Battery Electric Vehicles Market 2019 Key Regions and Competitive Landscape Forecast to 2024

North America battery electric vehicles market will account for a considerable share on account of favorable government incentives and tax policies. Additionally, governments across the region are focusing on developing charging infrastructure to support the growing demand for such vehicles. For instance, the government in British Columbia offers discounts and rebates of up to USD 5,000 for battery electric vehicles under its Clean Energy Vehicles for British Columbia – Point of Sale Incentive Program.

Over the last few years, electric vehicles have nearly gone mainstream, at least in the key global markets. Now having accomplished a small but significant share of the passenger-car market, the EV industry has been eying the public transit sector. Companies are now manufacturing battery-electric buses and selling them to cities interested in reducing their carbon footprint. Major manufacturers active in the battery electric vehicles market are electric-bus business comprise Canada-based New Flyer, China’s BYD and the US-based startup Proterra.

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Recently, Daimler Trucks North America claimed that battery electric vehicles will pave the way for zero-emission commercial transportation. According to the European Federation for Transport and Environment, emissions from heavy-duty vehicles such as trucks and busses grew by 36% between 1990 and 2010 and has continued to grow ever since. By the year 2030, trucks and buses will release around 15% of overall effort sharing or non-ETS emissions. Unless additional measures are taken, heavy-duty vehicle emissions could rise to contributing 40% of overall road transport emission by 2030. This presents battery electric vehicles market contenders with a viable growth opportunity, to manufacture batteries for heavy duty vehicles.

The global battery electric vehicles market is anticipated to surpass $425 billion by 2025, according to a research report by Global Market Insights, Inc. The adoption of battery-operated passenger cars, buses or trucks will be further supported by the imposition of stringent vehicular emission standards across the world. For instance, the European Parliament recently agreed to new CO2 emission standards for newly purchased cars and vans with an objective to witness 37.5% reduction in emission from new cars and 31% lower emissions from new vans by the end of 2030.

According to the latest forecasts, the level of CO2 in the atmosphere is projected to witness an average rise of 2.75 parts per million over 2019. If the world needs to meet the temperature goals of the Paris agreement, global emissions need to plummet by 2020. Unlike conventional vehicles though, battery powered vehicles don’t require fuels and hence don’t release much CO2. The growing number of issues related to vehicular emissions paired with the increasing need to reduce the effects of greenhouse gases will thus propel battery electric vehicles market share in the future.

Browse key industry insights spread across 210 pages with 218 market data tables & 9 figures & charts from the report, “Battery Electric Vehicles Market” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/battery-electric-vehicles-bev-market

Glimpse of Table of Content (ToC):  –

Chapter 4 Battery Electric Vehicles Market, By Vehicle

4.1 Global battery electric vehicles market share by vehicle, 2018 & 2025

4.2 Heavy duty vehicle

4.2.1 Market estimates and forecast, 2013 – 2025, (Units) (USD Million)

4.2.2 Market estimates and forecast, by region, 2013 – 2025, (Units) (USD Million)

4.3 Agriculture

4.3.1 Market estimates and forecast, 2013 – 2025, (Units) (USD Million)

4.3.2 Market estimates and forecast, by region, 2013 – 2025, (Units) (USD Million)

4.4 Buses

4.4.1 Market estimates and forecast, 2013 – 2025, (Units) (USD Million)

4.4.2 Market estimates and forecast, by region, 2013 – 2025, (Units) (USD Million)

4.5 Port Vehicles/Container Handling or Transport

4.5.1 Market estimates and forecast, 2013 – 2025, (Units) (USD Million)

4.5.2 Market estimates and forecast, by region, 2013 – 2025, (Units) (USD Million)

4.6 Automotive

4.6.1 Market estimates and forecast, 2013 – 2025, (Units) (USD Million)

4.6.2 Market estimates and forecast, by region, 2013 – 2025, (Units) (USD Million)

4.7 Class 8/Long Haul

4.7.1 Market estimates and forecast, 2013 – 2025, (Units) (USD Million)

4.7.2 Market estimates and forecast, by region, 2013 – 2025, (Units) (USD Million)

4.8 Others

4.8.1 Market estimates and forecast, 2013 – 2025, (Units) (USD Million)

4.8.2 Market estimates and forecast, by region, 2013 – 2025, (Units) (USD Million)

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