The global smart e-drive market is predicted to have a significant growth at an astounding 20% CAGR over the estimated years (2017-2023). Smart e-drive simply put, is an advanced and innovative version of conventional electric drive systems. Here the battery is used as the source of power and offers direct transmission in the car as a result of which driving becomes safe and smooth on the road. The specialty of smart e-drive is that it offers efficient driving via saving energy. It includes a power booster, electric brake booster, motor generator and battery.
There are ample factors that is boosting the growth of the smart e-drive market. These factors as stated by the Market Research Future (MRFR) report include growing demand for electric and hybrid vehicle, introduction of strict rules and regulations via various governments, tax benefits, increasing concerns about environmental pollution, availability of eco-friendly cars and incentives to manufacturers that provide original equipment for electric vehicles. The additional factors fueling the market growth include advancements in mobility solutions namely truck platooning, IoT based fleet management, integrated mobility solutions and smart transportation, drop in vehicle weight, maximum space utilization, various benefits namely higher torque generation, compact size and high reliability and other built-in functionalities. Global warming is a threat to both human life and the environment. Thus, the emergence of environmentally friendly vehicles plays a major part to boost the sales of smart e-drive. On the contrary, scarcity of charging infrastructure, high cost of components and necessary technologies, lack of reliability, and long-term ROI are factors that may hinder the growth of the smart e-drive market over the estimated years.
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Market Segmentation
MRFR report offers a wide segmental analysis of the smart e-drive market on the basis of drive type, component, battery type and application.
Based on application, it is segmented into wheel drive and e-axle. Of these, e-axle will have the largest share in the market over the estimated years.
Based on drive type, the smart e-drive market is segmented into solid-state battery, nickel-based battery, lithium-ion and lead-acid. Of these, lead-acid battery will dominate the market over the estimated years.
Based on component, it is segmented into power electronics, motor, inverter, e-brake booster and battery. Of these, battery will lead the market over the estimated years.
Based on drive type, the smart e-drive market is segmented into rear wheel drive, front wheel drive and others.
Regional Analysis
By region, the smart e-drive market covers growth opportunities and latest trends across Rest of the World, Europe, North America and Asia Pacific. Of these, Europe will command the market over the estimated years. This is owing to consumers high purchasing power, burgeoning demand for electric, hybrid and plug-in hybrid vehicles, presence of leading electric vehicle manufacturers, stringent emission control regulations laid down by the government in the European countries and rapid technological advancements in batteries. The UK, Italy, Germany and France are the key contributors here. The smart e-drive market in North America is also a vital market. This is owing to the presence of several important automakers in the USA, consumers high purchasing power, government regulations to reduce carbon emissions, established automotive industry and technological advancement. Canada is the next biggest contributor here after the USA. The smart e-drive market in the APAC region will have a healthy growth over the estimated years. This is owing to consumers rising disposable income and increasing awareness regarding environmental concerns.
Key Players
Leading players profiled in the smart e-drive market include UQM Technologies (USA), SINOEV (USA), Siemens (Germany), Shanghai Edrive (China), Schaeffler (Germany), Robert Bosch (Germany), Infineon (Germany), Efficient Drivetrains (USA), Continental (Germany), BorgWarner (USA), Aisin Seiki (Japan) and others.
May 2019- Williams Advanced Engineering and Triumph have joined hands with WMG and Integral Powertrain to build electric motorcycles. This partnership is likely to bring more electric motorcycles thereby making it a win for numerous government agencies that are tasked to reduce vehicle emissions and road congestion.
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