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A Nascent Market with Big Potential
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The automotive industry is evolving rapidly. Electric vehicles have been introduced as a clean energy initiative and are now becoming an integral part of OEMs’ business strategies. Automakers like Volkswagen, Hyundai-Kia, and RNM are creating separate EV business units to be prepared for the expected EV boom. The surge in EV demand will, however, create a need for charging infrastructure and new safety regulations, standards, etc. Belgium has a steadily growing EV market. As a member of the EU, Belgium’s National Policy Framework (NPF) is based on the October 2014 Directive launched by the European Commission regarding alternate fuel vehicles to address environmental issues and energy security, attracting investors to Europe for alternate fuel source development. The government has made serious progress in terms of the charging station infrastructure in 2019 and is also considering the introduction of additional methodologies to regulate carbon emissions from vehicles. There is, however, a lack of incentives both for consumers to purchase EVs and for OEMs to boost production of EVs, which is holding the market back.The study gives us a detailed analysis of the EV market scenario with charts based on annual sales (2019) as well as historical sales. PEVs and HEVs have separate sections. Data is compiled and presented in the form of:• Historical sales, monthly sales for 2019, and market penetration as well as YoY growth for 2010–2019• Market share by xEV type, and sales share of each xEV type for the top 5 highest selling OEMs since 2010• Top 10 models for 2019 as well as historical sales for PEVs and HEVs• PEV sales forecast• Charging station infrastructure data like number of charge points, key service providers, opportunities for partnerships, etc.• Detailed regional incentivesThe report has been rounded off with key findings, conclusions, observations, Frost & Sullivan forecast for PEVs, and growth opportunities to act on.
Key Issues Addressed
Global Corporate Mobility Growth Opportunities
European Medium-duty and Heavy-duty Electric Trucks Growth Opportunities
GROWTH OPPORTUNITIES IN FLEET MANAGEMENT, ELECTRIC VEHICLES, ROBOTIC FACTORIES, WIRELESS CHARGING, AND ADAS
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Global LiDAR Growth Opportunities
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Frost Radar™: Global Off-Highway Autonomous Technology Market, 2021
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