Global Automotive High-Performance Electric Vehicles Market Size, Share, and Trends Analysis Report, By Type (Plug-in Hybrid and Pure Electric) and Application (Passenger Vehicles and Commercial Vehicles), Forecast (2022-2028)

The global automotive high-performance electric vehicles market is anticipated to grow at a significant CAGR of 25.8% during the forecast period (2022-2028). The global automotive high-performance electric vehicles market is growing due to the rise in sales and production of electric vehicles globally. The increasing demand for safety features in electric vehicles such as adaptive cruise control, intelligent park assist, electronic stability control, automatic emergency braking, and blind-spot detection which helps in reducing road accidents is also boosting the demand for automotive high-performance electric vehicles devices. According to World Health Organization, around 1.25 million people die in road accidents every year. The increasing price of fuel globally is also boosting the global customers to shift from petrol or diesel vehicles to electric vehicles. The stringent government vehicle regulation for reducing emissions from vehicles is also driving the demand for automotive high-performance electric vehicles. The rise in technological advancement in electric vehicles with electronic components, such as sensors and smartphones, adaptive cruise control, and automatic driving system that are supported by wireless communication and cloud systems provides better surrounding information and improves the safety of the consumers, and is expected to propel the growth of the global automotive high-performance electric vehicles market in the forecast period.

The Asia-Pacific region is anticipated to hold the major share in the global automotive high-performance electric vehicles market. The increasing urbanization, as well as high demographic growth in this region, are boosting the market growth. The changing consumer lifestyle in emerging economic countries, such as China and India, is also boosting the growth in this region. The increasing sales and production of electric vehicles in countries is further boosting the growth of the Asia-Pacific automotive high-performance electric vehicles market in the forecast period.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new launches, to stay competitive in the market. For instance-

• In July 2021, Nissan announced the opening of EV36Zero with the partnership Envision AESC, a $1.26 billion flagship Electric Vehicle Hub creating a world-first EV manufacturing ecosystem in Sunderland, UK.
• In March 2022, Hyundai Motor Co. announced its plan to launch 11 new electric vehicles by the end of 2030.
• In April 2021, TOYOTA MOTOR CORP. announced the launch of battery electric vehicles as the establishment of a full line-up of electrified vehicles in Shanghai, China.

Market Coverage                                                                                                   

• The market number available for – 2022-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape – Tesla, Hyundai Motor Co., Mercedes-Benz Group AG, BMW of North America, LLC , and Nissan among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Automotive High-Performance Electric Vehicles Market Report by Segment

By Type

• Plug-in Hybrid
• Pure Electric

By Application

• Passenger Vehicles
• Commercial Vehicles

Global Automotive High-Performance Electric Vehicles Market Report by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa