Automotive E-Axle Market Overview
Automotive E-Axle Market Size was valued at USD 25,552.2 Million in 2022. The Automotive E-Axle market industry is projected to grow from USD 29,206.2 Million in 2023 to USD 205,757.51 Million by 2035, exhibiting a compound annual growth rate (CAGR) of 17.7% during the forecast period (2023 - 2035). The Automotive E-Axle Market is expected to grow significantly over the forecast period due to several factors. The growth of the Automotive E-Axle Market is expected to be driven by key factors such as increasing demand for electric vehicles and advantages of automotive e-axles over traditional powertrains propelling its adoption among the OEMS. However, factors such as high initial cost is expected to hamper the growth of the market are expected to restrict market growth. On the other hand, growing demand for electric vehicles in developing countries, development of new automotive e-axle technologies and growing demand for automotive e-axles in commercial vehicles pose lucrative opportunities for the Global market.
As per Analyst at MRFR, “Increasing development of EV infrastructure, government subsidies, and schemes and to expedite electric mobility and achieve widespread adoption. This will help to boost the competitiveness of Automotive E-Axle market.”
Figure1: Automotive E-Axle Market, 2019 - 2035 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Automotive E-Axle Market Opportunity
Increasing Demand for Electric Vehicles
To support an environment that is effective, clean, and sustainable, more and more individuals are switching to electric automobiles. For the market, this has meant profitable growth potential. The market for electric cars has grown because of worries about climate change and vehicular pollution. People are moving toward electric vehicles because of the depletion of fossil fuel supplies and increases in the cost of gasoline and diesel. This has accelerated market growth. In 2021, almost 6.6 million electric vehicles were registered, bringing the total number of electric vehicles on the road to 16.5 million. Considering the Net Zero Emissions standard by 2050, the IEA predicts that by 2030, there will be more than 300 million electric cars on the road, with new car sales accounting for 60% of this growth. The market will rise throughout the forecast period because of these factors, increasing the use of electric vehicles. The market for electric vehicles, or EVs, has grown significantly because of the need to meet future energy needs. The need for sustainable transportation is a major factor in the demand for electric vehicles. The market for electric vehicles (EVs) is emerging as a crucial component of the automotive sector and offers a solution to achieve energy efficiency and lower emissions of pollutants and other greenhouse gases.
Sales of electric drive axles are predicted to increase, in line with the annual growth in sales of electric vehicles. The development of electric drive axle technology is a priority for numerous significant auto technology businesses. The business claims that to optimize customer advantage, this Axle will provide energy-efficient AWD functionality in addition to hybrid and electric modes. In 2020, there were about 370 different types of electric cars available, according to the International Energy Agency's (IEA) global annual EV outlook report, which was released in April 2021. This indicates a 40% yearly rise. The most substantial expansion and numerous models were noted in the popular SUV market in 2020. Electric SUVs hold the greatest market share in the United States and are rapidly gaining traction in China and Europe. For example, compared to the overall SUV market, the proportion of electric sports utility vehicles is higher in Europe.
Automotive E-Axle Market Component Segment Insights
Automotive E-Axle Component Insights
Based on component, the Automotive E-Axle Market segmentation includes Electric Motor, Inverter, Transmission and Others. The Electric Motor segment held the majority share in 2022, contributing around ~ 37.7% to the market revenue. on electric motors, the Automotive E-Axle Market has been further segmented into Electrically Excited Synchronous Motor (EESM), Interior Permanent Magnet (IPM) Motor, Induction Motors (ACIM), and Switched Reluctance Motor (SRM), BLDC (Brushless DC). The Electric Motor component of the Automotive E-Axle Market serves as the propulsion system, converting electrical energy from the vehicle's battery into mechanical power to drive the wheels. Electrically Excited Synchronous Motor (EESM) is a type of electric motor used in electric vehicles. It is an alternative machine principle to permanent magnet synchronous motors (PMSMs) and is becoming increasingly popular in electric vehicles. EESMs use a rotor that is excited by a DC current to generate a rotating magnetic field, which interacts with the stator's magnetic field to produce torque. The EESM is modelled in a DQ reference frame with the d-axis in the direction of rotor flux and the q-axis rectangular to the d-axis (quadrature component). EESMs are designed to provide an additional degree of freedom to control the motor, enabling high power density and efficiency.
Interior Permanent Magnet (IPM) Motor is a type of electric motor used in electric vehicles. It is a compact and efficient motor that uses permanent magnets embedded in the rotor to generate a rotating magnetic field, which interacts with the stator's magnetic field to produce torque. IPM motors are designed to provide high power density and efficiency, making them suitable for various vehicle applications.
Induction motors, also known as asynchronous motors, are another type of motor used in EVs. Induction motors have a stator and a rotor, but unlike DC motors, they do not have a commutator. Instead, they rely on electromagnetic induction to transfer power between the stator and rotor. Induction motors are efficient, reliable, and have a longer lifespan than DC motors. Induction motors are particularly well-suited for use in EVs because they have a high torque density which means they can generate a lot of torque even at low speeds. This makes them ideal for use in electric vehicles which require a lot of torque to get moving from a standstill. However, Induction motors are more expensive than DC motors and require more complex control systems as well.
Figure2: Automotive E-Axle Market, by Component, 2022 & 2035 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Automotive E-Axle Market Power Segment Insights:
Automotive E-Axle Power Insights
Based on Power, the Automotive E-Axle Market segmentation includes Up to 50 kW, 51-100 kW, 101-300 kW, 301-600 kW and 601 kW & above. The Up to 50 kW segment held the majority share in 2022 contributing around ~40.6% to the market revenue. E-Axle systems in this power segment have a power rating of up to 50 kilowatts (kW). This range is typically associated with smaller and lighter vehicles, such as city cars or compact urban mobility solutions. E-Axle systems falling within the 51-100 kW power range have a power rating between 51 and 100 kilowatts. This range is commonly associated with mid-sized vehicles and some smaller electric vehicles.
E-Axle systems in the 101-300 kW power range have a power rating between 101 and 300 kilowatts. This range is relevant for a broader spectrum of electric vehicles, including larger passenger cars and some medium-duty commercial vehicles. E-Axle systems falling within the 301-600 kW power range have a power rating between 301 and 600 kilowatts. This range is associated with high-performance electric vehicles, including premium and sports cars. E-Axle systems with a power rating of 601 kW and above belong to the high-power category, suitable for performance-oriented electric vehicles and certain specialty applications.
Automotive E-Axle Market Drive Type Segment Insights
Automotive E-Axle Drive Type Insights
Based on the Drive Type, the Automotive E-Axle Market segmentation includes Front-Wheel Drive, Rear-Wheel Drive and All-Wheel Drive. By Drive Type, Front-Wheel Drive segment hold the majority market share in 2022 contributing 55.4% of the market share. In a front-wheel drive configuration, the e-axle system delivers power to the front wheels of the vehicle. The electric motor is integrated into the front axle, providing the primary source of propulsion. In a rear-wheel drive configuration, the e-axle system is located at the rear axle, delivering power to the rear wheels of the vehicle. The electric motor powers the rear wheels for propulsion. All-wheel drive configurations involve e-axle systems that provide power to both the front and rear wheels simultaneously. This setup enhances traction and stability, especially in challenging driving conditions.
Automotive E-Axle Market Vehicle Propulsion Segment Insights
Automotive E-Axle Vehicle Propulsion Insights
Based on Vehicle Propulsion, the Automotive E-Axle Market segmentation includes BEVs, HEVs, PHEVs and FCEVs. By Vehicle Propulsion, BEVs segment hold the majority market share in 2022 contributing 69.5% of the market share. BEVs are electric vehicles that rely solely on electric power stored in a battery pack. They do not have an internal combustion engine (ICE) and operate entirely on electric propulsion. E-Axle systems for BEVs integrate an electric motor and necessary components to drive the vehicle without the need for a traditional engine.
HEVs combine an internal combustion engine (typically gasoline) with an electric motor. The electric motor assists the engine and can also operate independently at low speeds or during certain driving conditions. E-Axle systems for HEVs incorporate both an electric motor and components necessary for hybrid operation, allowing for seamless integration with the internal combustion engine. PHEVs have both an internal combustion engine and an electric motor, similar to HEVs. However, PHEVs have a larger battery pack that can be charged through an external power source, allowing for extended electric-only driving range. E-Axle systems for PHEVs include an electric motor and associated components to support both electric-only driving and hybrid operation.
Automotive E-Axle Market Vehicle Category Segment Insights
Automotive E-Axle Vehicle Category Insights
Based on Vehicle Category, the Automotive E-Axle Market segmentation includes Passenger Cars and Commercial Vehicles. By Vehicle Category, Passenger Cars segment hold the majority market share in 2022 contributing 81%% of the market share. E-Axle systems for passenger cars are designed to meet the specific requirements of these vehicles, considering factors such as size, weight, and performance characteristics that cater to the needs of individual or family transportation. E-Axle systems for passenger cars are often optimized for efficiency, compact design, and a balance between performance and range. The focus is on providing a satisfying driving experience for individual consumers or families.
E-Axle systems for commercial vehicles are designed to meet the unique demands of these applications. This includes considerations for heavier loads, different driving conditions, and the specific performance requirements of commercial operations. E-Axle systems for delivery trucks prioritizes torque and efficiency for urban stop-and-go driving. E-Axle systems for buses emphasize passenger comfort, longer range, and durability for frequent stop-and-start operations. E-Axle systems for commercial vans balance payload capacity, range, and versatility for various business needs
Automotive E-Axle Key Market Players & Competitive Insights
With a strong presence across different verticals and geographies, the Automotive E-Axle market is highly competitive and dominated by established, pure-play vendors. Over 20 vendors cater to this market, and they continually innovate their solutions to meet the evolving needs of businesses by adopting new technologies to make business more effective. These vendors have a robust geographic footprint and partner ecosystem to cater to diverse customer segments. The Automotive E-Axle market is highly competitive, with many vendors offering similar products and services.
The major players in the market include Dana Incorporated, GKN, Robert Bosch GmbH, Schaeffler AG, ZF Friedrichshafen AG, and others. Dana focuses on strategic collaborations and partnerships with automakers to jointly develop and integrate e-axle systems into a wide range of electric and hybrid vehicles. This approach ensures that Dana remains at the forefront of innovation and aligns its products with the evolving needs of the automotive industry. GKN emphasizes a comprehensive approach to e-axle solutions, integrating electric motors, inverters, and software components. The company's strategy involves continuous research and development to enhance the performance, efficiency, and reliability of its e-axle systems. GKN also prioritizes global expansion and forming alliances to strengthen its market presence. Bosch adopts a multifaceted strategy that involves investing in cutting-edge technology for electric mobility. The company focuses on the development of scalable and modular e-axle solutions to cater to different vehicle segments. Bosch's strategy also includes collaborations with automakers and suppliers to drive the widespread adoption of electric drivetrain solutions. Schaeffler places a strong emphasis on research and development, aiming to create highly efficient and compact e-axle systems. The company's strategy involves active participation in the entire value chain of electric mobility, from component manufacturing to system integration. Schaeffler also engages in strategic partnerships to leverage synergies and broaden its market reach. ZF focuses on developing integrated and modular e-axle solutions that can be easily adapted for various vehicle architectures. The company's strategy involves continuous innovation in power electronics and electric motor technology to enhance the overall efficiency of its e-axle systems. ZF also pursues partnerships and collaborations to address the diverse needs of the electric vehicle market globally.
The Automotive E-Axle Market is a consolidated market due to increasing competition, acquisitions, mergers, and other strategic market developments and decisions to improve operational effectiveness.
Key Companies in the Automotive E-Axle market include
Automotive E-Axle Industry Developments
- In June 2023, Musashi Auto Parts India Pvt. Ltd., a wholly owned subsidiary of Musashi Seimitsu Industries in Japan and a manufacturer of transmission components for two-wheelers and four-wheelers in India, announced its entry into the Indian electric mobility (E-mobility) market. Leveraging its robust design and engineering capabilities, Musashi aims to manufacture a comprehensive EV unit that includes the motor, power control unit (PCU), and gearbox. With a strong focus on producing high-performance and safe automotive components, Musashi will begin manufacturing its E-Axle at its Bengaluru plant starting in October 2023.
- In June 2023, Nidec Corporation and Renesas Electronics Corporation recently announced a collaborative partnership to develop semiconductor solutions for an advanced next-generation E-Axle system. This innovative X-in-1 system will integrate an electric vehicle (EV) drive motor and power electronics, further enhancing the performance and efficiency of electric vehicles.
Automotive E-Axle Market Segmentation
Automotive E-Axle Component Outlook
- Electric Motor
- Electrically Excited Synchronous Motor (EESM)
- Interior Permanent Magnet (IPM) Motor
- Induction Motors (ACIM)
- Switched Reluctance Motor (SRM)
- BLDC (Brushless DC)
Automotive E-Axle Power Outlook
- Up to 50 kW
- 51-100 kW
- 101-300 kW
- 301-600 kW
- 601 kW & Above
Automotive E-Axle Drive Type Outlook
Automotive E-Axle Vehicle Propulsion Outlook
Automotive E-Axle Vehicle Category Outlook
- Passenger Cars
- Commercial Vehicles
|USD 25,552.2 Million
|Market Size 2023
|USD 29,206.2 Million
|Market Size 2035
|USD 205,757.51 Million
|Compound Annual Growth Rate (CAGR)
|17.7 % (2023-2035)
|Market Forecast Period
|Market Forecast Units
|Value (USD Million)
|Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
|Component, power, Drive Type, Vehicle Propulsion, Vehicle Category
|Key Companies Profiled
|Dana Incorporated, GKN, Robert Bosch GmbH, Schaeffler AG, ZF Friedrichshafen AG, and other
|Key Market Opportunities
|· Growing demand for electric vehicles in developing countries · Development of new automotive e-axle technologies · Growing demand for automotive e-axles in commercial vehicles
|Key Market Dynamics
|· Increasing demand for electric vehicles · Advantages of automotive e-axles over traditional powertrains propelling its adoption among the OEMS
Frequently Asked Questions (FAQ) :
The Automotive E-Axle Market size is expected to be valued at USD 25,552.2 Million in 2022.
The global market is projected to grow at a CAGR of 17.7% during the forecast period, 2023-2035.
The key players in the market are Dana Incorporated, GKN, Robert Bosch GmbH, Schaeffler AG, ZF Friedrichshafen AG, and other.
The Electric Motor category dominated the market in 2022.
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