Vehicle Electrification Market Insights, Trends, Opportunity & Forecast|KDMI

The growth of this market is attributed towards major relying factors including; the growth in adoption of fuel-efficient mobility solution along with effective performance requirements in the automotive industry, the declining prices of batteries per KWH, the advent of newer technologies in electric vehicles, rise in demand for EVs and the displacement of conventional components with electric propulsion in the automobiles, growing number of strict environmental regulations and government initiatives regarding vehicle emission norms, the increasing need for 48v architecture, the rapidly shifting of automobiles from hydrocarbon energy to electrical energy due to scarcity of resources such as oil for use in the future, the development of new intelligent transport systems and the growing environmental awareness leading to increased demand for eco-friendly vehicles etc.

Leave a Reply

Your email address will not be published. Required fields are marked *