The EV platform market size has grown exponentially in recent years. It will grow from $12.29 billion in 2024 to $15.68 billion in 2025 at a compound annual growth rate (CAGR) of 27.6%. The growth in the historic period can be attributed to government regulations, the rise of environmental concerns, automotive industry transformation, reduced battery costs, and consumer demand for electric mobility
The EV platform market size is expected to see exponential growth in the next few years. It will grow to $38.86 billion in 2029 at a compound annual growth rate (CAGR) of 25.5%. The growth in the forecast period can be attributed to the regulatory push for zero-emission vehicles, cost reduction in battery production, increase in range and performance, global investments in EV infrastructure, and global electrification initiatives. Major trends in the forecast period include versatile modular architectures, standardization, and compatibility, urban mobility solutions, focus on lightweight materials, increased connectivity, and data handling.
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What key drivers have fueled the ev platform market’s development over the years?
The increase in demand for electric vehicles (EVs) is expected to propel the growth of the EV platform market going forward. The electric vehicle is an automotive device powered by an electric motor that takes electricity from a battery and can be charged from an external source. Automobile manufacturers prefer EV platforms for producing various vehicles, including EV automobiles, as they support flexible manufacturing of vehicles, such as electric vehicles, by enabling a more spacious interior, larger batteries, and less wasted space. For instance, in April 2023, according to the International Energy Agency, a France-based independent intergovernmental organization, more than 10 million electric vehicles will be sold worldwide in 2022, which was increased to 14% in 2022, increasing the total number of electric vehicles on the road to 16.5 million. Further, the sales of electric cars worldwide in 2021 had a sales share of 4%. Therefore, the increase in demand for electric vehicles (EVs) is driving the growth of the EV platform market.
What is the segmentation for the ev platform market?
The EV platform market covered in this report is segmented –
1) By Platform: P0, P1, P2, P3, P4
2) By Component: Chassis, Battery, Suspension System, Steering System, Drivetrain, Vehicle Interior, Other Components
3) By Electric Vehicle Type: Hybrid Electric Vehicle, Battery Electric Vehicle, Plug-in Hybrid Electric Vehicles
4) By Sales Channel: Original Equipment Manufacturer(OEM), After market
5) By Application: Passenger Vehicle, Commercial Vehicle
Subsegments:
1) By P0: Conventional ICE Platform With Electric Drive Integration
2) By P1: Hybrid Electric Vehicle (HEV) Platform
3) By P2: Plug-In Hybrid Electric Vehicle (PHEV) Platform
4) By P3: Battery Electric Vehicle (BEV) Platform
5) By P4: Fuel Cell Electric Vehicle (FCEV) Platform
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Who are the most influential companies in the ev platform market?
Major companies operating in the EV platform market include Volkswagen Group, Toyota Motor Corporation, Ford Motor Company Limited, General Motors LLC., Bayerische Motoren Werke GmbH, Honda Motor Co. Ltd., SAIC Motor Corporation Limited, Tesla Inc., Nissan Motor Co. Ltd., BYD Company Ltd., Geely Auto Group, Great Wall Motor Co. Ltd., Hyundai Motor Co. Ltd., Chery Automobile Co. Ltd., Anhui Jianghuai Automobile Co. Ltd., Guangzhou Xiaopeng Motors Technology Co Ltd., Rivian LLC, Kia America Inc., Polestar, Canoo Inc., Leapmotor Inc., Faraday Future Intelligent Electric Inc., Lucid Group Inc., Fisker Inc., Nikola Corporation, Hyliion Holdings Corp, Ztractor, BAIC Group.
What are the top industry trends projected to impact the ev platform market?
Technological advancements are a key trend gaining popularity in the EV platform market. Major companies operating in the EV platform market are adopting new technologies to sustain their position in the market. For instance, in May 2023, London Electric Vehicle Company (LEVC), a UK-based automotive company, launched the Space Oriented Architecture (SOA), a new advanced modular EV platform co-developed with Geely Holding Group, a China-based automobile company. This adaptable Space-Oriented Architecture (SOA) includes pure electric vehicle technology with a sophisticated and scalable SOA platform that improves connectivity, range, efficiency, safety, and charging times. The most recent advancements in electronic platform technology are also incorporated into space-oriented architecture (SOA), including L-OS, a full-featured digital operating system with autonomous driving and intelligent cockpits.
What are the major regional insights for the ev platform market, and which region holds the top position?
North America was the largest region in the EV platform market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the EV platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Does The EV Platform Market Report 2025 Offer?
The ev platform market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
EV platform refers to the foundational structure, where several vehicle components are integrated into the platform. The platform’s foundation is an autonomous system made up of various EV parts that allow easy changing of the wheelbase, track width, and battery housing.
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