Summary

The global Electric Vehicle market was valued at US$ 513,246 million in 2025 and is expected to reach US$ 1,269,868 million by 2032, growing at a CAGR of 12.35% during 2026–2032.
In 2025, the global Electric Vehicle sales volume was 23,570.2 (K Units), and is expected to reach 62,678.6 (K Units) by 2032, growing at a CAGR of 13.14% during 2026–2032.
The North American market for Electric Vehicle was valued at US$ 52,683 million in 2025 and is projected to reach US$ 172,017 million by 2032, at a CAGR of 17.25% from 2026 to 2032.
The Asia-Pacific market for Electric Vehicle was valued at $ 336,144 million in 2025 and is projected to climb to US$ 725,828 million by 2032, at a CAGR of 9.82% from 2026 to 2032.
The European market for Electric Vehicle was valued at $ 113,809 million in 2025 and is projected to total US$ 283,437 million by 2032, at a CAGR of 12.88% from 2026 to 2032.

The global key companies in the Electric Vehicle market include Tesla, BYD, Volkswagen, BMW, Li Auto, Mercedes-Benz, Stellantis, SAIC, VOLVO, Hyundai & Kia, Renault, etc.
global market for Electric Vehicle, covering total sales volume, sales revenue, pricing, the market share and ranking of key companies, along with analyses by region & country, by Type, and by Application.
The Electric Vehicle market size, estimations, and forecasts are presented in terms of sales volume (K Units) and revenue ($ millions), with 2025 as the base year and historical and forecast data from 2021 to 2032. The report combines quantitative and qualitative analysis to help readers develop growth strategies, assess the competitive landscape, evaluate their position in the current marketplace, and make informed business decisions regarding Electric Vehicle.

Market Segmentation
By Company
 BYD
 Tesla
 BMW
 Volkswagen
 Li Auto
 SeresGroup
 GEELY
 Mercedes-Benz
 VOLVO
 SAIC
 Hyundai & Kia
 Stellantis
 Great Wall Motors
 Renault
 Chery
 NIO
 TOYOTA
 GAC Motor
 XPeng
 Leapmotor
 Xiaomi Auto
 Ford
 BAIC

Segment by Type
 PHEV
 BEV

Segment by Application
 Home Use
 Commercial Use

by Region
 North America
 United States
 Canada

 Asia Pacific
 China
 Japan
 South Korea
 India
 Rest of Asia Pacific

 Europe
 Germany
 France
 U.K.
 Italy
 Spain
 Rest of Europe

 Latin America
 Mexico
 Brazil
 Rest of Latin America

 Middle East & Africa
 Turkey
 Rest of MEA

Chapter Outline
Chapter 1: Introduces the scope of the report and the global market size (value, volume, and price). It also summarizes market dynamics and Recent Developments; identifies key drivers and restraints; outlines challenges and risks for manufacturers; reviews relevant industry policies and U.S. tariff implications.
Chapter 2: Provides a detailed analysis of the Electric Vehicle manufacturers’ competitive landscape—including pricing, sales and revenue shares, Recent Developments plans, and mergers and acquisitions (M&A).
Chapter 3: Analyzes market classification, presenting the size and growth potential of each segment to help readers identify blue-ocean opportunities.
Chapter 4: Analyzes market segmentation by Application, presenting the size and growth potential of each downstream segment to help readers identify blue-ocean opportunities.
Chapter 5: Presents Electric Vehicle sales and revenue at the regional level. It offers a quantitative assessment of market size and growth potential by region and summarizes market development, future prospects, addressable space, and country-level market size worldwide.
Chapter 6: Presents Electric Vehicle sales and revenue at the country level. It provides segmented data by Type and by Application for each country/region.
Chapter 7: Profiles key players, detailing the main companies’ product sales, revenue, pricing, gross margin, product portfolios, Recent Developments, etc.
Chapter 8: Analyzes the industry value chain, including upstream suppliers and downstream applications/customers.
Chapter 9: Conclusion.

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Table of Contents

1 Market Overview 1
1.1 Electric Vehicle Product Introduction 1
1.2 Global Electric Vehicle Market Size Forecast 1
1.2.1 Global Electric Vehicle Sales Value (2021–2032) 2
1.2.2 Global Electric Vehicle Sales Volume (2021–2032) 3
1.2.3 Global Electric Vehicle Sales Price (2021–2032) 4
1.3 Electric Vehicle Market Trends & Drivers 4
1.3.1 Electric Vehicle Industry Trends 4
1.3.2 Electric Vehicle Market Drivers & Opportunity 5
1.3.3 Electric Vehicle Market Challenges 6
1.3.4 Electric Vehicle Market Restraints 6
1.4 Assumptions and Limitations 6
1.5 Study Objectives 7
1.6 Years Considered 8
2 Competitive Analysis by Company 10
2.1 Global Electric Vehicle Players Revenue Ranking (2025) 10
2.2 Global Electric Vehicle Revenue by Company (2021–2025) 11
2.3 Global Electric Vehicle Sales Volume Ranking of Players (2025) 13
2.4 Global Electric Vehicle Sales Volume by Company (2021–2025) 14
2.5 Global Electric Vehicle Average Price by Company (2021–2025) 17
2.6 Key Manufacturers Electric Vehicle Product Offerings 18
2.7 Key Manufacturers Establish Date 19
2.8 Electric Vehicle Market Competitive Analysis 20
2.8.1 Electric Vehicle Market Concentration Rate (2021–2025) 20
2.8.2 Global 3 and 5 Largest Manufacturers by Electric Vehicle Revenue in 2025 21
2.8.3 Global Companies by Tier (Tier 1, Tier 2, Tier 3), based on Electric Vehicle revenue, 2025 22
2.9 Mergers & Acquisitions and Expansion 23
3 Segmentation Electric Vehicle Market Classification 25
3.1 Introduction by Type 25
3.1.1 PHEV 25
3.1.2 BEV 25
3.1.3 Global Electric Vehicle Sales Value by Type 26
3.1.4 Global Electric Vehicle Sales Volume by Type 28
3.1.5 Global Electric Vehicle Average Price by Type (2021–2032) 30
4 Segmentation by Application 31
4.1 Introduction by Application 31
4.1.1 Home Use 31
4.1.2 Commercial Use 31
4.2 Global Electric Vehicle Sales Value by Application 32
4.2.1 Global Electric Vehicle Sales Value by Application (2021 vs 2025 vs 2032) 33
4.2.2 Global Electric Vehicle Sales Value, by Application (2021–2032) 34
4.2.3 Global Electric Vehicle Sales Value, by Application (%), 2021–2032 35
4.3 Global Electric Vehicle Sales Volume by Application 35
4.3.1 Global Electric Vehicle Sales Volume by Application (2021 vs 2025 vs 2032) 35
4.3.2 Global Electric Vehicle Sales Volume, by Application (2021–2032) 36
4.3.3 Global Electric Vehicle Sales Volume, by Application (%), 2021–2032 36
4.4 Global Electric Vehicle Average Price by Application (2021–2032) 37
5 Segmentation by Region 38
5.1 Global Electric Vehicle Sales Value by Region 38
5.1.1 Global Electric Vehicle Sales Value by Region: 2021 vs 2025 vs 2032 38
5.1.2 Global Electric Vehicle Sales Value by Region (2021–2026) 38
5.1.3 Global Electric Vehicle Sales Value by Region (2027–2032) 39
5.1.4 Global Electric Vehicle Sales Value by Region (%), 2021–2032 39
5.2 Global Electric Vehicle Sales Volume by Region 40
5.2.1 Global Electric Vehicle Sales Volume by Region: 2021 vs 2025 vs 2032 40
5.2.2 Global Electric Vehicle Sales Volume by Region (2021–2026) 41
5.2.3 Global Electric Vehicle Sales Volume by Region (2027–2032) 41
5.2.4 Global Electric Vehicle Sales Volume by Region (%), 2021–2032 42
5.3 Global Electric Vehicle Average Price by Region (2021–2032) 42
5.4 North America 44
5.4.1 North America Electric Vehicle Sales Value, 2021–2032 44
5.4.2 North America Electric Vehicle Sales Value by Country (%), 2025 vs 2032 44
5.5 Europe 45
5.5.1 Europe Electric Vehicle Sales Value, 2021–2032 45
5.5.2 Europe Electric Vehicle Sales Value by Country (%), 2025 vs 2032 46
5.6 Asia Pacific 47
5.6.1 Asia Pacific Electric Vehicle Sales Value, 2021–2032 47
5.6.2 Asia Pacific Electric Vehicle Sales Value by Region (%), 2025 vs 2032 48
5.7 Latin America 49
5.7.1 Latin America Electric Vehicle Sales Value, 2021–2032 49
5.7.2 Latin America Electric Vehicle Sales Value by Country (%), 2025 vs 2032 49
5.8 Middle East & Africa 50
5.8.1 Middle East & Africa Electric Vehicle Sales Value, 2021–2032 50
5.8.2 Middle East & Africa Electric Vehicle Sales Value by Country (%), 2025 vs 2032 51
6 Segmentation by Key Countries/Regions 52
6.1 Key Countries/Regions Electric Vehicle Sales Value Growth Trends, 2021 vs 2025 vs 2032 52
6.2 Key Countries/Regions Electric Vehicle Sales Value and Sales Volume 53
6.2.1 Key Countries/Regions Electric Vehicle Sales Value, 2021–2032 53
6.2.2 Key Countries/Regions Electric Vehicle Sales Volume, 2021–2032 56
6.3 United States 59
6.3.1 United States Electric Vehicle Sales Value, 2021–2032 59
6.3.2 United States Electric Vehicle Sales Value by Type (%), 2025 vs 2032 59
6.3.3 United States Electric Vehicle Sales Value by Application, 2025 vs 2032 60
6.4 Europe 61
6.4.1 Europe Electric Vehicle Sales Value, 2021–2032 61
6.4.2 Europe Electric Vehicle Sales Value by Type (%), 2025 vs 2032 61
6.4.3 Europe Electric Vehicle Sales Value by Application, 2025 vs 2032 62
6.5 China 63
6.5.1 China Electric Vehicle Sales Value, 2021–2032 63
6.5.2 China Electric Vehicle Sales Value by Type (%), 2025 vs 2032 63
6.5.3 China Electric Vehicle Sales Value by Application, 2025 vs 2032 64
6.6 Japan 64
6.6.1 Japan Electric Vehicle Sales Value, 2021–2032 64
6.6.2 Japan Electric Vehicle Sales Value by Type (%), 2025 vs 2032 65
6.6.3 Japan Electric Vehicle Sales Value by Application, 2025 vs 2032 65
6.7 South Korea 66
6.7.1 South Korea Electric Vehicle Sales Value, 2021–2032 66
6.7.2 South Korea Electric Vehicle Sales Value by Type (%), 2025 vs 2032 66
6.7.3 South Korea Electric Vehicle Sales Value by Application, 2025 vs 2032 67
6.8 India 68
6.8.1 India Electric Vehicle Sales Value, 2021–2032 68
6.8.2 India Electric Vehicle Sales Value by Type (%), 2025 vs 2032 68
6.8.3 India Electric Vehicle Sales Value by Application, 2025 vs 2032 69
7 Company Profiles 70
7.1 BYD 70
7.1.1 BYD Company Information 70
7.1.2 BYD Introduction and Business Overview 71
7.1.3 BYD Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 71
7.1.4 BYD Electric Vehicle Product Offerings 71
7.2 Tesla 72
7.2.1 Tesla Company Information 72
7.2.2 Tesla Introduction and Business Overview 73
7.2.3 Tesla Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 73
7.2.4 Tesla Electric Vehicle Product Offerings 74
7.3 BMW 74
7.3.1 BMW Company Information 75
7.3.2 BMW Introduction and Business Overview 75
7.3.3 BMW Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 76
7.3.4 BMW Electric Vehicle Product Offerings 76
7.4 Volkswagen 77
7.4.1 Volkswagen Company Information 77
7.4.2 Volkswagen Introduction and Business Overview 77
7.4.3 Volkswagen Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 78
7.4.4 Volkswagen Electric Vehicle Product Offerings 78
7.5 Li Auto 79
7.5.1 Li Auto Company Information 79
7.5.2 Li Auto Introduction and Business Overview 79
7.5.3 Li Auto Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 80
7.5.4 Li Auto Electric Vehicle Product Offerings 80
7.6 SeresGroup 81
7.6.1 SeresGroup Company Information 81
7.6.2 SeresGroup Introduction and Business Overview 81
7.6.3 SeresGroup Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 82
7.6.4 SeresGroup Electric Vehicle Product Offerings 82
7.7 GEELY 82
7.7.1 GEELY Company Information 83
7.7.2 GEELY Introduction and Business Overview 83
7.7.3 GEELY Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 84
7.7.4 GEELY Electric Vehicle Product Offerings 84
7.8 Mercedes-Benz 85
7.8.1 Mercedes-Benz Company Information 85
7.8.2 Mercedes-Benz Introduction and Business Overview 85
7.8.3 Mercedes-Benz Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 86
7.8.4 Mercedes-Benz Electric Vehicle Product Offerings 86
7.9 VOLVO 87
7.9.1 VOLVO Company Information 87
7.9.2 VOLVO Introduction and Business Overview 88
7.9.3 VOLVO Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 88
7.9.4 VOLVO Electric Vehicle Product Offerings 88
7.10 SAIC 89
7.10.1 SAIC Company Information 89
7.10.2 SAIC Introduction and Business Overview 90
7.10.3 SAIC Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 90
7.10.4 SAIC Electric Vehicle Product Offerings 91
7.11 Hyundai & Kia 91
7.11.1 Hyundai & Kia Company Information 92
7.11.2 Hyundai & Kia Introduction and Business Overview 92
7.11.3 Hyundai & Kia Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 93
7.11.4 Hyundai & Kia Electric Vehicle Product Offerings 93
7.12 Stellantis 94
7.12.1 Stellantis Company Information 94
7.12.2 Stellantis Introduction and Business Overview 94
7.12.3 Stellantis Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 95
7.12.4 Stellantis Electric Vehicle Product Offerings 95
7.13 Great Wall Motors 96
7.13.1 Great Wall Motors Company Information 96
7.13.2 Great Wall Motors Introduction and Business Overview 96
7.13.3 Great Wall Motors Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 97
7.13.4 Great Wall Motors Electric Vehicle Product Offerings 97
7.14 Renault 98
7.14.1 Renault Company Information 98
7.14.2 Renault Introduction and Business Overview 98
7.14.3 Renault Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 99
7.14.4 Renault Electric Vehicle Product Offerings 99
7.15 Chery 100
7.15.1 Chery Company Information 100
7.15.2 Chery Introduction and Business Overview 101
7.15.3 Chery Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 101
7.15.4 Chery Electric Vehicle Product Offerings 101
7.16 NIO 102
7.16.1 NIO Company Information 103
7.16.2 NIO Introduction and Business Overview 103
7.16.3 NIO Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 104
7.16.4 NIO Electric Vehicle Product Offerings 104
7.17 TOYOTA 104
7.17.1 TOYOTA Company Information 105
7.17.2 TOYOTA Introduction and Business Overview 105
7.17.3 TOYOTA Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 106
7.17.4 TOYOTA Electric Vehicle Product Offerings 106
7.18 GAC Motor 107
7.18.1 GAC Motor Company Information 107
7.18.2 GAC Motor Introduction and Business Overview 107
7.18.3 GAC Motor Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 108
7.18.4 GAC Motor Electric Vehicle Product Offerings 108
7.19 XPeng 109
7.19.1 XPeng Company Information 109
7.19.2 XPeng Introduction and Business Overview 110
7.19.3 XPeng Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 110
7.19.4 XPeng Electric Vehicle Product Offerings 110
7.20 Leapmotor 111
7.20.1 Leapmotor Company Information 111
7.20.2 Leapmotor Introduction and Business Overview 112
7.20.3 Leapmotor Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 112
7.20.4 Leapmotor Electric Vehicle Product Offerings 112
7.21 Xiaomi Auto 113
7.21.1 Xiaomi Auto Company Information 113
7.21.2 Xiaomi Auto Introduction and Business Overview 114
7.21.3 Xiaomi Auto Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 114
7.21.4 Xiaomi Auto Electric Vehicle Product Offerings 115
7.22 Ford 115
7.22.1 Ford Company Information 115
7.22.2 Ford Introduction and Business Overview 116
7.22.3 Ford Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 116
7.22.4 Ford Electric Vehicle Product Offerings 117
7.23 BAIC 117
7.23.1 BAIC Company Information 117
7.23.2 BAIC Introduction and Business Overview 118
7.23.3 BAIC Electric Vehicle Sales, Revenue, Price and Gross Margin (2021-2025) 118
7.23.4 BAIC Electric Vehicle Product Offerings 119
8 Industry Chain Analysis 120
8.1 Electric Vehicle Upstream Analysis 120
8.1.1 Key Raw Materials 120
8.1.2 Raw Materials Key Suppliers 120
8.1.3 Manufacturing Cost Structure 121
8.2 Downstream Analysis (Customers Analysis) 121
8.3 Sales Model and Sales Channels 122
8.3.1 Electric Vehicle Sales Model 122
8.3.2 Sales Channel 122
8.3.3 Electric Vehicle Distributors 123
9 Research Findings and Conclusion 124
10 Appendix 126
10.1 Research Methodology 126
10.1.1 Methodology/Research Approach 126
10.1.2 Data Source 129
10.2 Author Details 132
10.3 Disclaimer 133