Global Electric Mobility Market By Battery Type (Li-ion, NiMH and Sealed Lead Acid) By Voltage (24V, Greater than 48V, 48V, 36V and others) By Product Type (Electric Car, Electric Scooter & Motorcycle, Electric Bicycle, Electric Skateboard and Others) By Region, Industry Analysis and Forecast, 2019 - 2025
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The Global Electric Mobility Market size is expected to reach $478.9 billion by 2025, rising at a market growth of 24.7% CAGR during the forecast period. Electric mobility, or E-Mobility, or Electro Mobility increasingly accounts for a large share of the global automotive industry and is changing the way the end-user comprehends mobility as a concept. Worldwide governments are taking action to encourage the introduction of electric vehicles (EV) to meet climate change, dependence on oil, local air quality and the growth of industry. Policymakers around the globe are taking steps. Government initiatives to reduce global carbon footprint by minimizing conventional fuel consumption, reducing the cost of environmentally friendly and high-capacity batteries, and rising consumer preference for shared mobility are projected to drive the market during the forecast period.
Global Electric Mobility Market Size
Concerns about the ever-increasing greenhouse gas and carbon footprint of the automobile and transportation industries urge regulatory bodies at the global and state levels to introduce policies that promote the adoption of energy-efficient vehicles. In addition, the growing implementation of Mobility-as-a-Service (MaaS) and the steadily declining costs of high-capacity Li-Ion batteries, which in turn reduces total vehicle costs, are also promoting the adoption of electric vehicle (EV). An economic, technological, and social transformation is taking place in the automotive industry. This is driven primarily by increased awareness of the reduced operational and maintenance costs of EVs, combined with their ability to reduce harmful emissions contributing to global warming. Over the coming years, these favorable trends are likely to work well for the electric vehicles market, driving the electric mobility or e-mobility market.
Free Valuable Insights: Global Electric Mobility Market to reach a market size of $478.9 billion by 2025
Global Electric Mobility Market Share
Based on Battery Type, the market is segmented into Li-ion, NiMH and Sealed Lead Acid. The segment of Li-ion dominated in 2018, recording a substantial share of the market. Throughout the forecast period, the segment is projected to witness the prominent growth rate. Due to economies of production scale and technological developments, the cost of Li-ion battery packs for EVs has declined over the past years and is predicted to further lower by 2030. The segment of nickel-metal hydride (NiMH) is expected to see significant growth as consumers demand high performance and batteries that are more environmentally friendly. Based on Voltage, the market is segmented into 24V, Greater than 48V, 48V, 36V and Others. Based on Product Type, the market is segmented into Electric Car, Electric Scooter & Motorcycle, Electric Bicycle, Electric Skateboard and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Based on the Analysis presented in the Cardinal matrix, BMW Group, Honda Motor Co. Ltd., General Motors Co., Volkswagen AG, Toyota Motor Corporation are some of the forerunners in the Electric Mobility Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ford Motors Co. Ltd., Volvo Group, BMW Group, General Motors Co., Volkswagen AG, BYD Company Ltd., Tesla, Inc., Honda Motor Co. Ltd., Toyota Motor Corporation, Nissan Motor Corporation and Hyundai Motor Company.
Electric Mobility Market Cardinal Matrix
Recent Strategies Deployed in Electric Mobility Market
» Collaborations, Partnerships and Agreements:
- Nov-2019: BYD signed an agreement with Toyota in which both the companies will research and develop the battery electric vehicles and its related parts.
- Oct-2019: Ford Motors India, a Ford Motors Company announced a joint venture with Mahindra & Mahindra in which M&M will develop and market Ford brand vehicles in India and it will market both Mahindra brand and Ford brand in high-growth emerging markets. Under this JV, Ford will hold 49% stake and M&M will hold 51% stake. Also, Ford will transfer its assembly plants in Chennai and Sanand. Ford will retain its Global Business services unit, Ford Credit Ford Smart Mobility, and Ford Engine plant operations.
- Oct-2019: Toyota Motor teamed up with Suzuki Motor in order to launch battery electric vehicle in India. As Toyota is a big leader in Japan and Suzuki is a leader in India; so making team with Suzuki would be helpful for Toyota as it can explore the market and expand its share.
- Sep-2019: Nissan partnered with EDF Group in order to enhance the delivery of electric mobility together in Europe. Under this partnership, Nissan will be responsible for the sale of V2G compatible electric vehicles and EDF Group is responsible for the delivery of charging solutions for the V2G vehicles.
- Sep-2019: Hyundai signed an agreement with Aptiv in which they will form a joint venture for autonomous driving. This JV comprises of 50-50 percent ownership of both the companies.
- Jul-2019: Volkswagen and Autodesk collaborated in order to develop designs for electric vehicles. Through this collaboration, Volkswagen aimed at collecting the fresh and innovative ideas for designing a cool show car.
- Jun-2019: Ford Motors has introduced third-generation self-driving test vehicle with Argo AI for providing safety through variety of conditions in Motor cities. Through this, these companies are testing that how this vehicle operates in different environments. Each car will be deployed with safety driver behind the wheel and a co-pilot in the front of passenger seat to monitor the performance of vehicle.
- Jun-2019: BMW teamed up with JLR (Tata Motors-owned Jaguar Land Rover) for developing the next-generation electric drive units. These units support the overarching technology advancements of both the companies to connected, autonomous, electric and shared mobility solutions.
- Jun-2019: Toyota signed partnership agreement with Subaru in order to develop battery electric vehicle platform. Under this partnership, both the companies will apply Subaru's all-wheel-drive technologies and Toyota's vehicle electrification technologies in the development of electric vehicles.
- Jun-2019: Nissan teamed up with Renault for establishing a new Innovation Lab at Tel Aviv. This lab is focused towards the development of sensors for use in autonomous driving, big data, and cybersecurity solutions.
- May-2019: BYD signed partnership agreement with ENSA Servicios and TRASERVI in order to release the first pure electric taxi fleet in Central America and Panama for promoting electric mobility. Together, these three companies established a first rapid electric charging station for these taxis.
- May-2019: Hyundai came into partnership with Rimac Automobili for strengthening its group efforts that help in leading the high-performance electrified vehicle market.
- Apr-2019: Ford Motors and Rivian signed partnership agreement in which both the companies will work together for developing the all new, next-generation battery electric vehicle for Ford with the help of Rivian's stakeboard platform.
- Mar-2019: Volkswagen came into partnership with e.GO Mobile for developing the production platform for electric vehicles. Under this partnership, e.Go will use the Volkswagen platform for electric cars, Modular Electrification Toolkit (MEB), for bringing the e-vehicles to the market, which complements the Volkswagen model offering.
- Feb-2019: Honda came into partnership with Toyota and Suzuki in order to launch electric cars in India by the end of 2021. All these companies would work together for the development of hybrid vehicles in Indian Subcontinent.
- Jan-2019: Honda extended its partnership with Zipcar for the development of next generation autonomous vehicles. This partnership is aimed at adding hundreds of new Honda vehicle to Zipcar's diverse fleet focusing on supporting the Zipcar’s university program.
- Jan-2019: Ford Motors came into partnership with Volkswagen AG for the development of electric vehicles, autonomous vehicles and mobility services. Under this partnership, Ford will use the electric vehicle platform of Volkswagen for developing zero-emission cars for the European Market by the end of year 2023.
» Acquisition and Mergers:
- May-2019: Tesla acquired Maxwell Technologies, a battery technology company, which are to be used in the production of electric vehicle.
» Product Launches:
- Oct-2019: Volvo introduced XC40 Recharge, its first fully electric car based on its compact SUV XC40. This electric car delivers a range of 400 km on a single charge and output of 408hp. The battery charges to 80% of its capacity in 40 minutes on a fast-charger system.
- Oct-2019: Nissan launched Ariya Concept, a crossover Electric vehicle, which has the features of power acceleration, twin electric motors, and driver assistance technology. This car is aimed at delivering adaptive and seamless travel experiences.
- Jun-2019: BMW Motorrad launched BMW Motorrad Vision DC Roadster, a naked streetfighter with an all-electric powertrain, which helps in retaining the appearance of a boxer in a setup. This setup replaces the engine with a longitudinally oriented and vertically fitted battery.
- May-2019: BYD launched fleet of 12 BYD K9 pure electric buses in order to improve the quality of local transport facility.
- May-2019: Hyundai introduced an electric double-decker bus, aimed at reducing the traffic congestion and air pollution. This bus has passenger capacity of 70 passengers, two fixed-in-space wheelchairs, low floor design, and automatic sliding ramp.
- Apr-2019: BYD launched World's longest 27-m pure electric bus in order to fulfill the demand of different terrains. This bus has a passenger capacity of about 250 people and can travel at the speed of 70 km/h maximum. The bus is equipped with 4WD system, which can switch between 2WD and 4WD and lowers the overall energy consumption of vehicle.
- Mar-2019: Tesla introduced Model Y, a crossover SUV, an electric car in order to strengthen the electric vehicle business. This Model Y is 10% bigger than the Model 3 and has the features of a panoramic glass roof. The model also has 66 cubic feet of cargo space.
- Feb-2019: General Motors Co. released ARĪV, a new eBike brand, which comprises of two integrated, innovative, and connected eBikes: the Meld, a compact eBike, and the Merge, a folding eBike. These bikes can connect with ARIV app through bluetooth that displays battery level, distance travelled, speed, distance, and motor assist level on the phone screen of riders.
- Jan-2019: BYD released world's largest pure electric double-decker bus fleet for expanding its business in China with the aim to enhance green and low-carbon mobility. The height of the upper deck is 1.7 meters; in which walking becomes comfortable and convenient and lower deck is 1.9 meter high, which provides sufficient space for standing. This bus has the functionality of fitted wheelchair area and boarding/debarkation ramps, which offers maximum accessibility to passengers.
- Jan-2019: Toyota Kirloskar Motor, a Toyota Company launched new Camry Hybrid electric car in India with advanced and unique features in order to redefine the luxury sedan experience with its styling, dynamic performance, luxurious & comfortable interiors.
- Apr-2019: Dongfeng Honda Automobile Co., Ltd., a Honda Company expanded its reach to Hubei, China by opening a new auto plant for the production of autonomous vehicles. This plant has the production capacity of approximately 120,000 units/year and it responds flexibly to the advancement of products comprises of acceleration of electrification. Moreover, this plant will accommodate production of electrified models.
- Mar-2019: Ford Motors expanded its reach to Michigan by establishing second plant for the production of next-generation battery electric vehicles (BEV). This investment is focused towards the building of next-generation Mustang and the vehicles which would be produced from this facility will follow the all-electric performance SUV that are coming in 2020 from Ford's Mexico plant.
- Feb-2019: Honda has announced expansion to Itirapina in the state of São Paulo to open a new production plant in Brazil focusing on automobiles. This production facility has the capacity of approximately 1, 20,000 units/year and equipped with a production line that is equipped with Honda’s latest production technologies. These technologies comprise of highly-functional painting technologies, new welding and stamping technologies, which enable shorter processes and other automated technologies that are most appropriate for this plant.
- Nov-2018: Bangladesh Honda Private Ltd (BHL), a Honda Company opened a new motorcycle factory in Bangladesh in order to meet customer demands. BHL will invest in this factory for the expansion of its production capacity by 2021.
Scope of the Electric Mobility Market Analysis
By Battery Type
- Sealed Lead Acid
- Greater than 48V
By Product Type
- Electric Car
- Electric Scooter & Motorcycle
- Electric Bicycle
- Electric Skateboard
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Ford Motors Co. Ltd.
- Volvo Group
- BMW Group
- General Motors Co.
- Volkswagen AG
- BYD Company Ltd.
- Tesla, Inc.
- Honda Motor Co. Ltd.
- Toyota Motor Corporation
- Nissan Motor Corporation
- Hyundai Motor Company
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Electric Mobility Market Related Reports:
What will be Electric Mobility market growth in 2025?
The Electric Mobility market is projected to reach USD 478.9 billion by 2025.
What is the key factor driving the Electric Mobility market?
The major factors that are anticipated to drive the Electric Mobility industry include low consumer awareness and gasoline prices and lack of long-term city strategies.
Which are the leading players in Electric Mobility market?
The leading player in Electric Mobility market includes Ford Motors Co. Ltd., Volvo Group, BMW Group, General Motors Co., Volkswagen AG, BYD Company Ltd., Tesla, Inc., Honda Motor Co. Ltd., Toyota Motor Corporation, Nissan Motor Corporation and Hyundai Motor Company.
Which region dominated the Electric Mobility market in 2018?
The Asia Pacific market recorded a dominant share in 2018.
Which region shows maximum potential growth in Electric Mobility market over the forecast period?
Asia Pacific region market would witness a highest CAGR of 25.8% during (2019-2025).
What is the growth rate of the Global Electric Mobility during the forecast period?
The global Electric Mobility market is poised to grow with a CAGR of 24.7% during the forecast period.