Electric Axle Drive System Market Report

The global electric axle drive system market is likely to benefit from the increasing demand for electric cars with greater efficiency levels, lower weight, and higher range. Rising fuel costs and increasing government efforts to reduce greenhouse gas emissions are expected to highlight the significance of electromobility, which could play a crucial role in the expansion of the global electric axle drive system market. Electric axle drive system manufacturers are launching new products promising enhanced driver safety and experience, compact packaging, efficient and power-dense performance, and cost savings.

Improving Adoption of Electric or Hybrid Electric Cars to Contribute to Global Demand

The gradual shift from gasoline vehicles to electric or hybrid electric vehicles is anticipated to positively impact the global electric axle drive system market. The rising demand for cost-efficient, structurally safe, and lightweight automotive systems offering the performance advantage could add to the growth of the global electric axle drive system market. High requirement for integrated, more advanced electric axle drive system is anticipated to create opportunities for global players in the near future.

Market Segments

By Position

●  Front

●  Rear

By Type

●  Hybrid Axle

●   Electric Axle

By Sales Channel

●  OEM

●   Aftermarket

By Vehicle Type

●   Passenger Car

●   Light Commercial Vehicle

●   Heavy Commercial Vehicle

With increasing focus on reducing vehicle emissions and high popularity of electromobility, the electric axle segment is anticipated to show remarkable growth in the coming years. Among vehicle types, heavy commercial vehicle (HCV) could gain impressive growth in the global electric axle drive system market. Increasing commercial vehicle electrification and falling battery costs are expected to help support the demand for electric axle drive system for commercial vehicles such as HCV.

By Region

North America and Europe are predicted to largely contribute to the growth of the global electric axle drive system market due to high adoption of electric vehicles. Strong presence of key electric vehicle and component manufacturers, stringent emissions regulations, and advancement of the automotive and parts industry could be among leading factors strengthening the demand for electric axle drive system in the developed regions.

Partnership with Electric Vehicle Companies to Help Players Increase Profits

Some of the leading players competing in the global electric axle drive system market are American Axle & Manufacturing, Inc., UQM Technologies, GKN plc, Ziehl Abegg SE, Robert Bosch, Continental AG, Schaeffler Technologies AG & Co. KG, Magna International Inc., Bonfiglioli Riduttori S.P.A., ZF Friedrichshafen AG, BorgWarner Inc., and Axle Tech International. Electric axle drive system manufacturers are expected to partner with automobile companies to improve their market growth. Early in 2020, Kenworth and Dana collaborated on electric truck powertrain development.

The automotive industry has undergone myriad changes over the past century. It has stirred a revolution, setting in motion trends that have completely transformed the transportation industry. Digitalization has drastically helped business models evolve by leaps and bounds. Major developments in the emerging economies have provided the automotive and transportation industry is a massive boost in recent years.

Increasing investments in automobile manufacturing, especially in the developing countries, strengthening trade and business opportunities, and growing e-commerce has all made its contribution towards shaping the automotive and transportation industry. Our reports take a detailed look at the various factors driving this industry and assess the lucrative opportunities for the players in the near future. The reports discuss the future of artificial intelligence, Internet of Things, vehicle-to-vehicle communication, and autonomous vehicles with utmost objectivity. The next-generation technological advancements and changing outlooks of the players have been studied with unbiased scrutiny for a clear picture of the trajectory of the industry.