Battery Electric Vehicles (BEV) Market Global Trends, Analysis and Forecast 2025

Posted by Faraz on February 8th, 2020

Battery Electric Vehicles Market size valued at over USD 150 billion in 2018 and is estimated to exhibit around 16% CAGR from 2019 to 2025.

Battery electric vehicles (BEVs) or fully electric vehicles are a type of electric vehicle (EV) that uses chemical energy stored in rechargeable battery packs. BEV uses electric motors and motor controllers instead of internal combustion engines (ICE) for propulsion. It draws all power from the battery pack, so there are no internal combustion engines, fuel cells or fuel tanks. BEVs include, but are not limited to, motorcycles, bicycles, scooters, skateboards, rolling stock, ships, forklifts, buses, trucks, and cars.

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The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers. The key manufacturers in this market include

  •          BMW
  •          Daimler
  •          General Motors
  •          Mitsubishi Motors
  •          Nissan Motor
  •          Renault
  •          Tesla Motors

Reduced vehicle emissions, government support, technological advances and increased awareness of low costs are key factors contributing to market growth. One of the key elements of the EV industry, battery technology, was the focus of continuous innovation. Initiatives to develop low-cost, fast-charge battery technologies that support long-range use seemed to yield promising results. The Asia-Pacific (APAC) region dominated the global electric vehicle battery market by value and held a 76.5% share in 2016. APAC car electric vehicle battery market is dominated by South Asian countries, consisting mainly of the largest automobile producers of the world.

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By the product type, the market is primarily split into

  •          Battery Electric Vehicle (BEV)
  •          Plug-in Hybrid Electric Vehicle (PHEV)

By the end users/application, this report covers the following segments

  •          Online Sales 
  •          Offline Sales

Geographic Coverage

  •          North America Market Size and/or Volume
  •          Latin America Market Size and/or Volume
  •          Europe Market Size and/or Volume
  •          Asia-Pacific Market Size and/or Volume
  •          Rest of the world Market Size and/or Volume

Key Questions Answered by Battery Electric Vehicles (BEV) Market Report

  1.        What was the Battery Electric Vehicles (BEV) Market size in 2018 and 2019; what are the estimated growth trends and market forecast (2019-2025).
  2.        What will be the CAGR of Battery Electric Vehicles (BEV) Market during the forecast period (2019-2025)?
  3.        Which segments (product type/applications/end-user) were most attractive for investments in 2018? How these segments are expected to grow during the forecast period (2019-2025).
  4.        Which manufacturer/vendor/players in the Battery Electric Vehicles (BEV) Market was the market leader in 2018?
  5.        Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market

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Joined: November 26th, 2019
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