The Automotive E-axle Market is valued at USD 9.7 billion in 2022 and is projected to reach a value of USD 113.1 billion in 2030 expanding at a CAGR of 31.9% over the forecast period of 2022-2030.
For electric and hybrid vehicles, the power source is an electric axle, commonly referred to as an e-axle. These completely regulated devices include mounting hardware, bearings, shafts, pinions, differential gearing, and other parts made of lightweight, high-strength metal. It is mounted on the back axle, while the front wheels are turned by either an internal combustion engine or an electric motor.
Overview of the global e-axle market
The emergence of autonomous vehicles and an increase in the number of electric cars is rapidly changing the automotive industry and propelling the E-Axle Market. A chance will be presented by the rising use of electric vehicles in developing economies and the arrival of driverless vehicles. Due to factors like rising oil prices and environmental pollution, electrified personal transportation in the form of hybrid, plug-in hybrid, fuel-cell, and electric cars (EVs) is currently expanding.
Manufacturers have been obliged to concentrate on creating technologically superior products due to the rising need for lightweight, structurally secure, and affordable vehicle components and chassis. An integrated e-axle created by Axle Tech offers better performance in a more compact design. The e-axle works well with medium- and heavy-duty commercial trucks. Due to the advantages of e-axles and their significant potential to reduce fuel consumption and emissions because they are powered by electrical energy, the technology surrounding them is advancing quickly.
These elements fuel this market’s expansion. Additionally, in some nations, the lack of rules will encourage the use of e-axles because there is an increasing need for electrified transportation. As a result, more power and the associated efficiencies will be delivered. The new, cutting-edge e-axle system, intended to change the automobile industry toward electrification, is being developed by participants in partnership. Although cost continues to be a significant growth inhibitor that may limit industry expansion.
The market is primarily being driven by an increase in battery electric vehicle sales along with an expansion of automotive e-axles in the light commercial vehicle segment. The design of electric axles has improved as a result of research and development into electric cars. These are the main elements that propel market expansion. The market is comprehensively evaluated in the study on the global e-axle industry. The research provides a thorough analysis of the market’s key segments, trends, drivers, restraints, competitive environment, and other important elements.
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Automotive E-axle Market- Segmental analysis of the Market
Based on Electric Vehicle Type
• Battery Electric Vehicle
• Hybrid Electric Vehicle
• Plug-in Hybrid Electric Vehicle
The battery electric vehicle segment has dominated the market growth over the forecast period. This is because the highly integrated e-axle is essential for the optimization of the performance of plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) without increasing the cost.
Based on Drive Type
• All-Wheel Drive (AWD)
• Front Wheel Drive (FWD)
• Rear Wheel Drive (RWD)
The all-wheel drive segment has dominated the market growth over the forecast period. This is because of the exponential growth in the automotive market such as, tribbles on Kirk’s Starship Enterprise. These systems guarantee their effectiveness in all-weather as well as dry-road with versatile benefits, and many consumers believe they are a must-have on any new-vehicle checklist.
Based on Vehicle Type
• Commercial Vehicle
• Passenger Vehicle
The passenger vehicle has dominated the market growth over the forecast period. This is because of the steady advancement in the global macroeconomic situation, increased global GDP, and subsequent increase in customer demand have positively contributed to the global automotive sector in general and the passenger car market in particular.
Automotive E-axle Market- Competitive Landscape
Some of the prominent companies operating in the market are Axletech International, ZF Friedrichshafen AG, Continental AG, Dana Incorporated, Borgwarner Inc, GKN plc, Schaeffler Technologies AG & Co. KG, Linamar Corporation, Robert Bosch GmbH, Nidec Corporation, AVL List GmbH, and Magna International Inc.
