Smart E-Drive Market Research Key Players, Industry Overview and Forecasts to 2027 | Allied Market Research

Smart E-Drive Market Outlook – 2027

The growing emphasis of automobile manufacturers to search for an alternative to fossil fuel to reduce carbon footprints is primarily driving the market for electric vehicles. A smart E-drive is an advanced version of conventional electric drive system which utilizes battery as a power source. Additionally,the drivetrain installed in the smart E-drive utilizes brushless DC motor technology. Moreover, the drivetrain design integrates the electric motor, power and control electronics, into one compact assembly. The electric engine is located in the rear, installed into the three engine mounts exactly where the combustion engine would be in a conventional vehicle.

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COVID-19 scenario analysis:

The novel coronavirus pandemic has put brakes on the manufacturing sectors worldwide.
The coronavirus pandemic is having an unanticipated impact on every sector due to disruption in the supply chain and production.
China is one of the important countries in manufacturing of electric vehicle and electric vehicle components. As China was the epicenter of the pandemic, the slowdown of electric vehicle has prolonged due to component shortage.
However, the impact of COVID-19 would be lesser on smart E-drive system than internal combustion engines due to control over carbon emission in smart E-drive vehicles.
Besides, decreased consumer spending will fuel smart E-drive market as the cost per mile is less as compared to fossil fuel vehicles.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis

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Rapid increase in sales of electric vehicles is driving the market for smart E-drive market. Additionally, the stringent government norms and regulations regarding emission concerns is fueling the market growth. Moreover, the factors that favor smart E-drive over conventional vehicles are cost-effectiveness, noise reduction, lower maintenance cost, reduced vibration, availability of instant torque and higher efficiency. Besides, unceasing technological developments is propelling the market growth. However, high cost of technologies is hindering the smart E-drive market. Furthermore, heavy investment in development of EV infrastructure is proliferating the smart E-drive market.

The Smart E-Drivemarket trends are as follows:

Partnerships to fuel adoption of smart E-drive

The electric vehicle landscape has immense opportunities in future of mobility. However, development of infrastructure is still an issue related to electric vehicle. To setup infrastructure for deploying electric vehicles, the firms are partnering to provide the solutions. In 2020, Kinetic green energy and power solutions, manufacturer of electric vehicles, signed an agreement with BPCL for providing electric vehicle mobility solution based on swappable battery technology. Under the alliance, a range of electric three wheelers, specially designed for facilitating swappable battery and a two-minute battery swap will be deployed by Kinetic Green and BPCL.

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Increasing investment to drive the market.

Development of smart E-drive is dependent on investment of infrastructure. To reduce the carbon emission, governments around the world are promoting the sales of electric vehicles. Moreover, the governments are offering subsidies to electric vehicle owners and investing to develop public charging stations. For instance, in 2018, three states of the U.S. viz. California, New York and New jersey announced investment of $ 1.3 billion for the widespread of electric vehicles.

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