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Electric vehicles (EV) are slowly gaining popularity among consumers and the industry is expected to expand further in
the future. Global EV production is expected to increase to 23.7 million units in 2025 from 10.1 million units in 2019, a
CAGR of 15%. EV are preferred since the vehicles operate using electricity which is cleaner and cheaper than petrol.
Passenger vehicles is the most attractive EV segment, accounting for 57% of the total EV production in 2019. The study
found that within the passenger EV segment, BEV will be the fastest growing segment and has the lowest entry barriers
for new suppliers of components and parts.
China and Japan have vibrant markets for EV components and parts in terms of the size of industry players, new EV models
being planned and government support to drive the industry growth. For China, the battery electric vehicles (BEV) market
has been identified as the most attractive segment for EV rubber parts as emerging OEMs in the country do not have an
established network of suppliers hence, are relatively open for new entrants. In Japan, the full hybrid segment presents
bigger opportunities. However, getting access into the supply chain of Japanese OEMs of hybrid vehicles could be
challenging to Malaysian exporters of rubber products.
This report provides comprehensive information on the overall demand for rubber automotive parts in EV and the specific
applications of the rubber products in the vehicles. The supply channels of EV components and parts in both China and
Japan with case studies of major OEMs are presented in details in this report to guide Malaysian companies in entering
the industry. The information includes the OEMs’ current sources of supply, technical and commercial requirements.
Publication Date:22 October 2019
Category/Type: Market Reports/PDF
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