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Battery Electric Vehicle Market Share

Report ID: GMI3181
Published Date: Feb 2023
Report Format: PDF

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Battery Electric Vehicle Market Share

The leading players in the BEV market include

BMW
Volkswagen AG
Ford Motor Company
Toyota Motor Corporation
Hyundai Motor Company
Nissan Motor Corporation
Energica Motor Company S.p.A

Many of these firms are focusing on strategic partnerships to capture a high market share. For instance, in January 2023, Assurant, Inc., a global business services company, partnered with Altelium, a provider of data-driven battery solutions, to deploy Altelium’s AI-driven battery data and EV insights to create an suite of innovative EV solutions, including vehicle service contracts that protect EV owners from expansive battery replacement and repair.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of battery electric vehicle surpassed USD 300 billion and is projected to expand at 15% CAGR from 2023 to 2032, on account of tightening government regulations towards minimizing vehicle emissions worldwide.

The electric cars market is expected to cross a valuation of USD 200 billion by 2032, impelled by the low registration and road tax levied on electric cars.

The APAC market accounted for over 50% of the overall share in 2022. The region is likely to retain its dominant position due to the presence of a favorable regulatory scenario for BEV producers.

The prominent battery electric vehicle suppliers include names such as General Motors, Honda Motor, Nissan Motor Company, Giant Bicycles, Mitsubishi Motors Company, and Hyundai Motor, among others.