Bharat Book Bureau Provides the Trending Market Research Report on Global Electric Vehicles and Fuel Cell Vehicles Market Forecast 2017 to 2022 under Energy & Utility category. The report provides information on industry overview, market size, latest developments, industry trends, Key players, global presence, and their future prospects.
The Global Market for Electric Vehicle (EV) will grow from $75.7 billion in 2017 to around $127.7 billion by 2022 with a compound annual growth rate (CAGR) of 11.0% for the period of 2017-2022.
- 158 data tables and 69 additional tables
- An overview of the global market for electric vehicles, including battery-powered vehicles, fuel-cell-powered vehicles, and hybrid vehicles.
- Analyses of global market trends, with data from 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2022.
- Details on many types of electric vehicles being considered, including passenger cars, trucks, buses, e-bikes and scooters, motorcycles, and material handling and industrial vehicles.
- Discussion on the developing EV markets, such as military vehicles, locomotives, marine vehicles, and vehicle auxiliary power units.
- A summary of the power sources that make these vehicles possible, including lead-acid, nickel-metal hydride, lithium-ion batteries and proton-exchange membrane fuel cells; niche power source possibilities are also considered.
- Profiles of leading companies in the industry.
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Chapter 1: Introduction
Study Goals and Objectives
Electric vehicles (EVs) have been a commercial reality for more than 100 years. This report author’s grandfather owned a thriving business that provided Exide lead-acid battery packs to 1920s EV users. Shortly thereafter, inexpensive gasoline and the ever-increasing desire for better performance ended widespread EV use. Oil shortages and increasing concern about the environment began to revive the industry in the 1970s, but wide adoption of various types of EVs always seemed just beyond the horizon. It would happen as soon as gasoline cost more than $1 a gallon, or $2, or $4; or as soon as batteries improved to the point they could power a car for 40 miles; or as soon as batteries could be recharged in less than six hours.
These technological and market forces were resolved or exceeded, and during the first five years of the 21st century, the lead-acid battery-powered EV market began a slow, steady period of growth. The subsequent five years saw widespread use of nickel metal hydride battery-powered hybrid electric vehicles (HEVs), the commercial production of pure battery-powered EVs in many niche markets, widespread adoption of (usually) lead-acid battery-powered scooters, and commercial-scale demonstrations of fuel cell vehicles (FCVs).
It was soon determined that HEVs could be turned into nickel metal hydride or lithium-ion battery-powered plug-ins that could be recharged by the vehicle’s internal combustion engine, as well as a battery charger plugged into utility electric power. The original approach to the plug-in was a so-called pure EV that had no internal combustion engine, just a motor and some type of battery bank. However, this new approach resulted in an entirely new class of vehicle: the plug-in hybrid electric vehicle (PHEV) or the extended range EV, which has many of the advantages of both battery power and internal combustion power.
Currently, EVs include passenger vehicles, scooters and buses as well as various niche products. Industrial EVs remain a significant market. State-of-the-art batteries have enabled a growing niche market for trucks, buses, small electric scooters, and Segway-type vehicles. An entirely new market for low-velocity or neighborhood EVs includes everything from relatively low-tech, street-ready golf carts to advanced concept vehicles. Surprisingly, the majority of the world’s EVs are electric scooters, motorcycles, and personal mobility devices sold in the People’s Republic of China. Even in the age of advanced lithium-ion and lithium-ion polymer cells, most of these are still powered by lead-acid batteries. There is a drive to expand this market throughout the Far East and into India. Meanwhile, a revolutionary type of vehicle is emerging: the self-driving or autonomous vehicle. Although these vehicles will not be widely used within the five-year scope of this report, they will eventually become a large (or possibly the largest) type of EV.
Reasons for Doing This Study
The global market for EV power sources is continuing to grow in most market sectors. The long predicted explosive growth was first blunted by the global recession, then the global collapse of gasoline prices, anticipated gasoline prices, relatively isolated safety concerns, and, in some cases, technology that has not always lived up to expectations. Although much of the world remains committed to widespread adoption of EVs to reduce climate change-inducing carbon dioxide generation, the current Trump administration is systematically rolling back Obama-era regulations that supported U.S. EV adoption.
On the other hand, the foundation for much wider EV use is now well established, and there are well-financed private and government-backed plans for the introduction of large numbers of next-generation vehicles. As the market for battery-powered vehicles grows, the emerging market for fuel cell-powered vehicles is poised for a break out due to their wider use. Even as street-ready proton exchange membrane fuel cell EVs hit the roads, a fundamental shift in hydrocarbon recovery is making natural gas more competitive with gasoline and diesel fuels.
With these opposing trends and developments in play, it is more important than ever to have access to an informed analysis of the industry’s status and possible scenarios, as well as a realistic assessment of the industry’s fortunes. This report provides this analysis, starting with a summary of the power storage technology involved and then moving on to detailed profiles of major power source makers, and finally presenting, with well-defined consensus, optimistic and pessimistic market scenarios for units sold, the value of these units, and prices.
Scope of Report
After decades of expensive development and false starts, the world is finally ready for EVs. For the purpose of this report, the term “electric vehicles” includes commercial approaches such as pure battery-powered, plug-in hybrid, hybrid internal combustion/battery, range extended, and FCVs, as well as vehicles powered by developmental power sources such as supercapacitors and flywheel. In addition to cars and trucks, this report considers motorcycles, scooters, buses, neighborhood EVs, self-driving carts, military vehicles, and locomotives.
This report details actual figures for 2013 and 2016 and compound annual growth rate (CAGR) projections for 2017 through 2022 for the global and four regional markets. Power source sales and values are provided under consensus, optimistic and pessimistic scenarios. A patent analysis and discussion of power sources and vehicle components describes the areas in which research is being performed and emphasizes intellectual property issues.
Note that values are expressed in million dollars and shipments are expressed in 1,000 vehicles. In both cases, totals are rounded to the nearest integer (i.e., less than $500,000 is expressed as 0.)
Values are based on the equivalent of wholesale, or the price charged to the retailer prior to mark-up. However, advanced EVs are sold at a price below actual manufacturing cost. This may be due to regulatory compliance or the desire to establish a market before economics of scale kicks in. The cost to consumers may be reduced considerably when government subsidies or possible tax breaks are added to the dealer price.
As defined for this report, EVs and FCVs include the following:
- EVs (pure EVs).
Specific types of vehicles using these batteries include:
- Passenger vehicles (sedans, microcars, SUVs, crossover SUVs, pickup trucks, sports cars).
- Low-velocity vehicles (golf carts, neighborhood EVs, personal mobility devices).
- Scooters (two-wheelers, motorcycles, some three-wheelers).
- Commercial/industrial vehicles (material handling equipment, burden carriers, forklifts, trucks).
- Niche vehicles (self-driving vehicles, military equipment, locomotives).
This report defines the market sectors, identifies leading companies and analyzes the markets to provide a five-year market forecast. Finally, the company profiles section provides the status of and recent events for companies making power sources.
Market assumptions used in this report include those based on updates of material from an earlier version of this analysis, as well as from the following studies:
- FCB024F Large and Advanced Battery Technology and Markets.
- FCB028F Lithium Batteries: Markets and Materials.
This report’s author, Donald Saxman, prepared these studies. Over the past 20 years, he edited the newsletter, “Hybrid and Electric Vehicle Progress,” and its predecessor, “Battery and Electric Vehicles News.”
Both primary and secondary research methodologies were used in preparing this report, including interviews with commercial and government sources, literature reviews and patent examinations. An in-depth analysis of technical and business literature and published dissertations, a review of the history of the technologies involved, and interviews with industry experts, company representatives, federal government researchers, and university scientists were used to assess the outlook for alternative electrical power storage. Other information sources include product literature from suppliers, scientific references, conference proceedings, and patent searches.
Although many segments of the industry are well-documented, much of this information is based on estimates rather than hard facts. The distinction between these estimates and hard facts can be vital, and sources are identified wherever possible. When appropriate, information from previously published sources is identified to allow for a more detailed examination.
Primary and secondary research methodologies were used in preparing this report, which is based on interviews with commercial and government sources, literature reviews and patent examinations. Throughout the report, past market data is expressed in current dollars, and estimates and projections are in constant 2017 dollars. Historic market data (2013) and projected market figures for 2017 through 2022 are provided.
In some cases, automakers price EVs at suggested retail prices far below the actual cost to produce the vehicle. This may be a strategic marketing move to gain market share in an emerging and growing market. It can also be in an effort to meet regulatory quotas to produce a certain number or percentage of low-emissions vehicles. Therefore, this report's market values and predictions are based on a wholesale price that is usually the same as the dealer's price. In addition, manufacturer's suggested retail prices (MSRPs) are provided for key vehicle types.
Most market summaries are based on a consensus scenario that assumes no unanticipated technical advances and no unexpected legislation. Pessimistic, consensus and optimistic market scenarios characterize several key markets. Totals are rounded to the nearest million dollars. When appropriate, information from previously published sources is identified to allow a more detailed examination by clients.
Regions covered include:
- North America: Canada and the U.S.
- Far East: Japan, China, India, Indonesia, etc.
- Europe: Western Europe.
- Rest of World (ROW): South America, Mexico, Central America, Africa, Middle East, Australia, New Zealand, other Pacific nations, Russia, Eastern Europe and Turkey.
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