Luxury Electric Vehicles Market Statistics 2023 to 2032
The global luxury electric vehicles market size is worth around USD 223.05 billion in 2024, calculated at USD 263.25 billion in 2025, and is projected to touch around USD 839.57 billion by 2032. The sector is registering a double digit CAGR of 18.02% from 2023 to 2032.
Luxury Electric Vehicles Market Statistics
- Asia-Pacific dominated the market with the largest market share of 61% in 2022.
- The battery electric vehicle segment contributed the largest market share of 65% in 2022. Additionally, the fuel cell electric vehicle is expected to hold a significant market share in the forecast period.
- The car segment led the market and generated the biggest market share of 91% in 2022.
- The vans segment is projected to grow at a notable CAGR of 22% from 2023 to 2032.
Programmes, Campaigns and Declarations
| Program | Purpose |
| EV30@30 | It goal of accelerating the deployment of electric vehicles with a target of at least 30 percent new electric vehicle sales by 2030. |
| Call to Action to Closing the Gap | It is a call to close the gap between projected levels of EV sales in 2030 based on existing policies and the global sales |
| Go Electric Campaign | The objective of this campaign is to create awareness among masses about benefits of switching over to Electric Vehicles (EVs) |
| Zero-Emission Government Fleet Declaration | The Zero-Emission Government Fleet Declaration is a commitment to reduce carbon and air pollutant emissions from government vehicles and transition to clean transportation. |
Meet Mahima, a voice you’ll want to follow in the electric vehicle (EV) industry. With a rich background in journalism and mass media, Mahima doesn’t just report the facts; she tells the story behind the revolution. Her expertise of over four years in writing positions her uniquely as someone who knows how to engage, inform, and inspire her audience. Whether she’s diving into the latest EV technologies or exploring the future of sustainable mobility, Mahima delivers insights that go beyond the surface, making her work a must-read for enthusiasts, professionals, and curious readers alike.
In every article, blog, or feature, she brings a human touch to the world of electric vehicles. She weaves narratives that highlight how the shift toward electrification is transforming economies, reshaping consumer preferences, and pushing the boundaries of innovation. Her sharp analytical skills allow her to see connections others might miss, offering fresh perspectives on trends that are shaping the automotive landscape.
