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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.
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.
Why the demand for BEV oil-based EDU is surging?
The BEV oil-based EDU segment will exceed USD 10 billion by 2032, primarily due to the rapid growth of the electric vehicle (EV) sector and stringent emissions regulations.
What is the worth of the Europe oil based electric drive unit market?
Europe oil based electric drive unit (EDU) industry size was worth USD 3.2 billion in 2023 and will achieve a 24.8% CAGR between 2024 and 2032, driven by the increasing demand for energy-efficient and high-performance automotive technologies.
Which leading companies are operating in the Europe oil based electric drive unit market?
Some of the prominent players operating in the Europe oil based electric drive unit (EDU) industry are AVL, BorgWarner, Bosch, Dana TM4, ElringKlinger, Equipmake, FRIWO, GKN Automotive, hofer powertrain, Integral Powertrain, LG Magna e-Powertrain, Magna International, MAHLE, Nidec, Punch Powertrain, Saietta Group, Schaeffler, Vitesco Technologies, Voith, and ZF, among others.
How big is the Germany oil based electric drive unit (EDU) market?
Germany oil based electric drive unit industry will accumulate USD 7 billion by 2032, owing to its strong automotive industry and leadership in automotive technology advancements.