With the emergence and long-term Impact of COVID-19, Global Smart E-Drive Market to reach USD XXX Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Smart E-Drive Market is poised to raise up to USD XXX Billion by 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.
Geographically, the global Smart E-Drive market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). 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.
The global Smart E-Drive market is highly competitive owing to the presence of several key manufacturers such as Magna International Inc., ZF Friedrichshafen AG, AISIN SEIKI Co. Ltd., HYUNDAI MOBIS, Continental AG, Siemens AG, and others.
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Key findings of the study suggest:
- Global Smart E-Drive Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030.
- In the Battery segment, Battery emerged out as the leading market segment in 2022.
- Europe is anticipated to drive regional growth Owing to 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.
- Asia-Pacific is expected to grow at higher rate followed by Europe during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
Components:
- Battery
- Motor generator
- Power electronics
- E-Brake booster
Application:
- E-Axle Market
- Wheel drive market
Drive Type:
- Front wheel smart electric drive
- Rear wheel smart electric drive
- All wheel smart electric drive
Battery Type:
- Lithium-ion
- Nickel-based
- Lead acid
- Solid state batter
Vehicle Type:
- Passenger vehicle
- Commercial vehicle
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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