Global All Wheel Drive Electric Vehicle Market - Growth Analysis and Forecast | Technavio

Technavio has published a new market research report on the global all wheel drive (AWD) electric vehicle market from 2018-2022. (Graphic: Business Wire)

LONDON--()--The global all wheel drive (AWD) electric vehicle market is expected to grow at a CAGR of close to 33% during the period 2018-2022, according to a new market research study by Technavio.

The report presents a comprehensive research of the global all wheel drive electric vehicle market by product that includes AWD HEVs and AWD fully electric vehicles. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

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Market driver: better handling and off-roading capability

The global EV market is gaining popularity due to the growing emphasis on energy efficient, fuel saving, and zero emissions technologies and systems. EVs designed as zero-emissions vehicles are finding greater demand year-over-year. Most of the regions are also witnessing rising demand for SUVs that have better handling and off-roading capabilities. The high demand for SUVs has also led to the introduction of hybrid SUVs by prominent OEMs.

According to a senior analyst at Technavio for automotive manufacturing research, “Automotive OEMs are increasingly adopting the AWD system for their hybrid-SUVs variants to provide better handling and off-roading capability in varying terrains. The system gives flexibility in power distribution between front and rear wheels by adding a motor to an axle other than the engine axle.”

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Market trend: growing popularity of regenerative braking system to drive AWD EVs

The regenerative braking system is widely considered to be a preferred device by OEMs in hybrid and fully electric vehicles. This system enhances energy efficiency and fuel efficiency by preventing wastage of energy during braking. The emission reduction and add-on features by advanced regenerative braking system give EVs the added benefits that make them more viable for touring purposes. The efficiency of the regenerative system is highly dependent on the energy captured from the wheels. In AWD EVs, regenerative braking is increased substantially as energy can be recaptured from all four wheels when compared with conventional EVs that can only recapture energy from the two wheels being driven. Hence, EVs are more likely to adopt AWD system as regenerative braking system is crucial fitment in the vehicles to increase mile range.

Market challenge: impact on AWD EV performance due to battery issues

AWD EVs consist of battery-operated, electric motors to power a set of wheels. Thus, the battery performance is critical to the efficient working of the AWD EVs. Even though EV battery packs come with 6-10 years/100,000-mile warranty, the battery performance is based on several factors such as the number of the charge cycle, depletion rate, charging and discharging durations, and humidity. Therefore, EV owners are uncertain about the time of battery failure.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The global all wheel drive (AWD) electric vehicle market is expected to grow at a CAGR of close to 33% during 2018-2022, according to Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com