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.
Currently, Germany is dominating the EV powertrain market in terms of installation, which in turn boosts the demand for the EV powertrain market in the region. Germany is one of the largest automotive hubs globally; most automobile manufacturers such as Audi AG, BMW AG, and Volkswagen AG, among others, are focusing on the production of electric vehicles, which leads to increased demand for the electric powertrain. According to the International Council on Clean Transportation, in 2018, the total number of electric vehicles produced in Germany was 205,000. Furthermore, with the aim of accomplishing the emissions reduction, energy independence, and technology ownership, German carmakers are accelerating the production volumes of electric vehicles. The figure given below highlights the revenue share of Rest of Europe in the Europe EV powertrain market in the forecast period:
Europe EV Powertrain Market - Segmentation
Europe EV Powertrain Market – By Product Type
Europe EV Powertrain Market – By Application
Europe EV Powertrain Market – By Country
Europe EV Powertrain Market -Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 5.27 Billion |
| Market Size by 2027 | US$ 13.37 Billion |
| CAGR (2019 - 2027) | 11.0% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe EV Powertrain Market is valued at US$ 5.27 Billion in 2018, it is projected to reach US$ 13.37 Billion by 2027.
As per our report Europe EV Powertrain Market, the market size is valued at US$ 5.27 Billion in 2018, projecting it to reach US$ 13.37 Billion by 2027. This translates to a CAGR of approximately 11.0% during the forecast period.
The Europe EV Powertrain Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe EV Powertrain Market report:
The Europe EV Powertrain Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe EV Powertrain Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe EV Powertrain Market value chain can benefit from the information contained in a comprehensive market report.
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