The European automotive motor market is projected to grow at a significant CAGR of 9.1% during the forecast period. The key factors that drive the European automotive motor market include the establishment of leading automotive manufacturers in the region. The prominent automotive players in the region include Daimler AG, Groupe PSA, Volkswagen AG, BMW AG, Audi AG, Jaguar Land Rover Ltd., and Groupe Renault among others which are creating a significant demand for automotive motor for their vehicles. These companies also export a significant number of automobiles all across the globe creating a demand for automotive motors in the region.
Browse the full report description of "Europe Automotive Motors Market Size, Share & Trends Analysis Report by Type (Brushless DC Motor & Stepper Motor, Brushed DC Motor, AC Induction Motor, and Others), By Vehicle Type (Passenger Vehicles, Commercial Vehicles, and Electric Vehicles) and by Distribution Channel (OEM and Aftermarket) Forecast, 2020-2026" at https://www.omrglobal.com/industry-reports/europe-automotive-motors-market
Further, some other factors that drive the growth of the European automotive motors market include the cohesive rules and regulations enforced by the governments regarding the safety and pollution that encourage manufacturers to produce efficient environmentally-friendly vehicles. National, as well as state governments in the European countries, are offering various subsidies to promote the electric vehicle industry in the region. The governments have set targets to ban on gasoline engines, imposed additional taxes on polluting vehicles, providing subsidies to buy electric vehicles, & additional subsidies to leave the gasoline engine vehicle while purchasing EV. Moreover, subsidies for the development of charging infrastructure for EVs are also offered by the government in the region which drives the electric vehicle market and thus the automotive motor market.
Market Coverage
Key questions addressed by the report
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected region/segment
Europe Automotive Motor Market – Segmentation
By Type
By Vehicle Type
o Light Commercial Vehicles (LCVs)
o Heavy Commercial Vehicles (HCVs)
o Others (Buses & Coaches)
o Battery Electric Vehicles (BEVs)
o Plug-in Electric Vehicles (PEVs)
o Hybrid Electric Vehicles (HEVs)
By Distribution Channel
Europe Automotive Motor Market – Segmentation by Region
Europe
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