The global e-Corner market is projected to grow from 128 thousand units in 2024 to 3,109 thousand units by 2035 at a CAGR of 33.7%. An e-Corner system is an advanced, modular technology designed to control the motion and dynamics of a vehicle. The e-Corner system is designed as a detachable unit to a specialized vehicle platform via bolted connections and a power connector, facilitating ease of assembly and modular design flexibility. All the functions within an e-Corner system are managed through an integrated electrical control system, which communicates with the vehicle’s central control unit. Depending upon the configuration, a vehicle can utilize either a tri-motor or quad-motor (in-wheel/near-wheel) configuration, enabling enhanced maneuverability, precise motion control, and scalability for applications such as electric, autonomous, and modular vehicles.
Light Commercial Vehicle will be the largest market growing segment in North America during the forecast period.
North America is leading the e-corner system market for the light commercial vehicles, with home to leading OEMs such as Tesla, GM, and Rivian among others, and is also a strong operational base for e-corner module manufacturers such as REE. These OEMs incorporate e-Corner Module in their light commercial vehicles such as GMC Hummer EV, Tesla Cybertruck, Rivian R1T with quad-motor configurations. One of the local OEMs, Rivian plans to integrate its electric vehicle design intellectual property (IP) into new models such as R1T (quad-motor variant) and other upcoming models, which are likely to boost the sales of this vehicle lineup. Apart from Light commercial vehicles these e-Corner module manufacturers are also exploring the opportunities in heavy commercial vehicles. REE is expanding their regional integration centres and manufacturing units. For instance, In July 2024, REE Automotive continued its regional expansion in North America, securing a USD 45.35 million funding round and a strategic manufacturing agreement with Motherson Group. This development, alongside the launch of production in Michigan and Maryland, positioned REE to meet the increasing demand for software-defined electric trucks.
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Europe will grow at fastest CAGR during the forecast period.
The region is home to the leading electric corner module manufacturers, such as Schaeffler AG, Continental AG, REE and ZF Friedrichshafen AG among others. These manufacturers are investing heavily on R&D to incorporate e-Corner module in the EV platforms. For instance, in March 2021, REE Automotive launched five advanced REEcorner™ architectures and EV platforms for commercial EVs in the region. In November 2021, REE launched its first European Integration Centre in Coventry, UK, to advance commercial production of its P7 electric platform for commercial vehicles. Germany leads the e-corner system market due to investments in infrastructure by companies like Volkswagen in R&D expansion and partnerships with technology providers such as Deepdrive. Market players such as Continental, DeepDrive, and REE are partnering with local technology providers to co-develop electric corner modules, revolutionizing vehicle electrification through investments in infrastructure. For instance, in October 2023, Continental and Munich-based DeepDrive formed a strategic partnership to develop an innovative electric vehicle drive-brake system. The collaboration focused on integrating a dual-rotor electric motor with brake technology directly mounted on vehicle wheels, enhancing efficiency, and reducing space requirements.
The major players dominating the e-Corner market are Schaeffler AG (Germany), Protean (UK), Hyundai Mobis (South Korea), REE (Israel), Continental AG (Germany), and Elaphe LTD (Slovenia) among others. And leading OEMs incorporating e-Corner modules are BYD (China), Tesla (US), and Hyundai Motor Company (South Korea), among others.
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