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.
The Europe EV Powertrain Market is growing along with the Automotive and Transportation industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
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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.
These factors are expected to offer broad growth opportunities in the Automotive and Transportation industry and this is expected to cause the demand for Europe EV Powertrain Market in the market.
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Europe EV Powertrain Market – Segmentation
Europe EV Powertrain Market – By Product Type
- Series Hybrid Powertrain
- Battery Electric Vehicle Powertrain
- Series-Parallel Hybrid Powertrain
- Mild Hybrid Powertrain
- Parallel Hybrid Powertrain
Europe EV Powertrain Market – By Application
- Passenger Cars
- Commercial Vehicles
Europe EV Powertrain Market – By Country
- Rest of Europe
Europe EV Powertrain Market -Companies Mentioned
- 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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