The Continental does away with the engines

With increase in demand of enhanced fuel economy and rising fuel prices in vehicle are anticipated to drive vehicle electrification Industry growth globally.

Stringent government policies on harmful emissions from Carbon dioxide and rise in pollution are driving the electrification industry from past few years.

This market is likely to experience high growth due to rising requirement for electric systems in tax exemptions, vehicles and subsidies by the government with increase in diesel and petrol prices.

Major Products in Electric Vehicles Market are Electric power steering, electric water pump, thermoelectric generator, electric oil pump, electric vacuum pump, electric mobile phone charger and liquid heater PTC.Browse Details of Report @ https://www.hexaresearch.com/research-report/electric-vehicles-ev-industry/Key players for Electric Vehicles market are JTEKT Corporation, Visteon Corporation, NSK ltd, Denso Corporation, Friedrichshafen AG, BorgWarner Inc and Nexteer Automotive Group LtdLargest Electric Power steering is expected to contribute for the major market share due to potential of ensuring the safe and secure driving in vehicles from hydraulic power steering.

This segment is further estimated to provide low energy consumption, better handling and reduced weight in vehicles which ultimately gives a strong place to market of Electric Power Systems.

North America is likely to witness major market share due to its growth in vehicle market, rigorous norms for emissions, and government subsidize provided for electric vehicles.

According to a recent report published by Fast.MR Market Research, titled, Global Lithium Ion Battery Market 2018: Market Size, Trends, Opportunity, Forecast 2018-2024, the global lithium ion battery market accounted for USD 36.9 Billion in 2018 and is estimated to reach USD 93.8 Billion by 2024.

Moreover, it is anticipated to flourish at a CAGR of 16.5% during the forecast period i.e.

The battery pack segment accounted for highest market share in 2018 and is anticipated to continue its dominance during the forecast period.Get Sample Report of “Lithium Ion Battery Market”- https://fastmr.com/request-s/116In industry segment, automotive segment captured a significant share of overall market in 2018.

Developed nations such as United States, Japan and European countries are adopting electric vehicles owing to environmental concerns.

Furthermore, emerging economies such as India, China and others are encouraging people of their nation to adopt electric vehicles.

Furthermore, these technological advancements and development of lithium ion batteries have expanded the application such as e-bikes, medical equipment, electric powertrain, among others.Rising Utilization in Consumer ElectronicsWide scale application of lithium ion batteries in consumer electronics such as cameras, tablets, smartphones and others is one of major factors which is believed to fuel the growth of global lithium ion battery market during the forecast period.

The global internal combustion engine (ICE) market demand is expected to reach 229,439 thousand units by 2025 at a 4.9% CAGR during the forecast period, according to a new report by Grand View Research, Inc.

Rising need for fuel efficiency has resulted in engine downsizing and turbo charging, which is expected to escalate market growth over the coming years.

The automotive ICE segment is expected to witness significant growth owing to high vehicle demand over the forecast period.

Surging demand for high efficiency engines with low carbon emission is also expected to fuel segment growth.Availability of alternative-fuel options such as propane auto gas and compressed natural gas as well as and electric vehicles is anticipated to challenge industry growth.

However, a complete replacement by these substitutes may take a long time owing to the reliability and efficiency offered by IC engine technology.Request a Free Sample Copy of Internal Combustion Engine (ICE) Market Report @ https://www.radiantinsights.com/research/internal-combustion-engine-ice-market/request-sampleFurther key findings from the study suggest:• The petroleum segment captured the largest share by fuel type in 2017 and is expected to register a CAGR of close to 5.0% from 2018 to 2025.

This growth is ascribed to increasing demand for gasoline powered vehicles as well increasing production of shale gas• By end use, the automotive engines segment is projected to witness healthy growth over the forecast years, primarily on account of surge in demand for commercial as well as passenger vehicles• Rising demand for submarines and ships for military applications is expected to drive the marine engines segment from 2018 to 2025• The Asia Pacific internal combustion engines market accounted for over 40.0% of the overall market volume in 2017, fueled by high demand across the automotive segment• Key players in this market include Volkswagen AG, General Motors, Rolls-Royce, Caterpillar Inc., Cummins, Toyota Industries Corporation, and Volvo.

Even as the world faces the challenge of climate change, world leaders had come together to sign the Paris Accord in 2015.

Towards this end, electric mobility has been given a massive push by the government.

The results are also encouraging.

To further the agenda of electric mobility in the country, the inter-ministerial committee for Electric Vehicles has sanctioned 5,645 electric buses for intracity operations in 65 cities and intercity operations to 8 state transport undertakings.

The inter-ministerial committee for EV Vehicles today sanctioned 5645 electric buses for intracity operations in 65 cities and for intercity operations to 8 state transport undertakings.

This will give huge impetus to automobile sector, clean up our cities & drive Make in India.