Electric Vehicle E-axle Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Electric Vehicle E-axle Market
The Electric Vehicle E-axle market size was valued at USD 41.13billion in 2023, and the market is now projected to grow from USD 50.27 billion in 2024 to USD 152.61 billion by 2032, exhibiting a CAGR of 17.2% during the forecast period of 2024-2032.
The pandemic has drastically affected this specific product market. Lockdowns and other precautions especially the curfews imposed on travelling by governments to slow the spread of COVID-19 caused significant disruptions to a number of automobile plants and their supply chains. This hampered the demand for e-axles by causing delays in the manufacture and supply of electric vehicles. These factors affected the Electric Vehicle E-axle market growth.
Electric car adoption is being driven by the exhaustion of fossil fuel reserves and expansion in gasoline and diesel prices. This has steered the market's advancement. The need for electric vehicles has grown due to environmental concerns about climate change and vehicular pollution. These particular growth driving factors have been recorded to attribute the Electric Vehicle E-axle marketshare.
This particular market trend has attributed the market growth. The difference between their affordability and performance, however, is substantial. The specified market industry developed the demand and supply chains which in trems proved to be a boon for its proliferation. For this reason, in an effort to achieve mass acceptance of electric mobility, strategic alliances between automakers and manufacturers of automotive parts have grown dramatically.
Comprehensive Analysis of Electric Vehicle E-axle Market
The market is divided into two categories: passenger cars and commercial vehicles. A sizeable portion of the market was taken up by the passenger automobile category. With a significant CAGR over the projected period, this category is also thought to be the one that is expanding the fastest in the market. The market is distincted among various drive types, namely all-wheel drive, front-wheel drive, and rear-wheel drive
In inclusion to the population growth of various Asian countries, the region is realising increase in urbanization. The region with the fastest-growing compound annual growth rate (CAGR) for electric vehicle e-axles was Asia Pacific. The regional market is fueled by the profitable demand this generates for electric automobiles.
Dana Limited (U.S.), Robert Bosch GmbH (Germany), GKN Automotive Limited (U.K.), Nidec Corporation (Japan), ZF Friedrichshafen AG (Germany), are a few of the leading industry participants.
In May 2022, This particular company has attributed the market growth in terms of revenue and shares system. At a signing ceremony held in Pinghu, Zhejiang, China, Nidec announced plans to build its flagship e-axle manufacturing. This development has proved that the company will continue to proliferate this particular product market growth. The company plans to build this factory and sell 3.6 million e-axles by 2025, with a 7 million unit production capacity.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 17.2% from 2023 to 2030
Unit Value (USD Billion)
Segmentation By Vehicle Type
Passenger Car
Commercial Vehicle
By Drive Type
All-Wheel Drive
Front-Wheel Drive
Rear-Wheel Drive
By Geography
North America (By Vehicle Type and By Drive Type)
-U.S. (By Vehicle Type)
-Canada (By Vehicle Type)
Europe (By Vehicle Type and By Drive Type)
-U.K. (By Vehicle Type)
-Germany (By Vehicle Type)
-France (By Vehicle Type)
-Rest of Europe (By Vehicle Type)
Asia Pacific (By Vehicle Type and By Drive Type)
-China (By Vehicle Type)
-India (By Vehicle Type)
-Japan (By Vehicle Type)
-Rest of Asia Pacific (By Vehicle Type)
Rest of the World (By Vehicle Type and By Drive Type)
-Middle East & Africa (By Vehicle Type)
-Latin America (By Vehicle Type)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Industry Developments –Mergers, Acquisitions and Partnerships
- 4.2. Porters Five Forces Analysis
- 4.3. PEST Analysis
- 4.4. E Axle Supplier Data
- 4.5. Comparison of E-axle Drive Types by Platform
- 4.6. Regulatory Analysis
- 4.7. Impact of COVID-19
- 4.8. Technical Insights on Lubricant/Fluid for EVs
- 5. Global Electric Vehicle E-axle Market Analysis, Insights and Forecast, 2019-2030
- 5.1. Key Findings / Definitions
- 5.2. Market Analysis, Insights and Forecast – By Vehicle Type
- 5.2.1. Passenger Car
- 5.2.2. Commercial Vehicle
- 5.3. Market Analysis, Insights and Forecast – By Drive Type
- 5.3.1. All Wheel Drive
- 5.3.2. Front Wheel Drive
- 5.3.3. Rear Wheel Drive
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia pacific
- 5.4.4. Rest of the world
- 6. North America Electric Vehicle E-axle Market Analysis, Insights and Forecast, 2019-2030
- 6.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 6.1.1. Passenger Car
- 6.1.2. Commercial Vehicle
- 6.2. Market Analysis, Insights and Forecast – By Drive Type
- 6.2.1. All Wheel Drive
- 6.2.2. Front Wheel Drive
- 6.2.3. Rear Wheel Drive
- 6.3. Market Analysis – By Country
- 6.3.1. The U.S.
- 6.3.1.1. By Vehicle Type
- 6.3.2. Canada
- 6.3.2.1. By Vehicle Type
- 7. Europe Electric Vehicle E-axle Market Analysis, Insights and Forecast, 2019-2030
- 7.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 7.1.1. Passenger Car
- 7.1.2. Commercial Vehicle
- 7.2. Market Analysis, Insights and Forecast – By Drive Type
- 7.2.1. All Wheel Drive
- 7.2.2. Front Wheel Drive
- 7.2.3. Rear Wheel Drive
- 7.3. Market Analysis – By Country
- 7.3.1. The U.K
- 7.3.1.1. By Vehicle Type
- 7.3.2. Germany
- 7.3.2.1. By Vehicle Type
- 7.3.3. France
- 7.3.3.1. By Vehicle Type
- 7.3.4. Rest of Europe
- 7.3.4.1. By Vehicle Type
- 8. Asia Pacific Electric Vehicle E-axle Market Analysis, Insights and Forecast, 2019-2030
- 8.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 8.1.1. Passenger Car
- 8.1.2. Commercial Vehicle
- 8.2. Market Analysis, Insights and Forecast – By Drive Type
- 8.2.1. All Wheel Drive
- 8.2.2. Front Wheel Drive
- 8.2.3. Rear Wheel Drive
- 8.3. Market Analysis – By Country
- 8.3.1. Japan
- 8.3.1.1. By Vehicle Type
- 8.3.2. China
- 8.3.2.1. By Vehicle Type
- 8.3.3. India
- 8.3.3.1. By Vehicle Type
- 8.3.4. Rest of Asia Pacific
- 8.3.4.1. By Vehicle Type
- 9. Rest of the World Electric Vehicle E-axle Market Analysis, Insights and Forecast, 2019-2030
- 9.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 9.1.1. Passenger Car
- 9.1.2. Commercial Vehicle
- 9.2. Market Analysis, Insights and Forecast – By Drive Type
- 9.2.1. All Wheel Drive
- 9.2.2. Front Wheel Drive
- 9.2.3. Rear Wheel Drive
- 9.3. Market Analysis – By Sub-Region
- 9.3.1. The Middle East & Africa
- 9.3.1.1. By Vehicle Type
- 9.3.2. Latin America
- 9.3.2.1. By Vehicle Type
- 10. Competitive Analysis
- 10.1. Key Industry Development
- 10.2. Global Market Ranking Analysis (2022)
- 10.3. Competition Dashboard
- 10.4. Comparative Analysis – Major Players
- 10.5. Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
- 10.5.1. Dana Limited
- 10.5.1.1. Overview,
- 10.5.1.2. Products & services,
- 10.5.1.3. SWOT analysis,
- 10.5.1.4. Recent developments,
- 10.5.1.5. strategies,
- 10.5.1.6. financials (based on availability)
- 10.5.2. ZF Friedrichshafen AG
- 10.5.2.1. Overview,
- 10.5.2.2. Products & services,
- 10.5.2.3. SWOT analysis,
- 10.5.2.4. Recent developments,
- 10.5.2.5. strategies,
- 10.5.2.6. financials (based on availability)
- 10.5.3. Nidec Corporation
- 10.5.3.1. Overview,
- 10.5.3.2. Products & services,
- 10.5.3.3. SWOT analysis,
- 10.5.3.4. Recent developments,
- 10.5.3.5. strategies,
- 10.5.3.6. financials (based on availability)
- 10.5.4. GKN Automotive
- 10.5.4.1. Overview,
- 10.5.4.2. Products & services,
- 10.5.4.3. SWOT analysis,
- 10.5.4.4. Recent developments,
- 10.5.4.5. strategies,
- 10.5.4.6. financials (based on availability)
- 10.5.5. Schaeffler AG
- 10.5.5.1. Overview,
- 10.5.5.2. Products & services,
- 10.5.5.3. SWOT analysis,
- 10.5.5.4. Recent developments,
- 10.5.5.5. strategies,
- 10.5.5.6. financials (based on availability)
- 10.5.6. Robert Bosch GmbH
- 10.5.6.1. Overview,
- 10.5.6.2. Products & services,
- 10.5.6.3. SWOT analysis,
- 10.5.6.4. Recent developments,
- 10.5.6.5. strategies,
- 10.5.6.6. financials (based on availability)
- 10.5.7. Magna International Inc.
- 10.5.7.1. Overview,
- 10.5.7.2. Products & services,
- 10.5.7.3. SWOT analysis,
- 10.5.7.4. Recent developments,
- 10.5.7.5. strategies,
- 10.5.7.6. financials (based on availability)
- 10.5.8. Linamar Corporation
- 10.5.8.1. Overview,
- 10.5.8.2. Products & services,
- 10.5.8.3. SWOT analysis,
- 10.5.8.4. Recent developments,
- 10.5.8.5. strategies,
- 10.5.8.6. financials (based on availability)
- 10.5.9. Vitesco Technologies GmbH
- 10.5.9.1. Overview,
- 10.5.9.2. Products & services,
- 10.5.9.3. SWOT analysis,
- 10.5.9.4. Recent developments,
- 10.5.9.5. strategies,
- 10.5.9.6. financials (based on availability)
- 10.5.10. Suzhou Inovance Automotive Co., Ltd.
- 10.5.10.1. Overview,
- 10.5.10.2. Products & services,
- 10.5.10.3. SWOT analysis,
- 10.5.10.4. Recent developments,
- 10.5.10.5. strategies,
- 10.5.10.6. financials (based on availability)
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