The global automotive e-axle market size was accounted for USD 6,405.1 billion in 2018. It is projected to grow at a CAGR of 23.7% over the forecast period, 2019 to 2025. Growing demand for e-axle in light commercial vehiclesis expected to proliferate the market growth. In addition, increasing spending on R & D activities and rising need for automotive e-axle in heavy vehicles is supporting the market growth. Improved design in e-axle has opened up space for batteries, which enhances vehicle efficiency for long distances.
Furthermore, high demand for cost-effective, structurally safe, and lightweight chassis has encouraged manufacturers to produce advanced products. For example, AxleTech has introduced integrated e-axles with smaller packaging. These e-axles are suitable for heavy-duty and medium dutycommercial trucks.
Technologicaldevelopments have opened up growth opportunities for manufacturers. Additionally, refinement in average driving ranges is projected to have a positive impact on market growth. Moreover, supportive government policies and regulations are surging the demand for electric vehicles. European Union has proposed a plan to roll out zero-emission vehicle (ZEV) in the market by 2030. These initiatives are anticipated to boost the market growth.
In 2018, front application in passenger car e-axle led the market with highest share in the overall market. This segment is projected to attain the value of USD 14,219.6 million by the end of 2025 and expected to grow at a CAGR of around 26.3% during the forecasted period. Rear e-axle type segment is estimated to grow at significant rate owing to technological advancement.
Rising application of e-axle in heavy duty commercial vehicle is contributing to market growth. In Addition, the manufacturers are investing in R & D activities to produce new products to complement the growth of electric vehicles. This factoris anticipated to increase the demand for automotive e-axle in the coming few years.
In 2018, Asia Pacific passenger car e-axle market accounted for over USD 3,160.1 million in the overall market. Rapid industrial development across countries such as China, South Korea, and India is boosting the growth of the market. European market has increased the investmentonelectric vehicles, due to which the region has witnessedreduction in adoption of conventional vehicles.
Government authorities in European Union promotes the application of zero-emission EVs. In the U.S., changing consumer preference to compact electric vehicles from large SUVs is expected to positively impact the growth of automotive e-axle market. These key initiatives are projected to foster the demand for automotive electric axles.
COVID-19 pandemic has adversely impacted the global commercial vehicle market, as the global sales have witnessed decline in their sales by 26 to 30.0% during the first quarter of 2020. Supply chain disruption, and lockdown restriction have interrupted the production of automotive components such as E-axle and others. Thus, OEMs are finding it challenging to manage the stock levels of finished vehicle.
Technology upgradations, and stage VI emission standard are expected to bolster the growth of vehicle manufacturing in the forecast period, especially in China, and India. This factor is projected to positively impact themarket growth.
Leading players in the market include Melrose Industries, Schaeffler AG, Robert Bosch GmbH, Magna International Inc., and Dana Incorporated.Key players in the market invest heavy on technological advancement, such as e-axle technologyto meet consumer demand.
Major players engage in strategic investment to expand their reach across the globe. The market is dominated by companies like Robert Bosch, and Dana Incorporated.Key players in the market include,Dana Incorporated, Robert Bosch GmbH, Melrose Industries PLC, Schaeffler AG and Magna International Inc. among others.
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Attribute |
Details |
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Market size value in 2020 |
USD 9,020.1 million |
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Revenue forecast in 2025 |
USD 27,188.9 million |
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Growth Rate |
CAGR of 23.7% from 2019 to 2025 |
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Base year for estimation |
2018 |
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Actual estimates/Historical data |
2015 - 2017 |
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Forecast period |
2019 - 2025 |
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Quantitative Units |
Revenue in USD Thousands, & CAGR from 2019 to 2025 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors and trends |
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Segments covered |
Application, region |
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Regional scope |
North America, Europe, Asia Pacific, Rest of the World. |
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Country scope |
U.S., Canada, Germany, U.K., France, China, Japan, India, South Korea. |
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Key companies profiled |
Dana Incorporated; Melrose Industries PLC; Robert Bosch GmbH; Schaeffler AG; Magna International Inc. |
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15% free customization scope (equivalent to 5 analyst working days) |
If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
This report forecasts revenue growth at global, regional,and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global automotive e-axle market report based on vehicle type, namely passenger car segment and commercial vehicle segment. The passenger car e-axle segment has further been segmented based on application and region, whereas the commercial vehicle e-axle segment has been sub-segmented based on region:
• Passenger Car E-Axle Application Outlook (Revenue, USD Thousand; 2015 - 2025)
• Front
• Rear
• Passenger Car E-Axle Regional Outlook (Revenue, USD Thousand; 2015 - 2025)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Asia Pacific
• China
• India
• Japan
• South Korea
• RoW
• Commercial Vehicle E-Axle Regional Outlook (Revenue, USD Thousand; 2015 - 2025)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Asia Pacific
• China
• India
• Japan
• South Korea
• RoW
Research Support Specialist, USA