According to a recent survey by Automotive Manufacturing Solutions and ABB, more than 30% of respondents believe that the global electric vehicle (EV) market will see at least a 10% growth in the passenger vehicle space in 2025, while only 17% predict the commercial market will see the same increase.
While the outlook might not be as hopeful for the commercial EV market, a total of 41% of respondents believe this sector will see an increase of more 5% in the next year. When asked if they think it’s realistic to shift to 100% EV production to meet some of the announced targets ranging from 2030 to 2040, there was not as much confidence. In the 2022 report, 18% of people doubted it would ever happen, but this year that number has jumped to 31%.
The change in attitude was a result of a number of barriers, including lack of EV demand, battery costs, lack of government support, and raw material shortages. North America and Europe respondents both agreed that lack of EV demand was the top barrier, with 29% of respondents from both locations listing it as such.
On the consumer side, more than a quarter of respondents agreed that the lack of public charging infrastructure and charging anxiety as the primary concern in terms of EV adoption.
