As of Q1 2022, the production of battery electric vehicles(BEV) is forecast to reach 6.0 million units in 2022, a 41.7% increase from the 4.3 million electrified vehicles produced in 2021, according to GlobalData’s automotive database.
The 2022 projection represents a 7.2% share of the total vehicle production forecast.
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The BEV production accounted for 5.7% of the vehicles produced in 2021.
Geographically, China is projected to hold the largest share (50.0%) of the battery vehicle production in 2022.
Europe is the next largest region with 26.4% of the share, with North America in third position with 12.9% of the total production. The remainder includes 6.2% contributed by South Korea, 3.8% by Japan and 0.6% from all other regions.
The BEV production in 2023 is forecasted to reach 8.4 million units, a 39.8% increase over the 2022 estimated figure, and account for a share of 9.2% of the total vehicle production.
Looking ahead to 2026, the production of battery electrified vehicles is expected to reach 16.7 million units, representing an annual growth rate of 31.5% compared with the 2021 production volumes, and account for 16.3% of the total vehicle production.
Further down the line, the BEV production is forecast to reach 46.1 million units in 2036, marking an annual growth rate of 17.2% compared with the 2021 production.
As a proportion of all vehicles produced in 2036, the BEVs are expected to account for a 41.1% share of total vehicle production.
Methodology
GlobalData’s in-depth component forecast gives a detailed picture of the future prospects for a number of automotive technologies. Using this dataset, we can gain a rich understanding of the fortunes of the battery electric vehicle (BEV) segment.
Battery electric vehicles are models that store all their useable energy in an on – board battery pack and deploy it through one or more electric motors. Unlike adjacent technologies such as hybrids, plug -in hybrids and range extenders, battery electric vehicles do not use any form of combustion engine in their powertrains.
