Worldwide E- Drive Assembly market:
Increasing need for fuel-efficiency systems and thereby declining sources of fuel across the globe are the factors considered to resonate with the drive assembly market growth. Moreover, discussions held at the global level regarding reduction in carbon footprints and the efforts made by the governments of emerging economies for the same is the factor boosting the E vehicle drive systems market growth. High rate of investments in research and development in the field of research and development of assembly manufacturing of electronic components for drives are the supporting factors driving the market growth.
Demand for hybrid and plug-in electric vehicles is on the rise owing to their fuel efficiency and high-class ergonomic design. Recently, the Government of the UK has invested in power grid supplies technology with approximately 5 billion USD. The investment will result in the manufacturing and deployment of approximately 3000 charging stations across UK and Scotland and will be available 24*7. The government of India has banned the manufacturing of diesel-powered cars in 2020 and is expected a big step towards sustainability through the deployment of electrical vehicles according to the new emission control policy of India as well as for the APAC region.
North America is the dominating region in the market owing to the well-established electronic and electrical industry and infrastructure facilities in the region and growing market consensus for the manufacturing sector. The US is the dominating country in the region followed by Canada in terms of market share of 48%. Asia Pacific regional market is expected to boost in forecasting period owing to increasing disposable income of the consumers and increasing popularity for electrical vehicles owing to social media marketing and telemarketing impact on the market. High taxes on electrical components and increasing import charges on manufactured electrical cars are the challenges for the APAC market and expected to restrain the market growth.
In a recent research report by Maximize Market Research, the E- Drive Assembly Market is expected to surpass US $18 billion by the year 2026, from US $XX billion in 2019.
Despite a huge decline in the sales of Assembly Types during the initial phase of pandemic spread and lockdown restrictions all over the region, the market is observed to pick up a quick pace for registering a CAGR of almost more than 6.4%, during the tenure of 2020 – 2026.
The report published by Maximize encompasses the market dynamics, which could affect the market growth of white goods in the region, the Value – Chain analysis, and the PORTER’s analysis for the white goods market at a global level. The study is consolidated on the basis of fourmajor segments and further into sub-segments, Assembly type (e axle, e motors assembly, stator and rotor assembly {permanent magnet and winded}, e transmission, and e driveline assembly), Vehicle type (light commercial, heavy commercial, and passenger cars), Electric vehicle type (Plug in hybrid, hybrid electric and battery powered), Drive type(rear wheel drive and front wheel drive) to forecast the market size by value; also includes the analysis of past market dynamics from 2016 – 2019, considering 2019 as the base year.
Lastly, the market research report provides a regional comparison and a complete country level analysis for the latest trends, along with the major key players-Schaeffler AG, Marsilli, ZF Friedrichshafen AG, Comau SPA, Siemens AG, ACTIA Group, Robert Bosch GmbH, GKN PLC, HITACHI Automotive Systems, Ltd., Magna International Inc., ABM Greiffenberger, MAHLE GmbH, Continental AG, BorgWarner, Inc., SMR
You can browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global E- Drive Assembly Market.”
https://www.maximizemarketresearch.com/market-report/global-e-drive-assembly-market/94178/
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