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E-Axle Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, UK, France, Japan - Size and Forecast 2024-2028

E-Axle Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, UK, France, Japan - Size and Forecast 2024-2028

Published: Jul 2024 141 Pages SKU: IRTNTR74548

Market Overview at a Glance

$50.75 B
Market Opportunity
46.12%
CAGR
32.84
YoY growth 2023-2024(%)

E-Axle Market Size 2024-2028

The e-axle market size is forecast to increase by USD 50.75 billion at a CAGR of 46.12% between 2023 and 2028.

  • The market is experiencing significant growth due to several key trends. The increasing adoption of electric vehicles (EVs) is driving market demand, as e-axles are a crucial component of EV powertrains. Additionally, the e-axle system's popularity is on the rise due to its ability to integrate the motor, power electronics, and transmission into a single compact unit, improving vehicle efficiency and reducing weight. However, the market growth is being challenged by the global semiconductor chip shortage, which has led to a decline in automotive production. Despite this hurdle, the long-term outlook for the market remains positive, with continued innovation and advancements in technology expected to drive growth.

    • What will be the Size of the E-Axle Market During the Forecast Period?

    E-Axle Market Size

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  • The market is experiencing significant growth as battery electric vehicles (BEVs) and heavy commercial vehicles (HCVs) transition towards zero-emission solutions. Modular e-axle designs, which integrate electric motor, gearbox, inverter, and power source into a single component, are gaining popularity due to their efficiency and downsizing capabilities. These electric drivetrain systems enable both front wheel drive and four wheel drive configurations, enhancing vehicle performance and reducing power consumption. The electric motor acts as both a motor and a generator, allowing energy to be recaptured during braking and reused. The recharging infrastructure and vehicle prices continue to evolve, making BEVs increasingly competitive with traditional internal combustion engine vehicles.
  • The shift towards a carbon neutral society is driving the demand for electrification systems, with automotive parts manufacturers investing heavily in research and development to meet this demand. The electric powertrain market is expected to witness substantial growth, with trends towards increasing efficiency and continuous improvement in technology.

    • How is this E-Axle Industry segmented and which is the largest segment?

    The e-axle industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

    • Vehicle Type
      • Passenger cars
      • Commercial vehicles
    • Geography
      • North America
        • US
      • Europe
        • UK
        • France
      • APAC
        • China
        • Japan
      • South America
        • Middle East and Africa

        By Vehicle Type Insights

        • The passenger cars segment is estimated to witness significant growth during the forecast period.

        The global E axle market is experiencing significant growth, particularly In the passenger car segment. This expansion is driven by the increasing sales of battery electric vehicles (BEVs) and hybrid electric vehicles (HEVs), where E axles serve as an efficient and cost-effective electric drivetrain solution. The demand for larger utility vehicles, including SUVs, crossovers, and MPVs, is also boosting market growth. Passenger cars are classified into entry-level, mid-level, and premium or luxury-level vehicles. Based on car body type, they are categorized as hatchbacks, compact sedans, mid-size sedans, and luxury sedans. The modular e-axle design offers advantages such as compactness, improved power, and enhanced vehicle dynamics.

        Integration of advanced technologies like silicon carbide, MOSFET switches, multilevel inverters, and integrated E axles further enhances the performance and efficiency of electric powertrains. The transition to electric vehicles (EVs) from gasoline-powered engines is essential for reducing carbon neutral society's dependence on fossil fuels, decreasing CO2 emissions, and mitigating ozone layer depletion. Recharging infrastructure development and vehicle pricing are crucial factors influencing the market's growth trajectory.

        E-Axle Market Size

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        The Passenger cars segment was valued at USD 3.15 billion in 2018 and showed a gradual increase during the forecast period.

        Regional Analysis

        • North America is estimated to contribute 35% to the growth of the global market during the forecast period.

        Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

        E-Axle Market Share by Geography

        For more insights on the market share of various regions, Request Free Sample

        The market in North America is experiencing significant growth due to the increasing adoption of Electric Vehicles (EVs) In the region. The US and Canada are major contributors to this market's revenue growth. The growing concern for reducing vehicle emissions, coupled with the lower operating and maintenance costs of EVs, is driving the demand for these vehicles In the US. Furthermore, government initiatives to promote the use of EVs and the expansion of manufacturing facilities by companies such as Tesla, Nissan, and Ford are also contributing to the market's growth. The integration of electric drivetrain systems, including electric motors, power sources, and battery systems, in EVs is a key trend In the automotive industry.

        The compactness, power, and efficiency of electric drive components are major advantages over traditional Internal Combustion Engines (ICEs), including gasoline-powered engines, Diesel Oxidation Catalysts, Diesel Particulate Filters, Lean NO Catalysts, and Selective Catalytic Reductions. The market for E-Axles is expected to continue growing as the world transitions towards a carbon neutral society, requiring the development of recharging infrastructure and the production of more efficient and downsized vehicles. Key components of E-Axles include battery energy density, electric range, hydrogen fuel cells, and vehicle dynamics. The market for E-Axles is expected to witness significant advancements in modularity, scalability, flexibility, cooling system management, and electric powertrain technologies, including Silicon carbide, MOSFET switches, Total Harmonic Distortion, Multilevel inverters, and Integrated E-Axles.

        The market's growth is also influenced by factors such as the increasing popularity of hybrid electric vehicles, front-wheel drive, and four-wheel drive systems, as well as the need to reduce unsprung weight and improve suspension system efficiency.

        Market Dynamics

        Our  researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

        What are the key market drivers leading to the rise In the adoption of E-Axle Industry?

        Growing adoption of EVs is the key driver of the market.

      • The market In the electric vehicle (EV) sector has witnessed significant growth due to the increasing adoption of zero-emission vehicles, including battery electric vehicles (BEVs) and hybrid electric vehicles (HEVs). The electric drivetrain systems, comprising an electric motor, power source (battery), inverter, and gearbox, have become essential components In the electrification of vehicles. These systems offer advantages such as compactness, efficiency, and reduced carbon footprint compared to traditional Internal Combustion Engines (ICEs), Diesel Oxidation Catalysts, Diesel Particulate Filters, Lean NO Catalysts, and Selective Catalytic Reduction systems. The modular e-axle design offers scalability, flexibility, and cooling system management, making it suitable for various vehicle types, including front-wheel drive (FWD) and four-wheel drive (4WD) applications.
      • The electric motor and power electronics have seen advancements in materials such as silicon carbide and MOSFET switches, leading to improved efficiency and reduced total harmonic distortion. The market dynamics have been influenced by factors such as the increasing demand for a carbon neutral society, recharging infrastructure development, and the need to reduce Ozone layer depletion and CO2 emissions. The cost of EVs, primarily driven by the expensive batteries and electric powertrain components, has been decreasing due to economies of scale and technological advancements. The integration of E-Axles in heavy commercial vehicles, such as small commercial vehicles, has led to downsizing, improved vehicle dynamics, and reduced fossil fuel consumption.
      • The market is expected to continue growing, driven by the increasing demand for electric vehicles and advancements in electric drive components, including motor, inverter, and gearbox technologies.

        • What are the market trends shaping the E-Axle Industry?

        Increase in popularity of E-axle system is the upcoming market trend.

      • The market is experiencing significant growth due to the increasing demand for battery electric vehicles (BEVs) and the shift towards zero-emission vehicles. The integration of modular e-axle designs in electric vehicles (EVs) is a key trend In the industry, as it allows for compactness, improved power, and increased driving range. The electric drivetrain system, including the electric motor, power source (battery), inverter, and gearbox, is a crucial component of the electric powertrain. Efficiency is a major concern for vehicle users, and downsizing and optimizing power consumption are essential to meet this demand. The electrification of vehicles, including hybrid electric vehicles (HEVs), is a critical step towards a carbon neutral society.
      • The recharging infrastructure and vehicle prices are also important factors influencing the market. The e-axle system's modularity, scalability, and flexibility enable the integration of cooling system management and electric drive components to enhance vehicle dynamics. The use of advanced materials, such as silicon carbide, MOSFET switches, multilevel inverters, and integrated E-Axles, contributes to increased efficiency and reduced active current losses. The integration of electric motors into the rigid rear axle would significantly reduce unsprung weight, improve vehicle engineering, and reduce CO2 emissions and fossil fuel consumption. The development of modular e-axle systems with independent suspension-based vehicles and cooling system management further enhances the system's performance.
      • Battery energy density and electric range are critical factors in improving the driving range of BEVs. The integration of hydrogen fuel cells and advancements in battery technology are expected to address these concerns and expand the market's potential applications to passenger cars and small commercial vehicles.

        • What challenges does the E-Axle Industry face during its growth?

        Decline in automotive production due to global semiconductor chip shortage is a key challenge affecting the industry growth.

      • The market is experiencing significant growth as battery electric vehicles (BEVs) and heavy commercial vehicles (HCVs) continue to gain popularity In the quest for zero-emission transportation. Modular e-axle designs, a key component of electric vehicles (EVs) and hybrid electric vehicles (HEVs), are revolutionizing the electric drivetrain systems. These systems consist of an electric motor, power source (battery), inverter, and gearbox, which replace the traditional internal combustion engine, transmission, and fuel source. The compactness, power, and efficiency of electric powertrains offer several advantages over gasoline-powered engines. For vehicle users, this means longer driving ranges, reduced power consumption, and lower carbon emissions.
      • The shift towards electrification systems is also contributing to the reduction of fossil fuel consumption and the depletion of the Ozone layer. The market for electric drive components, including e-axles, is expected to grow significantly due to the increasing demand for electric vehicles. The modularity, scalability, and flexibility of these systems enable manufacturers to design vehicles with independent suspension-based systems, cooling system management, and minimal active current losses. The integration of advanced technologies such as silicon carbide, MOSFET switches, total harmonic distortion, multilevel inverters, and integrated E-Axles is driving innovation In the electric vehicle industry. The ARAI mobility outlook highlights the potential for small commercial vehicles to adopt electric powertrains, further expanding the market for e-axles.
      • However, challenges such as vehicle prices, efficiency downsizing, and the development of recharging infrastructure remain key considerations for the market's growth. The ongoing electrification trend is expected to continue, with electric vehicles becoming a more viable and attractive alternative to traditional gasoline-powered vehicles.

        • Exclusive Customer Landscape

        The e-axle market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the e-axle market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

        E-Axle Market Share by Geography

         Customer Landscape

        Key Companies & Market Insights

        Companies are implementing various strategies, such as strategic alliances, e-axle market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.

        AVL List GmbH - The company specializes In the production of advanced e-axle systems, incorporating components such as high-voltage electric drive motors and integrated drive modules. These innovative solutions enable improved vehicle efficiency and reduced emissions, making them a valuable addition to the transportation industry. The e-axle systems offer enhanced torque and power density, contributing to superior vehicle performance. By integrating the motor and drive module into a single component, the company's offerings streamline vehicle architecture and simplify manufacturing processes. The adoption of e-axle technology is poised to revolutionize the automotive sector, with numerous automakers and suppliers investing heavily in its development.

        The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

        • AVL List GmbH
        • BorgWarner Inc.
        • BRIST Axle Systems Srl LLC
        • Cardone Industries Inc.
        • Continental AG
        • Cummins Inc.
        • Daimler Truck AG
        • Dana Inc.
        • Dorman Products Inc.
        • GKN Automotive Ltd.
        • Hyundai WIA Corporation
        • J.K. Fenner India Ltd.
        • Linamar Corp.
        • Magna International Inc.
        • Nidec Corp.
        • PACCAR Inc.
        • Robert Bosch GmbH
        • Schaeffler AG
        • SONA BLW Precision Forgings Ltd.
        • ZF Friedrichshafen AG

        Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

        Research Analyst Overview

        The market encompasses the design, production, and integration of electric drivetrain systems for various vehicle types, including battery electric vehicles (BEVs) and hybrid electric vehicles (HEVs). These systems replace conventional gasoline-powered engines and transmissions, integrating electric motor, power source, inverter, and gearbox functions into a single compact unit. The shift towards electric vehicles (EVs) is driven by several factors, including the desire for increased vehicle efficiency, reduced carbon emissions, and the move towards a carbon-neutral society. The electrification of vehicles offers numerous advantages, such as improved power and torque delivery, reduced unsprung weight, and enhanced vehicle dynamics. E-axles enable vehicle users to experience zero-emission driving, contributing to the reduction of harmful pollutants, including CO2 emissions and ozone layer depletion.

        The compactness of these systems also facilitates downsizing, leading to smaller vehicle dimensions and improved energy efficiency. The modular design of e-axles allows for scalability and flexibility, enabling their application in various vehicle segments, from small commercial vehicles to heavy commercial vehicles. The integration of advanced technologies, such as silicon carbide power semiconductors, mosfet switches, and multilevel inverters, enhances the performance and efficiency of e-axles. The evolution of e-axle technology has led to significant advancements in cooling system management and active current losses reduction, ensuring reliable and efficient power delivery. Bus bars and stator housing designs have been optimized to minimize energy losses and improve overall system performance.

        The integration of independent suspension-based vehicles with e-axles offers numerous benefits, including improved handling and ride quality. In contrast, rigid axle suspension systems may require additional modifications to accommodate e-axles, necessitating careful vehicle engineering considerations. The electrification of vehicles is a complex process, requiring the development of robust recharging infrastructure and the optimization of vehicle prices to make EVs accessible to a broader audience. The integration of e-axles into various vehicle types is a crucial step towards achieving these goals, enabling the mass adoption of EVs and the transition to a sustainable transportation future. In summary, the market represents a significant opportunity for innovation and growth, as the global automotive industry shifts towards electrification.

        The development of efficient, compact, and scalable e-axle systems will be essential in enabling the widespread adoption of EVs and contributing to the reduction of carbon emissions and the pursuit of a carbon-neutral society.

        Market Scope

        Report Coverage

        Details

        Page number

        141

        Base year

        2023

        Historic period

        		 2018-2022

        Forecast period

        2024-2028

        Growth momentum & CAGR

        Accelerate at a CAGR of 46.12%

        Market growth 2024-2028

        USD 50753.5 million

        Market structure

        Fragmented

        YoY growth 2023-2024(%)

        32.84

        Key countries

        US, China, UK, France, and Japan

        Competitive landscape

        Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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        What are the Key Data Covered in this E-Axle Market Research and Growth Report?

        • CAGR of the E-Axle industry during the forecast period
        • Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
        • Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
        • Accurate predictions about upcoming growth and trends and changes in consumer behaviour
        • Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
        • Thorough analysis of the market’s competitive landscape and detailed information about companies
        • Comprehensive analysis of factors that will challenge the e-axle market growth of industry companies

        We can help! Our analysts can customize this e-axle market research report to meet your requirements.

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        Table of Contents not available.

        Research Methodology

        Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

        INFORMATION SOURCES

        Primary sources

        • Manufacturers and suppliers
        • Channel partners
        • Industry experts
        • Strategic decision makers

        Secondary sources

        • Industry journals and periodicals
        • Government data
        • Financial reports of key industry players
        • Historical data
        • Press releases

        DATA ANALYSIS

        Data Synthesis

        • Collation of data
        • Estimation of key figures
        • Analysis of derived insights

        Data Validation

        • Triangulation with data models
        • Reference against proprietary databases
        • Corroboration with industry experts

        REPORT WRITING

        Qualitative

        • Market drivers
        • Market challenges
        • Market trends
        • Five forces analysis

        Quantitative

        • Market size and forecast
        • Market segmentation
        • Geographical insights
        • Competitive landscape

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        Frequently Asked Questions

        E-Axle market growth will increase by $ 50753.5 mn during 2024-2028.

        The E-Axle market is expected to grow at a CAGR of 46.12% during 2024-2028.

        E-Axle market is segmented by Vehicle Type( Passenger cars, Commercial vehicles)

        AVL List GmbH, BorgWarner Inc., BRIST Axle Systems Srl LLC, Cardone Industries Inc., Continental AG, Cummins Inc., Daimler Truck AG, Dana Inc., Dorman Products Inc., GKN Automotive Ltd., Hyundai WIA Corporation, J.K. Fenner India Ltd., Linamar Corp., Magna International Inc., Nidec Corp., PACCAR Inc., Robert Bosch GmbH, Schaeffler AG, SONA BLW Precision Forgings Ltd., ZF Friedrichshafen AG are a few of the key vendors in the E-Axle market.

        North America will register the highest growth rate of 35% among the other regions. Therefore, the E-Axle market in North America is expected to garner significant business opportunities for the vendors during the forecast period.

        US, China, UK, France, Japan

        • Growing adoption of EVsThe cost of EVs in comparison to other non-electric and ICE vehicles is high is the driving factor this market.
        • primarily due to the expensive batteries and electric powertrain components that are used in these vehicles. These parts hold a major cost of the overall cost of vehicles. The cost of batteries is the driving factor this market.
        • in turn is the driving factor this market.
        • is primarily dependent on the raw material price and production volume. However is the driving factor this market.
        • the cost has decreased significantly in recent years is the driving factor this market.
        • driven by their growing usage in heavy electric vehicles (HEVs) is the driving factor this market.
        • battery electric vehicles (BEVs) is the driving factor this market.
        • plug-in hybrid electric vehicles (PHEVs) is the driving factor this market.
        • UPS systems is the driving factor this market.
        • and other non-automotive electronic appliances. Thus is the driving factor this market.
        • the market has been witnessing a decline in the cost of Li-ion batteries since 2013 is the driving factor this market.
        • owing to the increased production volume. One of the primary reasons for the decline in the cost of Li-ion batteries is the shift of manufacturing bases from Japan to China and considering the supply of rare earth materials like dysprosium and terbium for HEV battery production. This shift encouraged Chinese manufacturers to develop Li-ion batteries at a competitive price compared with lead-acid batteries. Due to these factors is the driving factor this market.
        • there has been an increase in the use of Li-ion batteries in day-to-day applications.  In June 2021 is the driving factor this market.
        • a battery science company revealed a technology to power electric vehicle batteries. The technology fuses silicon nanowires onto commercial graphite powders is the driving factor this market.
        • which is a step that is claimed to deliver increased battery range and decreased charge time and cost. A decline in battery prices will allow the price of EV to come at par with the prices of conventional buses soon. This decline in cost will increase the demand for EVs globally and will help in driving the growth of the market during the forecast period.   is the driving factor this market.

        The E-Axle market vendors should focus on grabbing business opportunities from the Passenger cars segment as it accounted for the largest market share in the base year.