If it is the only transit in Europe
What do you mean?
You can't have multiple stops in Europe in the same itinerary
What's your citizenship? US citizens don't need Schengen visa. Indian citizens do if you're traveling within Schengen https://www.schengenvisainfo.com/visa-application-indian-passport-holders/
Its a Layover of 2 hrs. Still?
Call the airline and ask
I had a 5 hour transit in Munich with no transit visa. Shorter one in Zurich. You can check this sort of thing on traveldoc.aero
The easy rule, if the US and your destination belong to the same ticket, you don't need a visa, you will not leave the transit zone. I did this without any problems. There is a super rare case when you buy 2 separate tickets and need a visa, but it is hard to do and isn't recommended.
Not necessarily always true. Canada requires a transit visa to pass through, as an example.
Yes, outside of Schengen zone this depends on the country. In this thread Schengen countries are assumed.
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Correction: only if it is same airport