According to a new report published by Allied Market Research, titled, โE-Drive for Automotive Market,” The e-drive for automotive market was valued at $9.6 billion in 2021, and is estimated to reach $21.5 billion by 2031, growing at a CAGR of 8.8% from 2022 to 2031.
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Factors such as superior traction than other drivetrain systems, less expensive type of drivetrain than that of RWD or AWD, better handling performance than other drivetrain types, and reduced power consumption, owing to significant traction propel the growth of the FWD segment in e-drive for automotive market.
Covid-19 scenario:
- The Covid-19 pandemic forced governments across the globe to implement strict lockdowns and impose ban on import-export of essential raw materials items. This sudden decline in availability of raw materials for vehicle components disrupted the supply chain.
- The disrupted supply chain negatively impacted the sales of automotive constant velocity as they are directly linked with automotive manufacturing and sales operations.
๐๐ป๐๐ฒ๐ฟ๐ฒ๐๐๐ฒ๐ฑ ๐๐ผ ๐ฃ๐ฟ๐ผ๐ฐ๐๐ฟ๐ฒ ๐๐ต๐ฒ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐? ๐๐ป๐พ๐๐ถ๐ฟ๐ฒ ๐๐ฒ๐ณ๐ผ๐ฟ๐ฒ ๐๐๐๐ถ๐ป๐ด – https://www.alliedmarketresearch.com/purchase-enquiry/31862
Moreover, lower maintenance cost, greater fuel-efficiency, owing to its reduced weight, better traction over slippery roads, and adoption of FWD vehicles in snowy region propel the growth of the FWD segment in market. In addition, several companies are launching new e-drives in the market, which fuel the growth of the market. For instance, in 2020, General Motors introduced five e-drives units under the name Ultium Drive for General Motorsโ electric cars. The e-drive will be able to power vehicles equipped with front wheel drive, rear wheel drive, and four-wheel drive.
The growth of the global e-drive for automotive market is propelling, due to stringent government rules and regulations toward vehicle emission and rise in demand for electric vehicles. However, high cost of e-drive systems is the factor hampering the growth of the market. Furthermore, technological advancements is the factor expected to offer growth opportunities during the forecast period.
Key players operating in the global e-drive for automotive market include Aisin Corporation, BorgWarner Inc., Continental AG, Hitachi Ltd., Magna International Inc., Melrose Industries PLC, Nissan Motor Co., Ltd., Robert Bosch GmbH, Schaeffler AG, Siemens AG, Toyota Motor Corporation, and ZF Friedrichshafen AG.
KEY FINDINGS OF THE STUDY
- By electric vehicle type, the battery electric vehicle segment is anticipated to exhibit significant growth in the near future.
- By vehicle drive type, the rear wheel drive segment is anticipated to exhibit significant growth in the near future.
- By application, the commercial vehicles segment is anticipated to exhibit significant growth in the near future.
- By region, Europe is anticipated to register the highest CAGR during the forecast period.
๐ฃ๐ฟ๐ผ๐ฐ๐๐ฟ๐ฒ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐ ๐ฎ๐ https://www.alliedmarketresearch.com/e-drive-for-automotive-market/purchase-options