Smart Electric Drive Market Growth Prospects, Key Vendors, Future Scenario Forecast to 2028

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.

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Companies Profiled in this report includes:  Continental AG, GKN Plc., Hitachi Vantara Corporation, Hyundai Mobis, Magna International, Mahle GmbH, Robert Bosch GmbH, Schaeffler Group, Siemens AG, ZF Friedrichshafen AG

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.

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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.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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