- Get in Touch with Us
Last Updated: Apr 25, 2025 | Study Period: 2024-2030
Electric cars (EV) are gradually has become part of modern society; its excellent fuel efficiency, environmental, and pleasant driving experience have piqued the interest of many environmentally aware modern customers.
EVs are not the same as typical automobiles powered by internal combustion engines. The two groups differ in many ways, from the underlying mechanism and working principle to usage and maintenance procedures.
Recognizing such distinctions should ideally have been the first step in a customer determining their enthusiasm in EVs.
This same electric vehicle has been the only source of energy to propel the car's wheels in a series hybrid. The automobile, as the name implies, operates on an electric motor until the battery output falls below a particular level, during which point the gasoline engine powers in to power a motor/generator that drives the car.
In an instalment HEV system, the engines can then either drive the tires immediately or be effectively removed from the tires, as in a series drivetrain, so that only the electric motor powers the wheels.
This dual powertrain performs more like a series vehicle at lower speeds, but at higher speeds, when the series powertrain is less economical, the engine takes control and energy waste is minimized.
Massive battery packages made up of multiple of cells put in the vehicle and providing roughly 400 V of electricity are used to power the electric engines.
A battery management system (BMS) manages and monitors the battery packs, and they are charged via an on-board AC/DC conversion modules, with voltages ranging from 110 V single-phase to 380 V three-phase systems.
To know more about Global 800 V EV Components Market, read our report
| S No | Overview of Development | Development Detailing | Region of Development | Possible Future Outcomes |
| 1 | Minda Industries forms JV with Germany's FRIWO for manufacturing EV components | Auto components maker Minda Industries Ltd (MIL) has entered the JV with FRIWO AG Germany for the next 6 years. | Europe - Germany | This would enhance better Technologies and production |
| Sr. No. | Timeline | Company | Updates |
| 1 | January 2022 | BYD Co. and Noro | BYD Co., Ltd. partnered with leading autonomous vehicle company Noro to begin producing the companyâs third-generation electric autonomous delivery vehicle. The partnership is expected to scale Noro's more affordable, eco-friendly, and convenient services to millions of people across the country. |
| 2 | July 2021 | Renault and BorgWarner | Renaultâs Alpine F1 Team entered into a partnership with BorgWarner to identify technologies and technical collaborations for future Alpine electric models. |
| 3 | February 2021 | BorgWarner Inc. acquired AKASOL AG | BorgWarner Inc. and AKASOL AG signed a Business Combination Agreement (âBCAâ) to position BorgWarner to significantly expand its commercial vehicle electrification capabilities. As part of the agreement, a wholly-owned subsidiary of BorgWarner will launch a voluntary public takeover offer at â¬120.00 per share in cash for all outstanding shares of AKASOL. |
| 4 | April 2020 | Contemporary Ampere Technology Co. Limited | Contemporary Ampere Technology Co. Limited expanded partnerships with VDL Bus & Coach B.V. and Quotron AG to optimize local product solutions and services for commercial vehicle electrification in Europe. The new partnerships were significant to CATLâs overseas strategy in the commercial vehicle business sector, as they enabled it to develop a comprehensive and vibrant network for large OEMs and SMEs. |
The power management system is an essential component of overall Hybrid vehicles and EV design. It must not only lengthen the battery's life, but it can also increase the vehicle's probable range.
The capacitors State of Health (SoH), State of Charge (SoC), and Depth of Discharge (DoD) are continually monitored.
To ensure the extended service battery life, an inbuilt battery management and security system regulates battery condition while charging and draining. All of the components required for voltage and power monitoring, communication isolation, and security management are integrated into battery monitoring equipment.
The industry is being pushed by additional government activities to promote electric vehicle adoption, a greater emphasis on extending electric car charging stations, and a rising desire for public fleet digitalization.
Electric cars have an electric motor that propels the vehicle. These cars are divided into two types: battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV) (PHEV).
A BEV is a zero-emission automobile that is powered only by a battery and an electrically powered motor, rather than an internal combustion engine (ICE).
The batteries may be replenished by plugging it into a power outlet. Government interventions such as pushing electric vehicles to reduce pollution from conventional vehicles are driving significant growth in the electric vehicle component industry.
People are gravitating toward e-vehicles as pollution levels rise and the cost of fossil fuels rises, resulting in explosive development in the electrical vehicles component industry. The use of a basic DC motor decreases vehicle maintenance costs, which is a primary driving force in the electric car component industry.
For its electric-vehicle motor business, Schaeffler has struck an agreement to assure the supply of rare earth magnets from Europe.
It's the first time a European auto supplier or automaker has agreed to source rare earths from within the region. Rare earth metals like as neodymium, which are utilized in the majority of permanent magnet electric motors produced today, are now controlled by China.
As it works for carbon neutrality, the EU is attempting to reduce its reliance on China for metals, which are also used in wind turbines.
Retek of Norway has agreed to supply Schaeffler with rare earth oxides for a five-year period.
Daimler, Volkswagen Group, Volvo, ZF Friedrichshafen, and Robert Bosch are among the automakers and suppliers ramping up production to help Europe's electrification effort.
As it prepares to roll out more vehicles from its EQ sub brand, Daimler has begun manufacturing of its full-electric EQC SUV in Bremen, Germany, and will soon begin production of batteries at German plants in Sindelfingen and Untertuer kheim, as well as Jawar, Poland.
The EQV van, which will be constructed in Vitoria, Spain, will be part of the lineup extension.
Volvo has begun production of the plug-in hybrid version of the XC40 in Ghent, Belgium, where a full-electric version of the compact SUV is also due. Volvo's factory in Troland, Sweden, produces the V60, XC60, V90, XC90 plug-in hybrids and the XC60, XC90 mild hybrids.
ZF Friedrichshafen is rapidly emerging into a significant actor in Europe's electrification shift on the supplier front.
Electric motors for plug-in hybrids from Audi, BMW, Porsche, VW, and Volvo, as well as electric axle drives for Daimler's battery-powered models, are manufactured in Schweinfurt, Germany.
The Europe EV Components Market can be segmented into following categories for further analysis.
| Sr. No. | Timeline | Company | Updates |
| 1 | November 2021 | Hitachi | Hitachi, Ltd. and Hitachi Asteco, Ltd announced the development of an in-wheel motor for EVs as with the increase in urgency of realizing a decarbonized economy, the importance of electric vehicles (EVs) has also propelled, as they do not emit carbon dioxide when in motion. |
| 2 | April 2021 | Toyota | Toyota Motor Corporation announced Toyota Baz, its newly established series of battery electric vehicles (BEVs), in establishment of a full line-up of electrified vehicles. |
| 3 | November 2020 | Nidec | Japan's Nidec announced to spend about 200 billion yen ($1.9 billion) to build an electric vehicle motor factory in Serbia as the company looks to expand its foothold in Europe. |
In the twentieth century, battery technology the electrical systems which maintain EVs running and safe and electric motor efficiency were limiting elements that pushed against EV development.
Continuous advancements in each of these breakthroughs, such as the development of lithium-ion batteries, cleared the path for a significant increase in EV development and customer adoption.
New materials, like as silicon carbide, have permitted breakthroughs in legacy silicon technology, promising much more for boosting EV economy and power use.
There has been a much-required technology being focused upon the Motor technologies in the market. This electric motor is predicated on a revolutionary architecture known as TSRF (Trapezoidal Stator Radial Flux).
The first versions of the industry's lightweight and small TSRF motor have been created and tested effectively. In collaboration with automotive OEMs and Tier 1s, EVR anticipates that their innovative motor technology will be adaptable to a broad spectrum of products.
Later this year, a manufacturing motor will be released to the worldwide market. The innovative motor becomes less than halfway the physical size of current framework RFPM (Radial Flux Permanent Magnet) motors of comparable power.
Improved power and torque densities, and also lower production costs, will be possible with the TSRF motor architecture.
The neodymium-based actuators outperform traditional RFPM motors while being much less expensive. The business claims that when supplied in low-cost, rear-earth-free, Ferrite-based variants, the new motor surpasses induction motors in a comparable price range.
EVR has tested an experimental traction powertrain intended for two - dimensional and three electric vehicles.
The air-cooled motors outperformed other compact, air-cooled radial flux motors by delivering best-in-class peak power of 17 â 18 kW and torque of 40 Nm from a 2-liter capacity carrying just 9 Kg.
| Sr. No. | Timeline | Company | Sales |
| 1 | Q4-2021 (Ended September 2021) | Robert Bosch | Boschâs net sales were Rs 2,917.97 crore in September 2021, up 17.7% from Rs. 2,479.18 crore in September 2020 while Quarterly Net Profit stood at Rs. 372.18 crore in September 2021, up 681.89% from Rs. 63.96 crore in September 2020. |
| 2 | Q3-2021 | BYD | For Q3 2021, BYD reported operating revenue of 54.306 billion RMB (US$8.5 billion) in Q3 2021, a YoY increase of 21.98%. |
| 3 | H1-2021 | ZF | In contrast to the first half of 2020, which was significantly impacted by the Covid-19 pandemic, ZF generated sales of â¬19.3 billion ($ 21.7 B) [2020: â¬13.5 billion ($ 15.23 B)] in the first six months of this year. Year over year, this corresponds to a sales increase of 43 percent. Adjusted EBIT stood at â¬1.0 billion ($ 1.12 B) [2020: minus â¬177 million ($ 132 M)]. The positive business development contrasts with an overall difficult and volatile international market environment. |
| 4 | Q3-2021 | BorgWarner | BorgWarnerâs net sales were $3,416 million for the third quarter 2021, up 35% from $2,534 million for the third quarter 2020, as the acquisition of Delphi Technologies and increased demand for the Companyâs products more than offset the decline in industry production. |
Advances in fuel economy, conformity with pollution standards, and worldwide environmental safety protocols are now becoming necessary criteria for today's cars.
Various firms are operating as effective system offering electric powertrains for electric and hybrid and other electric cars to assist satisfy these developing criteria for sustainable transportation.
Electric propulsion systems are growing smaller and lighter as cars improve, while increasing conversion efficiency. These will continue to develop in order to provide worldwide transportation that is consistent with the ecosystem.
Hitachi Automotive Systems Limited is a leading developer of the electric vehicle components in the market. They are focused on providing a large-scale integration of technologies.
It has been improvising various High performance Control Circuits for EVs in the market. Onboard converters necessitate high-performance vector control functions that make advantage of changing voltage, current, and switching frequency as required by the fundamental operations of the electric motor to begin, pick up speed, and halt.
Such converters must also possess superior, high-speed communication, outlier detection, voltage protection, malfunction diagnostics, and functional safety through Controller Area Network (CAN) or Flex Ray.
It has also been focusing on the design optimizations of the motor requirements in the EVs. For the armature winding on the basic motor, wave winding with square wire was used to achieve minimal size and high torque density.
ZF has been part of the EV axle improvisations in the market. It has developed the Electric Axle Drive rated at 150 kW in the market.
A proposal for ecologically sustainable driving by using motor shaft as a center of the machine and constructing a shared central enclosure with either a covering on the gearbox and electric motors sides leads in a number of practical improvements.
The reduction of ZF electric axle drives' bushings and connections leads in improved performance in terms of power consumption and modulation index.
In line with the required specifications, ZF designs, fine-tunes, and tests the axle, along with the electrical motor. Depending on the application, numerous axle types might be utilized in the procedure. ZF offers a customizable rear axle design based on critical customer specifications for this function.
| Sl no | Topic |
| 1 | Market Segmentation |
| 2 | Scope of the report |
| 3 | Abbreviations |
| 4 | Research Methodology |
| 5 | Executive Summary |
| 6 | Introduction |
| 7 | Insights from Industry stakeholders |
| 8 | Cost breakdown of Product by sub-components and average profit margin |
| 9 | Disruptive innovation in the Industry |
| 10 | Technology trends in the Industry |
| 11 | Consumer trends in the industry |
| 12 | Recent Production Milestones |
| 13 | Component Manufacturing in US, EU and China |
| 14 | COVID-19 impact on overall market |
| 15 | COVID-19 impact on Production of components |
| 16 | COVID-19 impact on Point of sale |
| 17 | Market Segmentation, Dynamics and Forecast by Geography, 2024-2030 |
| 18 | Market Segmentation, Dynamics and Forecast by Product Type, 2024-2030 |
| 19 | Market Segmentation, Dynamics and Forecast by Application, 2024-2030 |
| 20 | Market Segmentation, Dynamics and Forecast by End use, 2024-2030 |
| 21 | Product installation rate by OEM, 2023 |
| 22 | Incline/Decline in Average B-2-B selling price in past 5 years |
| 23 | Competition from substitute products |
| 24 | Gross margin and average profitability of suppliers |
| 25 | New product development in past 12 months |
| 26 | M&A in past 12 months |
| 27 | Growth strategy of leading players |
| 28 | Market share of vendors, 2023 |
| 29 | Company Profiles |
| 30 | Unmet needs and opportunity for new suppliers |
| 31 | Conclusion |
| 32 | Appendix |
© 2017-2025 Mobility Foresights Pvt Ltd. All rights reserved.