(MENAFN- GlobeNewsWire - Nasdaq) The introduction of stringent regulations and government incentives promoting EV adoption are the key factors driving market expansion.
New York, USA, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Market Overview
The market for 3 in 1 electric drive module (eDrive modules) is poised to grow, according to the latest research report by Polaris Market Research. The 3 in 1 electric drive module (eDrive modules) market size was valued at USD 109.72 billion in 2024 and is projected to grow to USD 447.35 billion by 2034. It is projected to exhibit a CAGR of 15.1% from 2025 to 2034.
What Are 3 in 1 eDrive Modules?
3 in 1 eletric drive modules (eDrive modules) are compact units that combine electric motors, transmission, and power electronics in an automobile. The new power electronics in EVs are specifically optimized for attachment to the electric motor, meaning eDrive modules serve as an electric powertrain for electric and hybrid vehicles. The high efficiency of eDrive modules can help extend the battery range or reduce the battery capacity required. Also, these modules can significantly reduce exhaust gases and noise emissions in electric vehicles.
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What Are Key Report Highlights?
The market for 3 in 1 eDrive modules is anticipated to exhibit robust growth, reaching USD 447.35 billion by 2034. The shift toward integrated systems that combine advanced modules for better performance and energy efficiency is driving the adoption of eDrive modules. The market segmentation is primarily based on application, type, and region. Based on type, the <150kW segment dominates the market due to the widespread application of these modules in compact and mid-sized EVs. The key regions covered in the 3 in 1 electric drive module market research report are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Who Are Market Key Players?
The leading market participants are focusing on the development of advanced modules to garner a larger market revenue share. Also, they are focusing on strategic initiatives to expand their market reach. A few of the market key players are:
Robert Bosch GmbH Continental AG ZF Friedrichshafen AG Magna International Inc. BorgWarner Inc. Nidec Corporation Hitachi Automotive Systems GKN Automotive Schaeffler Group Dana Incorporated Valeo MAHLE GmbH Tesla, Inc. Denso Corporation
What's Driving Market Forward?
Integration of Advanced Power Electronics : With rising demand for EVs, manufacturers are increasingly focusing on improving the efficiency and performance of eDrive modules. Advanced power modules are being incorporated into these modules, offering higher efficiency and improved power density. The integration of advanced power modules is driving the 3 in 1 electric drive modules market expansion.
Rising Focus on Thermal Management : eDrive modules combine several components into one unit, making heat management increasingly challenging. To address this, manufacturers are increasingly incorporating innovative cooling materials to efficiently dissipate heat, ensuring the longevity and reliability of these modules.
Shift Towards Modular Designs : Automakers are increasingly adopting modular architectures that enable higher flexibility in vehicle design and production. This shift towards modular designs is another factor driving the 3 in 1 electric drive modules market development.
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Which Region Leads Market Demand?
Asia Pacific : Asia Pacific dominates the market for 3 in 1 electric drive modules. The rapid growth of the EV industry in countries such as China and India is driving the demand for eDrive modules in the region. The presence of strong government incentives and a robust domestic supply chain for eDrive components further supports the regional market development.
Europe : Europe is a major market for 3-in-1 electric drive modules, fueled by the region's strong commitment to reducing carbon emissions and transitioning to electric mobility. The strict emission standards established by the European Union and various government initiatives, such as subsidies and incentives, for EV adoption also drive the 3-in-1 electric drive modules market growth in the region.
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How Is Market Segmentation Done?
By Application Outlook
By Type Outlook
By Regional Outlook
North America Europe Germany France UK Italy Spain Netherlands Russia Rest of Europe
Asia Pacific China Japan India Malaysia South Korea Indonesia Australia Vietnam Rest of Asia Pacific
Middle East & Africa Saudi Arabia UAE Israel South Africa Rest of Middle East & Africa
Latin America Mexico Brazil Argentina Rest of Latin America
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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