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Global Electric Axle Drive and Wheel Drive Market – Industry Trends and Forecast to 2030

Semiconductors and Electronics

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Global Electric Axle Drive and Wheel Drive Market – Industry Trends and Forecast to 2030

  • Semiconductors and Electronics
  • Upcoming Report
  • Mar 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Electric Axle Drive and Wheel Drive Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 6.30 Billion
Diagram Market Size (Forecast Year) USD 15.37 Billion
Diagram CAGR %

Global Electric Axle Drive and Wheel Drive Market, Motor Type (Permanent Magnet AC Motor, Brushless DC Motor, Others), Drive Type (Fully Electric, Hybrid, Others), Vehicle Type (Pure Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle), Component Type (Combination motor, Power electronics, Transmission, Others), End User (Passenger Vehicles, Commercial Vehicles, Other Vehicles) – Industry Trends and Forecast to 2030.

Electric Axle Drive and Wheel Drive Market

Electric Axle Drive and Wheel Drive Market Analysis and Size

The demand and public awareness of the need for environmentally friendly practices and electric vehicles are rising. The government is introducing several subsidies and benefits to promote such vehicles. This will assist in lowering CO2 emissions. Looking at the gradual shift in the adoption of electric vehicles, especially in the commercial and industrial sectors, people are now switching to e-vehicles that support the green environmental concept. With the increasing adoption of automated guided vehicles and mobile electric material handling vehicles, the market is expected to grow.

Data Bridge Market Research analyses that the electric axle drive and wheel drive market, valued at USD 6.3 billion in 2022, will reach USD 15.37 billion by 2030, growing at a CAGR of 11.80% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Electric Axle Drive and Wheel Drive Market Scope and Segmentation  

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Motor Type (Permanent Magnet AC Motor, Brushless DC Motor, Others), Drive Type (Fully Electric, Hybrid, Others), Vehicle Type (Pure Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle), Component Type (Combination motor, Power electronics, Transmission, Others), End User (Passenger Vehicles, Commercial Vehicles, Other Vehicles)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

ZF Friedrichshafen AG (Germany), ZIEHL-ABEGG SE (Germany), Robert Bosch GmbH (Germany), Magna International Inc. (Canada), GKN Automotive Limited (U.K.), Continental AG (Germany), Dana Limited (U.S.), American Axle & Manufacturing, Inc. (U.S.), Schaeffler AG (Germany), BorgWarner Inc. (U.S.), Bonfiglioli Transmissions Private Limited (India)

Market Opportunities

  • Rising demand for e-axles and awareness about environmental and health consciousness surge the market growth

Market Definition

In battery electric vehicles (BEVs), an electric axle (e-axle) is an electro-mechanical propulsion system built into the axle structure that provides power to turn the wheels. It has bearings, shafts, pinions, and gearing components and is made of lightweight, high-strength metal such as aluminum. It reduces complexity and enables customization of power, torque, and installation space to meet the needs of end users by integrating power electronics, electric motors, and transmission into a single compact system. Automotive original equipment manufacturers (OEMs) rely on e-axle solutions to maximize a vehicle's internal volume for extra passenger space, battery capacity, and other features.

Electric Axle Drive and Wheel Drive Market Dynamics

Drivers

  • Government initiatives and subsidies drive the market growth

Globally, governments are encouraging the use of electric vehicles through various programs and subsidies. For instance, a subsidy of up to $9,000 is available in China to purchase an electric vehicle. This is fuelling the market for electric axle drive and wheel drive during the anticipated period. Governing bodies in many countries are banning the sale of passenger cars that run on fossil fuels to reduce vehicle-based carbon dioxide (CO2) emissions.

Opportunities

  • Rising demand for e-axles and awareness about environmental and health consciousness surge the market growth

Raising public awareness of the negative effects of fossil fuel-powered vehicles on human health and the environment. E-axles are more in demand globally because they enhance energy efficiency and NVH (noise, vibration, and harshness) performance. Additionally, they enable high-performance scalability for a range of applications for various vehicle designs. The demand for EVs has increased significantly due to the need to supply future energy demands. The need for environmentally friendly transportation greatly impacts the demand for electric cars. The EV market, which offers a way to increase energy efficiency while reducing pollution and other greenhouse gas emissions, is quickly growing to be a significant portion of the automotive industry. Like electric vehicle sales, electric drive axles are anticipated to increase.

Restraints/Challenges

  • High prices for electric axle drives and wheel drives may restrain market expansion

The high cost of goods, ongoing technological advancements, and fierce competition will impact the market for electric axle drives. It is anticipated that the market will experience a decline in activity in the near future.

  • A lack of charging stations may hamper the growth

A robust charging infrastructure is required for EVs and PHEVs (plug-in electric vehicles) to be widely accepted. As charging outlet infrastructure is only entirely developed in developed nations such as the United States, a lack of charging stations in developing and underdeveloped economies could impede growth.

This electric axle drive and wheel drive market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the electric axle drive and wheel drive market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

  • In 2021, the manufacturing of Schaeffer's 2 in 1 electric axle began at its TAICANG, CHINA facility. A significant European auto manufacturer also used this e-axle after it was adopted in China.
  • In 2018, Dana Incorporated in China established a manufacturing facility for electric axle drives to serve the needs of trucks and buses used for commercial purposes.

Global Electric Axle Drive and Wheel Drive Market Scope

The electric axle drive and wheel drive market is segmented on the basis of motor type, drive type, vehicle type, component type, and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Motor Type

  • Permanent Magnet AC Motor
  • Brushless DC Motor
  • Others

Drive Type

  • Fully Electric
  • Hybrid
  • Others
  • Forward wheel drive
  • Rear wheel drive
  • All-wheel

Vehicle Type

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

Component type

  • Combination Motor
  • Power Electronics
  • Transmission
  • Others

End User

  • Passenger Vehicles
  • Commercial Vehicles
  • Other Vehicles
  • ICE vehicle

Diving Compressor Regional Analysis/Insights

The electric axle drive and wheel drive market is analysed and market size insights and trends are provided by country, motor type, drive type, vehicle type, and end user as referenced above.

The countries covered in the electric axle drive and wheel drive market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the market and will continue to flourish its trend of dominance during the forecast period. The major factors attributable to the region's dominance are constant initiatives to tackle the issue of environmental pollution, which has resulted in the high adoption rate of electric vehicles. In addition, global electric vehicle manufacturers are setting up their plants in China to meet the growing demand for electric vehicles.

North America will undergo the highest growth rate during the forecast period owing to stronger EV developments and EV models that continue to increase in the U.S.. Further, government initiatives to revise tax credit programs at the federal level to encourage zero-emission vehicle adoption and support domestic manufacturers will also bolster the region's growth.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Electric Axle Drive and Wheel Drive Market Share Analysis

The electric axle drive and wheel drive market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to electric axle drive and wheel drive market.

Some of the major players operating in the electric axle drive and wheel drive market are:

  • ZF Friedrichshafen AG (Germany)
  • ZIEHL-ABEGG SE (Germany)
  • Robert Bosch GmbH (Germany)
  • Magna International Inc. (Canada)
  • GKN Automotive Limited (U.K.)
  • Continental AG (Germany)
  • Dana Limited (U.S.)
  • American Axle & Manufacturing, Inc. (U.S.)
  • Schaeffler AG (Germany)
  • BorgWarner Inc. (U.S.)
  • Bonfiglioli Transmissions Private Limited (India)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The Electric Axle Drive and Wheel Drive Market is projected to grow at a CAGR of 11.80% during the forecast period by 2030.
The future market value of the Electric Axle Drive and Wheel Drive Market is expected to reach USD 15.37 billion by 2030.
The major players in the Electric Axle Drive and Wheel Drive Market are ZF Friedrichshafen AG (Germany), ZIEHL-ABEGG SE (Germany), Robert Bosch GmbH (Germany), Magna International Inc. (Canada), GKN Automotive Limited (U.K.), Continental AG (Germany), Dana Limited (U.S.), etc.
The countries covered in the Electric Axle Drive and Wheel Drive Market are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, etc.
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