Global Electric Vehicle Market Outlook, 2020

Global Electric Vehicle Market Outlook, 2020

Over 2.5 Million Electric Vehicles are Likely to Be Sold in 2020 with China Continuing to Be the Leader with a 53% Market Share

RELEASE DATE
07-May-2020
REGION
Europe
Research Code: MF47-01-00-00-00
SKU: AU01988-EU-MO_24316

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Description

As we move into the new decade, the electric vehicle (EV) industry is likely to experience total sales of over 2.5 million units (including battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). Majority of the European OEMs are likely to reduce PHEV models and introduce BEV models in their product lines. OEMs are revisiting their product mix to comply with emission norms and targets. Over 450 models—300 BEVs and 150 PHEVs—will be available for sale in 2020.

The EV market grew by 8.8% year-on-year (y-o-y), registering the slowest growth in the decade. This low growth was mainly due to slowdown in sales on a global scale across China, Europe and the United States. By region, Europe experienced the highest growth in 2019. The slowdown was experienced from the second half of 2019 mainly in China due to the elimination of certain incentives. The country however continues to lead the market with over 52.5% market share followed by Europe and the United States with 26.0% and 14% shares respectively. Norway continues to lead in terms of penetration rate, at 60%, which is 5% higher than the 2018 level. BEVs dominate the market and have come out stronger in 2019 with a 74% share while PHEVs constitute the remaining 26%. Global policies favor the adoption of BEVs, which has reflected in their increased sales. A total of 345 models—221 BEVs and 124 PHEs—was available for sale in 2019. Over 320,000 public charging stations, including both AC and DC charging stations, were installed globally.

In 2020, Europe will experience the highest growth as compared to other regions mainly due to the implementation of stringent emission norms. On similar terms, China is likely to experience a negative growth in EV sales since there is no clarity on the incentive revisions and the effects of Corona virus on the country. Non-monetary or tax incentives are likely to be more attractive for buyers as countries with the highest EV penetration ratio (Norway, Netherlands) offer these rather than cash incentives.

The global EV battery recycling market generated a revenue of $10.3 million in 2018 and is expected to reach $6,524.2 million by 2025, expanding at a CAGR of 151.5%. Out of the revenue generated, hydro-metallurgical process constituted 59%, followed by pyro-metallurgical process at 39% and other recycling technologies at 2%. Current recycling processes for lithium-ion battery cells focus on the recovery of cobalt, nickel, and copper due to their comparatively high prices and ease of recovery in the pyro-metallurgical process. Other elements are mostly not recovered or undergo down-cycling. In this way, numerous hydro-metallurgical procedures have been created by different organizations – examples are the procedures created by Accurec and Toxco Inc. (presently Retriev Technologies Inc.).

Author: Prajyot Sathe

Table of Contents

Key Predictions—2020

Highlights of 2019

EV Market—2019 Global Trend

Top 10 OEMs

Impact of COVID-19 on Global EV Sales

Hybrid and EV Sales Mix Forecast to 2025

Europe—Incentive Comparison with Sales

China—Incentives that Expired in 2019

Key Countries—Charging Station Installation Base

Top 6 Battery Manufacturers—Global

Global Lithium-ion Battery Production Scenario—2027

Research Scope

Research Aims and Objectives

Key Questions this Study will Answer

Research Background

Research Methodology

COVID-19 Global Economic Impact—Visioning Scenarios

Global, Advanced, and Emerging Markets Growth

Global Economic Outlook 2020—Top 5 Predictions

Global Economic Outlook 2020—Top 5 Predictions (continued)

2020 World GDP Growth Snapshot

Major Economies—Key Predictions for 2020

Key Predictions—2020

Highlights of 2019

Highlights of 2019 (continued)

Historic EV Sales

EV Market—2019 Global Trend

Global EV Sales—By Month

Top 10 OEMs

Top 10 Models—BEVs and PHEVs

Impact of COVID-19 on Global EV Sales

Impact of COVID-19 on Regional EV Sales

xEV Passenger Car Breakdown by Region—2027

Hybrid and EV Sales Mix Forecast to 2025

Europe—Key Highlights

Europe—Historic EV Sales

Europe—Market Trends in 2019

Europe—EV Sales by Month

Europe—Top 10 Models

Europe—Incentive Comparison with Sales

Europe—Charging Station Installations

Europe—Incentives and Subsidies

Europe—Incentives and Subsidies (continued)

Europe—Potential EV Launches in 2020

Europe—Impact of COVID-19 on EV Sales

Europe—Key Influencers Amidst COVID-19 Crisis that Impact EV Sales

Europe—EV Charging Station Installations

Europe—Ongoing Charging Infrastructure Projects

Europe—Battery Manufacturers

Europe—Battery Manufacturers (continued)

Americas—Key Highlights

Americas—Historic EV Sales

Americas—Market Trends in 2019

Americas—EV Sales by Month

Americas—Top 10 Models

Americas—Charging Station Installations

US—Incentives and Subsidies

US—Incentives and Subsidies (continued)

US—Incentives and Subsidies (continued)

US and Canada—Incentives and Subsidies

Americas—Potential EV Launches in 2020

Americas—Impact of COVID-19 on EV Sales

Americas—Key Influencers Amidst COVID-19 Crisis that Impact EV Sales

Americas—EV Charging Station Installations

US—Battery Manufacturers

China—Key Highlights

China—Historic EV Sales

China—Market Trends in 2019

China—EV Sales by Month

China—Government Regulations: Overview of Purchase Incentives

China—Top 10 Models

China—Charging Station Installations

China—Incentives that Expired in 2019

China—Potential EV Launches in 2020

China—Impact of COVID-19 on EV Sales

China—Key Influencers Amidst COVID-19 Crisis that Impact EV Sales

China—EV Charging Station Installations

China—Battery Manufacturers

APAC—Key Highlights

APAC—Historic EV Sales

APAC—Market Trends in 2019

APAC—EV Sales by Month

APAC—Top 10 Models

APAC—Charging Station Installations

APAC—Incentives and Subsidies

APAC—Potential EV Launches in 2020

APAC—Impact of COVID-19 on EV Sales

APAC—Key Influencers Amidst COVID-19 Crisis that Impact EV Sales

APAC—EV Charging Station Installations

APAC—Battery Manufacturers

Middle East and Africa—Key Highlights

Middle East and Africa—Historic EV Sales

Middle East and Africa—Market Trends in 2019

Middle East and Africa—EV Sales by Month

Middle East and Africa—Top 10 Models

Middle East and Africa—Charging Station Installations

Middle East and Africa—Impact of COVID-19 on EV Sales

Middle East and Africa—Key Influencers Amidst COVID-19 Crisis that Impact EV Sales

Top 6 Battery Manufacturers—Global

Top 10 OEMs

Raw Material Suppliers—Cathode

Sourcing Strategy—Supplier Relationships

Global Lithium-ion Battery Production Scenario—2027

Market Trends in Battery Recycling Technologies

EV Battery Waste Management

Typical Battery Recycling Process

EV Battery Reuse and Recycling

Reuse/Second-Life Examples of Lithium-ion Batteries

Reuse/Second-Life Examples of Lithium-ion Batteries (continued)

Extended Producer Responsibility (EPR)—Global Scenario

Growth Opportunity

Strategic Imperatives for the EV Market

Key Conclusions

Legal Disclaimer

Market Engineering Methodology

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

Related Research
As we move into the new decade, the electric vehicle (EV) industry is likely to experience total sales of over 2.5 million units (including battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). Majority of the European OEMs are likely to reduce PHEV models and introduce BEV models in their product lines. OEMs are revisiting their product mix to comply with emission norms and targets. Over 450 models—300 BEVs and 150 PHEVs—will be available for sale in 2020. The EV market grew by 8.8% year-on-year (y-o-y), registering the slowest growth in the decade. This low growth was mainly due to slowdown in sales on a global scale across China, Europe and the United States. By region, Europe experienced the highest growth in 2019. The slowdown was experienced from the second half of 2019 mainly in China due to the elimination of certain incentives. The country however continues to lead the market with over 52.5% market share followed by Europe and the United States with 26.0% and 14% shares respectively. Norway continues to lead in terms of penetration rate, at 60%, which is 5% higher than the 2018 level. BEVs dominate the market and have come out stronger in 2019 with a 74% share while PHEVs constitute the remaining 26%. Global policies favor the adoption of BEVs, which has reflected in their increased sales. A total of 345 models—221 BEVs and 124 PHEs—was available for sale in 2019. Over 320,000 public charging stations, including both AC and DC charging stations, were installed globally. In 2020, Europe will experience the highest growth as compared to other regions mainly due to the implementation of stringent emission norms. On similar terms, China is likely to experience a negative growth in EV sales since there is no clarity on the incentive revisions and the effects of Corona virus on the country. Non-monetary or tax incentives are likely to be more attractive for buyers as countries with the highest EV penetration ratio (Norway, Netherlands) offer these rather than cash incentives. The global EV battery recycling market generated a revenue of $10.3 million in 2018 and is expected to reach $6,524.2 million by 2025, expanding at a CAGR of 151.5%. Out of the revenue generated, hydro-metallurgical process constituted 59%, followed by pyro-metallurgical process at 39% and other recycling technologies at 2%. Current recycling processes for lithium-ion battery cells focus on the recovery of cobalt, nickel, and copper due to their comparatively high prices and ease of recovery in the pyro-metallurgical process. Other elements are mostly not recovered or undergo down-cycling. In this way, numerous hydro-metallurgical procedures have been created by different organizations – examples are the procedures created by Accurec and Toxco Inc. (presently Retriev Technologies Inc.). Author: Prajyot Sathe
More Information
No Index No
Podcast No
Author Prajyot Sathe
Industries Automotive
WIP Number MF47-01-00-00-00
Is Prebook No
GPS Codes 9800-A6,9807-A6,9882-A6