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Increasing Adoption Of Electric Vehicles Driving The Growth Of The Market Due To Advancements In Charging Infrastructure And Environmental Awareness Driver: Leading Transformation in the Electric Vehicle E-Axle Market in 2025
Electric Vehicle EAxle
The surge in the use of electric vehicles is predicted to fuel the expansion of electric vehicle e-axle markets. Electric vehicles, which are powered by electric motors instead of traditional internal combustion engines, draw energy from rechargeable batteries. The growing concern for the environment, government incentives, improvements in battery technology, and the surging demand for eco-friendly transport solutions are accelerating the uptake of electric vehicles. The electric vehicle e-axle, which merges the motor, transmission, and power electronics into one unified unit, improves efficiency, decreases weight, and optimizes space usage, thereby heightening the performance, range, and overall energy efficiency of electric vehicles. As an illustration, in January 2024, the International Council on Clean Transportation, a non-profit organization based in the US, reported that the proportion of new vehicle sales attributed to plug-in electric vehicles climbed from around 3% in Q1 2021 to nearly 7% in 2022, exceeding 10% by Q3 2023. Consequently, the rising usage of electric vehicles is propelling the growth of the electric vehicle e-axle market.
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What is the future CAGR of the electric vehicle e-axle market, and how will it impact industry expansion?
In the past few years, the size of the electric vehicle e-axle market has seen brisk expansion. The market which is expected to be worth $41.63 billion in 2024, will surge to a worth of $48.41 billion in 2025, growing at a compound annual growth rate (CAGR) of 16.3%. The epoch growth experienced in the historic period is due to rigorous emission norms, initiatives and financial support by the government, heightened investments in research and development, rapid urbanization, electrification of public transportation, and the sprout of new businesses specializing in the EV industry.
The growth of the electric vehicle e-axle market is projected to increase exponentially in the upcoming years, climbing to a valuation of $87.59 billion by 2029 with a compound annual growth rate (CAGR) of 16.0%. This surge in the forecasted period is due to the expansion of autonomous electric vehicles, standardization initiatives by OEMs, implementation of urban electrification policies, advancement in shared mobility electrification, and the broadening of renewable energy and smart grids. Major anticipated trends for the forecast period encompass the integration of high-end power electronics, compact and lightweight designs, systems with integrated sensors, optimization of design influenced by AI, and advanced optimization of noise, vibration, and harshness (NVH).
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What are the most significant trends transforming the electric vehicle e-axle market today?
Leading companies in the electric vehicle e-axle market are prioritizing the development of innovative solutions, such as minimized e-axles, to improve both performance and efficiency of vehicles. Compact e-axles, a single unit featuring an electric motor, transmission, and power electronics, are designed to promote space optimization, efficiency enhancement and uninterrupted power provision in electric and hybrid vehicles. For example, AVL, a powertrain technology developer from the US, unveiled a high-performance, compact e-axle in September 2024 specifically created for long-haul trucks that weigh up to 40 tons, serving the needs of the electromobility market. This e-axle comprises a consolidated combination of an electric motor, power electronics, and transmission in one setup which boosts efficiency and streamlines electric vehicle designs. It provides a scalable performance range of 50 to 300 kW, making it suitable for different types of vehicles. In addition, the e-axle utilizes silicon carbide semiconductor technology, which ensures efficiency up to 96%, allowing for either extended driving range or lowered battery capacity demands.
Which key market segments comprise the electric vehicle e-axle market and drive its revenue growth?
The electric vehicle e-axle market covered in this report is segmented -
1) By Component: Motor, Transmission, Power Electronics, Other Components
2) By Technology: Permanent Magnet Synchronous Motor, Induction Motor, Switched Reluctance Motor
3) By Propulsion: Hybrid, Electric
4) By Vehicle Type: Passenger Car, Commercial Vehicle
Subsegments:
1) By Motor: Permanent Magnet Synchronous Motor (PMSM), Induction Motor, Switched Reluctance Motor
2) By Transmission: Single-Speed Transmission, Multi-Speed Transmission
3) By Power Electronics: Inverters, Converters, Control Units
4) By Other Components: Bearings, Differential Gears, Cooling Systems
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What regions are at the forefront of electric vehicle e-axle market expansion?
Asia-Pacific was the largest region in the electric vehicle e-axle market in 2024 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the electric vehicle e-axle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the electric vehicle e-axle market?
Major companies operating in the electric vehicle e-axle market are Robert Bosch GmbH, Siemens AG, ZF Friedrichshafen AG, Continental AG, Magna International Inc., Cummins Incorporated, Aisin Seiki Co Ltd., Valeo S.A., Nidec Corporation, Schaeffler Technologies GmbH & Co KG, BorgWarner Inc., Dana Incorporated, Vitesco Technologies Group AG, Linamar Corporation, American Axle & Manufacturing Inc., Garrett Motion Inc., AVL List GmbH, Allison Transmission Holdings Inc., Hitachi Astemo Ltd., Brogen EV Solutions
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What Is Covered In The Electric Vehicle E-Axle Global Market Report?
•Market Size Forecast: Examine the electric vehicle e-axle market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the electric vehicle e-axle market for a structured understanding.
•Key Players Overview: Analyze major players in the electric vehicle e-axle market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the electric vehicle e-axle market.
•Segment Contributions: Evaluate how different segments drive overall growth in the electric vehicle e-axle market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the electric vehicle e-axle market.
•Industry Challenges: Identify potential risks and obstacles affecting the electric vehicle e-axle market.
•Competitive Landscape: Review strategic developments in the electric vehicle e-axle market, including expansions, agreements, and new product launches.
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