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Report ID: SQMIG20V2006
Report ID:
SQMIG20V2006 |
Region:
Global |
Published Date: August, 2024
Pages:
202
|
Tables:
62 |
Figures:
77
More than 60% of all electric vehicle sales worldwide in 2022 were in the Asia-Pacific region, with China alone accounting for 41% of those sales. In addition, the study notes that the Asia Pacific region is anticipated to maintain its dominance in the global market during the projected period because of the favourable government regulations and rising demand for environmentally friendly automobiles in the region. According to the International Energy Agency (IEA), China has the largest electric car market in the world, with more than 5.92 million electric vehicles shipped there in 2022.
Market conditions in North America have significantly improved. A competitive advantage in terms of logistics assistance is provided by developed nations like the United States, Canada, and Germany, which have made considerable advancements in public transportation and logistics. By 2029, the North American market for electric commercial vehicles is expected to have grown to US$ 107.62 billion from its estimated value of US$ 11.76 billion in 2022. According to forecasts, the market for electric commercial vehicles will expand at a CAGR of 37.2%.
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Report ID: SQMIG20V2006