According to the research report titled ‘Battery Electric Vehicles (BEV) Market Size By Vehicle (Heavy Duty Vehicles, Agriculture, Buses, Port Vehicles/Container Handling Or Transport, Automotive, Class 8/Long Haul) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Sweden, Italy, Norway, Spain, Netherlands, China, Japan, India, Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Repot LLC, the global battery electric vehicles (BEV) market is expected to record substantial growth rate through the year 2025.
 

Increasing levels of carbon in the environment coupled with shifting focus towards reducing the dependency on fossil fuels are major factors driving the battery electric vehicles market growth. Regulatory federations across the globe are introducing various initiatives towards improving air quality and energy security. This factor along with escalating disposable income and growing demand for efficient personal vehicles are further aiding the market expansion.
 

Availability of repair and diagnostic facilities have enhanced the adoption of battery electric vehicles. Development of various types of electric vehicles and favorable reimbursement policies are stimulating the industry outlook. Moreover, factors such as advancements in battery technologies, improved charging infrastructure and high driving range are fostering the growth of battery electric vehicles market.
 

Various countries are focusing on deploying green public buses to reduce GHG emission and enhance efficiency. Adding to this, numerous market majors are focusing on R&D activities in order to develop innovative battery solutions such as zebra and graphene solid state batteries. Advancement in vehicle engineering capabilities and powertrain systems is contributing towards popularity of the product across the globe.
 

By vehicle type, heavy-duty vehicles segment is presumed to expand significantly during the forecast period. The vehicle offers better torque and power, low maintenance cost and higher efficiency. Growing demand for electric heavy duty vehicles is fueling the segmental growth. Advancements in electric heavy duty vehicles are also favoring the market outlook.
 

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Considering the geographical landscape, North America battery electric vehicles industry will witness lucrative growth during the estimated timeframe. The growth is attributed to favorable federal reforms and tax policies in tandem with increasing focus toward development of electric charging infrastructure.
 

The prominent companies operating in battery electric vehicles market are Tesla Inc., Nissan Motor Corp., Mitsubishi Motors Corp., Hyundai Motor Co., Honda Motor Co. Ltd., Groupe Renault, General Motors, Toyota Motor Corp., Volkswagen AG, Ford Motor Co., Energica Motor Co. S.p.A., Daimler AG, Continental AG, BYD Co. Ltd. and BMW.