Electric Vehicle Component Market

The global electric vehicle components market was estimated to be USD 124.9 billion in 2017 and is projected to reach USD 583.5 billion by the end of 2025, exhibiting a CAGR of 21.3% during the forecast period.

Global Electric Vehicles Market Revenue, 2018–2025 (USD Billion)

Source: GMI Research

Factors such as favourable government policies and regulations, rise in demand for environment friendly vehicles by the consumers and increased focus of OEM’s towards the development of technologically advanced components are likely to positively impact the market in the coming years.

Based on component, battery pack segment held the largest share in 2017

Growing demand for electric vehicles are supporting the growth of the battery packs. The battery pack segment has further been bifurcated into Lithium-ion battery, Nickel Metal Hydride Battery and Others. Lithium-ion battery is projected to grow at the highest CAGR during 2018 -2025 due to its characteristics such as safety, life-span, performance, specific energy and specific power

Global Electric Vehicles Market Revenue, by Region, 2017

Source: GMI Research

Asia-Pacific held the largest share in the market in 2017 owing to government support in terms subsides, tax rebates, grants as well as with the improved charging infrastructure. China and Japan are the key countries in the region with highest number of electric vehicle registrations.

Automakers, such as Toyota, Fisker and BMW are investing a lot in the research & development activities of the electric vehicles. These companies are focusing on introducing commercial electric vehicles by 2020. Additionally, the report has also covered profiles of the major companies active in the field, including LG Chem., Panasonic Corporation, Samsung SDI, Automotive Energy Supply Corporation, Infineon Technologies, Mitsubishi Electric Corporation, Bosch, Continental Automotive, Microsemi Corporation, Denso Corporation, GKN PLC

The research report “global electric vehicle market” provides in-depth analysis of global electric vehicle market based on components and major geographies from the period 2018 to 2025. The report highlights the major market drivers pushing the growth and challenges faced by market participants. The research report provides market size and forecast for electric vehicle components market. Further, the report also analyses the competitive landscape and the major players and their market share in 2017. The competitive landscape section of the report also captures and states the recent development in the market.

Key questions answered in this research report:

1. At what pace is the electric vehicles market growing worldwide? What will be the growth trend in future?
2. What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the coming years?
3. What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global electric vehicles market?
4. What are the various application areas and how they are poised to grow?