14-May-2021 | Facts and Factors
As per the market research report published by Facts and Factors, the global E-Axle Market was valued at USD 20.6 Billion in 2020. This market is further expected to generate revenue of around USD 78.23 Billion by end of 2026, growing at a CAGR of around 24.9% between 2021 and 2026.
A sudden surge is observed in the sales of e-axles in response to the driven revenue generated by EV’s. Certain factors such as an excessive rise in fuel prices across the globe raised consciousness about environmental issues, and vast improvements in EV’s w.r.t battery range, performance and maneuverability have further supplemented the growth of e-axles.
Browse the full “E-Axle Market By Shaft Type (Single Axle & Multiple Axle), By Material (Alloys & Carbon Fiber), By Vehicle Type (Commercial Vehicles & Electric Vehicles), By Drive Type (Forward Wheel Drive (FWD), Rear Wheel Drive (RWD), & All Wheel Drive (AWD)), By Component (Combining Motors, Power Electronics, Transmission, and Others), and By Regions: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” report at https://www.fnfresearch.com/e-axel-market
According to the International Energy Agency(IEA), by the end of 2019, EV’s accounted for almost 2.6% of total global automotive sales accounting for around 2.1 million units. The e-axle market is directly proportional to the EV market in a huge manner. Several factors such as improvement in the production value of e-axle combined with the immense growth of the EV market will propel the revenue generated in a substantial way.
Report Scope
Report Attribute |
Details |
Market Size in 2020 |
USD 20.6 Billion |
Projected Market Size in 2026 |
USD 78.23 Billion |
CAGR Growth Rate |
24.9% CAGR |
Base Year |
2020 |
Forecast Years |
2021-2026 |
Key Market Players |
American Axel and Manufacturing, Hyundai WIA, GKN Plc, ZF Friedrichshafen, Continental AG, Dana Limited, and Others |
Key Segment |
By Shaft Type, Material, Vehicle Type, Drive Type, Component, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Top Market Players
Major players operative in the global e-axle market is American Axel and Manufacturing, Hyundai WIA, GKN Plc, ZF Friedrichshafen, Continental AG, and Dana Limited, amongst others.
Market Dynamics
The automotive scene changes at a rapid pace due to trends in industrialization increased urbanization and a huge uptake of predisposed cash with the consumer base. Countries such as India, China, and Brazil are driving the sales for e-axles from their respective regions at a huge pace. Moreover, Europe has taken the lead in granting incentives in the terms of tax benefits as well as free parking spaces. Europe has even deemed stringent laws that are designed to make the region carbon-neutral in the upcoming years. And as such heavy investments are being made to set up the required infrastructure designed to make life simpler for owning and maintaining an EV. The government of Brazil introduced a program inoVar-auto which focuses on the same goals as the European counterparts. Due to the incentive factors, Brazil has witnessed a huge growth of EVs coupled with production and manufacturing in the region. The Chinese government has pushed for EV’s rather than traditional ICE vehicles which have led the country to an increase in the production and manufacturing abilities of e-axle. The drive segment can be broken into forwarding wheel drive(FWD), rear-wheel drive(RWD), and all-wheel drive(AWD). The FWD shares the largest market value in this segment due to the early adaptation of EV’s across the globe. In due time, the all-wheel-drive subcategory is expected to grow with the highest growing CAGR followed by the rear-wheel drive. Rear-wheel drives produce a drag of oversteer and are usually the least preferred choice among everyday users.
The vehicle type category can be further categorized as commercial vehicles and electronic vehicles. Commercial vehicles can be further split between passengers, LCV’s and heavy commercial vehicles while electronic vehicles can be split between hybrid electric vehicles, battery-operated electric vehicles, and plug-in hybrid electric vehicles. The passenger commercial vehicle and the battery-operated EV’s have been witnessing the highest growth CAGR in their respective categories.
The Asia Pacific Region Dominates The Global E-Axle Market
India and China are expected to lead the market share in terms of global revenue for e-axle during the forecast period. Both the countries present strong production and manufacturing capabilities alongside a huge dearth of population beaming with increased disposable resources. India which is leaned more toward public and cheaper forms of transport has suddenly seen a rise in the inclination toward private vehicles. Furthermore, as the effects of covid begin to dissipate from the global presence, India looks for new players to capture in a completely open EV space. With the entry of major players in the EV space such as Tesla, the growth for the e-axel market seems to sustain for the long term.
The global e-axle market is segmented as follows
E-Axle Market: By Shaft Type Segment Analysis
- Single-Axle
- Multiple Axle
E-Axle Market: By Material Segment Analysis
E-Axle Market: By Vehicle Type Segment Analysis
- Commercial Vehicles
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Electric Vehicles
- Hybrid Electric Vehicles
- Battery-Operated Electric Vehicles
- Plug-in Hybrid Electric Vehicles
E-Axle Market: By Drive Type Segment Analysis
- Forward Wheel Drive(FWD)
- Rear Wheel Drive(RWD)
- All Wheel Drive(AWD)
E-Axle Market: By Component Segment Analysis
- Combining Motors
- Power Electronics
- Transmission
- Others
E-Axle Market: By Regional Segment Analysis
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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