New Energy Vehicles Accelerating the Electric Mobility Revolution
Executive Summary New Energy Vehicles Market : Share, Size & Strategic Insights Data Bridge Market Research analyses that the global energy new energy vehicles market which was USD 432 billion in 2022, would rocket up to USD 956 billion by 2030, and is expected to undergo a CAGR of 22.55% during the forecast period. This indicates the market value. The “PHEVs” dominates the energy type segment of the global energy new energy vehicles market as PHEVs serve as a transition technology between conventional internal combustion engine vehicles and fully electric vehicles. They offer a combination of an internal combustion engine and an electric motor with a larger battery pack than regular hybrids. This allows them to operate in electric-only mode for a significant range before switching to the combustion engine. As the market moves towards full electrification, PHEVs provide a familiar driving experience while reducing emissions and fuel consumption. In addition to the insights on...