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Electric Vehicle Market Size to Grow by 8179.06 thousand units | Evolving Market Opportunities with BMW Group and Daimler AG as the Dominant Players among others | 17,000+ Technavio Research Reports

NEW YORK, June 15, 2022 -- The "Electric Vehicle Market by Type and Geography - Forecast and Analysis 2021-2025" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.

The potential growth difference for the electric vehicle market between 2020 and 2025 is 8179.06  thousand units, as per the latest market analysis report by Technavio. The report predicts the market to witness a decelerating growth momentum at a CAGR of 27.49% during the forecast period. 

  To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to analyst.

Key Market Dynamics:

  • Market Driver: Growing demand for fuel-efficient and low-emission vehicles is a key driver boosting the electric vehicle market growth. With the rapid fluctuation in oil and gas prices, consumers are focusing on more fuel-efficient vehicles. The harmful effects of emissions by fossil fuel-operated vehicles have alarmed people around the world, and hence, there has been a growth in demand for low-emission vehicles. The increase in fuel prices has resulted in shifting consumers from conventional vehicles to EVs.
  • Market Trend: Stringent rules and regulations will be another important driver augmenting the electric vehicle market growth. Emission regulations are getting stringent, both at the city level and the national level. Several rules and regulations have been enacted by various countries to monitor emissions from vehicles. On the other hand, some countries have adopted more advanced regulations based on the recent revisions in regulations in the US and Europe.

To learn about additional key drivers, trends, and challenges available with TechnavioRead Sample Report!

Key Market Revenue-generating Highlights:

The electric vehicle market report is segmented by Type (BEV and PHEV) and Geography (APAC, Europe, North America, South America, and MEA). 

  • The electric vehicle market share growth by the BEV segment will be significant during the forecast period. Key benefits such as ease of manufacturing, simplicity, lower maintenance cost and zero emissions will drive the BEV market segment growth. 
  • APAC will be the leading region with 45% of the market's growth during the forecast period. Japan, South Korea (Republic of Korea), and China are the key markets for fuel cells market for the automotive industry in APAC. The growing concerns regarding emissions affecting air quality and better safety standards set by regional governments will facilitate the electric vehicle market growth in APAC over the forecast period. 

View sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.

Top Companies Mentioned with their Offerings

    • BAIC Motor Corp. Ltd.: The company offers electric vehicle models such as X7, EU7 and EUS Plus.
    • BMW Group: The company offers plug in hybrid car iX3 and plug in hybrid sports cars i3 and i8.
    • Daimler AG: The company provides EQC, EQA, EQS, EQV and other passenger electric vehicles.
    • Ford Motor Co.: The company provides F-150, an advanced zero emission truck.
    • General Motors Co.: The company manufactures zero-emission vehicles, long range batteries and software for electric vehicles.

Few other companies covered in this report are:

    • Nissan Motor Co. Ltd.
    • Renault SA
    • Tesla Inc.
    • Toyota Motor Corp.
    • Volkswagen AG
  • To gain access to more vendor profiles with their key offerings available with Technavio, Click Here

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Electric Vehicle Market Scope

Report Coverage


Page number


Base year


Forecast period


Growth momentum & CAGR

Decelerate at a CAGR of 27.49%

Market growth 2021-2025

8179.06 th units

Market structure


YoY growth (%)


Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 45%

Key consumer countries

China, US, Norway, Japan, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

BAIC Motor Corp. Ltd., BMW Group, Daimler AG, Ford Motor Co., General Motors Co., Nissan Motor Co. Ltd., Renault SA, Tesla Inc., Toyota Motor Corp., and Volkswagen AG

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Type

  • Market segments
  • Comparison by Type
  • BEV - Market size and forecast 2020-2025
  • PHEV - Market size and forecast 2020-2025
  • Market opportunity by Type

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • North America - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • BAIC Motor Corp. Ltd.
  • BMW Group
  • Daimler AG
  • Ford Motor Co.
  • General Motors Co.
  • Nissan Motor Co. Ltd.
  • Renault SA
  • Tesla Inc.
  • Toyota Motor Corp.
  • Volkswagen AG


  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email:[email protected]

SOURCE Technavio