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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global EV Platform Market Analysis
The EV platform market trends and developments are shaped by favourable government policies and regulations in numerous countries aimed at mitigating greenhouse gas emissions and promoting sustainable transportation. Simultaneously, consumers are increasingly drawn to electric vehicles due to their positive environmental impact and low ownership costs, favouring the EV platform market growth.
Rapid urbanisation and the initiation of multiple smart city development plans are some of the factors aiding the EV platform market demand. The integration of electric vehicles with smart city infrastructure offers promising solutions for sustainable transportation by addressing issues such as traffic congestion and air quality in urban areas.
EV Platform Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 11.60 billion.
The market is estimated to grow at a CAGR of 20.5% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach about USD 62.12 billion by 2032.
The market is being driven by the rising demand for long-range electric vehicles and technological advancements enabling the manufacturing of improved components.
The implementation of policies and regulations for carbon emission control and the increasing consumer interest towards EVs due to reduced environmental impact are some of the major trends in the market.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The different vehicle types considered in the market report are hatchbacks, sedans, and utility vehicles.
The market's key players are Nissan Motor Co., Ltd., Mahindra & Mahindra Limited, General Motors, Hyundai Motor Company, Volkswagen AG, Tesla Group, BYD Company Ltd., Open Motors, and REE Automotive Ltd., among others.
Based on the components, the market is divided into suspension systems, motor systems, batteries, brake systems, chassis, electronic control units, and steering systems.
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