Published on : Apr 12, 2017
Albany, New York, April 12, 2017: The report presents an in-depth analysis of the market and finds that it will progress at a stellar CAGR of 37.63% from 2017 to 2021. According to the report, one of the main factors driving the global market for high-performance electric vehicle is the strict regulations pertaining to emissions and fuel efficiency. Such vehicles help in bringing down air pollution and noise pollution and aid in improving overall performance. Other factors promoting the market are tax rebates and credits provided by governments and tumbling prices of Li-on batteries. Additionally, development of charging infrastructure will further augment the market’s growth.
Posing a hindrance to the progress of the global high-performance electric vehicle market is the range anxiety, which is worries over the fact that the vehicle won’t have enough stored power to handle daily driving. Besides, problems with replacement schedules, steep cost of ownership, and a not-so-developed after-sales and distribution network are also serving as bottlenecks to the market’s healthy growth.
Some of the noticeable trends in the global market for high-performance electric vehicle is the use of FVC technology for extending the range in the vehicles, soaring popularity of high density, high powered small-sized Li-ion batteries, and rising use of ultra-capacitors in energy storage system. The zero emission vehicle alliance (ZEV Alliance) encouraging adoption of vehicles with zero emission is another trend to watch out in the market.
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Having discussed the growth drivers, restraints, and important trends, the report goes on to segment the global market for high performance electric vehicles based on different parameters. Depending upon the type of vehicle, for example, it divides the market into entry-level vehicles, premium vehicles, luxury vehicles, and SUVs. Among them, the premium vehicles are clocking maximum sales, particularly in developed rich countries of North America and Europe.
Depending on geography again, the report classifies the market into Asia Pacific, North America, and Europe. North America, of them, holds a leading position due to both the government and the private sector encouraging the use of battery-operated electric vehicles owing to the little impact they have on the environment. So far, the U.S. and Norway have been frontrunners in terms of demand.
The report, prepared after thorough analysis, calculates the size of the market by tallying up the sales of high-performance electric vehicles in different regions. It leverages market-leading analytical tools such as Porter’s Five Forces to understand the competitive dynamics in the market. To assess the competition in the market, it profiles important participants such as Daimler, Honda, BMW, NISSAN MOTOR, Hyundai Motor, Tesla Motors, General Motors. Audi, and Volkswagen.
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