Electric Vehicle Components Market was valued at USD 85 Billion in 2022 and is projected to reach USD 200 Billion by 2030, growing at a CAGR of 11.5% from 2024 to 2030.
The electric vehicle (EV) components market was valued at approximately USD 60 billion in 2022, with a projected compound annual growth rate (CAGR) of 25% from 2023 to 2030. This growth trajectory is driven by the increasing adoption of electric vehicles due to environmental regulations and advancements in battery technologies. The market encompasses various components, including batteries, electric drivetrains, and charging systems, each contributing to the overall expansion of the sector. The burgeoning demand for efficient and high-performance EV components is fueling significant investments in research and development, aiming to enhance energy density and reduce costs.
Opportunity analysis reveals substantial potential in emerging markets, particularly in regions such as Asia-Pacific and Latin America. As governments in these regions implement stricter emission regulations and provide incentives for EV adoption, the demand for EV components is expected to surge. Additionally, the development of infrastructure for electric vehicle charging stations presents a considerable growth avenue. With a focus on technological advancements and cost reduction, the EV components market is poised for robust expansion, driven by both established automotive giants and new entrants aiming to capitalize on the electrification trend.
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Robert Bosch
Denso Corp.
ZF Friedrichshafen
Magna International
Aisin Seiki
Hyundai Mobis
Continental
Lear Corp.
Forvia
Valeo
Tenneco Inc.
Yazaki Corp.
Sumitomo Electric
BorgWarner Inc.
Yanfeng Automotive
Hitachi Automotive
Panasonic Automotive
Mahle GmbH
MARELLI
JTEKT Corp.
Motherson Group
Gestamp
ThyssenKrupp AG
Plastic Omnium
Toyota Boshoku Corp.
Dana Incorporated
Schaeffler
Autoliv Inc.
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Electric Vehicle Components Market
OEMs
Aftermarket
Based on Types the Market is categorized into Below types that held the largest Electric Vehicle Components market share In 2023.
Driveline and Powertrain
Interiors and Exteriors
Electronics
Bodies and Chassis
Seating
Lighting
Wheel and Tires
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Electric Vehicle Components Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Electric Vehicle Components Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Electric Vehicle Components Market, By Type
6. Global Electric Vehicle Components Market, By Application
7. Global Electric Vehicle Components Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Electric Vehicle Components Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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