The High Performance Electric Vehicle Market is expected to grow from USD 78.90 billion in 2020 to USD 486.42 billion by 2026 at a CAGR of 22.01% from 2020 to 2026.
Electric high performance vehicles can be different from other electric vehicles on aspects such as longer range of distance that is over 90 miles in a single charge, which is majorly high compared to other commercially available electric vehicles. High performance also have high acceleration and can achieve a speed of over 90 miles per hour with a speed of 0 to 60 miles per hour, unlike that of electric vehicles, which can range at speeds varying from 40-65 miles per hour. The Global High Performance Electric Vehicles Market is majorly driven by an increase in global awareness about global warming and fossil fuel exhaustion. Electric cars produce instant torque and have great torque vectoring making them ideal for high-performance racing. The beginning of Formula E racing sports has emerged in more capital injected into research and to develop improved battery technology. Automobiles such as Tesla roadster x can run 0-100 km/hr. (0-62mph) is lesser than 2.09 seconds. High performance electric vehicles are also addressed the safety requirements of customers. The highest safety honor was awarded to Tesla by the Insurance Institute for Highway Safety. Some of the other prominent factors accelerating the market growth are growing environmental concerns, implementation of strict emissions and fuel economy standards, and increasing government initiatives, in respect of subsidies and advantages for developing the adoption rate of electric vehicles. Governments of developed economies across the world are providing monetary advantages such as zero to very minimum registration fee and exemption in import tax, purchase tax, and road tax. Apart from providing subsidies, governments are also providing favorable policies for the improvement of charging infrastructure which is contributing in the high performance electric vehicles market growth The federal Internal Revenue Service (IRS) tax credit is USD 2,500 to USD 7,500 for a new EV bought for use in the United States. On the other hand, the key impeding factor in an EV is the low energy lithium-ion battery pack. The electric vehicle has two risks such as low center of gravity and can catch fire because of battery. These factors hinder the growth of the High-performance EV market.
The significant fluctuations in the prices of fuel and the decrease in the subsidies provided on the plug-in hybrid vehicles in the major markets are impacting the sales of the vehicles. In contrast, various automakers are introducing the plug-in hybrid versions of the present vehicles, which implies that the market trend is switching to environment-friendly plug-in hybrid vehicles which is a key factor propelling the high performance electric vehicles market.
The global High Performance Electric Vehicle Market is segregated on the basis of Drive Type as Plug-in Hybrid and Pure Electric. Based on Vehicle Type the global High Performance Electric Vehicle Market is segmented in Passenger Cars and Commercial Vehicles.
The global High Performance Electric Vehicle Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The High Performance Electric Vehicle Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Ford, Renault, Nissan, Volkswagen, GM and others are among the major players in the global High Performance Electric Vehicle Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global High Performance Electric Vehicle Market has been segmented as below:
High Performance Electric Vehicle Market, By Drive Type
High Performance Electric Vehicle Market, By Vehicle Type
High Performance Electric Vehicle Market, By Region
High Performance Electric Vehicle Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global High Performance Electric Vehicle Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global High Performance Electric Vehicle Market share. Major industry players with significant revenue share include Ford, Renault, Nissan, Volkswagen, GM, Peugeot and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. High Performance Electric Vehicle Market, By Drive Type
5.1. Key Points
5.2. Plug-in Hybrid
5.3. Pure Electric
6. High Performance Electric Vehicle Market, By Vehicle Type
6.1. Key Points
6.2. Passenger Cars
6.3. Commercial Vehicles
7. Competitive Landscape
7.1. Introduction
7.2. Start-up companies- High Performance Electric Vehicle Market
7.3. Recent Developments
7.3.1. Mergers & Acquisitions
7.3.2. New Product Developments
7.3.3. Portfolio/Production Capacity Expansions
7.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
7.3.5. Others
8. Company Profile
8.1. Ford
8.2. Renault
8.3. Nissan
8.4. Volkswagen
8.5. GM
8.6. Peugeot
8.7. BYD
8.8. Zotye
8.9. BMW
8.10. Tesla
8.11. Kia
8.12. Rimac
8.13. Daimler
8.14. Phoenix Motor Cars
8.15. Mitsubishi
8.16. Cadillac
8.17. Toyota
8.18. Volvo
8.19. Hyundai
8.20. Honda
High Performance Electric Vehicle Market, By Drive Type
High Performance Electric Vehicle Market, By Vehicle Type
High Performance Electric Vehicle Market, By Company