Strategic Overview of Electric & Hybrid Vehicle Driveline Systems Market in North America
A growing number of original equipment manufacturers (OEMs) are starting to look at driveline electrification as a solution to meet the increasing pressure from governmental authorities to meet the stringent emission and fuel efficiency targets. Moreover, there is an increasing demand from consumers for technologies that offer superior performance, safety, and enhanced driving dynamics. This augurs well for the market for electric and hybrid vehicles, which is expected to expand at a compound annual growth rate of 22.3% during 2015-2022. This growth is also expected to be propelled by favorable government policies, increasing incentives, declining lifetime cost of ownership, and falling prices of batteries, which reduces the overall cost of the vehicle.
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