The Electric Vehicle Market Will Sky-Rocket in the Next Decade
In 2021 Accelerated Manufacturing Brokers, Inc. sold a harsh environment HVAC manufacturer, which included sales to both commercial and military electric vehicle manufacturers. We’re actively seeking others for current buyers.
This market is hot - and here's why:
The global electric vehicle market was valued at $162.34 billion in 2019 and is projected to reach $802.81 billion by 2027, registering a CAGR of 22.6%. North America is estimated to reach $194.20 billion by 2027, at a significant CAGR of 27.5%.
When you think of electric vehicles, you might just be thinking of the consumer market. But substantial growth is also expected in other areas. Consider the following recent developments:
- In 2021 the U.S. Postal Service awarded a multi-billion-dollar contract to modernize the postal delivery fleet, including 165,000 new vehicles in the next 10 years.
- In 2020 GM Defense Awarded a $214.3M Contract to Produce the U.S. Army’s Infantry Squad Vehicle.
- As of 2019, there were 645,000 vehicles in the federal government’s fleet; in 2021 President Biden has promised to replace them all with electric vehicles.
- And under current pledges by states, cities and urban transit agencies, at least a third of the nation’s nearly 70,000 public transit buses will be all-electric by 2045
Manufacturers will not be able to keep up with demand. Tier I & II manufacturers in all component areas are already being sought for acquisition.