New Energy Vehicles Market By Energy Type (Battery Electric Vehicle, Plug-In Hybrid Electric Vehicles, Fuel Cell Electric Vehicle), By Vehicle Type (Passenger Cars, Buses, Industrial Vehicles, Scooters) - Growth, Future Prospects And Competitive Analysis 2015 - 2025

New energy vehicles (NEVs) encompass various automotive four-wheelers and two-wheelers that make use of an alternative fuel source as opposed to conventional oil and gas. The new energy vehicles make use of electric motors, which can run on electricity either stored in a battery, generated during braking and general running, or created using a hydrogen fuel cell. Furthermore, depending on the product offering, these vehicles can be standalone or hybrid. Thereby, these vehicles can be classified into battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell electric vehicles (FCEVs). BEVs are essentially vehicles that only run on an electric motor powered by electricity stored in a large battery cell in the vehicle.

Thereby, these vehicles offer a long driving range with practically zero emissions, and they can be charged at various public charging stations or at home. PHEVs combine the advantages of a traditional combustion engine with an additional electric motor. The electric motor in the PHEVs is powered by a battery, which gets charged during the general running and braking of the vehicle; additionally, the battery can be charged separately for long runs. FCEVs use the same electric motors as BEVs; however, they differ in terms of how they generate electricity. The FCEVs make use of fuel cells, which are filled with hydrogen and combine with atmospheric oxygen to produce electricity and water as a byproduct. These vehicles can be easily charged at hydrogen fueling stations and offer a similar driving range as BEVs.

Rising environmental concerns and a growing demand for pollution-free and energy-efficient transportation solutions have led to increasing demand for new energy vehicles across the world. Some of the leading markets across the world have witnessed a growing demand for various types of NEVs, such as passenger cars, buses, industrial vehicles, scooters, and other low-velocity neighborhood cars, golf carts, and personal mobility vehicles, among others.

Depending on various government initiatives and existing infrastructure, these types of vehicles have witnessed a varied rate of adoption in different countries. However, with increasing investments in new energy vehicle production and favorable government policies, the overall NEV market is expected to witness significant growth during the forecast period.

The report titled "Global New Energy Vehicles Market: Growth, Future Prospects, and Competitive Analysis, 2017–2025" offers strategic insights into the global new energy vehicles market along with the market size and estimates for the duration of 2015–2025. The said research study covers an in-depth analysis of multiple market segments based on energy type and vehicle type and a cross-sectional study across different geographies and sub-geographies.

The study covers the comparative analysis of different segments for the years 2016 and 2025. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities. In addition, the report covers a section providing production trends and sales in some of the major markets.

In order to help strategic decision-makers, the report also includes competitive profiling of the leading providers of new energy vehicles, market positioning, and key developments. Some of the major players profiled in the report are Renault-Nissan Alliance, Mitsubishi Motors Corporation, General Motors Company, Toyota Motor Corporation, Ford Motor Company, BMW Group, Zhejiang Geely Holding Group Co., Ltd., BAIC Motor Corporation, Ltd., Volkswagen Group, BYD Auto Co., Ltd., Tesla, Inc., SAIC Motor Corporation Limited, China Anhui Jianghuai Automobile Co., Ltd. (JAC Motors), Motrec International, Inc., Taylor-Dunn Manufacturing Company, Karrimor EV, and Bradshaw Electric Vehicles.

Other in-depth analysis provided in the report includes:

• Current and future market trends to justify the forthcoming attractive markets within the new energy vehicle industry
• Market fuelers, market impediments, and their impact on market growth
• in-depth competitive environment analysis
• Trailing 2-year market size data (2015–2016)
• SRC (Segment, Region, Country) Analysis

Overall, the research study provides a holistic view of the global new energy vehicle market, offering market size and estimates for the period from 2017 to 2025, keeping in mind the above-mentioned factors.

The global new energy vehicle (NEV) market is segmented, based on energy type, into the following categories:

• Battery Electric Vehicles (BEVs)
• Plug-in Hybrid Electric Vehicles (PHEVs)
• Fuel Cell Electric Vehicles (FCEVs)

In 2016, the battery electric vehicles (BEVs) segment was the largest contributor in the global new energy vehicles (NEV) market in terms of both production and sales revenue. The BEVs are widely used in various applications, such as general commutes, warehouse operations, handling, and neighborhood transport. Thereby, the BEV segment is expected to maintain its dominance throughout the forecast period from 2017 to 2025.

On account of ongoing technological advancements in fuel cell technology, fuel cell electric vehicles (FCEVs) are expected to witness the fastest growth. Despite immense growth during the forecast period, the FCEVs segment is not expected to have a significant impact as compared to the BEVs and PHEVs segments in the overall NEVs market.

The global new energy vehicles (NEVs) market has been segmented on the basis of geographical regions, as per the following regions and countries:

• North America
• U.S.
• rest of North America
• Europe
• U.K.
• Germany
• France
• Rest of Europe
• Asia Pacific
• Japan
• China
• Rest of Asia Pacific
• Rest of the World (RoW)
• Middle East and Africa (MEA)
• Latin America

In 2016, Asia Pacific dominated the overall new energy vehicle (NEV) market across the world. The segment contributed to more than half of the total revenue generated globally in 2016. With the increasing demand for energy-efficient vehicles with near-zero emissions in China, the overall Asia-Pacific market is expected to witness tremendous growth during the forecast period despite being the largest market currently.

Europe and North America followed Asia Pacific in the overall NEV market in terms of revenue in 2016. With ongoing charging station installations in key countries such as the United States, United Kingdom, Germany, and France, among others, these regions are expected to see increased adoption of NEVs in the coming years. 

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