The global automotive e-axle market size is projected to reach USD 27.19 billion by 2025, growing at a CAGR of 23.7%, according to a new report by Grand View Research, Inc. Electric vehicle production directly influences the demand for automotive e-axles as it is an integral component of a vehicle. Prominent countries such as South Korea and Germany have set aggressive production targets for electric vehicles, which is expected to drive growth for automotive electric axle market over the forecast period.
The
availability of low-cost labor and raw materials has been a key contributing
factor for the increased production of vehicles in the Asia Pacific. For
instance, in 2018, China was recognized as the largest electric car
manufacturer. Additionally, the growing population and increasing disposable
income have led to increase in automobile sales. The high demand for premium
and luxury electric vehicles, especially in developing economies such as India
and China, is expected to further drive the market growth for automotive
e-axles.
The
electric vehicle market growth is primarily driven by the development of public
EV charging infrastructure. As such, numerous nations have been promoting the
installation of charging infrastructure at public places. The development of
charging facilities is a lucrative business opportunity for both government and
private sector companies, which, in turn, is likely to drive the growth of electric
cars and automotive electric axle drive market. Other factors driving the
market growth include various regulations and policies introduced by
governments to increase the adoption of electric vehicles.
A
keen focus toward research and development in the automotive e-axle technology
has resulted in the reduction of overall assembly weight and imparted an
effective and compact design. The enhanced design has enabled integrators to
accommodate more batteries, which eventually extends the ferry range of
electric vehicles. Prominent players are focusing on developing a series of new
products that are suited for various vehicle platforms. For instance, in
January 2019, BorgWarner launched an integrated automotive e-axle named iDM.
The newly-developed product comes in three different versions and is suited for
both front and rear applications of passenger cars and light commercial
vehicles.
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Automotive E-axle
Market Report Highlights
- The North
American passenger car e-axle market was valued at USD 1,139.0 million in
2018 and is expected to register a CAGR of 15.8% over the forecast period
- The Mexican
passenger car e-axle segment is estimated to be the fastest growing in
North America, registering a CAGR of 27.9% over the forecast period
- By
application, the U.K. passenger car e-axle segment dominated the front
type segment in 2018 and is expected to reach USD 36.9 million by 2025,
growing at CAGR of 66.7% over the forecast period
- The global
market for automotive e-axle is consolidated in nature and is dominated by
established players such as Dana Incorporated, Melrose Industries PLC,
Robert Bosch GmbH, and Schaeffler AG
- Commercial
vehicle e-axle market has gained momentum in terms of sales revenue in
North America and Asia Pacific. In 2018, the market was dominated by the
U.S. and China, which accounted for the majority market shares.
Automotive E-axle
Market Segmentation
Grand View Research has
segmented the global automotive e-axle market based on vehicle type, namely
passenger car segment and commercial vehicle segment. The passenger car e-axle
segment has further been segmented based on application and region, whereas the
commercial vehicle e-axle segment has been sub-segmented based on region:
Passenger Car
E-Axle Application Outlook (Revenue, USD Thousand, 2015 - 2025)
- Front
- Rear
Passenger Car
E-Axle Regional Outlook (Revenue, USD Thousand, 2015 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- RoW
Commercial Vehicle
E-Axle Regional Outlook (Revenue, USD Thousand, 2015 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- RoW
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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