Burlingame, CA, June 24, 2025 (GLOBE NEWSWIRE) — The global electric car market is estimated to be valued at US$ 427.41 Bn in 2025 and is expected to reach US$ 1,982.76 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 24.5% during the forecast period, as highlighted in a new report published by Coherent Market Insights. The global electric car market is projected to experience robust growth over the forecast period, fueled by government regulations and incentives promoting electric vehicle adoption, advancements in charging infrastructure, and increasing environmental awareness.
Request Sample Report: https://www.coherentmarketinsights.com/insight/request-sample/7429
Global Electric Car Market Key Takeaways
According to Coherent Market Insights (CMI), the global electric car market size is expected to grow more than 4.6 times, from USD 427.41 Bn in 2025 to USD 1,982.76 Bn by 2032.
Global demand for electric vehicles will likely increase at a prolific CAGR of 24.5% between 2025 and 2032.
By vehicle type, battery electric vehicles segment is projected to account for about USD 294 Bn by 2025.
Lithium ion battery segment is anticipated to account for more than three-fourths of the global electric car market share in 2025.
Based on range, 150-300 miles segment will likely hold a prominent share of 57.7% in 2025.
North America facial is anticipated to retain its dominance, holding more than two-fifths of the global electric car industry share in 2025.
Asia Pacific is projected to emerge as the fastest-growing market for electric cars during the forecast period.
Stricter Emission Regulations and Green Mobility Push Fueling Market Growth
Coherent Market Insights’ new electric car market report highlights prominent factors driving the industry’s growth. Implementation of stringent emission regulations and a global push for green mobility are some major drivers.
Governments worldwide are enforcing stringent CO₂ emission and pollution control regulations. As a result, automakers are transitioning from internal combustion engines to cleaner alternatives like EVs, leading to electric car market growth.
The push for green mobility and sustainable transportation solutions is significantly boosting electric vehicle demand. National incentives, tax breaks, and growing investment in EV infrastructure, such as charging stations, are enhancing consumer confidence and accessibility.
Immediate Delivery Available | Buy This Premium Research Report: https://www.coherentmarketinsights.com/insight/buy-now/7429
High Cost of Electric Cars Limiting Market Growth
The prospective electric car market outlook looks promising. However, high cost of electric cars, especially premium models, is limiting market growth to some extent.
Electric vehicles (EVs) are generally more expensive than traditional internal combustion engine (ICE) vehicles. This higher cost deters many consumers from choosing EVs, thereby reducing overall electric …