Market Revenue Electric Vehicle Plastics Market Research

Electric Vehicle Plastics Market Research Methodology,
Manufacturing Cost Analysis By 2025
“An electric vehicle uses one or more electric motors or traction motor for
propulsion. It may be powered via a collector system by electricity or may be
self-contained with a battery or generator to convert fuel into electricity.
These include road & rail vehicles, surface & underwater vessels, electric
aircraft & electric spacecraft.”
An Electric Vehicle uses one or more electric motors or traction motor for propulsion. It may be powered via a
collector system by electricity or may be self-contained with a battery or generator to convert fuel into
electricity. These include road & rail vehicles, surface & underwater vessels, electric aircraft & electric
spacecraft. On contrary, to traditional vehicles which possessed internal combustion engine (ICE) is now getting
blurred with usage of electric vehicles which run on conventional energy or electricity. With the growing
approach towards electric vehicles (EV), plastic materials play a pivotal role in helping to reduce carbon
emissions or dependence on petroleum. By using plastics in EV, the weight of the vehicle can be reduced upto
40%. Additionally, high performance polymers and elastomers are used to integrate components and functions.
The miniaturization helps in reducing space and improves packaging.
The major market drivers for the global electric vehicle plastics market share include strict emission norms &
regulations leading to minimizing weight of passenger cars& government initiatives to encourage adoption for
electric vehicles. Therefore, the electric vehicle plastics market share is estimated to grow at a higher CAGR
during the forecast period. However, a key factor restraining the market share is the lack of charging stations
for BEV operated vehicles & HEV operated vehicles. Thus, charging infrastructure is significant for the growth of
electric vehicles as in case of BEV and PHEV. On the basis of vehicle type, the global electric vehicle plastics
market share is segmented as BEV, HEV, PHEV. BEV segment is likely to dominate the global market share for
the forecast period owing to rising innovations, environmental concerns, strict emission regulation and norms.
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