Press release
E-Drive for Automotive Market Sets the Table for Continued Growth
E-Drive for Automotive Market
As the global automotive industry shifts toward electrification, the E-Drive for Automotive Market is witnessing significant growth driven by the increasing demand for electric vehicles and advancements in e-drive technologies.
The rising call for a clean energy economy is estimated to influence e-drive for automotive market 2024. The ICE, electric, hybrid, autonomous vehicles reports are produced by Market Research Future, which contains market alternatives for progress. The income created in the market is estimated to be of USD 24902.38 million by the end of 2032.
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The global warming concerns are rising, and the automotive industry has been at the centre of the need to transform to reduce pollution. This development has been projected to create a scope for the e-drive for automotive market in the upcoming period. The pro-environmental stance taken by global governments and market stakeholders is estimated to drive the options for growth in the approaching period.
Segmental Analysis
The segmental investigation of the e-drive for automotive market is segmented
Based on drive type, product, electric vehicle type and region. Based on the drive type, the e-drive for automotive market is segmented into rear-wheel drive, front-wheel drive and all-wheel drive.
Based on product, the e-drive for automotive market is segmented into battery, e-brake booster, power electronics, motor and others. Based on the electric vehicle type, the e-drive for automotive market is segmented into hybrid electric, battery electric and plug-in hybrid electric vehicles. Based on the regions, the e-drive for automotive market is segmented into Latin America, Europe, North America, the Middle East, Africa and the Asia Pacific.
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Detailed Regional Analysis
The regional investigation of the e-drive for automotive market includes regions such as Latin America, Europe, North America, the Middle East, Africa and the Asia Pacific. The increasing vehicle manufacture across the globe has set in motion the growth of the e-drive for automotive market.
In addition, the strict controlling norms, particularly in the European region, have fueled the progress of the e-drive for automotive market. The regional market in the Asia Pacific is the second leading region in the e-drive for automotive market due to reasons such as progress in the manufacture of LCV and passenger cars in the emerging economies of the region. The administrations of several nations have also taken steps to intensify the transactions of e-drive. The nations such as Singapore, Indonesia, India, Brazil, and the MEA region, are planning to advance more and have received numerous E-Drive manufacturers to set up production plants.
Competitive Analysis
The emphasis on innovation is estimated to rise in the coming years, as the consumer needs have to be addressed in a better manner to ensure the resurgence of the global market. Also, the need to encourage business to include the environmental impact of their decisions is estimated to shape the development of the market in future.
The capability of contenders to influence change in the market is increasing at a stable rate in the impending period. The support from government bodies around the world is rising because the market needs an extra stimulus to achieve normalcy in such a scenario. The disharmony in the forces of demand and supply is estimated to create a slow growth background in the market.
The need to mitigate losses sustained by the current public health crisis is estimated to be the sole focus of the market contenders in the upcoming years. Furthermore, the need to adopt a rapid and cost-effective method of operation is estimated to shape the market in the impending period.
Market key players:
MAHLE GmbH
DANA TM4 INC.
ZF Friedrichshafen AG
Robert Bosch
Continental AG
Magna International Inc.
Valeo SA
BorgWarner Inc.
AISIN CORPORATION
Denso Corporation
Automotive E Drive Industry Developments
In January 2024, Magna has introduced its latest 800V eDrive solution at CES 2024, showcasing a product that the company claims "establishes new benchmarks in efficiency, power-to-weight ratio, and torque density." This unveiling marks a significant milestone in Magna's commitment to advancing electric propulsion technology and underscores its dedication to pushing the boundaries of performance and innovation in the automotive industry.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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