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BEV Electric Drive Unit Market Size
BEV Electric Drive Unit Market size was valued at USD 8.7 billion in 2023 and is projected to grow at a CAGR of 22.7% between 2024 and 2032, owing to factors including stricter emission regulations, rising consumer preference for eco-friendly transportation, and advancements in battery technology that make EVs more competitive. Manufacturers are battling to reduce production costs and improve EDU performance in terms of power, efficiency, and weight which in turn will increase the deployment of electric drive units in future EVs.
Continuous & exponential innovation in motor technology, particularly permanent magnet synchronous motors along with rising EVs aftermarket owing to the increasing adoption of EVs across the globe is creating opportunities for the market growth. For instance, in 08 June,2024 Toyota launched a new range of electric drive unit for battery electric vehicles. The newly launched product offers a compact module that is fixable within the transaxle housing to offer high cabin space and lower centre of gravity.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 8.7 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 22.7% |
| 2032 Value Projection: | USD 56.4 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 90 |
| Tables, Charts & Figures: | 12 |
| Segments covered: | Sales channel, Coolant, & Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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BEV Electric Drive Unit Market Trends
The BEV electric drive unit (EDU) industry is experiencing a period of transformation driven by several key trends including shifting focus towards powertrain diversification which is driving the adoption of BEVs across the globe. Manufacturers are moving away from a one-size-fits-all approach, recognizing the need for configurations tailored to different vehicle types. This means a wider range of EDU options will be available, optimized for specific power and efficiency requirements, catering to everything from high-performance sports cars to budget-friendly sedans.
In addition, rising technological advancements & software integration across electric vehicles including control algorithms which are being developed to optimize motor performance, thermal management, and overall energy efficiency are significantly contributing to the market growth.
BEV Electric Drive Unit Market Analysis
Based on sales channel, the market is segmented into OEM & aftermarket, where OEM EDU industry is anticipated to exceed USD 39.5 billion by 2032. This market growth is induced by key factors including surging EV demand along with rising concern to reduce the conventional fuel vehicles. In addition, OEMs drives the industry as they design and assemble electric vehicles that require large volumes of EDUs for their production lines, making direct sales from EDU manufacturers the most efficient option.
The integration of EDUs with other vehicle components necessitates close collaboration between OEMs and EDU suppliers. This fosters a strong partnership where EDUs are specifically designed to meet the unique performance and efficiency requirements of each OEM's vehicle platform.
Based on coolant the BEV electric drive unit market is segmented oil based and water glycol. Oil based coolant segment is expected to observe around 24% through 2032. The oil-based coolant is easy to maintain and offers high-rust protection along with increasing lubrication & sump life, which in turn increases the product’s rate of adoption in BEVs for higher thermal performance.
The Asia Pacific BEV electric drive unit market is projected to cross USD 30 billion by 2032. This translates to a thriving market for the electric drivers and other components that make these cars run. Rising production capacity for BEVs and advancements in battery technology is further fuelling the market growth to expand its market investments into charging infrastructure, making BEVs a more convenient and realistic option for consumers across Asia Pacific.
The U.S. is witnessing significant investments from traditional automakers like Ford and General Motors, who are partnering with international suppliers to develop competitive EDU solutions. This regional diversification fosters innovation and competition, ultimately leading to a wider range of BEV EDU options for automakers worldwide.
BEV Electric Drive Unit Company Market Share
Companies including AVL, Aisin Corporation, BorgWarner Inc., DANA TM4INC., Equipmake, ElringKlinger AG, FRIWO Gerätebau GmbH are the key operating players in the BEV EDU market which includes using ethically sourced raw materials, developing recyclable components, and optimizing production processes to minimize waste to provide a glimpse into the diverse landscape of BEV EDU players.
BEV Electric Drive Unit Market Companies
Some of the key market players operating across the BEV electric drive unit industry are:
- Aisin Corporation
- AVL
- BorgWarner Inc.
- DANA TM4 INC.
- ElringKlinger AG
- Equipmake
- FRIWO Gerätebau GmbH
- hofer powertrain
- LG Magna e-Powertrain
- Magna International Inc.
- Magnetic Systems Technology Limited
- MAHLE Polska Sp. z o.o
- Nidec Corporation
- Nissan Motor
- Punch Powertrain nv
- Robert Bosch GmbH
- Saietta Group
- Schaeffler AG
- Toyota
- Voith GmbH & Co. KGaA
- Vitesco Technologies GmbH
- ZF Friedrichshafen AGAisin Corporation
- Zytek Automotive Ltd.
Bev Electric Drive Unit Industry News
- In June 2024, Toyota introduced a new inverter drive unit specifically designed for their e-TNGA electric vehicle platform. This technological advancement highlights Toyota's strategic direction in future car manufacturing. The unit prioritizes both efficiency and compactness, optimizing cabin space and lowering the vehicle's center of gravity to enhance handling. This innovation aligns with the company’s broader strategies for both battery EV and hydrogen businesses.
- In March 2023, Nissan unveiled a new strategy for electrifying powertrain development called the X-in-1 approach. This strategic initiative aims to reduce the development and manufacturing costs of core EV and e-POWER powertrain components by 30% by 2026. Additionally, the company seeks to enhance the competitiveness of its EV and e-POWER vehicles, thereby contributing to overall market growth.
The BEV electric drive unit market research report includes an in–depth coverage of the industry with estimates & forecast in terms of volume in ‘Units’ and revenue in ‘USD Billion’ from 2021 to 2032, for the following segments:
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Market, By Sales Channel
- OEM
- Aftermarkets
Market, By Coolant
- Water glycol
- Oil Based
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Norway
- Germany
- France
- Netherlands
- UK
- Austria
- Belgium
- Denmark
- Finland
- Ireland
- Asia Pacific
- China
- India
- Japan
- South Korea
- Hong Kong
- New Zealand
- Australia
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Latin America
- Brazil
- Argentina
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