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

Europe Automotive e-axle Market Overview:

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 Europe, i.e., Italy, Germany, United Kingdom, Russia, France, and the Rest of Europe. For each segment, the market sizing and forecasts have been done based on value (in USD Billion).

 

 

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Europe Automotive e-axle Market Dynamics:

The European electric axle market is anticipated to witness improved growth over the forecast period amid changing regulations to motivate ZEVs. The countries of the European region are estimated to witness significant changes in the dynamics of passenger vehicle production. The shifting preference of the population from high horsepower vehicles and large SUVs to compact electric cars is expected to further drive market growth for automotive e-axle in the region.

 

European countries have very well adopted electric vehicles. According to the Guardian, in 2020, car manufacturers sold more than 500,000 electric cars in Europe. The sales of electric vehicles have risen progressively since 2010, with a yearly growth of around 50% over the past 5 years. As per the statistics published in the European Electric Vehicle Factbook during 2019 and 2020, electric vehicles represented 3.6% of new passenger car registrations. This increase in the adoption of electric vehicles is giving rise to the sales of the Automotive e-axle Market during the forecast period.

 

Because of the European region's technological achievements, the vast majority of new cars in Europe were powered by gasoline or diesel engines. In 2019, hybrid electric vehicles (HEVS) accounted for roughly 4% of all new automobile sales in the EU. HEVS sales grew, particularly in Finland, where the market share increased to 11% in 2019. Toyota continues to lead the HEVS market in Europe, with hybrid electric vehicles accounting for roughly 60% of all new Toyota vehicles sold in 2019. PHEVS and battery-electric vehicles (BEVS) accounted for roughly 3% of new vehicle registrations in the European region in 2019. Top European markets included Sweden, where PHEVS accounted for 7% of new sales, and the Netherlands, where BEVs accounted for 14% of new sales. Outside of the EU, electric vehicle sales are particularly strong in Norway, where around 14 percent of new cars sold in 2019 were PHEVs, 42 percent were BEVs, and another 12 percent were HEVs.

 

In terms of manufacturer names, Volvo (8%) and BMW (5%), respectively, were among the top PHEV sellers in 2019. Nissan led the way in BEVS sales, accounting for 7% of the company's total sales. Entering the year 2020, the market dynamic changed notably, with electric vehicles jumping to a market share of 11% by August 2020. These technological advancements in the electric vehicles industry have increased the demand for the e-axle market through the forecast period.

 

Europe 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 more than 60% in 2023, and are expected to grow at a cage of 1.6% during the forecast period. There were around 246.3 million passenger cars on the road in total. The highest growth was seen in some of the countries in the European region, such as Romania (+5.4%) and Slovakia (+5.1%), while the French car fleet shrank slightly (-0.3%).

 

Nearly 29 million vans are in circulation throughout the European Union, half of which can be found in three countries: France (5.9 million vans), Italy (4.3 million), and Spain (3.9 million).There are more than 6.2 million medium and heavy commercial vehicles on European countries’ roads, up 1.7% compared to 2019. With around 1.2 million trucks, Poland has the largest fleet by far.

 

A total of 684,285 buses are in operation across the European Union, almost half of which can be found in three countries alone: Poland (124,526), Italy (99,883), and France (93,506). This rise in the commercial vehicles has raised the Commercial vehicle segment in the Automotive e-axle market through the forecast period.

 

 

COVID-19 Impact on Europe Automotive e-axle Market:

 

The COVID-19 pandemic has impacted negatively on European countries, particularly the United States. Because of favorable government policies to encourage innovation, the presence of large industrial bases, and high purchasing power, Europe is a leader in the creation and adoption of new technology, particularly in industrialized countries like the United States and Canada. As a result, any impact on the expansion of industries directly impacts the region's economic growth.

 

The objective of the report is to present a comprehensive analysis of the Europe Automotive e-axle Market to the stakeholders in the industry. The report provides the most dominant in the Europe 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 Europe 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 Europe 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 Europe 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 Europe 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 identify how many rivals exist, who they are, and how their product quality is in the Europe Automotive e-axle Market. The report also t trends analyses if the Europe 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 Europe Automotive e-axle Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Europe Automotive e-axle Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Europe Automotive e-axle Market is aided by legal factors.

 

Europe Automotive e-axle Market Scope:

Europe Automotive e-axle Market
Market Size in 2023	USD 6.61 Bn.
Market Size in 2030	USD 16.90 Bn.
CAGR (2024-2030)	14.33%
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 Car Commercial Vehicle
Country Scope	UK  France Germany Italy  Spain  Sweden Austria and Rest of Europe

 

Europe Automotive e-axle Market Key Players:  

• Marelli Electric Powertrain Strasbourg (Rue de La Rochelle, France)
• Allison transmission (Indianapolis, Indiana, United States)
• Dana Incorporated (Maumee, Ohio, United States)
• Bosch Mobility Solutions (Gerlingen, German)