Electric Mobility Market Report 2026

The electric mobility market size has grown rapidly in recent years. It will grow from $657.19 billion in 2025 to $743.03 billion in 2026 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to government incentives for electric vehicles, rising fuel cost volatility, urban congestion challenges, early adoption of electric scooters and bikes, improvements in lithium-ion battery technology.

The electric mobility market size is expected to see rapid growth in the next few years. It will grow to $1.2 trillion in 2030 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to increasing investments in charging infrastructure, rising adoption of smart connected electric vehicles, expansion of shared electric mobility services, growing focus on battery recycling solutions, increasing penetration of electric mobility in emerging markets. Major trends in the forecast period include increasing adoption of battery-powered two-wheelers, rising deployment of urban electric mobility solutions, growing focus on battery performance and range optimization, expansion of charging infrastructure integration, enhanced focus on lightweight electric vehicle design.

The rising demand for electric vehicles is expected to drive the growth of the electric mobility market in the coming years. Electric vehicles (EVs) are automobiles primarily or entirely powered by electricity stored in rechargeable batteries. They play a crucial role in reducing greenhouse gas emissions, air pollution, and reliance on fossil fuels, thus contributing to a more sustainable and environmentally friendly transportation system that fosters electric mobility. For example, in April 2024, CITAevcharger, a UK-based smart electric vehicle solutions provider, reported that the UK now has 1,000,000 fully electric vehicles (EVs) on its roads, reflecting an impressive 18% increase in battery-electric car registrations during 2023. Electric cars accounted for 15.2% of new car registrations in March 2024, marking a substantial 40% rise compared to 2022, when only 265,000 battery-electric cars were registered. Moreover, projections suggest that the UK will need approximately 2.3 million charging points by 2030 to support this expanding market. Consequently, the increasing demand for electric vehicles is fueling the growth of the electric mobility market.

Major companies in the electric mobility market are strategically focusing on advancements in electric mobility to gain a competitive advantage. An integrated E-powertrain system, which unifies the motor, power electronics, and energy storage components, plays a crucial role in efficiently propelling electric vehicles. For example, in May 2023, Germany-based technology company ZF Friedrichshafen AG introduced AXTrax 2, a modular, integrated, axle-based e-powertrain system designed for the electrification of various commercial vehicles. This system facilitates communication and data exchange about e-axle systems through the controller area network bus, enabling advanced digital and telematics systems. The AxTrax 2 replaces traditional components such as the engine, transmission, driveshaft, differential, and conventional axle to electrify commercial vehicles, maximizing space for batteries and enhancing design flexibility for future electric mobility concepts.

In March 2023, Shell USA Inc., a U.S.-based energy and mobility services provider, acquired Volta Inc. for about $169 million. Through this acquisition, Shell sought to expand and scale its public electric vehicle (EV) charging network across the United States, strengthen its position in the growing EV infrastructure market, and broaden its mobility portfolio beyond conventional fuels. Volta Inc. is a U.S.-based electric vehicle charging and media network technology company that focuses on operating a public EV charging network featuring integrated digital advertising displays, along with a development pipeline of additional charging locations at high-traffic destination sites.

Major companies operating in the electric mobility market are Volkswagen AG, Toyota Motor Corporation, Mercedes-Benz Group AG, Ford Motor Company, General Motors Company, Bayerische Motoren Werke AG, Honda Motor Co. Ltd., SAIC Motor Corp. Ltd., Robert Bosch GmbH, Hyundai Motor Company, Hitachi Ltd., Tesla Inc., Siemens AG, Nissan Motor Co. Ltd., Panasonic Corporation, BYD Company Ltd., AB Volvo, Renault Group, Contemporary Amperex Technology Co. Limited, ZF Friedrichshafen AG, Continental AG, Tata Motors Limited, Magna International Inc., Denso Corporation, Mitsubishi Electric Corporation, ABB Ltd., Beijing Automotive Group Co. Ltd., Valeo SA, LG Energy Solution Ltd., BorgWarner Inc.

Asia-Pacific was the largest region in the electric mobility market in 2025. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the electric mobility market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electric mobility market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The electric mobility market consists of sales of electric vehicles, electric vehicle components such as electric motors, traction battery packs, and charge port and replacement parts. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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