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Efficiency of market structure: The electric vehicle (EV) industry. Purpose: This study explores the market structure of the electric vehicle (EV) industry and its impact on various types of market efficiency: allocative, productive, and dynamic. Design/methodology/approach: The EV market, which has experienced rapid growth in recent years, operates in a mixed-market structure that combines both oligopolistic and fully competitive segments. This study examines the role of major players and emerging startups in niche markets through a comprehensive analysis of the literature, industry reports, and market data. Findings: This study finds that allocative efficiency is difficult to achieve in the EV sector because of the price-setting power of dominant firms. This is realised through economies of scale and technological innovation, while dynamic efficiency is driven by competition among major players. The analysis also shows that while large companies benefit from economies of scale and drive innovation, smaller players struggle to achieve market share because of high barriers to entry, including capital investment and technological expertise. Despite the growth of the EV market, internal combustion engine (ICE) vehicles continue to dominate the automotive industry because of factors such as lower purchase prices and well-established infrastructure supporting them. Originality and value: This study concludes by highlighting the crucial role of government policies and technological innovations in the ongoing transformation of the EV industry.