Global Electric Vehicle Market Insights, Size and Growth Forecast To 2027
Global electric vehicles market likely to propelling due to government incentives and environmental policies and increasing prices of fuel, urging the need for alternative energy-efficient sources. The global electric vehicle market generated USD 165.76 Billion in 2019 and projected to reach USD 811.82 Billion by 2027, registering a CAGR of 18.61%. It is primarily attributed to the governments around the world that have supported and provide financial aids for respective industries to manufacture and innovate with advanced electric models. Additionally, growing concern towards environmental pollution will impact the electric vehicles industry in the future time. Electric vehicles are cleaner than internal combustion engine vehicles over their lifetime; for example, the electric car produces half of the greenhouse gas emissions on an average passenger car. For instance, an electric vehicle is almost 30% cleaner over its life cycle compared to even the most effic...