Smart Electric Drive Market

Global Smart Electric Drive Market Size (2024 to 2029)

The global smart electric drive market size is expected to reach USD 30.77 billion in 2024 and reach USD 135.34 billion by 2029, growing at a CAGR of 34.48% from 2024 to 2029.

A smart electric drive is an advanced integrated version that uses the battery as its power source and provides direct drive to the vehicle, making driving smooth and safe on the road. The smart e-Drive consists of a battery, a generator, an electric brake booster, and a brake booster. It ensures efficient driving while saving energy. Daimler AG has launched a smart electric vehicle equipped with smart e-Drive technology.

Current Scenario of the Global Smart Electric Drive Market

The global smart electronic drive market is expected to experience significant growth in the coming years due to the implication of stringent government emission standards and regulations in the automotive industry worldwide. In addition, the rising demand for hybrid and electric vehicles, with the aim of reducing carbon emissions, is another reason that is supposed to drive the growth of the market. Additionally, advancements in the truck platoon and integrated mobility solutions, which will likely utilize hybrid and electric cars for ideal operation, are foreseen to drive demand for smart electronic transmission systems.

MARKET DRIVERS

Y-o-Y growth in the demand for electric vehicles is likely to be a key factor propelling the growth of the global smart electric drive market.

The implementation of strict emissions standards in the automotive industry and the concerns of global regulators are also estimated to increase the market. The smart e-Drive can satisfy factors such as weight reduction and space for other applications. Many advantages, such as high reliability, compact size, higher torque generation, and more integrated features, are determined to drive the automotive smart e-drive market during the conjecture period. This should provide lucrative opportunities for the auto industry.

MARKET RESTRAINTS

The higher cost of the system is supposed to hamper the worldwide smart e-Drive market. Also, in developing countries, the smart vehicle infrastructure is poor, acting as a brake on the growth of the industry in these countries around the world.

Impact of COVID-19 on the Smart Electric Drive Market

The new coronavirus pandemic has slowed automobile manufacturing with a complete day lockdown across several countries. The coronavirus pandemic is having an unforeseen impact in all sectors due to the disruption of the supply chain and production. For the electric vehicle (EV) industry that relies on China for the import of cells, batteries, and other electronic components and sensors, it is a period of a prolonged recession. Electric vehicle players have witnessed a deep pact due to the coronavirus outbreak in China. Now China is said to be in action again, but manufacturing is still stagnant in some nations. The closure has resulted in a disruption in supply chains and making. While demand will decline across all categories, the impact of vehicles may be less than our fossil fuel peers.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Smart Electric Drive Market Analysis By Components

The battery segment is foreseen to record the largest share and fastest development over the outlook period. In the current scenario, the cost of the battery is very high, which is almost a third of the total price of the vehicle. However, due to the rapid improvement in battery technology, the price of the battery is falling dramatically.

Global Smart Electric Drive Market Analysis By Application

Among these, the E-axis segment represents a significant share compared to other segments. The E-axis is the evolution of the conventional axis where the electric motor and gearbox are housed in a single unit on the axis and eliminate the combustion engine.

Global Smart Electric Drive Market Analysis By Drive Type

Among all categories based on the drive type, all-wheel drive (AWD) is the leading category and is supposed to continue to dominate this segment during the outlook period due to its advantages, including the advantages of front-wheel drive (FWD) and rear-wheel drive (RWD). Additionally, growing demand for improved traction, acceleration, and towing capabilities in vehicles has driven demand for all-wheel drive-equipped sport utility vehicles (SUVs) and multiple utility vehicles (MUVs). Additionally, with the growing demand for electric and hybrid SUVs and MUVs, the AWD category is estimated to dominate the smart electronic drive market for years to come.

 REGIONAL ANALYSIS

Among all regions, Europe represents a significant part of the global smart electric drive market, due to the high adoption rate of smart e-Drive and the improvement of infrastructure in the automotive industry of this region. The automotive industry has developed in this area, especially in Germany, the United Kingdom, France, and Italy due to the rapid technological developments in the region. The smart e-drive market growth is also driven by government subsidies for electric vehicles in the locale during the forecast period.

KEY MARKET PLAYERS

The global Smart electric drive market is concentrated with well-established players. Key Players in the market include  GKN, Magna, Continental, Siemens, Schaeffler, ZF, Mahle, Robert Bosch, Borgwarner, Hitachi, Hyundai Mobis, Aisin Seiki, and Infineon. some of the market players dominate the global smart electric drive market.

RECENT HAPPENINGS IN THE GLOBAL SMART ELECTRIC DRIVE MARKET

• GKN's new coaxial electric axle system, the "eTwinsterX", is now in the prototype stage, with an example of operational work on a demonstration vehicle during the GKN Driveline "Wintertest" technical exhibition. The twister system was first unveiled at the 2017 IAA Frankfurt Motor Show and features an integrated electric motor, high-efficiency two-speed electronic transmission, and torque vectoring capability with GKN's unique "Twinster" clutch technology.
• Magna reported its goal to shape two new joint endeavours with Beijing Electric Vehicle Co. Ltd. (BJEV) for complete vehicle manufacturing just as electric vehicle designing.
• Continental Automotive India sees potential for faster growth in the electrification of the Indian two-wheeler market, particularly scooters.

DETAILED SEGMENTATION OF THE GLOBAL SMART ELECTRIC DRIVE MARKET INCLUDED IN THIS REPORT

This research report on the global smart electric drive market has been segmented and sub-segmented based on components, applications, drive type, commercial vehicles, two-wheelers and Region.

By Components

• Battery
• Motor Generator
• Power Electronics
• E-Brake Booster

By Application

• e-Axle
• Wheel Drive

By Drive Type

• Front Wheel Smart Electric Drive
• Rear Wheel Smart Electric Drive
• Wheel Smart Electric Drive

By Commercial Vehicles

• Electric trucks
• Electric buses​​​​​​​

By Two Wheelers

• e-Cycle
• e- Scooter
• e-Bikes​​​​​​​

By Region

• North America
• Europe
• Asia-pacific
• Middle-east and Africa
• Latin America