Global Smart e-Drive Market Research Report- Forecast 2030

Smart e-Drive Market Information Report by Component (Power Electronics, E-Brake Booster, Inverter, Motor, Battery), by application (e-Axle, Wheel drive), by drive type (Front wheel drive, Rear wheel drive, others), by battery type (Lithium-ion, Nickel-based, Lead acid and Solid state battery) and By Region - Forecast To 2030

ID: MRFR/AM/3751-HCR | December 2022 | Region: Global | 100 pages

Impact of COVID-19 on the Global Smart e-Drive Market

A smart e-drive system is an integrated version of the conventional electric drive system. This system helps in driving the car without any external fuel or power. It is designed with a self- energy generator to run the car using effective gear design and electrical circuits. The increasing demand for electric and hybrid vehicles is expected to be a key factor that is likely to drive the smart e-drive market. Moreover, government restrictions and regulations to reduce carbon emission by promoting the use of electric vehicles is driving market growth. The production of smart e-drive systems has been impacted due to the COVID-19 crisis. Currently, the COVID-19 pandemic has led to a reduction in the production of automotive parts and systems across the globe due to the shutdown of production facilities and disruptions in the supply of components from various Asia-Pacific countries, which is hampering the growth of the market.

The automotive industry is a crucial component of economic growth, being extensively interconnected with other industries such as steel, chemicals, textiles, repair, and mobility services. There has been a huge production deficit in the automotive sector since the outbreak of the pandemic. The slowdown in productivity, disruptions in the automotive supply chain, and closure of manufacturing plants have severely impacted the demand, supply, and registrations for automobiles. In the Asia-Pacific region, China is a significant supplier of raw materials used in the manufacturing sector. The sales of prominent automotive companies are projected to be affected during the forecast period. The smart e-drive market is expected to gain traction in the post-lockdown period owing to the risks associated with traveling in public transportation. Post lockdown, the market is expected to recover in the Asia-Pacific region with countries such as Japan, China, India, and South Korea witnessing opportunities to recover from the losses sustained during the COVID-19 pandemic.


Source: International Energy Agency