The Market Reports

Synopsis
The global market for Electric Vehicles and Fuel Cell Vehicles was estimated to be worth US$ 544654 million in 2024 and is forecast to a readjusted size of US$ 1665510 million by 2031 with a CAGR of 15.3% during the forecast period 2025-2031.
This report provides a comprehensive assessment of recent tariff adjustments and international strategic countermeasures on Electric Vehicles and Fuel Cell Vehicles cross-border industrial footprints, capital allocation patterns, regional economic interdependencies, and supply chain reconfigurations.
Electric vehicles (EVs) are vehicles powered entirely or partially by electricity, typically stored in rechargeable batteries. They use electric motors for propulsion and produce zero tailpipe emissions, making them more environmentally friendly than traditional internal combustion engine vehicles. EVs include battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs).
Fuel cell vehicles (FCVs), also known as hydrogen fuel cell vehicles, generate electricity on board using a chemical reaction between hydrogen and oxygen in a fuel cell stack. This electricity powers the electric motor, with water vapor as the only emission. FCVs offer longer driving ranges and quicker refueling compared to battery electric vehicles, and are considered a promising solution for clean transportation, especially in long-haul and commercial vehicle applications.
The market for electric vehicles and fuel cell vehicles is undergoing significant transformation driven by advancements in clean energy technologies, growing environmental awareness, and evolving transportation policies. Electric vehicles have seen widespread adoption in urban and passenger transport due to their lower operating costs, mature charging infrastructure, and improving battery technologies. In many regions, EVs are rapidly replacing conventional vehicles as governments and consumers prioritize zero-emission mobility.
Fuel cell vehicles, while still in the early stages of commercialization compared to EVs, are gaining attention for their potential in long-range, heavy-duty, and high-utilization scenarios such as logistics, public transit, and commercial fleets. Their shorter refueling times and consistent performance in cold or extreme conditions offer clear advantages where battery-only solutions face limitations. The development of hydrogen production and refueling infrastructure is critical to unlocking FCV growth, and various industries are investing in integrated supply chains to support this.
In China, both EVs and FCVs are part of a broader national strategy to promote green transportation and reduce dependence on fossil fuels. The domestic market has become a global leader in electric vehicle production, innovation, and adoption. Meanwhile, pilot programs and regional initiatives are steadily expanding the presence of fuel cell vehicles, particularly in sectors like buses, logistics vehicles, and port transportation. As technologies continue to mature, the integration of EVs and FCVs is expected to play a complementary role in building a diversified and sustainable transport system.
This report aims to provide a comprehensive presentation of the global market for Electric Vehicles and Fuel Cell Vehicles, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Electric Vehicles and Fuel Cell Vehicles by region & country, by Type, and by Application.
The Electric Vehicles and Fuel Cell Vehicles market size, estimations, and forecasts are provided in terms of sales volume (K Units) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Electric Vehicles and Fuel Cell Vehicles.
Market Segmentation
By Company
Tesla
BYD
Volkswagen
BMW
Mercedes-Benz
Stellantis
SAIC
VOLVO
Hyundai & Kia
Renault
GEELY
GAC Motor
NIO
ONE
Ford
XPeng
Chery
TOYOTA
Leapmotor
Great Wall Motors
Nissan
Seres Auto
AION
Segment by Type
BEV
PHEV
Fuel Cell Vehicle
Segment by Application
Home Use
Commercial Use
By Region
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Europe
Germany
France
U.K.
Italy
Netherlands
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Electric Vehicles and Fuel Cell Vehicles manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Electric Vehicles and Fuel Cell Vehicles in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Electric Vehicles and Fuel Cell Vehicles in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

Index