PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1457964
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1457964
Electric Vehicle Component Market Size and Share Analysis by Component, End Use - Global Industry Revenue Estimation and Demand Forecast to 2030
The size of the electric vehicle component market was USD 123.1 billion in 2023, and it will reach USD 472.7 billion by 2030, at a rate of 21.3% throughout 2024-2030. This is because of the growing use of EVs, driven by strict fuel economy and emission norms, incentives from the government, and the development of charging infrastructure.
Growth Drivers
The major players are playing a big role in powering the industry development considerably. Furthermore, the EV market has seen a lot of development, largely because of the rising consciousness and acceptance amongst consumers all over the world.
With consumers becoming more and more informed about the advantages of EVs, a significant market expansion is observed and they will consider them as practical alternatives for diesel or gasoline vehicles.
Likewise, positive experiences and recommendations shared by early adopters have an impact on others to take up electric vehicles.
The cost of fuel is on the rise and the mounting concern of people toward pollution drives the requirement for zero-emission vehicles and brings about an increment in the manufacturing of superior EVs. This brings about a growth in the demand for electric vehicle components.
Battery Pack has the Leading Share in the Market
On the basis of component, the battery pack leads the market. This is because battery packs are important components of EVs, as these are key components for the storage of energy for EVs.
Similarly, their prices are lowering, because of the continuing research by automakers and manufacturers of battery packs, and the growing investment.
Also, with increased competition, an increasing number of automakers are making an entry into the market, with innovation and enhancements in battery technology.
With the help of the government in the form of subsidies, regulatory measures, and incentives, developments in battery packs are on the rise.
OEMs Make the Most Use of Electric Vehicle Components
OEMs are the largest users of electric vehicle components. This is because they provide various types of EVs, from hatchbacks to luxury sedans. The accessibility of various products equally attracts a lot of customers, resulting in enormous demand for EV components.
Also, because of the growing demand for EVs, the requirement for EV components is increasing for automakers to develop new electric vehicles.
There is also a considerable increase in aftermarket sales of components, with increasing interest in EVs has brought about many opportunities. From government organizations to MNCs, each entity wants to invest heavily in the tech innovation of EVs and their components.
APAC has the Largest Revenue Share
APAC has the largest revenue share, and it is also the fastest-growing region in the future. This is because of the accessibility of raw materials and affordable labor, the existence of key manufacturers, and an increase in the sales of EVs in India and China, owing to government subsidies and the existence of large facilities, for domestic production hence leading to the augmented demand for EV components.
There are many growing economies in the region. The governments of these nations have become familiar with the potential of EVs, which led to the growth of the industry, and they have taken numerous initiatives to attract key OEMs to make EVs in their nations.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by component
- 1.4.2. Market size breakdown, by end use
- 1.4.3. Market size breakdown, by region
- 1.4.4. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Revenue, by Component (2017-2030)
- 6.2.1. Battery pack market revenue, by type (2017-2030)
- 6.3. Market Revenue, by End Use (2017-2030)
- 6.4. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Revenue, by Component (2017-2030)
- 7.2.1. Battery pack market revenue, by type (2017-2030)
- 7.3. Market Revenue, by End Use (2017-2030)
- 7.4. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Revenue, by Component (2017-2030)
- 8.2.1. Battery pack market revenue, by type (2017-2030)
- 8.3. Market Revenue, by End Use (2017-2030)
- 8.4. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Revenue, by Component (2017-2030)
- 9.2.1. Battery pack market revenue, by type (2017-2030)
- 9.3. Market Revenue, by End Use (2017-2030)
- 9.4. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Revenue, by Component (2017-2030)
- 10.2.1. Battery pack market revenue, by type (2017-2030)
- 10.3. Market Revenue, by End Use (2017-2030)
- 10.4. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Revenue, by Component (2017-2030)
- 11.2.1. Battery pack market revenue, by type (2017-2030)
- 11.3. Market Revenue, by End Use (2017-2030)
- 11.4. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Revenue, by Component (2017-2030)
- 12.2.1. Battery pack market revenue, by type (2017-2030)
- 12.3. Market Revenue, by End Use (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Revenue, by Component (2017-2030)
- 13.2.1. Battery pack market revenue, by type (2017-2030)
- 13.3. Market Revenue, by End Use (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Revenue, by Component (2017-2030)
- 14.2.1. Battery pack market revenue, by type (2017-2030)
- 14.3. Market Revenue, by End Use (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Revenue, by Component (2017-2030)
- 15.2.1. Battery pack market revenue, by type (2017-2030)
- 15.3. Market Revenue, by End Use (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Revenue, by Component (2017-2030)
- 16.2.1. Battery pack market revenue, by type (2017-2030)
- 16.3. Market Revenue, by End Use (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Revenue, by Component (2017-2030)
- 17.2.1. Battery pack market revenue, by type (2017-2030)
- 17.3. Market Revenue, by End Use (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Revenue, by Component (2017-2030)
- 18.2.1. Battery pack market revenue, by type (2017-2030)
- 18.3. Market Revenue, by End Use (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Revenue, by Component (2017-2030)
- 19.2.1. Battery pack market revenue, by type (2017-2030)
- 19.3. Market Revenue, by End Use (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Revenue, by Component (2017-2030)
- 20.2.1. Battery pack market revenue, by type (2017-2030)
- 20.3. Market Revenue, by End Use (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Revenue, by Component (2017-2030)
- 21.2.1. Battery pack market revenue, by type (2017-2030)
- 21.3. Market Revenue, by End Use (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Revenue, by Component (2017-2030)
- 22.2.1. Battery pack market revenue, by type (2017-2030)
- 22.3. Market Revenue, by End Use (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Revenue, by Component (2017-2030)
- 23.2.1. Battery pack market revenue, by type (2017-2030)
- 23.3. Market Revenue, by End Use (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Revenue, by Component (2017-2030)
- 24.2.1. Battery pack market revenue, by type (2017-2030)
- 24.3. Market Revenue, by End Use (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Revenue, by Component (2017-2030)
- 25.2.1. Battery pack market revenue, by type (2017-2030)
- 25.3. Market Revenue, by End Use (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Revenue, by Component (2017-2030)
- 26.2.1. Battery pack market revenue, by type (2017-2030)
- 26.3. Market Revenue, by End Use (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Revenue, by Component (2017-2030)
- 27.2.1. Battery pack market revenue, by type (2017-2030)
- 27.3. Market Revenue, by End Use (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Revenue, by Component (2017-2030)
- 28.2.1. Battery pack market revenue, by type (2017-2030)
- 28.3. Market Revenue, by End Use (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. Robert Bosch GmbH
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. Contemporary Amperex Technology Co. Ltd.
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. Panasonic Corp.
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. Siemens AG
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. DENSO Corp.
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. LG Chem Ltd.
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. Tesla Inc.
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. Hitachi Ltd.
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. ABB Ltd.
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
- 30.10. BYD Co. Ltd.
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports
