A recent report published by Infinium Global Research on high performance electric vehicle market provides an in-depth analysis of segments and sub-segments in the global as well as regional high performance electric vehicle market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional high performance electric vehicle market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global high performance electric vehicle market. According to the report, the global high performance electric vehicle market is projected to grow at a CAGR of 41.37% over the forecast period of 2019-2025.
As the global pollution levels are increasing and the crude oil reservoirs are depleting, demand for more fuel-efficient and lower-emission cars have increased. Electric vehicles are one of the promising alternatives to conventional fuel-driven cars. As electric vehicles evolved, their performance and efficiency have also improved. Development in electric vehicle technology opens new doors to a broad range of research and improvement possibilities which are being used to develop a high performance full-electric competition. The emergence of high performance electric vehicles has changed the dynamics of the electric vehicle industry. The high performance electric vehicles include SUVs, sports cars and hypercars.
The growing concerns regarding increasing pollution and environmental protection are the major driving factors for the growth of the high performance electric vehicle market. The rise in awareness among the population regarding the increasing level of pollution has encouraged the adoption of cars with lower emissions. Moreover, the implementation of stringent emission regulations has forced car manufacturers to produce low-emission or zero-emission cars. This, in turn, gives a thrust to the growth of the high performance electric vehicle market. Furthermore, the government initiatives in some countries including China, India, and Norway to subsidize the EVs have contributed to the growth of the high performance electric vehicle market. However, the high cost of components, which ultimately affects the overall cost of the vehicle is expected to hamper the growth of the high performance electric vehicles market. Nevertheless, the technological advancements in the field of motors and batteries have posed lucrative business opportunities for the players in the market.
In terms of geography, North America dominates the high performance electric vehicle market, accounting for the highest market share among the regions. The growth of North America's high performance electric vehicle market attributes to the rise in environmental concerns and the implementation of strict emission norms by the government. Moreover, the presence of the leading manufacturers including Tesla and Faraday Future in the region is anticipated to boost the growth of high performance electric vehicle market in North America.
The report on global high performance electric vehicle market covers segments such as drive type, and vehicle type. On the basis of drive type, the sub-markets include plug-in hybrid, and pure electric. On the basis of vehicle type, the sub-markets include passenger vehicle, and commercial vehicle.
The report provides profiles of the companies in the market such as Tesla, Inc., Daimler AG, Rimac Automobili, Faraday Future, Alkè s.r.l, and NIO Limited.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of high performance electric vehicle market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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