BRIC Countries (Brazil, Russia, India, China) Hybrid and Electric Cars Market Summary, Competitive Analysis and Forecast, 2017-2026
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The BRIC countries, which include Brazil, Russia, India, and China, contributed $107.02 billion in 2021 to the global hybrid & electric cars industry. The hybrid & electric cars industry is expected to grow at a CAGR of more than 22% during 2021-2026. The BRIC countries hybrid & electric cars market research report provides top-line qualitative and quantitative summary information including market size and forecast. The profile also contains descriptions of the leading players including key financial metrics and an analysis of competitive pressures within the market.
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Key Nation in the BRIC Countries Hybrid and Electric Cars Market
The BRIC countries include Brazil, Russia, India, and China. China is leading the BRIC countries hybrid & electric cars market in terms of revenue.
Brazil
The market is set to follow a double-digit growth during the forecast period as the adoption of hybrid and electric cars will continue to increase, driven by increasing affordability and a greater number of offerings, also facilitated by government incentives and expanding infrastructure.
Hybrid and electric car adoption has been strongly increasing in recent years thanks to their increasing affordability, the growing availability of new offerings with improved range capacities, and the continuous expansion of charging infrastructure.
China
The Chinese market saw decelerated sales growth in 2021 compared to 2020. Although consumer confidence improved during 2021, as the COVID-19 pandemic had receded, pent-up demand was largely exhausted during the second half of 2020. Moreover, the COVID-19 pandemic exacerbated the already strenuous supply conditions in the semiconductor industry, on which the automotive industry and particular electric cars are reliant for crucial input parts.
Additionally, in a bid to relieve the impact of the pandemic and support the market and the local automotive industry, the government announced that the purchase of electric cars and plug-in hybrids will remain exempt from VAT until the end of 2022, extending the initial plan of ending it after 2020.
India
The Indian market saw decelerated sales growth in 2021 compared to 2020. However, the sales of hybrid and electric cars will continue to grow strongly over the coming years given that the market is set to expand both in demand and supply terms.
Russia
The share of hybrid and electric car sales has grown from 2017 to 2021, according to in-house research, indicating a relatively adoption rate compared to other markets. Automakers have revealed concrete plans of ramping up their production of electric vehicles over the coming years in an effort to align with the transition to a low-carbon economy. Accordingly, the increased number of offerings for consumers is set to stimulate sales.
Leading Nation in the BRIC Countries Hybrid and Electric Cars Market, by Revenue
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Key Company in the BRIC Countries Hybrid and Electric Cars Market
There are many companies in the BRIC countries hybrid and electric cars such as Toyota Motor Corporation, Bayerische Motoren Werke AG, General Motors Company, BYD Company Limited, BAIC Motor Corporation Ltd, SAIC Motor Corp Ltd, Tesla, Inc., Tata Motors Limited, Hyundai Corporation, and Volkswagen AG.
Toyota Motor Corporation
Toyota Motor Corporation (Toyota or ‘the company’) is a manufacturer and seller of motor vehicles. The company is headquartered in Toyota City, Aichi, Japan.
Tesla
Tesla, Inc. (Tesla or ‘the company’) is a US-based automotive company that designs, manufactures, and markets electric vehicles, components, and energy storage and generation systems. The company is headquartered in Palo Alto, California, the US.
General Motors Company
General Motors Company (GM or ‘the company’) is engaged in the design, development, production, and marketing of cars, trucks, and automobile parts. The company is headquartered in Detroit, Michigan, US.
Volkswagen AG
Volkswagen AG (Volkswagen or ‘the group’) is an automobile manufacturer and car manufacturer in Europe. It has manufacturing facilities in Salzgitter, Germany, and China. Volkswagen has a business presence in the Americas, Europe, Asia-Pacific, and the Middle East. The company is headquartered in Wolfsburg, Germany.
Market Report Overview
Market Size 2021 | $107.02 billion |
CAGR % (2021-2026) | >22% |
Key BRIC Countries | Brazil, Russia, India, and China |
Leading country | China |
Key Companies | Toyota Motor Corporation, Bayerische Motoren Werke AG, General Motors Company, BYD Company Limited, BAIC Motor Corporation Ltd, SAIC Motor Corp Ltd, Tesla, Inc., Tata Motors Limited, Hyundai Corporation, and Volkswagen AG |
Scope
- Save time carrying out entry-level research by identifying the size, growth, and leading players in the BRIC hybrid & electric car industry
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the BRIC hybrid & electric car industry
- Leading company profiles reveal details of key hybrid & electric car industry players’ BRIC operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the BRIC hybrid & electric car Industry with five year forecasts by both value and volume
- Compares data from Brazil, Russia, India, and China, alongside individual chapters on each country
Reasons to Buy
The report includes:
- The size of the BRIC hybrid & electric car industry by value in 2021
- The size of the BRIC hybrid & electric car industry in 2026
- Factors are affecting the strength of competition in the BRIC hybrid & electric car industry
- The industry performance over the last five years
- The top competitors in the BRIC hybrid & electric car industry
Bayerische Motoren Werke AG
General Motors Company
BYD Company Limited
BAIC Motor Corporation Ltd
SAIC Motor Corp Ltd
Tesla, Inc.
Tata Motors Limited
Hyundai Corporation
Volkswagen AG
Table of Contents
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Frequently asked questions
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What was the size of the BRIC countries hybrid and electric cars market in 2021?
The BRIC countries contributed $107.02 billion to the global hybrid and electric cars industry in 2021.
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What is the growth rate of the BRIC countries hybrid and electric cars market?
The countries are expected to accelerate at a CAGR of more than 22% over the forecast period.
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Which countries are included in the BRIC nations hybrid and electric cars market?
Brazil, Russia, India, and China are included in the BRIC countries hybrid and electric cars market.
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Which country will be leading the BRIC nations hybrid and electric cars market in terms of revenue?
China will be leading the BRIC countries hybrid and electric cars market in terms of revenue.
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What are the key companies in the BRIC countries hybrid and electric cars market?
There are many companies in the BRIC countries hybrid and electric cars markets such as Toyota Motor Corporation, Bayerische Motoren Werke AG, General Motors Company, BYD Company Limited, BAIC Motor Corporation Ltd, SAIC Motor Corp Ltd, Tesla, Inc., Tata Motors Limited, Hyundai Corporation, and Volkswagen AG.
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