Battery Electric Vehicle Market Size By Vehicle, By Battery, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023-2032

Description

List of Tables

Battery Electric Vehicle Market is anticipated to witness robust growth between 2023 and 2032, primarily owing to the increasing investments in R&D initiatives by BEV OEMs, especially in North America and Europe. Besides, the demand for electric mobility is rapidly rising in the Latin America region, which will further drive the product demand during the foreseeable future.

Overall, the battery electric vehicle market has been segmented in terms of vehicle, battery, and region.

In the context of vehicle, the electric trucks segment is anticipated to expand significantly by 2032. The segmental growth will be mainly driven by the rising demand for logistics and lower fuel and maintenance costs. In addition, the implementation of stringent vehicle emission standards is also compelling automobile manufacturers to invest heavily in the production of electric trucks, which will add impetus to the market demand in the next ten years.

To cite an instance, in February 2023, Sheffield, UK announced new clean air zones in the city and announced that any vehicle, including buses, coaches, vans, and taxis, that fail to meet the strict emission standards of the city will be fined around USD 60 before being allowed to enter the city.

On the basis of the battery, the market is likely to be characterized by the Li-ion segment, which was valued at more than USD 100 billion in 2022. The rapid expansion of this segment can be attributed to the rising demand for electric vehicles, which are largely dependent on Li-ion batteries. As per reports, in 2021, the sales of electric cars tripled and reached 3.3 million in China. Besides, in the same year, the number of electric cars in the United States sold doubled and reached 6,30,000, while in Europe, it increased by 65% and reached 2.3 million units.

In addition, favorable features of Li-ion batteries such as durability, low rate of self-discharge, bare minimum maintenance cost, high power density, and much lower environmental impact are increasing their adoption across various industry verticals, which will propel the product demand by 2032.

In the regional context, the North America battery electric vehicle market was valued at more than 30 billion in 2022. The future growth of the regional market during 2023 and 2032 will be driven by the continuous efforts by countries such as United States and Canada to advance and develop innovative battery systems with huge power delivery capabilities.

Product Code: 3181

Chapter 1 Methodology and Scope

1.1 Market definition
1.2 Base estimates & forecast
1.3 Foreacst calculations
1.4 Data Sources
- 1.4.1 Secondary
  - 1.4.1.1 Paid sources
  - 1.4.1.2 Public sources
- 1.4.2 Primary
1.5 Industry glossary

Chapter 2 Executive Summary

2.1 Battery electric vehicle industry 360 degree 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

Chapter 4 Competitive Landscape

4.1 Introduction
4.2 Company market share, by vehicle, 2022
- 4.2.1 Electric cars
- 4.2.2 Electric buses
- 4.2.3 Electric trucks
- 4.2.4 Electric motorcycles & scooters
- 4.2.5 E-bikes
4.3 Competitive analysis of major market players, 2022
- 4.3.1 BYD Group
- 4.3.2 Tesla, Inc
- 4.3.3 Toyota Motors Corporation
- 4.3.4 Trek Bicycles
- 4.3.5 Volkswagen Group
- 4.3.6 Zero Motorcycles
4.4 Competitive analysis of prominent players, 2022
- 4.4.1 Honda Motors
- 4.4.2 Yutong Bus
- 4.4.3 Volvo
- 4.4.4 Giant Bicycles
- 4.4.5 Yadea Technology Group Co Ltd
4.5 Competitive positioning matrix
4.6 Strategic outlook matrix

Chapter 5 Battery Electric Vehicle (BEV) Market, By Vehicle (Revenue and Shipments)

5.1 Key trends, by vehicle
5.2 Electric Cars
- 5.2.1 Market estimates and forecast, 2018 - 2032
5.3 Electric Buses
- 5.3.1 Market estimates and forecast, 2018 - 2032
5.4 Electric Trucks
- 5.4.1 Market estimates and forecast, 2018 - 2032
5.5 Electric Motorcycles & Scooters
- 5.5.1 Market estimates and forecast, 2018 - 2032
5.6 E-bikes
- 5.6.1 Market estimates and forecast, 2018 - 2032

Chapter 6 Battery Electric Vehicle (BEV) Market, By Battery Type (Revenue and Shipments)

6.1 Key trends, by battery type
6.2 SLA
- 6.2.1 Market estimates and forecast, 2018 - 2032
6.3 Li-ion
- 6.3.1 Market estimates and forecast, 2018 - 2032
6.4 NiMH
- 6.4.1 Market estimates and forecast, 2018 - 2032

Chapter 7 Battery Electric Vehicle (BEV) market, By Region (Revenue and Shipments)

7.1 Key trends, by region
7.2 North America
- 7.2.1 Market estimates and forecast, 2018-2032
- 7.2.2 Market estimates and forecast, by vehicle, 2018 - 2032
- 7.2.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.2.4 U.S.
  - 7.2.4.1 Market estimates and forecast, 2018-2032
  - 7.2.4.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.2.4.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.2.5 Canada
  - 7.2.5.1 Market estimates and forecast, 2018-2032
  - 7.2.5.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.2.5.3 Market estimates and forecast, by battery type, 2018 - 2032
7.3 Europe
- 7.3.1 Market estimates and forecast, 2018-2032
- 7.3.2 Market estimates and forecast, by vehicle, 2018 - 2032
- 7.3.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.3.4 UK
  - 7.3.4.1 Market estimates and forecast, 2018-2032
  - 7.3.4.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.3.4.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.3.5 Germany
  - 7.3.5.1 Market estimates and forecast, 2018-2032
  - 7.3.5.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.3.5.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.3.6 France
  - 7.3.6.1 Market estimates and forecast, 2018-2032
  - 7.3.6.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.3.6.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.3.7 Italy
  - 7.3.7.1 Market estimates and forecast, 2018-2032
  - 7.3.7.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.3.7.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.3.8 Netherlands
  - 7.3.8.1 Market estimates and forecast, 2018-2032
  - 7.3.8.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.3.8.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.3.9 Belgium
  - 7.3.9.1 Market estimates and forecast, 2018-2032
  - 7.3.9.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.3.9.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.3.10 Denmark
  - 7.3.10.1 Market estimates and forecast, 2018-2032
  - 7.3.10.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.3.10.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.3.11 Norway
  - 7.3.11.1 Market estimates and forecast, 2018-2032
  - 7.3.11.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.3.11.3 Market estimates and forecast, by battery type, 2018 - 2032
7.4 Asia Pacific
- 7.4.1 Market estimates and forecast, 2018-2032
- 7.4.2 Market estimates and forecast, by vehicle, 2018 - 2032
- 7.4.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.4.4 China
  - 7.4.4.1 Market estimates and forecast, 2018-2032
  - 7.4.4.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.4.4.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.4.5 India
  - 7.4.5.1 Market estimates and forecast, 2018-2032
  - 7.4.5.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.4.5.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.4.6 Japan
  - 7.4.6.1 Market estimates and forecast, 2018-2032
  - 7.4.6.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.4.6.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.4.7 South Korea
  - 7.4.7.1 Market estimates and forecast, 2018-2032
  - 7.4.7.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.4.7.3 Market estimates and forecast, by battery type, 2018 - 2032
7.5 Latin America
- 7.5.1 Market estimates and forecast, 2018-2032
- 7.5.2 Market estimates and forecast, by vehicle, 2018 - 2032
- 7.5.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.5.4 Brazil
  - 7.5.4.1 Market estimates and forecast, 2018-2032
  - 7.5.4.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.5.4.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.5.5 Mexico
  - 7.5.5.1 Market estimates and forecast, 2018-2032
  - 7.5.5.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.5.5.3 Market estimates and forecast, by battery type, 2018 - 2032
7.6 MEA
- 7.6.1 Market estimates and forecast, 2018-2032
- 7.6.2 Market estimates and forecast, by vehicle, 2018 - 2032
- 7.6.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.6.4 UAE
  - 7.6.4.1 Market estimates and forecast, 2018-2032
  - 7.6.4.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.6.4.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.6.5 Saudi Arabia
  - 7.6.5.1 Market estimates and forecast, 2018-2032
  - 7.6.5.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.6.5.3 Market estimates and forecast, by battery type, 2018 - 2032
- 7.6.6 South Africa
  - 7.6.6.1 Market estimates and forecast, 2018-2032
  - 7.6.6.2 Market estimates and forecast, by vehicle, 2018 - 2032
  - 7.6.6.3 Market estimates and forecast, by battery type, 2018 - 2032

Chapter 8 Company Profiles

8.1 BMW Group
- 8.1.1 Business Overview
- 8.1.2 Financial Data
- 8.1.3 Product Landscape
- 8.1.4 Strategic Outlook
- 8.1.5 SWOT Analysis
8.2 BYD Company Ltd.
- 8.2.1 Business Overview
- 8.2.2 Financial Data
- 8.2.3 Product Landscape
- 8.2.4 Strategic Outlook
- 8.2.5 SWOT Analysis
8.3 Daimler AG
- 8.3.1 Business Overview
- 8.3.2 Financial Data
- 8.3.3 Product Landscape
- 8.3.4 Strategic Outlook
- 8.3.5 SWOT Analysis
8.4 Energica Motor Company S.p.A
- 8.4.1 Business Overview
- 8.4.2 Financial Data
- 8.4.3 Product Landscape
- 8.4.4 Strategic Outlook
- 8.4.5 SWOT Analysis
8.5 Ford Motor Company
- 8.5.1 Business Overview
- 8.5.2 Financial Data
- 8.5.3 Product Landscape
- 8.5.4 Strategic Outlook
- 8.5.5 SWOT Analysis
8.6 General Motors
- 8.6.1 Business Overview
- 8.6.2 Financial Data
- 8.6.3 Product Landscape
- 8.6.4 Strategic Outlook
- 8.6.5 SWOT Analysis
8.7 Giant Bicycles
- 8.7.1 Business Overview
- 8.7.2 Financial Data
- 8.7.3 Product Landscape
- 8.7.4 Strategic Outlook
- 8.7.5 SWOT Analysis
8.8 Honda Motor Co., Ltd.
- 8.8.1 Business Overview
- 8.8.2 Financial Data
- 8.8.3 Product Landscape
- 8.8.4 Strategic Outlook
- 8.8.5 SWOT Analysis
8.9 Hyundai Motor company
- 8.9.1 Business Overview
- 8.9.2 Financial Data
- 8.9.3 Product Landscape
- 8.9.4 Strategic Outlook
- 8.9.5 SWOT Analysis
8.10 Mitsubishi Motors Corporation
- 8.10.1 Business Overview
- 8.10.2 Financial Data
- 8.10.3 Product Landscape
- 8.10.4 Strategic Outlook
- 8.10.5 SWOT Analysis
8.11 Nissan Motor corporation
- 8.11.1 Business Overview
- 8.11.2 Financial Data
- 8.11.3 Product Landscape
- 8.11.4 Strategic Outlook
- 8.11.5 SWOT Analysis
8.12 Tesla, Inc.
- 8.12.1 Business Overview
- 8.12.2 Financial Data
- 8.12.3 Product Landscape
- 8.12.4 Strategic Outlook
- 8.12.5 SWOT Analysis
8.13 Toyota Motor Corporation
- 8.13.1 Business Overview
- 8.13.2 Financial Data
- 8.13.3 Product Landscape
- 8.13.4 Strategic Outlook
- 8.13.5 SWOT Analysis
8.14 Trek Bicycles
- 8.14.1 Business Overview
- 8.14.2 Financial Data
- 8.14.3 Product Landscape
- 8.14.4 Strategic Outlook
- 8.14.5 SWOT Analysis
8.15 Volkswagen AG
- 8.15.1 Business Overview
- 8.15.2 Financial Data
- 8.15.3 Product Landscape
- 8.15.4 Strategic Outlook
- 8.15.5 SWOT Analysis