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Electric Vehicle Component Market Research Report: By Component, End Use, Geographical Outlook - Industry Opportunity Analysis and Growth Forecast to 2025

  • ID: 4912425
  • Report
  • November 2019
  • Region: Global
  • 151 pages
  • Prescient & Strategic Intelligence Private Limited

FEATURED COMPANIES

  • ABB Ltd.
  • DENSO Corp.
  • LG Chem Ltd.
  • Mitsubishi Electric Corp.
  • Robert Bosch GmbH
  • Siemens AG
  • MORE
Rising Demand for Electric Vehicles Driving Electric Vehicle Component Market
In 2018, the global electric vehicle component market reached a value of $22.2 billion and is projected to attain $157.4 billion by 2025, advancing at a 29.4% CAGR during the forecast period (2019-2025). The market is witnessing growth because of the rising adoption of electric vehicles (EV) and declining cost of the components used in them. On the basis of end-use, the market is bifurcated into original equipment manufacturers (OEM) and aftermarket, among which, the larger demand for electric vehicle components was created by the OEMs division in 2018.

When component is taken into consideration, the electric vehicle component market is categorized into battery pack, controller, electric vehicle supply equipment, high-voltage cable, thermal management system, motor, DC-DC converter, power distribution module, and vehicle interface control module. The battery pack category is projected to account for the major share of the market during the forecast period, as it the most important part of the vehicles. Moreover, battery pack accounts for approximately 35-50% of the total cost of electric vehicles, which is why this component is the major revenue contributor to the market.

Among all the regions, namely Europe, Asia-Pacific (APAC), North America, and Rest of the World, the largest share of the electric vehicle component market was held by the APAC region in 2018. This was due to the increased usage of electric vehicles in the region, primarily in China. Factors including rising government support for EVs in the form of subsidies, increasing environmental concern, and growing ownership costs of internal combustion engine-based vehicles are leading to the use of electric vehicles in the region.

People are becoming more aware regarding the adverse effects of vehicular emissions on the environment, which is why the adoption of EVs is rising, further driving the electric vehicle component market. At the present time, approximately 43% of the total amount of greenhouse gases being emitted in the world is contributed by the automobile sector. Hence, several countries are taking initiatives to curb the emissions by reducing the use of fuel-based vehicles. The increased usage of electric vehicles will result in the reduction of the amount of carbon dioxide being emitted into the environment.

Furthermore, the governments of different countries are increasingly taking steps for supporting the adoption of electric vehicles. Tax exemptions, financial incentives, and purchase rebates are some of the supportive initiatives taken by governments, which are predicted to drive the electric vehicle component market in the coming years. For example, the federal government in the U.S. provides an Internal Revenue Service tax credit of $2,500 to $7,500 per new EV purchased, where the tax credit amount depends on the size of the vehicle and battery capacity.

A key trend that is being observed in the electric vehicle component market is the rising preference for induction motors over synchronous motors. The reason for this is that the induction motors have improved efficiency and aid in reducing the magnetic losses by decreasing the inverter voltage. In addition to this, these motors need minimal maintenance because of the absence of slip rings, brushes, and commutators, which is why their popularity has increased in the recent years.

Thus, the market is growing due to the growing adoption of electric vehicles, which is further taking place due to the rapid environmental degradation and rising government support for the adoption of electric vehicles.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ABB Ltd.
  • DENSO Corp.
  • LG Chem Ltd.
  • Mitsubishi Electric Corp.
  • Robert Bosch GmbH
  • Siemens AG
  • MORE
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Component
1.3.2 Market Segmentation by End Use
1.3.3 Market Segmentation by Region
1.3.4 Analysis Period
1.3.5 Market Data Reporting Unit
1.3.5.1 Value
1.4 Key Stakeholders

Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By region
2.2.1.2 By industry participant
2.2.1.3 By company type
2.3 Market Size Estimation
2.3.1 Baseline Factors
2.3.1.1 Vehicle production and demand
2.3.1.2 Aftermarket size
2.3.2 Global Electric Vehicle Component Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Component
4.1.1.1 Battery pack
4.1.1.1.1 Battery cell
4.1.1.1.2 BMS
4.1.1.1.3 Battery thermal management system
4.1.1.1.4 Others
4.1.1.2 Motor
4.1.1.3 Controller
4.1.1.4 EVSE
4.1.1.5 DC-DC converter
4.1.1.6 High-voltage cable
4.1.1.7 PDM
4.1.1.8 Thermal management system
4.1.1.9 VCIM
4.1.2 By End Use
4.1.2.1 OEM
4.1.2.2 Aftermarket
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Shift toward lithium-nickel-manganese-cobalt (NMC) oxide batteries from lithium-iron phosphate (LFP) batteries
4.3.1.2 Growing preference for induction motors
4.3.2 Drivers
4.3.2.1 Increasing adoption of electric vehicles
4.3.2.1.1 Growing environmental concern
4.3.2.1.2 Government support for electric vehicle adoption
4.3.2.2 Declining cost of the components
4.3.2.3 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 High initial cost of electric vehicles
4.3.3.2 Underdeveloped value chain
4.3.3.3 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Growth opportunities in the emerging economies in the world
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Buyers
4.4.2 Bargaining Power of Suppliers
4.4.3 Intensity of Rivalry
4.4.4 Threat of New Entrants
4.4.5 Threat of Substitutes

Chapter 5. Technological Trends and their Impact on Automotive Industry
5.1 Technological Trends in Electric Vehicle Batteries
5.2 Technological Trends in Electric Vehicle Motors

Chapter 6. Electric Two-Wheeler Component Market
6.1 Global Electric Two-Wheeler Component Market, By Component
6.1.1 Global Two-Wheeler Battery Pack Market
6.2 North America Electric Two-Wheeler Component Market, By Component
6.2.1 North America Two-Wheeler Battery Pack Market
6.3 Europe Electric Two-Wheeler Component Market, By Component
6.3.1 Europe Two-Wheeler Battery Pack Market
6.4 APAC Electric Two-Wheeler Component Market, By Component
6.4.1 APAC Two-Wheeler Battery Pack Market
6.5 RoW Electric Two-Wheeler Component Market, By Component
6.5.1 RoW Two-Wheeler Battery Pack Market

Chapter 7. Global Market Size and Forecast
7.1 By Component
7.1.1 Battery Pack, by Component
7.2 By End Use
7.3 By Region

Chapter 8. North America Market Size and Forecast
8.1 By Component
8.1.1 Battery Pack, by Component
8.2 By End Use

Chapter 9. Europe Market Size and Forecast
9.1 By Component
9.1.1 Battery Pack, by Component
9.2 By End Use
9.3 By Country

Chapter 10. APAC Market Size and Forecast
10.1 By Component
10.1.1 Battery Pack, by Component
10.2 By End Use
10.3 By Country

Chapter 11. ROW Market Size and Forecast
11.1 By Component
11.1.1 Battery Pack, by Component
11.2 By End Use
11.3 By Country

Chapter 12. Competitive Landscape
12.1 List of Players and Their Offerings
12.2 Market Share Analysis of Key Players
12.2.1 Electric Vehicle Battery Manufacturers
12.2.2 Electric Vehicle Motor and Controller Manufacturers
12.3 Competitive Benchmarking of Key Players
12.4 Global Strategic Developments of Key Players
12.4.1 Partnerships
12.4.2 Geographical Expansion
12.4.3 Facility Expansions
12.4.4 Client Wins
12.4.5 Other Developments

Chapter 13. Company Profiles
13.1 Robert Bosch GmbH
13.1.1 Business Overview
13.1.2 Product and Service Offerings
13.1.3 Key Financial Summary
13.2 Contemporary Amperex Technology Co. Ltd.
13.2.1 Business Overview
13.2.2 Product and Service Offerings
13.2.3 Key Financial Summary
13.3 Panasonic Corp.
13.3.1 Business Overview
13.3.2 Product and Service Offerings
13.3.3 Key Financial Summary
13.4 Siemens AG
13.4.1 Business Overview
13.4.2 Product and Service Offerings
13.4.3 Key Financial Summary
13.5 DENSO Corp.
13.5.1 Business Overview
13.5.2 Product and Service Offerings
13.5.3 Key Financial Summary
13.6 LG Chem Ltd.
13.6.1 Business Overview
13.6.2 Product and Service Offerings
13.6.3 Key Financial Summary
13.7 Tesla Inc.
13.7.1 Business Overview
13.7.2 Product and Service Offerings
13.7.3 Key Financial Summary
13.8 Hitachi Ltd.
13.8.1 Business overview
13.8.2 Product and service offerings
13.8.3 Key financial summary
13.9 ABB Ltd.
13.9.1 Business Overview
13.9.2 Product and Service Offerings
13.9.3 Key Financial Summary
13.10 Samsung SDI Co. Ltd.
13.10.1 Business Overview
13.10.2 Product and Service Offerings
13.10.3 Key Financial Summary
13.11 BYD Co. Ltd.
13.11.1 Business Overview
13.11.2 Product and Service Offerings
13.11.3 Key Financial Summary
13.12 Mitsubishi Electric Corp.
13.12.1 Business Overview
13.12.2 Product and Service Offerings
13.12.3 Key Financial Summary
13.13 LG Innotek Co. Ltd.
13.13.1 Business Overview
13.13.2 Product and Service Offerings
13.13.3 Key Financial Summary
13.14 OptimumNano Energy Co. Ltd.
13.14.1 Business Overview
13.14.2 Product and Service Offerings

Chapter 14. Appendix
14.1 Abbreviations
14.2 Sources and References
14.3 Related Reports

List of Tables
TABLE 1 ANALYSIS PERIOD OF THE STUDY
TABLE 2 INCENTIVE SCHEMES PREVAILING IN SOME MAJOR ELECTRIC VEHICLE-PRODUCING COUNTRIES
TABLE 3 DRIVERS FOR THE MARKET: IMPACT ANALYSIS
TABLE 4 RESTRAINTS FOR THE MARKET: IMPACT ANALYSIS
TABLE 5 GLOBAL ELECTRIC TWO-WHEELER COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
TABLE 6 GLOBAL TWO-WHEELER BATTERY PACK MARKET, BY TYPE, $M (2017-2025)
TABLE 7 NORTH AMERICA ELECTRIC TWO-WHEELER COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
TABLE 8 NORTH AMERICA TWO-WHEELER BATTERY PACK MARKET, BY TYPE, $M (2017-2025)
TABLE 9 EUROPE ELECTRIC TWO-WHEELER COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
TABLE 10 EUROPE TWO-WHEELER BATTERY PACK MARKET, BY TYPE, $M (2017-2025)
TABLE 11 APAC ELECTRIC TWO-WHEELER COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
TABLE 12 APAC TWO-WHEELER BATTERY PACK MARKET, BY TYPE, $M (2017-2025)
TABLE 13 ROW ELECTRIC TWO-WHEELER COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
TABLE 14 ROW TWO-WHEELER BATTERY PACK MARKET, BY TYPE, $M (2017-2025)
TABLE 15 GLOBAL ELECTRIC VEHICLE COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
TABLE 16 GLOBAL BATTERY PACK MARKET, BY COMPONENT, $M (2017-2025)
TABLE 17 GLOBAL ELECTRIC VEHICLE COMPONENT MARKET, BY END USE, $M (2017-2025)
TABLE 18 GLOBAL ELECTRIC VEHICLE COMPONENT MARKET, BY REGION, $M (2017-2025)
TABLE 19 NORTH AMERICA ELECTRIC VEHICLE COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
TABLE 20 NORTH AMERICA BATTERY PACK MARKET, BY COMPONENT, $M (2017-2025)
TABLE 21 NORTH AMERICA ELECTRIC VEHICLE COMPONENT MARKET, BY END USE, $M (2017-2025)
TABLE 22 EUROPE ELECTRIC VEHICLE COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
TABLE 23 EUROPE BATTERY PACK MARKET, BY COMPONENT, $M (2017-2025)
TABLE 24 EUROPE ELECTRIC VEHICLE COMPONENT MARKET, BY END USE, $M (2017-2025)
TABLE 25 EUROPE ELECTRIC VEHICLE COMPONENT MARKET, BY COUNTRY, $M (2017-2025)
TABLE 26 APAC ELECTRIC VEHICLE COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
TABLE 27 APAC BATTERY PACK MARKET, BY COMPONENT, $M (2017-2025)
TABLE 28 APAC ELECTRIC VEHICLE COMPONENT MARKET, BY END USE, $M (2017-2025)
TABLE 29 APAC ELECTRIC VEHICLE COMPONENT MARKET, BY COUNTRY, $M (2017-2025)
TABLE 30 ROW ELECTRIC VEHICLE COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
TABLE 31 ROW BATTERY PACK MARKET, BY COMPONENT, $M (2017-2025)
TABLE 32 ROW ELECTRIC VEHICLE COMPONENT MARKET, BY END USE, $M (2017-2025)
TABLE 33 ROW ELECTRIC VEHICLE COMPONENT MARKET, BY COUNTRY, $M (2017-2025)
TABLE 34 LIST OF PLAYERS AND THEIR OFFERINGS
TABLE 35 COMPETITIVE BENCHMARKING OF KEY PLAYERS
TABLE 36 ROBERT BOSCH GMBH - AT A GLANCE
TABLE 37 ROBERT BOSCH GMBH - KEY FINANCIAL SUMMARY
TABLE 38 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD. - AT A GLANCE
TABLE 39 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD. - KEY FINANCIAL SUMMARY
TABLE 40 PANASONIC CORP. - AT A GLANCE
TABLE 41 PANASONIC CORPORATION - KEY FINANCIAL SUMMARY
TABLE 42 SIEMENS AG - AT A GLANCE
TABLE 43 SIEMENS AG - KEY FINANCIAL SUMMARY
TABLE 44 DENSO CORP.- AT A GLANCE
TABLE 45 DENSO CORP. - KEY FINANCIAL SUMMARY
TABLE 46 LG CHEM LTD. - AT A GLANCE
TABLE 47 LG CHEM LTD. - KEY FINANCIAL SUMMARY
TABLE 48 TESLA INC. - AT A GLANCE
TABLE 49 TESLA INC. - KEY FINANCIAL SUMMARY
TABLE 50 HITACHI LTD. - AT A GLANCE
TABLE 51 HITACHI LTD. - KEY FINANCIAL SUMMARY
TABLE 52 ABB LTD. - AT A GLANCE
TABLE 53 ABB LTD. - KEY FINANCIAL SUMMARY
TABLE 54 SAMSUNG SDI CO. LTD. - AT A GLANCE
TABLE 55 SAMSUNG SDI CO. LTD. - KEY FINANCIAL SUMMARY
TABLE 56 BYD CO. LTD. - AT A GLANCE
TABLE 57 BYD CO. LTD. - KEY FINANCIAL SUMMARY
TABLE 58 MITSUBISHI ELECTRIC CORP. - AT A GLANCE
TABLE 59 MITSUBISHI ELECTRIC CORP. - KEY FINANCIAL SUMMARY
TABLE 60 LG INNOTEK CO. LTD. - AT A GLANCE
TABLE 61 LG INNOTEK CO. LTD. - KEY FINANCIAL SUMMARY
TABLE 62 OPTIMUMNANO ENERGY CO. LTD. - AT A GLANCE

List of Figures
FIG 1 RESEARCH SCOPE
FIG 2 RESEARCH METHODOLOGY
FIG 3 BREAKDOWN OF PRIMARY RESEARCH BY REGION
FIG 4 BREAKDOWN OF PRIMARY RESEARCH BY INDUSTRY PARTICIPANT
FIG 5 BREAKDOWN OF PRIMARY RESEARCH BY COMPANY TYPE
FIG 6 RESEARCH METHODOLOGY
FIG 7 DATA TRIANGULATION APPROACH
FIG 8 GLOBAL ELECTRIC VEHICLE COMPONENT MARKET SUMMARY
FIG 9 VALUE CHAIN ANALYSIS OF ELECTRIC VEHICLE COMPONENT MARKET
FIG 10 BARGAINING POWER OF BUYERS
FIG 11 BARGAINING POWER OF SUPPLIERS
FIG 12 INTENSITY OF RIVALRY
FIG 13 THREAT OF NEW ENTRANTS
FIG 14 THREAT OF SUBSTITUTES
FIG 15 GLOBAL ELECTRIC TWO-WHEELER COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
FIG 16 NORTH AMERICA ELECTRIC TWO-WHEELER COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
FIG 17 EUROPE ELECTRIC TWO-WHEELER COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
FIG 18 APAC ELECTRIC TWO-WHEELER COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
FIG 19 ROW ELECTRIC TWO-WHEELER COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
FIG 20 GLOBAL ELECTRIC VEHICLE COMPONENT MARKET SNAPSHOT
FIG 21 GLOBAL ELECTRIC VEHICLE COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
FIG 22 GLOBAL BATTERY PACK MARKET, BY COMPONENT, $M (2017-2025)
FIG 23 GLOBAL ELECTRIC VEHICLE COMPONENT MARKET, BY END USE, $M (2017-2025)
FIG 24 GLOBAL ELECTRIC VEHICLE COMPONENT MARKET, BY REGION, $M (2017-2025)
FIG 25 NORTH AMERICA ELECTRIC VEHICLE COMPONENT MARKET SNAPSHOT
FIG 26 NORTH AMERICA ELECTRIC VEHICLE COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
FIG 27 NORTH AMERICA BATTERY PACK MARKET, BY COMPONENT, $M (2017-2025)
FIG 28 NORTH AMERICA ELECTRIC VEHICLE COMPONENT MARKET, BY END USE, $M (2017-2025)
FIG 29 EUROPE ELECTRIC VEHICLE COMPONENT MARKET SNAPSHOT
FIG 30 EUROPE ELECTRIC VEHICLE COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
FIG 31 EUROPE BATTERY PACK MARKET, BY COMPONENT, $M (2017-2025)
FIG 32 EUROPE ELECTRIC VEHICLE COMPONENT MARKET, BY END USE, $M (2017-2025)
FIG 33 EUROPE ELECTRIC VEHICLE COMPONENT MARKET, BY COUNTRY, $M (2017-2025)
FIG 34 APAC ELECTRIC VEHICLE COMPONENT MARKET SNAPSHOT
FIG 35 APAC ELECTRIC VEHICLE COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
FIG 36 APAC BATTERY PACK MARKET, BY COMPONENT, $M (2017-2025)
FIG 37 APAC ELECTRIC VEHICLE COMPONENT MARKET, BY END USE, $M (2017-2025)
FIG 38 APAC ELECTRIC VEHICLE COMPONENT MARKET, BY COUNTRY, $M (2017-2025)
FIG 39 ROW ELECTRIC VEHICLE COMPONENT MARKET SNAPSHOT
FIG 40 ROW ELECTRIC VEHICLE COMPONENT MARKET, BY COMPONENT, $M (2017-2025)
FIG 41 ROW BATTERY PACK MARKET, BY COMPONENT, $M (2017-2025)
FIG 42 ROW ELECTRIC VEHICLE COMPONENT MARKET, BY END USE, $M (2017-2025)
FIG 43 ROW ELECTRIC VEHICLE COMPONENT MARKET, BY COUNTRY, $M (2017-2025)
FIG 44 GLOBAL ELECTRIC VEHICLE BATTERY MARKET SHARE OF KEY PLAYERS (2018)
FIG 45 GLOBAL ELECTRIC VEHICLE MOTOR AND CONTROLLER MARKET SHARE OF KEY PLAYERS (2018)
FIG 46 ROBERT BOSCH GMBH - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2018)
FIG 47 PANASONIC CORPORATION - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2018)
FIG 48 SIEMENS AG - REVENUE SPLIT BY SEGMENT, DIVISION, AND GEOGRAPHY (2018)
FIG 49 DENSO CORP. - REVENUE SPLIT BY GEOGRAPHY (2018)
FIG 50 TESLA INC. - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2018)
FIG 51 HITACHI LTD. - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2018)
FIG 52 ABB LTD. - REVENUE SPLIT BY DIVISION AND GEOGRAPHY (2018)
FIG 53 SAMSUNG SDI CO. LTD. - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2018)
FIG 54 BYD CO. LTD. - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2018)
FIG 55 MITSUBISHI ELECTRIC CORP. - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2018)
FIG 56 LG INNOTEK CO. LTD. - REVENUE SPLIT BY DIVISION (2018)
Note: Product cover images may vary from those shown
  • Robert Bosch GmbH
  • Contemporary Amperex Technology Co. Ltd.
  • Panasonic Corp.
  • Siemens AG
  • DENSO Corp.
  • LG Chem Ltd.
  • Tesla Inc.
  • Hitachi Ltd.
  • ABB Ltd.
  • Samsung SDI Co. Ltd.
  • BYD Co. Ltd.
  • Mitsubishi Electric Corp.
  • LG Innotek Co. Ltd.
  • OptimumNano Energy Co. Ltd.
Note: Product cover images may vary from those shown

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