With the increasing focus of governments and EV manufacturers on investing in EV charging infrastructure, the market is expected to register a CAGR of 29% during the forecast period from 2023-2050. The revenue of the market is projected to increase from US$ 34.3 Bn in 2022 to US$ 33,284 Bn by the end of 2050.
During the forecast period, the ASEAN automotive insurance market size is projected to grow at a CAGR of more than 5.6%. A study on the ASEAN automotive insurance market analyzes the growth prospects, restraints, and key trends. In addition to Porter's five forces analysis, this study also examines the influence of various factors.
The global electric vehicle market was valued at US$ 340.2 billion in 2023 and is estimated to witness a major leap forward in revenue to US$ 72,798 billion by 2050. The market is registering a CAGR of 21.99% during the forecast period 2023-2050. In terms of volume, the market is registering a CAGR of 21.73% during the forecast period.
India bearings market size was valued at US$ 2,179.9 million in 2023 and is projected to reach US$ 6,714.8 million by the end of 2032. The market is registering growth at a CAGR of 13.5% during the forecast period 2024-2032.