Battery Electric Vehicle Market Growth Potential & Forecast, 2032

Battery Electric Vehicle Market Is Predicted to Grow At More Than 15% CAGR From 2023 To 2032 As per a recent research report, Battery Electric Vehicle Market to surpass USD 1 trillion by 2032. 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. Request Sample Request Customization 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. 1|Page

Some Point from Table of Contents: 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 2|Page

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|Page

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: 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: [email protected] Social Media: Google+ | LinkedIn | Twitter | Facebook 4|Page