Automotive E-Axle Market Size Worth $27.19 Billion By 2025

The global automotive e-axle market size is anticipated to touch USD 27.19 billion, by the end of 2025, and is projected to grow at a compound annual growth rate of 23.7% during the forecasted period, 2019 to 2025, according to the new report by Million Insights. Increasing adoption of electric vehicles (EVs) is estimated to drive the growth of automotive e-axle in the coming few years. Additionally, countries like Germany and South Korea have planned to produce electric vehicles in large capacity, which is anticipated to surge the market growth.

In Asia Pacific, the availability of affordable raw materials, and low-cost labors are key factors boosting the market growth. For example, China was the largest manufacturers of electric cars in 2018. Additionally, growing economies such as India, and China have witnessed huge growth in the automobile sector. Rising demand for luxurious and premium EVs in the region is projected to propel the growth for automotive e-axle market.

Development in charging infrastructure in places such as shopping malls, parks are expected to contribute to the growth of electric vehicles. The countries are focusing on installing charging stations in public places to meet consumer needs. Private and government sector companies engage in developing charging solutions, which is projected to bolster the demand for axle drive in electric vehicles.

Furthermore, R & D initiatives in automobile e-axles technologies have improved the efficiency, and design of the product. Improved designs opened up space for battery storage capabilities. Several players focus on developing new products using advanced technologies. For example, in 2019, BorgWarner has introduced automotive e-axle called iDM. These products are suitable for rear & front application in commercial vehicles and passenger cars.

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 https://www.millioninsights.com/industry-reports/global-automotive-e-axle-market

Further key findings from the report suggest:

• In 2018, passenger-car based e-axle market in North America accounted for USD 1,139.0 million. It is projected to grow at a significant CAGR of 15.8% from 2019 to 2025.

• Mexican passenger e-axle market is anticipated to expand at the highest CAGR of 27.9% during the forecasted period.

• Depending on the application, the front segment in the U.K. is estimated to constitute USD 36.9 million by the end of forecasted period, 2025. It is expected to grow at a CAGR of over 66.7% during the forecasted period.

• In 2018, China, and the U.S. held a significant share in the global commercial e-axle market.

Million Insights has segmented the global automotive e-axle market 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
    • 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
    • Asia Pacific
        • China
        • India
        • Japan
        • South Korea
    • RoW