The Electric Vehicle Parts And Components Global Market Report 2023, provides comprehensive information on the electric vehicle parts and components market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The Electric Vehicle Parts And Components Market’s Growth:
The global electric vehicle parts and components market is expected to grow from $156.25 billion in 2022 to $183.61 billion in 2023 at a compound annual growth rate (CAGR) of 17.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The electric vehicle parts and components market is expected to reach $330.10 billion in 2027 at a CAGR of 15.8%.
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Product innovations are a key trend gaining popularity in the electric vehicle parts and components market. Companies operating in the electric vehicle parts and components market are innovating new technologies to sustain their position in the market. For instance, in May 2023, Volkswagen, a Germany-based vehicle manufacturer launched a new AV battery with a 1000 km range called Astroinno. The new battery may have a better energy density than typical lithium-iron-phosphate (LFP) batteries and be less expensive than those that primarily rely on nickel and cobalt. It is powered by a 140 kilowatt-hour (kWh) battery pack and it is charged from a low level to 80% in 18 minutes and also maintains an 88% yield rate when the temperature drops to -20 degrees Celsius.
The electric vehicle parts and components market is segmented:
1) By Component: Battery Packs, DC-DC Converters, Controller And Inverter, Motor, Onboard Charger
2) By Vehicle: Passenger Cars, Commercial Vehicles
3) By Propulsion: Battery Electric Vehicle, Plug-in Hybrid Vehicle, Fuel Cell Electric Vehicle, Hybrid Electric Vehicle
4) By Sale Channel: OEM (Original Equipment Manufacturer), Aftermarket
Asia-Pacific was the largest region in the electric vehicle parts and components market in 2022.
The table of contents in TBRC’s electric vehicle parts and components market report includes:
- Executive Summary
- Electric Vehicle Parts And Components Market Characteristics
- Electric Vehicle Parts And Components Market Trends And Strategies
- Electric Vehicle Parts And Components Market – Macro Economic Scenario
- Electric Vehicle Parts And Components Market Segmentation
- Global Electric Vehicle Parts And Components Market Competitive Benchmarking
- Global Electric Vehicle Parts And Components Market Competitive Dashboard
- Key Mergers And Acquisitions In The Electric Vehicle Parts And Components Market
- Electric Vehicle Parts And Components Market Future Outlook and Potential Analysis
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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