Smart Electric Drive Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Smart Electric Drive system is advanced version of traditional electric drive system. A smart electric drive uses battery as the source of power and offers direct transmission to the vehicle, thus making driving safer and smoother. It majorly consists of a motor generator, battery, power booster and electric brake booster. This electric drive provides higher efficiency and saves considerable amount of energy. Demand for smart electric drive system is expected to boost during the forecast period.

MARKET SCOPE

The "Global Smart Electric Drive Market Analysis to 2031" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the smart electric drive market with detailed market segmentation by component, application, drive type and geography. The report provides key statistics on the market status of the leading smart electric drive market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on component, the global smart electric drive market is segmented into battery, electric motor, inverter unit, e-brake booster and power electronics.
  
•   On the basis of application, the market is segmented into e-axle and wheel drive.
  
•   Based on drive type, the market is bifurcated into front wheel drive, rear wheel drive and all wheel drive.
  

MARKET DYNAMICS

Drivers:

•   Encouragement from governments’ in form of subsidies and tax exemption.
  
•   Inclination towards clean technology.
  
•   Better driving experience and higher efficiency.
  

Restraints

•   Lack of required infrastructure for electric drive vehicles.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smart electric drive market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smart electric drive market in these regions.

IMPACT OF COVID-19 ON SMART ELECTRIC DRIVE MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Due to outbreak of this pandemic, movement of people is restricted. This has impacted the demand for electric vehicles, thus resulting in decline in production of smart electric drive components. However, after the situation get back to normal, this market is expected to witness a promising growth.

MARKET PLAYERS

The report covers key developments in the smart electric drive market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from smart electric drive market are anticipated to lucrative growth opportunities in the future with the rising demand for smart electric drive in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the smart electric drive market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Continental AG
  
•   GKN Plc.
  
•   Hitachi Vantara Corporation
  
•   Hyundai Mobis
  
•   Magna International
  
•   Mahle GmbH
  
•   Robert Bosch GmbH
  
•   Schaeffler Group
  
•   Siemens AG
  
•   ZF Friedrichshafen AG
  
  

The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Smart Electric Drive Report Scope