Industry Background:
All-wheel drive electric vehicles are those types of vehicles wherein both the front and the rear wheels are attached to an electric machine. It is not necessary that the wheels are always connected to the same motor as there can be more than just one motor for the purpose of driving the vehicle. Also, at times there is more than one battery used in electric vehicles. These vehicles are considered to be the transportation of the future. The energy stored in the battery is used for propulsion due to the low noise, zero-emission, and green vehicle uses. AWD electric vehicles have not gained enough popularity in the automotive market yet in comparison to the AWD conventional vehicles which are widely popular and used vehicles in the day to day life. In AWD electric vehicles the control unit controls the splitting of power among the motors for running the vehicle, also the total torque demand would split among the motors and all four wheels. One of the motors drives the front wheels and the other is responsible for the rear wheels. In addition to these, there can be 4 motors used that can be connected to all four wheels of the electric vehicle.This growth is primarily driven by Rapid Growth of the Automobile Sector in Emerging Economies is Driving the Market Demand
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Automobiles sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Volkswagen AG (Germany), Chevrolet (United States), Jaguar (United Kingdom), Ford Motor Company (United States), Tesla, Inc. (United States), Hyundai Motor Company (South Korea), Renault (France), Zhejiang Geely Holding Group (Hong Kong), Mahindra Group (India), Honda Motor Company, Ltd. (Japan), Toyota Motor Corporation (Japan) and Mitsubishi Group (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
Fixter, a start-up that specializes in the digitalization of car repair, has been acquired by Renault Group. This acquisition is a component of a plan to create cutting-edge digital solutions for the Independent After Market (IAM) in Europe, for both retail and business consumers.
In order to grow its EV-related business, Volkswagen Group is investing in battery start-ups like Quantum Scape. Recently, 24M Technologies entered into a strategic alliance. Volkswagen Group had bought a 25% share in the business, according to a statement from 24MThe companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Influencing Trend:
Growing Trend of Integrating Automation in the Industrial Sectors, Increasing Car Penetration in Emerging Economies and Technological Advancements in the Electric Vehicles Along With the Trends of Vehicle Downsizing and Light-Weighting Will Further Boost the Demand for the Market
Market Growth Drivers:
Rapid Growth of the Automobile Sector in Emerging Economies is Driving the Market Demand, The Need for Reduced Dependence on Fossil Fuels and Improved Carbon Footprints Is Driving Advances in the Technologies Used In All Vehicles and Enhanced Driver Experience and Power Train Efficiency with Increased Mileage
Challenges:
Lack of Awareness about the All-Wheel Drive Electric Cars in Comparison to Conventional Cars and Concerns Related To Their Complexity of Design
Restraints:
High Cost of All-Wheel Drive Electric Vehicles
Opportunities:
The Rise in Demand for Improved High Output Power Train Efficiency Which Is Likely To Bring More Opportunities to the Market and Increasing Concerns Regarding the Battery and Passenger Comfort will provide a Boost to the All-Wheel Drive Electric Vehicle Market
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of All Wheel Drive Electric Vehicle Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of All Wheel Drive Electric Vehicle Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of All Wheel Drive Electric Vehicle players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, All Wheel Drive Electric Vehicle Study Sheds Light on
The All Wheel Drive Electric Vehicle Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the All Wheel Drive Electric Vehicle industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where All Wheel Drive Electric Vehicle industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.