Market Overview:

The Global Smart E Drive Market Size Was Valued At USD 915 Million In 2022 And Is Projected To Reach USD 10645.76 Million By 2030, Growing At A CAGR Of 35.90% From 2022 To 2030.

A smart e-Drive is an improved version of the traditional electric drive system that is built into the car. Smart e-Drive gets its power from the car's battery and has a direct transmission, which makes driving on the street safe and easy. The smart e-Drive is made up of a motor generator, a battery, an electric brake booster, and a power booster. It makes driving well-organized and saves power.

As more people want to drive more miles on a single charge or a vehicle's range, the market has more demand around the world. On the global market for smart e-drives, there are many different types of batteries that are used in many places. There are many different sizes, voltages, amps, and shapes of these batteries. Lead-acid batteries are one of the most popular kinds because they can't lose or gain liquid. Also, e-Axle applications are in high demand because they reduce the number of bearings and interfaces, lower noise, improve performance, and use less energy.

COVID-19 Impact:

The new coronavirus pandemic has slowed down production all over the world. Due to problems with the supply chain and production, the coronavirus pandemic is having effects that no one saw coming. China is one of the most important places where electric vehicles and parts for electric vehicles are made. Since China was where the pandemic started, a lack of parts has made the slowdown of electric vehicles last longer. But COVID-19 would have less of an effect on smart E-drive systems than on internal combustion engines because carbon emissions are controlled in smart E-drive cars. The smart E-drive market will also grow because the cost per mile is less than for vehicles that use fossil fuels.

Market Dynamics:

Market Trends:

• Partnerships to Fuel Adoption of Smart E-Drive

The future of transportation holds a lot of potential for electric vehicles. But infrastructure is still a problem when it comes to electric vehicles. The companies are working together to come up with solutions to set up the infrastructure needed to use electric vehicles. Kinetic green energy and power solutions, a company that makes electric vehicles, signed a deal with BPCL in 2020 to provide a mobility solution for electric vehicles based on the technology of swappable batteries. Kinetic Green and BPCL will work together to create a range of electric three-wheelers with swappable batteries that can be switched out in just two minutes.

Driving Factors:

• Lower Operating Costs of EVS Using Smart Electric Drive Technology

The US Energy Information Administration (EIA) says that the world used 101.95 million barrels of gasoline every day in 2019. Forbes says that the price of gasoline on the world market has been going up over the years. The world needs a lot of gasoline and diesel, but these are nonrenewable resources that may run out in the next few decades. Even though there have been many international agreements to control the price of gasoline, prices have been going up over the years. Since most countries have to import gasoline, using it makes the balance of trade worse. Because there isn't much oil left and the price of it is going up, automakers are looking for other ways to power their cars.

The cost to run an electric vehicle's drivetrain is less than that of gasoline and some other fuels. This is a big reason why the market for EVs is growing, along with the need to protect the environment. This will make people want to buy smart e-drives in the years to come. EDF energy says that the cost of using an EV can be as low as USD 0.4-0.6 per kWh. This is a lot cheaper than how much gas used to cost to go the same distance. This saves a lot of money for people who drive EVs every day. Even though charging at home can be more expensive, many countries and states, including the US, the UK, and Germany, offer subsidies for home charging. This will make the demand for electric trucks grow faster once the price of EVs falls to the same level as that of ICE vehicles.

• Increasing Investment to Drive the Market

Smart E-drives can't be made without investments in infrastructure. Governments all over the world are trying to sell more electric cars to cut down on carbon emissions. Also, governments are giving subsidies to people who buy electric cars and spending money to build public charging stations. For example, in 2018, three U.S. states, California, New York, and New Jersey, said they would invest $1.3 billion to help electric vehicles become more common.

Restraining Factors:

• Higher Cost of Smart Electric Drive Systems

In the last few years, the prices of electric cars have gone down. For example, Tesla cut the price of its Model X by $3,000 so that it would sell more. But smart e-drive, which includes e-axel and e-wheel drive, and other new and advanced technologies are still expensive. Due to their high cost, e-drive systems and modules are mostly found in electric cars with a mid-range to high price range. Because of this, these technologies are only found in these vehicles. Most of the time, putting these parts together costs 10-15% more than buying them separately. Because of how expensive these parts are, manufacturers don't use them on a large scale. The cost of the electric drive system goes up even more when the standard drivetrain parts have to be changed for each EV.

• Laws and Regulations Set by Government

Stringent norms and regulations enacted by several governments for the development and manufacture of electric vehicles have led to the production of electric vehicles in some countries, which in turn is estimated to restrain the smart e-drive for automotive market across the globe.

• Lack of infrastructure

Smart electric cars need charging stations, but there aren't any yet because the infrastructure isn't there. This can be a problem if you have a long commute. When compared to traditional fueling, charging takes a lot more time, which is another thing that is holding back the industry.

Opportunities:

• Rising Demand for Evs to Increase Demand for the Smart Electric Drive Market

Leading markets for electric cars, like China, the US, and Germany, are investing a lot in electric cars and infrastructure for charging them, as well as in research and development for faster and more efficient charging methods, longer-range electric cars, and cheaper batteries. They have also put money into making electric drivetrain technology better. Automakers will likely have to spend a lot of money to meet the growing demand for electric vehicles (EVs). Countries in North America, Europe, and many Asian countries have taken steps to lower their emissions over the next few decades and replace their vehicle fleets with ones that produce less pollution by 2035. This will make the market for electric vehicles (EVs) and related industries, like the smart electric drive market, very busy.

• Weight Reduction

Smart e-Drive can help reduce weight and make room for other applications. During the forecast period, the smart e-Drive for automotive market is expected to grow because it has a lot of benefits, such as high reliability, small size, higher torque generation, and more built-in functions. The auto industry should be able to make a lot of money because of this.

Challenges:

• Inadequate Charging Infrastructure for Electric Vehicles in Developing Countries

To help plug-in hybrid electric vehicles (PHEVs) and all-electric vehicles (EVs) become more popular, there needs to be a well-developed network of charging stations. Except for a few countries like the US, Germany, the UK, France, and Japan, this infrastructure is still in its early stages everywhere else. Due to the high cost of building charging stations and charging outlets, there aren't very many of them. For example, in Europe, the hardware for a slow two-plug charging station costs about $2,500. So, governments in different countries are giving subsidies and tax breaks for building infrastructure to lower the cost of getting started and get more people to buy EVs. For example, the Japanese government started putting money into building charging stations all over the country in partnership with Nissan, Mitsubishi, and Honda, all of which make electric cars. Because of this collaboration, Japan now has 40,000 more charging stations than gas stations (34,000). India only has 1800 charging stations as of March 2021. The electric mobility revolution in India, on the other hand, has just recently started to pick up speed. The government of India recently announced that the FAME II scheme would be extended, and a number of states, including Maharashtra, Gujarat, Rajasthan, and Delhi, have also made plans to speed up the adoption of electric vehicles. In India, the government is working hard to get people to buy electric cars so that vehicle emissions can be cut by 30% by 2030. But because of political instability in India, manufacturers aren't able to get into the market for electric vehicles there. Other big worries include how long it takes to charge the batteries, how competitive the prices are, and how bad the infrastructure is. Station-based outlets are offered by very few manufacturers, like Mahindra and Mahindra. So, less people use electric cars because infrastructure isn't being built to support them.

• Higher Cost of Electric Cars

The smart e-drive for automotive market is growing around the world because electric cars are getting more expensive, it costs more to develop smart e-drive for automotive, and people don't know much about them.

Strategic Development:

• In September 2021 - During the German IAA 2021 event, ZF announced the release of its eDrive kit. It brings together the company's full knowledge of e-drivetrains with a drivetrain that is easy to install in a wide range of vehicles.
• In March 2021 - Magna put out its new BEVs and PHEVs. In northern Sweden, they are being tried out. The PHEV version of it cuts pollution by 38%. Both models can connect to the cloud, have cruise control, and have a "eco mode."In February 2020 - Nidec said that its two new e-axles for 200 KW and 50 KW trains would be coming out. Their e-axle system is made up of an electric motor, a reduction box, and an inverter. This is a complete traction motor system. Ni200Ex is made for D- and E-category vehicles and gives better results than the Ni150Ex model, which it replaces. 
• In August 2019 - Continental AG released a fully integrated electric vehicle with an electric motor, transmission system, and converter. The system is made to weigh less than 80 kg as a whole, which is 20% less than other electric cars.
• In January 2019 - With its new iDM e-axle, BorgWarner introduced a new line of electric vehicles. It's made to work with all kinds of EVs.In August 2018 - Bosch released a new electric car that can be used in electric trucks. It has many parts, such as electric motors, electric motors, and so on.In July 2018 - Aisin began making e-axles for electric cars made by Toyota, such as the Mirai, C-HR, IZOA, etc. Its e-axle is linked to the development of its new e-drivetrain product.

Key Vendors:

·        Siemens (Germany)

Siemens AG is a company that designs and makes things. The company's main goals are to electrify, automate, and digitalize. Siemens also has engineering solutions for power, transportation, medical diagnosis, and automation and control.

·        Robert Bosch (Germany)

The Bosch Group is a major provider of technology and services around the world. Bosch is one of the top Internet of Things (IoT) companies, and it offers new solutions for smart homes, Industry 4.0, and connected mobility. Bosch wants to make transportation that is safe, fun, and good for the environment. It uses its knowledge of sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. Bosch improves people's lives all over the world with new and exciting products and services. In short, Bosch makes "Invented for life" technology.

·        Continental (Germany)

Continental creates new technologies and services that help people and their goods move around in a way that is sustainable and connected. The technology company has been around since 1871. It offers solutions for vehicles, machines, traffic, and transportation that are safe, efficient, smart, and affordable.

·        Aisin Seiki (Japan)

Aisin Corporation makes and sells parts for cars and trucks. The company makes drive trains, transmissions, clutches, disc brakes, anti-skid brake systems, suspensions, oil pumps, power windows, power door locks, and more. Aisin has sales and production branches all over the world.

·        Schaeffler (Germany)

Schaeffler AG (Schaeffler) designs, makes, and sells precision products that can be used in many different ways. The company sells a wide range of products, such as rolling bearings, spherical plain bearings, plain bearings, mechatronics, linear products, and precision components. The company sells these items under the INA, LuK, and FAG brand names.

·        BorgWarner (US)

BorgWarner Inc. (BorgWarner) sells parts and pieces for the auto industry. It makes and sells technologies and solutions for internal combustion, hybrid, and electric vehicle products for light vehicles, medium and heavy-duty vehicles, and off-road applications. The company makes turbochargers, emission and thermal control systems, transmission parts and systems, timing devices and chains, torque transfer systems for all-wheel drive, and rotating electrical devices.

·        Infineon (Germany)

The main office of Semiconductors, Information Technology, and Services company Infineon Technologies Indian is in Germany. Infineon Technologies India is an expert in semiconductors, IT, and services.

·        UQM Technologies (US)

UQM makes electric motors, generators, and controllers with a lot of power and high efficiency for the automotive, commercial truck, bus, marine, and military markets. With over 30 years of experience in the automotive industry, our engineering research, innovation, expertise, and product direction provide cutting-edge solutions for the next generation of electric, hybrid, plug-in hybrid, and extended range vehicles.

·        Efficient Drivetrains (US)

Efficient Drivetrains, Inc. (EDI) is a global leader and innovator of advanced, high-efficiency Plug-in Hybrid Electric Vehicle (PHEV) and full Electric Vehicle (EV) drivetrains, exportable power, vehicle control software, and idle mitigation solutions. EDI offers advanced high efficiency PHEV and EV drivetrain systems and sophisticated control software in combination with optional AC Power export and idle mitigation solutions to enable vehicle OEMs and modifiers to rapidly and cost effectively introduce superior hybrid and electric vehicles to the market.  

·        Shanghai Edrive (China)

Shanghai Edrive Co., Ltd manufactures automobile parts. The company makes motor drive systems for new energy vehicles, parts for vehicles, power assemblies, and other things. Shanghai Edrive sells its items all over China.

·        SINOEV (US)

SINOEV Technologies, Inc. is a company that makes power-trains for electric vehicles. The company comes up with ideas for, works on, and makes traction battery packs. SINOEV Technologies sells e-drive parts, like motors and motor drives, as well as energy storage systems that don't have to do with driving.

Segmentation Analysis:

The Global Smart Electric Drive Market is Segmented on the basis of vehicle type, EV type, application, drive type, component, and region.

By Vehicle Type:

Based on the type of vehicle, the market is divided into passenger vehicles, commercial vehicles, two-wheelers, and light commercial vehicles. The market is mostly made up of Light Commercial Vehicles. The fast growth of this segment is mostly due to the fact that more people are becoming aware of how electric vehicles can help reduce emissions, more people are buying electric vehicles to reduce emissions from fleets, and the government has strict rules and regulations about vehicle emissions. Transport fleet operators and retail multinational corporations are switching to electric light commercial vehicles.

• Passenger Vehicle
• Commercial Vehicle
• Two-Wheeler
• Light Commercial Vehicles

By EV Type:

Based on the type of EV, the market is divided into Battery Electric Vehicle, Plug-In Hybrid Vehicle, Hybrid Electric Vehicles, and Fuel Cell Electric Vehicle. The biggest share of the market is in the Fuel Cell Smart Electric Drive segment. The fast growth of this segment is mostly due to the rising demand for vehicles with strict carbon emission norms and fewer carbon emissions. There is also a growing focus on the adoption of Fuel Cell Smart Electric Drive (FCEVs) because of benefits like fast refueling, and the government is doing more to advance fuel cell technology and is investing more money in it.

• Battery Electric Vehicle
• Plug-In Hybrid Vehicle
• Hybrid Electric Vehicles
• Fuel Cell Electric Vehicle

By Application:

The market is split into E-axle and E-Wheel Drive groups based on how they are used. A big part of the market is made up of the E-axle category. This is mostly because the market wants and needs more mass-produced EVs and zero-emission cars are becoming more popular. Since there are more EVs on the market, the need for e-axles will grow quickly. This is because the market is demanding more and more mass-produced EVs and cars with no emissions. Asia-Pacific is likely to be the biggest market because Aisin and Nidec e-axles are used by many well-known EV manufacturers there.

• E-Axle
• E-Wheel Drive

By Drive Type:

The market is divided into Front Wheel Drive (FWD), Rear Wheel Drive (RWD), and All Wheel Drive (AWD) based on the type of drive (AWD). The RWD segment has a large share of the market. This is because it is easier to drive and more people want these vehicles. North America has also seen a faster growth in these vehicles, with the Tesla Model 3 Standard version, BMW i3, Volkswagen ID4, Porsche Tycan, and others leading the market.

• Front Wheel Drive (Fwd)
• Rear Wheel Drive (RWD)
• All Wheel Drive (AWD)

By Component Type:

EV Battery, Electric Motor, Inverter System, E-Brake Booster, and Power Electronics are the different types of parts that make up the market. The market is mostly made up of EV batteries. The Asia-Pacific region will have the most demand for EV batteries because China is the biggest EV market in the world and Japan, South Korea, and India are steadily increasing their EV demand. So, if more smart electric drives used modern technologies, the demand for EV batteries would also grow.

• EV Battery
• Electric Motor
• Inverter System
• E-Brake Booster
• Power Electronics

Regional Insights:

In 2020, Europe had the biggest share of the market. Encouragements and grants from the government to buy electric vehicles sped up the demand for EVs, which led to more smart electric drives being used. Also, stricter emissions rules from the European Union made people less interested in older cars and more interested in newer EVs. In the next few years, the market is likely to grow because there will be more demand for smart e-drive in Europe. This is because consumer tastes in high-end EVs are changing, and technology is improving in this region.

During the time frame of the forecast, Asia-Pacific is likely to grow the fastest. The growth of the market in the area is being driven by the high EV market in China. In the coming years, the market is also expected to grow because more and more people are buying EVs in emerging economies in APAC, like India, Japan, and South Korea. During the forecast period, smart e-drive demand in APAC is also likely to be boosted by efforts by manufacturers to set up EV manufacturing units in these emerging economies in order to take advantage of opportunities to make more money.

For example, in February 2021, Tesla Inc. will open its first manufacturing unit in India in the southern Indian state of Karnataka. Also, emission standards, rising fuel prices, and the expected introduction of emission regulations for cars in developing countries in the Asia-Pacific region are expected to help the market grow in the coming years.

During the period of the forecast, North America is also likely to grow a lot. During the forecast period, the demand for smart e-drives is likely to rise due to the growing EV market and the presence of top EV manufacturers like General Motors, Tesla, and others. In the near future, technological changes in the American car industry will also have an effect on market growth.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Scope of Report:

Conclusion:

• The report includes relevant data and information that has been checked by the top industry professionals and experts from around the world.
• The research report also gives an overview of how attractive smart electric drive is based on battery type, drive type, application, and regions. This is based on their growth rate (CAGR), market size, and attractiveness, which are figured out by looking at the present and future to figure out how the market will grow and change in the future.
• The report shows a detailed analysis (both quantitatively and qualitatively) of historical data, revenues, key developments, and the most important strategies used by the most important companies in the global smart electric drive market.
• The report also talks about what's driving the market, what's stopping it from growing, what potential industry opportunities there are, and what trends and developments are important for investors.