Electric Vehicle Platform Market Demand Key Growth Opportunities. Development and Forecasts to 2016-2030

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.

The manufacturing of cars and other vehicles will change as electric vehicles become more prevalent. According to McKinsey & Company, currently, manufacturers of electric vehicles do not make a lot of money and that each car costs USD 12,000 more than comparable fuel-powered vehicles. As a result, the concept of employing platforms for electric vehicles was proposed. It implies that the Electric Vehicles' foundation will be generic, which will lower the production costs. Unlike the integrated arrangement previously utilised to create both Internal Combustion Engine (ICE) and Electric Vehicles, these will need a separate setup (EVs). Consequently, the market for electric vehicle platforms is expected to grow as we rapidly move away from internal combustion engines to electric vehicles.
The global EV platform market is anticipated to be driven by the demand for electric vehicles during the assessment period. Companies in the current EV platform industry are progressively concentrating on providing their clients with affordable and effective EV platforms and closing the cost gap between internal combustion engines and electric vehicle engines (ICEs). Over the course of the future decade, several top-tier market players are also anticipated to introduce revolutionary EV platforms; this development is anticipated to support the expansion of the worldwide EV platform market during the forecast period.
Electric Vehicle Platform Market: Dynamics
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. The developers of electric car platforms should prioritise keeping production costs as low as possible without sacrificing quality.

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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
• 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

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Key questions answered by the report
• What is the timeline for this report?
• Which factors are expected to drive the growth of the market in the coming years?
• What are the recent developments observed in the global business?
• Who are the leading participants in the sector?

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