Electric Vehicle Component Market Research Report

Electronics | Arif

Sep 4, 2021

Global Electric Vehicle Component Market

The GMI Research projects that the Electric Vehicle Component Market will encounter an increase in demand over the forecast period. This is because of the accessibility of an extensive range of electronic passenger cars with superior technology and charging infrastructure and soaring consciousness among consumers.

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Introduction of the Electric Vehicle Component Market

An electric vehicle refers to an electric drive vehicle utilized through at least one electric engine. The vehicle is influenced by electric engines activated by power-driven battery packs. The vehicle is a self-transport for travelers using the power stored in the electric motor batteries.

Electric Vehicle Component Market Dynamics

The factors compounding the growth of the global electric vehicle component market include strategic governmental norms and policies such as subsidies, accelerating demand for eco-friendly vehicles, and amplified emphasis towards the establishment of technologically sophisticated constituents by OEMs. Besides this, the expansion in the vehicle portfolio and the requirement of less charging time are driving the market growth. Moreover, the impact of oil-based transportation on the environment and the agitation towards peak oil has regenerated eagerness for electric transportation infrastructure, thereby boosting the market demand. However, excessive research and development expenditure, limited lifespan of batteries, and insufficient charging infrastructure are restraining the Electric Vehicle Component market size.

Electric Vehicle Component Market Segmentation:

Segmentation by Components
  • Battery Pack
  • Lithium-Ion Battery
  • Nickel Metal Hydride Battery
  • Others
  • Chassis
  • Vehicle Body
  • Drivetrain
  • Electric Motor
  • Permanent Magnet Motor
  • AC Induction Motor
  • Brushless DC Motor
  • Inverter/Generator
  • Vehicle Control Unit
  • Transmission
  • Single Gear Transmission
  • Multi-Gear Transmission
  • On-Board Charger
  • Equipment
  • Others
Segmentation by Region:
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • RoW
    • UAE
    • Brazil
    • South Africa
    • Saudi Arabia

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GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects.