Market Growth
The demand for electric mobility is expected to expand as a result of the consistent increase in the greenhouse gas and carbon footprint of the automotive and vehicle industries. The greater focus on electric vehicles' lower operating and maintenance costs and their capacity to reduce hazardous emissions is also intended to restrain the growth of the market for electric mobility. Further prospects for the expansion of the electric mobility market will be presented in the upcoming years by the increase in player penetration that is focusing on growing the electric-based automotive sector.
- Reduced EV Battery Costs
Over the past ten years, the cost of EV batteries has decreased as a result of technological advancements and the mass production of EV batteries in huge quantities. As EV batteries are the most expensive part of an electric car, it has led to a decrease in the price of electric vehicles. An EV battery cost roughly USD 1,100 per kWh in 2010. However, by 2020, their cost per kWh had decreased to about USD 137, compared to USD 100 in China. It is a result of these batteries' lower manufacturing costs, lower cathode material costs, higher production volumes, etc.
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By Regions and Countries
o North America
o Europe
o Asia-Pacific
o South America
o Middle East & Africa
Following are the players analyzed in the report
• Tesla Inc.Nissan Motor CorporationBMW MOTORRADGeneral Motors Company BYD Auto Co. Ltd.Daimler AGFord Motor CompanyVolkswagen AGToyota Motor CorporationHonda Motor Co., Ltd.Hyundai Motor CompanyKia CorporationRenault SAMahindra & Mahindra Ltd.Tata Motors LimitedBajaj Auto LimitedHero Electric Vehicles Pvt. Ltd.Piaggio & C. SpAZero Motorcycles Inc.Brammo Inc.• • • • • • • • • • • • • • • • • • •
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The research provides answers to the following key questions:
• What is the estimated growth rate of the market for the forecast period 2024-2031? What will be the market size during the estimated period?
• What are the key driving forces responsible for shaping the fate of the Electric Mobility Market during the forecast period?
• Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Electric Mobility Market?
• What are the prominent market trends influencing the development of the Electric Mobility Market across different regions?
• What are the major threats and challenges likely to act as a barrier in the growth of the Electric Mobility Market?
• What are the major opportunities the market leaders can rely on to gain success and profitability?