Electric Vehicle Market Trends and Leading Players in Global and Regional Contexts

The global Battery Electric Vehicle (BEV) market is expected to grow annually by 20% until 2031, with a focus on passenger cars and Li-ion batteries, while commercial vehicles and NiMH remain significant segments. Key players like Groupe PSA and Jaguar are driving this growth.

A notable shift from hybrid to BEVs is observed, with major contenders including BAIC Group, BYD Auto, and Chery Automobile. In the personal mobility vehicle market, a remarkable CAGR of 7.50% is projected by 2029, with companies like Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd and SpeedwaysElectric leading the industry.

Additionally, Chinese automaker BYD has seen a surge in profits, expanding its market share through aggressive pricing strategies and reinforcing its position in the NEV market segment. Australia's battery market is also on the rise, set to reach $2.27M by 2032, with key players such as Century Yuasa and Enersys driving growth.

The evolving landscape of EVs in China sees companies like BYD and Li Auto reporting increased earnings, but facing tighter profit margins due to intense competition and price wars.