The electric vehicle market has moved well beyond early-adopter territory. According to the IG Transformation Partners research report, the global EV market size was USD 640 billion in 2025 and is projected to reach USD 1,919.4 billion by 2034, expanding at a 13% CAGR between 2026 and 2034. For automakers, battery suppliers, charging operators, fleet owners and investors, understanding where this growth comes from is now a strategic necessity rather than a nice-to-have.
This article breaks down t
