Automotive & Transportation Industry Electric vehicles Market Trends | Page 2

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Key players for Electric Vehicles market are JTEKT Corporation, Visteon Corporation, NSK ltd, Denso
Corporation, Friedrichshafen AG, BorgWarner Inc and Nexteer Automotive Group Ltd.
Largest Electric Power steering is expected to contribute for the major market share due to potential of
ensuring the safe and secure driving in vehicles from hydraulic power steering. This segment is further
estimated to provide low energy consumption ,better handling and reduced weight in vehicles which ultimately
gives a strong place to market of Electric Power Systems. North America is likely to witness major market share
due to its growth in vehicle market, rigorous norms for emissions, and government subsidize provided for
electric vehicles. Classification of Electric Vehicle Industry can be done on degree of hybridizatio n into Internal
Combustion Engine & micro hybrid vehicle, Battery electric vehicle, Fuel cell electric vehicle, plug in hybrid
electric vehicle and hybrid Electric vehicle.
Asia Pacific is expected to hold the significant growth with rising expansion of automotive industry in the area.
Increasing number of vehicles manufactured companies owing to its cheap cost production facilities may propel
industry growth in upcoming years. Hybrid Electric vehicle is likely to experience significant growth owing to its
capability in combining two dissimilar power sources like petrol/diesel and electric power.
Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/automotive-
and-transportation-industry
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