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Hybrid and Electric Vehicle Integrated Drive Unit Market (HEVs, BEVs): Growth, Future Prospects & Competitive Analysis, 2015 - 2027

The global market is expected to cross-market value of USD 4.80 Million Units in 2027 from USD 3.9 Million Units in 2020. It is expected to grow at a CAGR of over 3.9% during the forecast period.

Increased government funding for EVs, cost savings achieved through IDU adoption, and IDU's ability to make EVs more competitive through weight reduction are driving the market. Furthermore, increased government funding for electric vehicles is expected to fuel market growth. Credence Research is offering holistic information and absolute accuracy in the report titled "Global Hybrid and Electric Vehicle Integrated Drive Unit Market."

Key Market Drivers and Restraints

Factors that greatly impact the market growth of industrial electric vehicles will be covered here. Also, covers factors that may challenge or act as an opportunity for the market will be discussed to identify revenue generation.

Impact of COVID-19 on this Market

COVID-19 has the potential to have three major effects on the global economy:

  • Causing supply chain and consumer instability
  • Having a financial impact on businesses and financial markets
  • Directly influencing production and demand

COVID-19 has had a wide range of consequences, including quarantines, restaurant closing, flight cancellations, travel bans, and all indoor activities being limited in over forty countries. In addition, a significant slowing of the Hybrid and Electric Vehicle Integrated Drive Unit market instability, declining business morale, increasing fear among the population, and confusion about the future have all been recorded as a result of the outbreak.

Asia-Pacific to Dominate the global market

On the geographic front, the global market comprises six regions with all key economies pertaining to it. Credence Research provides in-depth insight into prominent regions of the global market. Asia-Pacific dominated with over 54.32% share in 2020. In the upcoming years, Asia Pacific is projected to have the fastest growth in the industry. Increased fleet and traffic, the deployment of new production facilities, and a rise in automobile sales due to growing expenditures and upcoming passenger and commercial vehicles are all contributing to Asia Pacific's growth.

BEVs continue to dominate the global market in terms of Applications.

HEVs and BEVs are the two various applications of this market. BEVs dominated the market in 2020 compared to HEVs market growth rate. This is due to the amalgamation of costs and convenience (charging time, autonomy, available infrastructure). At the same time, hybrid technology solutions may act as the bridge between new and mature technologies.

Frequently asked questions

The market for Wireless Electric Vehicle (EV) Charging System is expected to reach USD 4.80 Million in 2027.

The Hybrid and Electric Vehicle Integrated Drive Unit Market is expected to see significant CAGR growth over the coming years, at 3.9%.

The report is forcasted from 2015-2027

The base year of this report is 2021.

BorgWarner Inc., Continental AG, FEV Group GmbH, Hitachi Ltd., Magna International Inc., Meidensha Corp., Melrose Industries Plc, Meritor Inc., Robert Bosch GmbH Siemens A are some of the major players in the global market.

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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  May 2021
Category:  Automotive & Transportation
Report ID:   60359
Report Format:   PDF
Pages:   120
Rating:    4.3 (58)
Delivery Time: 24 Hours to 48 Hours   
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