Global E-Corner System Market Size, Share, and COVID-19 Impact Analysis, By Vehicle Type (Passenger Cars, Commercial Vehicles, Autonomous Vehicles, and Others) By Propulsion Type (Conventional, Electric, and Others), By Technology (Hydraulic E-Corner Systems, Electric E-Corner Systems, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.

Industry: Automotive & Transportation

RELEASE DATE Feb 2024
REPORT ID SI3705
PAGES 200
REPORT FORMAT PathSoft

Global E-Corner System Market Insights Forecasts to 2033.

  • The Global E-Corner System Market Size is Growing at a CAGR of 7.3% from 2023 to 2033.
  • The Worldwide E-Corner System Market Size is Expected to Hold a Significant Share by 2033.
  • North America is Expected to Grow the Fastest during the Forecast period.

Global E-Corner System Market

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The Global E-Corner System Market Size is Anticipated to hold a significant share by 2033, Growing at a CAGR of 7.3% from 2023 to 2033.

 

Market Overview

The E-Corner system, a revolutionary advancement in the automotive industry, enables autonomous control over various aspects of vehicle performance such as steering, braking, suspension, and power. This cutting-edge technology integrates sophisticated electrical systems into the wheel hubs of vehicles, paving the way for exceptional functionality and efficiency. Currently in its early stages, the global E-Corner system market is steadily expanding. To elaborate further, the E-Corner system empowers each wheel to independently adjust its characteristics during high-speed cornering. This remarkable feature significantly enhances traction, reduces body roll, and ultimately enhances stability in a manner that was previously unimaginable. As a result, drivers can experience unparalleled precision in handling, ensuring a safer and more enjoyable driving experience. The introduction of the E-Corner system signifies a breakthrough in the automotive sector. By integrating advanced electrical systems into the wheel. The E-Corner system is mainly made for performance, driving safety, and comfort to levels that were previously unheard of by tailoring vehicle reactions to different driving scenarios. This technique boosts traction on slick terrain, improves agility on twisting routes, and allows for dynamic adaptations for different loads by masterfully controlling the behavior of each wheel. These factors are driving the global E-Corner system market.

 

Report Coverage

This research report categorizes the market for the global E-Corner system market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global E-Corner system market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global E-Corner system market.

Global E-Corner System Market Report Coverage

Report CoverageDetails
Base Year:2022
Forecast Period: 2023-2033
Forecast Period 2023-2033 CAGR:7.3%
Historical Data for: 2018-2021
No. of Pages:200
Tables, Charts & Figures:120
Segments covered:By Vehicle Type, By Propulsion, By Technology, and COVID-19 Impact Analysis
Companies Covered: ZF Friedrichshafen, Elaphe Propulsion Technologies, Hyundai Mobis, Schaeffler Group, Siemens, Protean Electric, Others, and
Pitfalls & Challenges:COVID-19 Empact, Challenge, Future, Growth, & Analysis

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Driving Factors

The global E-Corner systems market has expanded significantly in recent years as a result of the rapid development of technologies like artificial intelligence and the Internet of Things. Major manufacturers are spending a lot of money on research and development to create driverless cars and sophisticated driver assistance systems, both of which rely largely on the exact localization that E-Corners offers. The need for E-Corners that can analyze massive volumes of real-time data from these components has increased due to the integration of advanced sensors, control units, and electric power steering systems in modern automobiles. In addition, the expanding use of small satellites and the rising amount of money coming into space projects are two major factors driving the growth of the global E-Corner system market.

 

Restraining Factors

The design, production, and maintenance of vehicles become far more complex processes with the integration and use of the cutting-edge E-Corner System. Manufacturers' production costs would go up as a result, as staff could have trouble doing maintenance and repairs. It could be challenging to install the E-Corner System into current cars due to the intricate modifications required. This limitation affects the market potential for aftermarket sales and installs. These elements could impede the global E-Corner systems market.

 

Market Segmentation

The Global E-Corner System Market share is classified into vehicle type, propulsion type, technology

  • The autonomous vehicles segment is expected to hold the largest share of the global E-Corner system market during the forecast period.   

Based on the vehicle type, the global E-Corner system market is divided into passenger cars, commercial vehicles, autonomous vehicles, and others. Among these, the autonomous vehicles segment is expected to hold the largest share of the global E-Corner system market during the forecast period. This is because the E-Corner System's capabilities are in line with the growing popularity of electric and driverless vehicles. Precise transmission of torque maximizes performance and efficiency for electric vehicles, and autonomous vehicles can make use of the E-Corner system's capacity to swiftly adapt to changing road conditions and improve passenger comfort. The movement toward electrification and autonomy creates opportunities for autonomous vehicles in the global E-Corner System market.

 

  • The electric segment is expected to grow at the fastest pace in the global E-Corner system market during the forecast period.    

Based on the propulsion type, the global E-Corner system market is divided into conventional, electric, and others. Among these, the electric segment is expected to grow at the fastest pace in the global E-Corner system market during the forecast period. This is due to the growing demand for electric vehicles and the utilization of electric power infrastructure. It shows the major growth of the electric segment in the global E-Corner system market.

 

  • The electric e-corner systems segment is expected to grow at the greatest pace in the global E-Corner system market during the forecast period.

Based on the technology, the global E-Corner system market is divided into hydraulic e-corner systems, electric e-corner systems, and others. Among these, the electric e-corner systems segment is expected to grow at the greatest pace in the global E-Corner system market during the forecast period. This is because the electric E-Corner system is a mechanism that uses an electric motor to assist the vehicle. It offers improved customizable control compared to traditional hydraulic E-corner systems.

 

Regional Segment Analysis of the Global E-Corner System Market

  • North America (U.S., Canada, Mexico) 
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Rest of APAC)
  • South America (Brazil and the Rest of South America) 
  • The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

Asia Pacific is anticipated to hold the largest share of the global E-Corner system market over the predicted timeframe.

Global E-Corner System Market

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Asia Pacific is anticipated to hold the largest share of the global E-Corner system market over the predicted timeframe. The growing population in the Asia-Pacific area and the fact that China leads the world in automobile manufacturing are two factors that will propel the growth of the E-Corner system market during the forecast period. The Indian government is prioritizing funding for road and highway infrastructure. Concerns regarding public safety are growing as a result of the rising number of traffic accidents.

 

North America is expected to grow at the fastest pace in the global E-Corner system market during the forecast period. The United States ranks as the world's second-largest automotive manufacturer. Prominent figures in this field consistently strive to concentrate on technological innovations. The US government's policies, which offer a variety of supporting infrastructure and encourage the use of electric vehicles, are advantageous. It is also anticipated that the market for E-Centre systems will see significant growth due to young peoples growing distaste for pricey, luxurious cars.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global E-Corner System along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • ZF Friedrichshafen
  • Elaphe Propulsion Technologies
  • Hyundai Mobis
  • Schaeffler Group
  • Siemens
  • Protean Electric
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting And Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent Developments

  • In January 2024, CES 2024 saw the world premiere of Hyundai Mobis' (KRX 012330), a global automotive supplier, "MOBION" electric vehicle (EV), which is outfitted with the newest 'e-Corner System' motion technology.
  • In April 2023, A Hyundai Mobis demo vehicle equipped with the "e-Corner System," a crucial piece of technology (KRX 012330), has surfaced on the public road. The technology wowed the audience with its demonstration of future mobility, which included reversing a dead end by turning 180 degrees and parallel parking in a confined spot with only a wheel angle adjustment.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global E-Corner System Market based on the below-mentioned segments: 

 

Global E-Corner System Market, By Vehicle Type

  • Passenger Cars
  • Commercial Vehicles
  • Autonomous Vehicles
  • Others

 

Global E-Corner System Market, By Propulsion Type

  • Conventional
  • Electric
  • Others

 

Global E-Corner System Market, By Technology

  • Hydraulic E-Corner Systems
  • Electric E-Corner Systems
  • Others

 

Global E-Corner System Market, By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Uk
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of the Middle East & Africa

 

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