Smart Electric Drive Market to Surge to US$ 6.7 Billion by 2030, Driven by Rising Demand for Energy-Efficient and Sustainable Transportation | According to RationalStat

The global smart electric drive market is projected to reach US$ 6,765.2 million by 2030, at a CAGR of 32.5%. Smart Electric Drives (SEDs) are advanced versions of electric drives that are more efficient, reliable, and intelligent than traditional electric drives. They are used in a variety of vehicles, including passenger cars, commercial vehicles, and two-wheelers.

Wilmington, Delaware, Nov. 24, 2023 (GLOBE NEWSWIRE) —

Global Smart Electric Drive Market: Segmental and Market Share Analysis

• Based on the Application, the commercial segment is expected to dominate the market as the adoption of EVs for office cabs and taxis is anticipated to drive the market for the smart electric drive market.

Report Synopsis

Report Metrics	Details
Base Year	2023
Forecast Period	2023-2030
Base Year Market Size	US$ 942.6 million
Market Size Forecast	US$ 6,765.2 million
Growth Rate	32.5%
Dominant Segment	Commercial Segment
Leading Region	Asia Pacific
Key Market Drivers	Low operating costs of EVs Reduced running costs Rising commercial applications Rising technological advancements
Companies Profiled	Robert Bosch GmbH ZF Friedrichshafen AG AISIN CORPORATION NIDEC CORPORATION Magna International Continental AG Denso Corporation Hexagon AB Hitachi BorgWarner SINOEV UQM Technologies Shanghai Edrive

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Competition Analysis and Market Structure

Some of the prominent players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, and partnerships and collaborations are some of the strategies followed by industry players, some of the key developments in the smart electric drive market include,

• In November 2021, Ford Motor Company revealed an aim to grow global EV manufacturing to 6,00,000 units by 2023.

Some of the prominent players and suppliers operating and contributing significantly to the smart electric drive market growth include Robert Bosch GmbH, ZF Friedrichshafen AG, AISIN CORPORATION, NIDEC CORPORATION, Magna International, Continental AG, Denso Corporation, Hexagon AB, Hitachi, BorgWarner, SINOEV, UQM Technologies, and Shanghai Edrive, others.

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RationalStat has segmented the smart electric drive market based on component, drive, vehicle type, application, and region

• Global Smart Electric Drive Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Component

• Battery
• E-Break Booster
• Power Electronics
• Motor

• Global Smart Electric Drive Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Vehicle Type

• Passenger Cars
• Commercial Cars

• Global Smart Electric Drive Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Drive

• FWD
• RWD
• AWD

• Global Smart Electric Drive Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application

• Wheel Drive
• E-Axle

• Global Smart Electric Drive Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
  • North America Smart Electric Drive Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
    • US
    • Canada
  • Latin America Smart Electric Drive Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
    • Brazil
    • Mexico
    • Rest of Latin America
  • Western Europe Smart Electric Drive Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe Smart Electric Drive Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
    • Russia
    • Poland
    • Hungary
    • Other CIS Countries
    • Rest of Eastern Europe
  • Asia Pacific Smart Electric Drive Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • ASEAN
      • Indonesia
      • Thailand
      • Philippines
      • Vietnam
      • Malaysia
      • Rest of ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa Smart Electric Drive Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
    • GCC
      • Saudi Arabia (KSA)
      • United Arab Emirates (UAE)
      • Rest of the GCC
    • South Africa
    • Nigeria
    • Turkey
    • Rest of the Middle East & Africa

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Key Questions Answered in the Smart Electric Drive Report:

• What will be the market value of the smart electric drive market by 2030?
• What is the market size of the smart electric drive market?
• What are the market drivers of the smart electric drive market?
• What are the key trends in the smart electric drive market?
• Which is the leading region in the smart electric drive market?
• What are the major companies operating in the smart electric drive market?
• What are the market shares by key segments in the smart electric drive market?  

Running a Year End Discount of 20%- https://store.rationalstat.com/store/global-smart-electric-drive-market/#tab-ux_global_tab

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Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoints to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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