Market Overview:
The global electric drive systems market is expected to grow from USD 9.5 billion in 2018 to USD 17.8 billion by 2030, at a CAGR of 7.0% during the forecast period. The growth of the electric drive systems market can be attributed to the increasing demand for fuel-efficient and low-emission vehicles, government initiatives toward the adoption of electric vehicles, and rising concerns about climate change. The type segment of the global electric drive systems market is projected to grow at a higher CAGR during the forecast period, owing to factors such as stringent emission norms and fuel economy standards across different regions worldwide.
Product Definition:
Electric Drive Systems are electric motors that propel a vehicle. They are important because they are more efficient than gasoline engines, and they produce no emissions.
Apply to Part:
Approximately 80% of the total vehicle weight is in the form of drive train components. The electric vehicles (EV) industry has witnessed a significant growth owing to stringent government regulations and incentives for adopting zero-emission vehicles. This has led to an increase in research & development activities, which have resulted in improved battery technology and increased capacity.
Apply to Whole:
The global apply to whole and it's usage in electric drive systems market size was valued at USD 0.00 in 2016. It is expected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing adoption of electric vehicles (EVs) across the globe, which has resulted in increased production of powertrain systems including engines, motors, and controllers as well as batteries that are used in EVs.
Application Insights:
Trucks were the largest application segment in 2017 and are expected to continue holding a major share over the forecast period. Increasing demand for electric trucks is expected to drive the segment growth over the coming years. The introduction of various government initiatives such as FHWA¢â‚¬â„¢s National Electric Vehicle Program (NEVP) is anticipated to accelerate market growth from 2018 to 2030.
The buses application segment was valued at USD 1,227.1 million in 2017 owing to increasing adoption of hybrid electric buses across North America and Europe coupled with rising preference for public transport due largely to growing urbanization and changing lifestyles among consumers worldwide. Furthermore, growing investments by governments in order promote sustainable transportation solutions are likely further boost industry penetration across various regions globally by 2030.
Regional Analysis:
The Asia Pacific regional market accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to rising investments in electric vehicle manufacturing, favorable government policies, and increasing demand for clean energy sources. China is projected to dominate this region owing to its large-scale production of electric vehicles as well as battery packs used across various applications.
North America held a significant share of global revenue in 2017 owing to growing adoption by commercial vehicles such as trucks and buses. This can be attributed to stringent emission norms set by regulatory bodies such as EPA (U.S.) or CSA (Canada). Moreover, presence of major manufacturers such as Tesla Inc.
Growth Factors:
- Increasing demand for electric vehicles: The global electric vehicle market is expected to grow at a CAGR of more than 28% from 2016 to 2020. This growth can be attributed to the increasing demand for environment-friendly and fuel-efficient vehicles.
- Government initiatives and subsidies: Governments across the globe are promoting the adoption of electric vehicles through various initiatives and subsidies. For instance, in China, the government offers a subsidy of up to ,800 on each electric vehicle purchase.
- Development of charging infrastructure: The development of charging infrastructure is crucial for the growth of the electric drive systems market. Various public and private players are investing in this area to provide easy access to charging facilities for consumers.
- Advancements in technology: Advancements in technology have led to the development of more efficient and affordable electric drive systems products that are suitable for a wide range of applications such as passenger cars, buses, trucks, etc.).
Scope Of The Report
Report Attributes
Report Details
Report Title
Electric Drive Systems Market Research Report
By Type
Apply to Part, Apply to Whole
By Application
Trucks, Buses, Vessels, Others
By Companies
Magtec, Dana TM4, ACTIA, MAHLE, Fischer Panda, HPEVs, Bosch Mobility Solutions, AC Propulsion
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
175
Number of Tables & Figures
123
Customization Available
Yes, the report can be customized as per your need.
Global Electric Drive Systems Market Report Segments:
The global Electric Drive Systems market is segmented on the basis of:
Types
Apply to Part, Apply to Whole
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Trucks, Buses, Vessels, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Magtec
- Dana TM4
- ACTIA
- MAHLE
- Fischer Panda
- HPEVs
- Bosch Mobility Solutions
- AC Propulsion
Highlights of The Electric Drive Systems Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Apply to Part
- Apply to Whole
- By Application:
- Trucks
- Buses
- Vessels
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electric Drive Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Electric drive systems are a type of propulsion system that uses electric motors to power the vehicle. They offer many advantages over traditional engine-powered vehicles, including reduced emissions and lower operating costs. Electric drive systems can also be more efficient in terms of fuel use, which can result in significant reductions in CO2 emissions.
Some of the major players in the electric drive systems market are Magtec, Dana TM4, ACTIA, MAHLE, Fischer Panda, HPEVs, Bosch Mobility Solutions, AC Propulsion.
The electric drive systems market is expected to grow at a compound annual growth rate of 7%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Electric Drive Systems Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Electric Drive Systems Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Electric Drive Systems Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Electric Drive Systems Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Electric Drive Systems Market Size & Forecast, 2018-2028 4.5.1 Electric Drive Systems Market Size and Y-o-Y Growth 4.5.2 Electric Drive Systems Market Absolute $ Opportunity
Chapter 5 Global Electric Drive Systems Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Electric Drive Systems Market Size Forecast by Type
5.2.1 Apply to Part
5.2.2 Apply to Whole
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Electric Drive Systems Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Electric Drive Systems Market Size Forecast by Applications
6.2.1 Trucks
6.2.2 Buses
6.2.3 Vessels
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Electric Drive Systems Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Electric Drive Systems Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Electric Drive Systems Analysis and Forecast
9.1 Introduction
9.2 North America Electric Drive Systems Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Electric Drive Systems Market Size Forecast by Type
9.6.1 Apply to Part
9.6.2 Apply to Whole
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Electric Drive Systems Market Size Forecast by Applications
9.10.1 Trucks
9.10.2 Buses
9.10.3 Vessels
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Electric Drive Systems Analysis and Forecast
10.1 Introduction
10.2 Europe Electric Drive Systems Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Electric Drive Systems Market Size Forecast by Type
10.6.1 Apply to Part
10.6.2 Apply to Whole
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Electric Drive Systems Market Size Forecast by Applications
10.10.1 Trucks
10.10.2 Buses
10.10.3 Vessels
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Electric Drive Systems Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Electric Drive Systems Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Electric Drive Systems Market Size Forecast by Type
11.6.1 Apply to Part
11.6.2 Apply to Whole
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Electric Drive Systems Market Size Forecast by Applications
11.10.1 Trucks
11.10.2 Buses
11.10.3 Vessels
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Electric Drive Systems Analysis and Forecast
12.1 Introduction
12.2 Latin America Electric Drive Systems Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Electric Drive Systems Market Size Forecast by Type
12.6.1 Apply to Part
12.6.2 Apply to Whole
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Electric Drive Systems Market Size Forecast by Applications
12.10.1 Trucks
12.10.2 Buses
12.10.3 Vessels
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Electric Drive Systems Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Electric Drive Systems Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Electric Drive Systems Market Size Forecast by Type
13.6.1 Apply to Part
13.6.2 Apply to Whole
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Electric Drive Systems Market Size Forecast by Applications
13.10.1 Trucks
13.10.2 Buses
13.10.3 Vessels
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Electric Drive Systems Market: Competitive Dashboard
14.2 Global Electric Drive Systems Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Magtec
14.3.2 Dana TM4
14.3.3 ACTIA
14.3.4 MAHLE
14.3.5 Fischer Panda
14.3.6 HPEVs
14.3.7 Bosch Mobility Solutions
14.3.8 AC Propulsion