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Increasing Demand for Electric & Hybrid Vehicles to Drive the Smart Electric Drive Market

OEMs and battery manufacturers are working towards development of high energy density battery to deliver more distance coverage on a single charge. Lithium-ion batteries are the most widely used battery technology in electric, hybrid, and plug-in hybrid electric vehicles for their features like low self-discharge, good high temperature efficiency, high energy performance, and high power-to-weight ratio compared with other battery technologies such as lead acid and Nickel-Metal Hybrid. Since the automotive industry is moving towards electric and hybrid vehicles, the battery market is booming.

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Increasing Demand for Electric & Hybrid Vehicles to Drive the Smart Electric Drive Market

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  1. Alternate Materials & Overall Weight Reduction to Open New Avenues in Electric Vehicles Technologies The report "Smart Electric Drive Market by Vehicle Type (BEV, HEV, PHEV, Electric Bus, Truck), Component (Power Electronics, E-Brake Booster, Inverter, Motor, Battery), Application (E-Axle, Wheel Drive), Drive (FWD, RWD, AWD), and Region - Global Forecast to 2022", The smart electric drive market for automotive, by value, is projected to grow at a CAGR of 32.00% from 2017 to 2022, to reach USD 1,468.2 Million by 2022. Factors such as rising focus on stringent CO2 emissions norms, vehicle weight reduction, government initiatives, and increase in sales of green vehicles are projected to fuel the demand for smart electric drive technologies. Browse 113 Market Data Tables and 59 Figures spread through 169 Pages and in-depth TOC on "Smart Electric Drive Market by Vehicle Type (BEV, HEV, PHEV, Electric Bus, Truck), Component (Power Electronics, E-Brake Booster, Inverter, Motor, Battery), Application (E-Axle, Wheel Drive), Drive (FWD, RWD, AWD), and Region - Global Forecast to 2022" https://www.marketsandmarkets.com/Market-Reports/smart-e-drive-market-208155014.html Early buyers will receive 10% customization on reports. “Battery market to be the largest market among smart electric drive components” Battery is the power source for any smart electric drive system. Presently, battery costs almost one third of the total BEV price. It is observed that the battery price has shown a decline of 20% from 2011 to 2016. Hence, considering the rapid improvements in the battery technology, the price of the battery is projected to decrease significantly over the period of next five to eight years. OEMs and battery manufacturers are working towards development of high energy density battery to deliver more distance coverage on a single charge. Lithium-ion batteries are the most widely used battery technology in electric, hybrid, and plug-in hybrid electric vehicles for their features like low self-discharge, good high temperature efficiency, high energy performance, and high power-to-weight ratio compared with other battery technologies such as lead acid and Nickel-Metal Hybrid. Since the automotive industry is moving towards electric and hybrid vehicles, the battery market is booming. “E-Wheel drive market to grow at the fastest pace in the smart electric drive market” With the rising concerns about the factors like zero emission, vehicle weight reduction, and the need for space for other applications, the demand for e-wheel drive is likely to increase in the near future. E-Wheel drive is directly mounted on the wheel rim, which houses the brakes, motor, inverter, and power electronics fitted inside the rim. Schaeffler (Germany) is the key player operating in the e-wheel drive segment and has tested its e-wheel drive on Ford Fiesta models. The major benefit of e-wheel drive is the increase in space availability in the vehicle as many components are moved to wheel. It increases the space up to 50%, which gives the design flexibility. Since e-wheel drive is installed in the wheel, it delivers direct transmission to the road, which makes driving speedy and safe. Thus, owing to these benefits of the e-wheel drive, its market is expected to have exponential growth in the near future. Get a sample copy of report “Presence of large number of EV manufacturers and strict emission regulations would drive the European smart electric drive market”

  2. The European region is estimated to be the fastest growing smart electric drive market during the forecast period. The market growth in the region can be attributed to the presence of many established manufacturers such as GKN (UK), ZF Friedrichshafen (Germany), Robert Bosch (Germany), MAHLE (Germany), Continental (Germany), and Siemens (Germany). Also, the strict emission regulations, rapid improvement in battery technology, and increasing demand for electric, hybrid and plug-in hybrid electric vehicles will boost the market for smart electric drive in the region. The key companies profiled in the study are Siemens (Germany), Hitachi (Japan), Robert Bosch (Germany), Continental (Germany), ZF Friedrichshafen (Germany), HYUNDAI MOBIS (South Korea), AISIN SEIKI (Japan), Magna (Canada), Schaeffler (Germany), MAHLE (Germany), GKN (UK), BorgWarner (US), Infineon (Germany), Dana (US), Linamar (Canada), American Axle (US), AVL (Michigan), PUNCH POWERTRAIN (Belgium), WRIGHTSPEED (US), TM4 (Canada) , UQM TECHNOLOGIES (US), Efficient Drivetrains (US), Shanghai Edrive (China), SINOEV (US), and Magnetic Systems (UK). Speak to our Analyst About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com

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