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EV Platform Market Size
- Report ID: GMI5793
- Published Date: May 2023
- Report Format: PDF
Electric Vehicle (EV) Platform Market Size
EV Platform Market size surpassed USD 9.5 billion in 2022 and is anticipated to grow at 20% CAGR from 2023 to 2032. Electric vehicle platforms have a generic foundation, lowering production costs. Contrary to the combined setup previously used to create both ICEs and EVs, separate setups are required for EVs. As a result, the industry is expected to grow at a very optimistic rate as the switch from ICEs to EVs is increasing rapidly.
Developing a reliable and efficient EV platform requires significant investments in research & development, leading to high production costs. As a result, the final cost of EVs built on these platforms is higher than that of ICE vehicles. This cost difference can deter price-sensitive customers from buying EVs, especially in the emerging markets where price sensitivity is high. Additionally, high battery costs will further increase the overall cost of EVs, adding to the challenge of making them affordable for the mass market.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| EV Platform Market Size in 2022: | USD 9.5 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 20% |
| 2032 Value Projection: | USD 65 Billion |
| Historical Data for: | 2018 – 2022 |
| No. of Pages: | 300 |
| Tables, Charts & Figures: | 424 |
| Segments covered: | Vehicle, Platform, Application, Sales Channel |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
EV Platform Market Scope
