Electric Vehicle Platform Market
Global Electric Vehicle Market was estimated at USD 175 Billion in 2022 and is projected to reach over USD 1105.15 Billion by 2030, growing at a compound annual growth rate (CAGR) of 24.1% over the period forecast.
The manufacturing of cars and other vehicles will change as electric vehicles become more prevalent. According to McKinsey & Company, EV makers are currently not making a lot of money, and each car costs $12,000 more than comparable gas-powered vehicles. As a result, the concept of using electric vehicle platforms was proposed. This implies that the base of electric vehicles will be generic, which will reduce production costs. Unlike the integrated arrangement previously used to create both internal combustion engine (ICE) and electric vehicles, these will require a separate configuration (EV). Therefore, the market for electric vehicle platforms is expected to grow as we rapidly move away from internal combustion engines for electric vehicles.
The global EV platform market is expected to be driven by the demand for EVs over the assessment period. Companies in today’s EV platform industry are increasingly focusing on providing their customers with affordable and efficient EV platforms and closing the cost gap between internal combustion engines and electric vehicle engines ( ICE). Over the next decade, several prominent market players are also expected to introduce game-changing EV platforms; this development is expected to support the expansion of the global EV platform market over the forecast period.
Electric vehicle platform market: dynamic
The need for a new form of transportation is driving the market. A low-cost manufacturing process is needed for electric vehicles, otherwise demand for these goods could decline. All automakers who want to enter the electric vehicle industry would therefore warmly welcome the market for these platforms. Electric car platform developers should prioritize keeping production costs as low as possible without sacrificing quality.
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Electric Vehicle Platform Market – Segmentation
Electric Vehicle Platform Market on the basis of Component, the market is fragmented into:
• Cells and battery packs
• On-board charger
• Infotainment system
Electric Vehicle Platform Market on the basis of propulsion type, the market is split into:
• Plug-in hybrid electric vehicles (PHEV)
• Battery Electric Vehicles (BEV)
• Hybrid Electric Vehicles (HEV)
• Fuel Cell Electric Vehicles (FCEV)
Electric Vehicle Platform Market on the basis of charging station type, the market is split into:
• Normal load
• Super Charge
Electric Vehicle Platform Market on the basis of class type the market is classified into:
• Average price
Electric Vehicle Platform Market on the basis of Powertrain, the market is classified into:
• Parallel hybrid
• Hybrid Series
• Combined hybrid
Electric Vehicle Platform Market on the basis of vehicle type, the market is split into:
• Particular Cars
• Two wheels
• Commercial vehicles
Electric Vehicle Platform Market – Regional Analysis
Due to the introduction of advanced technologies and the increasing volume of research and development projects taking place there, North America currently controls the majority of the global electric vehicle market. Due to the presence of government subsidies for the adoption of electric vehicles in the region, Asia-Pacific (APAC) is expected to experience substantial growth throughout the projection period.
Electric Vehicle Platform Market – Key Market Players
The main market players are:
• Alcraft Motor Co.
• Baic engine
• Faraday Future
• General Engines
• Kia Motors
• Nissan engine
• Open engines
• Automatic REE
• Saic engine
• XAOS engines
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Key Questions Answered by the Report
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• What factors are expected to drive market growth in the coming years?
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• Who are the main players in the sector?
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