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Oil Based Electric Drive Unit (EDU) Market Size

Report ID: GMI10690
Published Date: Aug 2024
Report Format: PDF

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Oil Based Electric Drive Unit Market Size

Oil Based Electric Drive Unit Market size was valued at USD 12.2 billion in 2023 and is projected to grow at a CAGR of 24.5% between 2024 and 2032. Industry growth is being significantly driven by increasing financial incentives and substantial spending on supporting infrastructure. These measures are being adopted by governments and policymakers across the globe as a strategic response to the pressing concerns of environmental sustainability and the transition towards cleaner transportation alternatives.

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The global shift towards electric vehicles is a significant driver. As EV adoption rises, the demand for efficient and reliable electric drive units, including oil-based systems, is increasing. These units are crucial for ensuring the performance and longevity of EVs. In addition, continuous advancements in technology, particularly in battery efficiency and electric drive systems, are propelling market growth. Innovations such as improved lubrication solutions and enhanced thermal management systems contribute to the efficiency and performance of electric drive units?.

Oil Based Electric Drive Unit Market Report Attributes
Report Attribute	Details
Base Year:	2023
Oil Based Electric Drive Unit Market Size in 2023:	USD 12.2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	24.5%
2032 Value Projection:	USD 89.8 Billion
Historical Data for:	2021 to 2023
No. of Pages:	120
Tables, Charts & Figures:	15
Segments covered:	Vehicle Type, Sales Channel, & Region
Growth Drivers:	Increasing demand for Electric Vehicles (EVs) Rapid development of EV infrastructure
Pitfalls & Challenges:	Supply chain disruptions

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Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of oil based electric drive unit (EDU) reached USD 12.2 billion in 2023 and will expand at 24.5% CAGR between 2024 and 2032, led by the growing demand for energy-efficient vehicles, advancements in electric vehicle (EV) technology, and increasing investments in EV infrastructure.

The BEV segment will surpass USD 38.5 billion by 2032, due to the increasing adoption of battery electric vehicles (BEVs) worldwide.

Asia Pacific market will reach USD 58.2 billion by 2032, owing to the region's booming automotive sector and significant investments in electric vehicle (EV) infrastructure.

Aisin Corporation, BorgWarner Inc., DANA TM4 INC., GKN Automotive Limited, Integral Powertrain Limited, LG Magna e-Powertrain, Magna International Inc., Magnetic Systems Technology Limited, Nidec Corporation, Punch Powertrain nv, Robert Bosch GmbH, Schaeffler AG among others.