Dublin, Aug. 29, 2019 (GLOBE NEWSWIRE) -- The "E-Axle Market by Drive Type, Component, and Vehicle Type, and Electric Vehicles): Global Opportunity Analysis and Industry Forecast, 2018-2025" report has been added to ResearchAndMarkets.com's offering.
- This study presents the analytical depiction of the E-axle market along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
- The report presents information related to key drivers, restraints, and opportunities with detailed impact analysis.
- The current market is quantitatively analyzed from 2018 to 2025 to highlight the financial competency of the market.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers.
The E-Axle market was valued at $2,009.71 million in 2017, and is projected to reach $21,639.01 million by 2025, registering a CAGR of 34.6% from 2018 to 2025. The transmission component type segment was the highest contributor to the market in 2017, accounting for $1,645.4 million, and is estimated to reach $ 15,868.5 million by 2025, registering a CAGR of 32.7% during the forecast period.
At present, Asia-Pacific dominates the market, followed by Europe, North America, and LAMEA. China dominated the global E-axle market in 2017, whereas rest of Asia-Pacific is expected to grow at a significant rate during the forecast period.
The automotive environment is changing at a rapid pace due to globalization. Increase in automotive sales due to improvement in manufacturing facilities in most of the emerging countries such as China, India, and Brazil is a key factor driving the demand for E-Axle.
Improvement in productivity of E-Axles in the automotive sector is anticipated to influence prominent players to invest and expand the business through different segments such as electric and internal combustion engine. In addition, increase in disposable income of consumers and surge in passenger vehicles sale across the globe fuel the demand for automotive vehicles, which in turn is expected to boost the growth of the E-axle market.
Developing countries such as India, China, and Brazil are the most promising countries for the automotive sector, owing to increase in sales of electric vehicles. Furthermore, increase in awareness about the latest technology used in automotive and increase in deployment of e-axle in automobiles from the giant companies are fueling the growth of the E-Axle market.
In recent years, consumers have shifted their interest toward technologically advanced, electrically driven vehicles that have number of applications. This in turn increases the overall use of E-Axle components in vehicles, thereby boosting to the E-Axle market industry. The E-Axle market share largely is directly related to the advancement and expansion in the electrically driven vehicles.
Increase in fuel costs is the key factor that significantly contributes toward the growth of the E-Axle industry. In addition, rise in pollution, development of the automobile industry, and decrease in fossil fuel reserves have fueled the production of E-Axle market. In addition, technological steps taken by firms to reduce cost, and increase in consumer preference toward electric vehicles in developing nations boost the demand for E-axle in the global market.
High cost of electric axle drive system is the only major restraining factors of this market. Furthermore, implementation of stringent emission regulations to reduce vehicle weight & emission, increase in R&D activities for improvements in electric & hybrid vehicles, and surge in use of E-axle in ICE vehicles ensure emerging growth opportunities for this market globally. Moreover, a program launched by the California Air Resources Board (CARB) includes guidelines for manufacturers to produce and deliver zero-emission vehicles (ZEVs), substantially creating a lucrative opportunity for the adoption of E-Axle market share.
The market analysis totally depends on the drive type, component, and material used for the construction of E-Axle. The E-Axle market trends are decided on the basis of forecast from 2018 to 2025. Moreover, automobile companies focus on the innovations of e-axle system. Furthermore, most of the electric vehicles in China are equipped with E-axle to reduce spacing and improve efficiency. For instance, according to the World Economic Forum, in July 2017, the Government of the UK announced the decision of discontinuing production of new petrol and diesel cars from 2040. This factor will not only boost the growth of electric car market but also boost the demand for electric automobile products used for manufacturing these cars, including E-Axle.
Rising environmental awareness in various European countries such as Norway, Sweden, Austria, etc. is leading to increasing sale of electric and hybrid vehicle in these countries. On the contrary, consumers changing preference for mode of transportation has also increased the use of passenger cars in this region. Rising number of demands for cars and relatively increasing demand for durable vehicle from consumers is leading to increasing use of high end and advance automobile parts by manufacturers. These factors are impacting E-Axle growth and other automobile relate markets positively.
In addition, government of Brazil introduced inoVar-auto incentive program. This program has led to rise in number of quality vehicles into brazil automobile market. This incentive program promotes manufacturing of vehicles with lower fuel consumption and increased fuel efficiency. On the other hand, rising number of transportation vehicles and passenger vehicles owing to high number of existing tourist locations has created substantial number of potential customers for future automobile market. Hence, developing automobile market scenarios and increasing government programs are creating growth opportunities for electric axle market in Brazil. The E-Axle market forecasted from year 2018-2025 by considering all the driving factors that influence equally to the E-Axle market analysis.
However, in developing countries, OEMs are providing CO2 emission free vehicles and other safety features as per the European NCAP that is supporting the government to improve safety measures. Such initiatives from various governments create awareness about the safety features that directly boost the E axle market growth.
Furthermore, according to engineering export promotion council of India, Shanghai, Jiangsu, and Zhejiang are some of the major cities in China where International automobile manufacturers produce large number of automobiles. This factor has boosted the demand for automobile-related parts, including E-Axle. In addition, the increase in anti-pollution initiatives by the Chinese Government is boosting the production of hybrid & electronic cars, which in turn is escalating the demand for e-axle and other automobile-related products.
The key players analyzed in this report include Robert Bosch GmbH, Nidec Corporation, ZF Friedrichshafen AG, GKN Plc, Schaeffler Technologies AG & Co. KG, Continental AG, Borgwarner Inc., AVL List GmbH, Axletech International, and Dana Limited.
Key Findings
- In 2017, based on drive type, the forward wheel drive segment generated the highest revenue.
- In 2017, by vehicle type, the passenger type was the highest revenue contributor.
- In 2017, region wise, Asia-Pacific contributed the highest revenue, followed by Europe, North America, and LAMEA.
Company Profiles
- Axletech International
- Borgwarner Inc.
- Continental AG
- Dana Incorporated
- GKN PLC
- Schaeffler Technologies AG & Co. KG
- Robert Bosch GmbH
- Nidec Corporation
- ZF Friedrichshafen AG
- AVL List GmbH
For more information about this report visit https://www.researchandmarkets.com/r/7hs07n
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