Electric Vehicle Market Research
Electric vehicle refers to an automotive vehicle in which the propulsion system converts electrical energy in a battery into mechanical energy, so that a vehicle is able to move. Electric vehicles include electric cars, electric trains, electric lorries, electric aero planes, electric boats, electric motorcycles and scooters and electric spacecrafts.
The growing awareness for greener technology has been the primary driver for increased electric vehicle demand. Such vehicles have zero-emission, and use alternate energy sources like fuel cells and hydrogen to completely metamorphise the automobile industry.
Research reveals that the global electric vehicle market in 2009 was worth more than $26 billion, including more than $4.6 billion worth of associated power sources. The global market for electric vehicles is forecast to reach 2.6 million units by the year 2015. Major factors driving growth include growing environmental concerns as a result of deteriorating air quality, and emphasis towards increased alternative fuel consumption to minimize heavy dependence on oil. Strong policy initiatives, including legislations, benefits and rebates from various governments, in a bid to curb further damage to the environment, are further favoring the penetration of electric vehicles.
The hybrid electric vehicles market is worth an estimated $19.3 billion in 2010 and is expected to reach $46.2 billion in 2015, a compound annual growth rate (CAGR) of 19.1% under a consensus scenario.
The Electric Vehicle market research reports incorporate trend analysis, statistics, market size information, industry growth rates, as well as market share of competitors. The comprehensive research also goes on to examine details such as technology & systems and domestic & international markets.
The study is an essential resourc