PUBLISHER: 360iResearch | PRODUCT CODE: 1470592
PUBLISHER: 360iResearch | PRODUCT CODE: 1470592
[186 Pages Report] The EV Platform Market size was estimated at USD 11.01 billion in 2023 and expected to reach USD 12.96 billion in 2024, at a CAGR 21.77% to reach USD 43.74 billion by 2030.
The electric vehicle (EV) platform market refers to the burgeoning industry that revolves around designing, developing, manufacturing, and deploying platforms specifically used for electric vehicles. The rising production & sales of passenger electric vehicles worldwide are raising the demand for EV platforms in global markets. The strong government support for adopting electric vehicles among the worldwide population has increased the adoption of electric vehicle (EV) platforms. The advantages of modular electric vehicle platforms compared to traditional chassis also contribute to increasing market demand for electric vehicle platforms. However, significant upfront costs for electric vehicle platform manufacturing may limit its adoption in the upcoming years. The complex integration with existing systems of EV platforms is also a factor concerning market growth. Moreover, the diversification and customization of product offerings in electric vehicles is expected to attract significant growth potential in the market. The continued advancements in battery technology, charging infrastructure, and electric drivetrains are generating lucrative opportunities for market growth.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 11.01 billion |
Estimated Year [2024] | USD 12.96 billion |
Forecast Year [2030] | USD 43.74 billion |
CAGR (%) | 21.77% |
Component: Diverse types of components installed on EV platforms
The battery is an essential component of the electric vehicle (EV) platform as a supernumerary power source that provides electricity to power the motor. Lithium-ion batteries are preferred on EV platforms due to their high energy efficiency, high power to weight ratio and low self-discharge rate. EVs feature regenerative braking systems, creating a paradigm shift from traditional braking systems by efficiently slowing down the vehicle and concurrently recharging the EV battery. The chassis supports an EV's body as design of the chassis can dramatically affect the vehicle's fuel efficiency and overall performance. EV manufacturers invest significantly in developing a lightweight yet sturdy chassis to increase the vehicle's range and stability, using materials such as aluminum and reinforced polymers. The Electronic Control Unit (ECU) on an EV platform is crucial for managing various vehicle subsystems as it directly influences motor control, battery management and regenerative braking. The electric motor converts the battery's electrical energy into mechanical energy, propelling the wheels. EVs usually have a lower center of gravity due to the positioning of the heavy battery, which enhances the effectiveness of the suspension system. The suspension system is designed to improve road handling and deliver a smooth ride, comprising components such as springs, shock absorbers, struts, control arms, and ball joints.
Platform: Ongoing advancements in P4 EV platforms
P0 hybrid architecture replaces the alternator and allows for a silent engine start, while reducing the impact on the belt drive. P1 hybrid architecture and high voltage integrated starter generators enable high-efficiency power generation while featuring regenerative braking and acceleration assist in electric vehicles. P2 module for hybrid electric vehicles facilitates fast-to-market hybridization as it enables pure electric driving as well as hybrid functionalities such as stop/start, regenerative braking and supplemental electric propulsion in electric vehicles. P3 hybrid architecture offers higher system efficiency and improved energy recovery capability to meet increasing power demands. In P4 hybrid architecture, both electro-hydraulic and electro-magnetic clutch actuation technologies and controls deliver outstanding vehicle traction and handling performance.
Sales Channel: Effective distribution through OEM sales channel
The aftermarket channel refers to the sales of parts, accessories, and services after the original sale of the electric vehicle (EV) platforms. Aftermarket sales channels often leverage a network of independent retailers, repair shops, and online marketplaces to reach consumers seeking to maintain or enhance their EVs' performance. OEM sales channels are where the original equipment manufacturers of electric vehicles sell their EV platforms and proprietary parts directly to consumers or through authorized dealerships. OEM sales channel ensures that buyers receive vehicles and products that meet the manufacturer's original design and quality standards
Electric Vehicle Type: Significant utilization of EV platforms in battery electric vehicles
Battery Electric Vehicles (BEVs) are electric vehicles powered exclusively by electricity stored in onboard batteries, which are recharged via an external power source. The batteries are arranged effectively on EV platforms in battery electric Vehicles & hybrid vehicles for efficient vehicle design. Plug-in Hybrid Electric Vehicles (PHEVs) are equipped with both an electric drivetrain and an internal combustion engine and it has the ability to directly recharge via external power source. EV platforms are highly scalable and modular, permitting automakers to produce diverse plug-in hybrid electric vehicles models without continually redesigning the fundamental structure. This reduces development costs and hastens the production process.
Regional Insights
The Americas region, led by the United States, has emerged as a robust player in the EV market. The Americas region presents considerable potential for EV platforms backed by stringent emission standards and favorable government incentives. Europe offers a significant share in the global EV market, driven by the EU's heavy emphasis on environmental sustainability and ambitious decarbonization goals. Additionally, countries such as the UK, Norway, and Germany have seen a surge in EV adoption, underpinned by strong government support and substantial charging infrastructure. The Asia-Pacific market is spearheading the EV revolution, with China at the forefront, accounting for nearly half of the world's EV sales. India, Japan, South Korea, and Australia contribute significantly to the APAC region's growth. Rapid urbanization, increasing middle-class population, and governmental emission reduction targets play a noteworthy role in influencing this market in the APAC region.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the EV Platform Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the EV Platform Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the EV Platform Market, highlighting leading vendors and their innovative profiles. These include AB volvo, Alcraft Motor Company Ltd., American Honda Motor Co., Inc., Audi AG, Audi of America, Inc., BENTELER International, BYD Company Ltd., Canoo Technologies Inc., Chery Automobile Co., Ltd., Cruise Car Inc., Eaton Corporation PLC, Faraday&Future Inc., Ford Motor Company, Groupe Renault, Hon Hai Precision Industry Co., Ltd., Honda Motor Co. Ltd., Hundai Motor Company, Hyundai Motor Company, Mahindra Group, Mercedes-Benz AG, NIDEC Corporation, Nissan Motor Co., Ltd., REE Automotive Ltd., Rivian Automotive, Inc., SAIC Motor Corporation Limited, Sony Group Corporation, Stellantis NV, Tata Motors Ltd., Tesla. Inc., The General Motors Company, Toyota Motor Corporation, Toyota Motor Sales, U.S.A... Inc., VIA Motors, Inc., VIA Motors, Inc. by Ideanomics, Volkswagen AG, and Zero Labs Automotive, Inc..
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the EV Platform Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the EV Platform Market?
3. What are the technology trends and regulatory frameworks in the EV Platform Market?
4. What is the market share of the leading vendors in the EV Platform Market?
5. Which modes and strategic moves are suitable for entering the EV Platform Market?