E-Drive for Automotive Market Size Synopsis and Highlights, Key Findings, Major

Posted by Market Research Future on December 16th, 2020

Global E-Drive for Automotive Market Size Information Report By Technology type , By fuel type By engine size , by application (Passenger Cars, Commercial Vehicles and Others) and By Region - Forecast To 2023

Market Synopsis:

E-drive for automotive refers to the electrical drive system that can control the motion of an electric vehicle (EV). The e-drive uses electrical motors as a primary source of energy that supplies the mechanical energy to the drive for motion control. E-drive system promises several great benefits to electric vehicles, including a large range of torque, speed, and power.

Besides e-drive systems, are independent of the environmental condition and are free from pollution. The e-drive can easily be started without any refueling, and its efficiency is high because fewer losses occur on it. Over the past couple of years, the global E-Drive for Automotive Market Size is growing rapidly due to the proliferation of electric vehicles.  

According to an eminent research firm, Market Research Future (MRFR), the global E-Drive for Automotive Market Size would grow from USD 8,588.8 MN in 2017 to over USD 19,400 MN by 2023. MRFR also confirmed that during the forecast period (2018 – 2023), the market would register a significant CAGR, which would be double-fold than its growth rate in 2017.

Electric vehicles play a crucial role in creating a clean energy economy. EVs is a favorite topic being discussed on a global level. Due to the global warming and environmental depletion, concerns over uncontrolled carbon emission is rising, and so is intensifying the pressure on the automotive sector. Increasing investments transpired into the development of these e-drive systems is another key factor fostering market growth.

Additional factors that are substantiating the growth of the market include increasing fuel prices and increasing environmental concerns. Besides, government initiatives to promote eco-friendly, electric vehicles, and the expansion of global auto-manufacturers into new emerging markets propel market growth.

On the other hand, high prices of e-drive alongside, the underdeveloped aftermarket services are hindering the market growth. Nevertheless, the growing demand for electric vehicles would support the growth of the market.

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E-Drive for Automotive   Market – Segments

The report segments the market into four key dynamics to widen the scope of understanding,

By Drive Type                          : Front Wheel Drive, Rear Wheel Drive, and All Wheel Drive.
By Product                               : Power Electronics, E-Brake Booster, Battery, and Motor, among others.

By Electrical Vehicle Type          : Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), and Plug-in Hybrid Electric Vehicles (PHEV).

By Regions                               : Asia Pacific, North America, Europe, and the Rest-of-the-World.

E-Drive for Automotive Market Size – Geographical Analysis

The Asia Pacific region leads the global E-Drive for Automotive Market Size closely followed by Europe and North America, respectively. Factors such as the demand for environmental safety, sustainable energy, and economic growth in the region drive the regional market. China, among other APAC countries, significantly contributes to regional market growth. The APAC region has gradually established itself as an industrial hub.  

The increased manufacturing of electric vehicles in the region is bringing forward the unrealized potential of the APAC in terms of Market volume.  Countries such as Indonesia and India are expected to present multiple growth opportunities to the regional market during the forecast period.

The E-Drive for Automotive Market Size in the European region accounts for a substantial market share, globally. Europe is the global hub for automotive research & innovations. Moreover, the resurging economy in the region is playing a crucial role in market growth, fueling R&D activities. The UK and Germany, heading with enormous investments, futuristic technologies, and the growing electric vehicles market, account for the major growth contributors to the growth of the market in the region.

The North America E-Drive for Automotive Market Size has emerged as a promising market, globally. Factors such as the growing demand, especially from hybrid electric vehicles segment and well-established automotive sector foster the growth of the regional market growth. Furthermore, the presence of the state-of-the-art infrastructure that allows the development and uptake of advanced technologies act as major tailwinds to the regional market growth.

E-Drive for Automotive Market Size – Competitive Landscape

Highly competitive, the E-Drive for Automotive Market Size appears to be fragmented due to the presence of many large and small-scale players. Strategic initiatives such as acquisition, collaboration, expansion, and product & technology are adopted by matured players to gain a competitive advantage in this market. These players are expected to bring innovations to the market relentlessly, focusing on geographical expansion and new product development.

Major Players:

Players leading the E-Drive for Automotive Market Size include Robert Bosch AG (Germany), ZF Friedrichshafen (Germany), SMR (India), AVL List Gmbh (Austria), GKN PLC (UK), Magnetic Systems Technology (UK), BorgWarner (US), ACTIA Group (France), SIEMENS AG (Germany), and ABM Greiffenberger (Germany), among others.

Industry/Innovation/Related News:

June 25, 2019 --- BMW AG a German automotive giant, announced that it is upgrading it plug-in hybrids to green by 2020. All its plug-in hybrid models will come standard with a function that automatically switches to the full-electric mode when the vehicles enter areas designated for emissions-free driving only.  

The function, called eDrive Zones, uses geofencing technology to recognize green zone areas, established by cities for emissions-free driving, and automatically change the driving mode to EV. The firm hopes that these Drive Zones would allow its plug-in hybrids to receive the same access rights as full EVs because they behave the same way in these areas.

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