Electric Vehicle Components Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Vehicle Type (Passenger Vehicles and Commercial Vehicles), By Propulsion Type (Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle, Fuel Cell Electric Vehicle, and Hybrid Electric Vehicle), By Component Type (Battery Packs, DC-DC Converter, Controller & Inverter, Motor, On-Board Chargers, and Other Component Types), By Regional, By Competition

  • Industry : Automotive
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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 305 billion

CAGR (2023-2028)

12.5%

Fastest Growing Segment

Battery packs

Largest Market

Asia-Pacific

 

Market Overview

Global Electric Vehicle Components Market has valued at USD 305 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 12.5% through 2028. The Global Electric Vehicle (EV) Components Market holds a significant position within the automotive industry, driven by the transformative shift toward sustainable transportation solutions. This expansive market encompasses a wide array of crucial components that power, enable, and enhance electric vehicles. At the heart of this market lies advanced battery systems, which are pivotal in determining EV range, performance, and accessibility. Innovations in battery technology, including improvements in energy density and charging efficiency, are reshaping the capabilities of electric vehicles, driving increased adoption. The proliferation of electric vehicles necessitates the development of an extensive charging infrastructure, making charging systems and solutions another integral segment of the market. Charging stations, from residential setups to fast-charging networks, are crucial for supporting the widespread use of electric vehicles and encouraging consumer confidence in the technology. As governments and private entities invest in charging networks, the design and manufacturing of these infrastructure components play a crucial role in shaping the EV landscape. The electric motor and drivetrain sector is also a cornerstone of the EV Components Market. Innovations in electric motor design, efficiency, and performance are transforming the driving experience and influencing vehicle dynamics. Electric drivetrains, including power electronics and inverters, control the energy flow from the battery to the motor, affecting acceleration, regenerative braking, and overall energy efficiency. A significant trend emerging in this market is Vehicle-to-Grid (V2G) integration, which leverages EV batteries as energy storage units connected to the power grid. This approach enables bidirectional energy flow, allowing EVs to supply power to the grid during peak demand or draw energy during off-peak periods. V2G integration holds the potential to stabilize the grid, enhance the utilization of renewable energy sources, and create new revenue streams for vehicle owners. In addition to technology-specific components, the EV Components Market is influenced by government policies and incentives aimed at promoting electric mobility. Subsidies, tax incentives, and regulations focused on emissions reductions contribute to market growth by creating a favorable environment for both manufacturers and consumers. As consumer awareness of environmental sustainability grows, there is an increasing demand for electric vehicles and the components that power them. In conclusion, the Global Electric Vehicle Components Market is characterized by rapid growth and innovation, fueled by the global push toward cleaner transportation solutions. Battery systems, charging infrastructure, electric motors, V2G integration, and supportive government policies are key drivers propelling this market forward. As electric vehicles continue to gain prominence, the market's evolution plays a pivotal role in shaping the future of transportation by providing the necessary technologies and infrastructure to usher in a new era of sustainable mobility.

Key Market Drivers

Environmental Awareness and Sustainability

Environmental consciousness is a significant driver of the Global Electric Vehicle Components Market. Growing concerns about climate change and air quality have prompted a global push for cleaner transportation alternatives. Electric vehicles, powered by emission-free electric motors, offer a compelling solution to reduce greenhouse gas emissions and curb urban air pollution. As governments, corporations, and consumers increasingly prioritize sustainability, the demand for EV components rises.

Government Incentives and Regulations

Government policies play a crucial role in shaping the electric vehicle landscape. Many countries are implementing regulations to reduce emissions and promote the adoption of electric vehicles. Incentives such as tax credits, rebates, and exemptions are designed to make EVs more financially attractive to consumers. Mandates requiring automakers to produce a certain percentage of electric vehicles further stimulate the development and adoption of EV components.

Technological Advancements in Battery Technology

Advancements in battery technology are pivotal in driving the growth of the EV Components Market. Lithium-ion batteries, with improved energy density, longer lifespans, and faster charging capabilities, have become a linchpin of electric vehicles. As research and development efforts continue, innovations in battery chemistry and materials promise to extend the range of electric vehicles while reducing charging times, addressing a critical consumer concern.

Declining Battery Costs

The falling cost of batteries has been a transformative factor in the electric vehicle industry. As economies of scale, improved manufacturing processes, and technology advancements lower battery production costs, the overall cost of electric vehicles becomes more competitive with traditional internal combustion engine vehicles. This reduction in battery costs enhances the affordability and accessibility of EVs, driving higher consumer demand.

Energy Independence and Diversification

Electric vehicles contribute to reducing dependence on fossil fuels for transportation, promoting energy security and diversification. As countries seek to reduce their reliance on imported oil and mitigate geopolitical risks, the adoption of electric vehicles becomes a strategic goal. The EV Components Market plays a crucial role in enabling this shift by providing the technology necessary to transition to electric propulsion.

Consumer Preferences and Changing Mobility Trends

Consumer preferences are shifting toward sustainable and technologically advanced transportation options. As consumers become more attuned to the benefits of electric vehicles, their interest and demand for these vehicles and their components increase. Moreover, changing mobility trends, including the rise of ride-sharing services and urbanization, are driving the need for efficient and environmentally friendly transportation solutions.

Improving Charging Infrastructure

The growth of the EV Components Market is intertwined with the expansion of charging infrastructure. The availability of convenient and fast charging stations is essential for alleviating range anxiety and promoting the widespread adoption of electric vehicles. Governments and private companies are investing in charging networks, which in turn drives the demand for charging components and technologies.

Technological Synergies and Innovations

The electric vehicle ecosystem is characterized by cross-sector collaborations and technological synergies. Innovations in electric vehicle components often have applications beyond transportation, contributing to advancements in energy storage, grid stability, and renewable energy integration. This interconnectedness drives continuous innovation and attracts investments from diverse industries.

Urbanization and Congestion Mitigation

As urbanization accelerates, cities face challenges of congestion and pollution. Electric vehicles offer a means to mitigate these challenges by providing a cleaner and more efficient mode of transportation. Governments and municipalities are recognizing the role of electric vehicles in creating sustainable urban environments, driving incentives and investments in EV components.

Corporate Sustainability Goals

Businesses are increasingly aligning their operations with sustainability goals. Corporate fleets adopting electric vehicles not only reduce emissions but also showcase environmental stewardship. Corporate drequirements andc vehicles and associated components is influenced by a desire to demonstrate responsibility, meet regulatory requirements, and contribute to a greener future.

 

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Key Market Challenges

Battery Technology and Range Anxiety

Despite significant advancements, battery technology remains a challenge in the EV Components Market. While batteries are improving in terms of energy density and charging speed, limitations in range and charging infrastructure can lead to "range anxiety" for consumers. Achieving a balance between extended range, fast charging capabilities, and affordability is a persistent challenge that impacts consumer confidence and adoption rates.

Charging Infrastructure Deployment

The expansion of charging infrastructure is critical for the widespread adoption of electric vehicles. However, building a comprehensive and efficient charging network requires substantial investment and coordination among governments, utilities, and private companies. The availability of charging stations, especially in rural areas and along highways, remains a challenge and can hinder the adoption of electric vehicles, particularly for long-distance travel.

Charging Standardization

The lack of standardized charging protocols and connectors is a challenge that affects the EV Components Market. Different regions and manufacturers adopt varying charging standards, leading to compatibility issues for consumers and limiting the interoperability of charging networks. The development of universal charging standards is essential for streamlining the charging process and improving the user experience.

High Initial Costs

While the operational costs of electric vehicles are generally lower compared to internal combustion engine vehicles, the initial purchase price remains higher due to battery costs. The cost of EV components, especially advanced battery systems, can deter price-sensitive consumers from making the switch. Lowering the upfront cost of electric vehicles is a challenge that requires further technological advancements and economies of scale.

Infrastructure Investment

Building the necessary infrastructure for electric vehicles, including charging stations and power distribution networks, requires significant investment. Governments, utilities, and private companies must collaborate to fund and implement these projects. Financing challenges and uncertainties about return on investment can slow down infrastructure development, limiting the convenience and accessibility of electric vehicles.

Limited Battery Recycling and Disposal Solutions

As electric vehicles become more common, the disposal and recycling of used batteries present environmental challenges. Developing efficient and sustainable solutions for battery recycling is essential to prevent the accumulation of electronic waste and to recover valuable materials from spent batteries.

Supply Chain Disruptions and Raw Materials

The EV Components Market relies on a global supply chain for components like batteries, motors, and electronics. Supply chain disruptions, geopolitical factors, and the availability of raw materials (such as lithium and cobalt) can impact production and lead to fluctuations in component prices. Ensuring a stable supply chain and sourcing sustainable materials pose ongoing challenges.

Technological Complexity and Skills Gap

Electric vehicles are more technologically complex than internal combustion engine vehicles, requiring specialized skills for manufacturing, maintenance, and repairs. A shortage of skilled technicians and engineers familiar with EV components can create bottlenecks in production, service, and innovation.

Market Fragmentation and Competition

The electric vehicle market is evolving rapidly, leading to market fragmentation and intense competition among manufacturers. While competition is healthy, it can also lead to pricing pressures and challenges for smaller manufacturers to gain a foothold in the market.

Consumer Education and Adoption Barriers

Education and awareness about electric vehicles are crucial for consumer adoption. Overcoming myths and misconceptions, providing accurate information about costs and benefits, and dispelling concerns about charging infrastructure and range limitations are challenges that require targeted marketing and educational efforts.

Key Market Trends

Advancements in Battery Technology

Battery technology is at the forefront of electric vehicle innovation. The trend toward higher energy density, faster charging, and longer battery life spans is driving the development of more efficient and capable batteries. Solid-state batteries, which promise even higher energy densities and improved safety, are being researched extensively. These advancements are enhancing the driving range of electric vehicles and reducing concerns about range anxiety.

Electrification of Commercial Vehicles

The trend toward electrification is expanding beyond passenger cars to encompass commercial vehicles, including buses, trucks, and delivery vans. Governments and industries are recognizing the potential for reducing emissions in the logistics and transportation sectors. This trend is driving the demand for components that can handle the higher power and energy requirements of larger commercial vehicles.

Connected and Autonomous Electric Vehicles

The convergence of electric vehicles with connected and autonomous technologies is a significant trend. Electric vehicles are increasingly equipped with advanced driver assistance systems (ADAS) and connectivity features that enhance safety, convenience, and user experience. These technologies are laying the foundation for the eventual integration of fully autonomous electric vehicles.

Charging Infrastructure Expansion

The expansion of charging infrastructure is a crucial trend that impacts the entire electric vehicle ecosystem. Governments, utilities, and private companies are investing in charging networks to support the growing number of electric vehicles on the road. This trend is driving innovations in fast-changing technology, wireless charging, and the development of charging stations with higher power outputs.

Sustainability and Circular Economy

As electric vehicles become more prevalent, there is a growing emphasis on sustainability throughout the product lifecycle. Manufacturers are exploring ways to recycle and repurpose components, reduce the environmental impact of manufacturing processes, and source materials responsibly. This trend aligns with consumer preferences for environmentally friendly products and supports a circular economy approach.

Modular and Scalable Platforms

Manufacturers are adopting modular and scalable vehicle platforms that can accommodate various vehicle types and sizes. These flexible platforms enable cost efficiencies by sharing components and technologies across multiple models, making electric vehicles more accessible to a wider range of consumers.

Energy Management and V2G Integration

Energy management systems are becoming more sophisticated, allowing electric vehicles to interact with the power grid more intelligently. Vehicle-to-Grid (V2G) integration enables electric vehicles to supply energy back to the grid during peak demand periods, contributing to grid stability and enabling bidirectional energy flow.

Collaboration and Partnerships

The electric vehicle industry is witnessing increased collaboration among automakers, component suppliers, and technology companies. Partnerships are formed to share expertise, accelerate research and development, and create innovative solutions. These collaborations contribute to faster market adoption and the exchange of best practices.

Consumer Education and Experience

Consumer education remains an essential trend to overcome misinformation and misconceptions about electric vehicles. As more consumers consider switching to electric vehicles, manufacturers and stakeholders are investing in educational campaigns to raise awareness about the benefits, costs, and practicalities of electric mobility.

Range of Vehicle Segments

Electric vehicles are no longer limited to a single vehicle segment. The market offers electric options across various segments, including compact cars, SUVs, luxury vehicles, and performance models. This trend is expanding the reach of electric vehicles to cater to diverse consumer preferences and needs.

Segmental Insights

Propulsion Type Insights

The propulsion type aspect of the global electric vehicle components market is divided into two categories: Battery Electric Vehicle (BEV) and Plug-in Hybrid Electric Vehicle (PHEV). The BEV segment holds a significant share in the market due to its numerous advantages, such as higher fuel economy, lower emissions, and lower operating costs. On the other hand, the PHEV segment is experiencing remarkable growth, primarily driven by its unique dual-mode of operation, which allows motorists to seamlessly switch between electric and conventional engine power. Additionally, the increasing number of charging stations worldwide has further fueled the growth of the PHEV segment, providing convenience and accessibility to electric vehicle owners.  

Component Type Insights

The global electric vehicle components market is categorized based on several component types, including battery packs, electric motor, controller, and power distribution module among others. The battery packs segment holds a significant market share due to its critical role in determining the overall performance and longevity of electric vehicles. Meanwhile, the electric motor segment is also witnessing substantial growth, attributed to the advancements in motor technology, enhancing efficiency and vehicle range. Furthermore, the controller segment is projected to see noticeable growth, driven by the increased focus on improving vehicle control systems for ensuring safety and enhancing user experience.

 

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Regional Insights

The global electric vehicle components market is seeing a diverse growth pattern across different regions. In North America, increased government support and initiatives towards sustainable transportation solutions are driving the market growth. In Asia-Pacific region, particularly in China, South Korea, and Japan, the rise is mainly due to large-scale production capacities and technological advancements. On the other hand, Europe is observing a steady growth due to strong government policies favoring electric vehicles and high consumer awareness about environmental sustainability.

Recent Developments

  • In 2022, Denso Corporation developed electric vehicle components which are supplied to the Toyota bZ4x and Subaru Solterra.
  • In 2022, Panasonic Corporation has bought a plant in US to boost its lithium-ion battery production capacity for Tesla electric vehicles.  

Key Market Players

  • Continental AG
  • Robert Bosch GmbH
  • Denso Corporation
  • Hella GmbH & Co. KGaA
  • Toyota Industries Corporation
  • Hyundai Mobis
  • Samsung SDI Co Ltd
  • Panasonic Corporation
  • Contemporary Amperex Technology Co. Ltd
  • BorgWarner Inc.

 By Vehicle Type

By Propulsion Type

By Component Type

By Region
  • Passenger Vehicles
  • Commercial Vehicles
  • Battery Electric Vehicle
  • Plug-in Hybrid Electric Vehicle
  • Fuel Cell Electric Vehicle
  • Hybrid Electric Vehicle
  • Battery Packs
  • DC-DC Converter
  • Controller & Inverter
  • Motor
  • On-Board Chargers
  • Other Component Types
  • North America
  • Europe & CIS
  • Asia Pacific
  • South America
  • Middle East & Africa


Report Scope:

In this report, the Global Electric Vehicle Components Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Electric Vehicle Components Market, By Vehicle Type:

o   Passenger Vehicles

o   Commercial Vehicles

  • Electric Vehicle Components Market, By Propulsion Type:

o   Battery Electric Vehicle

o   Plug-in Hybrid Electric Vehicle

o   Fuel Cell Electric Vehicle

o   Hybrid Electric Vehicle

  • Electric Vehicle Components Market, By Component Type:

o   Battery Packs

o   DC-DC Converter

o   Controller & Inverter

o   Motor

o   On-Board Chargers

o   Other Component Types

  • Electric Vehicle Components Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe & CIS

§  Germany

§  Spain

§  France

§  Russia

§  Italy

§  United Kingdom

§  Belgium

o   Asia-Pacific

§  China

§  India

§  Japan

§  Indonesia

§  Thailand

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  Turkey

§  Iran

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Electric Vehicle Components Market.

Available Customizations:

Global Electric Vehicle Components Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Electric Vehicle Components Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.     Introduction

1.1.  Market Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Global Electric Vehicle Components Market

5.    Global Electric Vehicle Components Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Volume & Value

5.2.  Market Share & Forecast

5.2.1.     By Vehicle Type Market Share Analysis (Passenger Vehicles and Commercial Vehicles)

5.2.2.     By Propulsion Type Market Share Analysis (Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle, Fuel Cell Electric Vehicle, and Hybrid Electric Vehicle)

5.2.3.     By Component Type Market Share Analysis (Battery Packs, DC-DC Converter, Controller & Inverter, Motor, On-Board Chargers, and Other Component Types)

5.2.4.     By Regional Market Share Analysis

5.2.4.1.         Asia-Pacific Market Share Analysis

5.2.4.2.         Europe & CIS Market Share Analysis

5.2.4.3.         North America Market Share Analysis

5.2.4.4.         South America Market Share Analysis

5.2.4.5.         Middle East & Africa Market Share Analysis

5.2.5.     By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)

5.3.  Global Electric Vehicle Components Market Mapping & Opportunity Assessment

5.3.1.     By Vehicle Type Market Mapping & Opportunity Assessment

5.3.2.     By Propulsion Type Market Mapping & Opportunity Assessment

5.3.3.     By Component Type Market Mapping & Opportunity Assessment

5.3.4.     By Regional Market Mapping & Opportunity Assessment

6.    Asia-Pacific Electric Vehicle Components Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Volume & Value

6.2.  Market Share & Forecast

6.2.1.     By Vehicle Type Market Share Analysis

6.2.2.     By Propulsion Type Market Share Analysis

6.2.3.     By Component Type Market Share Analysis

6.2.4.     By Country Market Share Analysis

6.2.4.1.         China Market Share Analysis

6.2.4.2.         India Market Share Analysis

6.2.4.3.         Japan Market Share Analysis

6.2.4.4.         Indonesia Market Share Analysis

6.2.4.5.         Thailand Market Share Analysis

6.2.4.6.         South Korea Market Share Analysis

6.2.4.7.         Australia Market Share Analysis

6.2.4.8.         Rest of Asia-Pacific Market Share Analysis

6.3.  Asia-Pacific: Country Analysis

6.3.1.     China Electric Vehicle Components Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Volume & Value

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Vehicle Type Market Share Analysis

6.3.1.2.2.             By Propulsion Type Market Share Analysis

6.3.1.2.3.             By Component Type Market Share Analysis

6.3.2.     India Electric Vehicle Components Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Volume & Value

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Vehicle Type Market Share Analysis

6.3.2.2.2.             By Propulsion Type Market Share Analysis

6.3.2.2.3.             By Component Type Market Share Analysis

6.3.3.     Japan Electric Vehicle Components Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Volume & Value

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Vehicle Type Market Share Analysis

6.3.3.2.2.             By Propulsion Type Market Share Analysis

6.3.3.2.3.             By Component Type Market Share Analysis

6.3.4.     Indonesia Electric Vehicle Components Market Outlook

6.3.4.1.         Market Size & Forecast

6.3.4.1.1.             By Volume & Value

6.3.4.2.         Market Share & Forecast

6.3.4.2.1.             By Vehicle Type Market Share Analysis

6.3.4.2.2.             By Propulsion Type Market Share Analysis

6.3.4.2.3.             By Component Type Market Share Analysis

6.3.5.     Thailand Electric Vehicle Components Market Outlook

6.3.5.1.         Market Size & Forecast

6.3.5.1.1.             By Volume & Value

6.3.5.2.         Market Share & Forecast

6.3.5.2.1.             By Vehicle Type Market Share Analysis

6.3.5.2.2.             By Propulsion Type Market Share Analysis

6.3.5.2.3.             By Component Type Market Share Analysis

6.3.6.     South Korea Electric Vehicle Components Market Outlook

6.3.6.1.         Market Size & Forecast

6.3.6.1.1.             By Volume & Value

6.3.6.2.         Market Share & Forecast

6.3.6.2.1.             By Vehicle Type Market Share Analysis

6.3.6.2.2.             By Propulsion Type Market Share Analysis

6.3.6.2.3.             By Component Type Market Share Analysis

6.3.7.     Australia Electric Vehicle Components Market Outlook

6.3.7.1.         Market Size & Forecast

6.3.7.1.1.             By Volume & Value

6.3.7.2.         Market Share & Forecast

6.3.7.2.1.             By Vehicle Type Market Share Analysis

6.3.7.2.2.             By Propulsion Type Market Share Analysis

6.3.7.2.3.             By Component Type Market Share Analysis

7.    Europe & CIS Electric Vehicle Components Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Volume & Value

7.2.  Market Share & Forecast

7.2.1.     By Vehicle Type Market Share Analysis

7.2.2.     By Propulsion Type Market Share Analysis

7.2.3.     By Component Type Market Share Analysis

7.2.4.     By Country Market Share Analysis

7.2.4.1.         Germany Market Share Analysis

7.2.4.2.         Spain Market Share Analysis

7.2.4.3.         France Market Share Analysis

7.2.4.4.         Russia Market Share Analysis

7.2.4.5.         Italy Market Share Analysis

7.2.4.6.         United Kingdom Market Share Analysis

7.2.4.7.         Belgium Market Share Analysis

7.2.4.8.         Rest of Europe & CIS Market Share Analysis

7.3.  Europe & CIS: Country Analysis

7.3.1.     Germany Electric Vehicle Components Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Volume & Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Vehicle Type Market Share Analysis

7.3.1.2.2.             By Propulsion Type Market Share Analysis

7.3.1.2.3.             By Component Type Market Share Analysis

7.3.2.     Spain Electric Vehicle Components Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Volume & Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Vehicle Type Market Share Analysis

7.3.2.2.2.             By Propulsion Type Market Share Analysis

7.3.2.2.3.             By Component Type Market Share Analysis

7.3.3.     France Electric Vehicle Components Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Volume & Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Vehicle Type Market Share Analysis

7.3.3.2.2.             By Propulsion Type Market Share Analysis

7.3.3.2.3.             By Component Type Market Share Analysis

7.3.4.     Russia Electric Vehicle Components Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Volume & Value

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Vehicle Type Market Share Analysis

7.3.4.2.2.             By Propulsion Type Market Share Analysis

7.3.4.2.3.             By Component Type Market Share Analysis

7.3.5.     Italy Electric Vehicle Components Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Volume & Value

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Vehicle Type Market Share Analysis

7.3.5.2.2.             By Propulsion Type Market Share Analysis

7.3.5.2.3.             By Component Type Market Share Analysis

7.3.6.     United Kingdom Electric Vehicle Components Market Outlook

7.3.6.1.         Market Size & Forecast

7.3.6.1.1.             By Volume & Value

7.3.6.2.         Market Share & Forecast

7.3.6.2.1.             By Vehicle Type Market Share Analysis

7.3.6.2.2.             By Propulsion Type Market Share Analysis

7.3.6.2.3.             By Component Type Market Share Analysis

7.3.7.     Belgium Electric Vehicle Components Market Outlook

7.3.7.1.         Market Size & Forecast

7.3.7.1.1.             By Volume & Value

7.3.7.2.         Market Share & Forecast

7.3.7.2.1.             By Vehicle Type Market Share Analysis

7.3.7.2.2.             By Propulsion Type Market Share Analysis

7.3.7.2.3.             By Component Type Market Share Analysis

8.    North America Electric Vehicle Components Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Volume & Value

8.2.  Market Share & Forecast

8.2.1.     By Vehicle Type Market Share Analysis

8.2.2.     By Propulsion Type Market Share Analysis

8.2.3.     By Component Type Market Share Analysis

8.2.4.     By Country Market Share Analysis

8.2.4.1.         United States Market Share Analysis

8.2.4.2.         Mexico Market Share Analysis

8.2.4.3.         Canada Market Share Analysis

8.3.  North America: Country Analysis

8.3.1.     United States Electric Vehicle Components Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Volume & Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Vehicle Type Market Share Analysis

8.3.1.2.2.             By Propulsion Type Market Share Analysis

8.3.1.2.3.             By Component Type Market Share Analysis

8.3.2.     Mexico Electric Vehicle Components Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Volume & Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Vehicle Type Market Share Analysis

8.3.2.2.2.             By Propulsion Type Market Share Analysis

8.3.2.2.3.             By Component Type Market Share Analysis

8.3.3.     Canada Electric Vehicle Components Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Volume & Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Vehicle Type Market Share Analysis

8.3.3.2.2.             By Propulsion Type Market Share Analysis

8.3.3.2.3.             By Component Type Market Share Analysis

9.    South America Electric Vehicle Components Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Volume & Value

9.2.  Market Share & Forecast

9.2.1.     By Vehicle Type Market Share Analysis

9.2.2.     By Propulsion Type Market Share Analysis

9.2.3.     By Component Type Market Share Analysis

9.2.4.     By Country Market Share Analysis

9.2.4.1.         Brazil Market Share Analysis

9.2.4.2.         Argentina Market Share Analysis

9.2.4.3.         Colombia Market Share Analysis

9.2.4.4.         Rest of South America Market Share Analysis

9.3.  South America: Country Analysis

9.3.1.     Brazil Electric Vehicle Components Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Volume & Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Vehicle Type Market Share Analysis

9.3.1.2.2.             By Propulsion Type Market Share Analysis

9.3.1.2.3.             By Component Type Market Share Analysis

9.3.2.     Colombia Electric Vehicle Components Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Volume & Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Vehicle Type Market Share Analysis

9.3.2.2.2.             By Propulsion Type Market Share Analysis

9.3.2.2.3.             By Component Type Market Share Analysis

9.3.3.     Argentina Electric Vehicle Components Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Volume & Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Vehicle Type Market Share Analysis

9.3.3.2.2.             By Propulsion Type Market Share Analysis

9.3.3.2.3.             By Component Type Market Share Analysis

10.  Middle East & Africa Electric Vehicle Components Market Outlook

10.1.            Market Size & Forecast

10.1.1.  By Volume & Value

10.2.            Market Share & Forecast

10.2.1.  By Vehicle Type Market Share Analysis

10.2.2.  By Propulsion Type Market Share Analysis

10.2.3.  By Component Type Market Share Analysis

10.2.4.  By Country Market Share Analysis

10.2.4.1.      Turkey Market Share Analysis

10.2.4.2.      Iran Market Share Analysis

10.2.4.3.      Saudi Arabia Market Share Analysis

10.2.4.4.      UAE Market Share Analysis

10.2.4.5.      Rest of Middle East & Africa Market Share Africa

10.3.            Middle East & Africa: Country Analysis

10.3.1.  Turkey Electric Vehicle Components Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Volume & Value

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Vehicle Type Market Share Analysis

10.3.1.2.2.           By Propulsion Type Market Share Analysis

10.3.1.2.3.           By Component Type Market Share Analysis

10.3.2.  Iran Electric Vehicle Components Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Volume & Value

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Vehicle Type Market Share Analysis

10.3.2.2.2.           By Propulsion Type Market Share Analysis

10.3.2.2.3.           By Component Type Market Share Analysis

10.3.3.  Saudi Arabia Electric Vehicle Components Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Volume & Value

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Vehicle Type Market Share Analysis

10.3.3.2.2.           By Propulsion Type Market Share Analysis

10.3.3.2.3.           By Component Type Market Share Analysis

10.3.4.  UAE Electric Vehicle Components Market Outlook

10.3.4.1.      Market Size & Forecast

10.3.4.1.1.           By Volume & Value

10.3.4.2.      Market Share & Forecast

10.3.4.2.1.           By Vehicle Type Market Share Analysis

10.3.4.2.2.           By Propulsion Type Market Share Analysis

10.3.4.2.3.           By Component Type Market Share Analysis

11.  SWOT Analysis

11.1.            Strength

11.2.            Weakness

11.3.            Opportunities

11.4.            Threats

12.  Market Dynamics

12.1.            Market Drivers

12.2.            Market Challenges

13.  Market Trends and Developments

14.  Competitive Landscape

14.1.            Company Profiles (Up to 10 Major Companies)

14.1.1.  Continental AG

14.1.1.1.      Company Details

14.1.1.2.      Key Product Offered

14.1.1.3.      Financials (As Per Availability)

14.1.1.4.      Recent Developments

14.1.1.5.      Key Management Personnel

14.1.2.  Robert Bosch GmbH

14.1.2.1.      Company Details

14.1.2.2.      Key Product Offered

14.1.2.3.      Financials (As Per Availability)

14.1.2.4.      Recent Developments

14.1.2.5.      Key Management Personnel

14.1.3.  Denso Corporation

14.1.3.1.      Company Details

14.1.3.2.      Key Product Offered

14.1.3.3.      Financials (As Per Availability)

14.1.3.4.      Recent Developments

14.1.3.5.      Key Management Personnel

14.1.4.   Hella GmbH & Co. KGaA

14.1.4.1.      Company Details

14.1.4.2.      Key Product Offered

14.1.4.3.      Financials (As Per Availability)

14.1.4.4.      Recent Developments

14.1.4.5.      Key Management Personnel

14.1.5.  Toyota Industries Corporation

14.1.5.1.      Company Details

14.1.5.2.      Key Product Offered

14.1.5.3.      Financials (As Per Availability)

14.1.5.4.      Recent Developments

14.1.5.5.      Key Management Personnel

14.1.6.  Hyundai Mobis

14.1.6.1.      Company Details

14.1.6.2.      Key Product Offered

14.1.6.3.      Financials (As Per Availability)

14.1.6.4.      Recent Developments

14.1.6.5.      Key Management Personnel

14.1.7.  Samsung SDI Co Ltd

14.1.7.1.      Company Details

14.1.7.2.      Key Product Offered

14.1.7.3.      Financials (As Per Availability)

14.1.7.4.      Recent Developments

14.1.7.5.      Key Management Personnel

14.1.8.  Panasonic Corporation

14.1.8.1.      Company Details

14.1.8.2.      Key Product Offered

14.1.8.3.      Financials (As Per Availability)

14.1.8.4.      Recent Developments

14.1.8.5.      Key Management Personnel

14.1.9.  Contemporary Amperex Technology Co. Ltd

14.1.9.1.      Company Details

14.1.9.2.      Key Product Offered

14.1.9.3.      Financials (As Per Availability)

14.1.9.4.      Recent Developments

14.1.9.5.      Key Management Personnel

14.1.10.                BorgWarner Inc.  

14.1.10.1.    Company Details

14.1.10.2.    Key Product Offered

14.1.10.3.    Financials (As Per Availability)

14.1.10.4.    Recent Developments

14.1.10.5.    Key Management Personnel

15.  Strategic Recommendations

15.1.            Key Focus Areas

15.1.1.  Target Regions

15.1.2.  Target By Vehicle Type

15.1.3.  Target Propulsion Type

15.1.4.  Target Component Type

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Electric Vehicle Components Market was estimated to be USD 305 billion in 2022.

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The Battery segment dominated the Global Electric Vehicle Components Market in 2022. With the surge in demand for electric vehicles, the need for high-capacity and efficient batteries escalated, making this segment the leader in the market.

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The Asia-Pacific region is currently dominating the Global Electric Vehicle Components Market. This dominance is largely attributed to the aggressive EV policies of countries like China, Japan, and South Korea, which have spurred tremendous growth in the production of electric vehicles and their components.

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The Global Electric Vehicle Components Market is primarily driven by increasing environmental awareness, government incentives promoting electric mobility, and technological advancements in battery technology and charging infrastructure.

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Srishti Verma

Business Consultant
Press Release

Global Electric Vehicle Components Market to Grow with a CAGR of 12.5% through 2028

Sep, 2023

The Global Electric Vehicle Components Market is primarily driven by increasing environmental awareness, government incentives promoting electric mobility, and technological advancements in battery t

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