Electric Passenger Car Components Market – Global Industry Size, Share, Trends Opportunity, and Forecast, Segmented By Vehicle Type (SUV, Sedan, Hatchback, MUV), 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 Region and By Competition, 2018-2028

  • Industry : Automotive
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  • Published Date : NA
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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 152.83 billion

CAGR (2023-2028)

8.32%

Fastest Growing Segment

Hybrid Electric Vehicle

Largest Market

Europe





Market Overview

The Global Electric Passenger Car Components Market size reached USD 152.83 billion in 2022 and is expected to grow with a CAGR of 8.32% in the forecast period. The global electric passenger car components market has been experiencing significant growth and transformation in recent years as the automotive industry undergoes a rapid shift towards electrification. This transformation is driven by various factors, including environmental concerns, government regulations promoting cleaner transportation, and advancements in electric vehicle (EV) technology. One of the key components contributing to the growth of this market is the electric power train. Electric powertrains consist of components such as batteries, electric motors, and power electronics. The development of high-capacity lithium-ion batteries has been a game-changer, enabling EVs to achieve longer ranges and improved performance. Additionally, advancements in electric motor technology have led to higher efficiency and power output, making EVs more attractive to consumers. Charging infrastructure is another crucial aspect of the electric passenger car components market. As the adoption of EVs continues to rise, the demand for efficient and accessible charging solutions has surged. Governments and private companies have been investing in building charging networks to support the growing EV fleet. Fast-charging stations and wireless charging technologies are gaining traction, addressing concerns about charging times and convenience. Moreover, the development of advanced driver-assistance systems (ADAS) and autonomous driving features has created opportunities in the electric car component market. Sensors, cameras, radar systems, and computer processors are essential components that enable EVs to offer enhanced safety and semi-autonomous driving capabilities. These technologies are not only improving road safety but also contributing to the overall driving experience. Battery management systems (BMS) and thermal management systems are integral parts of electric vehicles. BMS ensures the health and safety of lithium-ion batteries, optimizing their performance and extending their lifespan. Meanwhile, thermal management systems regulate the temperature of the battery pack to prevent overheating, which is crucial for the safety and longevity of the battery. In addition to the technical components, the electric passenger car components market also encompasses interior and exterior design elements specific to electric vehicles. Lightweight materials, aerodynamic designs, and innovative interior layouts are being adopted to improve the overall efficiency and appeal of EVs. It's important to note that the electric passenger car components market is highly dynamic and competitive, with both traditional automakers and new entrants investing heavily in research and development. As consumer preferences shift towards electric vehicles and governments continue to encourage their adoption through incentives and regulations, the market for electric car components is poised for further growth and innovation in the coming years.

Key Market Drivers

Environmental Regulations

Governments worldwide are imposing strict emissions standards and regulations to combat air pollution and reduce the automotive industry's carbon footprint. These regulations push automakers to invest in electric vehicle technology to meet emission targets and avoid fines. Countries like China, the European Union, and the United States have introduced stringent emissions standards, incentivizing automakers to accelerate their electric vehicle production and innovation efforts.

Advancements in Battery Technology

Battery technology is at the heart of electric passenger cars. Continuous research and development have led to improvements in lithium-ion batteries, resulting in higher energy density, faster charging times, and longer lifespan. These advancements not only enhance the driving range but also reduce the overall cost of electric vehicles, making them more appealing to consumers.

Cost Reduction

As economies of scale are achieved in battery manufacturing and electric powertrain components, the cost of producing electric vehicles has decreased. This cost reduction has a direct impact on the sticker price of electric passenger cars, making them more competitive with traditional internal combustion engine vehicles. Additionally, governments often provide incentives and subsidies to further reduce the upfront cost for consumers, stimulating demand.

Charging Infrastructure

The availability and accessibility of charging infrastructure are pivotal for the adoption of electric passenger cars. Governments and private companies are investing in building charging networks, including fast-charging stations, public charging points, and home-charging solutions. The expansion of this infrastructure addresses consumers' concerns about charging convenience and contributes to the growth of the electric vehicle market.

Consumer Awareness and Acceptance

Growing environmental awareness and concerns about climate change are driving consumer interest in electric passenger cars. As consumers become more informed about the benefits of electric vehicles, such as lower operating costs and reduced carbon emissions, the demand for EVs continues to rise. Positive word-of-mouth and high-profile endorsements from celebrities and influencers further boost consumer acceptance.

Technological Advancements

Electric passenger cars are equipped with advanced technology, including autonomous driving features, connectivity, and enhanced safety systems. These innovations not only attract tech-savvy consumers but also align electric vehicles with the broader trend of smart and connected mobility. As these technologies become more refined and accessible, they enhance the overall value proposition of electric cars.

Government Incentives

Various governments around the world offer financial incentives to promote electric vehicle adoption. These incentives may include tax credits, rebates, reduced registration fees, and access to high-occupancy vehicle (HOV) lanes. Such incentives encourage consumers to choose electric passenger cars, making them more financially appealing compared to traditional gasoline-powered vehicles.

Corporate Fleets and Sustainability Goals

Many corporations are adopting electric passenger cars as part of their sustainability initiatives and corporate social responsibility (CSR) goals. This shift is not only driven by environmental concerns but also cost savings. Electric vehicles often have lower operating and maintenance costs, making them an attractive choice for corporate fleets.

In summary, the global electric passenger car components market is being driven by a convergence of factors, including regulatory pressures, technological advancements, cost reductions, improved charging infrastructure, consumer awareness, government incentives, and corporate sustainability efforts. These drivers are accelerating the transition towards electrified transportation and shaping the future of the automotive industry.

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Key Market Challenges

Battery Costs

While battery costs have been decreasing, they still represent a significant portion of an electric car's price. Developing affordable, high-capacity batteries remains a challenge. Innovations in battery chemistry, materials, and production processes are necessary to further reduce costs and enhance the competitiveness of electric passenger cars.

Charging Infrastructure

The expansion of charging infrastructure is crucial for the widespread adoption of electric vehicles. The slow pace of infrastructure development in certain regions, particularly in rural areas, presents a significant challenge. Ensuring a robust and accessible charging network is essential to address "range anxiety" and promote EV adoption.

Range Anxiety

Concerns about the driving range of electric cars continue to be a barrier for potential buyers. While battery technology is improving, achieving longer ranges on a single charge remains a challenge. Overcoming range anxiety requires not only advancements in battery technology but also increased charging infrastructure and consumer education.

Supply Chain Constraints

The global electric passenger car components market heavily relies on a complex and interconnected supply chain. Disruptions, such as those caused by the COVID-19 pandemic, have highlighted the vulnerability of this supply chain. Securing a stable supply of critical components like semiconductors, rare-earth metals, and lithium-ion batteries remains a challenge for automakers.

Weight and Space Constraints

Electric vehicle components, especially batteries, are heavy and take up valuable space. Balancing the need for larger batteries with the need for passenger space and vehicle weight reduction is a persistent challenge. Innovative designs and materials are essential to optimize vehicle performance and interior space.

Charging Speed

Although advancements in fast-changing technology have been made, charging an electric car is still significantly slower than refueling a gasoline vehicle. Achieving faster charging times without compromising battery longevity is a technical challenge that needs to be addressed to enhance the convenience of EV ownership.

Consumer Perception and Education

Many consumers still have misconceptions about electric cars, such as concerns about battery life, maintenance costs, and the availability of charging infrastructure. Education campaigns and accurate information dissemination are essential to dispel myths and misconceptions and build trust in electric vehicles.

Recycling and Sustainability

Electric vehicle batteries have a finite lifespan, and recycling or disposing of them in an environmentally friendly manner is a challenge. Ensuring the sustainability of electric passenger car components, from production to end-of-life recycling, is essential for minimizing their environmental impact.

In summary, while the electric passenger car components market is experiencing rapid growth and innovation, it is not without its challenges. Overcoming these obstacles will require collaborative efforts from governments, automakers, and technology providers to further advance electric vehicle technology and infrastructure, address consumer concerns, and ensure the long-term sustainability of electric mobility.

Key Market Trends

Advancements in Battery Technology

Lithium-ion batteries continue to dominate the electric vehicle (EV) market, but research into solid-state batteries, which promise higher energy density and improved safety, is gaining momentum. These advancements in battery technology are expected to lead to longer driving ranges, faster charging times, and increased overall performance of electric passenger cars.

Electric Vehicle Charging Innovation

The electric vehicle charging ecosystem is experiencing significant innovation. Fast-charging infrastructure is expanding, with the development of ultra-fast chargers capable of delivering high power levels to EVs. Additionally, wireless charging technology is gaining traction, making it more convenient for EV owners to charge their vehicles.

Autonomous and Connected Vehicles

Electric passenger cars are increasingly equipped with advanced driver-assistance systems (ADAS) and connectivity features. These systems enhance safety, enable semi-autonomous driving capabilities, and provide a seamless user experience. As autonomous technology matures, it is likely to become a standard feature in many electric cars.

Lightweight Materials and Design

Automakers are incorporating lightweight materials like carbon fiber and aluminum into electric car designs to improve efficiency and extend driving range. Aerodynamic designs are also becoming more prevalent, further enhancing the energy efficiency of electric vehicles.

Energy Efficiency and Range Optimization

Improving the energy efficiency of electric passenger cars is a key trend. This includes optimizing regenerative braking systems, enhancing thermal management for batteries, and developing more efficient electric motors. These efforts aim to increase the range of electric vehicles while using less energy.

Diverse Electric Vehicle Offerings

The electric vehicle market is diversifying, with automakers introducing electric SUVs, crossovers, and even electric trucks. This trend caters to a broader range of consumer preferences and extends the appeal of electric passenger cars to different market segments.

Sustainable Manufacturing

As environmental concerns grow, automakers are focusing on sustainable manufacturing practices. This includes using recycled materials, reducing waste, and minimizing the carbon footprint of production processes. Sustainable manufacturing is becoming a competitive advantage for companies in the electric car component market.

Consumer Adoption and Charging Convenience

Increasing consumer adoption of electric vehicles is a significant trend. Governments and automakers are incentivizing EV purchases through rebates, tax credits, and other incentives. Additionally, improving charging infrastructure and developing smart charging solutions enhance the convenience of owning an electric passenger car, further encouraging adoption.

In conclusion, the global electric passenger car components market is characterized by rapid technological advancements, expanding charging infrastructure, increased vehicle autonomy and connectivity, and a growing variety of electric vehicle models. These trends collectively indicate a bright future for electric mobility, with electric passenger cars poised to become more accessible, efficient, and integrated into the automotive landscape.

Segmental Insights

By Vehicle Type

Battery Electric Vehicles are fully electric vehicles that rely solely on electric power for propulsion. They do not have an internal combustion engine. BEVs are gaining popularity due to their zero-emission nature and longer electric-only driving ranges. Components crucial for BEVs include high-capacity lithium-ion batteries, electric motors, power electronics, and charging infrastructure. Advancements in battery technology are especially significant in this segment, as they directly impact driving range and overall performance.

Plug-in Hybrid Electric Vehicles combine an internal combustion engine with an electric motor and a battery pack. They offer both electric-only driving modes and the flexibility of a gasoline engine for longer trips. Components in PHEVs include smaller batteries than those in BEVs, electric motors, and sophisticated control systems that manage power distribution between the engine and the electric motor. This segment benefits from developments in battery technology and charging infrastructure, as PHEVs can operate in all-electric mode.

Hybrid Electric Vehicles use an internal combustion engine and an electric motor, but they cannot be charged externally. Instead, they rely on regenerative braking to recharge the small battery. HEVs are known for their fuel efficiency and reduced emissions. Components for HEVs include electric motors, batteries, and advanced control systems that optimize the use of both power sources. HEVs are witnessing technological advancements in electric motor efficiency and energy management systems.

SUVs and crossovers are a popular choice among consumers, and automakers are electrifying this segment to meet the demand for electric SUVs. Electric SUVs often feature larger battery packs to provide sufficient power and driving range for larger vehicles. Components specific to this segment include scalable electric powertrains, lightweight materials, and aerodynamic design features to balance performance, range, and utility.

Electric sedans are characterized by their sleek and aerodynamic designs, making them highly energy-efficient. Components for electric sedans include high-capacity batteries, efficient electric motors, and advanced safety and connectivity systems. Innovations in battery technology and regenerative braking systems are particularly relevant in this segment to maximize driving range and energy efficiency.

Electric trucks and vans are gaining prominence in the commercial and delivery sectors due to their lower operating costs and reduced emissions. Components for this segment include robust battery packs, powerful electric motors for heavy payloads, and advanced telematics for fleet management. The development of fast-charging solutions and innovative battery management systems is critical in supporting the electrification of these larger vehicles.

Each vehicle type segment within the electric passenger car components market has its own unique set of challenges and opportunities, and component manufacturers are adapting their products and technologies to meet the specific requirements of each segment. As consumer preferences evolve, these segments will continue to witness advancements in technology and design, driving the growth of the electric vehicle market.

By Propulsion Type

Battery Electric Vehicles, or BEVs, are entirely reliant on electricity as their sole source of propulsion. These vehicles use large-capacity lithium-ion batteries to store and deliver electricity to electric motors that drive the wheels. The key components in BEVs include high-energy-density batteries, electric motors, power electronics, and charging infrastructure. BEVs have gained popularity due to their zero-emission nature and the potential for extended electric-only driving ranges. Advancements in battery technology are of utmost importance in this segment, as they directly impact driving range, charging speed, and overall vehicle performance. Additionally, the development of fast-charging infrastructure is essential to enhance the convenience and practicality of BEVs.

Hybrid Electric Vehicles, or HEVs, combine an internal combustion engine with an electric motor to improve fuel efficiency and reduce emissions. Unlike plug-in hybrids, HEVs cannot be charged externally; instead, they use regenerative braking to recharge their smaller battery packs. Key components in HEVs include electric motors, batteries, and sophisticated control systems that manage power distribution between the engine and electric motor. Advances in electric motor efficiency and energy management systems are crucial for optimizing fuel economy and reducing environmental impact in this segment. HEVs have been popularized by their fuel efficiency benefits and are often chosen for their ability to switch seamlessly between electric and gasoline power.

Plug-in Hybrid Electric Vehicles, or PHEVs, combine an internal combustion engine with an electric motor and a larger battery pack that can be charged externally. This allows PHEVs to operate in all-electric mode for a certain distance before switching to the internal combustion engine. Key components in PHEVs include larger batteries than those in HEVs, electric motors, and complex control systems that manage the interplay between electric and gasoline propulsion. PHEVs benefit from advancements in battery technology, which influence their electric-only driving range and overall efficiency. Additionally, they rely on the expansion of charging infrastructure to make electric-only driving more accessible and convenient.

Fuel Cell Electric Vehicles, or FCEVs, use hydrogen gas to generate electricity through a chemical reaction in a fuel cell stack. This electricity is then used to power electric motors that drive the vehicle. The key components in FCEVs include fuel cell stacks, hydrogen storage tanks, electric motors, and control systems. The primary challenge in this segment is the establishment of a hydrogen fueling infrastructure, as FCEVs require access to hydrogen refueling stations. Advancements in fuel cell technology, hydrogen storage, and infrastructure development are essential for the growth of FCEVs. FCEVs are lauded for their longer driving ranges and quick refueling times, making them suitable for certain applications.

Each propulsion type segment within the electric passenger car components market presents unique opportunities and challenges for component manufacturers and automakers. Technological advancements and infrastructure development will continue to play pivotal roles in shaping the growth and adoption of electric passenger cars across these different propulsion types.

By Component Type

Batteries are the heart of electric passenger cars, providing the energy needed for propulsion. These high-capacity lithium-ion batteries are critical components and come in various configurations and chemistries. Advancements in battery technology, such as increased energy density and faster charging capabilities, are driving the market forward. Battery management systems (BMS) and thermal management systems are also essential components that ensure the safe and efficient operation of these batteries.

Electric motors are responsible for converting electrical energy into mechanical power to drive the vehicle. In the electric passenger car components market, various types of electric motors are used, including permanent magnet motors, induction motors, and synchronous motors. Ongoing developments focus on enhancing motor efficiency, reducing size and weight, and optimizing power output. Additionally, innovations in motor control algorithms contribute to smoother and more efficient operation.

Power electronics play a crucial role in managing the flow of electricity between the battery and the electric motor. Inverters are responsible for converting direct current (DC) from the battery into alternating current (AC) for the motor. The efficiency and performance of power electronics directly impact the overall efficiency and driving experience of electric passenger cars. Advancements aim to reduce power losses and improve energy conversion efficiency.

Charging infrastructure components include charging stations, connectors, and charging management systems. As the electric vehicle market grows, the development of a robust and accessible charging network is essential. Fast-charging stations with high power output are becoming more prevalent, reducing charging times significantly. Wireless charging technologies are also gaining traction, offering greater convenience to electric vehicle owners.

Electric vehicle drivetrains encompass various components, including the electric motor, transmission, and differential. These components work together to deliver power from the motor to the wheels efficiently. Innovations in drivetrain design focus on reducing weight and complexity while optimizing power distribution for improved performance and energy efficiency.

ADAS components include sensors (such as cameras, radar, and lidar), computer processors, and software algorithms that enable features like adaptive cruise control, lane-keeping assist, and autonomous emergency braking. The integration of ADAS technology into electric passenger cars enhances safety, convenience, and the overall driving experience. Ongoing developments aim to improve the accuracy and capabilities of these systems.

Electric passenger cars often feature unique interior and exterior design elements. Lightweight materials, aerodynamic features, and innovative interior layouts are used to improve efficiency and aesthetics. The design of components such as body panels, lighting systems, and infotainment displays plays a significant role in attracting consumers to electric vehicles.

BMS is a crucial component for monitoring and managing the health and safety of lithium-ion batteries. It ensures that cells within the battery pack are balanced, prevents overcharging and overheating, and maximizes the lifespan of the battery. As electric vehicles become more prevalent, BMS technology continues to evolve to optimize battery performance and reliability.

Each component type segment within the electric passenger car components market plays a vital role in the overall functionality, performance, and safety of electric vehicles. Continuous advancements in these components are driving the growth and evolution of the electric vehicle industry, making electric cars more attractive to consumers and accelerating their adoption worldwide.


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Regional Insights

North America is a significant player in the electric passenger car components market. The region is characterized by a growing demand for electric vehicles, driven by government incentives, stringent emissions regulations, and increasing environmental awareness. The United States has seen considerable investments in electric vehicle manufacturing and charging infrastructure. Major automakers and technology companies are competing to establish a strong presence in this market. Additionally, North America is witnessing innovations in battery technology, electric drivetrains, and charging solutions.

Europe has emerged as a hotbed for electric passenger car components, with several countries leading the way in EV adoption. The European Union has implemented strict emissions targets, pushing automakers to invest heavily in electric vehicle technology. Countries like Norway and the Netherlands have high electric vehicle penetration rates, thanks to generous incentives and a well-developed charging infrastructure. European component manufacturers are at the forefront of battery technology, charging solutions, and electric drivetrains. The region is also fostering collaborations between automakers and utility companies to facilitate smart grid integration.

The Asia-Pacific region, particularly China, is a global leader in electric passenger car components. China has the world's largest electric vehicle market, driven by a combination of government policies, incentives, and strong domestic manufacturing capabilities. Chinese companies are major players in battery production, electric motors, and electric vehicle components. Japan and South Korea are also contributing significantly to the market, with established automakers and technological advancements in batteries and power electronics. The region's electric vehicle growth is further boosted by expanding charging infrastructure.

Latin America is gradually entering the electric passenger car market, primarily driven by environmental concerns and government incentives. Countries like Brazil and Mexico are witnessing the introduction of electric vehicles from global automakers. However, the market is still in its infancy, with limited charging infrastructure and consumer awareness. The region's potential for electric passenger car components lies in the development of policies and incentives that encourage EV adoption, along with the expansion of charging networks.

The Middle East and Africa are beginning to explore electric passenger cars, with some countries showing interest in reducing their reliance on fossil fuels. The United Arab Emirates, for example, has started to promote electric vehicles and is investing in charging infrastructure. However, the market is relatively small compared to other regions due to economic challenges and the dominance of oil-based transportation. The growth of electric passenger car components in this region depends on government initiatives and international collaborations.

In conclusion, the global electric passenger car components market is experiencing varying degrees of growth and development across different regions. North America, Europe, and Asia-Pacific are leading the charge, with established markets and advanced technologies. Latin America is slowly emerging, while the Middle East and Africa are in the early stages of adoption. Regional dynamics, government policies, consumer preferences, and infrastructure development will continue to shape the trajectory of the electric vehicle industry worldwide.

Recent Developments

  • In January 2023, Bosch's venture arm, Robert Bosch Venture Capital GmbH, has partnered with Boyuan Private Equity Capital Management Company Ltd., Beiqi Foton, Beijing SinoHytec Co., Ltd., and Shenzhen Fuyuan Smart Investment Partnership to create Beijing Kawen New Energy Vehicle Co., Ltd. This collaboration will focus on the research, development, production, and sales of battery electric vehicles, hydrogen-powered commercial vehicles, as well as the development of core components and systems in the electric mobility sector.

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
  • SUV
  • Sedan
  • Hatchback
  • MUV
  • 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
  • Others
  • North America
  • Europe & CIS
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

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

  • Electric Passenger Car Components Market, By Vehicle Type:

o   SUV

o   Sedan

o   Hatchback

o   MUV

  • Electric Passenger Car 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 Passenger Car Components Market, By Component Type:

o   Battery Packs

o   DC-DC Converter

o   Controller & Inverter

o   Motor

o   On-Board Chargers

o   Others

  • Electric Passenger Car 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 Passenger Car Components Market.

Available Customizations:

Global Electric Passenger Car 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).
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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 Passenger Car Components Market

5.    Global Electric Passenger Car 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 (SUV, Sedan, Hatchback, MUV)

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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Passenger Car 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 Vehicle Type

15.1.3.  Target Type

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The Global Electric Passenger Car Components Market size reached USD 152.83 billion in 2022

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Hybrid Electric Vehicles (HEVs) have been dominating the vehicle type segment in recent years. These vehicles, which combine internal combustion engines with electric motors, offer improved fuel efficiency and reduced emissions. HEVs have gained popularity worldwide as a transitional solution toward full electrification, appealing to environmentally-conscious consumers and meeting stringent emissions regulations while providing the familiarity of conventional combustion engines.

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Europe has emerged as the dominant region in the Global Electric Passenger Car Components Market. Stringent emissions regulations, robust government incentives, and a growing environmental consciousness have driven significant electric vehicle adoption. European automakers are at the forefront of electric car manufacturing, and the region boasts a well-developed charging infrastructure, making it a key player in advancing electric mobility.

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The major drivers for the Global Electric Passenger Car Components Market are stringent environmental regulations promoting cleaner transportation, advancements in battery technology enhancing EV performance, and rising consumer awareness and incentives fueling electric car demand.

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Srishti Verma

Business Consultant
Press Release

Global Electric Passenger Car Components Market to Grow with a CAGR of 8.32% through 2028

Oct, 2023

Stringent environmental regulations promoting cleaner transportation, advancements in battery technology enhancing EV performance, and rising consumer awareness all these factors are driving market i

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