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EV Drive System Market Demand Skyrockets: Major Components in Demand are EV Motors, EV Speed Reducers, EV Power Electronics, Drive Units (E-Axle) - Latest ResearchPUNE, India, Dec. 8, 2022 /PRNewswire/ -- The New Report "EV Drive System Market Size, Statistics, Trend Analysis, and Forecast Report, 2022–2032" shows insights and data published by Market Decipher. The report comprises the market size of the EV Motors Market, EV Speed Reducers Market, EV Power Electronics Market, and Drive Units (E-Axle) Market. Increased demand for high-performance, low-emission, and fuel-efficient automobiles, strict government pollution restrictions, falling prices for electric vehicle batteries, and rising gasoline prices all contribute to the expansion of the EV Drive Systems market during the projection period. Get research insights in detail: https://www.marketdecipher.com/report/ev-drive-system-market "The industry's growth prospects will be boosted by an increase in the use of electric vehicles to manage fuel consumption and minimize pollution are driving the market. Market Decipher reveals that the growing geriatric population coupled with the expanding government and regulatory actions for emission control measures would hasten the adoption of electric vehicles, which will raise the demand for EV Drive Systems around the globe. The rising investments in R&D by prominent companies and increasing disposable incomes are boosting the market growth in North America and Asia Pacific region." - Chandradeep Singh Get Custom Report as per Request: https://www.marketdecipher.com/report/ev-drive-system-market This report provides meticulous insights into key segments, product specifications and analysis, changing trends, and new technologies, considering key features such as gross margin, revenue & cost. It provides key statistics on the market status of the EV Drive Systems manufacturers, highlighting influential leading players, market scope, and key developments. The report also gives a telescopic view of opportunities and constraints while projecting the growth matrix and global developments with regional insights, and provides noteworthy data for future events, mergers, and acquisitions with trending innovation and business policies and market environment in this market. The EV Motor Market was estimated at USD 7,635.1 billion in 2021 and is forecast to grow at a CAGR of 21.7 % during the forecast period. The electric vehicle motor market is predicted to increase at a significant rate over the forecast period, due to the rising consumer demand for greener transportation, the expansion of the electric vehicle sector, the scarcity of limited fossil resources, and growing concern over lowering the environmental pollution. Additionally, AVERE (The European Association for Electromobility), the World Electric Vehicle Association (WEVA), the Society of Manufacturers of Electric Vehicles (SMEV), the Australian Electric Vehicle Association (AEVA), and the Electric Auto Association are expected to support the mark through increased government rules and regulations pertaining to the reduction of vehicular emissions and promotion of electromobility and sustainable transport. Top players in EV Motors Market are Aisin Seiki Co. Ltd, Toyota Motor Corporation, Hitachi Automotive Systems, DENSO Corporation, Honda Motor Company Ltd, Mitsubishi Electric Corp., Magna International, Robert Bosch GmbH, BMW AG, Nissan Motor Co. Ltd, Tesla Inc., Toshiba Corporation and BYD Co. Ltd. Get EV Motors Market Research Report: https://www.marketdecipher.com/customization/2899 EV Speed Reducers Market was estimated at US$ 1.5 billion in 2022 and is expected to reach US$ 10.6 billion by the end of 2032 with a CAGR of 27.2% during the forecast period. The electric vehicle speed reducers market is predicted to increase at a considerable rate over the forecast period. High-efficiency speed reducers can save a lot of energy while also cutting component costs. Greenhouse gas emissions can be significantly reduced by using high-efficiency reducers, such as gear reducers, to reduce motor power consumption, driving the global electric vehicle reducer market. Tax breaks, non-monetary benefits such as new car registration and carpool lane access, expanded vehicle range, active OEM participation, frequent charging infrastructure, and other factors are important market drivers that will propel the EV Speed Reducers Market. Top players for EV Speed Reducers Market are GETRAG FORD Transmission GmbH, Tsingshan Industry, AVL GmbH, HOTA Industrial, GKN, ZF Friedrichshafen AG, Robert Bosch mbH, BorgWarner Inc., Aichi Machine Industry, Zhuzhou Gear, SAGW and Magna International. Get EV Speed Reducers Market Research Report: https://www.marketdecipher.com/report/ev-speed-reducers-market The EV Power Electronics Market was estimated at US$ 8.73 billion in 2022 and is expected to reach US$ 101.63 billion by the end of 2032 with a CAGR of 35.6% during the forecast period. Electric vehicle power electronics are predicted to increase at an increasing rate over the forecast period owing to the increased need for energy-efficient battery-powered devices, rigorous emission requirements to minimize vehicle weight and emission, and government attempts to balance environmental pollution and vehicle emission. Technological advancements in automobile batteries, as well as an increase in R&D activities, are driving the market. Power electronics also support high input impedance and enhanced parallel current sharing, which expands the use of power electronic parts in electric vehicles. Top players for EV Power Electronics Market are Denso Corporation, Robert Bosch GmbH, AG Delphi Technologies, Continental AG, Hitachi Automotive Systems, Ltd., Delphi Technologies, Valeo, Mitsubishi Electric Corporation, Infineon Technologies, Hella, Panasonic Corporation, Toyota Industries Corporation and Hangzhou Tiecheng Information Technology Get EV Power Electronics Market Research Report: https://www.marketdecipher.com/customization/2935 Drive Units (E-Axle) Market was valued at US $65.73 billion in 2022 and is projected to reach US $163.1 billion by 2032, growing at a CAGR of 32.6% during the forecast period. The Drive Units (E-Axle) Market is predicted to increase at an exorbitant rate over the forecast period owing to increasing global sales of electric and hybrid vehicles, as are fuel prices. Furthermore, the rise in pollution, the development of the vehicle sector, and the depletion of fossil fuel reserves have spurred global market growth. Increased R&D activities for improving electric and hybrid vehicles, as well as increased deployment of E-Axle in ICE vehicles, are expected to provide attractive chances for E-Axle market expansion. The global increase in the sale of electric vehicles is also predicted to provide new growth possibilities for the industry. Top players for Drive Units (E-Axle) Market are Axletch International, BorgWarner Inc., Continental AG, Dana Incorporated, GKN Plc, Schaeffler Technologies AG & Co. KG, Robert Bosch GmbH, Nidec Corporation, ZF Friedrichshafen AG, AVL List GmbH Get Drive Units (E-Axle) Market Research Report: https://www.marketdecipher.com/customization/2934 The EV Drive System Market Proliferates in North America North America dominates the global EV Drive Systems market attributed the presence of a well-defined regulatory framework and recommendations of government and automotive agencies in this region. Additionally, the growing adoption of minimally invasive procedures will flourish the market's growth rate in this region. In the United States, state-level measures to improve EV deployment and accessible EV models (particularly in the Sports Utility Vehicle sector) are expanding. Furthermore, the government has declared its intention to change federal tax credit programs in order to increase zero-emission vehicle adoption and aid domestic manufacturers. Recent Developments
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