Key vendors to attract maximum sales focus on increasing geographical market presence
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global electric vehicle market in their latest research report. This report also lists 4 other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated through a bottom-up approach, which accounts for total units of top EVs sold per annum globally.
This Technavio report, under automotive manufacturing vertical, is based on the synthesis, analysis, and interpretation of information about the global electric vehicle market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The global EV market is dominated by some of the key vendors such as GM, Nissan, BMW, Tesla Motors and Renault, who collectively occupy more than 60% market shares. The competition between the manufacturers is increasing due to the promising large volumes of sales in new markets across the globe. Such growth opportunities have propelled market vendors to increase their geographical presence and product portfolios across the globe to attract maximum sales.
“Many developing countries, such as Indonesia and India, are coming up with aggressive policies to attract global EV suppliers. Besides concentrating on established markets to increase market share during the forecast period, the EV manufacturers must focus on entering new aggressive markets. Such shift towards developed economies will not only benefit the global players in extending their reach but will also help the local players to establish themselves in the global market,” says Siddarth Jaiswal, a lead analyst at Technavio for research on automotive manufacturing.
Top five vendors in the electric vehicle market space
BMW
BMW, along with its subsidiaries, manufactures, develops, designs, and sells cars, motorcycles, accessories, and components globally. The automotive segment of BMW provides cars and off-road vehicles under the brand names BMW, MINI, and Rolls-Royce. It also provides spare parts and accessories. The other segments include business categories such as financial services and motorcycles. BMW emphases on utilizing lightweight construction materials for electrically powered cars to compensate for the added weight of the electrical components. The company also intends to reduce carbon emissions from its fleet vehicles by installing highly efficient engines and electrified drivetrain systems.
Key products: i3 and i3 (EREV).
GM
GM is a US-based company, which along with its subsidiaries, manufactures and markets a wide range of trucks, cars, and automobile parts and components globally. It also provides automotive financing services through its US-based subsidiary, GM Financial. It can be categorized in different segments such as GMNA, GME, GMIO, and GMSA. Each segment concentrates on specific sections of manufacturing an automobile. GM in the EV market is focusing on developing innovative technologies such as AFV to conventional powertrains, including flex-fuel vehicles that run-on gasoline-ethanol blend fuels. The company also focuses on investing in R&D of eAssist, plug-in hybrid, extended range, and battery electric vehicles by using its patented PHEV technology.
Key products: Volt (EREV), Bolt EV, and Spark EV.
Nissan Motor
Nissan Motor company is a Japanese multinational automaker and is a part of Renault-Nissan Alliance, a partnership between Nissan and French automaker Renault since 1999. This alliance makes them the fifth largest automaker globally and leading automaker in China. Nissan also sells cars under the brands Datsun, Infiniti (luxury brand), and Nismo. It offers marine products, transmissions, component parts, automobiles, axles, industrial equipment engines, and electronic devices. Moreover, it also assists in sales financing such as auto credit and car leasing, insurance agency, and inventory finance services. In 2010, Nissan introduced the Nissan Leaf as the first mass production all-EV in market, launched globally. Nissan is one of the top automakers to develop the concept vehicles, more than 16 in last 12 years. The company is expected to achieve a one million unit sales of hybrid and EVs by 2020 making them one of the top five automakers globally.
Key products: Leaf S and Leaf SV.
Renault
Renault manufactures and designs automobile and markets by the brands Dacia, Renault, and Renault Samsung motors. The company also provides financial services. The company’s revenue grew mainly because of the performance of the European market. The company announces its plans for a joint venture with Dongfeng Motor, a Chinese car maker, to produce multiple-purpose vehicles and engines. With a total investment for the joint venture, having reached $1 billion, it is set to produce 150,000 multi-purpose vehicles and engines annually.
Key products: Zoe
Tesla Motors
Tesla Motors manufactures and markets EVs, EV powertrain components, and stationary energy storage systems. The company also offers development services to produce electric EV powertrain components and systems and markets its products through a network of Tesla galleries and stores and the Internet. Its total revenue comprises of two segmentation which include automotive sales and development services. The company’s technology includes charge balancing systems, safety systems, cooling systems, and robotic manufacturing processes. The firm sells high-performance fully EV, advanced EV powertrain components, and stationary energy storage systems.
Key products: Model S, Model X, and Model 3.
Other prominent vendors in this market include BYD, Ford, Kia, and Volkswagen.
A more detailed analysis is available in the Technavio report, ‘Global Electric Vehicle Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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Browse related reports:
- Global Hybrid Electric Vehicle Market 2016-2020
- Global Micro Electric Vehicle Market 2016-2020
- Global Marine Electric Vehicles Market 2016-2020
- Electric Vehicle (EV) Market in the US 2015-2019
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