Europe Automotive Vehicle Market

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Europe Automotive Vehicle Market
Europe Automotive Vehicle Market
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Europe Automotive Vehicle Market
According to the report by Renub Research, titled
Europe Automotive Vehicle Market Forecast
2021-2030, Share, Insight, Growth, Impact of
COVID-19, Opportunity Company Analysis the
Europe Automotive Vehicle Market size reached a
value of 15.49 Million Unites in 2020. The
European automotive industry continues to be a
huge success for increasingly time efficient,
safer, and more affordable. The automotive
vehicle industry is crucial for Europe's
prosperity. The European automobile industry has
a long tradition in development and production.
Among its specific attributes belong an
undoubtedly high level of technology, the
emphasis on safety, and greater sensitivity to
the environment. The automotive vehicle industry
has been one of the fastest-growing branches of
the manufacturing industry over the last decade
in Europe. Automotive Industry is one the
Biggest Employment Generator in Europe Further,
the EU is among the world's biggest producers of
motor vehicles, and the sector represents the
most significant private investor in research and
development (RD). To strengthen the
competitiveness of the EU automotive vehicle
industry and preserve its global technological
Europe Automotive Vehicle Market
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Europe Automotive Vehicle Market
leadership, the automobile industry is supported
by several factors such as the availability of
robust RD centers, skilled labor at low cost,
and low-cost steel production. As per European
Commission in 2021, the automotive vehicle sector
grants direct and indirect jobs to 13.8 Million
Europeans, representing 6.1 of total EU
employment. More than 2.6 Million People operate
in the direct manufacturing of motor vehicles,
representing 8.5 of EU employment in
manufacturing. Electric Vehicles are Future of
Automotive Industry in Europe The industry's
principal categories include Electric Vehicle
(EV), Hybrid Electric Vehicle (HEV), Plug-in
Hybrid Electric Vehicle (PHEV), Mild Hybrid
Electric Vehicle (MHEV), Natural Gas Vehicle
(NGV), Fuel Cell Electric Vehicle (FCEV), Diesel
Vehicle and Petrol Vehicle. The Mild Hybrid
Electric Vehicle represents a technological leap
in the European automotive vehicle market. MHEVs
bring higher efficiency and lower running costs
to flaming engines and could therefore provide
promising opportunities for suppliers, OEMs, and
customers until electric power train becomes
ubiquitous. Also, European consumers' new habit
of using tailored solutions for each purpose will
lead to specialized vehicles designed for
particular necessities.
Europe Automotive Vehicle Market
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Europe Automotive Vehicle Market
Furthermore, the adoption of plug-in electric
vehicles ((PHEV) in Europe is actively encouraged
by the European Union and several national,
provincial, and regional governments in Europe.
Various policies have been built to accommodate
direct financial support to customers, subsidies
for the deployment of charging infrastructure-mone
tary incentives and manufacturers and long term
regulations with specific targets. As per
findings, Europe wills registration new plug-in
hybrid electric vehicles (PHEVs) under 200,000
units in 2021. COVID-19 Impact on European
Automotive Industry The impact of COVID-19 has
been widely visible across all the automotive
vehicle industries around Europe. Although some
sectors are struggling due to the pandemic, the
automotive vehicle industry has seen a massive
fall in demand for new cars during the lockdown
period, and it is also due to travel
restrictions. The corona virus (COVID-19)
pandemic has brought the decade of expansion in
the European automotive industry to an abrupt
standstill.
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Europe Automotive Vehicle Market
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Europe Automotive Vehicle Market
While, there have been more job cuts behind the
sector, with plants and suppliers closing down in
countries where the sales are slowest to
recover. Companies Performance In addition, the
European automotive vehicle market is moderately
consolidated with existing players such as Toyota
Motor Volkswagen, Corporation, Daimler AG, Ford
Motor Company and Honda Motor Company. As the
demand for the automotive vehicle is growing in
the region, the automotive manufacturers are
trying to edge over their competitors by making
joint ventures, partnerships and launching new
products with advanced technology. For instance,
in 2021, the Volkswagen brand plans to double the
share of full-electric vehicles more than will
have in its European sales by 2030, in a bid to
accelerate the automaker's shift toward
battery-powered cars.
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Europe Automotive Vehicle Market
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Europe Automotive Vehicle Market

• Market Summary
• By Category Report covers by category in the
  European automotive vehicle market breakup by 8
  viewpoints
• (Electric Vehicle (EV),
• Hybrid Electric Vehicle (HEV),
• Plug-in Hybrid Electric Vehicle (PHEV),
• Mild Hybrid Electric Vehicle (MHEV),
• Natural Gas Vehicle (NGV),
• Fuel Cell Electric Vehicle (FCEV),
• Diesel Vehicle and Petrol Vehicle)
• All the key players have been covered from 3
  (Overview, Recent Development, Revenue Analysis
  Viewpoints Volkswagen, Toyota Motor Corporation,
  Daimler AG, Ford Motor Company and Honda Motor
  Company)

Europe Automotive Vehicle Market
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Europe Automotive Vehicle Market
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Europe Automotive Vehicle Market