ID: MRFR/AM/2750-CR | October 2020 | Region: Global | 191 pages
The market for electric axle drives systems market trend is anticipated to reach USD 8,226.3 million by 2023, growing at a CAGR of 12.31% throughout that time.
In the event of a collision, electric axle drive systems are utilized to safeguard the passenger. In electric and plug-in hybrid electric cars, electric axle drive systems are commonly used. To supply power to the wheels, they are equipped with several electric motors on each axle. On regular roads, the installation of an electric axle drive system improves stability and gives improved driving dynamics.
Electric Axle Drive Systems are electric and hybrid electric vehicle drive systems. These systems are designed for vehicles of various types and sizes, as well as front and rear-wheel drive. Electric Axle Drive Systems provide a great deal of versatility and adaptability to different engines and gearboxes. Several drive components are used in the electric axle drives, increasing vehicle safety and allowing for smoother driving. Because of the rising demand for electric vehicles and the need to minimize carbon emissions from vehicle operations, leading automakers across the world are progressively speeding up the manufacturing of electric vehicles. Electric axle drive systems are seen as the way ahead for future mobility options for electric cars. The capacity of manufacturers to develop and adapt electric drive systems depending on individual vehicle requirements, such as for passenger cars and commercial vehicles, is another key industry driver.
This study covers the whole electric axle drive systems market growth, including its strengths and weaknesses. The research also includes a summary of the market’s dynamics, segmentation, major players, geographical analysis, and other significant variables. The study also includes a thorough analysis of the electric axle drive systems market outlook and forecast for 2027.
Covid 19 Analysis
Global Electric Axle Drive System Market Development Strategy Pre and Post COVID-19, by Corporate Strategy Analysis, Landscape, Type, Application, and Leading 20 Countries examines and assesses the global Electric Axle Drive System industry’s potential, providing statistical data on market dynamics, growth factors, major challenges, PEST analysis, and market entry strategy analysis, among other things. The report’s main focus is on providing firms in the sector with a strategic analysis of COVID-19’s impact. Simultaneously, this study examined the market of the top 20 nations and introduced their market potential.
The different market tactics used by major businesses give a five-year projection based on how the Electric Axle Drive Systems market is expected to expand. It puts you ahead of the competition by providing intelligent analyses of shifting competitive dynamics. To have a better understanding of the Electric Axle Drive Systems market’s future potential and prospects. Market forecasts for electric axle drive systems by area, type, and application, as well as sales and revenue, from 2021 to 2022. The study highlights the market share of electric axle drive systems, distributors, main suppliers, changing price patterns, and the raw material supply chain.
Electric Axle Drive Systems Market Top Players
Electric Axle Drive Systems offer a wide range of engine and gearbox compatibility. The electric axle drives employ a variety of drive components to improve vehicle safety and smooth out the ride. The ability of electric drive systems to integrate wheel hubs and all needed components for drive, such as propulsion and deceleration, as well as driving safety, into a single unit is the primary market driver.
The major companies in the market are increasingly focused on electric vehicles and have begun to provide an EV range for models such as hatchbacks, superminis, sedans, big family cars, vans, and others. As a result of all of these causes, demand for electric axle drive systems has grown, and OEMs are focusing more on expanding output. The need for electric axle drive systems will, however, immediately increase as the number of electric vehicles grows.
The global Electric Axle Drive Systems market research study includes instances of various market business strategies and development activities that industry players are embracing to overcome economic problems and close the demand-supply gap. The report also includes the top competitors’ major strategic developments in the market, such as new product launches, R&D, agreements, M&A, partnerships, collaborations, regional expansion, and joint ventures, on a regional and worldwide scale.
Cumulative Growth Analysis
Due to increasing demand from nations such as China, India, Korea, Malaysia, and Vietnam, Asia Pacific is the fastest developing area for electric axle drive systems. In 2016, the Asia Pacific area had a combined population of over 4.5 billion people and a GDP of over USD 22 trillion. The Asia Pacific is the market leader in electric axle drive systems, accounting for more than 40% of worldwide demand. In the Asia Pacific, China has positioned itself as the main market for electric cars in the Asia-Pacific area. In terms of market development, China sold more than 507,000 electric and plug-in hybrid electric vehicles in 2016, a 53% increase over 2015. The United States and Europe came in second and third, respectively. Automobile manufacturers raise the price of the system due to rising raw material costs.
Value Chain Analysis
Market Research Future’s report on the global electric axle drive systems market industry includesthorough primary research as well as rigorous qualitative and quantitative analysis by various industry professionals and key opinion leaders to obtain a better understanding of the market and industry performance. The report depicts the current market environment in detail, including historical and forecast market size in terms of value and volume, technical advancements, macroeconomic variables, and market regulating factors. The study includes detailed information and plans for the industry’s top important players. The research also provides an overview of the various market categories and geographies.
The evaluation of its various parts is highlighted in the study report. It also examines the worldwide Electric Axle Drive System market’s major topographies. The market research report also examines each segment of the worldwide Electric Axle Drive System market, as well as its sub-segments.
This in-depth analysis depicts current market growth and trends, major factors driving market expansion, market predictions, drivers, limitations, and market structure. Furthermore, the worldwide Electric Axle Drive System market research delves into the key product categories and segments Hybrid Electric Systems, Electric Systems, and their sub-segments Light Commercial Vehicles, Heavy Commercial Vehicles, and Passenger Cars.
The research focuses on the world’s most powerful market players. It also gives the user crucial information including sales, contact information, product specs and images, and market share.
Due to growing electric car sales in countries such as China, Japan, South Korea, and India, the Asia Pacific region is projected to dominate the electric axle drive systems market size. Electric automobiles are less polluting and have a lower environmental effect, thus several nations in the area are quickly embracing them. This helps them to address environmental issues, and the attractive tax regimes for electric vehicles push them even more. North America and Europe are closely following the Asia Pacific area in terms of electric vehicle adoption.
The following report comprises of –
The market for electric axle drive systems is examined, as well as the marketing channels. Finally, the viability of new investment projects is evaluated, and the study findings are presented. The Electric Axle Drive Systems Market Report also includes market share and production growth for each product in the Electric Axle Drive Systems market.
Electric Axle Drive Systems Market Segments
Electric Axle Drive Systems Market by System Type
Electric Axle Drive Systems Market by Vehicle Type
Electric Axle Drive Systems Market by Region
|Market Size||2028: USD 14.35 Billion|
|CAGR||13.87% CAGR (2021-2028)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||System Type, Vehicle Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Robert Bosch GmbH (Germany), American Axle & Manufacturing Holdings, Inc.(U.S.), ZF Friedrichshafen AG (Germany), GKN Plc (U.K.), Magna International Inc. (Canada), Schaeffler Technologies AG & Co. KG (Germany), Continental AG (Germany), Bonfiglioli Riduttori S.P.A. (Italy), Borgwarner Inc. (U.S.) and Ziehl Abegg SE (Germany).|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||Rising in the number of electric vehicles|
Frequently Asked Questions (FAQ) :
Electric Axle Drive Systems Market size is projected to be worth USD 14.35 Billion by 2028
The global electric axle drive systems market is maturing at a whopping 13.87% CAGR over the review period of 2017 to 2023.
A few significant players of the global electric axle drive systems market are American Axle & Manufacturing Holdings, Inc.(U.S.), Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), among others.
The electric systems segment is likely to witness the highest demand in the electric axle drive systems market.
The North American region is projected to witness the highest growth.
The HVC segment is slated to witness higher growth over the assessment period.
The rise in the number of electric vehicles is the primary driving factor of the global electric axle drive systems market.