Automotive E-axle Market Analysis Report By Application, By Vehicle Type, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global automotive e-axle market size was accounted for USD 6,405.1 million in 2018. It is projected to grow at a CAGR of 23.7% over the forecast period, 2019 to 2025. Growing demand for e-axle in light commercial vehicles is expected to proliferate the market growth. In addition, increasing spending on R & D activities and the rising need for automotive e-axle in heavy vehicles are supporting the market growth. Improved design in e-axle has opened up space for batteries, which enhances vehicle efficiency for long distances.

Furthermore, the high demand for cost-effective, structurally safe, and lightweight chassis has encouraged manufacturers to produce advanced products. For example, AxleTech has introduced integrated e-axles with smaller packaging. These e-axles are suitable for heavy-duty and medium-duty commercial trucks.

Technological developments have opened up growth opportunities for manufacturers. Additionally, refinement in average driving ranges is projected to have a positive impact on market growth. Moreover, supportive government policies and regulations are surging the demand for electric vehicles. European Union has proposed a plan to roll out zero-emission vehicles (ZEV) in the market by 2030.  These initiatives are anticipated to boost market growth.

Application Insights

In 2018, the front application in passenger car e-axle led the market with the highest share in the overall market. This segment is projected to attain a value of USD 14,219.6 million by the end of 2025 and is expected to grow at a CAGR of around 26.3% during the forecasted period. The rear e-axle type segment is estimated to grow at a significant rate owing to technological advancement.

The rising application of e-axle in heavy-duty commercial vehicles is contributing to market growth. In Addition, the manufacturers are investing in R & D activities to produce new products to complement the growth of electric vehicles. This factor is anticipated to increase the demand for automotive e-axle in the coming few years.

Regional Insights

In 2018, the Asia Pacific passenger car e-axle market accounted for over USD 3,160.1 million in the overall market. Rapid industrial development across countries such as China, South Korea, and India is boosting the growth of the market. The European market has increased the investmentonelectric vehicles, due to which the region has witnessed a reduction in the adoption of conventional vehicles.

Government authorities in European Union promote the application of zero-emission EVs. In the U.S., changing consumer preference to compact electric vehicles from large SUVs is expected to positively impact the growth of the automotive e-axle market. These key initiatives are projected to foster the demand for automotive electric axles.

Impact of COVID-19

COVID-19 pandemic has adversely impacted the global commercial vehicle market, as the global sales have witnessed a decline in their sales by 26 to 30.0% during the first quarter of 2020. Supply chain disruption and lockdown restriction have interrupted the production of automotive components such as E-axle and others. Thus, OEMs are finding it challenging to manage the stock levels of the finished vehicles.

Technology upgradations and stage VI emission standards are expected to bolster the growth of vehicle manufacturing in the forecast period, especially in China, and India. This factor is projected to positively impact the market growth.

Automotive E-axle Market Share Insights

Leading players in the market include Melrose Industries, Schaeffler AG, Robert Bosch GmbH, Magna International Inc., and Dana Incorporated. Key players in the market invest heavily in technological advancements, such as e-axle technology to meet consumer demand.

Major players engage in strategic investment to expand their reach across the globe. The market is dominated by companies like Robert Bosch, and Dana Incorporated. Key players in the market include Dana Incorporated, Robert Bosch GmbH, Melrose Industries PLC, Schaeffler AG, and Magna International Inc. among others.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global automotive e-axle market report based on vehicle type, namely passenger car segment and commercial vehicle segment. The passenger car e-axle segment has further been segmented based on application and region, whereas the commercial vehicle e-axle segment has been sub-segmented based on region:

• Passenger Car E-Axle Application Outlook (Revenue, USD Thousand; 2015 - 2025)
    • Front
    • Rear

• Passenger Car E-Axle Regional Outlook (Revenue, USD Thousand; 2015 - 2025)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • U.K.
        • France
    • the Asia Pacific
        • China
        • India
        • Japan
        • South Korea
    • RoW

• Commercial Vehicle E-Axle Regional Outlook (Revenue, USD Thousand; 2015 - 2025)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • U.K.
        • France
    • the Asia Pacific
        • China
        • India
        • Japan
        • South Korea
    • RoW