Electric Car Market: Market Size, Demand Drivers, Competitive...

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2025-08-21 12:09:01

Electric Car Market: Market Size, Demand Drivers, Competitive Landscape & Forecast

The global electric car market reached USD 412 billion in 2023 and is projected to grow to USD 1,550 billion by 2032, expanding at a CAGR of 15.7% during 2024–2032. The market is driven by rising demand for sustainable mobility, government subsidies for EV adoption, rapid expansion of charging infrastructure, and advancements in battery technology. China dominates with over 55% market...

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