Selbyville, Delaware, Aug. 22, 2023 (GLOBE NEWSWIRE) --
The EV platform market is projected to reach USD 65 billion by 2032, as reported in a research study by Global Market Insights Inc.
An increasing focus on reducing carbon emissions and combating climate change is expected to have a positive impact on the industry outlook. Electric vehicles offer a cleaner alternative to traditional internal combustion engine vehicles, as they produce zero tailpipe emissions. Governments, regulatory bodies, and consumers are actively shifting toward electric vehicles, which drives the demand for EV platforms. Moreover, the establishment of an adequate charging infrastructure in various developed countries is fueling the market growth.
The electric vehicle platform market from the battery electric vehicle segment is primed to depict a remarkable growth from 2023 to 2032, due to a growing awareness of the environmental impact of traditional gasoline and diesel vehicles. This has resulted in a shift of consumer preference for cleaner and more sustainable transportation options, increasing the demand for BEVs.
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The EV platform market from the commercial vehicle segment will exhibit a decent CAGR through 2032, driven by increasing implementation of strict environmental regulations to reduce greenhouse gas emissions and combat climate change. Adopting electric vehicles for commercial applications aligns with business requirements and allows companies to display their commitment to reducing their carbon footprint. This also enhances their brand goodwill and attracts environmentally conscious customers.
North America EV platform market is predicted to garner substantial gains by 2032, due to supportive government initiatives towards zero-emissions. A growing awareness of the environmental impact of traditional internal combustion engine vehicles, including air pollution and greenhouse gas emissions has encouraged federal, state, and local authorities to implement policies and incentives including tax credits, grants, subsidies, and infrastructure development programs to promote the adoption of electric vehicles, complementing the market outlook in the region.
Major players involved in electric vehicle platform market include Volkswagen Group, Hyundai Motor Group, BYD Company Ltd., Renault, and Ford. These firms engage in a series of strategic partnerships and new vehicle type launches to stay ahead in the industry.
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EV Platform Industry News
- In March 2023, Renault, an automotive firm, announced the launch of the future electric Renault 5 prototypes with CMF EV platform. This innovative launch will complement the company’s zero-emission goal and reduce manufacturing costs by 30% compared to ZOE.
- In January 2023, Ford, another automotive company, intends to release its own in-house EV platform in Europe, shifting from its previous alliance with Volkswagen modular electric drive matric platform. This will help the company to expand its business outreach and R&D initiatives.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 EV platform market 360º synopsis, 2018 - 2032
2.2 Business trends
2.3 Regional trends
2.4 Vehicle trends
2.5 Platform trends
2.6 Application trends
2.7 Sales-channel trends
Chapter 3 EV Platform Market Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 EV platforms offer flexible manufacturing of automobiles
3.10.1.2 Rise in government initiatives and incentives
3.10.1.3 Increase in consumer demand
3.10.1.4 Investment in R&D by companies on new technologies
3.10.2 Industry pitfalls & challenges
3.10.2.1 High initial development cost
3.10.2.2 Limited EV platforms present in the market
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
