Published by Vironi Solutions LLP
Posted on October 12, 2021
4 min readLast updated: January 29, 2026
The electric vehicles market is set to grow significantly, reaching $1,323.0 Bn by 2027, driven by sustainability and fuel efficiency demands.
The global electric vehicles market is expected to reach US$ 1,323.0 Bn by 2027, with a growing CAGR of 34.1% during the forecast period (2021-2027). As per the report by IEA, the global sales of electric cars were around 3 million units in 2020 with the European market at a leading position in terms of the number of vehicles sold.
Gasoline is a petroleum derivative that is not a renewable source of energy and is anticipated to induce exhaustion in the future. To support sustainable development, it is important to develop and use alternative sources of fuel. This led to the evolution and utilization of electrical vehicles, which do not use gas and are more economical than conventional vehicles. Moreover, the demand for a fuel-efficient vehicle has increased recently due to the increase in the price of petrol and diesel. This is due to depleting fuel reserves and therefore the growth within the tendency of companies to realize maximum take advantage of these oil reserves. Thus, these factors produce the necessity for advanced fuel-efficient technologies, resulting in a surging demand for electrically powered vehicles for travel.
Battery electric vehicles incorporate autonomous delivery vehicles, industrial vehicles, and public transport vehicles. However, the expense and reach impediments related to EV batteries are a significant limiting element for the progress to electric portability. Its capacity determines the value of an electric vehicle battery in kilowatt-hours (kWh), which dictates its range and therefore the power level of the motor that it supplies.
Get a Sample Copy of the Electric Vehicles Market Report 2021-2027 Including TOC, Figures, and Graphs at https://www.alltheresearch.com/sample-request/741
Points Covered in this report are:
To share detailed information about the key factors such as manufacturers, raw material suppliers, equipment suppliers, end users, traders, distributors, etc.
To study and analyze the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Key Players covered in the Electric Vehicles Market report is:
For more Customization, Connect with us at https://www.alltheresearch.com/customization/741
By Type :
By Vehicle Type:
Electric Vehicles Market by Region Outlook:
In terms of geography, The Asia Pacific region is expected to grow at a rapid pace owing to the presence of abundant natural resources like minerals, ores, among others, in countries like China, India, Australia, Malaysia, and other Asian countries. These countries carry out mining and construction activities to extract natural resources in the region. The construction industry of the region has started adopting Electric Vehicles for site inspection and for speeding up construction activities on site.
Get the PDF to understand the CORONA Virus/COVID19 impact and be smart in redefining business strategies: https://www.alltheresearch.com/impactC19-request/741
About AllTheResearch:
We are a market-intelligence company formed with the objective of providing clients access to the most relevant and accurate research content for their growth needs. At AllTheResearch, we understand Research requirements and help a client in taking informed business-critical decisions. Given the complexities and interdependencies of market intelligence, there is always more than one source to explore and arrive at the right answer. Through our smart search feature and our reliable & trusted publishing partners, we are paving way for more simplified and relevant research.
For all your Research needs, reach out to us at:
Contact Person: Rohan S.
Email: contactus@alltheresearch.com
US: +1(407)-768-2028
The article discusses the growth and forecast of the global electric vehicles market by 2027.
The electric vehicles market is expected to reach $1,323.0 Bn by 2027.
The European market is leading in terms of electric car sales as of 2020.
Explore more articles in the Research Reports category
