Electric Vehicle Platform Market Size, Industry Analysis Report By Component (Battery Cells and Packs, On-Board Charger, Infotainment System), By Propulsion Type (Plug-In Hybrid Electric Vehicles (PHEVs), Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), Fuel Cell Electric Vehicles (FCEVs)), By Charging Station Type (Normal Charging, Super Charging), By Class Type (Mid-Priced, Luxury), By Power Train (Parallel Hybrid, Series Hybrid, Combined Hybrid) By Vehicle Type (Passenger Cars, Two Wheelers, Commercial Vehicles) & Region – Forecast

  • 14/11/2022
  • 250
  • Automotive & Transportation
Electric Vehicle Platform Market: Overview
The global electric vehicle market was estimated at USD 175 billion in 2022 and is expected to reach over USD 1105.15 billion by 2030, growing at a compound annual growth rate (CAGR) of 24.1% over the forecast period. Electric vehicles (EVs) are self-propelled cars that can move passengers and cargo from one location to another. They consist of plug-in hybrid electric vehicles, hybrid electric vehicles, as well as battery electric vehicles (PHEVs). They are charged by self-charging mechanisms like turbochargers and regenerative braking systems, which can transform electrical power from kinetic energy, and they operate on the energy stored in batteries. Along with this, EVs are less dependent on oil and cost more to operate than conventional cars. They also have no exhaust emissions. They are thus getting a tonne of popularity all around the world.

Electric Vehicle Platform Market- Growth Factors
The sale of electric vehicles is anticipated to increase in the future years as a result of a significant number of government programs, including tax rebates, grants, and other non-financial perks like access to carpool lanes and subsidies. For instance, German automakers increased their cash incentives for electric cars in November 2019 to delay the switch from internal combustion to battery-powered engines to prevent hazardous emissions. The sale of electric vehicles has increased significantly in recent decades in nations including the United States, China, and several European nations; this, in turn, will help the industry expand. Nevertheless, a number of key obstacles that have been identified as impeding market expansion include a lack of charging infrastructure, variances in charging load, and a lack of standardization. For charging electric vehicles, several regions, including China, Europe, the United States, Japan, Korea, and others, have varied standards. To address this issue, certain electric vehicle manufacturers, like Tesla Inc., are concentrating on a worldwide standardization of the charging infrastructure. Nevertheless, it is projected that increasing the use of electric vehicles in the public and commercial sectors will propel the market.

Electric Vehicle Platform Market – Market Trends
• The need for a new form of transportation drives the market. A low-cost manufacturing process is necessary for EVs, or else demand for these goods could decline. All automakers who want to enter the EV industry would therefore warmly welcome the market for these platforms.
• Government restrictions on the movement of vehicles, a drop in the price of electric vehicle batteries, and an increase in fuel prices.
• Insufficient range serviceability, charging structure, and expensive production costs.

Electric Vehicle Platform Market – Segmentation
Electric Vehicle Platform Market on the basis of Component, the market is fragmented into:
• Battery Cells and Packs
• On-Board Charger
• Infotainment System
• Others

Electric Vehicle Platform Market on the basis of Propulsion Type, the market is segregated into:
• Plug-In Hybrid Electric Vehicles (PHEVs)
• Battery Electric Vehicles (BEVs)
• Hybrid Electric Vehicles (HEVs)
• Fuel Cell Electric Vehicles (FCEVs)

Electric Vehicle Platform Market on the basis of Charging Station Type the market is bifurcated into:
• Normal Charging
• Super Charging

Electric Vehicle Platform Market on the basis of class Type the market is categorized into:
• Mid-Priced
• Luxury

Electric Vehicle Platform Market on the basis of power train the market is classified into:
• Parallel Hybrid
• Series Hybrid
• Combined Hybrid

Electric Vehicle Platform Market on the basis of vehicle type the market is divided into:
• Passenger Cars
• Two Wheelers
• Commercial Vehicles

Electric Vehicle Platform Market –Regional Analysis
Due to the introduction of cutting-edge technology and the increasing volume of research and development projects taking place there, North America currently controls the majority of the global market for electric vehicles. Due to the presence of government subsidies for the adoption of electric vehicles in the region, Asia-Pacific (APAC) is predicted to have substantial growth throughout the projection period.

Electric Vehicle Platform Market – Key Market players
The major players in the market are:
• Alcraft Motor Company
• Baic Motor
• Byton
• Canoo
• Chery
• Daimler
• Faraday Future
• Fisker
• Ford
• Geely
• General Motors
• Honda
• Hyundai
• Kia Motors
• Nissan Motor
• Open Motors
• REE Auto
• Rivian
• Saic Motor
• Toyota
• Volkswagen
• Volvo
• XAOS Motors
• Zotye

Report scope
Global Electric Vehicle Platform Market: Historical Years- 2018-2021
Global Electric Vehicle Platform Market: Forecast Years- 2022-2030
Global Electric Vehicle Platform Market 2022- USD 175 billion
Global Electric Vehicle Platform Market CAGR- 24.1%

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).


The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.

Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.


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