Dallas, March 14, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global smart electric drive market is expected to grow from USD 0.91 Billion in 2021 to USD 14.5 Billion by 2030, at a CAGR of 36% during the forecast period 2022-2030.
Get a Sample Copy of the Report at: https://www.thebrainyinsights.com/enquiry/sample-request/12673
An electric drive runs on an electric energy. the batteries are lithium-ion batteries because of their efficiency, electric drives have a combination of three-cylinder turbo engines. They are rechargeable and have been adopted across Europe. They are lightweight, have electronic brake assist, stability control features, hill start assist along with having met all the safety standards. The components or body panels of this can be changed standalone and the drives are available in varieties. Unlike the traditional cars they are not painted but are powder coated which uses less energy adding to the already environmentally friendly features of the car. They are economical and ideal for urban mobility. With heavy investments and new innovations, the drives will be long range, cost efficient and faster few years down the line.
Depletion of fossil fuels over the last few decades due to their overexploitation has led to a supply crunch which is exacerbated by the crisis in the middle east at frequent intervals. This has led to the increase in international fuel prices which are eventually passed on to the end consumer. Along with being in short supply and non-renewable, fossil fuels are also polluting, impacting the health of people around the world. These combined reasons make electric drives the ideal solution for environment friendly urban mobility with long term benefits. However, the uptick in sales has been slowly due to the pandemic as well as the lack of infrastructure, the density of electric charging stations is very poor in the biggest consumer markets such as India which is restraining the growth of the industry.
Inquire or Share Your Questions If Any Before the Purchasing This Report: https://www.thebrainyinsights.com/enquiry/buying-inquiry/12673
Key players operating in the global smart electric drive market are :
• Siemens
• Robert Bosch
• Continental
• UQM technologies
• SINOEC
• Nidec corporation
• Aisin corporation
• BorgWarner
To enhance their market position in the global smart electric drive market, the key players are now focusing on Research and development to facilitate product innovations, setting up manufacturing units in the largest markets of the globe, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
• ZF Group, which is a global technology manufacturing company with its HQ in Germany, produces components for passenger cars. In 2021, the company launched its very own modular edrive kit. These kits are only meant for electric cars. The company claims that the modular chips are fast, scalable and cost-efficient signalling positive outputs for the industry.
• Magna International, a manufacturing company based out of Canada and specializing in mobility are innovating technologies which would make their powertrains more environment friendly. In 2021, they had a drivetrain tested in Sweden which the company claimed can reduce emissions by 38% with features like cruise control, eco-routing.
Purchase this Report (Price 4700 USD for a Single-User License): https://www.thebrainyinsights.com/buy-now/12673/single
The lithium-ion segment dominated the market with a market share of around 32% in 2021
The battery type segment is divided into lithium-ion, nickel based, lead acid and solid-state battery. The lithium-ion segment dominated the market with a market share of around 32% in 2021. The high energy density of lithium-ion battery which provides more efficiency will be a significant factor contributing to the growth of this segment.
The all-wheel drive segment is expected to grow at the fastest CAGR of 41% over the forecast period
The drive type method segment is divided into all-wheel drive, front wheel drive and rear wheel drive. Over the forecast period, the all-wheel drive segment is expected to grow at the fastest CAGR of 41%. The all-wheel drive is the most versatile option making if most preferred as it can cater to different needs.
The E-axle segment dominated the market with a market share of around 58% and a market value of around 0.52 billion in 2021.
The application segment is divided into E-axle, wheel drive. In 2021, the E-axle segment dominated the market, accounting for around 58% of global revenue. E-axle is the preferred by manufacturer because of it is faster and can be integrated into various systems with less effort.
Regional Segment Analysis of the Smart Electric Drive Market
• North America (U.S. Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, Asia Pacific emerged as the largest market for the global Smart electric Drive Market with a market share of around 34% in 2021. During the forecast period, Asia-Pacific is expected to be the largest market. The smart electric drive market in Asia-Pacific has been expanding rapidly. Smart electric drive market in Asia-Pacific is dominated by China. The countries of the Asia-pacific lead by China have been investing heavily in the electric drive market due to the increased risk of climate change which is a result of the pollution that is caused from the exhaust of fossil fuel dependant vehicles. With the huge market of consumers in China and India the smart electric drive market can grow exponentially with the help of favourable government policy and cut down the carbon emissions fulfilling their pledges at COP26.
For more information about this report visit: https://www.thebrainyinsights.com/report/smart-electric-drive-market-12673
About the report:
The smart electric drive market is analysed based on value (USD Billion). All the segments have been analysed on global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: http://www.thebrainyinsights.com
