Farmington, April 14, 2023 (GLOBE NEWSWIRE) -- The Global EV platform market was valued at USD 9.0 billion in 2022 And Is Expected To Expand USD 68.0 billion By 2030 at a CAGR Of 3.5% From 2022 To 2030. During the forecast period, the global EV platform market is anticipated to expand considerably due to the increasing adoption of electric vehicles, the implementation of regulatory norms by various organizing bodies on ICEs, and technological advancements in electric batteries and power trains. Electric vehicle platforms effectively reduce production costs without sacrificing the quality of electric vehicles. In addition, an increase in government expenditures for the establishment of public charging infrastructure is likely to stimulate market growth in the near future.
Increasingly, vehicle manufacturers are introducing new platforms in partnership with new entrants in the vehicle industry. By increasing R&D expenditures, OEMs are attempting to enhance the design of vehicle platforms. Following the trends of the electric vehicle platform industry, market participants seize lucrative opportunities.
Request Sample Copy of Report“ The global EV platform market Size, Share & Trends Estimation Report By Type Outlook (Hybrid Electric Vehicle, Battery Electric Vehicle), By Application Outlook (Passenger Vehicles, Commercial Vehicles), By Sales Channel Outlook (OEM, Aftermarket), Region and Forecasts, 2023 - 2030”, published by Contrive Datum Insights.
Segmentation Overview:
Type Outlook:
Hybrid Electric Vehicle
Hybrid electric cars use both a gas engine and one or more electric motors, which get their power from batteries.
Battery Electric Vehicle
A battery electric vehicle (BEV), also called a pure electric vehicle, only-electric vehicle, fully electric vehicle, or all-electric vehicle, is a type of electric vehicle (EV) that runs only on chemical energy saved in rechargeable battery packs and has no other way to move.
Application Outlook:
Passenger Vehicles
EVs are automobiles with an electric powertrain that derive all or a portion of their power from electricity.
Commercial Vehicles
Commercial EV sales are highly dependent on the availability of decent financing options, and the Indian market currently lacks customer-centric financing options.
Sales Channel Outlook:
OEM
OEM is an abbreviation for "Original Equipment Manufacturer." Compared to replacement components, original equipment manufacturer (OEM) parts offer a number of advantages and benefits.
Aftermarket
Despite exorbitant prices, aftermarket EV sales in the U.S. skyrocketed in 2022. According to Kelley Blue Book, sales surpassed 800,000 for the first time as a result of the popularity of new models. This represented a 65 percent increase from 2021.
Regional Analysis:
Countries in East Asia and Europe are investing more money in research and development, so more people are purchasing electric vehicles (EVs). This company is a major participant in the global EV platform market. In Europe, the number of electric vehicles on the road is rapidly increasing. Because of this, the EV market is anticipated to expand over the next few years, which could benefit the EV platform market.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 3.5% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 68.0 billion |
| By Type |
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| By Application |
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| By Sales channel |
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| By Companies |
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| Regions and Countries Covered |
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| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Drivers: The advantages of a modular EV platform over a conventional chassis
The prices of both the EV platform and the electric vehicle are determined by the prices of the batteries; the batteries account for approximately 40% of the cost of the electric vehicle. How much this will cost is directly proportional to the size of the battery. Initially, large cells were extremely expensive.
Restraints: EV systems are prohibitively expensive to produce initially.
In electric vehicles, the range of the vehicle is determined by the size of the battery pack, which also affects the price of the vehicle. Because the battery is so large, it is difficult to construct the foundation for an electric car. Therefore, vehicles with internal combustion engines are more expensive than those with electric engines.
Key Segments Covered:
Top Market Players:
- Alcraft Motor Company
- Baic Motor
- BMW
- BYD
- Byton
- Canoo
- Chery
- Daimler
- Faraday Future
- Fisker
- Ford
- Geely
- General Motors
- Honda
- Hyundai
- JAC
- Kia Motors
- Nissan Motor
- Open Motors
- REE Auto
- Rivian
- Baic Motor
- Toyota
- Volkswagen
- Volvo
- XAOS Motors
- Zotye and others.
By Type
- Hybrid Electric Vehicle
- Battery Electric Vehicle
By Application
- Passenger Vehicles
- Commercial Vehicles
By Sales Channel
- OEM
- Aftermarket
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific:(Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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