Automotive e-axle Market - Global Industry Analysis and Forecast (2024-2030)9Trends, Statistics, Dynamics, Segmentation by Electric vehicle Type, Drive, Vehicle Type, and Region

Automotive e-axle Market Definition:

The automobile e-axle is an electromagnetic propulsion system that is equipped with axle structures electric motor Commercial Vehicle and transmission and units; it acts as a compact cost attractive electric drive solution for battery Plugin Hybrid Electric Vehicle (PHEV) and hybrid applications.

 

The Automobile 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 following regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).

 

 

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Automotive e-axle Market Dynamics:

The rise in the sales of electric as well as hybrid vehicles across the globe is creating an upcoming demand for the Automotive e-axle market. There is a rise in the preference of customers toward the new energy vehicles like battery electric vehicles (BEVs) and Hybrid electric vehicles (HEVs) that is because of the increase in awareness associated with the advantages of electric vehicles that are likely to drive the automotive e-axle markets growth. There is a significant rise in the Trends toward electric vehicles among the consumers across the world that is feeling the growth of the market.

 

There are over 500 different electric vehicle models that are expected to be available globally by 2022. According to the International Energy Agency (IEA) Global annual EV Outlook report that was published in April 2021. The electric SUV has witnessed a rapid Adoption in the region of China and Europe that are accounting for the largest market share. Also, according to the IEA, 18 out of 20 largest OEMs which have around 90% of the total new car registration globally in 2021, have announced a plan that would boost the availability and also the production of light-duty electric vehicles. Additionally, Volvo has planned to sell only electric cars globally by 2030. Also, Ford has significant strategies to cell electric cars only in Europe by 2030. These factors are driving the growth of the automobile e - axle market through the forecast period.

 

High costs associated with electric vehicles are restraining the growth of the market. According to Kelley blue book, which is the subsidiary of Cox automotive said, the average transaction price that is required for an electric vehicle is around USD 55,000, which is equal to an entry-level luxury car in terms of price. The electric vehicle user would also be required to install a level 2 charging outlet at their home, which would cost an additional USD 2,500. These are the factors that are restraining the growth of the automobile e-axle market through the forecast.

 

The government has also promoted EVs through certain programs, subsidies, tax refund schemes, and rising charging infrastructure. The electric vehicles have certain advantages over the conventional vehicles, such as lower maintenance and running cost, which favor the market growth. The Global rise in the sales of electric vehicles and hybrid vehicles is driving the growth of the e-axle market through the forecast period. Additionally, electric vehicles are one of the most environmentally friendly visible technology that helps reduce air pollution. Hence the government across countries has proposed a tax break program that would encourage to increase in the sales of electric vehicles and their development during the focus period.

 

Automotive e-axle Market Segment Analysis:

By Vehicle Type, the Automobile e-axle Market is segmented into Passenger cars and commercial vehicles. Passenger cars have dominated the largest Market share accounting for 42% in 2023. The segment growth is attributed to increasing incentives and subsidies that are provided by the government. Also, the reduced emission from electric vehicles is one of the major factors that are growing the sales of passenger cars. These are the factors that are leading to the growth of this segment throughout the forecast period.

 

 

By Drive Type, the Automobile e-axle Market a segmented into All wheel drive (AWD), Front-wheel-drive (FWD), and Rear-wheel drive (RWD). The front-wheel-drive (FWD) has dominated the largest Market share accounting for 41% in 2023. This is because of the special features that are associated with the front-wheel-drive such as lower weight, superior traction, and considerably lower cost and complexity in terms of design and the setup. These are the factors that are leading to the growth of this segment throughout the forecast period.

 

 

By Electric Vehicle Type, the Automobile e-axle Market is segmented into battery electric vehicles (BEV) and plugin hybrid electric vehicles (PHEV). Battery electric vehicle segment has dominated the largest Market share accounting for 40%, in 2023, and is expected to grow at a CAGR of 13.96% during the forecast period. This is because of the special characteristics that are provided, such as higher efficiency required, lower total ownership cost over the long term, and lesser maintenance required over the plugin Hybrid electric vehicle (PHEV). These factors are leading to the growth of this segment throughout the focus period.

 

Automotive e-axle Market Regional Insights:

The European region held the largest market share accounting for 46.1% in 2023. This is because of the increasing stringency of the zero-carbon emission target and the implementation of decarbonization strategies like the European Union sustainable and smart mobility strategy and action plan and the European Union green deal will fuel the market growth in this region. These are the factors that are increasing the demand for the Automobile e-axle Market through the forecast period.

 

The North American region is expected to witness significant growth at a CAGR of 23.8% in 2023 through the forecast period. This is due to the rapid deployment of the charging infrastructure that is required for the electric vehicle. There is aggressive electrification of heavy-duty fleets and Public Transportation system with a decrease in the total cost of the ownership of electric vehicles that are expected to drive the market growth in the forecast period.

 

Automotive e-axle Market Key Players Insights:

The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide Electric vehicle Type portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the global market, key players in the market, particularly in North America and Europe, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Global Automotive e-axle market to the stakeholders in the industry. The report provides trends that are most dominant in the Global 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 Global 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 Global 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 Global 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 Global 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 Electric vehicle Typequality is in the Global Automotive e-axle market. The report also analyses if the Global 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 Global Automotive e-axle market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Global Automotive e-axle market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Global Automotive e-axle market is aided by legal factors.

 

Automotive e-axle Market Scope:

 

Automotive e-axle Market
Market Size in 2023	USD 21.63 Bn
Market Size in 2030	USD 143.98 Bn.
CAGR (2024-2030)	31.1%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By  Electric vehicle Type Battery Plugin Hybrid Electric Vehicle (PHEV) (BEV) Plugin Hybrid Electric Vehicle (PHEV)
	By drive Front-Wheel  Drive Rear Wheel Drive All-wheel Drive
	by Vehicle type Passenger cars Commercial Cars
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Automotive e-axle Market Key Players: 

 

• Dena Limited (Ohio, U.S.)
• Robert Bosch GmbH (Gerlingen, Germany)
• GKN Automotive Limited (London, U.K.)
• Nidec Corporation (Kyoto, Japan)
• ZF Friedrichafen AG (Friedrichafen, Germany)
• Continental AG (Hanover, Germany)
• Schaeffler AG (Herzogenaurach, Germany)
• AxleTech (Michigan. U.S)

 

Regional Breakdown:

North America Automotive e-axle Market: Industry Analysis and Forecast (2024-2030)

 

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

 

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