The global battery electric vehicle market is projected to grow at a considerable CAGR of more than 20.0% during the forecast period (2019-2025). The key factors contributing to the growth of the market include the target to curb carbon emission, charging infrastructure, government regulations, adoption of BEV, and supportive government incentives. According to the International Energy Agency, around 2.1 billion electric cars were sold in 2019 which represents a growth of 6% from the previous year. The sustainable development target of the EV30@30 campaign to reach a 30% market share of electric vehicles by 2030 further supports the global battery electric vehicle industry growth.
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A full report of Battery Electric Vehicle Market is available at: https://www.omrglobal.com/industry-reports/battery-electric-vehicle-bev-market
Apart from this, as per the International Energy Agency, in 2019 there were around 7.3 million chargers globally out of that 6.5 million were light-duty vehicle slow chargers at home and others. The charging infrastructure is also growing rapidly due to its cost-effectiveness and rebates are available for the purchase of the private chargers. China is leading in the publicly accessible chargers. Besides, till June 2020, 17 countries have announced to have zero-emission vehicles by 2050. As per the European Automobile Manufacturers Association, in 2019, Europe has shown a growth of 80% in sales of BEV, and other countries have registered a growth of more than 100% YoY including Denmark, Finland, Greece, Italy, and others.
Market Coverage
- Market number available for – 2018-2025
- Base year- 2018
- Forecast period- 2019-2025
- Segment Covered- By Vehicle Type and By Battery Type
- Region Covered- North America, Europe, Asia-Pacific, Rest of the world
- Competitive Landscape- SAIC Motor Corp. Ltd., BAIC Group, BYD Auto Co., Ltd., Hyundai Motor Co., Kia Motors Corp., Toyota Motor Corp., Tesla Inc., Jaguar Land Rover Ltd., Nissan Motor Co., Renault Group, Volkswagen AG, Daimler AG, and Mitsubishi Motors Corp.
Key Questions Addressed by the Report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Battery Electric Vehicle Market Report Segment
By Vehicle Type
- Passenger Cars
- Commercial Vehicle
- Two-Wheeler
By Battery Type
- Li-Ion
- Others
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
