Global Battery Electric Car Market Overview:
Battery electric cars are important technological advancement in the automotive industry as they rely on electric motors running on rechargeable batteries as opposed to the use of internal combustion engines. The market is expected to witness significant growth due to growing awareness of environmental sustainability and a major shift towards cleaner transportation options. This trend reflects a broader global commitment to reducing carbon emissions and mitigating climate change impact. Further, government of various countries are also taking initiatives such as tax rebate and incentives on purchasing of electric vehicles in order to promote clean transportation and reduce carbon emission is expected to fuel growth in the market. However, inadequate charging facilities or infrastructure is likely to affect and limit the adoption of battery electric cars.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increase in Technological Advancements and Development of Lithium-Ion Batteries with Advanced Performance and Prevalence of Autonomous Driving Technology and Integration of Autonomous Systems Into Battery Electric Cars
Market Growth Drivers:
Shifting From Normal Vehicles to Electric Vehicles Due To Growing Environmental Concerns and Reduce Carbon Emission and Rising Disposable Income of People and Growing Demand of Car For Personal Transportation
Challenges:
Lack of Proper Charging Infrastructure in Some Countries May Hamper the Growth
Restraints:
High Preference Towards the Hybrid Cars As Compared To Fully Electric Due to Range Issues
Opportunities:
Government Initiatives and Incentives to Promote Electric Vehicles
Competitive Landscape:
The key players are targeting the innovations of the Solutions with better quality, better technical characteristics. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market.
Some of the key players profiled in the report are BYD Auto Co., Ltd. (China), Tesla (United States), Volkswagen AG (Germany), Mercedes-Benz Group AG (Germany), Stellantis N.V. (Netherlands), Tata Motors Limited (India), Groupe Renault (France), Hyundai Motor Company (South Korea), Ford Motor Company (United States), General Motors (United States), Bayerische Motoren Werke AG (Germany), SAIC Motor Corp., Ltd. (China) and AB Volvo (Sweden). Analyst at AMA Research see European Vendors to retain maximum share of Global Battery Electric Car market by 2030. Considering Market by Body Style, the sub-segment i.e. Sedan will boost the Battery Electric Car market. Considering Market by Pricing, the sub-segment i.e. Economy will boost the Battery Electric Car market. Considering Market by Range, the sub-segment i.e. Short Range will boost the Battery Electric Car market.
What Can be Explored with the Battery Electric Car Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Battery Electric Car Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Battery Electric Car
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Battery Electric Car market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Battery Electric Car market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Automotive Manufacturers, Battery & Electric Component Manufacturers, Suppliers & Distributors, Government Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.