Electric Axle Drive Systems Market

Electric Axle Drive Systems Market by System Types (Electric Systems and Hybrid Electric Systems), End-users (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), Vehicle Types (Pure Electric Vehicle, Hybrid Electric Vehicle, and Plug-in Hybrid Electric Vehicle), Motor Types (Induction Motor, Permanent Magnet AC Motor, Brushless DC Motor, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: AL-1659
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 2
  • No. Of Pages: 216
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The global electric axle drive systems market size is anticipated to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rapid growth of automotive sector and increasing demand for electric vehicles world-wide.

Electric Axle Drive Systems Market

Electric axle drive system is a drive solution which serves as a power source for electric and hybrid automobiles. Electric axle drive system is completely integrated into front or the rear axle with main function being delivering power to turn the wheels. Electric axle drive system is known to be made up of fully contained units consisting of high-strength, lightweight metal, and is typically compact by design which directly powers the vehicle’s axle. The system integrates traction motor combined with gear train, motor drives and other power electronics all built into one sub assemble which is then mounted directly with the rear axle of the vehicle. They are less complex and simpler by design further aiding to deliver smoother and efficient drive experience.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing demand for electric vehicles and concerns over rising pollution levels owing to gasoline powered vehicles is anticipated to drive the market expansion during the forecast period.
  • Rapid growth of the automobile sector in the developing regions around the world and increasing disposable income in the emerging nations are major factors spurring the market growth in the coming years.
  • High costs associated with procurement of raw materials and poor charging infrastructure for electric vehicles are projected to impede the market growth in the coming years.
  • Poor aftermarket services and high prices of the spare parts are major challenges restraining the market expansion during the forecast period.
  • R&D investment, technological advancements, and favorable government policies are projected to create significant opportunities for the market players.

Scope of the Report

The report on the global electric axle drive systems market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Electric Axle Drive Systems Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

System Types (Electric Systems and Hybrid Electric Systems), End-users (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), Vehicle Types (Pure Electric Vehicle, Hybrid Electric Vehicle, and Plug-in Hybrid Electric Vehicle), Motor Types (Induction Motor, Permanent Magnet AC Motor, Brushless DC Motor, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Dana Limited, ZF Friedrichshafen AG, GKN Plc., American Axle & Manufacturing, Inc., Robert Bosch GmbH, UQM Technologies, Magna International Inc., Schaeffler technologies AG & Co. KG, Continental AG, BorgWarner Inc.

 

Global Electric Axle Drive Systems Market Segment Insights

Hybrid Electric Systems to dominate the market share

Based on system types, the global electric axle drive systems market is segmented into electric systems and hybrid systems. The hybrid electric systems segment is expected to account for major market share in the coming years owing to their simple and less complex design. Hybrid electric systems are cheaper to maintain and are reliable which is projected to spur the market growth at a steady rate. On the other hand, the electric systems are anticipated to expand at a significant CAGR during the forecast period due to technological advancements and innovations over past couple of years which have bought down the cost of the vehicles considerably.

Electric Axle Drive Systems Market

Passenger Vehicles segment is projected to constitute large market share

In terms of end-users, the global electric axle drive systems market is segregated into passenger cars, light commercial vehicles and heavy commercial vehicles. The passenger vehicles segment is projected to represent large market share during the forecast period due to increasing demand for electric vehicles among the consumers, addition of new innovative technology, and rising concerns of carbon emissions produced by gasoline vehicles.

Pure Electric Vehicles segment is anticipated to register robust growth rate

On the basis on vehicle types, the global electric axle drive systems market is segmented into pure electric vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle. The pure electric vehicles segment is expected to expand at a high CAGR during the forecast period. The segment growth is attributed to rapid development of electric charging grid infrastructure in various countries among the world in a bid to promote use of electric vehicles.

Electric Axle Drive Systems Market

Brushless DC Motor to represent large market share

Based on motor types, the global electric axle drive systems market is divided into induction motor, permanent magnet ac motor, brushless dc motor, and others. The brushless DC motor is projected to account for major market share during the forecast period owing to simpler to maintain, more durable, able to respond faster and at higher operating speeds, easy to control in regard to speed and handling, and is considerably lighter.

North America to dominate the market

On the basis of regions, the global electric axle driving systems market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to dominate the market during the forecast period. The regional market growth can be attributed to growing adoption of electric vehicles, increasing popularity of regional players such as Tesla and Ford, and well-established charging grid in countries such as USA and Canada.  However, the market of Asia Pacific is projected to expand at a substantial CAGR owing to rising passenger electric cars sales in countries such as South Korea, Japan, China, and India.

Electric Axle Drive Systems Market

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Electric Axle Drive Systems Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Electric Axle Drive Systems Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Electric Axle Drive Systems Market - Supply Chain
  4.5. Global Electric Axle Drive Systems Market Forecast
     4.5.1. Electric Axle Drive Systems Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Electric Axle Drive Systems Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Electric Axle Drive Systems Market Absolute $ Opportunity
5. Global Electric Axle Drive Systems Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Electric Axle Drive Systems Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Electric Axle Drive Systems Demand Share Forecast, 2019-2026
6. North America Electric Axle Drive Systems Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Electric Axle Drive Systems Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Electric Axle Drive Systems Demand Share Forecast, 2019-2026
7. Latin America Electric Axle Drive Systems Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Electric Axle Drive Systems Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Electric Axle Drive Systems Demand Share Forecast, 2019-2026
8. Europe Electric Axle Drive Systems Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Electric Axle Drive Systems Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Electric Axle Drive Systems Demand Share Forecast, 2019-2026
9. Asia Pacific Electric Axle Drive Systems Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Electric Axle Drive Systems Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Electric Axle Drive Systems Demand Share Forecast, 2019-2026
10. Middle East & Africa Electric Axle Drive Systems Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Electric Axle Drive Systems Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Electric Axle Drive Systems Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Electric Axle Drive Systems Market: Market Share Analysis
  11.2. Electric Axle Drive Systems Distributors and Customers
  11.3. Electric Axle Drive Systems Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Dana Limited ZF Friedrichshafen AG GKN Plc. American Axle & Manufacturing, Inc. Robert Bosch GmbH UQM Technologies  

Segments Covered in the Global Electric Axle Driving Systems Market Report

System Types

  • Electric Systems
  • Hybrid Electric Systems

End-users

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

Vehicle Types

  • Pure Electric Vehicle
  • Hybrid Electric Vehicle
  • Plug-in Hybrid Electric Vehicle

Motor Types

  • Induction Motor
  • Permanent Magnet AC Motor
  • Brushless DC Motor
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Dana Limited
  • ZF Friedrichshafen AG
  • GKN Plc.
  • American Axle & Manufacturing, Inc.
  • Robert Bosch GmbH
  • UQM Technologies
  • Magna International Inc.
  • Schaeffler technologies AG & Co. KG
  • Continental AG, BorgWarner Inc.

Key players competing in the global electric axle driving systems market include Dana Limited, ZF Friedrichshafen AG, GKN Plc., American Axle & Manufacturing, Inc., Robert Bosch GmbH, UQM Technologies, Magna International Inc., Schaeffler technologies AG & Co. KG, Continental AG, and BorgWarner Inc.

Electric Axle Drive Systems Market

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