United States Electric Vehicle Components Market 2025 | Industry Developments, Future Growth, Share & Industry Insights | Hitachi Astemo, Tesla Inc, BorgWarner Inc, Valeo

The Electric Vehicle Components Market reached US$ 119.29 billion in 2024 and is projected to reach US$ 442.35 billion by 2032, growing at a CAGR of 17.8% during the forecast period 2025-2032.

DataM Intelligence has published a new research report on "Electric Vehicle Components Market Size 2025". The report explores comprehensive and insightful Information about various key factors like Regional Growth, Segmentation, CAGR, Business Revenue Status of Top Key Players and Drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

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Key Players: Volkswagen Group, Suzuki Motor Corporation, Robert Bosch GmbH, Mitsubishi Electric Corporation, Denso Corporation, Toyota Boshoku Corporation, Hitachi Astemo, Tesla Inc, BorgWarner Inc and Valeo.

United States - Industry Developments:

✅ Stellantis to Produce Hybrid Transmissions in Italy
Stellantis announced plans to manufacture dual-clutch transmissions for hybrid vehicles at its Termoli plant in Southern Italy. This move aims to support the company's transition towards electrified powertrains.

Japan - Industry Developments:

✅ Mitsubishi and Foxconn to Develop EV for Australia and New Zealand
Mitsubishi Motors has partnered with Foxtron, a subsidiary of Taiwan's Foxconn, to develop and produce a new electric vehicle targeting the Australian and New Zealand markets, with production set to begin in Taiwan by the second half of 2026.

✅ Hino Motors and Mitsubishi Fuso to Merge Production Operations
Hino Motors and Mitsubishi Fuso have announced plans to merge their production operations in Japan, aiming to enhance efficiency and competitiveness in the electric vehicle sector.

South Korea - Industry Developments:

✅ Hyundai Mobis Targets Global Top 3 with Electrification
Hyundai Mobis unveiled its vision for innovative technologies at the IAA Mobility 2025 in Munich, aiming to become a global top 3 automotive supplier through electrification and integration.

✅ South Korea and India Forge Strategic Alliance in EV Components
South Korea and India have announced a strategic alliance focusing on electronics, EV components, and digital supply chains, opening new avenues for collaboration in the electric vehicle sector.

Europe - Industry Developments:

✅ European BEV Market Surges 34% in First Half of 2025
The European battery electric vehicle (BEV) market experienced a 34% increase in the first half of 2025, with Volkswagen leading the surge and Germany being the largest market.

✅ Renault's Ampere Unit Confirms Cost Reduction Targets
Renault's electric vehicle and software subsidiary, Ampere, reaffirmed its commitment to cutting EV costs by 40% by 2028 and achieving financial break-even within the year.

Growth Forecast Projected:

The Global Electric Vehicle Components Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Electric Vehicle Components Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

By Component - Battery Packs, Battery Management Systems (BMS), Electric Motors, Power Electronics, On-Board Chargers, Charging Ports & Connectors, Thermal Management Systems, Transmission / E-Axles, Others

By Vehicle Type - Passenger cars, Commercial Vehicles, Two-Wheelers & E-Scooters

By Propulsion - Battery Electric Vehicle, Hybrid Electric Vehicle, Fuel Cell Electric Vehicle, Plug-in Vehicle

By Sales Channel - OEM, Aftermarket

Regional Analysis for Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Electric Vehicle Components producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Electric Vehicle Components revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ's

Q1: What is the current size of the Electric Vehicle Components Market?

A: The Electric Vehicle Components Market stood at US$ 119.29 billion in 2024 and is set to experience remarkable growth, reaching US$ 442.35 billion by 2032

Q2: How fast is the Electric Vehicle Components Market growing?

A: The Market is on an impressive growth trajectory, expected to expand at a CAGR of 17.8% from 2025 to 2032

Q3: Which regions are dominating the Electric Vehicle Components Market and which are fastest-growing?

A: North America drives the Electric Vehicle Components Market through strong government support, technological innovation, and rising consumer adoption of EVs.

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