The EV powertrain market in Europe is expected to grow from US$ 5.27 Bn in 2018 to US$ 13.37 Bn by the year 2027. This represents a CAGR of 11.0% from the year 2019 to 2027.
The automotive industry is expanding at a rapid rate over the years across the globe. Over the past years, cars have witnessed significant technological advancements, especially in the development of alternative technologies. The technologies, such as electric drive systems, are likely to hold a major share in the automotive sector. The engines are undergoing evolution, with new fuel economy and emission standards. Furthermore, the electrification of vehicles has been considered an advancement of automotive technology.
Key developments such as energy storage, electric motors, and power electronics, as well as the development of charging infrastructure, are expected to boost the market for electric vehicles. The most advanced engines are the hybrid engine. On the other hand, the battery-operated vehicles are expensive, and thus the demand for hybrid engines among the manufacturers is increasing. In hybrid engines, the normal fuel combustion engine is supported by an electric motor. The electric motor can operate individually, whereas the fuel combustion is used only when the electric motor is not charged, which in turn, reduces fuel consumption. Toyota, Lexus, BMW, Mitsubishi, Holden, Nissan, and Land Rover are the major players that offer hybrid models across the world. Thus, these technological advancements in conventional operations of cars are expected to drive the market for EV powertrains.
Europe EV Powertrain Strategic Insights
Strategic insights for the Europe EV Powertrain provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Europe EV Powertrain Report Scope
Attribute
Details
Market Size (2018)
US$ 5.27 Billion
Market Size (2027)
US$ 13.37 Billion
CAGR (2019–2027)
11.0%
Historical Data
2016–2017
Forecast Period
2019–2027
Segments by Product Type
Series Hybrid, BEV, Series-Parallel Hybrid, Mild Hybrid, Parallel Hybrid
Segments by Application
Passenger Cars, Commercial Vehicles
Regions Covered
UK, Germany, France, Russia, Italy, Rest of Europe
The geographic scope of the Europe EV Powertrain refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Europe EV Powertrain Market – Segmentation
Category
Segments
By Product Type
Series Hybrid Powertrain, Battery Electric Vehicle Powertrain, Series-Parallel Hybrid Powertrain, Mild Hybrid Powertrain, Parallel Hybrid Powertrain
By Application
Passenger Cars, Commercial Vehicles
By Country
France, Germany, UK, Sweden, Netherlands, Slovakia, Rest of Europe
Key Companies
Continental AG, Cummins Inc., Dana Limited, Magna International, Mahle GmbH, Maxim Integrated, Robert Bosch GmbH, Tata Elxsi, Valeo SA, ZF Friedrichshafen AG
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Author’s Bio Akshay Senior Market Research Expert at Business Market Insights
