Market Research Report
Global Smart Electric Drive Market- Technologies, Market share and Industry Forecast to 2024
|Published by||Occams Business Research & Consulting Pvt. Ltd.||Product code||745704|
|Published||Content info||240 Pages
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|Global Smart Electric Drive Market- Technologies, Market share and Industry Forecast to 2024|
|Published: June 12, 2018||Content info: 240 Pages||
Global smart electric drive market is expected to witness a CAGR of 31.8% over the forecast period (2017-2024). The market is primarily driven by demand for alternate materials & overall weight reduction in electric vehicles technologies, commencement of advanced technologies in electric vehicles, increase in the demand for fuel efficient, high performance, and low emission vehicles coupled with government incentives to promote use of electric vehicles are the factors expected to fuel the global smart electric drive market. However, the market growth is restricted by factors such as maintaining & achieving optimum weight-to-power ratio and high cost of smart e-drive systems. Global smart electric drive is facing some of challenges that include inadequate charging infrastructure for electric vehicles in emerging countries and developing fail-safe electronic and electrical components. However, the market is having immense opportunities over the forecast period (2017-2024) such as increase in demand for electric buses and trucks and integrated mobility solutions and ride-hailing.
Global smart e-drive market report segmented into components, application, drive type and commercial vehicles. Further, components segment has been divided into battery, motor generator, power electronics and e-brake booster. Global battery market is accounted as dominant segment in 2017 in terms of revenue. The application segment covers two sub segments such as e-Axle and wheel drive. Wheel drive market is expected to witness the fastest growth rate over forecast period. Lastly, commercial vehicles segment has been sub divided into electric trucks and electric buses.
Geographically, global smart e-drive market has been bifurcated into North America, Europe, Asia Pacific and Rest of World (RoW). North America accounted as dominant region in 2017 in terms of revenue. High penetration of electric vehicles, technological advancements and adequate charging infrastructure are the major factors justifying the dominance of North America. However, Europe is expected to witness the fastest growth rate over forecast period (2017-2024). High research & development spending in battery technology, strict emission regulations and high demand of electric vehicles justify the fastest growth rate of Europe smart e-drive market till 2024. The major key players of smart electric drive market are Daimler AG, GKN (UK), Robert Bosch (Germany), Hyundai Mobis (South Korea), Tesla Motors (U.S.) and others. These companies are adopting various strategies such as merger & acquisition, collaboration, partnership, agreement and product launch. Whereas, product launch is the key strategy adopted by companies in global smart e-drive market.
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