Electric Vehicles (Ev) Market Growth, Size, Share, Analysis, Research Trends and Segment Forecasts 2012 to 2020: Hexa Research

The electric vehicles (EV) market has seen significant development owing to required for resolving future energy resources. This market is rising and becoming integral part of the automotive industry. It represents a way to achieve energy efficiency coupled with decreasing release of pollutants and few other greenhouse gases. Increasing concerns related to environment along with the positive initiatives taken by government are some of the main reasons driving the market development Increasing competition and energy cost amongst rising energy effectiveness in technologies is also anticipated to fuel the market growth. China-owned BYD and Google’s Recharge IT program have invested a lot in green car technologies. Buying an electric automobile remains a big judgment for many customers with considerations such as falls caused by stray power cords and safety concerns regarding any electrical hazards. A high initial investment for buying vehicle is restricting driving range and be deficient of vehicle-recharging facility in public places is anticipated to hinder the electric vehicles market. For utilities, automobile development presents restrains peak load impacts of uncontrolled charging such as high cost of infrastructure, which may hinder EV market growth. Advancement in technology with respect to batteries have durability and higher efficiency coupled with advance features which may provide best opportunities for growth of market. Increasing adoption is also projected to offer opportunities for auto manufacturers, utility providers, and customers. Smart grids make possible neat charging by offering utilities with improved manage over all aspects of functions.

Product Insights

The electric vehicles market is widely categorized into Hybrid Electric Vehicles (HEV), Plug-in Electric Vehicles (PEV), , Battery Electric Vehicles (BEV). Emerging of PEVs across the light duty fragment is anticipated to positively impact the PEV market development. The Hybrid electric...