„Electric Vehicle Market by Propulsion (BEV, PHEV, FCEV), Vehicle (PC, CV), Charging Station (Normal, Super, Inductive), Charging Infrastructure (Normal, Type-2-AC, CHAdeMO, CCS, Tesla SC), Power Output, Installation, and Region – Global Forecast to 2025″, Global electric vehicle sales are projected to grow at a CAGR of 32.57% from 1.50 million units in 2018 to 10.79 million units by 2025.
Browse 93 market data Tables and 52 Figures spread through 198 Pages and in-depth TOC on „Electric Vehicle Market by Propulsion (BEV, PHEV, FCEV), Vehicle (PC, CV), Charging Station (Normal, Super, Inductive), Charging Infrastructure (Normal, Type-2-AC, CHAdeMO, CCS, Tesla SC), Power Output, Installation, and Region – Global Forecast to 2025“
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“Availability of government support such as subsidies and tax rebates, increasing consumer awareness, increasing vehicle range, and low charging time has driven the demand for Electric Vehicles globally.”
Government subsidies and tax rebates, a variety of EV models, increasing vehicle range, and improving charging infrastructure are the factors responsible for the growth of the sales of EVs. Lack of standardization is a major restraint for the growth of the electric vehicle market.
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“Combined Charging System (CCS) segment is the fastest growing market in terms of charging infrastructure market”
The Combined Charging System (CCS) is the fastest growing market in terms of charging infrastructure. It is attributed to the fact that the CCS standard is supported by the several US and European automakers. Also, the safety features of CCS include diagnosable lock, proximity and control pilot, and PLC-based communication which drive the growth of CCS infrastructure of EV charging stations.
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“North America is the fastest growing market in terms of sales”
North America is the fastest market for electric vehicles followed by the Asia Pacific. Existing grants and subsidies, tax rebates, and availability of charging infrastructure are contributing to the growth in EV sales in this region. North America is a regional hub for many renowned OEMs, which are known for delivering quality and high-performance vehicles. The OEMs in North America such as Tesla and GM have focused on the development of faster, cleaner, and high-performance electric vehicles.
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