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Electric Vehicle Market to Reach $1.46 Trillion by 2032 Driven by Falling Battery Costs and Expanding Fleet Electrification, Says Mordor Intelligence
GlobeNewswire Inc.·
The global EV market is projected to grow from $0.86 trillion in 2027 to $1.46 trillion by 2032 at a CAGR of 11.2%, driven by declining battery costs, stricter efficiency requirements, and fleet electrification. Asia-Pacific leads regional growth, while challenges include charging infrastructure delays and critical mineral price fluctuations.
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