Smart E Drive Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The global Smart E Drive Market size was valued at USD 915 Million in 2022 and is projected to reach USD 14467.59 Million by 2030, growing at a CAGR of 35.90% from 2022 to 2030.
Smart E Drive Market Overview:
As demand for driving more miles on a vehicle range or single charge increases, the market has more demand globally.
The global market for smart e-drives has a variety of battery types that are widely used in different regions of the world. These batteries are available in a variety of sizes, voltages, amps and shapes. Among them, lead-acid batteries are one of the widely preferred types of batteries because they do not allow the loss or addition of liquid. Additionally, e-Axle applications are in high demand as they help reduce bearings and interfaces, reduce noise, improve performance and reduce energy use.
Governments around the world are driving the growth of the global market by preparing measures to expand the supply of electric vehicles and reduce carbon emissions. Governments of many countries are also implementing incentives and tax benefits for original equipment from electric vehicle manufacturers, boosting the growth of the global market. Moreover, the biggest threat to human life is global warming, which is raising concerns about environmental pollution. The emergence of green vehicles presents enormous opportunities for the global market and its key players. Apart from that, the global market has many intentions such as smart electric drive system/component manufacturers, smart electric drive suppliers, distributors or dealers of automotive smart electric drive components and systems, raw material suppliers, industry associations, traders and distributors. Including the audience. Smart Electric Drive Systems, Automotive Organizations/Associations, Automotive Original Equipment Manufacturers (OEMs)
Smart E Drive Market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Smart E Drive Market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- In September 2021, ZF announced the launch of its eDrive kit during the German IAA 2021 event. It combines the company's complete e-drivetrain expertise with a drivetrain designed for easy installation in a wide range of vehicles.
- In March 2021, Magna launched its new BEV and PHEV vehicles. They are being tested in northern Sweden. Its PHEV version reduces emissions by 38%. Both models offer cloud connectivity, cruise control and eco mode.
In February 2020, Nidec announced the launch of its two new e-axles designed for 200 KW and 50 KW trains. Their e-axle system consists of a complete traction motor system with an electric motor, reduction box and inverter. Ni200Ex is designed for D and E-category vehicles which provides higher results compared to the earlier Ni150Ex model.
- In August 2019, Continental AG launched a fully integrated electric vehicle that includes an electric motor, transmission system and converter. The system is designed for a total weight of less than 80 kg, which is 20% lighter than competing electric vehicles.
- In January 2019, BorgWarner launched its new range of electric vehicles with its new iDM e-axle. It is designed for use with all types of EVs.
- In August 2018, Bosch launched its new electric car for use in electric commercial vehicles. It consists of many things like electric motors, electric motors etc.
- In July 2018, Aisin started producing e-axles for Toyota made EV's like Mirai, C-HR, IZOA etc. Its new e-drivetrain product is linked to the development of its e-axle.
Major Market Segments Covered in Smart E Drive Market Industry Research:
Market Key Players:
Siemens (Germany), Robert Bosch (Germany), Continental (Germany), Aisin Seiki (Japan), Schaeffler (Germany), BorgWarner (US), Infineon (Germany), UQM Technologies (US), Efficient Drivetrains (US), Shanghai Edrive (China) SINOEV (US), And Others.
- Smart e-Drive Battery
- Smart e-Drive Electric Motor
- Smart e-Drive Inverter Unit
- Smart e-Drive E-Brake Booster
- Smart e-Drive Power Electronics
- E-Wheel Drive
- Motor generator market
- Battery market
- e-Brake booster market
- Power electronics market
Europe achieved the largest market share in 2020. Government support through incentives and grants for the purchase of electric vehicles accelerated EV demand, leading to an increase in the adoption of smart electric drives. In addition, stricter emissions regulations imposed by the European Union shifted consumer interest from older cars to newer EVs. Therefore, increasing demand for smart e-drive in Europe due to changing consumer preferences in high-end EVs and technological advancements in this region is expected to boost the market growth in the coming years.
Asia Pacific is likely to witness the fastest growth rate during the forecast period. The high EV market in China is driving the market growth in the region. In addition, growing EV penetration in emerging economies of APAC such as India, Japan, South Korea, and others is also expected to boost market growth in the coming years. Also, efforts by manufacturers to establish EV manufacturing units in these emerging economies to tap into revenue growth opportunities are expected to boost smart e-drive demand in APAC during the forecast period.
For example, in February 2021, Tesla Inc. Karnataka, a southern Indian state, has been chosen to open its first manufacturing unit in India. Furthermore, emission standards, rising fuel prices, and the expected introduction of emission regulations for automobiles across developing countries in Asia Pacific are expected to boost growth. market in the coming years.
North America is also likely to register significant growth during the forecast period. Increasing EV market and the presence of leading EV manufacturers such as General Motors, Tesla, and others are expected to boost the demand for smart e-drives during the forecast period. Also, the presence of technological developments in the American car industry will affect market growth in the near future.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
The introduction of stringent government rules and regulations and the high demand for electric and hybrid vehicles are major growth drivers for the global smart e-drive market. In addition, the emergence of eco-friendly vehicles and the implementation of tax benefits and incentives across different regions are boosting market growth.
The US Department of Energy has invested in 16 electric vehicle projects in the District of Columbia and 24 states to prepare communities for charging infrastructure and plug-in electric vehicles. These kinds of initiatives by the government are fueling the growth of the market.
The implementation of several government regulations and policies to limit vehicle emissions over the past few years has brought many opportunities to the global smart e-drive market.
The growing interest in vehicle electrification, increasing fuel economy and overall vehicle efficiency of passenger cars are important factors providing lucrative opportunities for major players and the smart e-drive industry.
The global market for Smart e-Drives is described as being heavily constrained by high technology costs, lack of charging infrastructure, and high component costs.
Hence, the global market enlists more key players to thrive in the market growth during the evaluation period.
Market Growth challenges
The global market for Smart e-Drives may be challenged by the high cost of components and advanced technologies.
Another major challenge for the market could be the unprecedented COVID-19 pandemic, which has impacted the growth of the global market by disrupting key sales in the market.
Smart E Drive Market report scope:
Crucial Points from this Smart E Drive Market Report
- Estimate Smart E Drive Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Smart E Drive Market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions-
- What is the CAGR of Smart E Drive Market?
- What are the key types of Smart E Drive Market?
- What are the key applications of Smart E Drive Market?
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