Automotive E-axle Market Size, Share & Trends Analysis Report By Application (Front, Rear), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2023 - 2030

Automotive E-axle Market Size, Share & Trends Analysis Report By Application (Front, Rear), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2023 - 2030

Automotive E-axle Market Growth & Trends

The global automotive E-axle market size is expected to reach USD 139.15 billion by 2030, registering a CAGR of 37.7% during the forecast period, according to a new report by Grand View Research, Inc. Electric vehicle production directly influences the demand for automotive e-axles as it is an integral component of a vehicle. Prominent countries such as South Korea and Germany have set aggressive production targets for electric vehicles, which is expected to drive growth for automotive electric axle market over the forecast period.

The availability of low-cost labor and raw materials has been a key contributing factor for the increased production of vehicles in the Asia Pacific. For instance, in 2018, China was recognized as the largest electric car manufacturer. Additionally, the growing population and increasing disposable income have led to increase in automobile sales. The high demand for premium and luxury electric vehicles, especially in developing economies such as India and China, is expected to further drive the market growth for automotive e-axles.

The electric vehicle market growth is primarily driven by the development of public EV charging infrastructure. As such, numerous nations have been promoting the installation of charging infrastructure at public places. The development of charging facilities is a lucrative business opportunity for both government and private sector companies, which, in turn, is likely to drive the growth of electric cars and automotive electric axle drive market. Other factors driving the market growth include various regulations and policies introduced by governments to increase the adoption of electric vehicles.

A keen focus toward research and development in the automotive e-axle technology has resulted in the reduction of overall assembly weight and imparted an effective and compact design. The enhanced design has enabled integrators to accommodate more batteries, which eventually extends the ferry range of electric vehicles. Prominent players are focusing on developing a series of new products that are suited for various vehicle platforms. For instance, in January 2019, BorgWarner launched an integrated automotive e-axle named iDM. The newly-developed product comes in three different versions and is suited for both front and rear applications of passenger cars and light commercial vehicles.

Automotive E-axle Market Report Highlights

• The North American dominated the market with a share of 43.9% in 2022, due to shifting preference of the U.S. population from high horsepower vehicles and large SUVs to compact electric cars.
• By application, the rear segment dominated the market in 2022 and growing at CAGR of 41.5% over the forecast period.
• The global market for automotive e-axle is consolidated in nature and is dominated by established players such as Dana Incorporated, Melrose Industries PLC, Robert Bosch GmbH, and Schaeffler AG.

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