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Electric Drive Unit Market Size

Report ID: GMI9551
Published Date: May 2024
Report Format: PDF

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Electric Drive Unit Market Size

Electric Drive Unit Market size was valued at USD 20 billion in 2023 and is projected to grow at over 22.8% CAGR from 2024 to 2032. Continuous & exponential rising demand for electric vehicles across the globe along with automotive industry undergoing a transformative shift towards electrification, thereby adopting electric drive units (EDUs) have emerged as critical market influencing factors. For instance, in July 2023, ZF launched the EVSys800, a compact permanent magnet-based drive unit for electric vehicles, which includes radial flux electric motor, coaxial planetary reduction gears, and a compact differential.

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Government incentives, stringent emissions regulations, and advancements in battery technology are accelerating adoption of EVs, thereby fuelling product demand. Furthermore, technological advancements in electric drive units, including improved motor efficiency, power density, and thermal management, enhance the performance and range of electric vehicles, increasing consumer appeal.

Electric Drive Unit Market Report Attributes
Report Attribute	Details
Base Year:	2023
Electric Drive Unit Market Size in 2023:	USD 20 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	22.8%
2032 Value Projection:	USD 130.3 Billion
Historical Data for:	2021 to 2023
No. of Pages:	120
Tables, Charts & Figures:	15
Segments covered:	Vehicle type, Sales channel, Coolant, & Country
Growth Drivers:	Rising technological advancement across electrical Increasing financial incentive and spending for supporting infrastructure Stringent emission norms coupled with transition towards low carbon vehicle
Pitfalls & Challenges:	Fluctuations in raw material availability along with operational complexities

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Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of electric drive unit reached USD 20 billion in 2023 and will grow at 22.8% from 2024 to 2032, led by continuous and exponential rising demand for electric vehicles.

The BEV vehicle type segment is expected to surpass USD 56 billion by 2032, driven by ongoing innovations including improved motor efficiency and thermal management.

Asia Pacific market held a decent share in 2023 and is projected to exceed USD 84 billion by 2032, strengthened by robust supply chains, skilled labor, and supportive government policies.

AVL, Aisin Corporation, BorgWarner Inc., DANA TM4 INC., Equipmake, ElringKlinger AG, FRIWO Gerätebau GmbH, hofer powertrain, LG Magna e-Powertrain, and MAHLE Polska Sp. z o.o among others.