The global E-axle market size reached US$ 3.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.9 Billion by 2028, exhibiting a growth rate (CAGR) of 20.2% during 2023-2028.
An electric axle (e-axle) is an electro-mechanical propulsion system integrated into an axle structure of battery electric vehicles (BEVs) to deliver power for turning the wheels. It is manufactured using lightweight and high-strength metal like aluminum and includes bearings, shafts, pinions, and gearing components. It combines power electronics, electric motors, and transmission into a unified compact system, which reduces complexity and makes it possible to customize power, torque, and installation space according to end users' requirements. Presently, automotive original equipment manufacturers (OEMs) are relying on e-axle solutions to make optimum use of the internal volume of vehicles for extra battery capacity, passenger space, and other features.
E-Axle Market Trends:
- The increasing use of hybrid electric cars (HEVs), commercial vehicles, and trucks on account of rapid urbanization, inflating income levels, and expanding global trade represents one of the key factors impelling the market growth. This can also be attributed to the increasing awareness among individuals about the harmful effects of fossil fuel-based automobiles on human health and global climate. In line with this, governing agencies of numerous countries are banning the sales of fossil fuel passenger cars to reduce vehicle-based carbon dioxide (CO2) emissions. This, in turn, is positively influencing the demand for e-axles across the globe as they assist in improving energy efficiency and noise, vibration, and harshness (NVH) performance. They also support high-performance scalability for a broad spectrum of applications for various types of vehicles. Apart from this, leading manufacturers are developing advanced products that are equipped with high-strength casings and can accommodate both high torque and input speeds. This is projected to drive the market in the coming years.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global E-axle market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component type, vehicle type and drive type.
Breakup by Component Type:
- Combining Motors
- Power Electronics
Breakup by Vehicle Type:
- ICE Vehicles
- Passenger Vehicle
- Commercial Vehicle
- Electric Vehicle
Breakup by Drive Type:
- Forward Wheel Drive
- Rear Wheel Drive
- All Wheel Drive
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- The competitive landscape of the industry has also been examined along with the profiles of the key players being AVL List GmbH, Axletech International (Meritor Inc), Borgwarner Inc, Continental AG, Dana Incorporated, GKN Plc (Melrose Industries), Nidec Corporation, Robert Bosch GmbH, Schaeffler Technologies AG & Co. KG and ZF Friedrichshafen AG (Zeppelin-Stiftung).
Key Questions Answered in This Report:
- 1. What was the size of the global E-axle market in 2022?
- 2. What is the expected growth rate of the global E-axle market during 2023-2028?
- 3. What are the key factors driving the global E-axle market?
- 4. What has been the impact of COVID-19 on the global E-axle market?
- 5. What is the breakup of the global E-axle market based on the component type?
- 6. What is the breakup of the global E-axle market based on the vehicle type?
- 7. What is the breakup of the global E-axle market based on the drive type?
- 8. What are the key regions in the global E-axle market?
- 9. Who are the key players/companies in the global E-axle market?