Electric Vehicles and Fuel Cell Vehicles: Global Markets

Report Code: FCB040E

Publish Date: Aug 2022

Publisher: BCC Publishing

Category: Fuel Cell and Battery

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Report Highlights

The global electric vehicles and fuel cell vehicles market should reach $2.5 trillion by 2027 from $816.5 billion in 2022 at a compound annual growth rate (CAGR) of 25.0% for the forecast period of 2022 to 2027.

Report Includes

  • 184 data tables and 47 additional tables
  • An up-to-date overview and analysis of the global and regional markets for electric vehicles (EVs) and fuel cell vehicles (FCVs) within the industry
  • Analyses of the global market trends, with market revenue (sales data) for 2021, estimates for 2022 and 2023, and projections of compound annual growth rates (CAGRs) through 2027
  • Estimation of the actual market size for electric vehicles and fuel cell vehicles in value and volumetric terms, revenue forecast, and corresponding market share analysis by vehicle type, configuration, power source and geographic region
  • Updated information about the industry standards, government and industry support, regulations, and other factors that will shape this market demand in the coming years (2022-2027)
  • Market outlook and market assessment for unit shipments of commercially viable EVs and summary of details of power sources that make these vehicles possible
  • Discussion of the industry value chain analysis providing a systematic study of the key intermediaries involved, which could further assist stakeholders in formulating appropriate strategies
  • In-depth information on increasing investments on R&D activities, key technology issues, industry specific challenges, major types of end-user markets, and COVID-19 implications on the progress of this market
  • Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
  • Descriptive company profiles of the leading global players, including BMW AG, Ford Motor Co., Honda Motor Co. Ltd., Nissan Motor Co. Ltd., and Tesla Inc.

Report Scope

After decades of expensive development and false starts, the world is finally ready for EVs. In this report, the term “electric vehicles” includes commercial approaches such as pure battery-powered, plug-in hybrid, hybrid internal combustion/battery, and FCVs. In addition to cars and trucks, this report also considers motorcycles, e-scooters and buses.

This report discusses three future scenarios, that is, pessimistic, consensus, and optimistic; forecasts are provided for the consensus scenario. Power source (lithium-ion batteries and fuel cells) sales and values are provided. A patent analysis and discussion of power sources and vehicle components describe the areas in which research is being performed and emphasizes intellectual property issues.

The values are expressed in billions of dollars ($ billions), and shipments/volumes are expressed in thousands of units. Values are based on the equivalent of wholesale, or the price charged to the retailer before mark-up. However, advanced EVs are sold below the actual manufacturing cost. This may be due to regulatory compliance or the desire to establish a market before the economics of scale take hold. The cost to consumers may be reduced considerably when government subsidies or possible tax breaks are considered in the dealer price.

As defined by BCC Research for this report, EVs and FCVs include the following:

  • BEV (Battery Electric Vehicle).
  • HEV (Hybrid Electric Vehicle).
  • PHEV (Plug-in Hybrid Electric Vehicle).
  • FCEV (Fuel Cell Electric Vehicle).

Specific types of vehicles using these batteries include:

  • Passenger vehicles (sedans, microcars, SUVs, crossover SUVs, sports cars).
  • E-scooters (two-wheelers, motorcycles).
  • Buses.
  • Commercial/industrial vehicles (light duty trucks, pick-up truck, heavy duty trucks, vans, etc.)
  • Others (niche vehicles & low-velocity vehicles).

BCC Research analyzed each major EV technology, determined its current market status, examined its impact on future markets, and uses this analysis to present growth forecasts over the next five years. Technological issues, including the latest trends, are assessed and discussed, as are the industry’s current and likely regulatory environments.

BCC Research analyzed the industry worldwide regarding the manufacturing and deploying technologies or products. For the most relevant and available EVs, BCC Research examined the role of government both in regulating the industry and supporting electric vehicle & fuel cell vehicles through promotional incentives. The report discusses recent trends and sales and provides industry overviews and market assessments for leading EV technology. Estimated values used are based on manufacturers’ total revenues.

Regional and country-level markets are segmented and analyzed by configuration and application. The report also covers the impact of the COVID-19 pandemic. The market sizes and estimations are provided regarding revenue, with 2021 as the base year; market forecasts will be given for 2022 to 2027.

Report Synopsis

Report Metrics Details
Base year considered 2021
Forecast period considered 2022-2027
Base year market size $669.3 billion
Market size forecast $2,491.0 billion
Growth rate CAGR of 25% from 2022 to 2027
Units considered $ Millions
Segments covered Configuration, Vehicle Type, Power Source, Region
Regions covered North America, Europe, Asia-Pacific, South America, The Middle East and Africa
Countries covered U.S., Canada., Mexico., Germany., U.K., France., Norway., The Netherlands., Rest of Europe., China., Japan., India., South Korea., Rest of Asia-Pacific., Brazil., Argentina., Rest of South America, South Africa., Rest of Middle East and Africa.
Key Market Drivers
  • Increase in the Demand for Electric Vehicles (HEVs, PHEVs, Pure EVs, and FCEVs)
  • Tax Incentives and Regulatory Assistance for Plug-in Hybrid Electric Vehicles (PHEVs)
  • Lower Fuel Consumption when Compared to Conventional ICE Vehicles
  • Low Emissions for Electric Vehicles, When Compared to Conventional ICE Vehicles
  • EV Battery Costs should be Reduced to Sustain Demand for Cost-effective EVs
Companies studied
AB VOLVOBMW AG
BYD CO. LTD.CHRYSLER (SUBSIDIARY OF FIAT CHRYSLER AUTOMOBILES NV)
DAIMLER TRUCK AG. (MERCEDES-BENZ GROUP AG.)FORD MOTOR CO.
GENERAL MOTORSHONDA MOTOR CO. LTD.
HYUNDAI MOTOR CO.KIA CORP.
MITSUBISHI MOTORS CORP.NISSAN MOTOR CO. LTD.
PEUGEOTPORSCHE
RENAULT GROUPSTRATASYS LTD.
SUZUKI MOTOR CORP.TESLA INC.
TOYOTA MOTOR CORP.VOLKSWAGEN AG (AUDI)
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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.

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Table of Contents

All reports provided in PDF format. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at info@bccresearch.com
Title/Chapter NamePagesMember Price
Full Report: Electric Vehicles and Fuel Cell Vehicles: Global Markets382Free
Chapter- 1: Introduction12Free
Chapter- 2: Summary and Highlights2Free
Chapter- 3: Market Overview 47Free
Chapter- 4: Market Breakdown by Configuration21Free
Chapter- 5: Market Breakdown by Vehicle Type35Free
Chapter- 6: Market Breakdown by Power Source21Free
Chapter- 7: Market Breakdown by Region180Free
Chapter- 8: Competitive Landscape16Free
Chapter- 9: Company Profiles46Free
Chapter- 10: Appendix: Acronyms2Free
Published - Jan-2020| Analyst - Andrew McWilliams| Code - FCB040D

Report Highlights

The global electric vehicle market should reach $550.4 billion by 2024 from $257.4 billion in 2019 at a compound annual growth rate (CAGR) of 16.4% for the forecast period of 2019 to 2024.

Report Includes

  • 71 data tables and 65 additional tables
  • Descriptive study of the global markets for electric vehicles (EVs) and fuel cell vehicles (FCVs)
  • 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 AC Propulsion, BMW, Eaton Corp., Detroit Electric, General Motors, Hyundai, Kia Motors, Mazda, Nissan Motor Co. and Porsche
Published - Nov-2019| Analyst - BCC Publishing| Code - FCB040C

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
Published - Jan-2018| Analyst - Donald Saxman| Code - FCB040B

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.
Published - Jan-2015| Analyst - Donald Saxman| Code - FCB040A

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.

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Electric Vehicles and Fuel Cell Vehicles: Global Markets
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