According to the report analysis, ‘Global E-Drive Automotive Market Research Report – Forecast To 2023’ states that some of the major companies which are currently functioning in this sector more actively for attaining significant growth and dominating the highest share across the globe includes Robert Bosch GmbH (Germany), Siemens AG (Germany), GKN PLC (U.K.), ZF Friedrichshafen AG (Germany), ACTIA GROUP (France), Hitachi Automotive Systems, Ltd (Japan), Continental AG (Germany), Magna International Inc (Canada), MAHLE GmbH (Germany), BorgWarner Inc.(US), and ABM Greiffenberger ( Germany). Moreover, for moving the vehicle back and forth, numerous types of power modules such as controller and investors are used and it further can also be used in premium class vehicles and a sports car. There have been significant technological developments in the automotive industry that will have a significant impact on the e-drive for the automotive industry.
An electric drive is an electromechanical device which is majorly used for transforming electrical energy into mechanical energy that enables a motion to the wheels of the vehicles. A typical e-drive system comprises of an electric motor and a regulator system used for controlling the rotation of the motor shaft. Moreover, a trend in the design of a few electromechanical device is towards miniaturization, to make them an unobtrusive as possible, either for health care setting or as wearable units. The surge in the fuel price will boost the demand for electric vehicles, increase in utility programs to support the adoption of electric vehicles and driver’s impact analysis are the major key drivers of the global E Drive for Automotive market. Whereas, the high price of electric drives system and restraints impact analysis are the main restraints in the growth of the E Drive for Automotive market. Not only has this, but the emerging economies also seeks more opportunities for electric vehicles is the major opportunity for the extensive growth of this market. In the recent trend, the global markets of E drive for automotive have grown more efficient.
The E-drive market for automotive has a substantial demand due to the global rush in the fuel prices. Moreover, the numerous stringent government models adopted globally for supervision the pollution levels and an upsurge in sales of hybrid and electric vehicles will principal to the market growth. The significant increase in utility programs also supports the adoption of electric vehicles which adds to the growth. Additionally, with the effective applications and develop the market is spread across the globe which majorly includes North America, Europe, Asia Pacific region and the rest of the world. The market key players are more tending towards electric vehicles and have started serving the EV range for models including, hatchbacks, sedans, large family cars, vans, and several others.
The significant increase in the deployment of grid systems will support the charging of electric vehicles and will lead the requirement for electric drive systems. The development of electric vehicles sales in surging economies is a general growth occasion for e-drivers. Therefore, in the coming years, it is expected that the market will grow more significantly across the globe over the decades.
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Ankur Gupta, Head Marketing & Communications