TechNavio today launched its Global Electric Vehicle (EV) Market 2011“2015 report based on an in-depth study covering the Americas, and the EMEA and APAC regions. The report aims to aid decision makers™ understanding of the present and the future landscape of the market.
Commenting on the report, an analyst from TechNavio™s Clean Tech team said; The recent surge in the production of EVs in various countries is one of the most significant trends observed in the Global EV market. For instance, in its twelfth five-year plan, the Chinese Government mentioned its plans to increase the production of EVs in the country to boost the growth of the Renewable Energy industry. The EV market in the US, on the other hand, is witnessing the formation of partnerships aimed at expanding the market at a rapid pace. The limited oil supply in the US is also forcing the Government to rely on EVs.
According to the report, the scarcity of oil reserves is one of the major factors inducing the growth of the Global EV market. The main reasons for oil scarcity are the rapid oil demand from the emerging economies and a simultaneous decline in the oil supply. This shortage of oil reserves and the increasing demand for vehicle fuels are inducing various countries to discover alternative ways to reduce dependence on oil. As a result, various governments are funding and subsidizing EV and equipment manufacturers to increase the adoption of EVs. Consequently, this increase in the scarcity of oil becomes one of the major driving factors for the Global EV market.
Further, the report also discusses that the lack of proper battery range is one of the significant barriers to the growth of the Global EV market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key players.
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic reports on niche and emerging technologies. For further information, please visit https://www.technavio.com/content/global-electric-vehicle-market-2011-2015
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TechNavio Announces the Publication of its Report “ Global Electric Vehicle Market 2011“2015
