Electric Vehicles: Future of Automobile Industry

CHICAGO, Nov. 23, 2021 /PRNewswire/ — EV charging market vendors are helping countries to boost their electric vehicle penetration by investing and installing a greater number of EV charging points across countries as it is one of the biggest challenges in the EV market. The government initiative towards reducing pollution is one of the next big things enforcing the adoption of EVs across the globe. Key vendors are focusing on products complementary to golf to maximize revenue generation in the global market. Arizton’s research reports on the automotive mobility offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market insights. Observing these rapid and drastic changes in demand and supply patterns encouraged the industry analysts at Arizton to publish exhaustive and data-driven insights on these recent trends in the industry.

1. Electric Vehicle Charging Infrastructure Market – Global Outlook and Forecast 2021-2026

Electric vehicle charging infrastructure market size to reach USD 14 billion by 2026, growing at a CAGR of 35.81{7b5a5d0e414f5ae9befbbfe0565391237b22ed5a572478ce6579290fab1e7f91} during the forecast period. With the rapid increase in demand for EVs, wireless charging technology is growing globally with consumers demanding wireless charging or on-the-go charging for electric vehicles. Many automotive players are partnering with key vendors in the market and other manufacturers adding customized charging infrastructure to expand their product portfolio. The initiative towards cleaner future in 2020 by many countries have increased the growth of the EVs across the globe.

The electric vehicle charging systems (EVCS) market is heavily reliant on the successful adoption of electric vehicles in the global market. Many automobile manufacturers such as Tesla, Nissan, and others are increasing their offerings in the EVCS business models to provide ease of charging for their customers by increasing the number of value propositions and product offerings. In the next few years, the rising fund for electric vehicle charging systems from government bodies in various countries is expected to propel the demand for charging systems among the EV owners.

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Impact of COVID-19

During the outbreak of the COVID-19 pandemic, people have found out the importance of adoption electrified transportation system. With over one million electric cars on the road in the United States, the EV industry is at a tipping stage, with prices set to fall, which is resulting in increasing innovation and scaling of EVs. During the pandemic the number of electric vehicles charging systems, rose at a faster pace than the previous year, owing to various plans announced by several countries to accelerate EV adoption and increased spending in EV charging infrastructure. Due to the impact of pandemic in supply chain and lockdown imposed by the government, the manufacture and sales of new electric cars came to a halt in Q1 and Q2 2020 around the world. However, the sale of EV charging systems has increased in Q3 and Q4 2020, especially for private and semi-public charging. This in turn, will heavily increase the demand of these product in the automobile sector during the forecast period.

Get more insights now: https://www.arizton.com/market-reports/electric-vehicle-charging-station-market

2. Europe Electric Two-wheeler Market – Industry Outlook & Forecast 2021-2026

The Europe electric two-wheeler market was valued at USD 7.42 billion in 2020 and is expected to reach USD 15.55 billion by 2026. Electric mobility is witnessing an early adoption phase in Europe, with margins exceeding 1{7b5a5d0e414f5ae9befbbfe0565391237b22ed5a572478ce6579290fab1e7f91} in several countries. In Europe, the EU 2020 strategic goals encourage policymakers to provide incentives for low-carbon vehicles, especially electric two-wheelers. Thus, these incentives related to tax and subsidies are expected to encourage EV market demand in Europe, leading to higher unit shipments and revenue. The market has become more consolidated, with big vendors such as Askoll, Piaggio, Energica, Pierer Mobility, and BMW accounting for most of the sales. The demand for high-power electric motorcycles is rapidly increasing across Europe. Electric high-power motorcycles are increasingly being adopted by consumers and are expected to emerge as an important trend during the forecast period.

Interesting Facts to know!

• In November 2020, Scania (provider of transport solutions), EVBox Group, and ENGIE partnered to accelerate the development of electric bus and truck solutions in Europe.

• Vendors such as BMW and Zero Motorcycle are some of the key vendors launching high-power electric motorcycles to grab the high market share.

• EV adoption including electric two-wheelers will continue to be driven by aggressive government goals by 2030.

• Nickel metal hydride batteries have replaced Ni-Cd (nickel-cadmium) batteries for portable consumer usage in Europe.

Get more insights now: https://www.arizton.com/market-reports/europe-electric-two-wheeler-market

3. Golf Cart and Buggy Market – Global Outlook and Forecast 2021-2026

The global golf cart and buggy market is expected to reach USD 4.23 billion by 2025 and is expected to grow at a CAGR of 4.64{7b5a5d0e414f5ae9befbbfe0565391237b22ed5a572478ce6579290fab1e7f91} during the period 2021-2026. Across the globe, governments investments in boosting local land, and property prices and pushing the expansion of golf courses worldwide, thereby accelerating the growth of the golf cart and buggy market. For instance, Vietnam in Asia witnesses the development of several luxury golf courses, such as the Ho Chi Minh Golf Trail, which links six luxury resorts and golf courses across the region. The rental business of golf carts is also high in public events such as exhibitions, music events, and wedding events. Europe is one of the largest markets for golf courses, where the rental services for golf carts are also growing. SHB’s Golf Buggy Hire is one of the most renowned rental golf cart business in Europe. The innovation and more customer friendly experience will help the golf cart and buggy market to accelerate the growth in the upcoming years.

Key Highlights:

• Garia opened a webshop that offers Garia cars for online purchase. The company is offering online purchase of various luxury cars such as Garia special edition, which is also offering for online sales inspired by the Mercedes Benz Style Edition Garia Golf car.

• Zoom Around, a golf cart rental business in Florida, is offering innovative EVs and golf carts at affordable prices.

• Utility golf carts are witnessing high demand in terms of revenue and unit shipment and are expected to project incremental revenue of USD 0.09 billion and incremental unit shipment of 14.85 thousand units during the forecast period.

Get more insights now: https://www.arizton.com/market-reports/golf-cart-buggy-market-size-analysis

About Arizton

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals, and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

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SOURCE Arizton Advisory & Intelligence