The Europe Electric Powertrain Market would witness market growth of 13.6% CAGR during the forecast period (2020-2026). Europe is one of the most prominent regions in the adoption of electric vehicles and is also witnessing a sharp decline in sales of electric vehicles. The European region is made up of countries that are among the worst hit countries, such as Italy, Spain and Germany, in the COVID-19 scenario. European automotive makers are shutting their manufacturing facilities on a provisional basis owing to health concerns of workers and falling demand.
The transition from conventional internal combustion engines in conventional cars to electric vehicles, with a view to developing a sustainable future, will increase demand for e-powertrain in the coming years. Automotive technologies are shifting from conventional gasoline engines to electric vehicle powertrain technologies, living up to the expectations of a sustainable regime. The growing trend of beginning a low-carbon environment with a new solution to the ward of global warming and making the most of various forms of energy has contributed to the development of electric vehicles.
The EV market uses inverters and electric motors such as plug-in hybrids, battery power, fuel cell electric and e-vehicles. The development of an environmentally friendly and efficient powertrain with innovative E-performance technologies is the primary technology that has attracted stakeholders to the new market scenario. Replacement of gasoline-powered internal combustion engines for a lightweight, low vibration and instant torque generator is extremely necessary. E-powertrain delivers smooth, high-quality and responsive drives.
Based on Electric Vehicle Type, the market is segmented into BEV and HEV/PHEV. Based on Component, the market is segmented into Battery, Transmission, Converter, Power Electronics Controller, On-board Charger, Motor/Generator and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Electric Powertrain Market in Europe is expected to register a CAGR of 13.6% during the forecast period (2020-2026)
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, Mitsubishi Electric Corporation, Magna International, Inc., ZF Friedrichshafen AG, Valeo SA, Nidec Corporation, Continental AG, Hitachi, Ltd., BorgWarner, Inc., and Schaeffler AG.
Market Segmentation:
By Electric Vehicle Type
By Component
By Country
Companies Profiled
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