The smart electric drive market is expected to reach $29,472.48

The smart electric drive market is expected to reach $29,472.48

The size of the Smart Electric Drive market is expected to be valued at USD 1709.81 Million by 2023 and is expected to rise to USD 29,472.48 Million by 2032. The market is expected to grow at a CAGR of 37.2 during the forecast period % will register.


𝐕𝐚𝐫𝐢𝐨𝐮𝐬 𝐩𝐫𝐨𝐩𝐞𝐥𝐥𝐢𝐧𝐠 𝐭𝐡𝐞 𝐝𝐞𝐦𝐚𝐧𝐝 𝐝𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐬𝐦𝐚𝐫𝐭 𝐞𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐝𝐫𝐢𝐯𝐞𝐬 𝐢𝐧𝐜𝐥𝐮𝐝𝐞 𝐢𝐧𝐜𝐥𝐮𝐝𝐞 𝐢𝐧𝐜𝐥𝐮𝐝𝐞:

• The ability of smart electric powertrains to provide smoother and more efficient vehicle transmission and their efficient energy consumption are driving demand for these powertrains.

• The increasing use of electric vehicles due to strict emission regulations and government encouragement to switch to electric vehicles is expected to drive the prevalence of smart e-drives.

• The lower operating costs and environmental benefits of smart electric powertrains are further fueling market expansion.

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐒𝐦𝐚𝐫𝐭 𝐄𝐥𝐞𝐜𝐭𝐫?

A smart electric drive is an advanced version of an electric drive system that has undergone adjustments to make driving smoother and safer. The drive is powered by a battery, which can be a solid-state battery, a lithium-ion, or a lead-acid battery. The function of the battery is to directly transfer energy to the vehicle, saving a significant amount of energy. The drive type appeals to consumers who consciously choose to purchase sustainable products. During operation, the electric motor in the smart electric drive is separately energized via a three-phase synchronous motor. The drive unit of smart electric drive contains power electronics that regulate the energy flow from the high-voltage battery to the electric motor.

𝐊𝐞𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐏𝐚𝐫𝐭𝐢𝐜𝐢𝐩𝐚𝐧𝐭𝐬

The market for smart electric driving is characterized by fragmentation. The smart electric drive market is poised to see competition thanks to the presence of multiple players. Some of the key industry participants include:

• Aisin Corporation
• Allison transmission
• Deposit warning
• Bosch
• Continental Ag
• Dana
• Hexagon AB
• Hitachi
• Infineon technologies
• Jing-Jin electrical technologies
• Magna International
• Mahle
• Meidensha Corporation
• Meritor
• Nidec company
• Shanghai Mart Control Co.,Ltd
• Siemens AG
• ZF group


𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

𝐁𝐲 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐓𝐲𝐩𝐞

• Passenger cars
• Commercial vehicles
• 2 wheelers

𝐁𝐲 𝐄𝐕 𝐓𝐲𝐩𝐞


𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

• North America (USA, Canada)

• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)

• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)

• Latin America (Brazil, Mexico, Argentina)

• Middle East and Africa (Saudi Arabia, UAE, Israel, South Africa)

???? 𝐭:

???? 𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

• Passenger cars that run on electricity use electric motors and batteries instead of conventional diesel or gasoline engines. They are the largest category in terms of value in the smart electric drive market and are expected to grow substantially in the coming period.

• In 2022, the front-wheel drive segment had the highest share. This is because front-wheel drive vehicles tend to be lighter than their rear-wheel drive counterparts, making them a popular choice for mid- and lower-price sedans. The reason behind this is that front-wheel drive provides reliable traction and good balance.

• The North America region dominated the global market in 2022, with the United States having the highest demand for advanced propulsion systems. This has led to the region’s best-selling electric vehicles dominating the automotive market. The leading Original Equipment Manufacturers (OEMs), including GM and Ford, are working with companies like Hitachi, ZF, BorgWarner, LG, Magna and others to advance their powered mobility. As a result, a gradual increase in the industry’s need for advanced propulsion systems is expected in the coming years.

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