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
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
By the end users/application, this report covers the following segments
Key Questions Answered by Battery Electric Vehicles (BEV) Market Report
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About the AuthorFaraz
Joined: November 26th, 2019
Articles Posted: 232
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