This Frost & Sullivan study provides an outlook for the electric vehicle industry based on the latest industry data; it provides an outline of current trends and an in-depth analysis of future developments, as well as a breakdown of the main stakeholders in the sector and their performance.
EV sales in 2022 amounted to a total of 10.5 million, of which 72.7% were BEVs and 27.2% were PHEVs. FCEV sales remained the same as in 2021, which constituted 0.1% of the total EV sales. Global EV penetration increased from 9% in 2021 to 13% in 2022. APAC continued to record the highest y-o-y growth of 82.7%.
BYD emerged as the new market leader for the first time since the launch of EVs with over 1,858,247 unit sales followed by Tesla which sold approximately 1,314,330 units. Over 479,337 MWH of battery power was supplied globally. CATL continued to be the market leader with a market share more than 29.6%, followed by LG Energy Solution with a 16.4% market share. EV charging point installations surpassed 2.2 million points compared to 1.5 million in 2021 with China accounting for 60% and having the highest number of installations. The key trends in the market include over $400 billion investments freshly announced that will go toward establishing battery manufacturing plants and developing new EV models.
V2G-enabled vehicles with key OEMs such as VW shifting to 100% V2G-enabled vehicles on its MEB platform. Presently, only 4-5 EV models are V2G enabled. Adopting ISO 15118’s standards will ensure communication features encryption, decryption, and two-way authentication. Technical advancements toward batteries developing high power energy and heat dissipation capabilities will be imperative to render them compatible with ultrafast charging.
Author: Prajyot Sathe
Electric Vehicle (EV) Highlights—2022 and Future Predictions
Global EV Market, 2022 and 2023e
Global EV Market, 2022 and 2023e (Top 5 EV Markets)
EV Growth And Penetration—Key Countries
EV Growth And Penetration—Key Countries (continued)
EV Growth And Penetration—Key OEMs
EV Growth And Penetration—Key OEMs (continued)
EV Charging Infrastructure Development
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the EV Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Top 5 Global Economic Highlights of 2022
Top 5 Global Economic Highlights of 2023
Global GDP Growth Expectations
Recessionary/Slowdown Expectations for Major Economies
Global GDP Growth Snapshot
Advanced Economy Predictions for 2023
Emerging Market Economy Predictions for 2023
2023 Regional Risks and Policy Direction
Research Scope
EV Segmentation
Key Trends in the EV Market
Increased OEM Planned Investments by 2030
EV Digital Products
Vehicle-to-Grid (V2G)/Virtual Power Plants (VPPs)
ISO 15118’s Standards/OCPP 2.0.1
High Power/ Ultrafast Charging
Vehicle Manufacturer Electrification Plans
Mergers and Acquisitions
Charging Data Utilization
Gigafactory Developments
Highlights of the EV Market in Europe—2022 and 2023e
European EV Market, 2022 and 2023e
EV Growth And Penetration—Key Countries
EV Growth And Penetration—Key OEMs
The European Powertrain Mix in the Next Decade
Highlights of the EV Market in the Americas—2022 and 2023e
The Americas EV Market, 2022 and 2023e
EV Growth And Penetration—Key Countries
EV Growth And Penetration—Key OEMs
The United States Powertrain Mix in the Next Decade
Highlights of the EV Market in China—2022 and 2023e
China EV Market, 2022 and 2023e
EV Growth and Penetration—Key OEMs
The Chinese Powertrain Mix in the Next Decade
Highlights of the EV Market in APAC (Excluding China)—2022 and 2023e
APAC (Excluding China) EV Market, 2022 and 2023e
EV Growth and Penetration—Key Countries
EV Growth and Penetration—Key OEMs
The APAC (Excluding China) Powertrain Mix in the Next Decade
Highlights of the Market in the MEA—2022 and 2023e
MEA EV Market, 2022 and 2023e
EV Growth and Penetration—Key Countries
EV Growth and Penetration—Key OEMs
Growth Opportunity 1—The Establishment of Partnerships, JVs, and Acquisitions will be Prominent in the Next 3–5 Years to Develop In-house Capabilities
Growth Opportunity 1—The Establishment of Partnerships, JVs, and Acquisitions will be Prominent in the Next 3–5 Years to Develop In-house Capabilities (continued)
Growth Opportunity 2—EV-specific Digital Services Fit into Categories such as Charging, Energy Management, Value-added Services, and eCommerce
Growth Opportunity 2—EV-specific Digital Services Fit into Categories such as Charging, Energy Management, Value-added Services, and eCommerce (continued)
Growth Opportunity 3—EV Batteries and Components with Valuable Materials Will Help Establish a Circular Economy in the EV Space
Growth Opportunity 3—EV Batteries and Components with Valuable Materials Will Help Establish a Circular Economy in the EV Space (continued)
Conclusions and Future Outlook
Your Next Steps
Why Frost, Why Now?
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
Legal Disclaimer
List of Figures- The EV Market: Highlights and Future Prediction, Global, 2022 and 2023e
- Electric Vehicle Market: EV Market Overview, Global, 2022 and 2023e
- Electric Vehicle Market: Sales By Top 5 Models, Global, 2022
- Electric Vehicle Market: EV Sales By Top 5 OEMs, Global, 2022 and 2023e
- Electric Vehicle Market: EV Growth and Penetration, Key Countries, 2022 and 2023e
- Electric Vehicle Market: EV Growth and Penetration, Key Countries, 2022
- Electric Vehicle Market: EV Growth And Penetration, Key OEMs, Global, 2021, 2022 and 2023e
- Electric Vehicle Market: EV Sales Forecast, Global, 2015-2030
- Electric Vehicle Market: EV Sales Forecast, Global, 2022
- The EV Market: EV Growth and Penetration, Key Countries, 2022 and 2023e
- The EV Market: Upcoming Announcements from Key OEMs, Global, 2022-2030
- The EV Market: EV Digital Products—Outline, Global, 2022
- The EV Market: V2G/VPPs, Global, 2022
- The EV Market: Standards and Compatibility, Global, 2022
- The EV Market: Ultrafast Charging, Global, 2022
- The EV Market: OEM Electrification Targets, Global, 2022-2040
- The EV Market: Notable Mergers and Acquisitions, Global, 2022
- The EV Market: EV Charging Analytics and Utilization, Global, 2022
- The EV Market: Gigafactory Developments, Global, 2022
- The EV Market: Key Highlights and Future Prediction, Europe, 2022
- EV Market: EV Market Overview, Europe, 2022 and 2023e
- EV Market: EV Market Overview, Europe, Top Countries, 2022
- The EV Market: EV Growth and Penetration—Top 10 Countries, 2022 and 2023e
- The EV Market: EV Growth and Penetration—Top 10 OEMs, Europe, 2022 and 2023e
- The EV Market: Estimated Sales by Powertrain for Passenger Vehicles, Europe, 2015-2030
- The EV Market: Key Highlights and Future Prediction, the Americas, 2022
- EV Market: EV Market Overview, Americas, 2022 and 2023e
- EV Market: EV Market Overview, Americas, Top Countries, 2022
- The EV Market: EV Sales by Top 10 Models, Americas, 2022
- The EV Market: EV Growth and Penetration—Top 5 Countries in Americas, 2022 and 2023e
- The EV Market: EV Growth and Penetration—Top 10 OEMs, Americas, 2022 and 2023e
- The EV Market: Estimated Sales by Powertrain for Passenger Vehicles, United States, 2015-2030
- The EV Market: Key Highlights and Future Prediction, China, 2022
- EV Market: EV Market Overview, China, 2022 and 2023e
- EV Market: EV Market Overview, China, Top Countries, 2022
- The EV Market: EV Sales by Top 10 Models, China, 2022
- The EV Market: EV Growth and Penetration—Top 10 OEMs, China, 2021 and 2022e
- The EV Market: Estimated Sales by Powertrain for Passenger Vehicles, China, 2015-2030
- The EV Market: Key Highlights and Future Prediction, APAC, 2022
- EV Market: EV Market Overview, APAC, 2022 and 2023e
- EV Market: EV Market Overview, APAC, Top Countries, 2022
- The EV Market: EV Sales by Top 10 Models, APAC, 2022
- The EV Market: EV Growth and Penetration—Top 10 Countries, APAC, 2022 and 2023e
- The EV Market: EV Growth and Penetration—Top 10 OEMs, APAC, 2022 and 2023e
- EVs: Estimated Sales by Powertrain for Passenger Vehicles, APAC (excluding China), 2015-2030
- The EV Market: Key Highlights and Future Prediction, MEA, 2022
- EV Market: EV Market Overview, MEA, 2022 and 2023e
- EV Market: EV Market Overview, MEA, Top Countries, 2022
- The EV Market: EV Sales by Top 10 Models, MEA, 2021
- The EV Market: EV Growth and Penetration—Top 10 Countries, MEA, 2022 and 2023e
- Electric Vehicle Market: EV Growth and Penetration—Top 10 OEMs, MEA, 2022 and 2023e
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This Frost & Sullivan study provides an outlook for the electric vehicle industry based on the latest industry data; it provides an outline of current trends and an in-depth analysis of future developments, as well as a breakdown of the main stakeholders in the sector and their performance.
EV sales in 2022 amounted to a total of 10.5 million, of which 72.7% were BEVs and 27.2% were PHEVs. FCEV sales remained the same as in 2021, which constituted 0.1% of the total EV sales. Global EV penetration increased from 9% in 2021 to 13% in 2022. APAC continued to record the highest y-o-y growth of 82.7%.
BYD emerged as the new market leader for the first time since the launch of EVs with over 1,858,247 unit sales followed by Tesla which sold approximately 1,314,330 units. Over 479,337 MWH of battery power was supplied globally. CATL continued to be the market leader with a market share more than 29.6%, followed by LG Energy Solution with a 16.4% market share. EV charging point installations surpassed 2.2 million points compared to 1.5 million in 2021 with China accounting for 60% and having the highest number of installations. The key trends in the market include over $400 billion investments freshly announced that will go toward establishing battery manufacturing plants and developing new EV models.
V2G-enabled vehicles with key OEMs such as VW shifting to 100% V2G-enabled vehicles on its MEB platform. Presently, only 4-5 EV models are V2G enabled. Adopting ISO 15118’s standards will ensure communication features encryption, decryption, and two-way authentication. Technical advancements toward batteries developing high power energy and heat dissipation capabilities will be imperative to render them compatible with ultrafast charging.
Author: Prajyot Sathe
| Deliverable Type | Market Outlook |
|---|---|
| Author | Prajyot Sathe |
| Industries | Automotive |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Electric Car Industry Growth |
| Keyword 2 | EV Market |
| Keyword 3 | Electric Vehicle Market |
| List of Charts and Figures | The EV Market: Highlights and Future Prediction, Global, 2022 and 2023e~ Electric Vehicle Market: EV Market Overview, Global, 2022 and 2023e~ Electric Vehicle Market: Sales By Top 5 Models, Global, 2022~ Electric Vehicle Market: EV Sales By Top 5 OEMs, Global, 2022 and 2023e~ Electric Vehicle Market: EV Growth and Penetration, Key Countries, 2022 and 2023e~ Electric Vehicle Market: EV Growth and Penetration, Key Countries, 2022~ Electric Vehicle Market: EV Growth And Penetration, Key OEMs, Global, 2021, 2022 and 2023e~ Electric Vehicle Market: EV Sales Forecast, Global, 2015-2030~ Electric Vehicle Market: EV Sales Forecast, Global, 2022~ The EV Market: EV Growth and Penetration, Key Countries, 2022 and 2023e~ The EV Market: Upcoming Announcements from Key OEMs, Global, 2022-2030~ The EV Market: EV Digital Products—Outline, Global, 2022~ The EV Market: V2G/VPPs, Global, 2022~ The EV Market: Standards and Compatibility, Global, 2022~ The EV Market: Ultrafast Charging, Global, 2022~ The EV Market: OEM Electrification Targets, Global, 2022-2040~ The EV Market: Notable Mergers and Acquisitions, Global, 2022~ The EV Market: EV Charging Analytics and Utilization, Global, 2022~ The EV Market: Gigafactory Developments, Global, 2022~ The EV Market: Key Highlights and Future Prediction, Europe, 2022~ EV Market: EV Market Overview, Europe, 2022 and 2023e~ EV Market: EV Market Overview, Europe, Top Countries, 2022~ The EV Market: EV Growth and Penetration—Top 10 Countries, 2022 and 2023e~ The EV Market: EV Growth and Penetration—Top 10 OEMs, Europe, 2022 and 2023e~ The EV Market: Estimated Sales by Powertrain for Passenger Vehicles, Europe, 2015-2030~ The EV Market: Key Highlights and Future Prediction, the Americas, 2022~ EV Market: EV Market Overview, Americas, 2022 and 2023e~ EV Market: EV Market Overview, Americas, Top Countries, 2022~ The EV Market: EV Sales by Top 10 Models, Americas, 2022~ The EV Market: EV Growth and Penetration—Top 5 Countries in Americas, 2022 and 2023e~ The EV Market: EV Growth and Penetration—Top 10 OEMs, Americas, 2022 and 2023e~ The EV Market: Estimated Sales by Powertrain for Passenger Vehicles, United States, 2015-2030~ The EV Market: Key Highlights and Future Prediction, China, 2022~ EV Market: EV Market Overview, China, 2022 and 2023e~ EV Market: EV Market Overview, China, Top Countries, 2022~ The EV Market: EV Sales by Top 10 Models, China, 2022~ The EV Market: EV Growth and Penetration—Top 10 OEMs, China, 2021 and 2022e~ The EV Market: Estimated Sales by Powertrain for Passenger Vehicles, China, 2015-2030~ The EV Market: Key Highlights and Future Prediction, APAC, 2022~ EV Market: EV Market Overview, APAC, 2022 and 2023e~ EV Market: EV Market Overview, APAC, Top Countries, 2022~ The EV Market: EV Sales by Top 10 Models, APAC, 2022~ The EV Market: EV Growth and Penetration—Top 10 Countries, APAC, 2022 and 2023e~ The EV Market: EV Growth and Penetration—Top 10 OEMs, APAC, 2022 and 2023e~ EVs: Estimated Sales by Powertrain for Passenger Vehicles, APAC (excluding China), 2015-2030~ The EV Market: Key Highlights and Future Prediction, MEA, 2022~ EV Market: EV Market Overview, MEA, 2022 and 2023e~ EV Market: EV Market Overview, MEA, Top Countries, 2022~ The EV Market: EV Sales by Top 10 Models, MEA, 2021~ The EV Market: EV Growth and Penetration—Top 10 Countries, MEA, 2022 and 2023e~ Electric Vehicle Market: EV Growth and Penetration—Top 10 OEMs, MEA, 2022 and 2023e~ |
| Podcast | No |
| WIP Number | MGF7-01-00-00-00 |
2023 Prediction of Global Electric Car Growth Outlook
2023 Prediction of Global Electric Car Growth Outlook Updated Research Available
The Strong Transition Towards Electrification Will Continue With an Estimated EV Penetration of 18–19% Selling Over 15.2 Million Units
RELEASE DATE
06-Jun-2023
06-Jun-2023
REGION
North America
North America
Deliverable Type
Market Outlook
Market Outlook
Research Code: MGF7-01-00-00-00
SKU: AU02550-NA-MO_27745
$4,950.00
In stock
SKU
AU02550-NA-MO_27745