Press release
Smart E-Drive Market Analysis : Technological Advances, Key Players & Growth Prospects (2023-2032)
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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
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.
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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.
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.
Key benefits of the report:
This study presents the analytical depiction of the smart E-Driveindustry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
The current market is quantitatively analyzed to highlight the growth scenario.
Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed Smart E-Drivemarket analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions answered in the smart E-drive market research report:
Which are the leading market players active in the Smart E-Drivemarket?
What are the current trends that will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What are the projections for the future that would help in taking further strategic steps?
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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