Share: The Electric Vehicle Market is experiencing significant growth over the forecast period. This is attributed to the rising demand for high-performance and fuel-efficient vehicles, an emerging trend towards eco-friendly electric vehicles and their components, and the increasing awareness to reduce oil consumption. The rigorous government norms regarding vehicle emission, augmenting awareness to decrease oil consumption, and rising demand for fuel-efficient and high-performance vehicles are the drivers stimulating the growth of the global electric vehicle market. Also, the boost in investment of production of electric vehicle by leading companies like Hyundai Motor Company, Nissan Motor Company, BAIC Motor Corporation, General Motors Company, Daimler AG, and BMW Group will fuel the market growth. The surging consumer satisfaction, like home charging options for electric vehicles, along with the renewable energy sources, which include a solar photovoltaic system used to recharge electric vehicles, will raise the market demand.