Over the last decade, China has led the race to transition to electric vehicles (EVs). It has been so successful that other countries have made immense progress by adopting its formula: a combination of significant capital investment and a centralized, interventionist approach. This strategy has successfully boosted EV adoption by supporting not only manufacturing, but also nationwide infrastructure development.
China has encouraged the potential of its EV market by gradually introducing financial subsidies in many cities. Thanks to substantial reserves of raw materials for batteries, continuous technological advances, increasingly widespread charging infrastructure, and export efforts by EV manufacturers, China’s EV momentum keeps accelerating.
This article will address the following questions:
As one of the leaders in the EV world, China has successfully expanded its global market share from less than 30% in 2019 to 41.5% in 2022. Its role as the largest EV production base is even stronger, with 7.1 million units, representing 70% of the 2022 global total, made in China.
Within China, EV sales have increased from 16% of the domestic car market in 2021, to 29%, or 6.9 million vehicles, in 2022. The market is segmented into battery-electric and plug-in hybrid electric vehicles. Battery EVs (BEVs) made up nearly 77.9% of sales in 2022. Moreover, there was a remarkable 151.9% YoY surge in plug-in hybrid EV (PHEV) sales.
Currently, passenger cars are more popular than commercial vehicles, accounting for 95.1% of EV sales. The commercial vehicles sector is on the verge of widespread EV adoption, however; more than 30 cities are planning to fully electrify their public transit systems by 2028.
China also dominates the electric two-wheeler and three-wheeler markets. As of 2021, it had 93 million electric two-wheelers, thanks in part to a 2019 technical standard favoring lithium ion batteries. Domestic companies Yadea and Aima account for the majority of lower-end electric scooter sales, followed by Nio. Meanwhile, electric 3-wheelers are popular for goods and service deliveries, accounting for about 90% of urban last-mile deliveries.
The Chinese EV market is projected to continue growing, with an estimated revenue of US $292.1 billion in 2023, and a CAGR of 6.38% from 2023 to 2028. It remains competitive; more than 94 brands offer a total of over 300 EV models at various price points. Domestic brands like BYD lead, with an 81% share, while startups like Xpeng and Nio further intensify competition, solidifying China's EV production dominance.
Like other countries with major EV markets, China is rapidly expanding its EV charging infrastructure; as of August 2022, it accounted for 65% of global public charging points. In May of 2022, China added 87,000 new charging stations, reaching a total of 1.419 million stations.
China aims for a ratio of 14.66 charging points per vehicle by 2025.
China's domestic EV industry is well-developed, with many established manufacturers and an extensive supply chain. This has allowed Chinese companies to produce EVs at a competitive cost, making them attractive to consumers from other countries.
Foreign-brand joint ventures, as well as foreign brands such as Tesla with manufacturing facilities in China, have further contributed to the growth of China’s EV export industry. Some Chinese firms, like Geely, also own foreign-based subsidiaries.
China’s fleet market is segmented into government firms, state-owned businesses, public services, taxis, and long-term rental companies.
In keeping with policy interventions, government and state-owned firms feature lower transaction prices, smaller engines, and increased use of domestic brands, with a mandate for 30% EV adoption.
E-buses and e-trucks are flourishing, constituting over 90% of the global e-bus market in 2021. Top 10 e-truck and e-bus manufacturers hold 70% and 85% market share, demonstrating consolidation through economies of scale.
Major cities like Shenzhen, Chengdu, Zhengzhou, and Tangshan are experiencing high adoption of electric buses and trucks, due to policy-driven preferences. About 9.5% of conventional taxis were electric in 2020, and China’s 14th Five-Year Plan aims for 35% EV representation in the taxi fleet by 2025, with local targets in place.
China has two types of taxis: conventional taxis hailed on the streets, and taxis ordered via apps. Around 9.5% of conventional taxis were electric in 2020, and the 14th Five-Year Plan aims for EVs to represent 35% of the taxi fleet by 2025. Accordingly, many cities have set local targets for taxi fleet electrification.
Thanks to strong government support, China has emerged as a major driving force in the global EV transition. However, China still faces challenges involving making local EV brands more competitive, securing the supply chain for raw materials, and expanding charging infrastructure.
The Chinese government has significantly contributed to EV demand. However, in an attempt to stimulate organic consumer demand, the government gradually canceled subsidies between 2020 and 2022. As a result, battery electric vehicle (BEV) sales temporarily rose as customers rushed to make purchases while subsidies were still in effect, but have since slowed. This decline may not turn out to be a major concern, however; EV manufacturers show signs of successfully adapting to focus on diverse consumer needs in the absence of subsidies.
Intense price competition among 40 carmakers in China led to unprecedented cuts in vehicle prices, negatively impacting gross margins for domestic brands in Q1 2022. Generally speaking, China domestic brands’ gross margin dropped 19% in Q1 of 2022 compared with the previous quarter. In January 2023, Tesla reduced Model 3 and Model Y prices by between 6% to 13.5%, which caused another round of price wars in the domestic market. Trade conflicts and battery resource costs may further erode margins.
As a result, Chinese EV businesses are seeking opportunities abroad. This may come with its own set of obstacles, however, such as other countries’ local protectionism.
Unevenly distributed reserves of raw materials may put the supply chain at risk. China holds a dominant position in global graphite mining, accounting for 82% of the market share and owning nearly 25% of the world's graphite reserves in 2022. However, it has only a 1% share in cobalt mining and reserves. This imbalance poses a risk to the EV battery supply chain; rising costs of battery materials like cobalt, nickel, and lithium could increase battery prices, potentially affecting consumer demand for EVs. Low self-sufficiency in batteries, electric motors, and power semiconductors may pose further problems.
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The Chinese government has been a driving force behind the EV industry, implementing supportive policies for R&D, manufacturing, and marketing since the 1990s. These policies include consumer subsidies, sectoral plans, technical standards, tax credits, and charging infrastructure strategies, as well as the “dual credit” system. Local implementation is fundamentally guided by the same central policies, but varies due to China's diverse political economies and unique circumstances.
China's “Made in China 2025” plan is a national strategy which targets 20% EV sales by 2025. China already surpassed this figure in 2022.
In 2020, China published the New Energy Vehicle Industry Development Plan (2021 – 2035) as a top-level policy to guide the comprehensive integration of new energy vehicles (NEVs) and intelligent connected vehicles (ICVs). The plan involves four principles: market-led development, innovation-driven development, coordinated promotion, and open development. By 2025, China envisions a more competitive EV market, while 2035 sees EVs reaching global standards and advanced charging infrastructure.
China has also proposed comprehensive targets to guide the development of battery and charging infrastructure. The 14th Five-Year Plan prioritizes strategic emerging industries, particularly involving new energy vehicles and batteries; the policy emphasizes EV manufacturing, battery R&D, and nano ion battery industry development.
Meanwhile, a January 2022 announcement revealed plans to establish 20 million EV charging facilities by 2025. Recently, the State Council set five major targets to create a high-quality charging infrastructure system by 2030, aiming for extensive coverage, moderate scale, balanced structure, and optimal functionality to support the growing EV market.
Both state and city governments provide support for researching and developing EV-related technology. For example, as part of China’s Five-Year Plan, the central government offers special funds for innovation, demonstration projects, and application promotion, whereas local governments allocate matching funds for infrastructure and battery recycling. Meanwhile, companies and institutions engaged in EV development are exempt from business tax.
Since China bases its passenger car taxation system on average fuel consumption, EV users also benefit from tax relief. China’s vehicle purchase tax — a one-time tax that is paid when a new vehicle is purchased — is a significant cost, which can be up to 10% of the vehicle's purchase price. Exemption from this tax is a major incentive for EV adoption in China. It makes EVs more affordable for consumers, and it helps to promote the use of cleaner transportation.
In addition to implementing conventional policies and providing financial support, China utilizes a credit system to boost EV production. The International Council for Clean Transportation sets gradually increasing sales targets for domestic auto manufacturers, and enables flexible compliance through carbon-credit trading. Now that sales have surpassed the current 18% benchmark, the Ministry of Industry and Information Technology plans to set higher targets for the future.
To support the EV industry, the government encourages financial institutions to provide credit reviews and diversified financing options to EV manufacturers.
To promote EV adoption, the Chinese government offers purchase grants through central and local rules, granting subsidies of up to RMB 100,000 (approximately USD $15,000) per vehicle. These subsidies are reported to be the second most generous in the world, following Norway. The government further supports electric vehicle sales by offering 2023 tax exemptions on purchases of new energy vehicles.
The Chinese government provides dedicated charging infrastructure subsidies to local governments that meet promotion targets. State Grid and China Southern Power Grid offer favorable treatment to charging station operators, exempting them from "basic charges" based on electricity usage. The basic charge is a predetermined charge based on the capacity of transformers used by significant industrial electricity consumers.
In some cities, like Nanjing and Shanghai, EVs are allowed to bypass traffic congestion by using bus lanes. Several cities are also encouraging public institutions to provide designated EV parking spots, including chargers.
Subsidies and benefits for low-emission public bus fleets contribute to China's optimistic outlook for EV development. The government has provided local governments with annual bus electrification targets, and penalizes noncompliance by reducing oil subsidies, thereby promoting EV bus adoption by increasing operating costs for traditional buses.
China's significant domestic market and well-established technological competitiveness have already positioned it as a top player in the global EV market. With its commitment to achieving net-zero targets by 2060, China is ready to take advantage of new opportunities to further amplify its role in the electric revolution.
The gradual end of financial subsidies may have short-term negative effects on the demand for EVs. The government could counter this potential downturn by providing different or non-financial incentives, such as free license plates, right of way privileges, or tax exemptions.
China could also compensate for the subsidy discontinuations by taking steps to further stimulate its domestic market. For example, it could make EVs more appealing by focusing on research and development to enhance battery technology, charging infrastructure, and autonomous driving capabilities.
As a matter of fact, starting from 2009, subsidies for the EV industry primarily manifested as conventional R&D grants, often channeled through established programs like the long-standing high-tech "863 Program."
Alternatively, it could make EVs more affordable by implementing measures to scale up EV production, optimize the supply chain, and encourage local manufacturing to reduce production costs.
An even stronger target for phasing out ICEs might also be beneficial. Right now, only Hainan Province has announced a complete ban on ICE in the private vehicle sector by 2030; other cities or provinces could follow suit.
Creating an equal investment environment for foreign enterprises entering the Chinese market is also essential.
Due to the increasing number of EVs, China finds itself tackling the challenge of meeting the growing demand for charging infrastructure. China is planning to add over 600,000 charging points in 2023, and to introduce ultra-fast charging stations with 120 – 350 kW capacity. To further strengthen its charging infrastructure, China could attract more investments, and encourage joint ventures. It will also need to focus on expanding infrastructure to inland cities; over 70% of existing charging stations are in coastal areas.
China's thriving EV landscape is partially due to battery innovation, which has enabled the country to surpass its 2025 targets in range and energy consumption. The time is now ripe to implement a new technology target. For example, China could seize the chance to become a leader in achieving better graphite quality for battery production. Alternatively, it could focus on advancements in AI.
Start-ups like Nio are already innovating new features in the premium EV market. China could further accelerate its EV technology and boost its competitive edge by forming joint ventures with, and further opening the market to, global players.
China is strongly committed to achieving 100% electrification of its public transportation system, with many major cities setting clear timelines for this target. By rapidly adopting EV buses, China can open the door to significant advancements in fleet maintenance and management, and can go on to successfully implement smart city strategies.
For example, a centralized system utilizing advanced algorithms to analyze electric bus operations and energy consumption data could efficiently optimize fleet scheduling by monitoring performance and predicting passenger flow.
China leads the global electric vehicle market, thanks to strong government support, improved technology, growing environmental awareness, and commitment to smart city strategies. Battery EVs dominate sales, and China’s net-zero targets drive continuous investment in research and development.
Despite challenges involving transitioning from subsidies to market-driven demand, handling intense price competition, and securing raw materials, China is on the verge of exploring opportunities to promote sustainable demand, develop charging infrastructure, and advance battery technology. With coordination among policymakers, manufacturers, and innovators, China can win the market in the long-term with its thriving and dynamic EV industry.
The rapid growth of China's EV market is driven by a combination of government policies such as subsidies and incentives, heightened environmental awareness, continuous improvements in EV technology, and a strong focus on battery innovation to enhance electric range and energy density.
China’s latest trends in EV technology and infrastructure development include advances in battery capacity, energy density, and charging infrastructure expansion with a focus on ultra-fast charging stations. These developments aim to meet the increasing demand for EVs and facilitate efficient charging options for consumers.
Companies gain multiple advantages from adopting EVs in their fleets in China. Government incentives and tax exemptions encourage fleet electrification, leading to reduced operating costs due to lower fuel expenses. Additionally, adopting EVs aligns with environmental goals, enhancing companies' sustainability image.
Chinese consumers are showing a positive response to the growing availability and benefits of EVs in the market. Due to increased awareness of environmental issues, more consumers are opting for EVs, contributing to rising market demand.
Investment opportunities in China's EV market stem from its large domestic market, technological advancements, and robust government support for the EV industry. However, potential risks exist, including intense competition among manufacturers, supply chain challenges, and uncertainties in government policies, which may impact the market dynamics.
Examine China’s current EV market here.
Discover China’s EV future and its global implications here.
Explore trends in China’s EV landscape here.
Gain insight into China’s EV market here.
Discover the challenges in China’s EV industry here.
Learn how China is leading the way towards global EV dominance here.
1. Executive Summary | Electric Three Wheeler Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyers 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2017 to 2021 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2022 to 2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Vehicle Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Vehicle Type, 2017 to 2021 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Vehicle Type, 2022 to 2032 5.3.1. Passenger Carrier 5.3.2. Load Carrier 5.4. Y-o-Y Growth Trend Analysis By Vehicle Type, 2017 to 2021 5.5. Absolute $ Opportunity Analysis By Vehicle Type, 2022 to 2032 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Power Type 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Power Type, 2017 to 2021 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Power Type, 2022 to 2032 6.3.1. Upto 1000W 6.3.2. 1000W to 1500W 6.3.3. Above 1500W 6.4. Y-o-Y Growth Trend Analysis By Power Type, 2017 to 2021 6.5. Absolute $ Opportunity Analysis By Power Type, 2022 to 2032 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Battery Type 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Battery Type, 2017 to 2021 7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Battery Type, 2022 to 2032 7.3.1. Lithium-ion 7.3.2. Lead Acid 7.4. Y-o-Y Growth Trend Analysis By Battery Type, 2017 to 2021 7.5. Absolute $ Opportunity Analysis By Battery Type, 2022 to 2032 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2017 to 2021 8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2022 to 2032 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. Asia Pacific 8.3.5. Middle East and Africa(MEA) 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 9.2.1. By Country 9.2.1.1. USA 9.2.1.2. Canada 9.2.2. By Vehicle Type 9.2.3. By Power Type 9.2.4. By Battery Type 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Vehicle Type 9.3.3. By Power Type 9.3.4. By Battery Type 9.4. Key Takeaways 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Vehicle Type 10.2.3. By Power Type 10.2.4. By Battery Type 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Vehicle Type 10.3.3. By Power Type 10.3.4. By Battery Type 10.4. Key Takeaways 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. United Kingdom 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Europe 11.2.2. By Vehicle Type 11.2.3. By Power Type 11.2.4. By Battery Type 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Vehicle Type 11.3.3. By Power Type 11.3.4. By Battery Type 11.4. Key Takeaways 12. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 12.2.1. By Country 12.2.1.1. China 12.2.1.2. Japan 12.2.1.3. South Korea 12.2.1.4. Singapore 12.2.1.5. Thailand 12.2.1.6. Indonesia 12.2.1.7. Australia 12.2.1.8. New Zealand 12.2.1.9. Rest of Asia Pacific 12.2.2. By Vehicle Type 12.2.3. By Power Type 12.2.4. By Battery Type 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Vehicle Type 12.3.3. By Power Type 12.3.4. By Battery Type 12.4. Key Takeaways 13. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 13.2.1. By Country 13.2.1.1. GCC Countries 13.2.1.2. South Africa 13.2.1.3. Israel 13.2.1.4. Rest of Middle East and Africa(MEA) 13.2.2. By Vehicle Type 13.2.3. By Power Type 13.2.4. By Battery Type 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Vehicle Type 13.3.3. By Power Type 13.3.4. By Battery Type 13.4. Key Takeaways 14. Key Countries Market Analysis 14.1. USA 14.1.1. Pricing Analysis 14.1.2. Market Share Analysis, 2021 14.1.2.1. By Vehicle Type 14.1.2.2. By Power Type 14.1.2.3. By Battery Type 14.2. Canada 14.2.1. Pricing Analysis 14.2.2. Market Share Analysis, 2021 14.2.2.1. By Vehicle Type 14.2.2.2. By Power Type 14.2.2.3. By Battery Type 14.3. Brazil 14.3.1. Pricing Analysis 14.3.2. Market Share Analysis, 2021 14.3.2.1. By Vehicle Type 14.3.2.2. By Power Type 14.3.2.3. By Battery Type 14.4. Mexico 14.4.1. Pricing Analysis 14.4.2. Market Share Analysis, 2021 14.4.2.1. By Vehicle Type 14.4.2.2. By Power Type 14.4.2.3. By Battery Type 14.5. Germany 14.5.1. Pricing Analysis 14.5.2. Market Share Analysis, 2021 14.5.2.1. By Vehicle Type 14.5.2.2. By Power Type 14.5.2.3. By Battery Type 14.6. United Kingdom 14.6.1. Pricing Analysis 14.6.2. Market Share Analysis, 2021 14.6.2.1. By Vehicle Type 14.6.2.2. By Power Type 14.6.2.3. By Battery Type 14.7. France 14.7.1. Pricing Analysis 14.7.2. Market Share Analysis, 2021 14.7.2.1. By Vehicle Type 14.7.2.2. By Power Type 14.7.2.3. By Battery Type 14.8. Spain 14.8.1. Pricing Analysis 14.8.2. Market Share Analysis, 2021 14.8.2.1. By Vehicle Type 14.8.2.2. By Power Type 14.8.2.3. By Battery Type 14.9. Italy 14.9.1. Pricing Analysis 14.9.2. Market Share Analysis, 2021 14.9.2.1. By Vehicle Type 14.9.2.2. By Power Type 14.9.2.3. By Battery Type 14.10. China 14.10.1. Pricing Analysis 14.10.2. Market Share Analysis, 2021 14.10.2.1. By Vehicle Type 14.10.2.2. By Power Type 14.10.2.3. By Battery Type 14.11. Japan 14.11.1. Pricing Analysis 14.11.2. Market Share Analysis, 2021 14.11.2.1. By Vehicle Type 14.11.2.2. By Power Type 14.11.2.3. By Battery Type 14.12. South Korea 14.12.1. Pricing Analysis 14.12.2. Market Share Analysis, 2021 14.12.2.1. By Vehicle Type 14.12.2.2. By Power Type 14.12.2.3. By Battery Type 14.13. Singapore 14.13.1. Pricing Analysis 14.13.2. Market Share Analysis, 2021 14.13.2.1. By Vehicle Type 14.13.2.2. By Power Type 14.13.2.3. By Battery Type 14.14. Thailand 14.14.1. Pricing Analysis 14.14.2. Market Share Analysis, 2021 14.14.2.1. By Vehicle Type 14.14.2.2. By Power Type 14.14.2.3. By Battery Type 14.15. Indonesia 14.15.1. Pricing Analysis 14.15.2. Market Share Analysis, 2021 14.15.2.1. By Vehicle Type 14.15.2.2. By Power Type 14.15.2.3. By Battery Type 14.16. Australia 14.16.1. Pricing Analysis 14.16.2. Market Share Analysis, 2021 14.16.2.1. By Vehicle Type 14.16.2.2. By Power Type 14.16.2.3. By Battery Type 14.17. New Zealand 14.17.1. Pricing Analysis 14.17.2. Market Share Analysis, 2021 14.17.2.1. By Vehicle Type 14.17.2.2. By Power Type 14.17.2.3. By Battery Type 14.18. GCC Countries 14.18.1. Pricing Analysis 14.18.2. Market Share Analysis, 2021 14.18.2.1. By Vehicle Type 14.18.2.2. By Power Type 14.18.2.3. By Battery Type 14.19. South Africa 14.19.1. Pricing Analysis 14.19.2. Market Share Analysis, 2021 14.19.2.1. By Vehicle Type 14.19.2.2. By Power Type 14.19.2.3. By Battery Type 14.20. Israel 14.20.1. Pricing Analysis 14.20.2. Market Share Analysis, 2021 14.20.2.1. By Vehicle Type 14.20.2.2. By Power Type 14.20.2.3. By Battery Type 15. Market Structure Analysis 15.1. Competition Dashboard 15.2. Competition Benchmarking 15.3. Market Share Analysis of Top Players 15.3.1. By Regional 15.3.2. By Vehicle Type 15.3.3. By Power Type 15.3.4. By Battery Type 16. Competition Analysis 16.1. Competition Deep Dive 16.1.1. Atul Auto Limited 16.1.1.1. Overview 16.1.1.2. Product Portfolio 16.1.1.3. Profitability by Market Segments 16.1.1.4. Sales Footprint 16.1.1.5. Strategy Overview 16.1.1.5.1. Marketing Strategy 16.1.1.5.2. Product Strategy 16.1.1.5.3. Channel Strategy 16.1.2. Lohia Auto Industries 16.1.2.1. Overview 16.1.2.2. Product Portfolio 16.1.2.3. Profitability by Market Segments 16.1.2.4. Sales Footprint 16.1.2.5. Strategy Overview 16.1.2.5.1. Marketing Strategy 16.1.2.5.2. Product Strategy 16.1.2.5.3. Channel Strategy 16.1.3. J.S. Auto Pvt. Ltd. 16.1.3.1. Overview 16.1.3.2. Product Portfolio 16.1.3.3. Profitability by Market Segments 16.1.3.4. Sales Footprint 16.1.3.5. Strategy Overview 16.1.3.5.1. Marketing Strategy 16.1.3.5.2. Product Strategy 16.1.3.5.3. Channel Strategy 16.1.4. Kinetic Green Energy & Power Solutions Ltd. 16.1.4.1. Overview 16.1.4.2. Product Portfolio 16.1.4.3. Profitability by Market Segments 16.1.4.4. Sales Footprint 16.1.4.5. Strategy Overview 16.1.4.5.1. Marketing Strategy 16.1.4.5.2. Product Strategy 16.1.4.5.3. Channel Strategy 16.1.5. Mahindra & Mahindra Ltd. 16.1.5.1. Overview 16.1.5.2. Product Portfolio 16.1.5.3. Profitability by Market Segments 16.1.5.4. Sales Footprint 16.1.5.5. Strategy Overview 16.1.5.5.1. Marketing Strategy 16.1.5.5.2. Product Strategy 16.1.5.5.3. Channel Strategy 16.1.6. Piaggo & C.Spa 16.1.6.1. Overview 16.1.6.2. Product Portfolio 16.1.6.3. Profitability by Market Segments 16.1.6.4. Sales Footprint 16.1.6.5. Strategy Overview 16.1.6.5.1. Marketing Strategy 16.1.6.5.2. Product Strategy 16.1.6.5.3. Channel Strategy 16.1.7. Scooter India Limited 16.1.7.1. Overview 16.1.7.2. Product Portfolio 16.1.7.3. Profitability by Market Segments 16.1.7.4. Sales Footprint 16.1.7.5. Strategy Overview 16.1.7.5.1. Marketing Strategy 16.1.7.5.2. Product Strategy 16.1.7.5.3. Channel Strategy 16.1.8. Terra Motors Corporation 16.1.8.1. Overview 16.1.8.2. Product Portfolio 16.1.8.3. Profitability by Market Segments 16.1.8.4. Sales Footprint 16.1.8.5. Strategy Overview 16.1.8.5.1. Marketing Strategy 16.1.8.5.2. Product Strategy 16.1.8.5.3. Channel Strategy 16.1.9. Bodo Vehcile Group Co. Ltd. 16.1.9.1. Overview 16.1.9.2. Product Portfolio 16.1.9.3. Profitability by Market Segments 16.1.9.4. Sales Footprint 16.1.9.5. Strategy Overview 16.1.9.5.1. Marketing Strategy 16.1.9.5.2. Product Strategy 16.1.9.5.3. Channel Strategy 16.1.10. E-Tuk Factory BV. 16.1.10.1. Overview 16.1.10.2. Product Portfolio 16.1.10.3. Profitability by Market Segments 16.1.10.4. Sales Footprint 16.1.10.5. Strategy Overview 16.1.10.5.1. Marketing Strategy 16.1.10.5.2. Product Strategy 16.1.10.5.3. Channel Strategy 17. Assumptions & Acronyms Used 18. Research Methodology
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Table 1: Global Market Value (US$ Million) Forecast by Region, 2017 to 2032 Table 2: Global Market Volume (Units) Forecast by Region, 2017 to 2032 Table 3: Global Market Value (US$ Million) Forecast by Vehicle Type, 2017 to 2032 Table 4: Global Market Volume (Units) Forecast by Vehicle Type, 2017 to 2032 Table 5: Global Market Value (US$ Million) Forecast by Power Type, 2017 to 2032 Table 6: Global Market Volume (Units) Forecast by Power Type, 2017 to 2032 Table 7: Global Market Value (US$ Million) Forecast by Battery Type, 2017 to 2032 Table 8: Global Market Volume (Units) Forecast by Battery Type, 2017 to 2032 Table 9: North America Market Value (US$ Million) Forecast by Country, 2017 to 2032 Table 10: North America Market Volume (Units) Forecast by Country, 2017 to 2032 Table 11: North America Market Value (US$ Million) Forecast by Vehicle Type, 2017 to 2032 Table 12: North America Market Volume (Units) Forecast by Vehicle Type, 2017 to 2032 Table 13: North America Market Value (US$ Million) Forecast by Power Type, 2017 to 2032 Table 14: North America Market Volume (Units) Forecast by Power Type, 2017 to 2032 Table 15: North America Market Value (US$ Million) Forecast by Battery Type, 2017 to 2032 Table 16: North America Market Volume (Units) Forecast by Battery Type, 2017 to 2032 Table 17: Latin America Market Value (US$ Million) Forecast by Country, 2017 to 2032 Table 18: Latin America Market Volume (Units) Forecast by Country, 2017 to 2032 Table 19: Latin America Market Value (US$ Million) Forecast by Vehicle Type, 2017 to 2032 Table 20: Latin America Market Volume (Units) Forecast by Vehicle Type, 2017 to 2032 Table 21: Latin America Market Value (US$ Million) Forecast by Power Type, 2017 to 2032 Table 22: Latin America Market Volume (Units) Forecast by Power Type, 2017 to 2032 Table 23: Latin America Market Value (US$ Million) Forecast by Battery Type, 2017 to 2032 Table 24: Latin America Market Volume (Units) Forecast by Battery Type, 2017 to 2032 Table 25: Europe Market Value (US$ Million) Forecast by Country, 2017 to 2032 Table 26: Europe Market Volume (Units) Forecast by Country, 2017 to 2032 Table 27: Europe Market Value (US$ Million) Forecast by Vehicle Type, 2017 to 2032 Table 28: Europe Market Volume (Units) Forecast by Vehicle Type, 2017 to 2032 Table 29: Europe Market Value (US$ Million) Forecast by Power Type, 2017 to 2032 Table 30: Europe Market Volume (Units) Forecast by Power Type, 2017 to 2032 Table 31: Europe Market Value (US$ Million) Forecast by Battery Type, 2017 to 2032 Table 32: Europe Market Volume (Units) Forecast by Battery Type, 2017 to 2032 Table 33: Asia Pacific Market Value (US$ Million) Forecast by Country, 2017 to 2032 Table 34: Asia Pacific Market Volume (Units) Forecast by Country, 2017 to 2032 Table 35: Asia Pacific Market Value (US$ Million) Forecast by Vehicle Type, 2017 to 2032 Table 36: Asia Pacific Market Volume (Units) Forecast by Vehicle Type, 2017 to 2032 Table 37: Asia Pacific Market Value (US$ Million) Forecast by Power Type, 2017 to 2032 Table 38: Asia Pacific Market Volume (Units) Forecast by Power Type, 2017 to 2032 Table 39: Asia Pacific Market Value (US$ Million) Forecast by Battery Type, 2017 to 2032 Table 40: Asia Pacific Market Volume (Units) Forecast by Battery Type, 2017 to 2032 Table 41: MEA Market Value (US$ Million) Forecast by Country, 2017 to 2032 Table 42: MEA Market Volume (Units) Forecast by Country, 2017 to 2032 Table 43: MEA Market Value (US$ Million) Forecast by Vehicle Type, 2017 to 2032 Table 44: MEA Market Volume (Units) Forecast by Vehicle Type, 2017 to 2032 Table 45: MEA Market Value (US$ Million) Forecast by Power Type, 2017 to 2032 Table 46: MEA Market Volume (Units) Forecast by Power Type, 2017 to 2032 Table 47: MEA Market Value (US$ Million) Forecast by Battery Type, 2017 to 2032 Table 48: MEA Market Volume (Units) Forecast by Battery Type, 2017 to 2032Nikhil Kaitwade
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Figure 1: Global Market Value (US$ Million) by Vehicle Type, 2022 to 2032 Figure 2: Global Market Value (US$ Million) by Power Type, 2022 to 2032 Figure 3: Global Market Value (US$ Million) by Battery Type, 2022 to 2032 Figure 4: Global Market Value (US$ Million) by Region, 2022 to 2032 Figure 5: Global Market Value (US$ Million) Analysis by Region, 2017 to 2032 Figure 6: Global Market Volume (Units) Analysis by Region, 2017 to 2032 Figure 7: Global Market Value Share (%) and BPS Analysis by Region, 2022 to 2032 Figure 8: Global Market Y-o-Y Growth (%) Projections by Region, 2022 to 2032 Figure 9: Global Market Value (US$ Million) Analysis by Vehicle Type, 2017 to 2032 Figure 10: Global Market Volume (Units) Analysis by Vehicle Type, 2017 to 2032 Figure 11: Global Market Value Share (%) and BPS Analysis by Vehicle Type, 2022 to 2032 Figure 12: Global Market Y-o-Y Growth (%) Projections by Vehicle Type, 2022 to 2032 Figure 13: Global Market Value (US$ Million) Analysis by Power Type, 2017 to 2032 Figure 14: Global Market Volume (Units) Analysis by Power Type, 2017 to 2032 Figure 15: Global Market Value Share (%) and BPS Analysis by Power Type, 2022 to 2032 Figure 16: Global Market Y-o-Y Growth (%) Projections by Power Type, 2022 to 2032 Figure 17: Global Market Value (US$ Million) Analysis by Battery Type, 2017 to 2032 Figure 18: Global Market Volume (Units) Analysis by Battery Type, 2017 to 2032 Figure 19: Global Market Value Share (%) and BPS Analysis by Battery Type, 2022 to 2032 Figure 20: Global Market Y-o-Y Growth (%) Projections by Battery Type, 2022 to 2032 Figure 21: Global Market Attractiveness by Vehicle Type, 2022 to 2032 Figure 22: Global Market Attractiveness by Power Type, 2022 to 2032 Figure 23: Global Market Attractiveness by Battery Type, 2022 to 2032 Figure 24: Global Market Attractiveness by Region, 2022 to 2032 Figure 25: North America Market Value (US$ Million) by Vehicle Type, 2022 to 2032 Figure 26: North America Market Value (US$ Million) by Power Type, 2022 to 2032 Figure 27: North America Market Value (US$ Million) by Battery Type, 2022 to 2032 Figure 28: North America Market Value (US$ Million) by Country, 2022 to 2032 Figure 29: North America Market Value (US$ Million) Analysis by Country, 2017 to 2032 Figure 30: North America Market Volume (Units) Analysis by Country, 2017 to 2032 Figure 31: North America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032 Figure 32: North America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032 Figure 33: North America Market Value (US$ Million) Analysis by Vehicle Type, 2017 to 2032 Figure 34: North America Market Volume (Units) Analysis by Vehicle Type, 2017 to 2032 Figure 35: North America Market Value Share (%) and BPS Analysis by Vehicle Type, 2022 to 2032 Figure 36: North America Market Y-o-Y Growth (%) Projections by Vehicle Type, 2022 to 2032 Figure 37: North America Market Value (US$ Million) Analysis by Power Type, 2017 to 2032 Figure 38: North America Market Volume (Units) Analysis by Power Type, 2017 to 2032 Figure 39: North America Market Value Share (%) and BPS Analysis by Power Type, 2022 to 2032 Figure 40: North America Market Y-o-Y Growth (%) Projections by Power Type, 2022 to 2032 Figure 41: North America Market Value (US$ Million) Analysis by Battery Type, 2017 to 2032 Figure 42: North America Market Volume (Units) Analysis by Battery Type, 2017 to 2032 Figure 43: North America Market Value Share (%) and BPS Analysis by Battery Type, 2022 to 2032 Figure 44: North America Market Y-o-Y Growth (%) Projections by Battery Type, 2022 to 2032 Figure 45: North America Market Attractiveness by Vehicle Type, 2022 to 2032 Figure 46: North America Market Attractiveness by Power Type, 2022 to 2032 Figure 47: North America Market Attractiveness by Battery Type, 2022 to 2032 Figure 48: North America Market Attractiveness by Country, 2022 to 2032 Figure 49: Latin America Market Value (US$ Million) by Vehicle Type, 2022 to 2032 Figure 50: Latin America Market Value (US$ Million) by Power Type, 2022 to 2032 Figure 51: Latin America Market Value (US$ Million) by Battery Type, 2022 to 2032 Figure 52: Latin America Market Value (US$ Million) by Country, 2022 to 2032 Figure 53: Latin America Market Value (US$ Million) Analysis by Country, 2017 to 2032 Figure 54: Latin America Market Volume (Units) Analysis by Country, 2017 to 2032 Figure 55: Latin America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032 Figure 56: Latin America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032 Figure 57: Latin America Market Value (US$ Million) Analysis by Vehicle Type, 2017 to 2032 Figure 58: Latin America Market Volume (Units) Analysis by Vehicle Type, 2017 to 2032 Figure 59: Latin America Market Value Share (%) and BPS Analysis by Vehicle Type, 2022 to 2032 Figure 60: Latin America Market Y-o-Y Growth (%) Projections by Vehicle Type, 2022 to 2032 Figure 61: Latin America Market Value (US$ Million) Analysis by Power Type, 2017 to 2032 Figure 62: Latin America Market Volume (Units) Analysis by Power Type, 2017 to 2032 Figure 63: Latin America Market Value Share (%) and BPS Analysis by Power Type, 2022 to 2032 Figure 64: Latin America Market Y-o-Y Growth (%) Projections by Power Type, 2022 to 2032 Figure 65: Latin America Market Value (US$ Million) Analysis by Battery Type, 2017 to 2032 Figure 66: Latin America Market Volume (Units) Analysis by Battery Type, 2017 to 2032 Figure 67: Latin America Market Value Share (%) and BPS Analysis by Battery Type, 2022 to 2032 Figure 68: Latin America Market Y-o-Y Growth (%) Projections by Battery Type, 2022 to 2032 Figure 69: Latin America Market Attractiveness by Vehicle Type, 2022 to 2032 Figure 70: Latin America Market Attractiveness by Power Type, 2022 to 2032 Figure 71: Latin America Market Attractiveness by Battery Type, 2022 to 2032 Figure 72: Latin America Market Attractiveness by Country, 2022 to 2032 Figure 73: Europe Market Value (US$ Million) by Vehicle Type, 2022 to 2032 Figure 74: Europe Market Value (US$ Million) by Power Type, 2022 to 2032 Figure 75: Europe Market Value (US$ Million) by Battery Type, 2022 to 2032 Figure 76: Europe Market Value (US$ Million) by Country, 2022 to 2032 Figure 77: Europe Market Value (US$ Million) Analysis by Country, 2017 to 2032 Figure 78: Europe Market Volume (Units) Analysis by Country, 2017 to 2032 Figure 79: Europe Market Value Share (%) and BPS Analysis by Country, 2022 to 2032 Figure 80: Europe Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032 Figure 81: Europe Market Value (US$ Million) Analysis by Vehicle Type, 2017 to 2032 Figure 82: Europe Market Volume (Units) Analysis by Vehicle Type, 2017 to 2032 Figure 83: Europe Market Value Share (%) and BPS Analysis by Vehicle Type, 2022 to 2032 Figure 84: Europe Market Y-o-Y Growth (%) Projections by Vehicle Type, 2022 to 2032 Figure 85: Europe Market Value (US$ Million) Analysis by Power Type, 2017 to 2032 Figure 86: Europe Market Volume (Units) Analysis by Power Type, 2017 to 2032 Figure 87: Europe Market Value Share (%) and BPS Analysis by Power Type, 2022 to 2032 Figure 88: Europe Market Y-o-Y Growth (%) Projections by Power Type, 2022 to 2032 Figure 89: Europe Market Value (US$ Million) Analysis by Battery Type, 2017 to 2032 Figure 90: Europe Market Volume (Units) Analysis by Battery Type, 2017 to 2032 Figure 91: Europe Market Value Share (%) and BPS Analysis by Battery Type, 2022 to 2032 Figure 92: Europe Market Y-o-Y Growth (%) Projections by Battery Type, 2022 to 2032 Figure 93: Europe Market Attractiveness by Vehicle Type, 2022 to 2032 Figure 94: Europe Market Attractiveness by Power Type, 2022 to 2032 Figure 95: Europe Market Attractiveness by Battery Type, 2022 to 2032 Figure 96: Europe Market Attractiveness by Country, 2022 to 2032 Figure 97: Asia Pacific Market Value (US$ Million) by Vehicle Type, 2022 to 2032 Figure 98: Asia Pacific Market Value (US$ Million) by Power Type, 2022 to 2032 Figure 99: Asia Pacific Market Value (US$ Million) by Battery Type, 2022 to 2032 Figure 100: Asia Pacific Market Value (US$ Million) by Country, 2022 to 2032 Figure 101: Asia Pacific Market Value (US$ Million) Analysis by Country, 2017 to 2032 Figure 102: Asia Pacific Market Volume (Units) Analysis by Country, 2017 to 2032 Figure 103: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2022 to 2032 Figure 104: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032 Figure 105: Asia Pacific Market Value (US$ Million) Analysis by Vehicle Type, 2017 to 2032 Figure 106: Asia Pacific Market Volume (Units) Analysis by Vehicle Type, 2017 to 2032 Figure 107: Asia Pacific Market Value Share (%) and BPS Analysis by Vehicle Type, 2022 to 2032 Figure 108: Asia Pacific Market Y-o-Y Growth (%) Projections by Vehicle Type, 2022 to 2032 Figure 109: Asia Pacific Market Value (US$ Million) Analysis by Power Type, 2017 to 2032 Figure 110: Asia Pacific Market Volume (Units) Analysis by Power Type, 2017 to 2032 Figure 111: Asia Pacific Market Value Share (%) and BPS Analysis by Power Type, 2022 to 2032 Figure 112: Asia Pacific Market Y-o-Y Growth (%) Projections by Power Type, 2022 to 2032 Figure 113: Asia Pacific Market Value (US$ Million) Analysis by Battery Type, 2017 to 2032 Figure 114: Asia Pacific Market Volume (Units) Analysis by Battery Type, 2017 to 2032 Figure 115: Asia Pacific Market Value Share (%) and BPS Analysis by Battery Type, 2022 to 2032 Figure 116: Asia Pacific Market Y-o-Y Growth (%) Projections by Battery Type, 2022 to 2032 Figure 117: Asia Pacific Market Attractiveness by Vehicle Type, 2022 to 2032 Figure 118: Asia Pacific Market Attractiveness by Power Type, 2022 to 2032 Figure 119: Asia Pacific Market Attractiveness by Battery Type, 2022 to 2032 Figure 120: Asia Pacific Market Attractiveness by Country, 2022 to 2032 Figure 121: MEA Market Value (US$ Million) by Vehicle Type, 2022 to 2032 Figure 122: MEA Market Value (US$ Million) by Power Type, 2022 to 2032 Figure 123: MEA Market Value (US$ Million) by Battery Type, 2022 to 2032 Figure 124: MEA Market Value (US$ Million) by Country, 2022 to 2032 Figure 125: MEA Market Value (US$ Million) Analysis by Country, 2017 to 2032 Figure 126: MEA Market Volume (Units) Analysis by Country, 2017 to 2032 Figure 127: MEA Market Value Share (%) and BPS Analysis by Country, 2022 to 2032 Figure 128: MEA Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032 Figure 129: MEA Market Value (US$ Million) Analysis by Vehicle Type, 2017 to 2032 Figure 130: MEA Market Volume (Units) Analysis by Vehicle Type, 2017 to 2032 Figure 131: MEA Market Value Share (%) and BPS Analysis by Vehicle Type, 2022 to 2032 Figure 132: MEA Market Y-o-Y Growth (%) Projections by Vehicle Type, 2022 to 2032 Figure 133: MEA Market Value (US$ Million) Analysis by Power Type, 2017 to 2032 Figure 134: MEA Market Volume (Units) Analysis by Power Type, 2017 to 2032 Figure 135: MEA Market Value Share (%) and BPS Analysis by Power Type, 2022 to 2032 Figure 136: MEA Market Y-o-Y Growth (%) Projections by Power Type, 2022 to 2032 Figure 137: MEA Market Value (US$ Million) Analysis by Battery Type, 2017 to 2032 Figure 138: MEA Market Volume (Units) Analysis by Battery Type, 2017 to 2032 Figure 139: MEA Market Value Share (%) and BPS Analysis by Battery Type, 2022 to 2032 Figure 140: MEA Market Y-o-Y Growth (%) Projections by Battery Type, 2022 to 2032 Figure 141: MEA Market Attractiveness by Vehicle Type, 2022 to 2032 Figure 142: MEA Market Attractiveness by Power Type, 2022 to 2032 Figure 143: MEA Market Attractiveness by Battery Type, 2022 to 2032 Figure 144: MEA Market Attractiveness by Country, 2022 to 2032
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