CAGR: 32.7%

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By Daniel Webster, dWeb.News

NOIDA, India, July 19, 20, 2121 /PRNewswire/ — UnivDatos Market Insights has recently added a comprehensive overview of Zero Emission Vehicle Market to its massive database. This report is a compilation of information from many dynamics, including market drivers, restraints and opportunities. This unique report uses multiple analyses to provide a better understanding of the Zero Emission Vehicle Market in Global context. This report provides a comprehensive analysis of market trends and the latest industry developments. This statistical market research repository also examines and estimates Zero Emission Vehicle Market at both the country and regional levels. Global Zero Emission Vehicle Market will grow at 32.7% CAGR between 2021-2027, to reach 73.5 million vehicles by 2027.
Market Overview
The global zero emission vehicle market is seeing significant growth due to electric cars that are becoming more affordable in some countries. Many governments also provided or extended fiscal incentives to offset the decline in car market prices. According to BCG, the global market share for electrified cars and SUVs grew from 8% to 12% in 2019 and continued to grow in early 2021.
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Other factors that are driving global growth in Zero Emission Vehicles include improvements in battery technology, cost reductions, the construction of more charging infrastructure, and new models from automakers. Electrification is another driving force that is spreading to new segments in road transport, setting the stage of huge changes.
COVID-19 Impact
Global car sales fell due to lockdown. However, electric car sales in 2020 defied that trend. According to IEA, consumers spent USD 120 billion on electric cars in 2020. This represents a 50% increase over 2019, which translates into a 41% sales increase and a 6% increase in average prices. The global average price of a BEV was USD 40,000, and a PHEV was approximately USD 50,000. In 2020, the global government spent USD 14 billion on tax deductions and direct purchase incentives for electric cars. This is a 25% increase year-on-year. Despite this, government incentives have been declining in proportion to total spending on EVs from around 20% in 2015 to 10% by 2020.
Global Zero Emission Vehicle Market report has been thoroughly studied with many aspects that would assist stakeholders in making more informed decisions.
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The market is divided into two segments based on vehicle type:
Battery Electric Vehicles (BEVs)
Plug-in Hybrid Electric Vehicles
Fuel Cell Electric Vehicles (FCEV).
With a market share of XXMillion vehicles sold in 2020, the BEV segment dominated. This segment is expected to grow at an average CAGR of XX% over the forecast period, reaching XX million sales by 2027. This is due to the fact that BEVs are available in all vehicle segments.
The market is segmented by product type into:
Other Vehicles
The cars segment dominated Zero Emission Vehicle Market in 2020 and accounted for XX% of the market share. Due to the high demand and production targets of OEMs around the globe, this segment will see a significant CAGR of XX% over the forecast period (2021-2027F).
The market is primarily studied by Application:
Commercial Vehicles
Passenger Vehicles
With the sale of XX millions vehicles in 2020, the Passenger Vehicles segment accounted for XX% of the Zero Emission Vehicle Market. This segment is expected to grow at an average CAGR of XX% over the forecast period and reach XX millions vehicles sales by 2027, owing to increased demand from governments around the world.
Segmentation of the Global Zero Emission Vehicle Market Regions Includes:
North America
Asia Pacific
Rest of the World
Based on the estimates, Asia-Pacific dominated in 2020 and will continue to dominate the market during the forecast period (2021-2027).
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The market is dominated by the following players:
Tesla Inc.
BYD Company Ltd.
Daimler AG
Volkswagen AG
Toyota Motor Corporation
General Motors
Competitive Landscape
Analyzing several key players in the Global context has helped to determine the degree of competition among these prominent companies. The research analysts form a specialist team that analyzes various aspects such as market share, global market competition, industry advancements, most recent industry developments, and innovative product launches. Different research methods were used to analyze the major players and gain insight into market competition.
This report provides key insights into the market and answers to these questions:
. What are the latest trends and technological advances in the Global Zero?
Emission Vehicle Market
What factors will influence the Global Zero Emission Vehicle Market during the forecast period?
What are the global threats, challenges, and risks to the Global Zero Emission Vehicle Market (GZEV)?
What are the factors that drive and restrain the Global Zero Emission Vehicle Market
What are the most important global regions for the Zero Emission Vehicle Market
What will the market size be in the next years?
What are the key market acquisition strategies and policies that the companies employ?
We are familiar with the needs of different countries, regions, or businesses. Therefore, we can provide customized reports to meet your business requirements. We are happy to assist you with any special requests.
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UnivDatos Market Intelligences
UnivDatos Market Insights is a passionate market research company and a subsidiary to Universal Data Solutions. We believe in providing insights through Market Intelligence Reports and Customized Business Research. Our research studies cover a wide range of topics and we have access to markets in more than 100 countries through smart research techniques. We provide in-depth research, detailed analysis, customized reports, and other services that help clients create winning business strategies.
UnivDatos Market InsightsPawnendra PawanClient development LeadPh: +91 7838604911Email to [email protected] Website
SOURCE UnivDatos market insights

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