Global Electric Vehicle market likely to reach $2,108 billion by 2033 as consumer demand eyes sustainability

The global electric vehicle (EV) market, which is valued at $255 billion as of 2023, is expected to reach $2,108 billion by 2033, reported the news agency ANI, citing an Axis Securities report on Saturday, September 28. The growth will be fueled by a compound annual growth rate (CAGR) of 23 per cent from 2024 to 2033, reflecting the increase in global demand for sustainable mobility solutions, as per the report.