The amplified production of hybrid and electric vehicles is predicted to encourage market growth. Reports that judge the automobile industry has been offered by Market Research Future, which generates reports on industry verticals that judge the market development and possibilities. A CAGR of 20 % approximately is estimated to reinvigorate the market in the upcoming period.
The change in rules and regulations by various governments is projected to play a key role in the growth of the smart e-drive market. The emphasis on the reduction of carbon emissions globally is expected to sway customer demand towards the smart e-drive market in the approaching period. Additionally, the tax benefits and incentives being offered towards the adoption of eco-friendly vehicles are anticipated to push the smart e-drive market in the impending period.
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Segmental Analysis
The segmentation of the smart e-drive market is conducted on the basis of applications, battery type, component, drive type, and region. On the basis of applications, the smart e-drive market has been segmented into wheel drive and e-Axle. On the basis of types of battery, the market for smart e-drive has been segmented into nickel-based, Lithium-ion, lead acid, and solid-state battery. On the basis of component, the smart e-drive market has been segmented into e-brake booster, motor, power electronics, inverter, and battery. On the basis of drive type, the smart e-drive market is segmented into rear-wheel drive, front-wheel drive, and others. Based on the region, the smart e-drive market is segmented into Europe, North America, Asia Pacific and other areas of the world.
Detailed Regional Analysis
The regional study of the smart e-drive market covers regions such as Europe, North America, Asia Pacific and other areas of the world. As per the study, the European region is anticipated to lead the smart e-drive market in the forecast period due to aspects such as launch of severe emission control regulations by the administration in the region, the speedy progress in the technology for batteries and the flourishing demand for electric, plug-in hybrid and hybrid vehicles in the region. Moreover, the incidence of a huge number of electric vehicle producers in the region is anticipated to motivate the development of the smart e-drive market in the European region.
Competitive Analysis
The market is also improving in several efforts to brace itself while fortifying its position against the slowdown in the global economy. Moreover, the emphasis is also being placed on the backend processes by integrating tools that can enhance the productivity of the market in the forecast period. A burgeoning user base is expected to play an instrumental role in the progress of the market in the approaching period.The market has established a proper tone for the development that is to be undertaken in the upcoming period. The market players are crafting strategies that deliver a high output rate from existing resources or don’t require a massive investment to obtain. The assets are continually being assessed to ensure that functioning is at an optimum level while keeping breakdowns at a bare minimum. The geopolitical factors are expected to play a critical role in the long-term expansion of the market in the upcoming period.
The well-known players in the smart e-drive market are Robert Bosch (Germany), Aisin Seiki (Japan), Siemens (Germany), Continental (Germany), BorgWarner (US), UQM Technologies (US), Infineon (Germany), Efficient Drivetrains (US), Schaeffler (Germany), Shanghai Edrive (China) and SINOEV (US).
Industry Updates:
June 2019 Flipkart, a major E-commerce player recently stated that it had plans to announce electric vehicles for its closing mile deliveries. Flipkart intends to substitute closely 40 percent of its current last-mile fleet of delivery vans with EVs by March 2020, beginning with closely 160 electric vans to be positioned across towns by this year-end.
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