Battery electric vehicle market is estimated to grow at a CAGR of 20.0% during the forecast period. Significant growth in the electric vehicle market has been witnessed in the last decade while in the last couple of years, a trend of shifting from hybrid electric vehicles & plug-in hybrid electric vehicles to BEVs 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 were BEV.
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The market is studied based on vehicle type and battery type. Based on vehicle type, the market is further segmented into commercial vehicles, passenger cars, and others. The passenger battery electric vehicle market is expected to hold the largest share during the forecast period. Based on battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Li-ion battery cars is projected to cover a major market share during the forecast period.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- 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
- MW 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
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global BEV market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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