Dublin, Feb. 01, 2023 (GLOBE NEWSWIRE) — The

“Electric Vehicle Market by Vehicle Components, by Vehicle Type, by Class, by Top Speed, by Drive Type, By Charging Point Type, Vehicle Connectivity, By Propulsion Type, By End User – Global Opportunity Analysis And Industry Forecast, 2022-2030”

report has been added to

ResearchAndMarkets.com’s

offering.

Electric Vehicle Market size was valued at USD 273.4 billion in 2021 and is predicted to reach USD 1869.9 billion by 2030 at a CAGR of 24.3% during the forecast period, 2022-2030.

The demand for electric vehicles has increased worldwide due to their mileage, high performance, and reduced cost of electric vehicle batteries. Tax rebates, and non-financial benefits, including new car registration, carpool lane access, increase in vehicle range, and active participation of OEMs, are factors that boost the growth of the EV industry.

However, the scarcity of EV charging stations in common areas across the world, along with inadequate standardization of EV charging infrastructure that increased the installation cost of charging stations, hampers the electric vehicle market. On the contrary, technological advancements, such as vehicle-to-grid (V2G) systems and self-driving EVs, are expected to create ample opportunities for the key players operating in the electric vehicle market…