Automakers Commit to Greener Future with EVs and E-Drive Sales Gain Momentum
Automobile - Market Research Future
Automotive Components, Technology, Services, Bikes, Motorcycles, ICE, Electric, Hybrid, Autonomous Vehicles, LCV, HCV
The continually rising global population and economic growth influence EV sales, increasing car ownership. Citing the proliferation of EVs allowing the market to perceive increasing sales. Market Research Future (MRFR) expects the global e-drive for automotive market valuation to escalate to USD 19.44 BN by 2025, growing at an impressive CAGR during the forecast period (2021 – 2025).
The global e-drive for automotive market is witnessing significant traction, mainly due to the spurring rise in the electric vehicle industries worldwide. Mainstream electric vehicles (EVs) are transforming the automotive industry while helping decarbonize the planet. The concept of e-mobility is changing urban landscapes for the better, where vehicle emissions, congestions, and environmental impact constitute major issues.
Also, the growing implementation of advanced technologies and AI integration in auto technologies improve EV production. Automakers are restructuring many business processes, including circularity and Industry 4.0, by incorporating robotics & process automation, ML & AI integration, AR & VR applications, IoT, 5G cellular networks, and cyber security.?
E-Drive Definition and Mechanism?
The term e-drive refers to the combination of various components and systems used in electric vehicles to convert electric power into instant torque at the wheels. eDrive makes driveline electrification simpler and boosts vehicle's performance, delivering the best intelligent dynamics. These systems can efficiently regenerate kinetic energy and offer a cost-competitive electric driving mode.
The innovation of e-drive is the next step for the development of commercial electric vehicles. Performance and efficiency requirements boost the development of heavy-duty e-drives. There is a huge demand for more power-dense e-drives from EV vehicle manufacturers to make economically viable electric vehicles.?
EV Market Trends Boost E-Drive Demand
The EV market is evolving rapidly, mainly due to increasing prices and the scarcity of fossil fuels. Among the key technology trends that will shape the future of the electric vehicle industry worldwide include artificial intelligence, augmented reality & virtual reality, and the internet of things. Also, legislative restrictions and sustainability goals foster the e-drive industry growth, limiting the viability of high-polluting ICE models.?
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Electric vehicles may be powered by fuel cells, batteries, or other power sources. Over the past few years, e-drives have undergone significant evolution. Recently, a unique trend observed in the market is a compact modular design that makes it easy to integrate with different eMotor concepts quickly and effortlessly. Interest in new sustainable materials has brought innovations in e-drive designs and how these systems could be integrated into vehicle architectures.
Industry Players' Strategies to Follow
Highly competitive, the e-drive for automotive?market appears fragmented due to the presence of several well-established players. These players incorporate strategies, such as mergers & acquisitions, collaborations, expansion, and product/technology launch to gain a larger competitive share. Leading manufacturers invest heavily to boost e-drive production to maintain the demand-supply ratio even during unpredictable situations.?
Passionate & Responsive market leaders strive to deliver products suiting their clients' needs and exceeding them. E-drive manufacturers focus on innovations and create the best-performing systems offering solutions. Many e-drive manufacturers deliver high-quality, dependable, and trustworthy solutions customized to clients' needs through strong open and transparent collaborations.?
Notable Industry Updates