According to a new market report published by Credence Research Inc. “Electric
Vehicle Market – Growth, Share, Opportunities,
Competitive Analysis, and Forecast 2016 – 2022,” the global electric
vehicle market is expected to witness double digit growth with flexible credit
policies and governments’ efforts to reduce CO2 emission in developed and developing
nations.
Countries across the world are feeling heat from increasing
economic burden to increasing fuel prices. Governments of developed and
developing economies are looking forward to reduce their economic burden by
reducing fuel consumption in respective countries. In order to achieve this,
countries across the world are promoting the use of electric vehicles. In
addition, several countries have introduced stringent emission control
regulation to reduce greenhouse gas effect and CO2 emission. All these factors
are supporting the demand for electric vehicles across the world. High price of
electric vehicle is limiting the growth of electric vehicles market. However,
some countries have introduced flexible credit policies for purchase of new
electric vehicle which is expected to overcome this market challenge.
Browse Full Report At: http://www.credenceresearch.com/report/electric-vehicles-market
The market electric vehicle market was dominated hybrid electric
vehicles in 2015 and is expected to maintain its dominance through the forecast
period 2016 – 2022. Hybrid vehicle reduces fuel consumption by 20% to 30%. In
addition, hybrid electric vehicle significantly reduces CO2 consumption and
greenhouse gasses. Increasing fuel prices and mandatory policies to reduce
greenhouse gases (GHG) are also expected to propel the demand for hybrid
electric vehicles across the world. The sale of plug-in electric vehicle grew
rapidly in the last five years (2011 – 2015) with cost reduction, technology
development, introduction of several models, and increase in charging stations.
Electric vehicles are gaining recognition in the United States, Europe, Japan
and some developed countries in Asia Pacific due to strong government support
with introduction of credit policies for new electric vehicles and vehicle fuel
efficiency regulations.
Industry competition is growing steadily with as automakers
across the world are looking to enter in this potential market. Automobile
manufacturers are focusing on developing advanced models at competitive prices
will increase the choices for consumer which is further expected to spur the
demand for electric vehicles across the world. Some major players in the global
market includes Nissan Motor Corp, Chevrolet, Tesla Motor Inc, Toyota Motor
Corporation, The Ford Motor Company, Bayerische Motoren Werke AG, Volkswagen
AG, Honda Motor Co Ltd, AB Volvo, Toyota Motor Corporation and others.
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associations, and not-for-benefits. We offer our customers some assistance with
making enduring enhancements to their execution and understand their most
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