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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.
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.
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.
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.
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.
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.
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 |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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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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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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