The Electric
Vehicles (EV) market has surged ahead in the terms of growth, riding on
several factors which arose recently in the past. It has taken the world by
storm and is expected to grow leaps and bounds in the future too.
Industry on a growth path.
The impressive gains that
the Electric vehicles Market made is due to the mix of many pressing factors,
such as the growing demands of sustainable transportation facility coupled with
the awareness regarding the harmful effects of Greenhouse Gases (GHG), released
mainly from the Internal combustion engine (ICE) of the gasoline-dependent
vehicles. Along with this, recent push of several countries towards greener and
cleaner environment after the Paris climate conference (COP 21) in 2015 and
Katowice climate conference COP 24 in 2018 has given a major boost to the
sector. Countries like USA, UK and France among others, have taken a lead in
boosting the investment to Electric vehicles market, in addition to providing
favorable regulations for the same. In addition to this, Higher efficiency of
electric vehicles and rising fuel costs are expected to push the demand further
ahead in the future.
Low cost of running and maintenance pushes
the demand.
With only $ 1.2 per mile cost of running by an
electric vehicle, compared to the $ 4 per mile of fuel-based vehicle, demands
for the electric vehicles increases. Along with this, low maintenance
requirement of battery, engine and other electronic instruments of electric
vehicles (EV), compared to ICE vehicles, is expected to drive the demands in
the market further ahead.
Browse
Details of Report @ https://www.grandviewresearch.com/industry-analysis/electric-vehicles-ev-market
Health benefits to drive the growth.
Other factor that has given a major push to the sector
is the awareness regarding the immediate health benefits that people receive
after shifting to electric vehicles, i.e. Reduction in air pollution, leading
to decrease in rate of contracting dangerous diseases like asthma, bronchitis,
and lung cancer, among others. This has been highlighted by major world
organizations like WHO, Médecins Sans Frontières (MSF) and Red cross among
others. Thereby, increasing the demand in the sector.
Investment
by giants and competition in the sector.
Several giants in the sector
are investing heavily leading to boost in the market. Google’s
RechargeIT program and China-based BYD have invested heavily in green car
technologies. Along with them, Tesla has been indulging into research and development
in electric vehicles, leading to the development of Tesla S P100D model.
Volkswagen and Chevrolet were also able to make a strong mark on the market with
their launches, e-Golf and BOLT EV, respectively. Also, Researchers from
Stanford University have developed a protective nano particle layer for the
batteries that helps to tackle heating problems of the battery, leading to
increase in its efficiency.
Leading players in this intensely competitive market
are Nissan (Japan), Tesla (USA), BYD (China), Toyota (Japan) and General Motors
(USA). Other players which constitutes this market are Renault S.A, Daimler AG,
Mitsubishi Motors Corporation, Volkswagen and Smith electric vehicles.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment