Portland, OR, Nov. 08, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global e-drive for automotive market size generated $9.6 billion in 2021, and is estimated to reach $21.5 billion by 2031, witnessing a CAGR of 8.8% from 2022 to 2031. The report provides an in-depth analysis of top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.
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E-Drive for Automotive Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $9.6 billion |
| Market Size in 2031 | $21.5 billion |
| CAGR | 8.8% |
| No. of Pages in Report | 273 |
| Segments covered | Electric Vehicle Type, Vehicle Drive Type, Application, and Region |
| Drivers | Strict government rules and regulations toward vehicle emission |
| Surge in demand for electric vehicles | |
| Opportunities | Technological advancement |
| Restrains | High cost of e-drive system |
Covid-19 Scenario:
- The Covid-19 pandemic and followed lockdown regulations resulted in supply-chain disruptions and low sales of passenger cars.
- The temporary suspension of production of vehicles across the globe and the shortage of component of semiconductor chips hampered the market.
The report offers detailed segmentation of the global e-drive for automotive market based on electric vehicle type, vehicle drive type, application, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps investors, market players, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on electric vehicle type, the battery electric vehicle segment accounted for the highest share in 2021, contributing to nearly half of the total share, and is expected to maintain its leadership status during the forecast period. In addition, the segment is expected to manifest the highest CAGR of 9.8% from 2022 to 2031.
Based on vehicle drive type, the all wheel drive segment held the largest share in 2021, accounting for nearly half of the market, and is expected to maintain its dominance in terms of revenue by 2031. However, the rear wheel drive segment is estimated to witness the largest CAGR of 10.0% during the forecast period.
On the basis of application, the passenger cars segment dominated the market in 2021, accounting for more than four-fifths of the market, and is projected to maintain its leading position throughout the forecast period. However, the commercial vehicle segment is estimated to showcase the highest CAGR of 10.0% during the forecast period.
Based on region, the market across Asia-Pacific accounted for the highest share in 2021, contributing to more than two-fifths of the total market share, and is projected to continue its leadership status by 2031. However, the market across Europe is projected to portray the fastest CAGR of 9.7% during the forecast period.
Leading players of the global e-drive for automotive market analyzed in the research include Toyota Motor Corporation, Continental AG, Robert Bosch GmbH, ZF Friedrichshafen AG, BorgWarner Inc., Magna International Inc., AISIN SEIKI Co. Ltd., Schaeffler AG, Hitachi, Ltd, GKN PLC, E-TRACTION B.V, NISSAN MOTOR CO., LTD.
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The report analyzes these key players in the global e-drive for automotive market. These players have adopted various strategies such as new product launches, expansion, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of every market player.
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