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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. 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 www.MarketsandMarkets.com

  2. 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. PDF Brochure : https://www.marketsandmarkets.com/pdfdownload.asp?id=208155014

  3. 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. Request for Customization : https://www.marketsandmarkets.com/requestCustomization.asp?id=208155014

  4. The study segments the smart electric drive market, by component into battery, E-brake booster, motor, inverter, and power electronics. The battery segment is estimated to be the largest and fastest growing market during the forecast period. In the present scenario, the cost of the battery is very high, which accounts for almost one-third of the total vehicle price. However, due to rapid improvement in battery technology, the price of the battery is decreasing drastically. The smart electric drive market is also segmented by applications (e-axle and e-wheel drive). With the rising demand for an increase in vehicle space and design flexibility, the wheel drive market is projected to grow at the highest rate during the forecast period. The market for e-axle is estimated to have the largest market share due to vehicle electrification, increase in fuel economy, and overall vehicle efficiency. Request Sample @ https://www.marketsandmarkets.com/requestsample.asp?id=208155014

  5. Presence of large number of EV manufacturers and strict emission regulations would drive the European smart electric drive market” 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 analyst @ https://www.marketsandmarkets.com/speaktoanalyst.asp?id=208155014

  6. Market Ecosystem: The ecosystem of the smart electric drive market for automotive consists of manufacturers and Tier 1 suppliers such as 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 (US), PUNCH POWERTRAIN (Belgium), WRIGHTSPEED (US), TM4 (Canada), UQM TECHNOLOGIES (US), Efficient Drivetrains (US), Shanghai Edrive (China), SINOEV (US), and Magnetic Systems (UK). Buy Now: https://www.marketsandmarkets.com/Purchase/purchase_report1.asp?id=208155014

  7. Browse >> 113market data tables 59figures 169 pagesand in-depth TOC "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“ Early buyers will receive 10% customization on this report. This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years to prioritize efforts and investments.

  8. Contact:Mr. Shelly SinghMarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com

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