Automotive Gear Market: Traction of Shift-by-Wire Systems for Hybrid-Electric and Electric Vehicles Augments Penetration of EVs
The trend of light weighting has become a popular phenomenon as automakers eye to adhere to an EPA guidelines that pitches for automobiles to average 54.5 mpg by 2025. As such, automakers are banking on gears made of sophisticated plastics which are comparatively lighter and provide better efficiency vis-à-vis metal counterparts. Substantially, the popularity of plastic gears has soared. In addition, plastic automotive gears with carbon fiber is gaining traction in passenger cars as automakers look to diversify their portfolio.
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