Press release
Smart e-Drive for Automotive Market SWOT Analysis, Key Development And Forecasts Till 2031
Smart e-Drive for Automotive: IntroductionA smart e-drive is an advanced integrated version of the conventional electric drive system. Smart e-drive uses the battery as a power source and provides direct transmission in the vehicle, which makes driving smooth and safe on the road. The smart e-drive includes a battery, motor generator, electric brake booster, and power booster. It provides better driving by saving energy. Daimler AG launched a smart electric drive vehicle that is equipped with smart e-drive technology.
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Key Drivers of Global Smart e-Drive for Automotive Market:
Rise in demand for hybrid and electric vehicles, with an objective to reduce carbon emission is another reason, is anticipated to propel the market. Furthermore, advancement of truck platooning and integrated mobility solutions, which use hybrid and electric automobiles for ideal functioning, are expected to boost the demand for smart e-drive systems. This, in turn, drives the smart e-drive
for automotive market across the globe.
Implementation of stringent norms on the automotive industry regarding emission and concerns by global regulatory bodies are also anticipated to augment the smart e-Drive for automotive market.
Increase in demand for electric vehicles, strategic initiatives by several key players, and government initiatives to increase the sale of electric vehicles are key factors that are expected to boost the demand for smart e-drive for automotive during the forecast period
The trend of urbanization is growing at an exponential rate, which is leading to increase in the average income of urban population, enabling them to enhance their lifestyles. Furthermore, a rise in the demand for passenger cars is prompting manufacturers to increase the production of vehicles, which in turn is boosting the smart e-drive for automotive market across the globe.
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Global Smart e-Drive for Automotive Market to Offer Attractive Opportunities:
Weight reduction and space for other applications can be fulfilled by smart e-Drive. Numerous benefits such as high reliability, compact size, higher torque generation, and more built-in functionalities are estimated to boost the smart e-Drive for automotive market during the forecast period. This is expected to provide lucrative opportunities for the automobile industry.
Challenges of Global Smart e-Drive for Automotive Market:
Higher price of electric cars, higher investment to develop smart e-drive for automotive, and lack of awareness regarding electric vehicles are key factors that propel the smart e-drive for automotive market across the globe.
Stringent norms and regulations enacted by several governments for the development and manufacture of electric vehicles have led to the production of electric vehicles in some countries, which in turn is estimated to restrain the smart e-drive for automotive market across the globe
Europe to Hold Significant Share of Global Smart e-Drive for Automotive Market:
Europe accounts for a major share of the global smart e-drive for automotive market, owing to the high rate of adoption of smart e-drive and upgrade of infrastructure in the region. The automotive industry has been expanding in the region, especially in Germany, U.K., France, and Italy owing to rapid technological developments in the region. The smart e-drive market is also projected to expand during the forecast period due to government subsidies on electric vehicles in the region.
Key Players Operating in Global Market:
The global smart e-drive for automotive market is highly fragmented with top manufacturers across the global market. A few of the key players operating and potential in the global smart e-drive for automotive market are:
Robert Bosch GmBH
ZF Friedrichshafen AG
Siemens AG
GKN PLC
Hitachi, Ltd.
Magna International Inc.
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