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

North America Automotive e-axle Market Overview:

The automotive e-axle is a compact electric drive solution which combines the transmission, power electronics, and electric motor into a single unit. The single casing allows for simple integration of several components, a single cooling system for all parts, streamlined packaging, and improved efficiency.

 

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 North America, i.e., the US, Canada, and Mexico. For each segment, the market sizing and forecasts have been done based on value (in USD Billion).

 

 

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North America Automotive e-axle Market Dynamics:

Increasing investments in EVs Ecosystems:

 

The automotive industry of North America is rapidly shifting to electric vehicles from fuel-based vehicles. Growing investments and incorporation of innovative technologies by automotive OEMs in EVs and the development of advanced charging systems and batteries are driving this market growth in North America. The adoption of the electric vehicle is creating a rise in demand for the system to combine several other elements such as differential and power inverter that allows simplified integration and neat packaging to accelerate the market growth across North America.

 

The government is also implementing policies and regulations that are giving rise to the partnerships of public and private sectors to support the deployment of the systems, and the growing adoption of automotive e-axles in the light commercial vehicle sector positively affects the e-axle market.

 

Canada is the major consumer of the Automotive e-axle Market:

 

The rise in technological advancements in terms of electric vehicles is anticipated to push the North American automotive e-axle market. Major players are anticipated to increase investments in the R&D of electric driveline technology to increase the productivity of electric vehicles. Also, several governments are adopting the strict guidelines that are set for the vehicle emission standard.

 

The Canadian EV market is the major driver because of the local government's policies and incentives, increased driving range, and affordable vehicle prices due to increased spending power of consumers on environment-friendly automobiles and developing infrastructure that would result in faster charging times. Canada’s mission to eliminate transportation emissions in the coming years has enabled governments to introduce numerous policies and incentive programs that could increase EV adoption and reduce emissions. This, in turn, is expected to drive the global automotive e-axle market.

 

The high cost associated with electric vehicles and the e-axle are retraining the market growth:

 

The high cost involved with an e-axle drive system may prove to be a restraining factor to some extent. Also, the high cost that is associated with electric vehicles is limiting the sales of EVs in the forecast period. Additionally, EV users need to install a Level 2 charging outlet in their home that costs an additional USD 2,500 to save time and extending the battery life as compared to Level 1 charging, which is cheaper and exponentially takes a longer time for charging. Hence, the higher upfront costs for EVs will restrain the market growth.

 

North America Automotive e-axle Market Segment Analysis:

By Vehicle Type, the Automobile e-axle Market is segmented into Passenger cars and commercial vehicles. Commercial vehicles have dominated the largest Market share accounting for 42% in 2023. The high growth of this segment is mainly driven by the growing awareness regarding the role of electric vehicles in reducing emissions, an increase in demand for electric vehicles for reducing fleet emissions, and stringent government rules and regulations towards vehicle emissions.

 

Increasing Electric LCVs are a key element of urban distribution and transport systems and low-emission offering solutions. As they require low maintenance and have relatively lower operating costs, there is no need to lubricate the engines with the maintenance costs associated with gas engines. Electric LCVs contribute to reducing greenhouse gas emissions and reducing the dependence on fuels.

 

 

COVID-19 Impact on North America Automotive e-axle Market:

 

The COVID-19 pandemic has impacted negatively on North American countries, particularly the United States. Because of favorable government policies to encourage innovation, the presence of large industrial bases, and high purchasing power, North America 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 has a direct impact on the region's economic growth.

 

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

 

North America Automotive e-axle Market Scope:

North America Automotive e-axle Market
Market Size in 2023	USD 2.47 Bn.
Market Size in 2030	USD 4.08 Bn.
CAGR (2024-2030)	7.46%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	by Vehicle Type Passenger Car Commercial Vehicle
	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)
Country Scope	United States Canada Mexico

 

North America Automotive e-axle Market Key Players:  

•  Nidec (Kyoto, Kyoto, Japan)

• GKN Driveline (London, United Kingdom)
• Vitesco (Regensburg, Germany)
• Schaeffler (Herzogenaurach, Germany)
• Dana (Maumee, Ohio, United States)