Battery Electric Vehicle Market by Vehicle Type (Battery Electric Passenger Cars, Battery Electric Light Commercial Vehicles, Battery Electric Heavy Goods Vehicles, and Battery Electric Two Wheelers) - Global Opportunity Analysis and Industry Forecast, 2020-2030

Abstract
Market Definition:

The Battery Electric Vehicle Market was estimated at USD 49.57 Billion in 2019 and is expected to reach USD 212.16 Billion by 2030, at a CAGR of 14% during the forecast period, from 2020 to 2030.

Battery Electric Vehicles (BEVs) operate on chemical energy preserved in rechargeable battery packs. They do not have a secondary source of energy for propulsion. Benefits offered by BEVs include high efficiency, low maintenance cost, no emission, and less vibrations. Industry participants are striving to develop batteries with superior technology that enhances its capacity and improve the performance of the vehicle.

Market Dynamics and Trends:

Increasing government focus on reducing the environmental impact due to carbon emission and implementation of regulations to support the usage of alternative fuel are expected to boost the market For instance, the Administration of California announced that it will have around 5 million zero emission vehicles on the road by 2030 and around 250,000 electric vehicle charging stations by 2025. Moreover, rising levels of greenhouse gases and carbon emissions have encouraged governments to invest in public transport vehicles that can be run using alternative energy. Such environmental concerns are estimated to drive the battery electric vehicle market in the coming years. Furthermore, various other benefits such as no noise and reduced vibrations are offered by these vehicles are fueling the market growth.

However, high vehicle cost act as a restraint for the market. Consequently, development of battery technology to enhance vehicle performance is expected to propel the market growth. For instance, Automobile OEMs including Mercedes and BMW are installing Na/NiCl2 battery that offers advantages such as superior voltage, cycling performance and are unaffected by constant freeze thaw cycles.

Market Segmentations and Scope of the Study:

The global battery electric vehicle (BEV) market has been analyzed based on vehicle type and geography. On the basis of vehicle type, the market is segmented into passenger cars, light commercial vehicles, heavy goods vehicles, and battery electric two wheelers. In terms of geography the market is divided into North America, Europe, Asia-Pacific, and Rest of the World (RoW).

Geographical Analysis:

The market in North America is expected to grow during the forecast period owing to the stringent emission standards and regulations that encourage the adoption of battery electric vehicles and effective government policies for the electrification of on-road transport vehicles. Europe battery electric vehicles market is projected to expand due to the rise in R&D activities and implementation of stringent vehicle emission norms. Also, increasing demand for e-bikes is estimated to fuel the market in this region. The market in Asia Pacific is estimated to expand at a high pace owing to the increasing adaptation of zero emission trucks and cars. Strong presence of battery manufacturers in the region and supportive government subsidies and tax incentives are boosting the market. Growing emphasis for reducing carbon footprint and improving air quality are fueling the market in this region.

Competitive Landscape:

Key players in the global battery electric vehicle (BEV) market are BMW Group, General Motors Company, Ford Motor Company, Daimler AG, Hyundai Motor Company, Honda Motor Co., Ltd., Tesla Motors, Inc., Nissan Motor Co., Ltd., Groupe Renault and BYD Company Limited.

In October 2020, Mercedes Benz announced the launch of six battery electric vehicles (two sedans, two crossovers, and two SUVs). In September 2020, Kia Motors announced plans to launch seven battery-powered electric cars by 2027.

KEY MARKET SEGMENTS:
• By Vehicle

Passenger Cars

Light Commercial Vehicles

Heavy Goods Vehicles

Two-wheelers
• By Region

Americas

US

Canada

Mexico

Brazil

Europe

Germany

UK

France

Norway

Sweden

Denmark

Netherlands

Belgium

Finland

Rest of Europe

Asia Pacific APAC

China

Japan

India

South Korea

Rest of APAC

RoW

Middle East

Remaining Countries

Content
1. INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. RESEARCH METHODOLOGY
1.2.1 SECONDARY RESEARCH
1.2.2 DATA ANALYSIS FRAMEWORK
1.2.3 MARKET SIZE ESTIMATION
1.2.4 FORECASTING
1.2.5 PRIMARY RESEARCH AND DATA VALIDATION
2. MARKET SNAPSHOT, 2019-2030 MILLION USD
2.1. MARKET SNAPSHOT
3. PORTER’S FIVE FORCE MODEL ANALYSIS
4. MARKET DYNAMICS
4.1. GROWTH DRIVERS
4.1.1 DRIVER 1
4.1.2 DRIVER 2
4.1.3 DRIVER 3
4.1.4 DRIVER 4
4.2. CHALLENGES
4.2.1 CHALLENGE 1
4.2.2 CHALLENGE 2
4.3. OPPORTUNITIES
4.3.1 OPPORTUNITY 1
4.3.2 OPPORTUNITY 2
5. GLOBAL BATTERY ELECTRIC VEHICLE (BEV) MARKET, BY VEHICLE TYPE
5.1. OVERVIEW
5.2. PASSENGER CARS
5.2.1 PASSENGER CARS MARKET, BY REGION
5.2.1.1 Americas Passenger Cars Market, By Country
5.2.1.2 Europe Passenger Cars Market, By Country
5.2.1.3 Asia-Pacific Passenger Cars Market, By Country
5.2.1.4 Rest of World Passenger Cars Market, By Country
5.3. LIGHT COMMERCIAL VEHICLES
5.3.1 LIGHT COMMERCIAL VEHICLES MARKET, BY REGION
5.3.1.1 Americas Light Commercial Vehicles Market, By Country
5.3.1.2 Europe Light Commercial Vehicles Market, By Country
5.3.1.3 Asia-Pacific Light Commercial Vehicles Market, By Country
5.3.1.4 Rest of World Light Commercial Vehicles Market, By Country
5.4. HEAVY COMMERCIAL GOODS VEHICLES
5.4.1 HEAVY COMMERCIAL GOODS VEHICLES MARKET, BY REGION
5.4.1.1 Americas Heavy Commercial Goods Vehicles Market, By Country
5.4.1.2 Europe Heavy Commercial Goods Vehicles Market, By Country
5.4.1.3 Asia-Pacific Heavy Commercial Goods Vehicles Market, By Country
5.4.1.4 Rest of World Heavy Commercial Goods Vehicles Market, By Country
5.5. TWO WHEELERS
5.5.1 TWO WHEELERS MARKET, BY REGION
5.5.1.1 Americas Two Wheelers Market, By Country
5.5.1.2 Europe Two Wheelers Market, By Country
5.5.1.3 Asia-Pacific Two Wheelers Market, By Country
5.5.1.4 Rest of World Two Wheelers Market, By Country
6. GLOBAL BATTERY ELECTRIC VEHICLE (BEV) MARKET, BY REGION
6.1. OVERVIEW
6.2. AMERICAS
6.2.1 AMERICAS BATTERY ELECTRIC VEHICLE (BEV) MARKET, BY VEHICLE TYPE
6.2.2 AMERICAS BATTERY ELECTRIC VEHICLE (BEV), MARKET BY COUNTRY
6.2.2.1 U.S
6.2.2.1.1 U.S Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.2.2.2 Canada
6.2.2.2.1 Canada Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.2.2.3 Mexico
6.2.2.3.1 Mexico Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.2.2.4 Brazil
6.2.2.4.1 Brazil Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.2.2.5 Rest of America
6.2.2.5.1 Rest of America Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.3. EUROPE
6.3.1 EUROPE BATTERY ELECTRIC VEHICLE (BEV) MARKET, BY VEHICLE TYPE
6.3.2 EUROPE BATTERY ELECTRIC VEHICLE (BEV), MARKET BY COUNTRY
6.3.2.1 UK
6.3.2.1.1 UK Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.3.2.2 France
6.3.2.2.1 France Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.3.2.3 Germany
6.3.2.3.1 Germany Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.3.2.4 Norway
6.3.2.4.1 Norway Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.3.2.5 Sweden
6.3.2.5.1 Sweden Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.3.2.6 Denmark
6.3.2.6.1 Denmark Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.3.2.7 Netherlands
6.3.2.7.1 Netherlands Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.3.2.8 Belgium
6.3.2.8.1 Belgium Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.3.2.9 Finland
6.3.2.9.1 Finland Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.3.2.10 Rest of Europe
6.3.2.10.1 Rest of Europe Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.4. ASIA-PACIFIC
6.4.1 ASIA-PACIFIC BATTERY ELECTRIC VEHICLE (BEV) MARKET, BY VEHICLE TYPE
6.4.2 ASIA-PACIFIC BATTERY ELECTRIC VEHICLE (BEV), MARKET BY COUNTRY
6.4.2.1 China
6.4.2.1.1 China Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.4.2.2 Japan
6.4.2.2.1 Japan Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.4.2.3 India
6.4.2.3.1 India Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.4.2.4 South Korea
6.4.2.4.1 South Korea Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.4.2.5 Rest of Asia-Pacific
6.4.2.5.1 Rest of Asia-Pacific Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.5. REST OF WORLD
6.5.1 REST OF WORLD BATTERY ELECTRIC VEHICLE (BEV) MARKET, BY VEHICLE TYPE
6.5.2 REST OF WORLD BATTERY ELECTRIC VEHICLE (BEV), MARKET BY COUNTRY
6.5.2.1 Middle East
6.5.2.1.1 Middle East Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.5.2.2 Africa
6.5.2.2.1 Africa Battery Electric Vehicle (BEV) Market, By Vehicle Type
6.5.2.3 Other Countries
6.5.2.3.1 Other Countries Battery Electric Vehicle (BEV) Market, By Vehicle Type
7. COMPANY PROFILES
7.1. BMW GROUP
7.1.1 COMPANY OVERVIEW
7.1.2 COMPANY SNAPSHOT
7.1.3 OPERATING BUSINESS SEGMENTS
7.1.4 PRODUCT PORTFOLIO
7.1.5 BUSINESS PERFORMANCE
7.1.6 KEY STRATEGIC MOVES AND DEVELOPMENT
7.2. GENERAL MOTORS COMPANY
7.2.1 COMPANY OVERVIEW
7.2.2 COMPANY SNAPSHOT
7.2.3 OPERATING BUSINESS SEGMENTS
7.2.4 PRODUCT PORTFOLIO
7.2.5 BUSINESS PERFORMANCE
7.2.6 KEY STRATEGIC MOVES AND DEVELOPMENT
7.3. FORD MOTOR COMPANY
7.3.1 COMPANY OVERVIEW
7.3.2 COMPANY SNAPSHOT
7.3.3 OPERATING BUSINESS SEGMENTS
7.3.4 PRODUCT PORTFOLIO
7.3.5 BUSINESS PERFORMANCE
7.3.6 KEY STRATEGIC MOVES AND DEVELOPMENT
7.4. DAIMLER AG
7.4.1 COMPANY OVERVIEW
7.4.2 COMPANY SNAPSHOT
7.4.3 OPERATING BUSINESS SEGMENTS
7.4.4 PRODUCT PORTFOLIO
7.4.5 BUSINESS PERFORMANCE
7.4.6 KEY STRATEGIC MOVES AND DEVELOPMENT
7.5. HYUNDAI MOTOR COMPANY
7.5.1 COMPANY OVERVIEW
7.5.2 COMPANY SNAPSHOT
7.5.3 OPERATING BUSINESS SEGMENTS
7.5.4 PRODUCT PORTFOLIO
7.5.5 BUSINESS PERFORMANCE
7.5.6 KEY STRATEGIC MOVES AND DEVELOPMENT
7.6. HONDA MOTOR CO., LTD
7.6.1 COMPANY OVERVIEW
7.6.2 COMPANY SNAPSHOT
7.6.3 OPERATING BUSINESS SEGMENTS
7.6.4 PRODUCT PORTFOLIO
7.6.5 BUSINESS PERFORMANCE
7.6.6 KEY STRATEGIC MOVES AND DEVELOPMENT
7.7. TESLA MOTORS, INC
7.7.1 COMPANY OVERVIEW
7.7.2 COMPANY SNAPSHOT
7.7.3 OPERATING BUSINESS SEGMENTS
7.7.4 PRODUCT PORTFOLIO
7.7.5 BUSINESS PERFORMANCE
7.7.6 KEY STRATEGIC MOVES AND DEVELOPMENT
7.8. NISSAN MOTOR CO., LTD
7.8.1 COMPANY OVERVIEW
7.8.2 COMPANY SNAPSHOT
7.8.3 OPERATING BUSINESS SEGMENTS
7.8.4 PRODUCT PORTFOLIO
7.8.5 BUSINESS PERFORMANCE
7.8.6 KEY STRATEGIC MOVES AND DEVELOPMENT
7.9. GROUPE RENAULT
7.9.1 COMPANY OVERVIEW
7.9.2 COMPANY SNAPSHOT
7.9.3 OPERATING BUSINESS SEGMENTS
7.9.4 PRODUCT PORTFOLIO
7.9.5 BUSINESS PERFORMANCE
7.9.6 KEY STRATEGIC MOVES AND DEVELOPMENT
7.10. BYD COMPANY LIMITED
7.10.1 COMPANY OVERVIEW
7.10.2 COMPANY SNAPSHOT
7.10.3 OPERATING BUSINESS SEGMENTS
7.10.4 PRODUCT PORTFOLIO
7.10.5 BUSINESS PERFORMANCE
7.10.6 KEY STRATEGIC MOVES AND DEVELOPMENT
7.11. ENERGICA MOTOR COMPANY S.P.A
7.11.1 COMPANY OVERVIEW
7.11.2 COMPANY SNAPSHOT
7.11.3 OPERATING BUSINESS SEGMENTS
7.11.4 PRODUCT PORTFOLIO
7.11.5 BUSINESS PERFORMANCE
7.11.6 KEY STRATEGIC MOVES AND DEVELOPMENT
7.12. TOYOTA MOTOR CORPORATION
7.12.1 COMPANY OVERVIEW
7.12.2 COMPANY SNAPSHOT
7.12.3 OPERATING BUSINESS SEGMENTS
7.12.4 PRODUCT PORTFOLIO
7.12.5 BUSINESS PERFORMANCE
7.12.6 KEY STRATEGIC MOVES AND DEVELOPMENT
7.13. VOLKSWAGEN AG
7.13.1 COMPANY OVERVIEW
7.13.2 COMPANY SNAPSHOT
7.13.3 OPERATING BUSINESS SEGMENTS
7.13.4 PRODUCT PORTFOLIO
7.13.5 BUSINESS PERFORMANCE
7.13.6 KEY STRATEGIC MOVES AND DEVELOPMENT
7.14. MITSUBISHI MOTORS CORPORATION
7.14.1 COMPANY OVERVIEW
7.14.2 COMPANY SNAPSHOT
7.14.3 OPERATING BUSINESS SEGMENTS
7.14.4 PRODUCT PORTFOLIO
7.14.5 BUSINESS PERFORMANCE
7.14.6 KEY STRATEGIC MOVES AND DEVELOPMENT
7.15. CONTINENTAL AG
7.15.1 COMPANY OVERVIEW
7.15.2 COMPANY SNAPSHOT
7.15.3 OPERATING BUSINESS SEGMENTS
7.15.4 PRODUCT PORTFOLIO
7.15.5 BUSINESS PERFORMANCE
7.15.6 KEY STRATEGIC MOVES AND DEVELOPMENT