Automotive EV HUB Market: Future Growth And Forecast With Significant Players 2020-2030
Automotive EV HUB Market : Introduction Automotive EV HUB is the central system of an electrical vehicle. It is a vehicular network that converts electric energy from the battery into mechanical energy of the wheels. It also includes systems that perform functions such as charging and battery management. The automotive EV HUB consists of two primary types of parts, namely, driving parts (motors) and power supply parts (inverters, converters, etc.) Key Drivers of Automotive EV HUB Market Increase in sale of autonomous and electric vehicles is fueling the demand for EV driving systems. The Global EV Outlook 2019 report of International Energy Agency stated that sale of electric cars witnessed 40% year-on-year growth in 2019 with a total sale of 2.1 million electric cars worldwide. These electric and autonomous vehicles utilize complex networks of electro-mechanical parts that constitute the driving system or hub of these vehicles. Thus, increase in adoption of next-generation vehic...