United Arab Emirates Hybrid and Electric Vehicles Market Size
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2030 |
|
Base Year For Estimation | 2023 |
|
|
Market Size (2024) | USD 2.21 Billion |
|
|
Market Size (2030) | USD 9.03 Billion |
|
|
CAGR (2024 - 2030) | 26.48 % |
|
|
Market Concentration | High |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in alphabetical order. |
United Arab Emirates Hybrid and Electric Vehicles Market Analysis
The United Arab Emirates Hybrid and Electric Vehicles Market size is estimated at 2.21 billion USD in 2024, and is expected to reach 9.03 billion USD by 2030, growing at a CAGR of 26.48% during the forecast period (2024-2030).
2.21 Billion
Market Size in 2024 (USD)
9.03 Billion
Market Size in 2030 (USD)
48.32 %
CAGR (2017-2023)
26.48 %
CAGR (2024-2030)
Fastest-growing Segment by Vehicle Body Type
35.84 %
value share, Sedan, 2023
Sedans typically offer a balance of comfort, performance, and affordability, making them an attractive option for a wide range of consumers.
Largest Segment by Fuel Category
52.81 %
value share, HEV, 2023
HEVs dominate due to their fuel efficiency, ability to switch between electric and combustion power, and strong government support for sustainable transportation in the UAE.
Fastest-growing Segment by Fuel Category
34.94 %
Projected CAGR, BEV, 2024-2030
BEVs are the fastest-growing segment due to significant government incentives, expanding charging infrastructure, and increasing consumer awareness of environmental benefits.
Leading Market Player
58.13 %
market share, Toyota Motor Corporation, 2023
Diversified product portfolio offerings, high production capabilities, and extensive supply chain network and strong brand value marks Toyota as the leader in UAE Hybrid and Electric Vehicles Market
Second leading Market Player
11.87 %
market share, Hyundai Motor Company, 2023
Hyundai Motor Company is a key player due to its innovative hybrid and electric vehicle technology, strong brand presence, and commitment to expanding its market share in the UAE.
The market is growing in line with the UAE's vision to incorporate hybrid and electric vehicles across segments, supporting its sustainability and technological advancement goals
- The United Arab Emirates is emerging as a leading sustainable transportation hub in the Middle East, witnessing a notable surge in the market for hybrid and electric vehicles (HEVs and EVs). Within these markets, the passenger car segment takes the lead, reflecting a rising consumer preference for eco-friendly and energy-efficient rides.
- Government initiatives, including incentives for green vehicles, widespread charging station installations, and reduced fees for electric car registration, have bolstered the market. Notably, luxury electric sedans and SUVs are gaining significant traction, resonating with the United Arab Emirates' penchant for high-end automobiles. Hybrid vehicles are also finding favor, serving as a transitional choice for consumers seeking to reduce their carbon footprint without fully committing to electric variants.
- The commercial segment is gradually embracing hybrid and electric technologies, with a particular emphasis on logistics and public transportation. As part of its sustainable urban development vision, the United Arab Emirates is electrifying its public bus fleets and introducing electric taxis. For commercial fleets, the adoption of HEVs and EVs is driven by factors like cost savings, corporate sustainability goals, and compliance with emerging environmental regulations. However, the growth of this segment hinges on the expansion of charging infrastructure and targeted government incentives for commercial operators. Additionally, electric two-wheelers, such as scooters and motorcycles, are gaining popularity in urban centers, where traffic congestion and parking challenges make them an appealing choice for short commutes.
Understand The Key Trends Shaping This Market
Download PDF
United Arab Emirates Hybrid and Electric Vehicles Market Trends
The United Arab Emirates demonstrates consistent growth in electric vehicle adoption across all segments
- In the United Arab Emirates, from 2022 to 2023, there was a notable surge in the shift toward electric vehicles (EVs) across various segments. In the passenger car industry, the adoption of electric models jumped from 2% in 2022 to 4% in 2023. Light commercial vehicles (LCVs) witnessed a more significant leap, with the share of electric LCVs rising from 0.20% in 2022 to 1.09% in 2023. The medium and heavy-duty truck (M&HDT) category, starting at 0% in 2022, witnessed a modest uptick to 0.10% in 2023. Buses, too, exhibited a consistent climb, with the electrification rate rising from 0.50% in 2022 to 1.96% in 2023.
- From 2017 to 2022, the UAE witnessed a gradual but notable surge in EV adoption across all vehicle categories. The share of electric passenger cars rose from 2% in 2017 to 5% in 2022. LCVs, starting at a modest 0.20% in 2017, accelerated to 1.98% by 2022. The M&HDT segment, previously stagnant, began its electrification journey in 2022, reaching 0.10%. Buses maintained a steady upward trajectory, climbing from 0.50% in 2017 to 3.42% in 2022. The two-wheeler segment witnessed a significant surge, with electric two-wheelers accounting for 1.50% in 2017 and soaring to 7.81% by 2022.
- In 2030, projections indicate a consistent and robust growth in EV adoption in the United Arab Emirates. By 2030, passenger cars are expected to have an electrification rate of 12%. The LCV segment is projected to reach 6.00% by 2030. After its initial phase, the M&HDT category is anticipated to hit 4.00% by 2030. Buses are on track for a 10.00% electrification rate by 2030, while the two-wheeler segment, displaying the most rapid growth, is poised to reach a significant 22.00% by 2030.
Understand The Key Trends Shaping This Market
Download PDF
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The UAE's population is booming, driven by factors like an influx of expatriates and a thriving economy
- In the United Arab Emirates, CVP was set to slightly decrease in 2023 after a surge in 2022, reflecting economic recovery and government initiatives
- The UAE's auto interest rate surged significantly, reflecting adaptive financial measures in response to changing economic conditions
- The UAE is undergoing a significant shift toward sustainable mobility, with a marked expansion in its EV charging infrastructure from 2022 to 2023 and beyond
- During 2024-2030, the UAE's automotive electrification journey is expected to showcase a strong start in passenger cars and LCVs, with a decline in later years
- Increasing fuel subsidies for low-income households, such as a USD 7.62 billion allocation to a social support program, supporting the market
- The UAE's GDP per capita is projected to rise by 2030, driven by sustainability, technology, and strategic international partnerships, reflecting a positive economic outlook
- The UAE's adaptive inflation, influenced by energy market dynamics and economic diversification efforts, is projected to stabilize, fostering sustained economic growth
- The UAE's MaaS category is driving forward with resilience and growth in shared mobility
- The UAE battery market is capitalizing on the dual advantages of declining prices and the growing focus on sustainable energy
- Sales in the UAE used car market thriving due to demand for luxury vehicles from a transient workforce
- The UAE's electric vehicle (EV) industry is rapidly expanding, driven by strong governmental policies, international partnerships, and significant investments in local manufacturing and infrastructure
United Arab Emirates Hybrid and Electric Vehicles Industry Overview
The United Arab Emirates Hybrid and Electric Vehicles Market is fairly consolidated, with the top five companies occupying 71.89%. The major players in this market are Audi AG, Hyundai Motor Company, Peugeot S.A., Toyota Motor Corporation and Volvo Car AB (sorted alphabetically).
United Arab Emirates Hybrid and Electric Vehicles Market Leaders
Audi AG
Hyundai Motor Company
Peugeot S.A.
Toyota Motor Corporation
Volvo Car AB
Other important companies include Bayerische Motoren Werke AG, Daimler AG (Mercedes-Benz AG), Groupe Renault, Honda Motor Co. Ltd., Jaguar Land Rover Limited, Porsche, Tesla Inc..
*Disclaimer: Major Players sorted in alphabetical order.
Need More Details on Market Players and Competitors?
Download PDF
United Arab Emirates Hybrid and Electric Vehicles Market News
- December 2023: Honda has launched e:NP1 Plus in 2023.
- December 2023: Toyota have a plan to spend $35bn to introduce 30 battery electric vehicle line-up by 2030.
- December 2023: Tesla has introduced the Software Version 11.0 with new user interface, games, updated navigation and many features.
Free with this Report
For the Vehicle Hub report, we provide an extensive collection of over 150 free charts, delivering detailed insights on regional and country-level dynamics within the vehicle industry. This encompasses in-depth analyses of vehicle registrations, usage patterns in both consumer and business segments, and evaluations of various vehicle configurations and body types. The report delves into critical industrial trends such as shifts in vehicle production and distribution centers, changes in vehicle ownership costs, and advancements in automotive technologies. Further, our report offers comprehensive market segmentation by vehicle type, body type, propulsion, and fuel categories, providing a nuanced understanding of the market landscape. It also explores the adoption rate of new technologies, the impact of regulatory changes, and the influence of economic factors on the vehicle market. We include a thorough examination of key industry players, regulatory frameworks, and market size in terms of both revenue and unit sales, leading to strategic projections and forecasts that account for emerging trends and potential shifts in the industry.
United Arab Emirates Hybrid and Electric Vehicles Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study鈥�
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Population
2.2. GDP Per Capita
2.3. Consumer Spending For Vehicle Purchase (cvp)
2.4. Inflation
2.5. Interest Rate For Auto Loans
2.6. Shared Rides
2.7. Impact Of Electrification
2.8. EV Charging Station
2.9. Battery Pack Price
2.10. New Xev Models Announced
2.11. Used Car Sales
2.12. Fuel Price
2.13. Oem-wise Production Statistics
2.14. Regulatory Framework
2.15. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
3.1. Vehicle Type
3.1.1. Commercial Vehicles
3.1.1.1. Buses
3.1.1.2. Heavy-duty Commercial Trucks
3.1.1.3. Light Commercial Pick-up Trucks
3.1.1.4. Light Commercial Vans
3.1.1.5. Medium-duty Commercial Trucks
3.1.2. Passenger Vehicles
3.1.3. Two-Wheelers
3.2. Fuel Category
3.2.1. FCEV
3.2.2. HEV
3.2.3. PHEV
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles
4.4.1. Audi AG
4.4.2. Bayerische Motoren Werke AG
4.4.3. Daimler AG (Mercedes-Benz AG)
4.4.4. Groupe Renault
4.4.5. Honda Motor Co. Ltd.
4.4.6. Hyundai Motor Company
4.4.7. Jaguar Land Rover Limited
4.4.8. Peugeot S.A.
4.4.9. Porsche
4.4.10. Tesla Inc.
4.4.11. Toyota Motor Corporation
4.4.12. Volvo Car AB
5. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter鈥檚 Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, POPULATION YOY GROWTH RATE, UNITS, 2017 - 2030
- Figure 2:
- UAE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 3:
- UAE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 4:
- UAE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 5:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENTAGE, 2017 - 2022
- Figure 6:
- UAE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 7:
- UAE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 8:
- UAE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2022
- Figure 9:
- UAE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 10:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2023 - 2027
- Figure 11:
- UAE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 12:
- UAE MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2022
- Figure 13:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, VOLUME IN UNITS, 2017 - 2030
- Figure 14:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, VALUE IN USD, 2017 - 2030
- Figure 15:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY VEHICLE TYPE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 16:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY VEHICLE TYPE, BY VALUE IN USD, 2017 - 2030
- Figure 17:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2017 - 2030
- Figure 18:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2017 - 2030
- Figure 19:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY VEHICLE BODY TYPE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 20:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY VEHICLE BODY TYPE, BY VALUE IN USD, 2017 - 2030
- Figure 21:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
- Figure 22:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
- Figure 23:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY BUSES, BY VOLUME IN UNITS, 2017 - 2030
- Figure 24:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY BUSES, BY VALUE IN USD, 2017 - 2030
- Figure 25:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
- Figure 26:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2017 - 2030
- Figure 27:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2017 - 2030
- Figure 28:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
- Figure 29:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VOLUME IN UNITS, 2017 - 2030
- Figure 30:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VALUE IN USD, 2017 - 2030
- Figure 31:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
- Figure 32:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VOLUME IN UNITS, 2017 - 2030
- Figure 33:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VALUE IN USD, 2017 - 2030
- Figure 34:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
- Figure 35:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2017 - 2030
- Figure 36:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2017 - 2030
- Figure 37:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
- Figure 38:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY TWO-WHEELERS, BY VOLUME IN UNITS, 2017 - 2030
- Figure 39:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY TWO-WHEELERS, BY VALUE IN USD, 2017 - 2030
- Figure 40:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY FUEL CATEGORY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 41:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY FUEL CATEGORY, BY VALUE IN USD, 2017 - 2030
- Figure 42:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 43:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 44:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY BEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 45:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY BEV, BY VALUE IN USD, 2017 - 2030
- Figure 46:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 47:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY FCEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 48:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY FCEV, BY VALUE IN USD, 2017 - 2030
- Figure 49:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 50:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY HEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 51:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY HEV, BY VALUE IN USD, 2017 - 2030
- Figure 52:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 53:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY PHEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 54:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, BY PHEV, BY VALUE IN USD, 2017 - 2030
- Figure 55:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 56:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2017 - 2030
- Figure 57:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET, MOST ADOPTED STRATEGIES, 2017 - 2030
- Figure 58:
- UNITED ARAB EMIRATES HYBRID AND ELECTRIC VEHICLES MARKET SHARE(%), BY MAJOR PLAYERS, 2021
United Arab Emirates Hybrid and Electric Vehicles Industry Segmentation
Commercial Vehicles, Passenger Vehicles, Two-Wheelers are covered as segments by Vehicle Type. FCEV, HEV, PHEV are covered as segments by Fuel Category.
- The United Arab Emirates is emerging as a leading sustainable transportation hub in the Middle East, witnessing a notable surge in the market for hybrid and electric vehicles (HEVs and EVs). Within these markets, the passenger car segment takes the lead, reflecting a rising consumer preference for eco-friendly and energy-efficient rides.
- Government initiatives, including incentives for green vehicles, widespread charging station installations, and reduced fees for electric car registration, have bolstered the market. Notably, luxury electric sedans and SUVs are gaining significant traction, resonating with the United Arab Emirates' penchant for high-end automobiles. Hybrid vehicles are also finding favor, serving as a transitional choice for consumers seeking to reduce their carbon footprint without fully committing to electric variants.
- The commercial segment is gradually embracing hybrid and electric technologies, with a particular emphasis on logistics and public transportation. As part of its sustainable urban development vision, the United Arab Emirates is electrifying its public bus fleets and introducing electric taxis. For commercial fleets, the adoption of HEVs and EVs is driven by factors like cost savings, corporate sustainability goals, and compliance with emerging environmental regulations. However, the growth of this segment hinges on the expansion of charging infrastructure and targeted government incentives for commercial operators. Additionally, electric two-wheelers, such as scooters and motorcycles, are gaining popularity in urban centers, where traffic congestion and parking challenges make them an appealing choice for short commutes.
| Vehicle Type | |||||||
| |||||||
| Passenger Vehicles | |||||||
| Two-Wheelers |
| Fuel Category | |
| FCEV | |
| HEV | |
| PHEV |
Need A Different Region Or Segment?
Customize Now
Market Definition
- Vehicle Type - The category includes passenger cars, commercial vehicles, and two-wheelers.
- Vehicle Body Type - TUnder Passenger Cars, the category includes Hatchbacks, Sedans, Sports Utility Vehicles, and Multi-purpose Vehicles; for Commercial Vehicles, it covers Light Commercial Pick-up Trucks, Light Commercial Vans, Medium-duty Commercial Trucks, Heavy-duty Commercial Trucks, and Medium and Heavy Duty Buses; and for Two-Wheelers, it encompasses Scooters and Motorcycles.
- Fuel Category - The category exclusively covers electric propulsion systems, including various types such as HEV (Hybrid Electric Vehicles), PHEV (Plug-in Hybrid Electric Vehicles), BEV (Battery Electric Vehicles), and FCEV (Fuel Cell Electric Vehicles).
| Keyword | Definition |
|---|---|
| Electric Vehicle (EV) | A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles. |
| BEV | A BEV relies completely on a battery and a motor for propulsion. The battery in the vehicle must be charged by plugging it into an outlet or public charging station. BEVs do not have an ICE and hence are pollution-free. They have a low cost of operation and reduced engine noise as compared to conventional fuel engines. However, they have a shorter range and higher prices than their equivalent gasoline models. |
| PEV | A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. |
| Plug-in Hybrid EV | A vehicle that can be powered either by an ICE or an electric motor. In contrast to normal hybrid EVs, they can be charged externally. |
| Internal combustion engine | An engine in which the burning of fuels occurs in a confined space called a combustion chamber. Usually run with gasoline/petrol or diesel. |
| Hybrid EV | A vehicle powered by an ICE in combination with one or more electric motors that use energy stored in batteries. These are continually recharged with power from the ICE and regenerative braking. |
| Commercial Vehicles | Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes light commercial vehicles (LCVs) and medium and heavy-duty vehicles (M&HCV). |
| Passenger Vehicles | Passenger cars are electric motor鈥� or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver鈥檚 seat. |
| Light Commercial Vehicles | Commercial vehicles that weigh less than 6,000 lb (Class 1) and in the range of 6,001鈥�10,000 lb (Class 2) are covered under this category. |
| M&HDT | Commercial vehicles that weigh in the range of 10,001鈥�14,000 lb (Class 3), 14,001鈥�16,000 lb (Class 4), 16,001鈥�19,500 lb (Class 5), 19,501鈥�26,000 lb (Class 6), 26,001鈥�33,000 lb (Class 7) and above 33,001 lb (Class 8) are covered under this category. |
| Bus | A mode of transportation that typically refers to a large vehicle designed to carry passengers over long distances. This includes transit bus, school bus, shuttle bus, and trolleybuses. |
| Diesel | It includes vehicles that use diesel as their primary fuel. A diesel engine vehicle have a compression-ignited injection system rather than the spark-ignited system used by most gasoline vehicles. In such vehicles, fuel is injected into the combustion chamber and ignited by the high temperature achieved when gas is greatly compressed. |
| Gasoline | It includes vehicles that use gas/petrol as their primary fuel. A gasoline car typically uses a spark-ignited internal combustion engine. In such vehicles, fuel is injected into either the intake manifold or the combustion chamber, where it is combined with air, and the air/fuel mixture is ignited by the spark from a spark plug. |
| LPG | It includes vehicles that use LPG as their primary fuel. Both dedicated and bi-fuel LPG vehicles are considered under the scope of the study. |
| CNG | It includes vehicles that use CNG as their primary fuel. These are vehicles that operate like gasoline-powered vehicles with spark-ignited internal combustion engines. |
| HEV | All the electric vehicles that use batteries and an internal combustion engine (ICE) as their primary source for propulsion are considered under this category. HEVs generally use a diesel-electric powertrain and are also known as hybrid diesel-electric vehicles. An HEV converts the vehicle momentum (kinetic energy) into electricity that recharges the battery when the vehicle slows down or stops. The battery of HEV cannot be charged using plug-in devices. |
| PHEV | PHEVs are powered by a battery as well as an ICE. The battery can be charged through either regenerative breaking using the ICE or by plugging into some external charging source. PHEVs have a better range than BEVs but are comparatively less eco-friendly. |
| Hatchback | These are compact-sized cars with a hatch-type door provided at the rear end. |
| Sedan | These are usually two- or four-door passenger cars, with a separate area provided at the rear end for luggage. |
| SUV | Popularly known as SUVs, these cars come with four-wheel drive, and usually have high ground clearance. These cars can also be used as off-road vehicles. |
| MPV | These are multi-purpose vehicles (also called minivans) designed to carry a larger number of passengers. They carry between five and seven people and have room for luggage too. They are usually taller than the average family saloon car, to provide greater headroom and ease of access, and they are usually front-wheel drive. |
Need More Details on Market Definition?
Ask a Question
Research Methodology
糖心vlog传媒 follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the sales volume with their respective average selling price (ASP). While estimating ASP factors like average inflation, market demand shift, manufacturing cost, technological advancement, and varying consumer preference, among others have been taken into account.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
Get More Details On Research Methodology
Download PDF
80% of our clients seek made-to-order reports. How do you want us to tailor yours?
