Europe Automotive Power Assembly Market was valued at USD 10.5 Billion in 2022 and is projected to reach USD 15.0 Billion by 2030, growing at a CAGR of 4.8% from 2024 to 2030.
The European automotive power assembly market is undergoing a significant transformation, driven by the rapid shift towards electrification and the stringent emission regulations imposed by the European Union. As the industry navigates this transition, understanding the various types of power assemblies and the specific requirements from different sectors becomes crucial.
Types of Automotive Power Assemblies in Europe
Electric Drive Modules (EDMs): These integrate electric motors, power electronics, and transmission components into a single unit, enhancing efficiency and reducing weight. EDMs are pivotal in battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs).
Battery Packs: Serving as the energy source for electric vehicles, battery packs are composed of multiple cells configured to deliver the required voltage and capacity. Innovations in battery technology aim to increase energy density and reduce charging times.
Power Control Units (PCUs): These units manage the flow of electricity between the battery, motor, and other vehicle systems, ensuring optimal performance and energy efficiency.
On-Board Chargers (OBCs): OBCs allow vehicles to charge their batteries from external power sources, converting alternating current (AC) from the grid to direct current (DC) suitable for the battery.
Industry Requirements and Trends
Compliance with Emission Standards: The EU has implemented stringent COâ‚‚ emission targets, pushing manufacturers to adopt electrified powertrains. Recent adjustments provide a three-year flexibility period, easing fines for missing COâ‚‚ targets, allowing the industry to adapt to these regulations. citeturn0news24
Localization of Battery Production: To reduce reliance on external suppliers and mitigate geopolitical risks, Europe emphasizes local battery manufacturing. However, studies indicate that without proper regulations, Europe risks becoming merely an "assembly plant" for foreign battery makers. citeturn0news27
Technological Collaboration: Partnerships between automakers and technology firms are on the rise. For instance, Stellantis and Infineon are collaborating to enhance the power architecture of next-generation vehicles, focusing on advanced power management systems and silicon carbide semiconductors. citeturn0news29
Investment in Infrastructure: The expansion of charging networks and energy grids is vital to support the growing number of electric vehicles. This includes developing fast-charging stations and integrating renewable energy sources.
Workforce Development: As the industry shifts towards electrification, there is a pressing need for training programs to equip the workforce with skills in electric powertrain technologies and safety protocols.
In my experience attending industry conferences and engaging with automotive professionals, the consensus underscores the importance of a holistic approach. This involves not only advancing vehicle technologies but also ensuring that supporting infrastructure, regulatory frameworks, and workforce competencies evolve in tandem. Such a comprehensive strategy is essential for a successful transition to sustainable mobility in Europe.
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Ricardo
FEV
ThyssenKrupp
Horiba
Applus+ IDIADA
Intertek
IAV
MAE
A&D
IBAG
Atesteo
FAKT
CSA Group
KST
CRITT M2A
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Automotive Power Assembly Market
Electric Power Assembly
Hybrid Power Assembly
Internal Combustion Engine Power Assembly
Passenger Vehicles
Commercial Vehicles
Two-Wheelers
Electric Vehicles (EVs)
Electric Motors
Battery Packs
Transmission Systems
Control Units
Fuel Cells
Drivetrain Systems
Vehicle Stability Control Systems
Advanced Driver Assist Systems (ADAS)
Energy Management Systems
OEMs (Original Equipment Manufacturers)
Aftermarket Suppliers
Fleet Operators
Individual Consumers
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe Automotive Power Assembly Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Automotive Power Assembly Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Automotive Power Assembly Market, By Type
6. Europe Automotive Power Assembly Market, By Application
7. Europe Automotive Power Assembly Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Automotive Power Assembly Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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