e-Corner Market: Current Analysis and Forecast (2024-2032)

The e-Corner Market is witnessing a robust growth rate of around 30% within the forecast period. Emerging technologies have the power to transform the automotive industry for both OEMs and dealers. One such transformation is known as e-Corner, which is supported by the burgeoning adoption of electric vehicles. The e-corner market has been a paradigm change factor in the freedom of vehicles and has brought a significant change in the design, production, service, and operation of automobiles. Till the present, forward and backward driving along with life and right-direction movement were the restrictions for automobiles. However, with the e-corner system, which is the core technology for future mobility, the conditions of movement and driving have changed; crab driving moves life or right or forms a dimension of 360° rotation on the spot. Such intricate moves are possible with the next technology, which combines driving, braking, steering, and suspension systems as components in each wheel of the vehicle. E-corner systems can be used in mobility solutions, such as shuttles going into and out of the city center, robot taxis, logistics vehicles, and commuting vehicles.

Based on motor configuration, the e-corner market is segmented into trimotor and quad-motor. In 2023, quad-motor configurations dominated the market and are expected to maintain their position throughout the forecast period. Quad motor systems provide better performance, accurate torque control, and application flexibility in intense conditions such as urban mobility, autonomous vehicles, and electric commercial vehicles. Such systems support independent control of each wheel, enabling such features as crab walking, pivot turns, and zero-turn. These features become increasingly important in modern transportation scenarios. The demand for e-Corner systems because of the demand for convenience, future-ready smart mobility solutions, and, above all, the ongoing smart city initiatives have further been accentuated. Through their integration with AI-driven control systems, IoT-enabled sensors, and autonomous capabilities, these designs are rapidly morphing to suit urban environments where efficiency in space use, safety, and maneuverability become determinants of their presence.

Based on vehicle type, the market is segmented into passenger vehicles and light commercial vehicles. The passenger vehicle segment dominated the e-corner market in 2023 and is expected to dominate in the forecast period. The growing propensity towards advanced mobility for electric passenger vehicles is presently a preference for passengers preparing to engage in an increasingly urbanized demand for more efficient transportation. Passenger vehicles equipped with e-Corner systems are beneficial to offer capabilities enhanced maneuverability, compact adaptation to space as well as novel operations like crab walking, pivot turning, and zero-radius turning. Observer that these capabilities make vehicles with e-Corner equipped passenger worthy in overcoming clogged thoroughfares in urban locales or quite small parking spaces and exactly fits the future requirements considering intelligent next-generation cities. The demand for efficient last-mile delivery and the growing interest in electrified logistics vehicles have also spurred the adoption of e-Corner systems in light commercial vehicles. Other benefits of e-Corner modules in LCVs are better handling, efficient load transfer, and better maneuverability through challenging delivery environments like narrow streets or loading docks.

For a better understanding of the market of the e-corner market, the market is analyzed based on its worldwide presence in countries such as North America (The US, Canada, and Rest of North America), Europe (Germany, The UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The Asia Pacific (APAC) region not only dominated the entire e-corner market but also emerged as the frontrunner during the entire forecast period. It is because the region is urbanizing at a rapid pace and the growing adoption of electric vehicles (EVs), complemented by a strong automotive manufacturing ecosystem developed in the region as well as several government initiatives that promote clean and smart mobility, which supported such a form of market dominance. This growth of the e-Corner market in the region is mainly driven by the increasing demand for electric corner modules in luxury vehicles, for example, Yangwang U8 & U9, which are developed based on BYD's e4 platform. The Asia Pacific region is taking the lead in the adoption of electric corner modules, where countries such as China, South Korea, and Japan play fundamental roles in the transformation brought about by such technology. The leading e-corner manufacturers, such as Hyundai Mobis, integrate their e-corner module into vehicles such as the Hyundai IONIQ 5N and upcoming IONIQ 7. Moreover, Chinese firms, such as others, are also bringing electric corner modules into light, adapted for use in maneuverable electric light commercial vehicles and autonomous delivery systems.

Some of the major players operating in the market include Schaeffler AG, Protean, Hyundai Motor Group, REE, Elaphe LTD, and Continental AG.