Growth in Sales of EV Drive Module Market to be Largely Driven by Rising Consumer Adoption

According to latest research EV drive module market is set to witness steady growth during 2021-2031. Demand for EV drive module will witness steady recovery in short term, with optimistic growth outlook in the long run. Surge demand from EV industry, thereby augmenting the need of EV drive module over the forecast period.
What is Driving Demand for EV Drive Module?
The electric drive module combines a next-generation discrete motor-generator and power electronics system into a single system, allowing for synergy effects. The new power electronics have been designed specifically for use with electric motors. As a result, the module can be used as part of a plug-in hybrid or electric vehicle's electric powertrain.
This decade is shaping up to be the most disruptive for the automobile industry, with crucial trends such as alternative cars, autonomous vehicles, shared vehicles, and connected vehicles drastically reshaping the sector. Alternative cars, particularly electric vehicles, have garnered the most popularity in the industry due to its zero-emission characteristic.
The interest of non-car organizations, for example, Google and Apple in the improvement of electric vehicles is required to advance the EV drive module's positive development in the coming years.
Advance Technology in EV, Likely to Augment EV Drive Module Sales
To make electric vehicles a more viable alternative for customers, automakers have been working assiduously on the creation of efficient infrastructure, supply chains, and high-performance and cost-effective components. One of the most exciting advancements is the development of an EV drive module.
The creation of an efficient drive module for electric vehicles has gotten a lot of attention and interest in the last few years, thanks to the efforts of researchers and manufacturers in the sector.
For electric vehicles, the electric drive module is a small, highly integrated, and all-in-one powertrain solution. Integration of the three basic components (electric motor, power electronics, and transmission) of an electric powertrain into a single module, which improves performance and eliminates many components including connectors, cables, and hydraulic connections, will drive market growth in the coming years.
North America EV Drive Module Market Outlook
North America is estimated to be one of the prominent region globally for drive module. The U.S. is set to account for substantial share in global market during the assessment period 2021-2031.
The expansion of the EV drive module is closely tied to the demand for electric vehicles. The fact that the United States has a substantial presence of assembly plants for major electric vehicle OEMs, as well as rigorous pollution regulations imposed by regulatory bodies, would expand the penetration of electric vehicles and drive module sales in the future.
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