Oil Based Electric Drive Unit Market Analysis

Based on vehicle type, the market is segmented into BEV, HEV, and PHEV. The BEV oil-based EDU market is projected to surpass over USD 38.5 billion by 2032. Ongoing developments in boosting the operational capabilities of batteries including better energy storage capacity coupled with the developing charging infrastructure are among the key factors augmenting the deployment of BEVs over the years.

Based on sales channel, the oil based electric drive unit market is divided into OEM & aftermarket. The OEM industry will expand at a CAGR of over 24.5% through 2032. OEMs are driving innovations in the design and development of the product and are investing heavily in research & development to create cutting-edge solutions that enhance the performance, efficiency, and reliability of electric vehicles (EVs).

The Asia Pacific oil based electric drive unit market is anticipated to surpass over USD 58.2 billion by 2032. The automakers in developing nations including China, India, Indonesia, among others are heavily investing in the research & development of electric drive unit system components with a strong focus on related infrastructure development. The competitive landscape is characterized by a mix of established OEMs and emerging startups, which are contributing to the advancements in electric drive unit technology.

Proactive government support toward the adoption of electric vehicles and development of EV charging stations has further translated into an overall industry growth. The industry expansion is largely attributed to escalating energy prices, and growing preference for energy-efficient solutions. In addition, the countries including U.S. & Canada are expected to grow at a higher rate owing to stringent policies towards adoption of electric vehicles along with accelerating trends toward reducing carbon footprints.