Electric Vehicles Beyond Cars Predicted to Be a $1 Trillion Market by 2044
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Electric vehicle markets outside of automotive predicted to be over $1 trillion by 2044, including commercial vehicles, micro EVs, marine vessels, construction equipment, and air taxis.
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Commercial vehicle electrification happening rapidly, with electric bus, van, and truck sales growing exponentially in regions like China and Europe.
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Micro EVs like two-wheelers, three-wheelers, and microcars present large volume, low cost opportunity for electrification.
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Marine markets growing since 2016 as electric outboards and inboards become more affordable; ferries most common electric vessels.
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Air taxis/eVTOLs still face challenges with certification and technological issues before commercialization.