DUBLIN, July 5, 2021 /PRNewswire/ — The “Electric Vehicles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.
The global electric vehicles market reached a volume of 2.45 Million Units in 2020 . An electrical vehicle (EV) is a self-propelling automobile that is used for transporting passengers and goods. It can be charged by self-charging devices, including turbochargers and regenerative braking systems that can convert the kinetic energy into electrical energy or can be powered by a large traction battery pack present at charging stations. Battery-electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs) and hybrid electric vehicles (HEVs) are the most common types of EVs available in the market. In comparison to the traditionally used automobiles, EVs do not emit tailpipe emissions, reduce the dependency on oil and are more economical to operate. Looking forward, the publisher expects the global electric vehicles market to grow at a CAGR of around 47% during the forecast period (2021-2026).
The increasing demand for fuel-efficient automobiles across the globe is one of the key factors driving the growth of the market. Furthermore, growing concerns regarding the detrimental environmental effects due to greenhouse gases (GHGs) emissions, along with the implementation of favorable government policies encouraging sustainable development, are also providing a…
