Global xEV Systems Demand Forecast for 2022–2031

xEV production is forecast to grow at a CAAGR of 13%, with volumes reaching 59.2 million units by 2031. The corresponding xEV powertrain electronics systems demand is forecast to grow at a CAAGR of 19% from $45.6 billion in 2023 to $108.0 billion in 2028 and reach $137.2 billion by 2031.

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