The global battery electric vehicle market is estimated to grow at a CAGR of more than 20.0% during the forecast period. Significant growth in the electric vehicle market have been witnessed in the last decade while in the last couple of years, a trend of shifting from hybrid electric vehicle & plug-in hybrid electric vehicle to BEV has been observed. As per the International Energy Agency, around 2 million electric cars were sold in 2018 and out of this more than 1.3 million was BEV.
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The major factor contributing to the growth of the battery electric vehicle market includes encouraging government regulations, financial backing on the electric vehicle by the government, development of charging infrastructure, and stringent target to curb the carbon emission. Moreover, increasing traveling range of the BEV due to the technological advancement of the batteries is another major factor for the adoption of BEV globally. Besides, high prices of the BEVs and lack of charging infrastructure in the developing economies such as India and Brazil are some of the major restraining factors for the market. In addition, emergence of alternative technology such as Fuel cell electric vehicles can also challenge the growth of the market in the developed economies such as the US and Japan.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Battery Electric Vehicle Market by Vehicle Type
- Passenger Car
- Commercial Vehicle
- Others
Global Battery Electric Vehicle Market by Battery Type
- NiMH
- Li-Ion
- Others
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Audi AG
- BAIC Group
- BMW AG
- BYD Auto Co., Ltd.
- Chery Automobile Co., Ltd.,
- Fiat Chrysler Automobiles N.V.
- Ford Motor Co.
- General Motors Co.
- Great Wall Motors Co. Ltd.
- Groupe PSA
- Honda Motor Co., Ltd.
- Hyundai Motor Co.
- Jaguar Land Rover Ltd.
- Kia Motors Corp.
- Nissan Motor Co.
- Renault Group
- SAIC Motor Corp. Ltd.
- Tesla, Inc.
- Toyota Motor Corp.
- Volkswagen AG
The Report Covers
- Comprehensive research methodology of the Global Battery Electric Vehicle Market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Global Battery Electric Vehicle Market.
- Insights about market determinants which are stimulating the Global Battery Electric Vehicle Market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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