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Europe Electric Drive Unit Market Size

Report ID: GMI8649
Published Date: Mar 2024
Report Format: PDF

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Europe Electric Drive Unit Market Size

Europe Electric Drive Unit Market was valued at USD 5.4 billion in 2023 and is envisioned to grow at a CAGR of 23.1% between 2024 and 2032. Rising adoption of electric vehicles along with increasing focus on EV performance & efficiency are key drivers shaping the product adoption worldwide. In addition, international efforts focused on regulating energy-efficient measures to diminish carbon footprints are poised to enhance the business prospects.

Europe Electric Drive Unit Market

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Expansion of the product into new applications including electric buses & commercial vehicles along with rising industrial automation & robotics will sway the product adoption. For instance, in September 2022, Robert Bosch launched an electric mobility solution for its commercial vehicles and commenced large-scale production of novel drive units tailored for light commercial vans and medium-sized trucks. Electric EDUs offer significant advantages for these applications, including reduced emissions and quieter operation, contributing to cleaner air quality in urban areas.

Europe Electric Drive Unit Market Report Attributes
Report Attribute	Details
Base Year:	2023
Europe Electric Drive Unit Market Size in 2023:	USD 5.4 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	23.1%
2032 Value Projection:	USD 34.7 Billion
Historical Data for:	2019 to 2023
No. of Pages:	320
Tables, Charts & Figures:	410
Segments covered:	Vehicle Type, Sales Channel, Coolant, & Country
Growth Drivers:	Increasing financial incentive and spending for supporting infrastructure Stringent emission norms coupled with transition towards low carbon vehicle
Pitfalls & Challenges:	Fluctuations in raw material availability along with operational complexities

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Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The European market for electric drive unit was reached USD 5.4 billion in 2023 and is envisioned to record a CAGR of 23.1% through 2032, attributed to rising adoption of electric vehicles along with increasing focus on EV performance & efficiency.

The BEV segment of Europe electric drive unit market is anticipated to surpass USD 18.1 billion by 2032, driven by increasing production capacity and enhancing battery technology.

Germany electric drive unit market revenue is estimated to exceed USD 10.1 billion by 2032, favored by government support for the adoption of EVs.

Aisin Corporation, AVL, BorgWarner Inc., C.F.R. Srl., DANA TM4 INC., ElringKlinger AG, Equipmake, FRIWO Gerätebau GmbH, GKN Automotive Limited, hofer powertrain, Integral Powertrain Limited, LG Magna e-Powertrain, Magna International Inc, Magnetic Systems Technology Limited, MAHLE Polska Sp. z o.o, Nidec Corporation, Punch Powertrain NV, and Robert Bosch GmbH.