Global electric mobility market

Global Electric Mobility Market Size, Share, Growth Analysis, By Product(Electric scooter, electric bicycle), By Battery(Sealed lead acid, NiMH), By Voltage(Less than 24V, 24V) - Industry Forecast 2024-2031

Report ID: SQSG45I2033 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 95 | Figures: 76

Global Electric Mobility Market Regional Insights

Due to the adoption of electric vehicles, notably electric scooters, and electric bikes, in developing nations like India and China, the Asia-Pacific region has the largest market share (22.8%) and CAGR (53.89%) throughout the course of the forecast. Additionally, the rising cost of fuel and growing public concern over rising pollution will foster additional market expansion. China and Japan are among the top producers and distributors of electric vehicles in Asia. Furthermore, given that China accounts for the majority of EV demand, the country is anticipated to dominate the regional market throughout the projection period.

The Pan-European battery charging network for BEVs is estimated to hasten the adoption of BEVs in European nations, leading to a CAGR of 21.8 percent for the European electric mobility market over the projection period.

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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 global electric mobility market is relatively fragmented, with a high level of competition. Few large players, Vmoto Limited ABN, Tesla, Terra Motors, Continental AG, ALTA MOTORS, Accell Group, Nissan Motors Corporation, Zero Motorcycles, Inc., Kinetic Green Energy & Power Solutions Ltd., Ford Motor Company, Honda Motor Co. Ltd now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability. 'Tesla Inc.', 'Nissan Motor Corporation', 'BMW MOTORRAD', 'General Motors Company ', 'BYD Auto Co. Ltd.', 'Daimler AG', 'Ford Motor Company', 'Volkswagen AG', 'Toyota Motor Corporation', 'Honda Motor Co., Ltd.', 'Hyundai Motor Company', 'Kia Corporation', 'Renault SA', 'Mahindra & Mahindra Ltd.', 'Tata Motors Limited', 'Bajaj Auto Limited', 'Hero Electric Vehicles Pvt. Ltd.', 'Piaggio & C. SpA', 'Zero Motorcycles Inc.', 'Brammo Inc.'

Rising Level of Greenhouse Gases to Boost Market Growth

The escalating environmental issues, including carbon emissions and greenhouse gas emissions, are what is fueling the expansion of the worldwide electric mobility market. The global transportation and automotive sectors are both expanding as a result of this issue. The global market for electric mobility is expected to rise due to the hazardous emissions that conventional or fuel-based vehicles release. As a result of these hazardous chemicals, air pollution levels rise. This had stopped the global vehicle industry from growing.

Due to the adoption of electric vehicles, notably electric scooters, and electric bikes, in developing nations like India and China, the Asia-Pacific region has the largest market share (22.8%) and CAGR (53.89%) throughout the course of the forecast. Additionally, the rising cost of fuel and growing public concern over rising pollution will foster additional market expansion. China and Japan are among the top producers and distributors of electric vehicles in Asia. Furthermore, given that China accounts for the majority of EV demand, the country is anticipated to dominate the regional market throughout the projection period.

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