An automotive e-axle also called as an electric-powered axle mainly serves as a strong supply for battery electric powered motors and hybrid electric powered motors.
E-Axle is defined as an electro-mechanical propulsion system that contains axle structures, electric motor, power electronics, and transmission units. This device provides presise, compact, cost-attractive electric drive solution for battery-electric vehicles and hybrid applications.
It is also used in conjunction with a conventional ICE or hybrid powertrain. Also, E-Axle combines other several elements such as power inverter, and differential that allows neat packaging and simplified integration.
Automotive E-axle Market: Overview
The Automotive E-axle Market is valued at USD 9.7 billion in 2022 and is projected to reach a value of USD 113.1 billion in 2030 expanding at a CAGR of 31.9% over the forecast period of 2022-2030.
The design and configuration of e-axles differ significantly from that of conventional axles. But, the e-axles can improve overall drivetrain efficiency by minimizing gear losses, mainly when inefficient hypoid gears are removed.
Additionally, the e-axle can provide more packaging space within the chassis for other important battery or electric hybrid components such as, battery packs. An e-axle can be implemented on the vehicle’s front or rear axle and if it is installed on the back axle of a hybrid vehicle, its front wheel is motorized by an internal combustion engine or the other way round.
Also, it manages to combine electric motors, power electronics, and transmission into a truly united compact system that reduces complexity and allows end-users to customize capacity, engine power, and installation space based on their needs.
One of the major factor that has fuelled the market growth over the forecast period is the rise in sale of electric hybrid vehicles across the globe and increase in fuel costs. Moreover, rise in pollution, development of the automobile industry, and decrease in fossil fuel reserves have also boosted the growth of the global market over the forecast period.
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The increase in the use of hybrid electric vehicles, heavy-duty trucks, and passenger or commercial vehicles because of the economic growth, increasing disposable income, and expanding market international trade has boosted the market growth.
One of the major restrain to the market growth over the forecast period is the high cost of an electric aisle propulsion system.
While, an increase in RD activities for improvement in electric and hybrid vehicle, and upsurge in deployment of E-Axle in ICE vehicles have offered lucrative opportunities for the E-Axle market expansion. Rise in the sale of electric vehicles globally has also offered potential growth opportunities for the market.
Automotive E-axle Market- Segmental analysis of the Market
Based on Electric Vehicle Type
- Battery Electric Vehicle
- Hybrid Electric Vehicle
- Plug-in Hybrid Electric Vehicle
The battery electric vehicle segment has dominated the market growth over the forecast period. This is because the highly integrated e-axle is essential for the optimization of the performance of plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) without increasing the cost.
Based on Drive Type
- All-Wheel Drive (AWD)
- Front Wheel Drive (FWD)
- Rear Wheel Drive (RWD)
The all-wheel drive segment has dominated the market growth over the forecast period. This is because of the exponential growth in the automotive market such as, tribbles on Kirk’s Starship Enterprise. These systems guarantee their effectiveness in all-weather as well as dry-road with versatile benefits, and many consumers believe they are a must-have on any new-vehicle checklist.
Based on Vehicle Type
- Commercial Vehicle
- Passenger Vehicle
The passenger vehicle has dominated the market growth over the forecast period. This is because of the steady advancement in the global macroeconomic situation, increased global GDP, and subsequent increase in customer demand have positively contributed to the global automotive sector in general and the passenger car market in particular.
Automotive E-axle Market: Geographical analysis of the Market
The Automotive E-axle Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, North America is projected to dominate the market growth over the forecast period. This is because of the factors such as technological advancement, favourable government initiatives and investments, and the rapid rate of economic growth, among others. Moreover, the shifting preference of the US population for compact electric cars over high-torque vehicles and large SUVs is expected to boost the growth of automotive e-axle in the region.
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Automotive E-axle Market- Competitive Landscape
Some of the prominent companies operating in the market are Axletech International, ZF Friedrichshafen AG, Continental AG, Dana Incorporated, Borgwarner Inc, GKN plc, Schaeffler Technologies AG Co. KG, Linamar Corporation, Robert Bosch GmbH, Nidec Corporation, AVL List GmbH, and Magna International Inc.
Key Questions Answered In The Report:
- What is the growth rate projection of Automotive E-axle Market?
- What are the major growth determinants of Automotive E-axle Market?
- What are the major segments constituting the Automotive E-axle Market?
- Which is the fastest growing region in Automotive E-axle Market?
- Which are the top companies operating in Automotive E-axle Market?
Key Takeaways From The Report:
- The Automotive E-axle Market is slated to amplify at a CAGR of 31.9% over the forecast period of 2022-2030.
- The rise in sale of electric hybrid vehicles across the globe and increase in fuel costs has boosted the market growth.
- The major segments include-ELECTRIC VEHICLE TYPE, DRIVE TYPE, VEHICLE TYPE, and REGION.
- North America is anticipated to amplify at a considerable CAGR over the forecast period.
- The top companies include- Axletech International, ZF Friedrichshafen AG, Continental AG, Dana Incorporated, Borgwarner Inc, GKN plc, Schaeffler Technologies AG Co. KG, Linamar Corporation, Robert Bosch GmbH, Nidec Corporation, AVL List GmbH, and Magna International Inc.
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