Battery Electric Vehicles Market to Hit $425bn by 2025: Global Market Insights, Inc.

SELBYVILLE, Del., March 28, 2019 /PRNewswire/ — The battery electric vehicles market is set to rise from around USD 150 billion in 2018 to over USD 425 billion by 2025, according to a 2019 Global Market Insights, Inc. report. Increasing prevalence of greenhouse gases along with rising concerns associated with carbon emissions are driving the market growth over the projected timeframe. Incentives, tax reductions, and free charging facilities are the main factors encouraging customers to opt for battery electric vehicles. Automakers are concentrating on driving their businesses in countries, which have significant policies for encouraging the electric vehicles adoption.

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