The electric vehicle (EV) sector is gaining significant global attention, with automotive OEMs continuing to make substantial investments in an electrified future of the industry, according to an industry report released by the Automotive & Aftermarket investment banking team from Brown Gibbons Lang & Company (BGL) in conjunction with Global M&A Partners (GMAP).
Battery Electric Vehicles (BEVs) have emerged as a green and reliable alternative to conventional Internal Combustion Engine (ICE) vehicles and are expected to play a large role in the decarbonization of the automotive sector. Driven by key growth factors, the EV market is expected to witness higher adoption rates over the long term and will become a significant part of the overall car parc in the coming decades. This is a long-term shift that will have far-reaching ramifications on the automotive sector and the global economy.
The report examines the main drivers for the introduction of electrified vehicles, a global market that is projected to grow 29% annually between 2020 and 2030, with EV sales projected to increase from 2.5 million units to 31.1 million units over the forecast period. The research takes a deep dive into the automotive transformation, which includes an analysis of the effects on the automotive value chain, including vehicle components that will grow in an electrified future, an in-depth review of the major automotive stakeholders and industry participants shifting towards EV, as well as insights into how these dynamics are impacting the M&A market.