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Europe Oil Based Electric Drive Unit Market Size
- Report ID: GMI11472
- Published Date: Sep 2024
- Report Format: PDF
Europe Oil Based Electric Drive Unit Market Size
Europe Oil Based Electric Drive Unit Market was valued at USD 3.2 billion in 2023 and will grow at a CAGR of 24.8% from 2024 to 2032. Increasing industrial automation along with increasing regulations around energy conservation is driving the market growth across the region.
Electric drive units are crucial in providing high torque and power density required by EVs, especially for heavy-duty or performance-focused vehicles. Oil-based drive units handle these demands efficiently, making them ideal for electric trucks, buses, and high-performance EVs, where mechanical strength and energy efficiency is required.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Europe Oil Based Electric Drive Unit Market Size in 2023: | USD 3.2 Billion |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR: | 24.8% |
| 2024 – 2032 Value Projection: | USD 23.7 Billion |
| Historical Data for: | 2021-2023 |
| No. of Pages: | 120 |
| Tables, Charts & Figures: | 15 |
| Segments covered: | Vehicle Type, Sales Channel, & Country |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Shifting focus towards integration in Hybrid Electric Vehicles (HEVs) along with the expansion of EV infrastructure across various countries including Norway, Germany, Netherlands, among others are further fuelling the business outlook. In addition, oil-based electric drive units help optimize energy management between the engine and electric motor, improving fuel efficiency and reducing emissions, making HEVs more attractive to consumers and regulators, thereby adding to the overall market growth.
Frequently Asked Questions (FAQ) :
Europe Oil Based Electric Drive Unit Market Scope
