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Revving Up Growth: Electric Vehicle Platform Market Poised to Surge to $24.92 Billion by 2027 with a Remarkable CAGR of 26.6% || Volkswagen Group, Toyota Motor Corporation
EV Platform Market
The Business Research Company's EV Platform Global Market Report 2023 identifies the increase in demand for electric vehicles (EVs) is the major driver for the EV platform market's growth in the forecast period. The electric vehicle is an automotive device powered by an electric motor that takes electricity from a battery and can be charged from an external source. Automobile manufacturers prefer EV platforms for producing various vehicles, including EV automobiles, as they support flexible manufacturing of vehicles, such as electric vehicles, by enabling a more spacious interior, larger batteries, and less wasted space.
The global EV platform market is expected to grow from $7.54 billion in 2022 to $9.69 billion in 2023 at a compound annual growth rate (CAGR) of 28.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The EV platform market is expected to reach $24.92 billion in 2027 at a CAGR of 26.6%.
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Major competitors in the ev platform market are Volkswagen Group, Toyota Motor Corporation, Ford Motor Company Limited, General Motors LLC.
A key trend in the EV Platform market includes offering technological advancements. Major companies operating in the EV platform market are adopting new technologies to sustain their position in the market. For instance, in May 2023, London Electric Vehicle Company (LEVC), a UK-based automotive company, launched the Space Oriented Architecture (SOA), a new advanced modular EV platform co-developed with Geely Holding Group, a China-based automobile company. This adaptable Space-Oriented Architecture (SOA) includes pure electric vehicle technology with a sophisticated and scalable SOA platform that improves connectivity, range, efficiency, safety, and charging times.
Read More On The Global EV Platform Market Report Here: https://www.thebusinessresearchcompany.com/report/ev-platform-global-market-report
The EV platform market is segmented -
1) By Platform: P0, P1, P2, P3, P4
2) By Component: Chassis, Battery, Suspension System, Steering System, Drivetrain, Vehicle Interior, Other Components
3) By Electric Vehicle Type: Hybrid Electric Vehicle, Battery Electric Vehicle, Plug-in Hybrid Electric Vehicles
4) By Sales Channel: Original Equipment Manufacturer(OEM), Aftermarket
5) By Application: Passenger Vehicle, Commercial Vehicle
6) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the EV platform market.
The Business Research Company's "Global EV Platform Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The EV Platform Market Include:
1. Executive Summary
2. EV Platform Market Characteristic
3. EV Platform Market Trends And Strategies
4. EV Platform Market - Macro Economic Scenario
5. EV Platform Market Size And Growth
……………
27. EV Platform Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The EV Platform Market
29. EV Platform Market Future Outlook And Potential Analysis
30. Appendix
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