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Global Electric Vehicle E-Axle Market Size, Share, Growth: By Drive Type: All Wheel Drive, Front-Wheel Drive, Rear-Wheel Drive; By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Electric Vehicle E-Axle Market Outlook
The global electric vehicle e-axle market size reached approximately USD 18.6 billion in 2023. The market is estimated to grow at a CAGR of 17.5% in the forecast period of 2024-2032, reaching a value of around USD 80.86 billion by 2032.
Key Trends in the Market
An e-axle or electric axle is a propulsion system which consists of a gearbox, inverter, and motor. It is integrated either on the front or rear axle of electric and hybrid vehicles to provide an efficient driving solution.
- Increased installation of e-axles in battery-powered commercial vehicles such as trucks, buses, and vans to provide the necessary torque and power for driving is one of the prominent electric vehicle e-axle market trends.
- The rising popularity of autonomous vehicles, which rely on advanced e-axles for safe and efficient driving experience, is another crucial factor aiding the market expansion.
- Market players are increasingly investing in a two-in-one e-axle which consists of a gearbox and motor alongside power electronics, to enhance the performance and efficiency of EVs.
- Favourable government incentives and schemes such as FAME or Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles scheme by the Indian government, which promote zero-emission and offers discounts and subsidies for the purchase of EVs, also aid the electric vehicle e-axle market growth.
Market Analysis
Based on drive type, the market is divided into all wheel drive, front-wheel drive, and rear-wheel drive. The electric vehicle e-axle market segmentation, on the basis of vehicle type, includes passenger cars, light commercial vehicles, and heavy commercial vehicles. The major regional markets for electric vehicle e-axle are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the electric vehicle e-axle market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Robert Bosch GmbH
- Magna International Inc.
- Nidec Corporation
- GKN Automotive Limited
- Allison Transmission Inc.
- Schaeffler AG
- ZF Friedrichshafen AG
- Dana Limited
- Linamar Corporation
- Vitesco Technologies Group AG
- Meritor, Inc.
- Others
Market Share by Vehicle Type
Passenger cars occupy a sizeable portion of the electric vehicle e-axle market share, due to the growing shift towards electrification of passenger vehicles. This shift is driving the demand for the rear e-axle that offers the necessary propulsion required for driving EVs. Factors such as a rise in disposable income, coupled with technological advancements in e-axle, also provide lucrative growth opportunities for the segment.
Furthermore, a joint venture between OEMs and market players for developing integrated e-axle systems provides a positive market outlook.
Market Share by Region
As per the electric vehicle e-axle market analysis, the Asia Pacific accounts for a substantial share of the global market, owing to the increased production of electric vehicles and their related parts in the region. Developmental efforts by market players to install e-axles into passenger cars to enhance the driving experience also fuel the e-axle sales in the APAC market.
Meanwhile, North America is anticipated to witness significant growth in the forecast period, due to the growing popularity of compact EVs in the region.
Competitive Landscape
Magna International Inc. is an automotive parts company, founded in 1957, with its headquarters in Ontario, Canada. The company offers evolutionary products such as ADAS and automated driving, control modules, powertrains, and mechatronics, among others.
Nidec Corporation, established in 1973, is an electric motor manufacturer, based in Kyoto, Japan. The company offers its services in automotive components, home appliances, housing equipment, and industrial machinery sectors, among others.
GKN Automotive Limited is one of the pioneers in electric drive systems, headquartered in London, the United Kingdom. Its sustainability strategy includes decarbonisation initiatives and responsible sourcing of raw materials utilised in its products.
Other electric vehicle e-axle market players include Robert Bosch GmbH, Allison Transmission Inc., Schaeffler AG, ZF Friedrichshafen AG, Dana Limited, Linamar Corporation, Vitesco Technologies Group AG, and Meritor, Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Drive Type |
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| Breakup by Vehicle Type |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Electric Vehicle E-Axle Market Analysis
8.1 Key Industry Highlights
8.2 Global Electric Vehicle E-Axle Historical Market (2018-2023)
8.3 Global Electric Vehicle E-Axle Market Forecast (2024-2032)
8.4 Global Electric Vehicle E-Axle Market by Drive Type
8.4.1 All Wheel Drive
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Front-Wheel Drive
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Rear-Wheel Drive
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Electric Vehicle E-Axle Market by Vehicle Type
8.5.1 Passenger Cars
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Light Commercial Vehicles
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Heavy Commercial Vehicles
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Electric Vehicle E-Axle Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Electric Vehicle E-Axle Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Electric Vehicle E-Axle Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Electric Vehicle E-Axle Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Electric Vehicle E-Axle Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Electric Vehicle E-Axle Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Robert Bosch GmbH
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Magna International Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Nidec Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 GKN Automotive Limited
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Allison Transmission Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Schaeffler AG
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 ZF Friedrichshafen AG
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Dana Limited
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Linamar Corporation
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Vitesco Technologies Group AG
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Meritor, Inc.
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Electric Vehicle E-Axle Market: Key Industry Highlights, 2018 and 2032
2. Global Electric Vehicle E-Axle Historical Market: Breakup by Drive Type (USD Billion), 2018-2023
3. Global Electric Vehicle E-Axle Market Forecast: Breakup by Drive Type (USD Billion), 2024-2032
4. Global Electric Vehicle E-Axle Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
5. Global Electric Vehicle E-Axle Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
6. Global Electric Vehicle E-Axle Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Electric Vehicle E-Axle Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Electric Vehicle E-Axle Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Electric Vehicle E-Axle Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Electric Vehicle E-Axle Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Electric Vehicle E-Axle Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Electric Vehicle E-Axle Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Electric Vehicle E-Axle Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Electric Vehicle E-Axle Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Electric Vehicle E-Axle Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Electric Vehicle E-Axle Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Electric Vehicle E-Axle Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Electric Vehicle E-Axle Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 18.6 billion.
The market is projected to grow at a CAGR of 17.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 80.86 billion by 2032.
The major market drivers are the rapid growth of electric vehicles, stringent government regulations regarding vehicle emissions, and growing demand for advanced e-axle technologies.
The key trends of the market include increased installation of e-axles in battery-powered commercial vehicles, the rising popularity of autonomous vehicles which rely on advanced e-axles, and growing investment in two-in-one e-axles.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Various drive types are all wheel drive, front-wheel drive, and rear-wheel drive.
The key players in the market are Robert Bosch GmbH, Magna International Inc., Nidec Corporation, GKN Automotive Limited, Allison Transmission Inc., Schaeffler AG, ZF Friedrichshafen AG, Dana Limited, Linamar Corporation, Vitesco Technologies Group AG, and Meritor, Inc., among others.
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