Battery Electric Vehicle Market to Witness Significant Revenue Growth on Back of Augmenting Demand

The depleting fossil fuel reserves coupled with the increasing carbon emissions from automobiles will drive the battery electric vehicles (BEV) market growth. Additionally, the government policies to setup the charging infrastructure and offer subsidies on electric vehicles will largely influence the product adoption. Owing to this, many economies are anticipated to undergo a mega transition from diesel & gasoline powered vehicles to battery electric vehicles. Moreover, the ongoing R&Ds on battery technology to increase vehicle efficiency and decrease the battery cost will stimulate the industry outlook throughout the forecast period.
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How will the deployment of electric buses influence battery electric vehicle market outlook?
Buses are an integral part of the public transportation systems in many countries. The increase in fuel costs along with the rising carbon emissions poses a challenge for governments to keep running the public transportations. The advent of electric battery vehicles tends to solve both the challenges of environmental concerns and rising fuel cost. Thereby, many countries are focusing on to deploy electric buses into their public transportation fleets. For record, in 2018, the municipality of Southern Italy ordered 13 electric buses from the Chinese giant BYD for reducing the pollution in the region.
Which factors will proliferate heavy-duty electric battery vehicles industry size?
Many countries have been looking forward to increase dependency on electric trucks and heavy vehicles owing to the environmental concerns. The development of advanced powertrains for trucks that provide higher driving range without compromising the power and torque has been helping automakers to extend their consumer base. Shifting focus of automaker to develop electric trucks featured with diversified operating conditions will augment heavy-duty vehicle segment of battery electric vehicles industry. As per a research report, heavy-duty BEV market is poised to register an annual growth rate of more than 9% over 2019-2025.
How will the class 8/long haul trucks strengthen battery electric vehicle (BEV) market share?
Advantages including the lower maintenance and operation cost promote high adoption of the class 8/long haul trucks. Additionally, the electric powertrain technology integrated in these vehicles reduces noise and vibrations which improves the overall driving experience during long distance travels. Integration of new technologies in long haul trucks along with development of customer-centric vehicles will accelerate the demand for long haul battery electric vehicles over the years ahead.
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Partial Chapter of the Table of Content
Chapter 1   Methodology and Scope
1.1    Methodology
1.1.1    Initial data exploration
1.1.2    Statistical model and forecast
1.1.3    Industry insights and validation
1.1.4    Scope, definition and forecast parameters
1.1.4.1    Definitions
1.1.4.2    Assumptions, methodology and forecast parameters
1.2    Region wise impact analysis of COVID-19
1.2.1    North America
1.2.2    Europe
1.2.3    Asia Pacific
1.2.4    Latin America
1.2.5    MEA
1.3    Data Sources
1.3.1    Secondary
1.3.2    Primary
Chapter 2   Executive Summary
2.1    Battery electric vehicle (BEV) industry 360° synopsis, 2017 – 2027
2.1.1    Business trends
2.1.2    Regional trends
2.1.3    Vehicle trends
2.1.4    Battery type trends
Chapter 3   Industry Insights
3.1    Industry segmentation
3.2    Impact of COVID-19 on BEV industry landscape
3.2.1    Global outlook
3.2.2    Regional impact
3.2.2.1    North America
3.2.2.2    Europe
3.2.2.3    Asia Pacific
3.2.2.4    Latin America
3.2.2.5    MEA
3.2.3    Industry value chain
3.2.3.1    Research & development
3.2.3.2    Manufacturing
3.2.3.3    Marketing
3.2.3.4    Supply
3.2.4    Competitive landscape
3.2.4.1    Strategy
3.2.4.2    Distribution network
3.2.4.3    Business growth
3.3    Industry ecosystem analysis
3.3.1    Component suppliers
3.3.2    Technology providers
3.3.3    Manufacturers
3.3.4    End use landscape
3.3.5    Distribution channel analysis
3.3.6    Vendor matrix
3.4    Technology & innovation landscape
3.5    Investment landscape
3.6    Regulatory landscape
3.6.1    North America
3.6.2    Europe
3.6.3    Asia Pacific
3.6.4    Latin America
3.6.5    MEA
3.7    Industry impact forces
3.7.1    Growth drivers
3.7.1.1    Stringent government regulations to reduce carbon emission globally
3.7.1.2    Rapid investments in R&D by BEV OEMs in Europe and North America
3.7.1.3    Growing requirement for lower cost and clean transportation solutions in Asia Pacific
3.7.1.4    Rising inclination toward electric mobility in Latin America
3.7.1.5    Strong demand for premium electric vehicles in Middle East & Africa
3.7.2    Industry pitfalls & challenges
3.7.2.1    High charging time along with limited charging infrastructure
3.7.2.2    High initial cost associated with fully electric vehicles
3.8    Growth potential analysis
3.9    Porter's analysis
3.9.1    Supplier power
3.9.2    Buyer power
3.9.3    Threat of new entrants
3.9.4    Threat of substitutes
3.9.5    Internal rivalry
3.10    PESTEL analysis
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