The global automotive electric
system market is poised to display high growth with high CAGR in forthcoming
period. Internal combustion (IC) engines and progressive heavy electric vehicles
(PHEV) are losing out to battery driven automotive electric vehicles system
market that is gaining lost ground by advancements in electric engine models
and displaying exponential leverage in an otherwise static industry.
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Growth in automotive electric
system market include rise in electric vehicle charging stations that conduct a
fuel-free operation devoid of carbon gases and profit-maximization by the
increase in petroleum reserves. Automotive Electric System market is attributed
with faster acceleration, smooth transmission and is maintenance-free in
comparison to I.C engines adding to growth of automotive electric system
industry. AC charging stations are preferred over DC charging stations and are
projected to lead industry vertical attributing it to convenience, retrofit
engine and unnecessary encumbrances working on 120-230V home supply.
Hybrid automotive cars are an
offset of the electric automotive vehicles both electric and petrol pulling the
car. The petrol engine takes care of ignition power and uphill drives
ordinarily achieved in power-thrust, characteristic of petrol engines whereas
sedate speeds of forty on highways are accomplished by electric vehicle that
make do with less power. Public charging stations are gaining ground over
private charging stations with installations in taxi-stands, airports,
fast-food cafes, bistros and parking lots. Segmentation of automotive electric
systems market by type includes gasoline automotive, diesel automotive, hybrid
automotive, flex fuel automotive and others. Segmentation of automotive
electric system market by application includes passenger cars, commercial
vehicles and others.
By regions, automotive
electric system market includes North America, Europe, Asia pacific, MEA and
Latin America. Asia-Pacific market is leading industry growth in electric
vehicle charging station market due to necessary steps in restructuring society
by way of green zone. Copious investments by government in charging stations
that register low-carbon imprints and instruct progressive society living
enhances automotive electric system charging station. The key industrial
players in the automotive electric system market include Robert Bosch GmbH,
Denso Corp, Lear Corp, Delphi Automotive PLC., Valeo SA, Sumitomo Electric
Industries, Hitachi Automotive Systems, Mitsubishi Electric Corp., and NSK.
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