The global smart electric drive market size is projected to grow from USD 915 Million in 2021 to USD 4,245 Million by 2026, at a CAGR of 35.9%. Factors such as increasing demand for electric vehicles around the world, growing demand for smart electric drive equipment due to their higher vehicle efficiency, lower parts weight and compact size of assembly will boost the demand for smart electric drive market. The growing concern for larger distance commuting using EV’s will also boost the market.
The growth of the market is influenced by the rising demand for efficient electric transport, huge R&D investments from major players in integrated electric drivetrain technology, government focus on reducing emissions and compact size and weight of the assembled smart electric drive systems. The smart electric drive market is dominated by global players such as Nidec Corporation (Japan), Aisin Corporation (Japan), BorgWarner (US), Bosch (Germany) and ZF group (Germany). These companies have been developing new products, adopted expansion strategies, and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in the high-growth smart electric drive market.
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Nidec Corporation is Asia Pacific’s largest e-axle manufacturer and provides e-axles for a significant number of EV manufacturers in China. The company manufacturers machinery, industrial and commercial appliances, automotive products, small precision motors and electronics and optical components. It is headquartered in Kyoto, Japan and was founded in 1973 and is one of Japans top companies as of 2021. Its automotive segment includes Powertrain, Drivetrain, Steering, Body, ADAS and Heat Management divisions. It has a range of E-Axles available with output range of 50 KW, 70 KW, 100 KW, 150 KW and 200 KW. The company’s e-axles have been used in vehicles like Aion S, iA5, Aion LX, HYCAN 007, Geometry C and AionV. It has its presence across countries like US, China, Japan, Germany, Thailand, Singapore etc. with R&D centers in China, Japan, Mexico, Vietnam and US. By January 2021, the company had sold over 100,000 e-axles worldwide. As on March 2021, the company had over 112,551 employees and is associated with more than 300 group companies around the world. In February 2021, the company acquired Mitsubishi Heavy Industries Machine tool division to expand its e-axle production capacity.it also announced plans to form a joint venture with Foxconn to enter the Taiwanese market in July 2021. In February 2020, Nidec announced launch of its two-new e-axles developed for 200KW and 50 KW drivetrains. Their e-axle system comprises of a fully integrated traction motor system with electric motor, reduction gearbox and inverter. The Ni200Ex is developed for D and E segment cars which offers much higher output compared to its earlier available Ni150Ex model.
Aisin Corporation is also one of Asia Pacific’s top manufacturers of automotive systems and components. The company operates through 5 business segments: drivetrain, brake and chassis, body, engine, information, and lifestyle and energy-related products. It offers automotive E-drive products through its drivetrain business segment. The company was founded in Aichi, Japan and was founded in 1949. The company is a major e-axle provider for Toyota motors and its collaborations in the Asia Pacific region, which holds a significant stake in the company. The company has a total of 179 subsidiaries, 65 of which are in Japan, with the rest spread across the globe. Key customers of the company include Suzuki Motors, Isuzu Motors, Ford Motor Company and General Motors. The company’s major source of revenue is its drivetrain segment while Japan and China are its major markets. It has been encouraging the development of its e-drivetrain market by investing a higher proportion of their R&D funds in the E-Drive division. In January 2021, Aisin Corporation has newly developed a drive unit for ultra-small EVs, which was installed in the Toyota Motor Corporation " C+pod " released in December 2020. In July 2018, Aisin had started developing e-axles for a Toyota made EV’s like Mirai, C-HR, IZOA etc. its innovative e-drivetrain products were integrated together for development of its e-axle.
BorgWarner one of the leading company in the field of powertrain systems. The company operates in the automotive industry. through clean propulsion and efficient technology solutions for light-, medium- and heavy-duty vehicles as well as off-highway applications. The company was founded in 1928 and is headquartered in Michigan, US. The company operates through different divisions such as air- management, propulsion and drivetrain, aftermarket and fuel injection. It has been expanding its E-Drivetrain systems sales network around the world and increased the R&D expenditure for the e-drive division. BorgWarner has been providing its electric drive module to Great wall Motors since 2018. It launched its e-axle iDM in January 2019, which was selected by Hyundai for its upcoming A-Segment EV, which will start production from mid-2023. Its iDM146 operates at 400V and has an exceptional peak power of 135 kW. The advanced transmission technology offers smooth and quiet operation, and the electric motor uses High Voltage Hairpin technology. Overall drive system weight and space are reduced by integrating the gearbox, a 400V silicon inverter and the motor with a compact, 146 mm diameter stator.
Bosch, ZF Group, Continental AG, GKN, Magna International, Siemens, Dana, Meritor, Denso, Hitachi are some of the other top companies in this market. In September 2021, ZF announced the launch of its eDrive kit during the German IAA 2021 event. It bundles the full e-drivetrain expertise of the company in the drivetrain kit manufactured for easy setup in most conventional vehicles. In September 2021, Dana Inc. announced that it will begin production of its eS9000r e-Axle – the first in a line of Spicer Electrified Zero-6 e-Axles – to support the market launch of the Freightliner Custom Chassis Corporation (FCCC) all-electric MT50e medium-duty last-mile delivery vehicle. In September 2021, Meritor Brasil locally developed and manufactured the MS-120 traction axle in Brazil for the Volkswagen e-Delivery electric truck, in partnership with Volkswagen’s technicians. The traction axle is directly coupled to the electric motor. In consideration for the e-Delivery’s electric powertrain, Meritor Brasil developed specific bearings for the differential and a more robust joint system. In June 2021, GKN announced it has reached the advanced stage for development of 800 V e-powertrain systems and are currently being tested in real-world conditions. This will allow faster charging time, increased driving range and better vehicle performance. In March 2021, Magna launched its new BEV and PHEV drivetrain. They were test driven in north Sweden. Its PHEV version reduces emission by 38%. Both its versions offer cloud connectivity, cruise control and eco routing. In July 2020, Denso developed its e-axle through its blue nexus JV. It developed the complete e-axle solution, 1-motor hv and 2-motor hv solutions. In February 2020, Magna showcased its eDrive systems as part of the company’s winter test drive activities in Sweden. the drive system comes with a scalablity of 50-250 kW. In August 2019, The company launched a fully integrated electric drivetrain comprising of an electric motor, transmission system and a inverter. The system is manufactured for a total weight less than 80 kg, which is 20% lighter than competitor’s electric drivetrain. In January 2019, Siemens launched its new energy efficient drive system which can be used for electric and hybrid vehicles. The new mobility solution saves more energy compared to previous versions.
Smart Electric Drive Market by Vehicle Type (PC, CV, 2W), EV Type (BEV, PHEV, HEV), Component (Power Electronics, E-Brake Booster, Inverter, Motor, Battery), Application (E-Axle, Wheel Drive), Drive (FWD, RWD, AWD), and Region - Global Forecast to 2026
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