Smart e-Drive Market Overview:
With the prices of crude oil increasing while its availability is decreasing, the demand, as well as the market for electric vehicles, is increasing. Market Research Future (MRFR) has published a research report about the global smart e-Drive market size that envisions huge extension at 20% CAGR (Compound Annual Growth Rate) for this market between 2020 and 2027.
Key Players
The key players in the global smart e-Drive market share include Aisin Seiki (Japan), BorgWarner (USA), Continental (Germany), Efficient Drivetrains (USA), Infineon (Germany), Robert Bosch (Germany), Schaeffler (Germany), Shanghai Edrive (China) Siemens (Germany), SINOEV (USA), and UQM Technologies (USA).
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The decisive factors driving the global smart e-Drive market growth are high demand for hybrid and electric vehicle, and the introduction of stringent rules and regulations by various governments. Other important market driving factors include the emergence of eco-friendly vehicles, rising concerns regarding environmental pollution, and tax benefits & incentives to the original equipment manufacturers of electric vehicles. However, the high cost of necessary technologies & components and lack of charging infrastructure can make the market growth hit breaks.
The global smart e-Drive market segmentation segments the market into application, battery type, component, drive type, and lastly, region. The application-based segmentation of this market covers e-axle and wheel drive. In terms of battery drive, the market has been segmented into lead-acid, lithium-ion, nickel-based, and solid-state battery.
Based on the component, the market has been segmented into battery, e-brake booster, inverter, motor, and power electronics. By drive type, the market has been segmented into front wheel drive, rear wheel drive, and others.
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The regional segmentation of the global smart e-Drive market has segmented the global market into regional markets known as the Asia Pacific, North America, Europe, the rest of the world (RoW). During the forecast period, Europe is expected to dominate the global market due to the factors including the rapid advancements in the technology for batteries, strict emission control regulations by the governments of European countries, presence of key electric vehicle manufacturers, and the growing demand for electric, high purchasing power of consumers, plug-in hybrid & hybrid vehicles. Significant country-specific markets in this region include France, Germany, Italy, and the United Kingdom (UK), followed by the remaining countries of Europe.
North America is another important regional market due to technological advancement, established automotive industry, government regulations to curb carbon emissions, the high purchasing power of consumers, and the presence of many important automakers in this region, especially in the United States of America (USA). After the USA, Canada is the biggest country-specific market in this region.
The Asia Pacific region is another crucial regional market due to growing awareness of environmental concerns and rising disposable income of consumers. Although the sales of electric vehicles in India is 10% of the total vehicle sales, the figure is high due to the high density of population here. Other important country-specific markets in this region are China, and Japan, followed by the remaining countries of the Asia Pacific region.
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About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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