E-Drive Axle Gear Shifting Actuator Market - Overview
E-drive is the transmission system for electric vehicles, which is likely to comprise single or multi-stage gear train for variation of vehicle speed and torque. In case of multi-speed gear train, an actuator is required for shifting the gears. Multi-speed gear train is not necessarily a part of the electric vehicle. Several manufacturers prefer to have single-speed gear train, which reduces the overall expense and number of components in the vehicle. Variation in the speed and torque, with regard to situation and workload, effectively enhances the vehicle performance, efficiency, and overall life of the components. Thus, the multi-speed gear box is being incorporated by manufacturers in electric vehicles.
E-Drive Axle Gear Shifting Actuator Market- Drivers and Restraints
Stringent emission norms implemented by governing bodies in order to limit the emission occurring through vehicles, increasing fuel prices, raised awareness about global warming and its impact on human health and nature, decreasing electric vehicle prices coupled with increased capabilities of electric vehicles, subsidies and incentives provided by the governing bodies, and rapidly developing electric vehicle charging infrastructure are fueling the demand for electric vehicles across the globe. This, in turn, is fueling the demand for e-drive axle gear shifting actuator. Increasing global warming is prompting governing bodies to limit the emission level. In November 2016, 195 nations across the global signed an agreement to limit the global temperature rise well below 2 degree Celsius. The agreement is known as Paris Climate Accord. Governing bodies of several nations have implemented a ban on the use of major emission producing sources in order to comply with the accord. Government of several nations, such as Germany, India, China, France, and Brazil have announced a ban on the usage of diesel powered vehicles, which is driving the demand for electric vehicles across these countries. Surge in demand for electric vehicles is propelling the e-drive axle shifting market across the globe.
Lack of availability of charging infrastructure and higher prices of electric vehicles are primarily restraining the global e-drive axle gear shifting actuator market. Higher prices of the battery and other components makes the electric vehicle expensive. Considerably higher cost of electric vehicles, despite heavy incentives from governments, is limiting the adoption of electric vehicles across mid per capita income countries, which in turn is restraining the global e-drive axle gear shifting actuator market.
E-Drive Axle Gear Shifting Actuator Market - Segmentation
The global e-drive axle gear shifting actuator market can be segmented based on electric vehicle type, vehicle type, and geography. In terms of electric vehicle type, the global e-drive axle gear shifting actuator market can be classified into two segments. Demand for battery electric vehicles is rising in countries such as China, Japan, the U.S., and countries in Europe, which is anticipated to boost the battery electric vehicle segment to account for a dominant share of the global e-drive axle gear shifting market during the forecast period.
In terms of vehicle type, the global e-drive axle gear shifting actuator market can divided into two primary segments. Availability of several passenger electric vehicle models, their lower cost and subsidies from governments and manufacturers, and consumer preference have fuelled the demand for passenger electric vehicles. Thus, the segment accounted for a major share of the market, in terms of revenue, in 2017. Several electric vehicle manufacturers, such as Tesla, have introduced new electric commercial vehicles. Moreover, the Government of China has adopted electric buses for public transportation and the demand for electric busses is rising consistently. Consequently, the commercial vehicle segment of the market is anticipated to expand at a significant pace during the forecast period.
In terms of region, the global e-drive axle gear shifting actuator market can be segmented into five prominent regions. Governments of several nations across Europe have provided heavy incentives and subsidies for consumers of electric vehicles. Thus, demand for electric vehicles is increasing considerably across Europe. Rapidly developing electric vehicle charging infrastructure and rising awareness among consumers coupled with stringent emission norms and expected bans to be implemented by governing bodies are primarily driving the electric vehicle market in Europe. Therefore, the region accounted for a major share of the market, in terms of revenue, in 2017. Asia Pacific is a potentially lucrative market for electric vehicles. The region comprises rapidly expanding economies such as India and China. Increasing per capita income across Asia Pacific, government support for electric vehicles, expected ban on usage of fuel powered vehicles in order to limit the increasing pollution level, and developing charging infrastructure are likely to fuel the demand for electric vehicles in Asia Pacific, which in turn is expected to propel the e-drive axle gear shifting actuator market in the region.
E-Drive Axle Gear Shifting Actuator Market - Key Players
Key players operating in the global e-drive axle gear shifting actuator market are Robert Bosch GmbH, Schaeffler AG, ZF Friedrichshafen AG, Continental AG, Magna International Inc., Bühler Motor GmbH, ARADEX AG, Brose Fahrzeugteile GmbH & Co. KG., and Melrose Industries PLC.
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