EVs a US$2.6 trillion market

The future is coming early for electric vehicles.

So says IDTechEx chairman and leading industry expert Dr Peter Harrop who has released a report Electric Vehicles 2020-2030 based on analysis of 100 sectors to 2030 which forecasts a US$2.6 trillion market and many new sectors.

Cars are about half the EV market, but electric buses and trucks will overtake them, the report suggests. IDTechEx identifies which car manufacturers may win and which are in danger.

Construction Agriculture Mining (CAM) is now a coherent EV sector, yet ignored by most EV analysts and component suppliers, Harrop says.

With sales of US$288 billion in 2030 and above average profitability, CAM EV is forecasted in 32 categories. New stuff includes intralogistics, micro-EVs, two-wheel and new EV trains, military, aircraft and marine EVs.

Cars get seven categories, including the new energy independent solar cars on sale. Buses and trucks have 13 forecasts as a coherent EV sector often involving the same manufacturers and with the new robot shuttle buses and several electric school bus types separated out. About 1.5 million school buses await electrification. Military and civilian marine and aircraft sectors get 30 forecasts.

Some are slicing through the car market like a cheese knife and it is party time for innovative startups, Harrop says. Colour changing cars, ones with energy storage bodywork, light-emitting glass that darkens at a touch? All have been demonstrated. Supercapacitor buses charging in 10 seconds? Already in seven countries.

Some EVs will have 1% of the parts of conventional equivalents due to four basic innovations. Hybrids will be wiped out by pure electric – learn when and why.

The report has more than 200 pages of distilled information largely as new infographics, forecast area graphs, comparative tables, and technology event timelines.

Briefly learn the definitions, types of hybrid and pure electric powertrain and where they are headed overall – not just for cars. In one infographic, four important applicational sectors are divided into 13 EV types serving them and the characteristics are compared.

Who is winning in the EV marketplace and why are others finding it so hard to catch up? What features closely correlate with commercial success? See good and bad EV strategies of 21 manufacturers against 13 proven drivers of business success.

Scope for mergers is presented between 29 players against their nine EV product categories, while 10 key enabling technologies for future EVs and how they will evolve over the years are explored.
Contact research@IDTechEx.com or visit www.IDTechEx.com/EV

for more information.