Global Automotive Electric Drive Axle Market: Snapshot

Automotive electric drive axle is an advancement to the conventional axle that is used to transmit power generated by the electric motor to the driving wheels. The electric drive axle uses an electric motor as its power source unlike the conventional internal combustion engine and the market for the same is flourishing on the back of increased emphasis on reducing pollution. According to this business intelligence report, the demand in the global automotive electric drive axle market will expand at a phenomenal CAGR of 36.84% during the forecast period of 2017 to 2025. The analysts of the report have estimated that the opportunities in the global automotive electric drive axle market will translate into a revenue of US$6.35 bn in 2025, substantially up from its evaluated worth of merely US$0.4 bn in 2016.

Government mandates for vehicle electrification, necessity to curb the emission of greenhouse gases, minimal running charge, and paradigm shift in mindset of people to purchase electric vehicles as their contribution to the environment are some of the key factors driving the demand in the global automotive electric drive axle market. On the other hand, higher cost of technology that is currently being harnessed is obstructing the market from flourishing. Nevertheless, the vendors of this market are expected to gain new opportunities from strong research and development activities that are currently underway by nearly every major player of the automotive industry.

Demand for Hybrid Axle Primed to Expand Quickly in the Near Future

Based on system, the automotive electric drive axle market is segmented into electric axle and hybrid axle. The electric axle runs purely on the power generated by the electric motor and is thus employed in all the battery electric vehicles. The significant emphasis of the government on adoption of electric vehicles is estimated to increase the demand of electric axles. As the preference of people to switch to hybrid vehicles is increasing to achieve fuel savings, the market share of hybrid axle is projected to grow at a higher CAGR during the forecast period of the report. Based on end user the automotive electric drive axle market is bifurcated into original equipment manufacturers (OEMs) and aftermarket. The electric axle has a major end user as OEM. However, the aftermarket segment is projected to increase quickly too with the rise in maintenance demands.

Passenger Vehicle Segment Showing Great Promise in China

In terms of vehicle type, the automotive electric drive axle market is classified into passenger electric vehicles and commercial electric vehicles. The passenger electric vehicles include battery operated electric vehicle, plug-in hybrid vehicle, and hybrid vehicle. The commercial electric vehicles include busses and coaches. Among these, the passenger electric vehicle segment accounts for the largest market share and their demand is likely to increase with rise in incentive scheme, tax credits, and perks passed by the government. The import – export trade policies has led to the development of transport and logistics and thereby boosting the commercial vehicle sectors of China, India. China is the largest market for electric bus with about 98% of total global electric bus manufactured in China. Cities like Shenzhen has adopted all electric bus fleet and the government has planned to implement same policy for other cities thus raising the demand for electric axle.

Asia Pacific Followed by Europe as Most Lucrative Regions

The presence of countries such as China, Japan, and South Korea has turned Asia-Pacific into the most important region in terms of market share. Chinese government has passed a policy for auto-makers to manufacture minimum 10% of its vehicle as electric starting 2019 thus increasing the demand for electric axles. The demand in the Asia Pacific automotive electric drive axle market is projected to expand at a CAGR of 46.90% during the forecast period of 2017 to 2025. Europe provides for the second major share of demand in the electric axle market with, auto hub countries like Germany, France, and Italy increasing the production capacity of electric vehicles. North America is following up in the race of electric vehicles too, with presence of major electric vehicles players such as Tesla.

American Axle & Manufacturing, Inc, ZF Friedrichshafen AG, GKN plc, Continental AG, Ziehl – Abegg, Bonfiglioli Riduttori S.P.A, Magna International Inc, F P W Axles Ltd,Benevelli SRL, and Axletech International are some of the key players in the global automotive electric drive axle market.

Global Automotive Electric Drive Axle Market: Overview

This report analyzes and forecasts the market for automotive electric axle drive at the global and regional level. The market has been forecast based on revenue (US$ Mn) and volume (Units Mn) from 2017 to 2025. The study includes drivers and restraints of the global automotive electric drive axle market. It also covers the impact of these drivers and restraints on demand for automotive electric drive axle during the forecast period. The report also highlights opportunities in the automotive electric axle drive market at the global and regional level.

The report comprises a detailed value chain analysis, which provides a comprehensive view of the global automotive electric drive axle market. Porter’s Five Forces model for the automotive electric drive axle market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, where in end-users are benchmarked based on their market size, growth rate, and general attractiveness.

Global Automotive Electric Drive Axle Market: Segmentations

The study provides a decisive view of the global automotive electric drive axle market by segmenting it in terms of system type, end-users, vehicle type, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for automotive electric drive axle in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for individual application segments in all the regions.

Global Automotive Electric Drive Axle Market: Competitive Landscape

The study includes profiles of major companies operating in the global automotive electric drive axle market. Key players in the automotive Electric drive axle market include Continental AG, GKN plc, Magna International Inc., ZF Friedrichshafen AG, American Axle & Manufacturing Inc., BONFIGLIOLI RIDUTTORI S.P.A., ZIEHL-ABEGG, BENEVELLI SRL, F P W Axles Ltd., AXLETECH INTERNATIONAL. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, recent developments, and SWOT analysis. The market for automotive electric drive axle is primarily driven by rising demand for non-polluting alternative.

Global Automotive Electric Drive Axle Market: Key Research Methodologies

The report provides the estimated market size of automotive electric drive axle for 2016 and forecast for the next nine years. The global market size of automotive electric drive axle has been provided in terms of revenue and volume. Market numbers have been estimated based on key system type, end-users, vehicle type, and regional segments of automotive electric drive axle market. Market size and forecast for each major system type, end users, and vehicle type have been provided in terms of global and regional/country markets.

In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.

Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports, American Automobile Association, European Automobile Manufacturers Association, Automotive Research Association of India, Organisation Internationale des Constructeurs d'Automobile (OICA), Factiva, etc.

Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.

The automotive electric drive axle market has been segmented as follows:

Global Automotive Electric Drive Axle Market: By System Type

  • Electric Axle
  • Hybrid Axle

Global Automotive Electric Drive Axle Market: By End-User

  • OEM
  • Aftermarket

Global Automotive Electric Drive Axle Market: By Vehicle Type

  • Passenger Vehicle
    • Battery Electric Vehicle
    • Plug in Hybrid Vehicle
    • Hybrid Vehicle
  • Commercial Vehicle
    • Buses & Coaches

Global Automotive Electric Drive Axle Market: By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Europe
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East and Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America