Richmond, Nov. 30, 2023 (GLOBE NEWSWIRE) -- According to a research report "Electric Vehicle E-Axle Market, by Vehicle Type (Passenger Car, Commercial Vehicle), Drive Type (All-Wheel Drive, Front-Wheel Drive, Rear-Wheel Drive) Component (Motor, Transmission, Power Electronics, Others), and Region.
Global Electric Vehicle E-Axle Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 41.1 Billion |
| Market size value in 2030 | USD 124.2 Billion |
| CAGR (2023-2030) | 17.1% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Offering, Component, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Electric Vehicle E-Axle Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
An electric vehicle e-axle functions as an integrated drivetrain component, consolidating an electric motor, transmission, and differential into a unified unit. Its primary role is to propel the wheels of an electric vehicle by converting stored electrical energy from the battery pack into mechanical power. This design offers enhanced efficiency and a more compact form compared to traditional drivetrain systems, eliminating the requirement for a separate internal combustion engine, transmission, and differential. The electric vehicle (EV) e-axle market is experiencing significant growth as the automotive industry undergoes a transformative shift towards electrification. An electric vehicle e-axle serves as a pivotal drivetrain component, seamlessly integrating an electric motor, transmission, and differential into a singular unit. This consolidation results in a more efficient and compact system compared to conventional drivetrain setups, as it eliminates the need for a separate internal combustion engine.
Major Vendors in the Global Electric Vehicle E-Axle Market:
- Dana Limited
- Robert Bosch GmbH
- GKN Automotive Limited
- Nidec Corporation
- ZF Friedrichshafen AG
- Schaeffler AG
- Linamar Corporation
- Magna International Inc.
- Suzhou Inovance Automotive Co., Ltd.
- Vitesco Technologies Group AG
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Increasing Adoption Of Electric Vehicles
The Electric Vehicle E-Axle market is experiencing a notable surge, with the increasing adoption of electric vehicles serving as a prominent driver for its growth. As the automotive industry undergoes a transformative shift towards electrification, electric vehicles are gaining traction globally. The pivotal role played by e-axles in powering these electric vehicles, by seamlessly integrating an electric motor, transmission, and differential into a singular unit, positions them as a key component in the evolving automotive landscape. The heightened emphasis on sustainability, coupled with advancements in electric vehicle technology, further propels the demand for efficient and compact e-axle systems. This trend aligns with the broader commitment to reducing carbon emissions and meeting stringent environmental regulations. As electric vehicles become a mainstream choice for consumers and manufacturers alike, the Electric Vehicle E-Axle market is poised to capitalize on this momentum and play a crucial role in shaping the future of automotive propulsion systems.
Market Dynamics
Drivers:
- The expansion of electric vehicle (EV) infrastructure and the provision of government subsidies and schemes are poised to bolster market growth.
- Increasing Adoption Of Electric Vehicles
- Growing environmental concerns
Opportunities:
- Increasing investments in EV e-axle systems
- Growing environmental concerns
Growing environmental concerns
The Electric Vehicle E-Axle market is presented with a significant opportunity amid growing environmental concerns. As the world grapples with escalating climate change challenges and heightened awareness of environmental sustainability, there is a heightened emphasis on reducing carbon footprints across industries, including transportation. Electric vehicles (EVs) equipped with e-axles emerge as a compelling solution, offering a cleaner and more energy-efficient alternative to traditional internal combustion engine vehicles. The integrated design of e-axle systems contributes to overall efficiency, aligning with the global push towards eco-friendly mobility solutions. Governments and regulatory bodies are increasingly incentivizing the adoption of electric vehicles, further creating a conducive environment for the Electric Vehicle E-Axle market to thrive. This alignment with broader environmental goals positions e-axles as a key enabler in the transition towards greener transportation, presenting a strategic opportunity for market growth. As consumers and industries prioritize environmentally friendly solutions, the Electric Vehicle E-Axle market is well-positioned to capitalize on the evolving landscape of sustainable mobility.
The market for Electric Vehicle E-Axle is dominated by Asia Pacific.
The Asia Pacific region stands out as the dominating force in the Electric Vehicle E-Axle market. The surge in electric vehicle adoption, coupled with a robust manufacturing ecosystem, has positioned Asia Pacific as a key hub for the production and consumption of e-axle systems. Countries like China, Japan, and South Korea have emerged as major contributors to the growth of the electric vehicle market, fostering a conducive environment for the flourishing E-Axle market. Government initiatives and policies promoting electric mobility, along with substantial investments in research and development, have propelled the region to the forefront of the global electric vehicle landscape. Additionally, the presence of established automotive manufacturers and a growing focus on sustainable transportation solutions further solidify Asia Pacific's dominance in the Electric Vehicle E-Axle market. As the region continues to lead in electric vehicle adoption and innovation, it is expected to play a pivotal role in shaping the trajectory of the E-Axle market on a global scale.
The Services Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
Based on Vehicle Type the Electric Vehicle E-Axle Market is segmented into Passenger Car and Commercial Vehicle. Passenger car segment emerging as a dominant segment. The passenger car segment has not only captured a significant share of the market but is also recognized as the fastest-growing segment, exhibiting a considerable Compound Annual Growth Rate (CAGR) throughout the forecast period. This impressive growth can be attributed to the rising adoption of passenger cars, particularly driven by a surge in private vehicle usage over public transportation in response to the COVID-19 outbreak. As individuals increasingly prioritize personal mobility, the passenger car segment continues to play a pivotal role in shaping the trajectory of the Electric Vehicle E-Axle Market."
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