Electric Vehicle Market Size, Share, Growth Analysis
December 8, 2022 ⚊ 1 Min read ⚊ Views 58 ⚊ BUSINESS
The global electric vehicle market size was valued USD 267.23 billion in 2021 and expected to reach 1318.24 billion by 2028, at a CAGR of 25.2% during 2022-2028. Electric machines, power electronic converters, electric energy sources such as fuel cells and storage devices, and electronic controllers make up plug-in hybrid electric vehicles. Due to electric vehicle market trends also including increasing demand for low-emission vehicles and government encouragement of long-range, zero-emission vehicles through subsidies and tax refunds, automotive manufacturers have been pushed to supply electric Zero Emission vehicles all over the world, which is expected to boost the electric vehicle market size.
Tags: electric vehicle market
