Report Highlights
The global electric vehicles market reached $94.9 billion in 2019 and should reach $183.7 billion by 2024, at a compound annual growth rate (CAGR) of 14.1% for the period of 2019-2024.
Report Includes
- 75 data tables and 67 additional tables
- Descriptive study of the global markets for electric vehicles (EVs) and fuel cell vehicles (FCVs)
- Analyses of global market trends with data from 2018, estimates for 2019, and projections of compound annual growth rates (CAGRs) through 2024
- Data corresponding to market value and unit shipments of commercially viable EVs, including hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and pure battery-powered electric vehicles (BEVs)
- Summary of details pertaining to power sources that make these vehicles possible, including lead-acid, nickel-metal hydride, lithium-ion batteries, and proton-exchange membrane fuel cells
- Identification of the companies that are best positioned to meet this demand because of their proprietary technologies, strategic alliances or other advantages
- Company profiles of leading market participants within the industry, including Automotive Fuel Cell Cooperation Corp., Bae Systems, China Motor Corp., Ferrari, General Motors, Harley Davidson, Hyundai Motor, Mitsubishi, Nissan Motor Co., Skoda, Tata Motors, and Yamaha
Report Scope
After decades of expensive development and false starts, the world is finally ready for EVs. For the purpose of this report, the term “electric vehicles” includes commercial approaches such as pure battery-powered, plug-in hybrid, hybrid internal combustion/battery, range extended, and FCVs, as well as vehicles powered by developmental power sources such as supercapacitors and flywheel. In addition to cars and trucks, this report considers motorcycles/ E-Bikes, scooters, buses, neighborhood EVs, self-driving carts, military vehicles, and locomotives.
This report details actual figures for 2018 and compound annual growth rate (CAGR) projections for 2019 through 2024 for the global and four regional markets. Although this report discusses about three future scenarios, pessimistic, consensus and optimistic, forecasts are provided for consensus scenario. Power source sales and values are provided. A patent analysis and discussion of power sources and vehicle components describes the areas in which research is being performed and emphasizes intellectual property issues.
Note that values are expressed in million dollars and shipments are expressed in 1,000 vehicles. In both cases, totals are rounded to the nearest integer (i.e., less than $500,000 is expressed as 0.)
Values are based on the equivalent of wholesale, or the price charged to the retailer prior to mark-up. However, advanced EVs are sold at a price below actual manufacturing cost. This may be due to regulatory compliance or the desire to establish a market before economics of scale kicks in. The cost to consumers may be reduced considerably when government subsidies or possible tax breaks are added to the dealer price.
As defined by BCC Research for this report, EVs and FCVs include the following:
- HEVs.
- PHEVs.
- EVs (pure EVs).
Specific types of vehicles using these batteries include:
- Passenger vehicles (sedans, microcars, SUVs, crossover SUVs, pickup trucks, sports cars).
- Low-velocity vehicles (golf carts, neighborhood EVs, personal mobility devices).
- Scooters (two-wheelers, motorcycles, some three-wheelers).
- Buses.
- Commercial/industrial vehicles (material handling equipment, burden carriers, forklifts, trucks).
- Niche vehicles (self-driving vehicles, military equipment, locomotives).
This report defines the market sectors, identifies leading companies and analyzes the markets to provide a five-year market forecast. Finally, the company profiles section provides the status of and recent events for companies making power sources.
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
- AI Impact on Specialty Water Treatment Chemicals Market - BCC Pulse Report (AIT086A)
- Data Center Networking Technologies: Global Markets (IFT103C)
- Global GLP-1 Analogues Market (PHM289A)
- Elastomers: Applications and Global Markets (CHM056E)
- Biofuels: Global Markets (EGY064F)
Related Reports
Automotive Battery Management System: Global Markets
The global market for automotive battery management system (BMS) is projected to grow from $6.4 billion in 2025 to reach $13.9 billion by the end of 2030, at a compound annual growth rate (CAGR) of 16.8% from 2025 to 2030.
Electric Vehicle Charging: Infrastructure and Global Markets
The global market for wired electric vehicle charging infrastructure is estimated to grow from $24.1 billion in 2022 to $81.1 billion in 2027, at a compound annual growth rate (CAGR) of 27.4% for the period of 2022-2027.
Graphite: Technologies and Global Markets
The global market for graphite is estimated to grow from $17.5 billion in 2022 to $25.0 billion in 2027, with a compound annual growth rate (CAGR) of 7.3% for the period of 2022-2027.
Alternatively Powered Commercial Vehicles: Global Fuel Markets
The global market for alternative fuel for all classes of commercial vehicles with oil prices at $40 per barrel should grow from $11.1 billion in 2021 to $19.4 billion by 2026 with a compound annual growth rate (CAGR) of 11.8% for the period of 2021-2026.
Track the Latest Global Tariff Developments
In today's fast-paced global economy, tariffs are no longer static—they are dynamic levers shaped by geopolitical realignments, supply chain vulnerabilities, inflationary pressures, and sustainability-driven trade reforms. As governments worldwide recalibrate their trade strategies, businesses are left to navigate a maze of shifting rules, rising costs, and regulatory uncertainty.
Our analysis empowers you with real-time updates and in-depth expert analysis on all facets of global tariff activity. From new trade agreements and sanctions to abrupt tariff hikes and retaliatory duties, we monitor developments across borders, sectors, and industries—so you don't have to.
Whether it's the ongoing U.S.–China trade dynamics, the evolving EU Carbon Border Adjustment Mechanism (CBAM), or the emerging policies in India, ASEAN, and Latin America, we provide full-spectrum coverage. We also track multilateral trade negotiations, World Trade Organization (WTO) rulings, and sector-specific duty structures—ensuring you are always ahead of global trade shifts.
With our analysis, you can stay informed, identify risks, and confidently respond to tariff changes—no matter where you operate.
Ready to see what tariff means for your business?
Consult with our experts or request your custom Tariff Impact Brife today
Stay Informed, Stay Competitive
In today's interconnected and unpredictable global economy, staying ahead of tariff shifts is not just important—it's essential. BCC Research provides decision-makers with trusted, research-driven insights that turn uncertainty into opportunity.
Our in-depth market analysis and trade intelligence help you decode how tariff changes impact your specific sector—manufacturing, healthcare, technology, agriculture, or energy. We break down complex data into actionable knowledge through comprehensive reports, expert commentaries, and sector-focused forecasts.
Our analysis includes:
- Thorough breakdowns of current and proposed tariff policies and how they affect regional and global trade flows.
- Sector-specific implications, helping you understand the strategic impact on sourcing, pricing, and competitiveness.
- Forward-looking insights to support risk management, planning, and response strategies for evolving trade conditions.
With BCC Research, you gain more than just information—you gain clarity and confidence to make well-informed decisions in a volatile trade environment.
Don't let tariffs catch you off guard—let our insights guide your strategy.
Recent Reports
Global Neighborhood Electric Vehicles Market
This report provides an analysis of the global market for neighborhood electric vehicles (NEVs) by battery type, end user and region. It highlights significant driving trends and challenges that affect the global market and its vendor landscape. The report concludes with a competitive landscape and company profiles of the leading global players.
Global Market for Hydrogen Pipeline
This report provides a detailed understanding of the global market for hydrogen pipeline and analyzes industry trends from 2024 to 2030. It presents an analysis of the global market based on type, pressure, distance, pipeline status, pipeline structure, and region. The report also presents the industry competitive landscape and profiles of the leading market players.
Residential Energy Storage, Blockchain and Energy Sharing Systems: Technologies and Global Markets
The global market for residential energy storage systems (RESS) is estimated to grow from $8.0 billion in 2025 to reach $17.2 billion by the end of 2030, at a compound annual growth rate (CAGR) of 16.4% from 2025 to 2030.
Global EV Battery Testing Market
The global market for electric vehicle (EV) battery testing is expected to increase from $4 billion in 2025 to reach $9.4 billion by the end of 2030, at a compound annual growth rate (CAGR) of 18.4% from 2025 through 2030.
Global Market for Hydrogen Trucks
This report provides an overview of the global hydrogen trucks market. It focuses on the significant driving trends and challenges that affect the market and vendor landscape. The report concludes with an analysis of the competitive landscape and company profiles of prominent players in the industry.
Top Trending Reports
Contract Manufacturing of Medical Devices: Global Markets
The global market for contract manufacturing of medical devices is estimated to grow from $96.4 billion in 2025 to reach $155.2 billion by 2030, at a compound annual growth rate (CAGR) of 10% from 2025 to 2030.
Bioprocess Filtration: Global Markets
The global market for bioprocess filtration is estimated to grow from $8.4 billion in 2025 to reach $15.6 billion by 2030, at a compound annual growth rate (CAGR) of 13.1% from 2025 through 2030.
Global Data Center Market
The global market for data centers is expected to grow from $418.2 billion in 2025 and is projected to reach $691.6 billion by the end of 2030, at a compound annual growth rate (CAGR) of 10.6% during the forecast period of 2025 to 2030.
Biological Therapies for Cancer: Technologies and Global Markets
The global biological therapies market for cancer is expected to grow from $157 billion in 2025 and is projected to reach $225 billion by the end of 2030, at a compound annual growth rate (CAGR) of 7.5% during the forecast period of 2025 to 2030.
Immunotherapy Drugs: Global Markets
The global immunotherapy drugs market is expected to grow from $260.7 billion in 2025 and is projected to reach $467.4 billion by the end of 2030, at a compound annual growth rate (CAGR) of 12.4% during the forecast period of 2025 to 2030.
Report Highlights
The global market for electric vehicle (EV) will grow from $75.7 billion in 2017 to around $127.7 billion by 2022 with a compound annual growth rate (CAGR) of 11.0% for the period of 2017-2022.
Report Includes
- 158 data tables and 69 additional tables
- An overview of the global market for electric vehicles, including battery-powered vehicles, fuel-cell-powered vehicles, and hybrid vehicles.
- Analyses of global market trends, with data from 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2022.
- Details on many types of electric vehicles being considered, including passenger cars, trucks, buses, e-bikes and scooters, motorcycles, and material handling and industrial vehicles.
- Discussion on the developing EV markets, such as military vehicles, locomotives, marine vehicles, and vehicle auxiliary power units.
- A summary of the power sources that make these vehicles possible, including lead-acid, nickel-metal hydride, lithium-ion batteries and proton-exchange membrane fuel cells; niche power source possibilities are also considered.
- Profiles of leading companies in the industry, including: AC Propulsion, AMZ-Kutno, Arcimoto, AstonBus USA, BAE Systems, Bentley Motors Inc., Blue Sky Design LLC, BNSF Railway, Bolloré, Boulder Electric Vehicle, Brammo Inc.
Report Highlights
The global electric vehicle (EV) market was worth over $73.0 billion in 2014. This market is expected to reach about $109.8 billion by 2019, with a compound annual growth rate (CAGR) of 8.5% from 2014 to 2019.
Report Includes
- An overview of the global market for electric vehicles including battery-powered vehicles, fuel cell-powered vehicles, and hybrid vehicles.
- Analyses of global market trends, with data from 2013 and 2014, and projections of CAGRs through 2019. Both value and units shipped are provided.
- Details on many types of electric vehicles being considered including passenger cars, trucks, buses, eBikes and scooters, motorcycles, and material handling and industrial vehicles.
- Discussion on developing EV markets like military vehicles, locomotives, marine vehicles, and vehicle auxiliary power units.
- A summary of the power sources that make these vehicles possible; power sources considered include lead-acid, nickel metal hydride, lithium-ion batteries and proton exchange membrane fuel cells, and developmental and niche power source possibilities are also considered.
- Detailed profiles of leading companies in the industry.
Become A Member
BCC Research offers a comprehensive library of reports, granting members unlimited access to data, insights, and market intelligence for informed business decisions, while actively supporting members in their evolving journeys and prioritizing high-quality, relevant topics based on continuous engagement with the research community.
Find Out MoreCustom Consulting
BCC Research emphasizes the importance of organizations leveraging highly customized market insights aligned with specific strategic business objectives through direct engagement with primary sources and proprietary forecasting models for profitable decision-making in maximizing growth opportunities and minimizing risks.
Customize NowScorecard
The Venture Scorecard provides commercialization offices and decision makers with expert analysis, offering strategic insights crucial for aligning objectives with market realities at various stages of commercializing new products or evaluating investment opportunities, from opportunity assessment to growth planning.
Find Out MoreInnovation Spotlight
Our industry experts offer strategic guidance to maximize the market potential of commercialized products, patents, and IP by providing insights into market trends, competitive dynamics, and effective positioning, using the Innovation Spotlight service for enhanced exposure to thought leaders and the wider community.
Find Out More