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Published Fri, Apr 15th 2022 CATEGORIES
Electric onDemand AllWheel Drive System Market to Partake Significant Development during 2031
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Electric onDemand AllWheel Drive System Market is projected to drive rapidly as Increased adoption of EV performanceenhancing technologies such as electric ondemand AWD systems coupled with increased trends toward electric vehicles. Posted via Industry Today. Follow us on Twitter @IndustryToday
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Electric onDemand AllWheel Drive System Market:
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The rise in the integration of AWD in electric vehicles is likely to drive the global electric ondemand allwheeldrive system market. The front and rear wheels of an electric allwheel drive (AWD) vehicle are powered by an electric motor. The front and rear wheels may or may not be operated by the same motor. Two motors, one for each axle, can be used in vehicle configuration to divide the torque among all four wheels.
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Key Drivers of Electric onDemand AllWheel Drive System Market
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Rising demand for superior ride handling and traction control is expected to drive the demand for electric ondemand AWD. All wheeldrive systems save energy when the vehicle is operating on a low load. AWD systems offer better power distribution at the wheels by using two or more motors improves power efficiency. Tesla Model S utilizes two motors to provide AWD. The rear motor is employed for acceleration, while the front motor is used for cruising. Consequently, it offers an enhanced ride experience and an efficient drive. Ongoing technological advancements in EV batteries and a surge in the demand for batteries have increased the production of EV batteries in large volumes. New battery technologies have lowered the cost of EV batteries in the last decade. This has led to a decrease in electric vehicle ownership costs, as EV batteries are one of the most expensive parts of an electric vehicle. For instance, in 2010, the price of an EV battery was around US$ 1,100 per kWh, which was reduced to around US$ 137 in 2020 per kWh. This price is even low in China, i.e. US$ 100 per kWh. This is due to the reduction of manufacturing costs of EV batteries, reduced cathode material prices, and greater volumes of production. Therefore, the preference for electric vehicles is increasing, resulting in higher sales volume. Increased adoption of EV performanceenhancing technologies such as electric ondemand AWD systems coupled with increased trends toward electric vehicles is driving the global electric ondemand allwheeldrive system market.
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Electric onDemand AllWheel Drive System Market: COVID Impact
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In 2020, the production and sales of new vehicles had come to a halt worldwide, as the whole automotive ecosystem had been disrupted due to the outbreak of COVID 19. Automakers and OEM players had to wait until lockdowns were lifted to resume production, which affected their businesses. Hence, vehicle manufacturers had to adjust the production volume. The automotive industry is highly capitalintensive and relies on frequent financing to continue operations. Thus, the production suspension during the initial months of the outbreak and lower demand had an unprecedented impact on EV manufacturers in the initial months of the pandemic. Manufacturing units around the world were shut down in the first half of 2020 and vehicle sales have taken a huge hit. However, the majority of the automakers resumed vehicle production with limited production and necessary measures. Conditions improved in the latter months; however, overall EV manufacturers did not suffer much as demand for zeroemission vehicles increased during the latter months of 2020. This led to an overall increase in demand for electric vehicles in the market. Therefore, an increase in demand for electric vehicles globally is likely to fuel the electric ondemand allwheeldrive system market in 2021
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Get COVID19 Analysis @ https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=82512 The Asia Pacific to account for a prominent share of the global electric ondemand allwheeldrive system market In terms of region, the global electric ondemand allwheeldrive system market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa The Asia Pacific dominated the global electric ondemand allwheeldrive system market. China is the world’s largest EV producer and the user has dominance in the EV industry in the Asia Pacific. The Government of China has taken steps such as subsidies for EV buyers, compulsory laws by which all vehicle manufacturers need to manufacture EVs per a number of vehicles manufactured, large support for the installation of EV charging points across major cities, and regulations against excessive polluting vehicles. The EV market in Japan and South Korea has also been expanding for the last few years. Their governments have supported the rise in demand for EVs by installing EV charging stations, enacting stringent emission norms, setting up deadlines for shifting to full or hybrid EVs from ICE vehicles, etc. Additionally, India is likely to witness a boost in the demand for EVs during the forecast period. All these factors showcase the increased demand and production of electric vehicles during the forecast period in the Asia Pacific. Therefore, Asia Pacific is likely to hold a major share of the global electric ondemand allwheeldrive system market. Inquiry Before Buying: https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=82512 Key Players Operating in Electric OnDemand AllWheel Drive System Market The global electric ondemand allwheeldrive system market is concentrated owing to the presence of top manufacturers. A few key players operating in the global electric ondemand allwheeldrive system market are: AB Volvo Audi AG Dr.Ing. h. c. F. and Porsche AG GKN Automotive Ltd. Honda Motor Company Ltd. Nissan Motor Co., Ltd. Robert Bosch GmbH Tesla Inc. Toyota Motor Global Electric OnDemand AllWheel Drive System Market: Research Scope Global Electric OnDemand AllWheel Drive System Market, by Vehicle Type Passenger Vehicle Commercial Vehicles Global Electric OnDemand AllWheel Drive System Market, by Electric Vehicle Type Battery Electric Vehicles Hybrid Electric Vehicles Plugin Hybrid Electric Vehicles Global Electric you OnDemand Drive System by System Type We use cookies to ensure get theAllWheel best experience onMarket, our website - change your settings
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Manual AllWheel Drive Automatic AllWheel Drive This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a closeknit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their missioncritical priorities with confidence. TMR Latest News Publication: Urban Rail Transit Market The growing government spending on modern public transportation for decongesting urban traffic is a key factor driving the urban rail transit market. Governments in major cities of the world are working to have urban rail transit systems in place for faster and easy movement of commuters. Changing mobility trends in urban areas of emerging countries for safe, faster, and affordable travel solutions make urban rail transit systems sought after. About Us Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forwardlooking insight for thousands of decisionmakers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information. Our data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. Contact Rohit Bhisey Transparency Market Research 90 Sate Street, Suite 700 Albany, NY 12207 Tel: +15186181030 USA Canada TollFree: 8665523453 Email: sales@transparencymarketresearch.com Website: https://www.transparencymarketresearch.com
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