E-Axle Market Size to Reach US$ 10.9 Billion by 2028 | Global Industry Report

The global E-axle market size reach US$ 10.9 Billion by 2028, exhibiting a growth rate (CAGR) of 20.2% during 2023-2028.

NY 11249, BROOKLYN, USA, February 24, 2023 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled, “E-Axle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", 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.

Market Overview:

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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