Electric Vehicle Parts And Components Market Introduction and Overview
According to SPER Market Research, the Global Electric Vehicle Parts And Components Market is estimated to reach USD 1525.35 billion by 2033 with a CAGR of 22.73%.
The report includes an in-depth analysis of the Global Electric Vehicle Parts And Components Market, including market size and trends, product mix, distribution channels, and supplier analysis. The electric motor, battery, power electronics, charging systems, and numerous management systems are all specialised parts and system component created exclusively for electric cars. They are required for the operation and performance of electric cars, since they allow for the conversion and storage of electrical energy, control power flow, manage energy use, and facilitate charging.
- April 2022: The Toyota bZ4x and Subaru Solterra will receive electric vehicle (EV) products created by Denso Corporation (Denso). Additionally, Denso will supply a battery monitoring electronic control unit (ECU) that keeps track of the battery's status as well as sensors that keep track of battery voltage and temperature.
- Reduced cost of the electric vehicles: The market growth rate is expanded by increased production and manufacturing of the parts needed for electric vehicles, rising customer demands, improved production in the wake of a pandemic, quick adoption of newly developed technology, rising benefits of electric vehicles, and increased growth of the auto industry with new cutting-edge technologies.
Market Opportunities and Challenges
One important market opportunity in the global electric vehicle parts and components market is the increasing demand for sustainable transportation solutions. As governments and consumers prioritize environmental concerns and seek to reduce greenhouse gas emissions, the demand for electric vehicles and their components is expected to rise significantly. This presents a lucrative opportunity for manufacturers and suppliers in the market to meet the growing demand for electric vehicle parts and components.
However, a major challenge in this market is the intense competition and rapidly evolving technological landscape. As the demand for electric vehicles grows, numerous companies are entering the market, leading to increased competition. Additionally, the electric vehicle industry is experiencing rapid technological advancements, such as improved battery technology and autonomous driving features, which can make certain components obsolete or require manufacturers to adapt quickly. Keeping up with technological advancements and maintaining a competitive edge can be a significant challenge for companies operating in this market.
Market Competitive Landscape
Electric vehicle component production is predominantly focused in China, Japan, South Korea, and the United States, with all of the leading manufacturing businesses being in these four nations. The evolving partnerships between these manufacturers and automotive companies are expected to expand the studied market globally. The key players in the global Electric Vehicle Parts And Components market include Bosch Limited, Continental AG, Denso Corporation, Eastman Auto & Power Ltd, Hitachi Ltd, Hyundai Mobis, Okaya Power Ltd, Panasonic Corporation, Robert Bosch GmbH, Samsung SDI Co. Ltd, Siemens AG, Tata Motors Limited, Tesla Inc, Toyota Industries Corporation, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Vehicle Type, By Propulsion Type, By Component Type, By Sale Channel
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| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
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| Companies Covered | Bosch Limited, Continental AG, Denso Corporation, Eastman Auto & Power Ltd, Exide Industries Pvt Ltd, Hella GmbH & Co. KGaA, Hitachi Ltd, Hyundai Mobis, LG Chem Ltd, Maruti Suzuki, Mitsubishi Electric Corp, Okaya Power Ltd, Panasonic Corporation, Robert Bosch GmbH, Samsung SDI Co. Ltd, Siemens AG, Tata Motors Limited, Tesla Inc, Toyota Industries Corporation, Others
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COVID-19 Impact on Global Electric Vehicle Parts And Components Market
The COVID-19 pandemic had a significant impact on the global electric vehicle parts and components market. Supply chain disruptions, reduced demand, and manufacturing challenges due to lockdown measures and economic uncertainties affected the production and availability of components. Consumer behaviour shifted, leading to delayed or cancelled purchases of electric vehicles and their associated parts. However, government incentives and stimulus packages aimed at promoting electric vehicles provided some support. As economies recover, the focus on sustainability and reducing carbon emissions presents growth opportunities for the electric vehicle parts and components market in the long term.
Key Target Audience
- Academia and educational institutions
- Aftermarket retailers and distributors
- Automotive component suppliers
- Consumers
- Electric vehicle manufacturers
- Environmental and sustainability organizations
- Government and regulatory bodies
- Industry associations and trade organizations
- Investors and financial institutions
- Research and development organizations
Our in-depth analysis of the Electric Vehicle Parts And Components Market includes the following segments:
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By Vehicle Type:
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Commercial Vehicles
Passenger Cars
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By Propulsion Type:
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Battery Electric Vehicle
Fuel Cell Electric Vehicle
Hybrid Electric Vehicle
Plug-in Hybrid Vehicle
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By Component Type:
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Battery Packs
Controller & Inverter
DC-DC Converters
Motor
Onboard Charger
Others
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By Sale Channel:
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Original Equipment Manufacturer
Aftermarket
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Key Topics Covered in the Report
- Global Electric Vehicle Parts And Components Market Size (FY’2023-FY’2033)
- Overview of Global Electric Vehicle Parts And Components Market
- Segmentation of Global Electric Vehicle Parts And Components Market By Vehicle Type (Commercial Vehicles, Passenger Cars)
- Segmentation of Global Electric Vehicle Parts And Components Market By Propulsion Type (Battery Electric Vehicle, Fuel Cell Electric Vehicle, Hybrid Electric Vehicle, Plug-in Hybrid Vehicle)
- Segmentation of Global Electric Vehicle Parts And Components Market By Component (Battery Packs, Controller & Inverter, DC-DC Converters, Motor, Onboard Charger, Others)
- Segmentation of Global Electric Vehicle Parts And Components Market By Sale Channel (Original Equipment Manufacturer, Aftermarket)
- Statistical Snap of Global Electric Vehicle Parts And Components Market
- Expansion Analysis of Global Electric Vehicle Parts And Components Market
- Problems and Obstacles in Global Electric Vehicle Parts And Components Market
- Competitive Landscape in the Global Electric Vehicle Parts And Components Market
- Impact of COVID-19 and Demonetization on Global Electric Vehicle Parts And Components Market
- Details on Current Investment in Global Electric Vehicle Parts And Components Market
- Competitive Analysis of Global Electric Vehicle Parts And Components Market
- Prominent Players in the Global Electric Vehicle Parts And Components Market
- SWOT Analysis of Global Electric Vehicle Parts And Components Market
- Global Electric Vehicle Parts And Components Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Electric Vehicle Parts And Components Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Electric Vehicle Parts And Components Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Electric Vehicle Parts And Components Market
7. Global Electric Vehicle Parts And Components Market, By Vehicle Type (USD Million)
7.1. Global Electric Vehicle Parts And Components Market Value Share and Forecast, By Vehicle Type, 2023-2033
7.2. Commercial Vehicles
7.3. Passenger Cars
8. Global Electric Vehicle Parts And Components Market, By Propulsion Type (USD Million)
8.1. Global Electric Vehicle Parts And Components Market Value Share and Forecast, By Propulsion Type, 2023-2033
8.2. Battery Electric Vehicle
8.3. Fuel Cell Electric Vehicle
8.4. Hybrid Electric Vehicle
8.5. Plug-in Hybrid Vehicle
9. Global Electric Vehicle Parts And Components Market, By Component Type (USD Million)
9.1. Global Electric Vehicle Parts And Components Market Value Share and Forecast, By Component Type, 2023-2033
9.2. Battery Packs
9.3. Controller & Inverter
9.4. DC-DC Converters
9.5. Motor
9.6. Onboard Charger
9.7. Others
10. Global Electric Vehicle Parts And Components Market, By Sale Channel (USD Million)
10.1. Global Electric Vehicle Parts And Components Market Value Share and Forecast, By Sale Channel 2023-2033
10.2. Original Equipment Manufacturer
10.3. Aftermarket
11. Global Electric Vehicle Parts And Components Market Forecast, 2019-2033 (USD Million)
11.1. Global Electric Vehicle Parts And Components Market Size and Market Share
12. Global Electric Vehicle Parts And Components Market, By Vehicle Type, 2019-2033 (USD Million)
12.1. Global Electric Vehicle Parts And Components Market Size and Market Share By Vehicle Type (2019-2026)
12.2. Global Electric Vehicle Parts And Components Market Size and Market Share By Vehicle Type (2027-2033)
13. Global Electric Vehicle Parts And Components Market, By Propulsion Type, 2019-2033 (USD Million)
13.1. Global Electric Vehicle Parts And Components Market Size and Market Share By Propulsion Type (2019-2026)
13.2. Global Electric Vehicle Parts And Components Market Size and Market Share By Propulsion Type (2027-2033)
14. Global Electric Vehicle Parts And Components Market, By Component Type, 2019-2033 (USD Million)
14.1. Global Electric Vehicle Parts And Components Market Size and Market Share By Component Type (2019-2026)
14.2. Global Electric Vehicle Parts And Components Market Size and Market Share By Component Type (2027-2033)
15. Global Electric Vehicle Parts And Components Market, By Sale Channel, 2019-2033 (USD Million)
15.1. Global Electric Vehicle Parts And Components Market Size and Market Share By Sale Channel (2019-2026)
15.2. Global Electric Vehicle Parts And Components Market Size and Market Share By Sale Channel (2027-2033)
16. Global Electric Vehicle Parts And Components Market, By Region, 2019-2033 (USD Million)
16.1. Global Electric Vehicle Parts And Components Market Size and Market Share By Region (2019-2026)
16.2. Global Electric Vehicle Parts And Components Market Size and Market Share By Region (2027-2033)
16.3. Asia-Pacific
16.3.1. Australia
16.3.2. China
16.3.3. India
16.3.4. Japan
16.3.5. South Korea
16.3.6. Rest of Asia-Pacific
16.4. Europe
16.4.1. France
16.4.2. Germany
16.4.3. Italy
16.4.4. Spain
16.4.5. United Kingdom
16.4.6. Rest of Europe
16.5. Middle East and Africa
16.5.1. Kingdom of Saudi Arabia
16.5.2. United Arab Emirates
16.5.3. Rest of Middle East & Africa
16.6. North America
16.6.1. Canada
16.6.2. Mexico
16.6.3. United States
16.7. Latin America
16.7.1. Argentina
16.7.2. Brazil
16.7.3. Rest of Latin America
17. Company Profile
17.1. Bosch Limited
17.1.1. Company details
17.1.2. Financial outlook
17.1.3. Product summary
17.1.4. Recent developments
17.2. Continental AG
17.2.1. Company details
17.2.2. Financial outlook
17.2.3. Product summary
17.2.4. Recent developments
17.3. Denso Corporation
17.3.1. Company details
17.3.2. Financial outlook
17.3.3. Product summary
17.3.4. Recent developments
17.4. Eastman Auto & Power Ltd
17.4.1. Company details
17.4.2. Financial outlook
17.4.3. Product summary
17.4.4. Recent developments
17.5. Exide Industries Pvt Ltd
17.5.1. Company details
17.5.2. Financial outlook
17.5.3. Product summary
17.5.4. Recent developments
17.6. Hella GmbH & Co. KGaA
17.6.1. Company details
17.6.2. Financial outlook
17.6.3. Product summary
17.6.4. Recent developments
17.7. Hitachi Ltd
17.7.1. Company details
17.7.2. Financial outlook
17.7.3. Product summary
17.7.4. Recent developments
17.8. Hyundai Mobis
17.8.1. Company details
17.8.2. Financial outlook
17.8.3. Product summary
17.8.4. Recent developments
17.9. LG Chem Ltd
17.9.1. Company details
17.9.2. Financial outlook
17.9.3. Product summary
17.9.4. Recent developments
17.10. Maruti Suzuki
17.10.1. Company details
17.10.2. Financial outlook
17.10.3. Product summary
17.10.4. Recent developments
17.11. Mitsubishi Electric Corp
17.11.1. Company details
17.11.2. Financial outlook
17.11.3. Product summary
17.11.4. Recent developments
17.12. Okaya Power Ltd
17.12.1. Company details
17.12.2. Financial outlook
17.12.3. Product summary
17.12.4. Recent developments
17.13. Panasonic Corporation
17.13.1. Company details
17.13.2. Financial outlook
17.13.3. Product summary
17.13.4. Recent developments
17.14. Robert Bosch GmbH
17.14.1. Company details
17.14.2. Financial outlook
17.14.3. Product summary
17.14.4. Recent developments
17.15. Samsung SDI Co. Ltd
17.15.1. Company details
17.15.2. Financial outlook
17.15.3. Product summary
17.15.4. Recent developments
17.16. Siemens AG
17.16.1. Company details
17.16.2. Financial outlook
17.16.3. Product summary
17.16.4. Recent developments
17.17. Tata Motors Limited
17.17.1. Company details
17.17.2. Financial outlook
17.17.3. Product summary
17.17.4. Recent developments
17.18. Tesla Inc
17.18.1. Company details
17.18.2. Financial outlook
17.18.3. Product summary
17.18.4. Recent developments
17.19. Toyota Industries Corporation
17.19.1. Company details
17.19.2. Financial outlook
17.19.3. Product summary
17.19.4. Recent developments
17.20. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope