EV Platform Market Size, Share, Growth, Demand by 2030

EV Platform Market

The EV platform market is expected to witness substantial growth, with an estimated increase from USD 9.0 billion in 2022 to USD 68.0 billion by 2030, at a CAGR of 28.7% during the forecast period.

The market report provides an in-depth analysis of the EV platform market, including market data tables, figures, and a detailed table of contents. It covers various aspects such as EV types (BEV, PHEV), electric passenger cars (hatchback, sedan, utility vehicles), electric commercial vehicles (bus, truck, van/pick-up truck), components (suspension, steering, motor, brake, chassis, ECU, battery), and regional analysis.

Several factors contribute to the growth opportunities in the EV platform industry, including the preference for high-voltage and long-distance range EVs, the high demand for solid-state batteries in EVs, the growing demand for end-to-end software-defined vehicles, and the development of lightweight EVs.

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The utility vehicles (SUVs/MPVs) segment holds the largest market share in the global EV platform market. SUVs have gained popularity as family vehicles due to their spacious interiors, safety features, and versatility. This has led to greater adoption and sales of utility vehicles, prompting EV platform manufacturers to focus on developing SUV-based platforms. The electric utility segment, including SUVs/MPVs, is the most attractive for EV platform manufacturers.

The steering system is expected to experience significant growth during the forecast period. Electric steering systems offer improved energy efficiency and reduced maintenance requirements compared to hydraulic steering systems. They contribute to extended range and improved safety in EVs. Advancements in steering systems aim to enhance the driving experience, providing better feedback and responsiveness to drivers. Steer-by-wire technology is being adopted to reduce mechanical linkages and vehicle weight.

The Asia-Pacific region is projected to be the largest EV platform market during the forecast period, led by countries such as China, Japan, and South Korea. These countries have implemented supportive policies and subsidies to promote EV adoption, leading to a growing demand for EVs and making the region highly attractive for EV platform manufacturers.

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Key players in the EV platform market include Volkswagen Group, BYD Company Ltd., Hyundai Motor Group, Renault, and Ford, among others. These companies play a significant role in driving innovation and development in the EV platform industry.

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