The global market size for electric vehicles is speculated to be 567.2 billion US dollars in 2026. The market size is definitely doubling up and as the number is steadily increasing, so does the market value of electric vehicles across the world.
As per a survey by IEA and EV-Volumes.com, there has been a steep rise in the sale of plug-in electric vehicle across the world. The vehicles have been sold in millions of units across different countries.
The result depicts the rising demand of the PHEV and the steep rise shows the growth in the sales of the PHEV. The registration of battery electric vehicles and plug-in hybrid vehicles can be seen in a good percentage share across the different countries.
The survey result shows the Norway market being in the top position with high number of registrations for new electric vehicles. The result may be due to supporting policies or incentives from the Norwegian government.
Source:- Statista (Electromobility market in Europe)