Market Research Report
Smart Electric Drive Market with COVID-19 Impact Analysis, By EV Type, By Component, By Vehicle Type, By Application, By Battery Type and By Region - Size, Share,& Forecast from 2021-2027
|Smart Electric Drive Market with COVID-19 Impact Analysis, By EV Type, By Component, By Vehicle Type, By Application, By Battery Type and By Region - Size, Share,& Forecast from 2021-2027|
Published: December 1, 2021
AnalystView Market Insights
Content info: 309 Pages
Delivery time: 2-3 business days
The global Smart Electric Drive market was valued at USD 1,008.8 Million in 2020, growing with 30.6% CAGR during the forecast period, 2021-2027.
An intelligent electric drive is a more modern incorporated variation of a traditional electric propulsion system. These Smart electric utilizes the cell as a power supply and offers immediate transfer in the car, making driving pleasant and secure on the roadway. The clever e-drive system contains a battery, engine inverter, electronic brake amplifier, and output energizer. It improves mobility by conserving energy.
Features including rising global demand for automobiles, as well as rising demand for intelligent electric drive technology owing to greater vehicle economy, less part load, and smaller assembly design, would drive the intelligent electrical drive industry. The increased awareness for long-distance EV travel would further help the industry to grow.
The COVID-19 outbreak has emerged as a serious source of worry for automobile EV players. The automobile electrical vehicles sector has come to a standstill due to the halting of car manufacturing and logistics interruptions. Reduced auto sales following the outbreak would be a key source of anxiety for automobile EV Manufacturers in the near term. The intelligent electric powertrain industry, on the other hand, is predicted to have a large increase in 2022 mainly a result of the use of advanced incorporated technologies in an automobile. Prior to this, reduced EV car deliveries and a sudden halt in the introduction of novel innovations would lead to the intelligent electric drive industry growing slowly due to the outbreak.
The Smart Electric Drive market is segmented on the basis of EV Type, Component, Vehicle Type, application, Battery Type, and region.
Depending on battery type, the worldwide market for Smart e-Drive can indeed be further be segmented into solid-state, lead-acid, nickel-based, and lead-acid cells. Between these categories, lead-acid batteries are expected to increase significantly and have a greater industry share throughout the representation timeframe. Because of its lithium batteries, greater power efficiency, minimal operation, and convenience of use, this cell type is extensively utilized and in great demand globally.
Considering the increased demand for EVs inside the industry, e-axle consumption will expand at a quick rate. This is attributable to the industry's rapidly increasing need for surplus EVs, as well as the increasing preference for zero-emission automobiles. Asia Pacific is likely to represent the greatest industry, with several significant EV producers in the area employing Aisin as well as Nidec e-axles.
International firms including Infineon, Robert Bosch, Aisin Seiki, BorgWarner, UQM Technologies, Schaeffler, Efficient Drivetrains, Continental, Siemens, and Shanghai Edrive SINOEV lead the intelligent electric powertrain industry. To acquire momentum in the fast-growing smart electric drive industry, these firms have started creating new technologies, implementing development plans, and engaging in partnerships, alliances, including acquisitions and mergers.
The European geographical industry is expected to dominate the worldwide industry throughout the projected timeframe, generating the highest Industry Shares. This nation is experiencing increased expansion as a result of numerous factors such as recent advancements in technology in battery technology, the implementation of regulatory stringent emissions control, rising demands for electrically charged battery packs, and plug-in combination and composite vehicles throughout the European region. Furthermore, electric car makers provide significant contributions to the territory, which is expected to prosper in the European industry growth.
The scope of this report covers the market by its major segments, which include as follows: