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.
An electric axle (e-axle) is an electro-mechanical propulsion system integrated into an axle structure of battery electric vehicles (BEVs) to deliver power for turning the wheels. It is manufactured using lightweight and high-strength metal like aluminum and includes bearings, shafts, pinions, and gearing components. It combines power electronics, electric motors, and transmission into a unified compact system, which reduces complexity and makes it possible to customize power, torque, and installation space according to end users’ requirements. Presently, automotive original equipment manufacturers (OEMs) are relying on e-axle solutions to make optimum use of the internal volume of vehicles for extra battery capacity, passenger space, and other features.
E-Axle Market Trends:
The increasing use of hybrid electric cars (HEVs), commercial vehicles, and trucks on account of rapid urbanization, inflating income levels, and expanding global trade represents one of the key factors impelling the market growth. This can also be attributed to the increasing awareness among individuals about the harmful effects of fossil fuel-based automobiles on human health and global climate. In line with this, governing agencies of numerous countries are banning the sales of fossil fuel passenger cars to reduce vehicle-based carbon dioxide (CO2) emissions. This, in turn, is positively influencing the demand for e-axles across the globe as they assist in improving energy efficiency and noise, vibration, and harshness (NVH) performance. They also support high-performance scalability for a broad spectrum of applications for various types of vehicles. Apart from this, leading manufacturers are developing advanced products that are equipped with high-strength casings and can accommodate both high torque and input speeds. This is projected to drive the market in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global E-axle market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component type, vehicle type and drive type.
Breakup by Component Type:
Breakup by Vehicle Type:
Breakup by Drive Type:
Forward Wheel Drive
Rear Wheel Drive
All Wheel Drive
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and ZF Friedrichshafen AG (Zeppelin-Stiftung).
Base Year of the Analysis
Component Type, Vehicle Type, Drive Type, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
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 and ZF Friedrichshafen AG (Zeppelin-Stiftung)
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Key Questions Answered in This Report
The global E-axle market was valued at US$ 3.6 Billion in 2022.
We expect the global E-axle market to exhibit a CAGR of 20.2% during 2023-2028.
The rising adoption of E-axle for improving energy efficiency and Noise, Vibration, And Harshness (NVH) performance for various types of vehicles is primarily driving the global E-axle market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for E-axle.
Based on the component type, the global E-axle market can be categorized combining motors, power electronics, transmission, and others. Currently, transmission exhibits clear dominance in the market.
Based on the vehicle type, the global E-axle market has been segmented into ICE vehicles and electric vehicles, where ICE vehicles hold the largest market share.
Based on the drive type, the global E-axle market can be bifurcated into forward wheel drive, rear wheel drive, and all wheel drive. Among these, forward wheel drive accounts for the majority of the total market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global E-axle market include 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, and ZF Friedrichshafen AG (Zeppelin-Stiftung).
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