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Electric Drive Unit Market Trends

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

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Electric Drive Unit Market Trends

The market is experiencing increasing adoption of EVs, driven by government incentives, stringent emissions regulations, and growing environmental consciousness. Additionally, manufacturers are prioritizing EDU technological advancements to optimize electric vehicle performance and range which is driving the demand for the product. Moreover, increasing innovation in electric propulsion systems are highlighting dynamic growth and opportunities in the market.

For instance, in November 2023, GKN Automotive Limited unveiled a new modular electric drive unit to meet the growing demand for electric vehicles. Moreover, rising demand for diverse electric drive unit configurations to meet the needs of different vehicle types will fuel the business outlook over the coming years.

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 Ger