Asia Pacific Automotive e-axle Market: Industry Analysis and Forecast (2024-2030)

Asia Pacific Automotive e-axle Market Definition:

An electro-mechanical propulsion system with axle frames, power electronics, electric motors, and transmission units is known as an E-Axle. For battery-electric cars and hybrid applications, this gadget serves as a compact, cost-effective electric drive option. Furthermore, it is employed in conjunction with a normal internal combustion engine (ICE) or a hybrid powertrain.

 

Further, the Automotive e-axle market is segmented by Electric Vehicle Type, Vehicle Type, Drive Type, and Geography. Based on Vehicle Type, the Automobile e-axle Market is segmented under battery electric vehicles (BEV) and plugin hybrid electric vehicles (PHEV). Based on the Vehicle type, the Automobile e-axle market is segmented under Passenger cars and commercial vehicles. Based on the Drive type, the Automobile e-axle market is segmented under all-wheel drive (AWD), Front-wheel drive (FWD), and Rear-wheel drive (RWD). By geography, the Market covers the major countries in the Asia Pacific, i.e., India, China, Japan, Australia, and the Rest of Asia Pacific. For each segment, the market sizing and forecasts have been done based on value (in USD Billion).

 

 

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Asia Pacific Automotive e-axle Market Dynamics:

Urbanization and modernization are positively affecting the Market's growth:

 

The rise in urbanization and modernization in the countries of the region such as China, India, Indonesia, and others. The rapidly evolving technologies in engineering are revolutionizing the automobile industry. The rising population is also leading to the growth in the sales of automobiles. There is the rapid adoption of electric vehicles, and self-driving cars are still ahead. This increase in the sales of hybrid and electric vehicles across the world, along with an increase in fossil fuel costs, are two major factors driving the e-axle automotive Market.

 

Market volumes of electric vehicle production in Asia-Pacific recorded double-digit growth of 122,243 units in 2021. This led to an increase in the demand for the e-axle as it provides power to hybrid and electric vehicles. Additionally, the increases in CO2 emissions, the advancement of the automobile sector, as well as the depletion of fossil fuel resources have fuelled the expansion of the market through the forecast period.

 

Government’s Incentive Plans that are Rising the Sale of the EVs:

 

The availability of low-cost labor and raw materials. In addition, the increasing population and rising expendable income have resulted in a rise in automobile sales. Also, the consumption of premium and luxury electric cars, particularly in developing economies of India and China, is expected to drive Asia-Pacific's future growth for automotive e-axles. Also, the Government of the Asia Pacific countries, such as India, has increased the incentives for the two-wheelers to Rs 15,000 per kWh from Rs10,000. Also, the cap on incentives to 40% of the vehicle cost from 20%. Also, the soaring fuel prices have compelled many buyers of conventional vehicles to consider an electric vehicle as a better option. Nearly 200,000 vehicles have been supported under the FAME-II scheme. Subsidies for the last three fiscal years total Rs 900 crore for the electric two and three-wheelers.

 

Also, other countries such as China, the Philippines, South Korea, and Japan have incentive plans that are contributing to the growth in the sales of Electric Vehicles. These increases in the sales of the electric vehicle will affect the sales of the Automotive e-axle Market through the forecast period.

 

The high cost associated with the EVs is limiting the growth of the Market:

 

The lack of standardization of charging infrastructure and primitive power grid infrastructure is expected to obstruct market growth. Also, the high initial cost of EVs compared to ICE vehicles and stringent rules for the installation of EV charging stations are projected to challenge the electric vehicle charging stations market in the forecast period. Also, the fear of running out of power before arriving at the charging station (48%) continues to be the most significant barrier to the adoption of an electrified vehicle. This would further decrease the demand for the Automotive e-axle Market. These factors are limiting the growth of the market through the forecast period.

 

Asia Pacific Automotive e-axle Market Segment Analysis:

By Vehicle Type, the Automobile e-axle Market is segmented into Passenger cars and commercial vehicles. The passenger cars segment is expected to grow at the highest growth rate during the forecast period. In 2021 it was estimated that about 32 million passenger cars were sold within the Asia-Pacific region, which was more in comparison to the total sales of the commercial cars. This is because the rapid deployment of charging infrastructure, aggressive electrification of heavy-duty fleets and public transportation, and a decrease in the total cost of ownership of EVs will drive the growth of the Market in this region. This leads to the growth of the segment through the forecast period.

 

 

Recent Development in Asia Pacific Region Automotive e-axle Market:

 

• May 26, 2022 (GLOBE NEWSWIRE) -- The term 'Electric vehicle charging station' refers to a public or private parking space served by battery charging station equipment. The primary purpose of the Electric vehicle charging station is to transfer the electric energy by inductive or conductive means to a battery or any other energy storage device within an electric vehicle. The Electric Vehicle Charging Stations market was worth USD 9.47 billion in 2021 and is likely to reach a landmark of nearly $142.46 billion in 2030 with a robust CAGR of 31.14 %.

 

COVID-19 Impact on Asia Pacific Automotive e-axle Market:

According to the World Health Organization (WHO), India, China, Russia, and South Korea, are among the countries most affected by the COVID-19 outbreak. The outbreak is hurting companies all across the globe. In addition, the world economy had a slowdown in 2020, which has continued into the first quarter of 2021. Globally, the epidemic has disrupted Automotive e-axle businesses and supplies. Market participants have encountered operational difficulties, which are expected to last until the middle of 2021. The global energy & power industry is one of the primary industries experiencing significant disruptions as a result of the COVID-19 pandemic, which is stifling the Asia Pacific Automotive e-axle Market's growth. To combat and limit the pandemic, the Automotive e-axle industry has been significantly impacted by government shutdowns, travel prohibitions, trade bans, and border lockdowns.

 

The objective of the report is to present a comprehensive analysis of the Asia Pacific Automotive e-axle Market to the stakeholders in the industry. The report provides trends that are most dominant in the Asia Pacific Automotive e-axle Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Asia Pacific Automotive e-axle Market dynamics and competitive structure of the Market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Asia Pacific Automotive e-axle Market report is to help understand which market segments and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Asia Pacific Automotive e-axle Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Asia Pacific Automotive e-axle Market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the Market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Asia Pacific Automotive e-axle Market. The report also analyses if the Asia Pacific Automotive e-axle Market is easy for a new player to gain a foothold in the Market, do they enter or exit the Market regularly, if the Market is dominated by a few players, etc.

 

 The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Asia Pacific Automotive e-axle Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Asia Pacific Automotive e-axle Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Asia Pacific Automotive e-axle Market is aided by legal factors.

 

Asia Pacific Automotive e-axle Market Scope:

Asia Pacific Automotive e-axle Market Scope
Market Size in 2023	USD 2.01 Bn.
Market Size in 2030	USD 2.94 Bn.
CAGR (2024-2030)	5.56%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Drive Front-Wheel  Drive Rear Wheel Drive All-wheel Drive
	By Electric vehicle Type Battery Plugin Hybrid Electric Vehicle (PHEV) (BEV) Plugin Hybrid Electric Vehicle (PHEV)
	By Vehicle Type Passenger Car Commercial Vehicle
	By Geography Japan China India Vietnam South Korea

 

 

Asia Pacific Automotive e-axle Market Key Players:  

• Nidec Corporation
• Takshi Auto Components Pvt. Ltd.
• Axles India Ltd
• Allison Transmission
• NEOKOREA