EV Platform Market size was valued at USD 71.4 Bn. in 2020 and the total revenue is expected to grow at 3.49% through 2021 to 2027, EV Platform Market is reaching nearly USD 96.8 Bn. by 2027.
EV Platform Market Overview:The electric vehicle platform is a type of electric vehicle charging station. As a result, it has a considerable impact on the characteristics and specifications of electric vehicles. This platform includes the underbody, suspension, and steering mechanisms. The vehicle's body and chassis are built into the floor. This vehicle features a battery that allows it to run on electricity. These platforms are designed, modified, and constructed in order to accept a wide range of electric vehicle models. Electric vehicles become more affordable as a result of this technology. The cabin design, as well as the motors and batteries, are all improved in this type of electric vehicle. To know about the Research Methodology :- Request Free Sample Report
EV Platform Market Dynamics:Market Growth will be increased by Restricting Environmental Laws and Increasing Demand for Electric Vehicles – The global automobile industry has seen significant changes in recent years as a result of amazing technology breakthroughs and a changing regulatory framework. Currently, the global automobile industry is moving toward a more sustainable and environmentally friendly future, with OEMs and other stakeholders being forced to invest in new technologies and innovations that fit with the changing regulatory landscape. Electric vehicles have grown in popularity over the last decade all around the world. While global awareness of electric vehicles continues to rise, so do global sales of electric vehicles, a trend that is likely to support the global EV platform market's growth. During the forecast period, demand for electric vehicles is likely to be a major factor driving the global EV platform market. Companies in the current EV platform industry are progressively concentrating on providing clients with cost-effective and efficient EV platforms, closing the cost gap between electric vehicle engines and internal combustion engines (ICEs). Several top-tier competitors in the market are also expected to develop revolutionary EV platforms over the next decade, which is expected to aid the global EV platform market's growth throughout the forecast period. Market players are focusing their efforts on closing the cost gap between internal combustion engines and electric engines – Despite the fact that demand for electric vehicles has been steadily increasing over the last few years, only a few OEMs benefit from sales of electric vehicles. The significant cost difference between electric engines and internal combustion engines is expected to drive innovation and pave the way for low-cost EV platform models in the near future. One of the main reasons why electric vehicles are more expensive than hybrid or ICE-vehicle architecture automobiles is the high cost of electric batteries. As a result, some participants in the EV platform market landscape are focusing on constructing the EV on a scalable and flexible platform in order to offset these expenses. While certain OEMs are progressively investing in the development of purpose-built EV platforms for the production of electric vehicles, others are predominantly depending on ICE-vehicle design. To gain a competitive advantage, market players are focusing on launching new electric vehicle platforms – Given the rising demand for electric vehicles and the anticipation of more penetration in the future, some companies are considering launching new EV platforms in order to obtain a competitive advantage in the current market landscape. Besides, while top-tier companies are increasing their investments in the development of innovative EV platforms, a number of startups have entered the global EV platform market and are forming strategic alliances with other market players to establish their presence in the highly competitive EV platform market. For example, REE Automotive, an Israeli startup, has teamed up with KYB Corporation of Japan to develop a cutting-edge suspension for future electric car platforms. For REE's EV platform, KYB Corporation is planned to supply its portfolio of semi-active and active suspension systems. The cost of electric vehicles is substantially higher than that of traditional ICE (internal combustion engine) automobiles, and this is a major hindrance for the electric vehicle and EV platform market. Electric vehicles require charging stations, and for people to drive long distances, a network of such stations must be strategically positioned. Furthermore, battery recharging takes around an hour, which is nowhere near the efficiency of a gas refuel, thus limiting the EV platform market. EV Platform Market Segment Analysis: the EV Platform Market is segmented into Component, Electric vehicle type, Vehicle type and Sale channel. Based on Component, the market is sub-segmented into Chassis, Battery, Suspension System, Steering System, Drivetrain, Vehicle Interior and Others. During the forecast period, the battery segment is expected to account for a significant portion of the EV platform market. OEMs are concentrating on the development of new EV batteries that are expected to produce lower emissions at lower costs, resulting in increased investment in R&D for the battery segment and, ultimately, for the EV platform. Based on Electric Vehicle type, the market is sub-segmented into Battery electric vehicle and Hybrid electric vehicle. For the EV platform market, the battery electric vehicle segment is rapidly developing. Most automakers are concentrating their efforts on developing battery electric vehicles on newly developed EV platforms rather than hybrid electric vehicles, because the demand for BEVs outnumbers that for HEVs. Furthermore, developing a HEV requires far more resources and experience than developing a BEV, because a BEV does not have an ICE on the EV platform and is thus easier to create. Based on Vehicle type, the market is sub-segmented into Hatchback, Sedan, Utility Vehicles and Others. Utility vehicles accounted for a substantial portion of the global EV platform market. In China, consumers prefer compact sedans, but the introduction of new and more appealing SUVs has switched demand to utility vehicles. The number of sedans sold is decreasing. They are neither as practical as hatchbacks nor as spacious as SUVs, and consumers in Asia and the United States demand vehicles that are both spacious and practical. The increased size of smaller vehicles has resulted in a decrease in demand for hatchbacks across Europe and Latin America.
EV Platform Market Regional Analysis:A major driver driving the global EV platform market is the consistent rise in EV penetration at a large rate across various nations in East Asia and Europe, as well as increased investment in R&D in these countries. The use of electric vehicles is growing rapidly across Europe. As a result, demand for EVs is expected to increase during the forecast period, increasing the market for EV platforms. The EV platform market in East Asia is expected to grow rapidly, followed by Europe and North America. China, Japan, and South Korea all have automotive industries that are focused on technology, innovation, and the development of advanced electric vehicles. The EV and EV platform industry is expected to be propelled by the development of more advanced and rapid charging stations. BYD, BAIC, Chery, and SAIC are major players in the East Asian electric vehicle market, which accounts for the majority of the EV platform market. The objective of the report is to present a comprehensive analysis of the global EV Platform Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps understand the global EV Platform Market dynamics and structure by analyzing the market segments and projects the global EV Platform Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global EV Platform Market make the report investor’s guide.
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EV Platform Market Report Coverage Details Base Year: 2020 Forecast Period: 2021-2027 Historical Data: 2016 to 2020 Market Size in 2020: USD 71.4 Bn. Forecast Period 2021 to 2027 CAGR: 3.49 % Market Size in 2027: USD 96.8 Bn. Segments Covered: by Component • Chassis • Battery • Suspension System • Steering System • Drivetrain • Vehicle Interior • Others by Electric vehicle type • Battery Electric Vehicle • Hybrid Electric Vehicle by Sale channel • OEM • Aftermarket by Vehicle type • Hatchback • Sedan • Utility Vehicles • Others
Global EV Platform Market, by Region• North America • Europe • Asia Pacific • Middle East and Africa • South America
Global EV Platform 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 Frequently Asked Questions: 1) What was the market size of the EV Platform Market in 2020? Ans - EV Platform Market was worth US$ 71.4 Bn. in 2020. 2) What is the market segment of the EV Platform Market? Ans -The market segments are based on Component, Electric vehicle type, Sale channel and Vehicle type. 3) What is the forecast period considered for EV Platform Market? Ans -The forecast period for EV Platform Market is 2021 to 2027. 4) What is the EV Platform Market size in 2027? Ans – Global EV Platform Market is estimated as worth US $ 96.8 Bn. 5) Which region is dominated in EV Platform Market? Ans -In 2020, the Asia pacific region dominated the EV Platform Market.
1. Global EV Platform Market: Research Methodology 2. Global EV Platform Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global EV Platform Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global EV Platform Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-17.6 Impact 4. Global EV Platform Market Segmentation 4.1. Global EV Platform Market, by Component (2020-2027) • Chassis • Battery • Suspension System • Steering System • Drivetrain • Vehicle Interior • Others 4.2. Global EV Platform Market, by Electric vehicle type (2020-2027) • Battery Electric Vehicle • Hybrid Electric Vehicle 4.3. Global EV Platform Market, by Sale channel (2020-2027) • OEM • Aftermarket 4.4. Global EV Platform Market, by Vehicle type (2020-2027) • Hatchback • Sedan • Utility Vehicles • Others 5. North America EV Platform Market (2020-2027) 5.1. North America EV Platform Market, by Component (2020-2027) • Chassis • Battery • Suspension System • Steering System • Drivetrain • Vehicle Interior • Others 5.2. North America EV Platform Market, by Electric vehicle type (2020-2027) • Battery Electric Vehicle • Hybrid Electric Vehicle 5.3. North America EV Platform Market, by Sale channel (2020-2027) • OEM • Aftermarket 5.4. North America EV Platform Market, by Vehicle type (2020-2027) • Hatchback • Sedan • Utility Vehicles • Others 5.5. North America EV Platform Market , by Country (2020-2027) • US • Canada • Mexico 6. European EV Platform Market (2020-2027) 6.1. European EV Platform Market , by Component (2020-2027) 6.2. European EV Platform Market , by Electric vehicle type (2020-2027) 6.3. European EV Platform Market, by Sale channel (2020-2027) 6.4. European EV Platform Market, by Vehicle type (2020-2027) 6.5. European EV Platform Market , by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific EV Platform Market (2020-2027) 7.1. Asia Pacific EV Platform Market , by Component (2020-2027) 7.2. Asia Pacific EV Platform Market , by Electric vehicle type (2020-2027) 7.3. Asia Pacific EV Platform Market, by Sale channel (2020-2027) 7.4. Asia Pacific EV Platform Market, by Vehicle type (2020-2027) 7.5. Asia Pacific EV Platform Market , by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa EV Platform Market (2020-2027) 8.1. Middle East and Africa EV Platform Market , by Component (2020-2027) 8.2. Middle East and Africa EV Platform Market , by Electric vehicle type (2020-2027) 8.3. Middle East and Africa EV Platform Market, by Sale channel (2020-2027) 8.4. Middle East and Africa EV Platform Market, by Vehicle type (2020-2027) 8.5. Middle East and Africa EV Platform Market , by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America EV Platform Market (2020-2027) 9.1. Latin America EV Platform Market, by Component (2020-2027) 9.2. Latin America EV Platform Market by Electric vehicle type (2020-2027) 9.3. Latin America EV Platform Market, by Sale channel (2020-2027) 9.4. Latin America EV Platform Market, by Vehicle type (2020-2027) 9.5. Latin America EV Platform Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. BMW 10.1.1. Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Alcraft Motor Company 10.3. Baic Motor 10.4. BMW 10.5. BYD 10.6. Byton 10.7. Canoo 10.8. Chery 10.9. Daimler 10.10. Faraday Future 10.11. Fisker 10.12. Ford 10.13. Geely 10.14. General Motors 10.15. Honda 10.16. Hyundai 10.17. JAC 10.18. Kia Motors 10.19. Nissan Motor 10.20. Open Motors 10.21. REE Auto 10.22. Rivian 10.23. Saic Motor 10.24. Toyota 10.25. Volkswagen 10.26. Volvo 10.27. XAOS Motors 10.28. Zotye