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The Global Electric Vehicle Components Market is projected to grow at CAGR of close to 30% during the forecast period, on account of surging sales of electric vehicles on the back of growing awareness about vehicle emission and government subsidies on purchase of these vehicles. As the electric vehicle market continues to expand, replacement demand is expected to increase in the future years.
In 2016, the transportation sector accounted for over 24% of global greenhouse gases (GHG) emission, so economies plan to tackle the situation by electrification of public fleet, which will result in increased demand for electric vehicles and components in the coming years. This is anticipated to give substantial boost to the market across the globe.
The market can be segmented based on component, vehicle type, end-user and region. In terms of vehicle type, electric three-wheeler held the dominant share in 2019. However, on account of favorable government policies for pushing the sales of electric passenger cars, the market share of this segment is projected to increase over the next five years.
Based on geography, globally, Asia-Pacific is the leading region in the electric vehicle components markets due to growing sales and production of electric vehicles in countries such as Japan, India, China, among other. Moreover, Chinaheld the record sales of 1.1 million electric vehicles in 2018, worldwide and the country is projected to lead the regional market as well.
Major companies in the Global Electric Vehicle Components Market include Robert Bosch GmbH, Denso Corporation, Samsung SDI Co. Ltd., Contemporary Amperex Technology Co. Ltd. (CATL), BYD Co. Ltd., Siemens AG, Hitachi Ltd., Mitsubishi Electric Corp., OptimumNano Energy Co. Ltd, etc. The companies operating in the market are using organic growth strategies like geographical expansion to increase their share in the electric vehicle components market. For instance, in 2018, CATL and Samsung announced to open their subsidiaries in North America as part of their expansion growth strategies.
Years considered for this report:
- Historical Years: 2015-2018
- Base Year: 2019
- Estimated Year: 2020
- Forecast Period: 2021-2025
Objective of the Study
- To analyze and forecast the market size of the Global Electric Vehicle Components Market.
- To forecast the Global Electric Vehicle Components Market based on component, end-user, vehicle type and regional distribution.
- To identify drivers and challenges for the Global Electric Vehicle Components Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc. in the Global Electric Vehicle Components Market.
- To identify and analyze the profile of leading players operating in the Global Electric Vehicle Components Market.
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Global Electric Vehicle Components Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Component (Battery Pack; Electric Motor; Controller; Vehicle Interface Control Module; Others)
5.2.2. By Vehicle Type (Electric Passenger Car; Electric Commercial Vehicle, Electric Two-Wheeler, & Electric Three-Wheeler)
5.2.3. By End User (OEM; Aftermarket)
5.2.4. By Company (2019)
5.2.5. By Region
5.3. Product Market Map
6. Asia-Pacific Electric Vehicle Components Market Outlook
7. Europe Electric Vehicle Components Market Outlook
8. North America Electric Vehicle Components Market Outlook
9. South America Electric Vehicle Components Market Outlook
10. Middle East and Africa Electric Vehicle Components Market Outlook
11. Market Dynamics
12. Market Trends & Developments
13. Competitive Landscape
13.1. Robert Bosch GmbH
13.2. Denso Corporation
13.3. Samsung SDI Co. Ltd.
13.4. Contemporary Amperex Technology Co. Ltd. (CATL)
13.5. BYD Co. Ltd.
13.6. Siemens AG
13.7. Hitachi Ltd.
13.8. Mitsubishi Electric Corp.
13.9. OptimumNano Energy Co. Ltd.
14. Strategic Recommendations
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