Global Smart E-Drive Market Size study & Forecast, by Components (Battery, Motor generator, Power electronics, E-Brake booster), by Application (E-Axle Market, Wheel drive market), by Drive type (Front wheel smart electric drive, Rear wheel smart electric

Global Smart E-Drive Market Size study & Forecast, by Components (Battery, Motor generator, Power electronics, E-Brake booster), by Application (E-Axle Market, Wheel drive market), by Drive type (Front wheel smart electric drive, Rear wheel smart electric drive, All wheel smart electric drive), by Battery type (Lithium-ion, Nickel-based, Lead acid, Solid state batter), by Vehicle type and Regional Analysis, 2023-2030

Global Smart E-Drive Market is valued at approximately USD xxx billion in 2022 and is anticipated to grow with a healthy growth rate of more than xxx over the forecast period 2023-2030. Smart E-Drive is an upgraded electric drive system that uses a battery for power and incorporates brushless DC motor technology. Its compact design combines the electric motor, power electronics, and control systems into a single assembly. The electric engine is positioned at the rear, occupying the same location as a traditional combustion engine in a regular vehicle. The Smart E-Drive Market is experiencing rapid growth due to the surging sales of electric vehicles. Also, government regulations focused on emissions are also driving market expansion. Smart E-Drive systems offer advantages such as cost-effectiveness, noise reduction, lower maintenance costs, reduced vibration, instant torque, and higher efficiency compared to conventional vehicles.

The growing popularity of electric vehicles is fueling the demand for advanced electric drive systems such as Smart E-Drive. The need for efficient energy conversion, enhanced vehicle performance, and advanced functionalities is propelling the development and production of Smart E-Drive technologies. According to the iea.org in 2022, electric car sales soared, nearly doubling from the previous year to reach a record high of 6.6 million in 2021, accounting for approximately 9% of total sales. This brought the total number of electric cars on the road to 16.5 million. The sales share of electric cars increased by 4 percentage points in 2021. By 2030, it is projected that the electric car fleet exceed 300 million, with electric cars representing 60% of new car sales. Additionally, growing technological advancement provide lucrative opportunity for the market. However, the high cost of Smart E-Drive stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Smart E-Drive Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe dominated the market in 2022 owing to the supportive government incentives and grants for electric vehicles that have led to a surge in their adoption, driving the demand for smart electric drives. Also, stricter emission regulations in the European Union have also prompted buyers to shift towards advanced EVs. According to the International Energy Agency in 2021, Europe witnessed the highest growth in EV sales in 2020, with new registrations surpassing 1.4 million, indicating a significant market expansion. Asia Pacific is expected to grow significantly over the forecast period, owing to the key manufacturers establishing EV manufacturing units in these regions to capitalize on early revenue growth opportunities, boosting the demand for smart e-drives in APAC. Additionally, factors such as emission regulations, rising fuel prices, and the potential introduction of scrapping policies for conventional vehicles in developing APAC countries are anticipated to contribute to market growth in the coming years.

Major market player included in this report are:
Magna International Inc.
ZF Friedrichshafen AG
AISIN SEIKI Co. Ltd.
HYUNDAI MOBIS
Continental AG
Siemens AG
GKN PLC
Hitachi Ltd.
Robert Bosch GmbH
Schaeffler AG.

Recent Developments in the Market:

 In August 2021, ZF Friedrichshafen AG revealed its plans to launch the next-generation e-mobility products, including the ZF AxTrax electric axle, in the commercial vehicle market of North America. The company aims to roll out these innovative solutions by 2023, targeting the growing demand for electric mobility in the region.
 In February 2021, Tesla Inc. chose the southern Indian state of Karnataka as the location for its inaugural manufacturing facility in India. This move by the electric car manufacturer signifies its expansion into emerging economies and highlights its commitment to establishing a presence in the Indian market, which has significant potential for electric vehicle adoption.

Global Smart E-Drive Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Components, Application, Drive Type, Battery Type, Vehicle Type, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Components:
Battery
Motor generator
Power electronics
E-Brake booster
By Application:
E-Axle Market
Wheel drive market
By Drive Type:
Front wheel smart electric drive
Rear wheel smart electric drive
All wheel smart electric drive
By Battery Type:
Lithium-ion
Nickel-based
Lead acid
Solid state batter
By Vehicle Type:
Passenger vehicle
Commercial vehicle
By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Magna International Inc.
ZF Friedrichshafen AG
AISIN SEIKI Co. Ltd.
HYUNDAI MOBIS
Continental AG
Siemens AG
GKN PLC
Hitachi Ltd.
Robert Bosch GmbH
Schaeffler AG.

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