Press release
E-Axle Market Expanding at CAGR of 20.2% during 2023-2028 is Predicted to Reach US$ 10.9 Billion in 2028
E-Axle Market Research and Forecast Report 2023-2028
What are the growth prospects of the E-axle industry?
The global E-axle market size reached US$ 3.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.9 Billion by 2028, exhibiting a growth rate (CAGR) of 20.2% during 2023-2028.
What is a E-axle?
An electric axle (E-axle) is an electro-mechanical power system combined with axle structures, power electronics, electric motors, and transmission units of cars. It comprises shafts, bearings, pinions, and differential gearing to create a system that serves as a power source for internal combustion engine vehicles (ICEVs) and hybrid electric vehicles (HEVs). It relies on liquid cooling technology to function efficiently and deliver high-output power to drive the car. It is available in a modular design that reduces operational complexities and modifies the power, torque, and installation space according to the requirements of the vehicle. It is reliable, easy to maintain, and minimizes noise in cars. It reduces the weight of vehicles by combining the motor, reducer, and inverter into a system while offering various power outputs. It facilitates torque distribution to both half-shafts and recharges batteries while slowing the vehicle on descents. It is used in various heavy-duty vehicles, such as trucks, tractors, and bulldozers, to maintain balance and efficiency while traveling uneven roads for long periods of time and reduce the load on the engine. It also eliminates fuel requirements in vehicles and prevents automobile emissions in the environment.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What are the major market drivers in the E-axle market?
At present, the rising demand for e-axle in electric vehicles (EVs) to provide steady power and improve operational efficiency represents one of the primary factors influencing the market positively. Besides this, governing agencies of several countries are undertaking initiatives to promote the utilization of electric vehicles (EVs) by offering subsidies to drivers. These vehicles assist in reducing the consumption of fossil fuels and the concentration of carbon dioxide in the air. In addition, the rising environmental awareness among the masses about the harmful impacts of air pollution is currently offering a favorable market outlook. Apart from this, the increasing integration of technologically advanced features, along with cost-effective chassis and lightweight systems in modern cars to improve the performance and safety of passengers, is strengthening the growth of the market. Additionally, the escalating demand for e-axle in heavy commercial vehicles to prevent engine explosions is supporting the growth of the market. Moreover, the rising production of compact cars to eliminate the load of a complex wiring system and reduce excessive fuel expenditure is contributing to the growth of the market. Furthermore, the increasing demand for incorporating enhanced thermal management systems in the drive components of e-axles is projected to bolster the growth of the market in the future.
E-Axle Market 2023-2028 Competitive Analysis and Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global E-axle market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component type, vehicle type and drive type.
Breakup by Component Type:
Combining Motors
Power Electronics
Transmission
Others
Breakup by Vehicle Type:
ICE Vehicles
Passenger Vehicle
Commercial Vehicle
Electric Vehicle
Breakup by Drive Type:
Forward Wheel Drive
Rear Wheel Drive
All Wheel Drive
Breakup by Region:
North America
Asia-Pacific
Europe
Latin America
Middle East and Africa
List of Major Key Players:
The major players in the market are
AVL List GmbH
Axletech International (Meritor Inc)
Borgwarner Inc
Continental AG
Dana Incorporated
GKN Plc (Melrose Industries)
Nidec Corporation
Robert Bosch GmbH
Schaeffler Technologies AG & Co. KG
ZF Friedrichshafen AG (Zeppelin-Stiftung).
Key Highlights of the Report:
Market Performance (2016-2021)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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