The global automotive market is undergoing a remarkable transformation with the rise of Electric Vehicles (EVs) and Fuel Cell Vehicles (FCVs) as environmentally friendly alternatives to traditional fossil fuel-powered cars. EVs operate on electricity stored in batteries, while FCVs utilize hydrogen to generate electricity through fuel cells, both aiming to reduce carbon emissions and dependence on non-renewable energy sources. A recent BCC Research study projects a significant Compound Annual Growth Rate (CAGR) of 18.6%, forecasting the market for EVs and FCVs to escalate from $758.0 billion in 2024 to a substantial $1.8 trillion by 2029. The report delves into various aspects of these vehicles, including propulsion and vehicle types, power sources, technology advancements, regulations, market dynamics, and key player rankings. Key highlights from the report include the noteworthy decrease in the average cost of lithium-ion batteries, a surge in global electric car sales, and the dominance of the U.S., China, and Europe in the electric and fuel cell vehicle markets. Factors driving this growth include the increasing affordability of electric cars, propelled by falling battery costs, higher petroleum prices steering consumers towards EV options, and the establishment of more charging infrastructure. Market segmentation covers propulsion type (BEVs, HEVs, PHEVs, FCEVs), vehicle types (passenger cars, two-wheelers, trucks, buses), and power sources (lead-acid, nickel metal hydride, lithium-ion batteries, fuel cells). Noteworthy regional analysis includes North America, Europe, Asia-Pacific, and Rest of the World regions. The promising future of sustainable transportation is evident through the positive market outlook for EVs and FCVs. The report indicates a shift towards greener mobility solutions driven by environmental consciousness, technological advancements, and changing consumer preferences, marking a significant milestone in the automotive industry's evolution towards a more sustainable future.