Global EV Platform Market size was valued US$ XX Mn. in 2019 and the total revenue is expected to grow about 36% from 2020 to 2027, reaching nearly US$ XX Mn.
Global EV Platform Market: Overview
The electric vehicle platform is a type of station where the electric vehicle gets its power. Thus, it majorly impacts on the electric vehicle characteristic and its specification. This platform has underbody, suspension, and steering mechanism. The floor acts as the body and chassis of the vehicle. This vehicle consists of battery which is used to power the vehicle. These platforms are designed, modified, and assembled in the manner to serve a multiple model of electric vehicle variants. This type of technology reduces the electric vehicle cost. This type of Electric vehicle provides improved cabin design and motors & battery.
The Asia Pacific region is the prominent region for the growth of electric vehicle. It has majority of vehicle manufacturers including manufacturers of electric vehicle. Electric Vehicle Platform market in APAC is forecasted to show growth owing to the countries like China and Japan. India and South Korea are also taking initiatives to reduce emission of vehicle and also promoting more use of electric vehicle, which in turn increases the growth of EV platform.
Global EV Platform Market: Key Insights
Number of light electric vehicles globally reached 2,264 Thousand units in 2019, which is higher than 2018 by 9 %. This growth rate has been seen from past 6 years, which was in between 46% and 69%.
There has been a considerable decrease in sales of vehicle in major market in second half of 2019 in the two largest markets, China and the USA.
Global EV Platform Market1
Global EV Platform Market: Challenges
• High cost of Electric vehicles in comparison to ICE vehicles
• Stringent rules for installation of charging stations
• Limited range of Electric Vehicles
Global EV Platform Market: Regional Overview
The Global EV Platform Market is segmented into Asia Pacific, North America, Europe, South America, and Middle East & Africa. The Asia Pacific Region is the major market for EV Platform. Electric vehicle is forecasted to show major growth in countries like Japan and China. North America and Europe is expected to be the fastest growing region for market of EV platform in the forecasted period. Europe has rigid infrastructure for electric vehicle and EV technology is also getting popular. Middle East and Africa will be the least growing market for EV Platform.
The report also helps in understanding EV Platform Market dynamics, structure by analyzing the market segments and projects the EV Platform Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the EV Platform Market make the report investor’s guide.
Scope of the EV Platform Market
EV Platform Market, by Product Type
EV Platform Market, by End User
• Passenger Vehicles
• Commercial Vehicles
EV Platform Market, by Battery Type
• Lead carbon
EV Platform Market, by Charging Type
• Normal Charging
• Super Charging
EV Platform Market, by Region
• Asia Pacific
• North America
• South America
• Middle East & Africa
Key players operating in EV Platform Market
• Sono Motors
• Cruise Car
• Solar Electric Vehicle Company
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