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Electric Vehicle E-Axle Market Size

  • Report ID: GMI6908
  • Published Date: Oct 2023
  • Report Format: PDF

Electric Vehicle E-Axle Market Size

Electric Vehicle E-Axle Market was valued at USD 36.4 billion in 2022 and is anticipated to register a CAGR of over 17% between 2023 and 2032. The rising adoption of Electric Vehicles (EVs) is a key factor propelling the business growth. As more consumers & businesses switch to EVs to reduce emissions and embrace sustainable drive, the demand for efficient, integrated e-axle systems will increase. E-axles contribute to enhanced EV performance, energy efficiency, and simplified design. This growing EV market adoption vehicles the need for advanced e-axle technologies, fostering innovations and market expansion in the electric vehicle sector.

 

Electric Vehicle E-Axle Market

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Growing environmental concerns including air pollution & climate change are compelling governments and consumers alike to support Electric Vehicles (EVs). Stricter emission regulations and incentives from governments are encouraging the transition. Additionally, consumers are increasingly becoming aware of the environmental impacts of traditional cars, thereby favouring EVs due to their eco-friendly nature. As a result, the demand for components such as e-axles, integral to EV propulsion systems, is on the rise, driving the collective push toward a greener automotive industry.

 

The production cost of electric vehicle e-axle systems is a significant market challenge. The advanced technology and precision engineering involved often result in higher manufacturing expenses. This cost burden, if not mitigated, can lead to expensive EV models, limiting their affordability and competitiveness against traditional internal combustion vehicles. As consumers often make purchasing decisions based on upfront costs, the relatively high production cost of e-axles poses a barrier to the widespread adoption of electric vehicles, hampering the market growth.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of electric vehicle e-axle was worth USD 36.4 billion in 2022 and is anticipated to observe over 17% CAGR between 2023 and 2032.

The hybrid segment held major market share in 2022. The adoption of hybrid propulsion systems in the electric vehicle e-axle market is primarily driven by their ability to significantly enhance vehicle efficiency and extend driving range.

Asia Pacific EV e-axle market was valued at USD 16.6 billion in 2022 and is anticipated to grow through 2032, owing to the increasing production of e-axles for passenger vehicles in the region.

BorgWarner Inc., Continental AG, Dana Incorporated, Nidec Corporation, Robert Bosch GmbH, Siemens, and ZF Friedrichshafen.

Electric Vehicle E-Axle Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 359
  • Countries covered: 21
  • Pages: 300
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