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Global Electric Vehicle Market Report Growth | Automotive

The global electric vehicle market is expected to reach 17,957 thousand units, and is growing at a CAGR of 19.80% during the forecast period, 2022-2026. Read more<br>

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Global Electric Vehicle Market Report Growth | Automotive

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  1. Government’s Zero-Emission Pledges Incentivize Global Electric Vehicle Market Inkwood Research anticipates that the Global Electric Vehicle Market is set to record a 19.80% CAGR in terms of revenue during the forecast period, 2022-2026. “Browse 39 market data Tables and 39 Figures spread over 143 Pages, along with an in-depth TOC on the Global Electric Vehicle Market Forecast 2022-2026.” VIEW TABLE OF CONTENT LINK - https://inkwoodresearch.com/reports/electric-vehicle-market- forecast-2022-2026/#table-of-contents Electric vehicles (EVs) operate on electric motors instead of power generated by internal- combustion engines by burning a mix of fuel and gases. Therefore, these vehicles are considered possible replacements for the current automobile to address the issue of natural resource depletion, global warming, rising pollution, etc. Electric vehicles have drawn considerable interest in the past decade amid fuel-based vehicles’ rising carbon footprint and other environmental impacts. Electric vehicles have low running costs as they have fewer moving parts for maintenance. They are also environmentally friendly, using little or no diesel or petrol. Some EVs use nickel metal hydride, lead acid, or batteries, the standard for modern battery electric vehicles is now considered lithium- ion batteries as they have greater longevity and excellent energy retention.

  2. REQUEST FREE SAMPLE LINK - https://inkwoodresearch.com/reports/electric-vehicle-market- forecast-2022-2026/#request-free-sample Net-Zero Pledges Boost the Global Market Electronic vehicle battery costs have decreased in the past few years owing to technological advancements and mass production. As batteries are one of the most expensive components of electronic vehicles, this has significantly decreased the costs. Also, countries worldwide are pledging to reduce vehicle emissions by 2026-2050. As a result, they have started promoting the development and sales of the electronic vehicles market and related charging infrastructure. Increasing global investments in developing EV charging and hydrogen fueling stations and incentives offered to buyers will create opportunities to expand their geographical presence and revenue stream for the global electronic vehicle market. Passenger Vehicles Capture Majority of the Market Shares The passenger vehicle segment consists of vehicles designed to carry up to 9 people, including the driver. Globally there is a rising demand for such vehicles for cab service providers, travel, transport, etc. Therefore, mass producers of electric vehicles highly focus on passenger vehicles, making it the fastest-growing and major end-use segment during the forecast period. One of the primary factors driving robust sales of electric vehicles in many areas has been ongoing regulatory support. Additionally, an increasing number of nations have high goals for the electrification of vehicles, and numerous automakers have plans to electrify their fleets. North America Set to be the Leading Region By 2026 Tax rebate programs, subsidies, and favorable government initiatives for electronic vehicle adoption are expected to drive market growth between 2022 to 2026. Moreover, the cost advantages of electric vehicles over fossil-fuel-run vehicles will also support market growth positively over the forecast period. In addition, battery pack prices decline is also anticipated to create significant growth opportunities for players operating in North America. Growing opportunities and government interest in this industry fuel the global demand for electronic vehicles. All the major players are investing majorly into the electronic vehicle market to increase their presence. Such developments intensify competition in the market. Numerous major players in the market, high investments, R&D efforts etc., are expected to further increase the competition in the market. Request for Customization: https://inkwoodresearch.com/request-for-custom-report/ About Inkwood Research

  3. Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa. Contact Us https://www.inkwoodresearch.com sales@inkwoodresearch.com 1-(857)293-0150 Related Reports: GLOBAL ELECTRIC VEHICLE BATTERY MARKET GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET

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