Battery Electric Vehicle Market Growth Analysis & Forecast Report | 2023-2032

 

As per a recent research report, Battery Electric Vehicle Market surpass USD 1 Trillion by 2032.

The increasing need for cost-effective, eco-friendly transportation options in Asia Pacific will work as a key driver behind BEV market growth. Recently, the government of Japan unveiled subsides for green vehicles such as BEVs, fuel cell electric vehicles, and others to incentivize customers to make their next car an EV. Apart from introducing such schemes, many governments in the region are also rolling out stringent regulations pertaining to vehicle emissions, further pushing customer inclination towards battery electric vehicles.

Request for Sample Copy report @  https://www.gminsights.com/request-sample/detail/3181

The regulations and incentives are also pushing fleet operators in the region to substitute their conventional ICE powered automobiles with fully electric options. The shift also brings with it the benefit of low fuel prices, declining EV battery cost and improving profit margins, making it all the more attractive proposition for the public as well as private transport sector.

The battery electric vehicle market from electric buses segment surpassed USD 40 billion in 2022, fueled by ongoing initiatives towards the electrification of the public transport sector. The conventional diesel and petrol-fueled buses also emit copious amounts of hazardous pollutants such as hydrocarbons, carbon monoxide, and nitrogen oxides into the atmosphere, which lead to diseases like cancer, heart problems, and asthma among others. These emissions, and the public health issues they create are further encouraging the adoption of battery powered EVs.

The BEV market from the NiMH battery type is slated to grow at 5% CAGR from 2023 to 2032, fostered by their long-life cycles and specific power capabilities. NiMH batteries are also safer than lead-acid batteries and are lighter in terms of weight as well as more compact. Their high energy density, eco-friendliness, and low periodic exercise cycles further garner product demand.

Request for customization this report @    https://www.gminsights.com/roc/3181

The Europe battery electric vehicle market is anticipated to witness 15% growth during 2023 to 2032, on account of the decreasing battery prices, localization of battery production and development of charging infrastructure in the region. In the UK, specifically, EV firms have been recording strong sales as the ongoing progression of charging infrastructure through government support and policies, created a high impetus for vehicle availability from growing customer demand.

Partial chapters of report table of contents (TOC):

Chapter 2   Executive Summary

2.1    Battery electric vehicle industry 360° synopsis, 2018 - 2032

2.1.1    Business trends

2.1.1.1   Total Addressable Market (TAM), 2023 - 2032

2.1.2    Vehicle trends

2.1.3    Battery type trends

2.1.4    Regional trends

Chapter 3   Industry Insights

3.1    Introduction

3.2    Impact of COVID-19

3.2.1    North America

3.2.2    Europe

3.2.3    Asia Pacific

3.2.4    Latin America

3.2.5    MEA

3.3    Russia-Ukraine war impact

3.4    China-U.S.trade war impact

3.5    Industry ecosystem analysis

3.5.1    Component suppliers

3.5.2    Technology providers

3.5.3    Manufacturers

3.5.4    End-use landscape

3.5.5    Distribution channel analysis

3.5.6    Profit margin analysis, 2022

3.5.7    Vendor matrix

3.6    Technology & innovation landscape

3.7    Patent landscape

3.8    Key initiative & news

3.9    Regulatory landscape

3.9.1    North America

3.9.2    Europe

3.9.3    Asia Pacific

3.9.4    Latin America

3.9.5    MEA

3.10    Industry impact forces

3.10.1    Growth drivers

3.10.1.1    Stringent government regulations to reduce carbon emission globally

3.10.1.2    Rapid investments in R&D by BEV OEMs in Europe and North America

3.10.1.3    Growing requirement for lower cost and clean transportation solutions in Asia Pacific

3.10.1.4    Rising inclination toward electric mobility in Latin America

3.10.1.5    Strong demand for premium electric vehicles in Middle East & Africa

3.10.2    Industry pitfalls & challenges

3.10.2.1    High charging time along with limited charging infrastructure

3.10.2.2    High initial cost associated with fully electric vehicles

3.11    Investment landscape

3.12    Growth potential analysis

3.13    Porter's analysis

3.13.1    Supplier power

3.13.2    Buyer power

3.13.3    Threat of new entrants

3.13.4    Threat of substitutes

3.13.5    Internal rivalry

3.14    PESTEL analysis

 

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact us:

Aashit Tiwari
Corporate Sales, USA
Global Market Insights Inc.
Toll Free: +1-888-689-0688
USA: +1-302-846-7766
Europe: +44-742-759-8484
APAC: +65-3129-7718
Email: sales@gminsights.com 

 

 

 

 

Comments

Post a Comment

Popular posts from this blog

Commercial Vehicle Market 2024-2032; Growth Forecast & Industry Share Report

Commercial Vehicles Market size is predicted to reach USD 15.9 Tn by 2032. The market growth is fueled by the rising urbanization, increasing industrial activities, and technological advancements. The expanding global economy is pushing the demand for transportation of goods & services. With the rise of e-commerce and the need for efficient last-mile delivery solutions, particularly in urban areas, commercial vehicles sales have witnessed an uptick in the recent years. Additionally, the stringent emission regulations worldwide are pushing fleet operators to upgrade to cleaner and more fuel-efficient vehicles, contributing to market expansion. Request for Sample Copy report @     https://www.gminsights.com/request-sample/detail/7430 Moreover, advancements in driver-assistance technologies and the integration of automation are enhancing safety standards and optimizing operational efficiency of commercial vehicles, adding to their popularity. In September 2023, Amazon ...
Read more

Train Dispatching Market Trends, Analysis & Forecast, 2032

As per a recent research report, Train Dispatching Market surpass USD 2 Bn by 2032. The rapid rate of urbanization as well as demographic growth worldwide will influence the market growth. In recent years, the increasing number of passengers travelling by rail network have spurred the higher focus of government bodies on enhancing the rail services. The growing government support across the globe for upgrading the railway infrastructure to speed up passenger journeys for ensuring interoperability will further drive the demand for train dispatching. However, the dearth of standards and protocols along with the rising concerns over interoperability in connected railway train dispatching systems may limit the industry expansion to some extent. Request for Sample Copy report @   https://www.gminsights.com/request-sample/detail/5805 On the basis of offerings, the demand for train dispatching services is poised to record over 12% CAGR from 2023-2032. The rising popularity of mul...
Read more

Autonomous Vehicle Market Share, Trend & Growth Forecast to 2032

Autonomous Vehicle Market size is estimated to be valued at USD 6.1 trillion by the end of 2032. The rising advancements in AI and machine learning technologies for enhancing vehicle safety and performance will drive the market growth. The increasing investments by automotive and tech companies in autonomous driving R&D activities has made way for supportive government policies and regulations. The strong demand for efficient, safe, and convenient transportation solutions is further accelerating the interest in autonomous vehicles. As per data from the National Highway Traffic Safety Administration, in 2022, approximately, 289,310 people were injured in crashes due to distracted drivers. The potential for reducing traffic accidents and congestion, along with lower operational costs for ridesharing and logistics companies is boosting the appeal of these vehicles. The rising environmental concerns and the push for sustainable transport solutions is facilitating the development an...
Read more