Category Archives: Market Trend

The global electric vehicle market share has taken a tremendous leap forward in the past decade, and we expect the trend to only accelerate in the coming years.

Electric Vehicles Market was valued at US$ 115577 Million in 2022, and is projected to reach US$ 218657 Million by 2028, growing at a CAGR of 13.6% during the forecast period 2023-2028.

The global auto industry is undergoing a sea change, with implications for the energy sector, as electrification is set to avoid the need for 5 million barrels of oil a day by 2030

A survey has shown that more than half of Singaporean consumers are looking at electric vehicles as their next car purchase. And that’s also where the global car consumer market is trending towards. Not surprisingly, the driving force behind this decision is concern for the global environment.

The buzz about how climate change is affecting the world has turned the attention of major carmakers to accelerate their swing toward green vehicle models and make electric vehicles (EVs) that match up to the more common internal-combustion engine vehicles (ICEVs).

The increase in EVs on Singapore roads is no fluke, but rather the result of a multi-prong approach to fulfilling the Sustainable Singapore Blueprint by both public and private entities.