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European Electric Vehicle Motor Market Size, Share And Forecast 2019-2025

European Electric Vehicle Motor Market Size, Share And Forecast 2019-2025

Submitted by • May 20, 2020 www.omrglobal.com

European electric vehicle motor market is anticipated to grow at a CAGR of more than 20% during the forecast period, 2019-2025. In 2019, Europe was among the highest growing market of electric vehicles globally as a downfall in electric vehicle sales was registered in the US, and Japan. As per the European Automobile Manufacturers Association, around 564,000 electric cars were sold in Europe with a growth of 45.5% YoY in 2019. It provides a significant opportunity for the EV automakers to construct a new EV plant in the country.

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