Electric Vehicles Market Size & Share

The global electric vehicles market size reached US$ 430.2 billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 1,282.1 billion in 2032, exhibiting a growth rate (CAGR) of 12.9% during 2024-2032.

Electric vehicles, often known as EVs, are cars that primarily utilize electricity as their primary energy source, in contrast to traditional vehicles that rely on gasoline or diesel internal combustion engines. These automobiles are engineered to be environmentally conscious and energy-efficient.