Global Battery Electric Vehicle Market Overview, Trends and Growth Opportunities Forecasted till 2022
The scope of the report is to analyze the global battery electric vehicle market for the period 2017-2022 and give readers an accurate, unbiased analysis. Battery electric vehicle manufacturers, suppliers, and stakeholders in the overall automotive market can benefit from the insights offered in this report. The comprehensive analysis offered in the report can also be of interest to leading automotive journals and trade magazines.
In a bid to keep readers up-to-date on the latest developments in the global battery electric vehicle market, the report offers readers a roundup of the latest trends impacting the market. As the automotive sector is ever-evolving, staying abreast with latest trends and developments is paramount to formulating key business strategies. Information on supply chain, cost structure, pricing analysis, raw material sourcing, and list of distributors are offered to readers in this section.
Considering the broad scope of global battery electric vehicle market, the report includes a segment-wise analysis and forecast. The global battery electric vehicle market is segmented into – power source, powertrain, vehicle type, and region. Through this section, the report offers an in-depth country-wise forecast on every parameter associated with battery electric vehicle.
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Factors Fuelling Growth of the Global Market
Growth of the global market of battery electric vehicle is projected to be bound by several macro and micro economic factors. Demand for electric vehicles is projected to remain significantly concentrated in the transportation industry. The battery electric passenger vehicles have comparatively low maintenance expenses as they function on strong rotors unlike the conventional vehicles. Furthermore, the electric vehicles are not embedded with several facilities including fuel injection systems, radiators, costly exhaust system, and starter motor, which reduces the maintenance expenses of the vehicle. Bound to these factors, demand for battery electric vehicle is projected to increase in the transportation industry.
Equipped with comparatively low center of gravity, the electric vehicles are fast and subject to low risk of accidents or threats. Moreover, the major market players in the global market are increasingly using bio-based materials for manufacturing the padding, and the body parts of the electric passenger vehicles. Attributed to these factors, the global market of battery electric vehicle is projected to witness a significant growth throughout the forecast period.
While the overall outlook on growth of the global market remains positive, fast deterioration of the battery, and long duration for recharging the battery will continue to pose significant challenges to the customers. As these vehicles only allow commuting in short distances, demand for battery electric vehicle is likely to dip in the global market.
Leading players operating in the global battery electric vehicle market include Bayerische Motoren Werke AG, Daimler AG, Ford Motor Company, General Motors, Honda Motor Company Limited, Mitsubishi Heavy Industries Ltd, Nissan Motor Corporation Limited, Renault SA, Tesla Motors Inc., Toyota Motor Corporation and Volkswagen AG.
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