Global EV Platform Market Analysis and Forecast 2022-2030
The global EV platform market expected to cross USD 97.3 Billion by 2030 and is projected to grow at a CAGR of 3.5% during the forecast period from 2022 to 2030.
EV Platform Market Overview:
An electric vehicle platform is an electric vehicle charging station. Therefore, it mainly affects the characteristics and specifications of electric vehicles. The platform has the steering, suspension and lower mechanism. The floor serves as the vehicle's body and chassis. A vehicle contains a battery used to power the vehicle. These platforms have been designed, modified and assembled to service multiple models of electric vehicles. This technology reduces the cost of electric vehicles. These types of electric vehicles offer improved cab designs, engines, and batteries. Growing demand for EVs across the globe, shift in the automotive industry to EVs, and continued price decline of lithium-ion batteries are expected to drive the growth of the global EV platform market.
EV Platform market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global EV Platform market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
Significant EV Platform Market Dynamics and Growth Factors:
As the automotive industry moves toward connected, autonomous, shared, and electric vehicles (CASE), original equipment manufacturers (OEMs) are working hard to redesign existing platforms to accommodate electric vehicle (EV) components such as batteries and engines. are doing However, the shift from vehicle-centric to service-centric requires the industry to develop new digital platforms (software, backhaul connectivity and cloud). The modular electric vehicle platform of the future will be flexible and multi-faceted, building multiple models and shapes from a single program, helping OEMs save time, energy and money needed to bring new models to market. The automotive industry of the future will no longer be limited to traditional vehicle manufacturing methods. Sales will focus on creating new downstream revenue streams by focusing on users, not cars. Although the initial investment required to develop a dedicated and scalable platform is very high, the excessive flexibility provided by the platform offsets this investment through economies of scale. Also, compared to other platforms, much less time, investment and effort is required to build a variety of BEVs on an EV platform. Therefore, the emergence of flexible and multifaceted EV platforms in the near future is expected to revolutionize the market and will propel the overall market growth over the forecast period.
- VW Group intends to build EVs of all sizes using several of the same parts so that it can make its e-models profitable. The company intends to build MEB cars in eight locations, globally, by 2022. Furthermore, it predicts it would sell 15 million vehicles on the EV platform over the next decade.
- Tesla Inc. and Nissan have introduced high-performance EVs running on new EV platforms that offer a quieter, smoother, hassle-free ride on the road. The new design of EV platforms has the added benefit of EVs' lower maintenance costs.
The EV Platform market research report is categorized based on type, applications and region.
Market Key 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, Saic Motor, Toyota, Volkswagen, Volvo, XAOS Motors, Zotye, and others.
- Hybrid Electric Vehicle
- Battery Electric Vehicle
- Passenger Vehicles
- Commercial Vehicles
Geographically, the global EV Platform market has been analysed in various regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA).
The continued increase in EV penetration rates in several countries in East Asia and Europe at a significant rate is a significant factor driving the global EV platform market, owing to the increasing R&D investment in these countries. Europe is experiencing a significant increase in EV penetration. As a result, the demand for EVs is expected to increase during the forecast period, which can boost the EV platform market.
The East Asian EV platform market is expected to expand significantly in the order of Europe and North America. The automotive industry in countries including China, Japan and South Korea is leaning toward technology, innovation and development of advanced EVs. The development of more advanced and faster charging stations is expected to propel the market for EVs and EV platforms. BYD, BAIC, Chery, and SAIC are the major players operating in the East Asian EV market, accounting for the largest share of the EV platform market.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
EV Platform Market report scope
CAGR of 3.5% from 2022 to 2030.
Hybrid Electric Vehicle, Battery Electric Vehicle
Passenger Vehicles, Commercial Vehicles
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, Saic Motor, Toyota, Volkswagen, Volvo, XAOS Motors, Zotye
Regions and Countries Covered
2017 to 2022
2023 to 2030
Key Takeaways from this EV Platform Report
- Estimate EV Platform market potential through analysing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the EV Platform market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions
At what CAGR is the EV Platform market projected to grow in the forecast period 2022 to 2030?
What are the types of EV Platform market?
What are the applications of EV Platform market?
Who are the top players in EV Platform market?
Which application segment is expected to drive the growth of the EV Platform market in the next 5 years?
Which are the key deployments types adopting EV Platform market?