The briefing examines the global development of the EV industry. It breaks down the analysis into three key pillars: EV industry overview, EV charging industry and EV battery industry. Each section seeks to shed light on the dominant trends, opportunities and challenges for businesses operating or seeking to operate in the EV industry. The briefing also provides numerous case studies of how companies are investing in and innovating in the fast-growing EV industry.
By 2040, EV registrations (BEV, PHEV and HEV) across 46 major markets are predicted to total 114 million. This will be equivalent to 84% of all new passenger car registrations.
Major automotive brands, including General Motors, Ford and Volkswagen, are pivoting towards the EV sector. This stems from increased government restrictions on internal combustion engines, coupled with strict regulations on carbon emissions. By 2040, 74% of new passenger car registrations will be electric.
Public charging stations are becoming more commonplace. In 2021, across 45 major economies, 1.4 million charging stations are forecast – up from 1.1 million in 2020. China is the global leader, with 940,000 public EV charging stations, accounting for 67% of all charging stations globally.
New partnerships are forming between different industry players, such as retailers, EV charging firms, infrastructure investment companies and energy firms, to name a few. This is opening up opportunities for companies to add new revenue streams, while for others it is a way to diversify and move away from the fossil fuels industry.
Global battery production value is forecast to nearly double over 2020-2030, to reach USD454 billion. China is forecast to account for almost 55% of global battery production value in 2030.
It is predicted that battery prices will continue to decline, albeit at a slow rate, and reach USD100 per kWh by 2025. This price point is expected to make electric vehicles evenly priced with internal combustion engine cars.
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