Get a free sample of BEV Electric Drive Unit Market
Thank you!
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
Get a free sample of BEV Electric Drive Unit Market
Thank you!
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
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.
Why is the demand for BEV electric drive units rising through OEMs?
The OEM segment in the BEV electric drive unit industry will exceed USD 39.5 billion by 2032, driven by surging EV demand along with rising concerns to reduce the conventional fuel vehicles.
How much is the BEV electric drive unit market worth?
The market size of BEV electric drive unit reached USD 8.7 billion in 2023 and will witness 22.7% CAGR from 2024 to 2032, owing to factors including stricter emission regulations, rising consumer preference for eco-friendly transportation
Why is the BEV electric drive unit market booming in Asia Pacific?
Asia Pacific market is anticipated to grow at over USD 30 billion by 2032, led by rising production capacity for BEVs and advancements in battery technology.
Who are the major BEV electric drive unit industry players?
Magnetic Systems Technology Limited, MAHLE Polska Sp. z o.o, Nidec Corporation, Nissan Motor, Punch Powertrain nv, Robert Bosch GmbH, Saietta Group, and Schaeffler AG among others.