New York, Dec. 09, 2021 (GLOBE NEWSWIRE) — Electric Vehicle Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Electric Vehicle Market Research Report, Technology, Vehicle Type and Region – Forecast till 2030”, the market is projected to be worth USD 957.42 billion by 2030, registering a CAGR of 24.51% during the forecast period (2022 – 2030). , The market was valued at USD 208.95 billion in 2021.
Market Research Future’s Review on Electric Vehicle Market
Several Factors Contributing to Market Growth
One of the most modern technologies, electric vehicles with the most up-to-date characteristics, is causing a rapid development in the automobile business. The government is actively supporting the electric vehicle market by enacting favorable rules and providing subsidies to the electric vehicle sector and automobile makers in order to lower pollution rates. Tax breaks, non-monetary benefits such as new car registration and carpool lane access, increased vehicle range, active participation of OEMs, provision of…