Electric 4 Wheel Drive Car Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028

Electric 4 Wheel Drive Car Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028

The global electric 4 wheel drive car market is anticipated to witness the growth of formidable CAGR during the forecast period, 2024-2028. Increasing demand for luxury cars and developments in the 4 wheel drive car system and its growing penetration in electric vehicles are the major factors driving the growth of the global electric 4 wheel drive car market.

Electric 4 wheel drive car system is equipped with sensors on each wheel that monitor the wheel speed, traction, and other essential data pointers at a rapid rate to enhance the overall driving experience of drivers. Traction conditions can be analyzed to decide which wheel needs power by an electronically controlled unit (ECU) present in the electric 4 wheel drive car system, which improves vehicle handling in all weather conditions. Growing demand for improved safety, drive control, and stability is driving the growth of the electric 4 wheel car system. The electric 4 wheel car system was earlier installed only in luxury cars, but now the introduction of hybrid electric vehicles and passenger cars is expected to accelerate the market demand.

Growing Demand for Sports Utility Vehicle Drives Market Demand

The rise in the purchasing power of consumers in developed and developing countries is enabling them to afford high-performance luxury vehicles. Growing demand for versatility and performance in automobiles, along with growing sales of luxury variant personal vehicles equipped with the latest features and electronic devices leading to greater convenience and comfort of passengers, are expected to boost the sales of sports utility vehicles around the globe. The electric 4 wheel offers better sportier handling and increased grip and traction for smooth navigation, bolstering the demand for passenger cars, especially in sedans, SUVs, and crossovers. Extreme weather conditions in regions, namely Europe and North America, are a significant driver influencing the consumers to buy electric vehicles installed with electric 4 wheel drive car system, and safe on-road drivability are accelerating the demand of the global electric 4 wheel drive car market.

Increasing Sales of Electric Vehicles Supports Market Growth

The alarming growth of the pollution levels and the surge in the concerns regarding the adverse effects of released carbon emission into the environment are creating the demand for zero-emission vehicles using an alternate form of energy as fuel. Leading authorities are providing incentives, subsidies, income tax rebates to the manufacturers and buyers of electric vehicles to promote the adoption of electric vehicles as a daily source of commuting from one place to another. Around 3.1 million units of EVs were sold in 2020. The rise in the number of market players and the intense competition makes them invest in research and development activities to find innovative technologies to increase the fuel efficiency and battery capacity of electric vehicles. Electric vehicles and hybrid electric vehicles are integrated with a regenerative braking system to increase vehicle efficiency and lower the amount of energy wasted and emission while driving the car. Development of the electric vehicle charging stations to facilitate a smooth riding experience while driving the electric cars and the allocation of huge funds by respective government authorities for boosting the construction of electric battery infrastructure is influencing the market demand. Increasing awareness about the benefits of driving through electric vehicles and the high demand for luxury electric vehicles are expected to boost the growth of the global electric 4 wheel drive car market.

Market Segmentation

The global electric 4 wheel drive car market is segmented on the basis of propulsion, vehicle type, battery capacity, regional distribution, and company. Based on the propulsion, the global electric 4 wheel drive car market is divided into BEV, HEV and PHEV. Based on the vehicle type, the global electric 4 wheel drive car market is divided into hatchback, sedan and SUV. Based on the vehicle type, the global electric 4 wheel drive car market is divided into below 25 KWH, 25KWH-40KWH, above 40KWH. To analyze the market based on the region, the global electric 4 wheel drive car market is studied in major regions namely North America, Asia-pacific, Europe & CIS, South America, Middle East, and Africa.

Market Players

Volkswagen Group, BMW AG, Hyundai Motor Company, Daimler AG, Tesla INC, Toyota Motor Company, are among the major market players in the global platform that lead the market growth of the global electric 4 wheel drive car market.

Report Scope:

In this report, global electric 4 wheel drive car market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Electric 4 Wheel Drive Car Market, By Propulsion:
• BEV
• HEV
• PHEV
• Electric 4 Wheel Drive Car Market, By Vehicle Type:
• Hatchback
• Sedan
• SUV
• Electric 4 Wheel Drive Car Market, By Battery Capacity:
• Below 25 KWH
• 25KWH-40KWH
• Above 40KWH
• Electric 4 Wheel Drive Car Market, By Region:
• North America
• United States
• Canada
• Mexico
• Asia-Pacific
• China
• India
• Japan
• Malaysia
• Thailand
• Indonesia
• Vietnam
• South Korea
• Europe & CIS
• Germany
• France
• United Kingdom
• Spain
• Italy
• Belgium
• Russia
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• UAE
• Saudi Arabia
• Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global electric 4 wheel drive car market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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