Global New Energy Vehicle (NEV) Market to reach USD 173.37 billion by 2027.Global New Energy Vehicle (NEV) Market is valued at approximately USD 151.95 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 1.9 % over the forecast period 2021-2027. New Energy Vehicle (NEV) involves the use of energy capable of being powered solely by electricity or from natural gas, coal, nuclear energy, wind energy, hydropower, and solar energy. Growing adoption of AI and 5G technology, rising government initiatives and investment in the AID Market has led to the adoption of New Energy Vehicle (NEV) across the forecast period. For Instance: According to the International 5G Data Association, European Union and South Korea have signed a pact to work together on 5G technology, both the parties pledged to provide US$ 782 million and US$ 1.5 billion respectively to fund local 5G projects. Also, with the increasing environmental regulations in developed and developing countries, the adoption & demand for New Energy Vehicle (NEV) is likely to increase the market growth during the forecast period. However, lack of uninterrupted internal connectivity impedes the growth of the market over the forecast period of 2021-2027.

The key regions considered for the global New Energy Vehicle (NEV) market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the significant region across the world in terms of market share owing to the large emission control measures. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027. Factors such as rising initiatives in the country as Make in India Program would create lucrative growth prospects for the New Energy Vehicle (NEV) market across Asia-Pacific region.

Major market players included in this report are:
Jac Motors
Tesla INC
BYD
Uber Technologies
Anhui Jinghui Automobile co Ltd
Daimler AG
Bejiing Automotive industry
Lyft INC
Baidu
Amazon
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Vehicle:
Passengers Cars
Commercial Vehicle
By Type:
Battery Electric
Hybrid
Plug in Hybrid Electric
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global New Energy Vehicle (NEV) Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors