Electric Axle Drive Systems Market Is Expected To Reach USD 8,226.3 Million By 2023

Electric Axle Drive Systems Market Research Report – Global Forecast 2023
Global Electric Axle Drive Systems Market Information Report, By System Type (Electric Systems, Hybrid Electric Systems), By Vehicle Type (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles), and By Region – Global Forecast To 2023

Market Highlights:

Global automakers are increasingly introducing the electric cars to tackle the vehicle emission problems and reduce pollution. This has resulted in electric cars being increasingly affordable and commercially competitive with the conventional gasoline cars. One of the major drawbacks of the electric cars is the complexity of its drive and power train systems. The manufacturing of the individual components of these systems is highly costly and requires more time to test and implement the technology.

To overcome this disadvantage, in today’s electric car operations, the electric axle drives are increasingly used which are cheaper and much more efficient. This is primarily due to the fact that electric axles integrate the transmission, the e-machine and the power electronics in a single module. The performance of these electric axle drive systems can be scaled up to match for usage in the compact cars as well as in sports car and commercial vehicles. The electric axle systems are directly mounted on the axle which also saves space for engines and transmissions.

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Key Players of Electric Axle Drive Systems Market:

  • 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.)
  • Ziehl Abegg SE (Germany)

Market Research Analysis:

The Asia Pacific region is expected to dominate the electrical axle drive systems market owing to increased electric car sales in countries such as China, Japan, South Korea and India. Many countries in the region are rapidly adopting to the introduction of electric cars as they are less polluting and has reduced environmental impact. This further enables them to tackle pollution emission problems and are further motivated by the generous tax systems for electric cars. The North America and Europe region closely follow the Asia Pacific region in the adaptation of electric cars. The electric cars are increasingly becoming cheaper in these regions and are on par with the conventional gasoline vehicles for performance and range.

Scope of the Report:

This study provides an overview of the global electric axle drive systems market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global electric axle drive systems market by system type, by vehicle type and by regions.

By System Type

  • Electric Systems
  • Hybrid Electric Systems

By Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

By Regions

  • North America 
  • Asia Pacific 
  • Europe
  • Rest of the World  

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