The Role of E-Drive in Shaping the Automotive Industry

E-Drive for Automotive

Increased passenger car and vehicle registration in Asia-Pacific creates lucrative opportunities for the expansion of the market.

PORTLAND, OR, UNITED STATES, April 12, 2023 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “E-Drive for Automotive Market,” The e-drive for automotive market was valued at $9.6 billion in 2021, and is estimated to reach $21.5 billion by 2031, growing at a CAGR of 8.8% from 2022 to 2031.

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Electric drive (E-Drive) technology is a growing trend in the automotive industry as car manufacturers aim to meet increasing demands for environmentally friendly vehicles. E-Drive is a system that utilizes an electric motor instead of the traditional internal combustion engine (ICE) to power the vehicle. In this blog, we will explore the basics of E-Drive technology, its benefits, and its potential to transform the automotive industry.

E-Drive technology is based on the use of electric motors powered by batteries that are charged by plugging into an external power source. There are three main types of E-Drive systems: pure electric, plug-in hybrid, and hybrid. Pure electric vehicles run exclusively on battery power and have no backup ICE engine. Plug-in hybrid vehicles have a smaller battery than pure electric vehicles, but they also have an ICE engine as a backup power source. Hybrid vehicles use both the electric motor and ICE engine to power the vehicle.

One of the primary benefits of E-Drive technology is its reduced environmental impact. Electric vehicles emit no greenhouse gases, which contributes to cleaner air and a healthier planet. E-Drive technology also reduces noise pollution, as electric motors are much quieter than ICE engines. Another benefit is improved efficiency, as electric motors convert almost all of their energy into power for the vehicle. This results in lower energy consumption and reduced fuel costs for drivers.

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Covid-19 Scenario:

The Covid-19 pandemic and followed lockdown regulations resulted in supply-chain disruptions and low sales of passenger cars.
The temporary suspension of production of vehicles across the globe and the shortage of component of semiconductor chips hampered the market.

The growth of the global e-drive for automotive market is propelling, due to stringent government rules and regulations toward vehicle emission and rise in demand for electric vehicles. However, high cost of e-drive systems is the factor hampering the growth of the market. Furthermore, technological advancements is the factor expected to offer growth opportunities during the forecast period.

Factors such as superior traction than other drivetrain systems, less expensive type of drivetrain than that of RWD or AWD, better handling performance than other drivetrain types, and reduced power consumption, owing to significant traction propel the growth of the FWD segment in e-drive for automotive market. Moreover, lower maintenance cost, greater fuel-efficiency, owing to its reduced weight, better traction over slippery roads, and adoption of FWD vehicles in snowy region propel the growth of the FWD segment in market. In addition, several companies are launching new e-drives in the market, which fuel the growth of the market.

For instance, in 2020, General Motors introduced five e-drives units under the name Ultium Drive for General Motors’ electric cars. The e-drive will be able to power vehicles equipped with front wheel drive, rear wheel drive, and four-wheel drive.

Key players operating in the global e-drive for automotive market include Aisin Corporation, BorgWarner Inc., Continental AG, Hitachi Ltd., Magna International Inc., Melrose Industries PLC, Nissan Motor Co., Ltd., Robert Bosch GmbH, Schaeffler AG, Siemens AG, Toyota Motor Corporation, and ZF Friedrichshafen AG.

KEY FINDINGS OF THE STUDY

By electric vehicle type, the battery electric vehicle segment is anticipated to exhibit significant e-drive for automotive industry growth in the near future.
By vehicle drive type, the rear wheel drive segment is anticipated to exhibit significant growth in the near future.
By application, the commercial vehicles segment is anticipated to exhibit significant growth in the near future.
By region, Europe is anticipated to register the highest CAGR during the forecast period.

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