According to the latest report by IMARC Group, titled, “E-Axle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, Offers a comprehensive analysis of the industry, which comprises insights on the E-axle market share. 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.

An electric axle (e-axle) represents an electro-mechanical propulsion system integrated into an axle network of battery electric vehicles (BEVs) to supply power for turning the wheels. It is manufactured using high-strength and lightweight metal, such as aluminum, and includes shafts, pinions, bearings, and gearing components. E-axle combines electric motors, power electronics, and transmission into a suitable compact system, which reduces complexity and makes it possible to customize torque, power, and installation space according to the requirements of the end users. As a result, automotive original equipment manufacturers (OEMs) rely on e-axle solutions to make proper use of the internal volume of vehicles for added passenger space, battery capacity, and other features.

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E-Axle Market Trends and Drivers:

The extensive usage of hybrid electric cars (HEVs), commercial vehicles, and trucks, on account of the emerging trend of urbanization, the inflating income levels, and the expanding trade activities, is among the primary factors driving the e-axle market. Besides this, the increasing awareness in individuals toward the harmful effects of fossil fuel-based vehicles on the global climate and human health is further augmenting the market growth. Moreover, the escalating demand for e-axles, as they aid in improving energy efficiency and noise, vibration, and harshness (NVH) performance and support high-performance scalability for various automobile applications, is also catalyzing the global market. Apart from this, the launch of several policies by the government bodies to ban the sales of fossil fuel passenger cars to reduce vehicle-based carbon dioxide (CO2) emissions is acting as another significant growth-inducing factor. Furthermore, the leading manufacturers are developing advanced products equipped with high-strength casings that can accommodate increased torque and input speeds, which is anticipated to propel the e-axle market over the forecasted period.

E-Axle Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

  • 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).

The report has segmented 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

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