New York, US, Feb. 14, 2023 (GLOBE NEWSWIRE) — According to a Comprehensive Research Report by Market Research Future (MRFR), “E-Drive for Automotive Market Information by Drive Type, Product, Electrical Vehicle Type, and Region – Forecast till 2030”, The E-Drive for automotive market can attain a 34% CAGR between 2022 and 2030.
E-Drive for Automotive Market Synopsis
E-drive is a component and system that converts electrical energy into power in an electric vehicle’s driving system, where the vehicles may be powered by a fuel cell, batteries, or other sources. The Evaluation & Development of Regional Infrastructure for Vehicle Electrification (E-DRIVE) in automation is a user-friendly analytical tool to ease the development of electric car rapid charging infrastructure across the region.
E-Drive is a data-driven tool that considers a variety of essential aspects of fast charging infrastructure, such as distance to existing fast charging stations, traffic volume, surrounding commercial activity, and home charging availability.
E-Drive for Automotive Market Competitive Landscape:
The important vendors in the e-drive for automotive market include
- Robert Bosch AG (Germany)
- BorgWarner (U.S.)
- ZF Friedrichshafen (Germany)
- Magnetic Systems Technology (Magtec) (U.K.)
- ABM Greiffenberger (Germany)
- SMR (India), GKN PLC (U.K.)
- AVL List Gmbh (Austria)
- ACTIA Group (France)
- SIEMENS AG (Germany)
- Among others.
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The highly customizable dashboard interface serves a diverse range of customers and delivers results that represent the relative viability of places for infrastructure development, driving the e-drive for the automation market.
The major market participants are increasingly focusing on electric vehicles and have begun to offer electric vehicle ranges for models such as vans, large family cars, superminis, and sedans. Increased grid system implementation will improve electric car charging and increase demand for electric drive systems. The increasing popularity of electric vehicles in emerging economies represents a substantial growth opportunity for e-drives.
Rising demand for electric vehicles has enabled GKN Automotive to expand the range and volume of its goods to its existing customers, who account for 90% of worldwide OEMs, as well as target newer market players. GKN Automotive’s e-powertrain division provides solutions for all-electric vehicles and is the only business that offers torque vectoring, hybrid gearboxes, and modular e-drive systems.
|Market Size by 2030||USD Significant Value|
|CAGR during 2022-2030||34% CAGR|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||Rising demand for electric and hybrid cars|
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Market USP Covered:
E-Drive for Automotive Market Drivers:
EVs’ importance has grown as fuel efficiency and CO2 emissions rules have become increasingly stringent. These criteria now apply to around 85% of all automotive sales worldwide. CO2 pollution regulations aided the growth of electric car sales in the European Union, which experienced the biggest annual gain in 2020 to reach 2.1 million units. California has set EV sales targets for decades, while China has required them since 2017. As the usage of electric vehicles rises, providing convenient and affordable public charging stations will become increasingly crucial. To tackle this, governments have taken actions such as direct investments in the building of publicly accessible chargers and financial incentives for EV owners to install charging stations in their homes. Sales of EVs outside of urban areas have surged as cities strive to deliver better value to consumers. These efforts include tactical charging infrastructure deployment as well as the introduction of preferred circulation or access policies such as low- and zero-emission zones or variable circulation levies. Such initiatives have had a substantial impact on EV sales in Oslo and a number of Chinese cities.
Furthermore, continued battery cost reductions, expanded availability of electric vehicle models, EV adoption by fleet operators, and customer demand for the electric car presented an opportunity for the EV market in 2020.
For many applications, Smart e-Drive may meet the need for weight reduction and space. Within the expected forecast period, the E-Drive for Automotive Industry is expected to benefit from a number of advantages such as high dependability, decreased size, higher force age, and more underlying functionality, creating an opportunity for new market players in the e-drive for the automotive market.
E-Drive for Automotive Market Restraints:
Buying an electric vehicle is costly. The higher cost of purchasing an electric vehicle over a conventional one is primarily due to the battery. It alone can make a difference of thousands of euros, impeding the e-drive for the car market. The raw materials used in the battery, as well as the expensive manufacturing process, are major contributors to this. The battery system costs around 500 euros per kWh for a mid-size automobile with a battery capacity of 20kW, totaling 10,000 euros. Innovative battery materials with higher energy density, as well as enhanced manufacturing procedures, should result in much cheaper costs.
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Also, from component shortages to a lack of qualified staff, lithium-ion scarcity is foreseen, as is the absence of global standards and on-street charging. There are significant faults that would impact the charging of EVs, hampering the e-drive for automotive market during the projection period.
COVID 19 Analysis
A sharp e-drive framework is an integrated variation of the standard electric drive framework. This framework aids in driving the car without the use of external fuel or force. It is designed with a self-energy generator to power the vehicle using a viable material plan and electrical connections. The growing interest in electric and crossover vehicles is expected to be a key element driving the market.
Furthermore, government restrictions and directions to reduce fossil fuel byproducts by expanding the use of electric vehicles encourage business sector development. The COVID-19 pandemic has resulted in a decline in auto parts production and frameworks worldwide due to the closure of production offices and interruptions in the supply of segments from several Asia-Pacific nations, hampered market growth.
E-Drive for Automotive Market Segmentation
The market segments, with respect to application, are e-Axle and wheel drive. During the specified time frame, the e-pivot segment is expected to develop at the fastest rate. This section’s growth can be related to various variables such as expanding center around vehicle jolt, in general, vehicle productivity in traveler vehicles, and expansion inefficiency. The use of electric drive axles reduces the interface and bearing, resulting in improved performance, less agitation, and reduced energy consumption.
By Battery Type
The battery types in the market are lithium-particle, nickel-based, lead corrosive, and strong state battery; lead corrosive battery is predicted to develop throughout the estimated time period. They require little maintenance and battery-powered batteries.
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E-Drive for Automotive Market Regional Insights
With the global economy constantly improving, major emerging countries such as China, India, Thailand, and Indonesia are transforming into manufacturing centres for global automakers. People are increasingly able to purchase their own automobiles as a result of rising affluence in emerging nations, notably in emerging Asian economies such as China and India. To capitalize on increased consumer automobile tastes, prominent global automotive players such as Volkswagen, BMW, Toyota, and Ford are expanding into new emerging regions. Demand for E-Drive is likely to surge as global automakers continue to expand into developing and emerging markets.
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