"Rising Environment Protection Concerns Aiding the Battery Electric Vehicles (BEVs) Market Growth Positively"

The Battery Electric Vehicles (BEVs) market worldwide was valued at US$ 89.15 Bn in 2017, and is expected grow at a CAGR of 20.6% from 2018 to 2026. Available resource limitations of oil and rising environmental concerns have led automobile manufacturers to design and develop alternative fuel vehicles. This factor has positively influenced the BEVs market growth. As these vehicles do not generate pollutants and greenhouse gases, therefore the demand for such vehicles have been on the rise in recent years. Moreover, improvement in supporting infrastructure is another important factor contributing to the overall market growth of BEVs. Governments across various countries have been instrumental in providing support through incentive programs and taxes in order to drive the sales of BEVs.

"Lithium-ion Battery Segment to Witness the Fastest Growth in the Coming Years"

In terms of battery type, the li-ion battery segment expected to register the fastest CAGR during the forecast period from 2018 to 2026. In recent years, li-ion batteries have emerged as the most preferred choice of batteries for BEV manufacturers. Factors such as high charge retention capacity, low maintenance cost and high energy density are some of the most prominent factors contributing to the lithium-ion battery segment growth. However, drawbacks in the form of high cost and safety pertaining to overheating and overcharging remains for these batteries.

"Asia Pacific to Remain the Most Lucrative Market for Investment for BEV Manufacturers"

In terms of growth rate, the Asia Pacific market expected to witness the fastest growth during the forecast period from 2018 to 2026. China expected to play a crucial role towards this growth. The country was the largest market for battery electric vehicles in 2017 worldwide and the adoption of BEVs in the country has been growing at a very rapid rate. Rising concerns related to energy security and incentives on use of battery-powered vehicles are some of the most prominent factors aiding the battery electric vehicle market growth in region.

Key players profiled in the report include General Motor Company, BYD Company Limited, Tesla, Renault-Nissan, Toyota, Kia Motors, Volkswagen, BMW, Hyundai and Chevrolet.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Battery Electric Vehicles (BEVs) market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Battery Electric Vehicles (BEVs) market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Battery Electric Vehicles (BEVs) market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Battery Electric Vehicles (BEVs) market?
• Which is the largest regional market for Battery Electric Vehicles (BEVs) market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Battery Electric Vehicles (BEVs) market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Battery Electric Vehicles (BEVs) market worldwide?