Global Electric Mobility Market Companies, Size To 2030

(MENAFN- Straits Research) Electric mobility employs one or more electric motors for propulsion. This transportation method can accommodate short journeys with light loads and longer journeys with heavier loads. Electric mobility, also called e-Mobility, enables the electric propulsion of automobiles and fleets via electric powertrain techniques, in-vehicle information and communication technologies, and connected infrastructures. One of the most inherent benefits of electric mobility is that it improves people's quality of life by not emitting harmful gases. In contrast, electric vehicles lack internal combustion engines, so they do not contribute to the emission of tonnes of greenhouse gases. This contributes to the fight against climate change's effects.
Concerns regarding the ever-increasing greenhouse gas emissions and ultimate impact on the environment of the automotive and transportation industry are driving the rapid expansion of the global electric mobility market. To reduce the environmental damage caused by automobiles, the automotive industry is moving toward eco-friendlier and emission-free technologies. In addition, regulators and policymakers around the globe are taking the necessary steps to increase the adoption of electric vehicles and to promote the expansion of the charging infrastructure required to power these vehicles.
Market Dynamics
The Growing Demand for Emission-Free Vehicles and Support for the Development of Electric Mobility to Drive the Global Market
Governments in many nations are enforcing increasingly stringent regulations concerning greenhouse gas emissions. Due to the substantial increase in greenhouse gas (GHG) emissions and the carbon footprint left by the transportation sector, particularly the automobile industry, regulatory bodies in several nations have been urged to enact policies and laws that encourage the adoption of energy-efficient vehicles. The standards were created to reduce carbon emissions and combat climate change. In addition, both developing and developed economies are in the process of implementing policies about conventional fuel-powered vehicles. Consequently, the market for electric mobility will expand further.
Governments worldwide are investing in developing electric vehicle charging infrastructure to facilitate the adoption of electric vehicles. This is in addition to the subsidies and tax breaks offered to vehicle purchasers and manufacturers. To increase the number of people in India who own electric vehicles, the Indian government has recently announced tax incentives for purchasing electric vehicles. Similar to the governments of many other countries around the world, the government of India is in the process of implementing new regulations with the ultimate goal of eliminating vehicles powered by internal combustion engines and drastically reducing their production volume.
Buyers of electric vehicles in Germany who purchase a vehicle with a list price of USD 48,000 or less are eligible for a subsidy of USD 10,800. Adopting similar policies in other European nations will undoubtedly hasten the transition to battery-powered vehicles soon. In addition to tax breaks or subsidies offered to buyers and automakers, governments are also encouraging the development of the necessary charging infrastructure to make adopting electric vehicles more convenient. This is part of their effort to increase the availability of electric vehicles. Consequently, increasing the market's growth potential for electric mobility.
Regional Insights
Asia-Pacific will likely hold most of the market share during the forecast period. China, Japan, and South Korea dominate the Asia-Pacific market for electric vehicles. China dominates the region's electric mobility market as the world's largest producer and consumer of electric vehicles. The country's government has taken steps such as providing subsidies to EV buyers, mandating that all vehicle manufacturers produce EVs proportionally to the number of vehicles they produce, providing substantial support for installing EV charging stations in major cities, and enacting regulations against vehicles that emit excessive amounts of pollution.
Japan and South Korea's EV markets have also been expanding. Their authorities have boosted the growth of EV demand by implementing charging stations, establishing emission standards, and establishing deadlines for switching to a total or hybrid electric vehicle and mobilities. India is also attempting to expand its market demand for electric vehicles. The new vehicle scrappage policy, which allows for the disposal of old vehicles in exchange for the purchase of low-emission vehicles, and other forthcoming policies will help the country become the region's fastest-growing market for electric vehicles in the coming years. Thailand, Indonesia, Malaysia, and Vietnam have also begun efforts to reduce vehicle emissions and transition to electric mobility.
It is anticipated that rapid development and expansion of the Pan-European battery charging network for battery electric vehicles or BEVs will facilitate the adoption of BEVs in European countries, making Europe the region with the highest CAGR. EU member states, including Denmark, France, Ireland, and the Netherlands, have restricted the sale of new diesel and gasoline-powered vehicles by 2030. These initiatives are anticipated to advance the region's electric mobility industry. Due to stringent government regulations regarding harmful gas emissions, the region is observing a rise in the number of policies and incentives for purchasing new electric vehicles and mobility devices, as well as a shift in citizen preference toward electric mobility.
Key Highlights

The global electric mobility market had a share of USD 223.11 billion in 2021, which is anticipated to reach USD 1,108 billion, growing at a CAGR of 21.5% during the forecast period.
Based on the product, the electric car is expected to hold the largest market share during the forecast period.
Based on battery, Li-ion battery will hold the largest share during the forecast period.
Based on voltage, the 24V electric mobility segment is expected to hold the largest market share during the forecast period.
Based on regional analysis, Asia-Pacific will likely hold most of the market share during the forecast period.

Competitive Players in the Market

Tesla Inc.
Nissan Motor Corporation
BMW MOTORRAD
General Motors Company
Honda Motor Company, Ltd.
BYD Company Ltd.
Accell Group
Volkswagen AG
Zero Motorcycles, Inc.
Ford Motor Company

Market News

In 2022, Tesla Inc. re-introduced their Plaid Track Mode on their Model S Plaid vehicles in North America.
In 2022, Nissan Motor Corporation unveiled the Nissan Z Racing Concept race cars 230 and 244.
In 2022, General Motors Company and Red Hat Inc. announced a collaboration to help advance software-defined vehicles at the edge.

Global Electric Mobility Market: Segmentation
By Product

Electric Scooter
Electric Bicycle
Electric Skateboard
Electric Motorcycle
Electric Car
Electric Wheelchair

By Voltage

Less Than 24V
24V
36V
48V
Greater than 48V

By Battery

Sealed Lead Acid
NiMH
Li-ion

By Region

North America
Europe
Asia-Pacific
Middle-East & Africa
Latin America

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