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"The E-drive automotive market was valued at USD 8.952 Million in 2019 and it is expected to reach more than USD XX Million by 2028, likely to grow at a CAGR of 8.9% during the forecast period."
An electric drive is an electromechanical device that's utilized for changing over electrical energy into mechanical energy that gives movement to the wheels of the vehicles. A normal e-drive system comprises an electric engine and a control framework utilized for controlling the turn of the engine shaft. The e-drive for cars comprises a battery, engine, control gadgets, and others. For moving the vehicle back and forward, different sorts of control modules such as controller and inverters are utilized. It can also be utilized in a premium course vehicle and a sports car. The increased deployment of grid systems will support the charging of electric vehicles and will increase the demand for electric drive systems. The increase in electric vehicle sales in emerging economies is a primary growth opportunity for e-drives.
Increasing innovation in the automotive industry will drive the E-drive for the automotive market
E -drive for cars features a considerable request due to the worldwide surge within the fuel costs. There have been critical innovative improvements within the car industry that will have a positive effect on the e- drive for the car market. The different exacting government standards embraced universally for keeping up the contamination levels and an increment in deals of hybrid and electric vehicles will lead to market development. The increase in utility programs for supporting the selection of electric vehicles includes development. The key market players are more slanted towards electric vehicles and have begun advertising EV run for models counting, vans, hatchbacks, superminis, sedans, and expansive family cars. A smart e-Drive is an advanced integrated adaptation of the ordinary electric drive system. Smart e-Drive uses the battery as a control source and gives coordinate transmission within the vehicle which makes driving smooth and secure on the street. The smart e-Drive incorporates a battery, engine generator, electric brake booster, and control booster. It gives effective driving by saving energy. Daimler AG propelled a smart electric drive vehicle that's prepared with keen e-Drive innovation.
By product, the battery segment dominated the E-drive automotive market
By product, the E-drive for the automotive market has been segmented into power electronics, battery, e-brake booster, and others. The battery segment leads with the largest share due to the increased demand for the product from electric vehicle manufactures. This segment is expected to grow at an impressive CAGR of 13.1% during the forecast period.
By electric vehicle type, hybrid electric vehicle segment dominated the E-drive automotive market
By electric vehicle type, the E-drive for the automotive market has been segmented into battery electric vehicles, hybrid electric vehicles, and plug-in electric vehicles. The hybrid electric vehicles segment dominates the market with the largest share due to this vehicle type possessing a combination of better and internal combustion engine systems. Furthermore, the manufacturer offers a wide variety of models under hybrids vehicles.
Europe is dominated by the E-drive automotive market
By geography, the E-Drive for Automotive Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The automotive industry is booming the market in this region, due to the presence of larger manufacturers such as Continental AG, Faurecia, Delphi Automotive, among others. The automotive sector has provided 13.8 million jobs in the European region. The European Commission supports technological harmonization and funding research & development of the automotive industry to increase public safety. The automotive industry has been expanding in this region especially in Germany, the U.K., France, and Italy owing to the rapid technological developments in the region. The growing e-Drive automotive market is also due to government subsidies on electric vehicles in the region during the forecast period.
However, North America has dominated the automotive market with the largest share of the market due to increasing the presence of a well-established automotive industry. The Asia Pacific is expected to witness significant growth next to the European region over the forecast period due to developing infrastructure in this region, coupled with increasing awareness about upcoming technologies in electrical vehicles.
Acquisition and merger are the key factors that are adopted by the key players in the climate control systems for the commercial vehicle market. Some of the major companies into climate control systems for the commercial vehicle market Robert Bosch GmbH, SIEMENS AG, GKN PLC, ZF Friedrichshafen AG, ACTIA GROUP, Hitachi Automotive Systems, Ltd, Continental AG, Magna International Inc, MAHLE GmbH, BorgWarner Inc, and ABM Greiffenberger.
E-Drive for Automotive Market Key Market Segments:
- Power Electronics
- E-brake Booster
By Electric Vehicle Type
- Battery Electric Vehicles
- Hybrid Electric Vehicles
- Plug-In Hybrid Electric Vehicles
- E-axle drive
- E-wheel drive
- North America
- Asia Pacific
- Middle East & Africa
- Latin America