Guidehouse Research Estimates Battery EVs Will Account for 53% of Global Light Duty Vehicle Sales by 2033
BOULDER, Colo., July 10, 2025 /PRNewswire/ — A new report from Guidehouse Research evaluates the global light duty vehicle (LDV) market with a specific focus on the multiple electrification options that will make up the entirety of the market in the coming decade.
EVs are expected to have a permanent place in the vehicle landscape. According to a new report from Guidehouse Research, battery EVs (BEVs) are estimated to make up 15% of LDV sales globally in 2024, and Guidehouse Research expects that number to grow substantially in the coming decade. By 2033, pure BEVs are expected to account for 53% of global LDV sales, representing a compound annual growth rate (CAGR) of 16.0%. At the same time, internal combustion engine (ICE) vehicles are projected to decline from nearly 65% of global sales in 2024 to just under 20% in 2033 at a CAGR of -11.7%.
'The LDV electrification market can be seen as an important lens on technology development and decarbonization worldwide,' says Jake Foose, research analyst with Guidehouse Research. 'While global efforts to decarbonize in the wake of the Paris Agreement have experienced some setbacks and slow starts, transportation electrification has been continuously moving forward. The advantages of full vehicle electrification are numerous, and the goal for many governments is to move entirely to BEVs.'
Electrification options have diversified, as drivers are not yet ready for the full transition. Lack of charging infrastructure is holding back BEV deployment in many markets. In some regions, backlash against decarbonization has led to uncertainty in the transportation market, with some investors wary of committing significant capital. OEMs are revising their roadmaps to add more vehicle options and walking back some of their earlier decarbonization commitments. Yet even in the wake of the 2024 US presidential election, the EV industry is expected to continue to grow. As the wave of decarbonization grows stronger, the push for more efficient vehicles has reached a tipping point, and Guidehouse Research expects it to only accelerate.
The report, Light Duty Vehicle Electrification, serves as the most recent update of Guidehouse Research' outlook for the global LDV market. It provides an analysis of global LDV sales for the next decade, with a specific focus on vehicle electrification. It examines the effect of various market drivers, including government incentives and lower cost per mile, on the markets for six vehicle classifications: ICE vehicles, BEVs, PHEVs, HEVs, EREVs, and FCVs. An executive summary of the report is available for free download on the Guidehouse Research website.
About Guidehouse Research Guidehouse Research, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today's rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Research can be found at www.guidehouseresearch.com.
About GuidehouseGuidehouse is a global AI-led professional services firm delivering advisory, technology, and managed services to the commercial and government sectors. With an integrated business technology approach, Guidehouse drives efficiency and resilience in the healthcare, financial services, energy, infrastructure, and national security markets. Built to help clients across industries outwit complexity, the firm brings together approximately 18,000 professionals to achieve lasting impact and shape a meaningful future.
* The information contained in this press release concerning the report, Light Duty Vehicle Electrification, is a summary and reflects the current expectations of Guidehouse Research based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Guidehouse Research nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
For more information, contact:
Cecile Fradkin for Guidehouse Research +1.646.941.9139cfradkin@scprgroup.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malaysian Reserve
an hour ago
- Malaysian Reserve
GAC Group Named Official Vehicle Partner at 7th BRICS Media & Think Tank Forum
RIO DE JANEIRO, July 23, 2025 /PRNewswire/ — The 7th BRICS Media and Think Tank Forum, co-hosted by Xinhua News Agency and Empresa Brasil de Comunicação (EBC), was held in Rio de Janeiro on July 16. GAC Group, a leading Chinese automaker, served as the official vehicle partner of the event, providing transportation support and showcasing its latest models on site. Photo – View original content:
Malaysian Reserve
an hour ago
- Malaysian Reserve
Guidehouse Research Explores Evolving Electric Vertical Takeoff and Landing Technology Market
eVTOLs are on the verge of full commercial manufacturing and approval BOULDER, Colo., July 23, 2025 /PRNewswire/ — A new report from Guidehouse Research explores electric vertical takeoff and landing (eVTOL) technology, industry players, and proposed business models for rolling out eVTOLs. Now that EVs are being fully rolled out on the ground, developers are looking at other transformations for moving people around. With technological advances increasing every year, eVTOLs are on the verge of full commercial manufacturing and approval, but are flying-car services really on the horizon? According to a new report from Guidehouse Research, with the imminent certification and commercialization of eVTOL vehicles fueling the idea of cars flying over traffic, market watchers can be forgiven for believing that all traffic problems have been solved, and congestion will never be a problem again. 'Many manufacturers of these aircrafts are attempting to speed up their commercial development by launching them as part of a larger air ride-hailing service, like an 'Uber in the sky,'' says Jake Foose, research analyst with Guidehouse Research. 'Whether or not the market is ready for that service to roll out is one issue, but another is whether the vehicles themselves are ready for a flight hailing service.' According to the report, Guidehouse Research suggests: The current eVTOL target business model is unrealistic and shows few signs of applicability to a larger market. After the initial rollout, eVTOL operators should not focus on flight-hailing services. Battery swapping technology could be developed to alleviate charging infrastructure issues that might arise while operating eVTOLs as passenger aircraft. The report, Electric Vertical Takeoff and Landing Vehicle Services Create Fewer Advantages Than Initially Thought, reviews current eVTOL technology, industry players, and proposed business models for rolling out eVTOL. Guidehouse Research provides detailed and actionable recommendations for eVTOL manufacturers, both for short-term business models and for technology developments that could assist overall market share. An executive summary of the report is available for free download on the Guidehouse Research website. About Guidehouse ResearchGuidehouse Research, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today's rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Research can be found at About GuidehouseGuidehouse is a global advisory, technology, and managed services firm delivering value to commercial businesses and federal, state, and local governments. Purpose-built to serve industries focused on communities, energy, infrastructure, healthcare, financial services, defense, and national security, Guidehouse positions clients for AI- and data-led innovation, efficiency, and resilience. With a relentless pursuit of client success and high-quality standards, more than 18,000 colleagues collaborate across the firm to outwit complexity and achieve transformational impact, shaping the future by inspiring meaning in mission. * The information contained in this press release concerning the report, Electric Vertical Takeoff and Landing Vehicle Services Create Fewer Advantages Than Initially Thought, is a summary and reflects the current expectations of Guidehouse Research based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Guidehouse Research nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report. For more information, contact: Cecile Fradkin for Guidehouse Research+1.646.941.9139cfradkin@
Malaysian Reserve
2 hours ago
- Malaysian Reserve
Submit Your Q2 941 Tax Form Before the Looming Deadline with ezPaycheck
The IRS Form 941 Deadline is July 31st — Stay Compliant and Avoid Penalties by E-Filing with ezPaycheck or ezAccounting. Purchase E-Files Today for a Faster, Easier Filing Experience! REDMOND, Wash., July 22, 2025 /PRNewswire/ — The IRS Form 941 deadline is quickly approaching on July 31st , and now is the time to ensure your payroll taxes are filed accurately and on time. With ezPaycheck , e-filing your 941 form with is simple, fast, and reliable—helping you stay compliant and avoid costly penalties. Don't wait— purchase your e-files today and experience a stress-free, efficient filing process with the help of our experienced staff. What is efile 941 service via ezPaycheck? Purchase efile here For those filings, the charge is determined by each form sent starting at $5.95 but rapidly decreasing in cost. Consumers can monitor their submissions on the submissions page . Here you can view the status of submissions and any possible errors that may have occurred. 'Clients are fully prepared to tackle the upcoming second quarter 941 deadline with a secure feature to upload the 940 and 941 form for quarterly reporting to the IRS with the new e941 add-on,' said Dr. Ge, the Founder of Discover how effortless payroll and tax form processing can be—download and explore ezPaycheck today to streamline your business. Try it risk-free; all forms and checks will remain in trial mode until you activate with a one-time key for just $169 per installation for a calendar year. (941 form e-File is available as an optional add-on.) Best of all, any data you enter during the trial stays intact when you upgrade—clients can begin with confidence! Clients value the unique features in the latest ezPaycheck payroll software , including flexible pay schedules, automatic tax calculations, and built-in tax tables for all 50 states. The software prints payroll and miscellaneous checks, supports multiple companies, and handles differential pay with ease. ezPaycheck payroll software is compatible with Windows 11, 10, 8, 7 and other Windows systems. We also sell a MAC version separately. Users can print tax forms like 941, 940, 943, W2, and W3, and now securely e-file 941/940/94x forms directly within the software using the IRS-authorized system. ezPaycheck supports multiple accounts, offers optional network access, and provides a 30-day free trial —no registration or obligation required . Check out a few products that integrate seamlessly with ezPaycheck for upcoming tax form deadlines: ez1099 : Simplifies the preparation and e-filing of 1099 forms. ezW2 : Simplifies the preparation and e-filing of W2, 1099 NEC forms. ezW2Correction: Printing and e-filing of W2 and W3 Corrections for years 2015 to 2024. It is SSA approved to print on plain white paper and trusted by thousands. As always, all applications can be tested prior to purchase to ensure complete compatibility before purchase. Also, all data entered into the trial version will remain. No adding data twice! Please note: trial watermark will appear on the checks and forms until the purchased key is entered into the application. Start your test drive today on our website. For over two decades, has been a trusted partner to thousands of U.S. businesses, delivering powerful and affordable software solutions designed to simplify everyday operations. From online and desktop payroll tools to employee attendance tracking, accounting, check printing, W2, 1099, 1095 filing, and ezACH direct deposit software— offers everything small business owners need to stay compliant, save time, and run more efficiently. Whether you're managing payroll in-house or streamlining tax reporting, our easy-to-use software is built to help you take control and grow with confidence.
