Forecast: 2025 Q1 Global xEV Demand Outlook 2022 to 2031
Explore TechInsights' global xEV outlook, covering key challenges, uncertainties, and semiconductor demands shaping electric mobility.
This TechInsights data model presents a view of the Global outlook for xEV systems and associated semiconductor and sensor demand. The uncertainties and challenges posed by a slowing domestic and global economy will slow the momentum behind battery electric vehicles in the short term. In the mid- to long-term, the push towards electrification and specifically battery electric vehicles will be maintained with volume demand continuing to grow. This will help to sustain demand for xEV semiconductor and sensor components, and the market will grow at a CAAGR of just under 13% over 2023–2028, from $10.4 billion to $20.4 billion. The continued momentum will push market demand to $25.0 billion by 2031.
