E-Drive for Automotive Market Size to Surpass a Valuation USD 1,900 Mn By 2023-End

Pune, India, June, 2018 /press release/- Market Research Future Published a Cooked Research Report on Global E-Drive for automotive Market Research Report.

Market Research Future (MRFR)’s latest study reveals that the global E-drive for automotive market is set to soar at a double-digit CAGR during the review period (2018-2023), exceeding a valuation of USD 1,900 Mn by 2023. Many of the global automotive giants have already wagered their fortunes on hybrid, and electric vehicles and the rest are likely to follow soon. This is owing to the future viability of these vehicles despite the current market hegemony of fossil fuel powered cars. Rising fossil fuel prices and concerns over carbon emission of vehicles with internal combustion engines continue to create new windows of opportunity for electric vehicles. Factors as such are expected to support the growth of the market during the forecast period. Meanwhile, manufacturers are also emphasizing on development of more affordable electric cars in order to penetrate markets that have large pools of price-sensitive customers.

The global E-drive for automotive market has witnessed significant growth in recent years partly due to continuous product innovation and increased focus on research and development by market players.  The opportunities that currently exist are being quickly recognized by automotive manufacturers, which also characterizes the growing competition and influx of new entrants in the market. However, the increased competition in the market is threatening new players who are unable to match the levels of large-scale companies.

Access Report @ https://www.marketresearchfuture.com/reports/edrive-automotive-market-5073

Global Market for Building Insulation Material– Segmental Analysis

MRFR’s report offers a detailed segmental analysis of the market based on drive type, product, electric vehicle type, and region. By drive type, the market has been segmented into front wheel drive, rear wheel drive, and all-wheel drive. Among these, the front wheel segment accounts for the largest market share and is likely to remain highly lucrative throughout the assessment period. By product, the market has been segmented into power electronics, e-brake booster, battery, motor, and others. The battery segment accounts for the largest share of the market and is also projected to reflect a strong CAGR. By electric vehicle type, the market has been segmented into battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles. Among these, hybrid electric vehicle currently accounts for the largest market share, and is likely to retain its top position over 2023. Over the years, HEV variety has expanded beyond basic passenger cars as the technology embraces segments such as motorcycle, trucks, buses and ever aircraft. Due to the combination of both, electric and internal combustion engine systems hybrid electric vehicles have gained worldwide acceptance and have emerged as a solution with the nearest proximity to overcome the challenges faced by the automotive industry.

Regional Outlook

The global E-drive for automotive, by region, has been segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). Asia Pacific currently accounts for the largest market share and this trend is likely to continue beyond 2018. Emergence of China as the largest automotive market and the strong hold of Japan over the global auto sector are among the key forces driving the growth of the market in the region. China is the largest electric vehicle manufacturers and is expected to present significant growth opportunities for market players. Europe is expected remain the second largest market for E-drive for automotive during the review period.  Increased production and stricter laws to carbon emission issues is boding well for electric variants in the region. A number of Europeans countries have also initiated plans for a complete ban on fossil fuel powered vehicles.

Global Market for E-drive for Automotive – Competitive Dashboard

Some of the key players profiled in the report include Robert Bosch AG (Germany), ZF Friedrichshafen (Germany), ACTIA Group (France), SMR (India), BorgWarner (U.S.), GKN PLC (U.K.), SIEMENS AG (Germany), AVL List Gmbh  (Austria), ABM Greiffenberger (Germany), Magnetic Systems Technology(Magtec) (U.K.).