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Asia Pacific Electric Drive Unit Market Size - By Vehicle type (BEV, HEV, PHEV), By Sales Channel (OEM, Aftermarket), By Coolant (Water Glycol, Oil Based) & Forecast, 2024 – 2032

  • Report ID: GMI8901
  • Published Date: Apr 2024
  • Report Format: PDF

Asia Pacific Electric Drive Unit Market Size

Asia Pacific Electric Drive Unit Market size was assessed at USD 15.4 billion in 2023 and is envisioned to grow at a CAGR of 23.3% between 2024 and 2032. The growing uptake of electric vehicles, coupled with a heightened emphasis on enhancing EV performance and efficiency, are pivotal factors influencing product adoption on a global scale. International initiatives aimed at regulating energy-efficient practices to reduce carbon footprints are expected to bolster business prospects.

Asia Pacific Electric Drive Unit Market

The product's penetration into new segments, such as electric buses and commercial vehicles, alongside the increasing integration of industrial automation and robotics, will drive its adoption in the foreseeable future. For instance, in September 2022, Robert Bosch unveiled an electric mobility solution tailored for its commercial vehicle line, initiating mass production of innovative drive units designed for light commercial vans and medium-sized trucks. These electric propulsion systems offer substantial benefits for these applications, including emission reduction and quieter operation, thereby contributing to improved urban air quality.

Asia Pacific Electric Drive Unit Market Trends

The automotive industry in the Asia Pacific region is increasingly embracing electrification, with major automakers investing in electric vehicle development and a rapid rollout of electric vehicle charging stations. This trend is bolstering the business outlook for advanced electric drive units (EDUs) that offer enhanced performance, efficiency, and reliability. Manufacturers in the region are placing a strong emphasis on innovation and technological advancements to address changing market needs. This focus has led to the creation of next-generation electric drive units (EDUs) with enhanced power density, lighter weight, and improved thermal management capabilities. Additionally, growing inclination towards designing integrated EDU systems, enabling seamless integration of motor, inverter, gearbox, and control software, resulting in improved performance and efficiency, will positively cater to the industry expansion.

Asia Pacific Electric Drive Unit Market Analysis

Asia Pacific Electric Drive Unit Market, By Vehicle Type, 2022 – 2032 (USD Billion)

Based on vehicle type, the market is segmented into BEV, HEV, & PHEV. The BEV Asia Pacific electric drive unit industry is anticipated to surpass over USD 37 billion in 2032. Rising production capacity and advancing battery technology in battery electric vehicles (BEVs) are key drivers in the industry. Increased investment in charging infrastructure, including fast-charging networks, residential charging solutions, and workplace charging stations, is also contributing significantly to market expansion.

Asia Pacific Electric Drive Unit Market Revenue Share, By Sales Channel, 2023

Based on sales channel, the market is segmented into OEM & aftermarket. The OEM Asia Pacific electric drive unit sales channel industry is set to grow at a rate of over 24% by 2032. The region is experiencing a swift rise in electric vehicle (EV) adoption due to heightened sustainability efforts. Consequently, there is a growing demand for aftermarket services such as maintenance, repairs, and replacements of electric drive units (EDUs). This trend creates opportunities for companies specializing in EDU services and spare parts, thereby enhancing the overall business landscape.

China Electric Drive Unit Market Size, 2022 – 2032 (USD Billion)

The China electric drive unit market is forecasted to exceed over USD 90 billion by 2032. Government aid for electric vehicle adoption and high EV charging infrastructure development has played a pivotal role in driving industry expansion. The sector's growth is primarily propelled by escalating energy expenses and a growing inclination towards energy-efficient solutions. For instance, in June 2023, the Government of China announced that the new energy vehicles (NEVs) bought in 2024 and 2025 will get a tax exemption of up to 30,000 USD 4,000 per vehicle, incentivizing their adoption in the market. This will set to witness an increase in demand for electric drive unit, thereby boosting the business landscape.

Asia Pacific Electric Drive Unit Market Share

Company Market Share Analysis, 2023

GKN Automotive Limited, hofer powertrain, Magna International Inc., Schaeffler AG, and DANA TM4 INC. are key players in the Asia Pacific electric drive unit (EDU) market. These firms prioritize strategic partnerships, the introduction of new vehicle models, and post-market strategies to enhance their market footprint. Moreover, they allocate significant investments to research initiatives aimed at unveiling innovative vehicle models, with the ultimate goal of maximizing revenue in the sector.

Asia Pacific Electric Drive Unit Market Companies

Some of major industry stakeholders that are actively operating the Asia Pacific electric drive unit industry are as follows:

  • AVL
  • Continental AG
  • Danfoss
  • ElringKlinger AG
  • FRIWO Gerätebau GmbH
  • GKN Automotive Limited
  • hofer powertrain
  • Magna International Inc.
  • LG Magna e-Powertrain
  • MAHLE Polska Sp. z o.o
  • Robert Bosch GmbH
  • Schaeffler AG
  • Siemens
  • thyssenkrupp Automation Engineering GmbH
  • TMEIC Corporation.
  • Vitesco Technologies GmbH
  • Voith GmbH & Co. KGaA

Asia Pacific Electric Drive Unit Industry News

  • In November 2023, GKN Automotive Limited introduced a new modular electric drive unit to cater the increasing demand of electric vehicles. The product will be installed in various vehicles including compact cars to light commercial vehicles.
  • In June 2023, NIDEC CORPORATION, in partnership with Renesas Electronics Corporation, announced plans to collaborate on developing semiconductor solutions for the next-generation E-Axle integrated within electric vehicle (EV) drive motors and power electronics.

The Asia Pacific electric drive unit market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume in ‘Units’ & revenue in ‘USD Billion’ from 2019 to 2032, for the following segments:

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Market, By Vehicle Type

  • BEV
  • HEV
  • PHEV

Market, By Sales Channel

  • OEM
  • Aftermarket

Market, By Coolant

  • Water Glycol
  • Oil Based

The above information has been provided for the following countries:

  • China
  • India
  • Japan
  • South Korea
  • Hong Kong
  • New Zealand
  • Australia


Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of electric drive unit in Asia Pacific reached USD 15.4 billion in 2023 and is set to witness 23.3% CAGR till 2032, led by the growing uptake of electric vehicles.

BEV from vehicle type segment is poised to cross USD 37 billion by 2032, driven by rising production capacity and advancing battery technology.

China market is projected to exceed USD 90 billion by 2032, propelled by government aid for electric vehicle adoption and high EV charging infrastructure development.

AISIN CORPORATION, AVL, Continental AG, Danfos, ElringKlinger AG, FRIWO Gerätebau GmbH, GKN Automotive Limited, hofer powertrain.

Asia Pacific Electric Drive Unit Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 19
  • Tables & Figures: 400
  • Countries covered: 7
  • Pages: 250
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