A recent report published by Infinium Global Research on automotive electric drive axle market provides in-depth analysis of segments and sub-segments in the global as well as regional automotive electric drive axle market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automotive electric drive axle market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global automotive electric drive axle market. According to the report, the global automotive electric drive axle market is projected to grow at a CAGR of 35.79% over the forecast period of 2019-2025.
Leading automobile manufacturers including BMW and Audi are developing their fully electric cars. The cars incorporate electric axles, at the front as well as at the rear. Electric axles supply power to the wheel which is generated by the electric motors there itself, i.e. these axels do not need a shaft or transmission. Leading auto component manufacturers including Robert Bosch GmbH, Schaeffler Technologies AG & Co. KG, Dana Incorporated, BorgWarner Inc. and Continental AG has made their electric axles commercially available.
Increasing pollution levels due to emission for vehicles has made governments implement strict regulations to cut down on emissions. This, in turn, has obligated the automobile manufacturers to develop more electrically powered vehicles, which is the major factor driving the automotive electric drive axle market. The electric drive axle is a compact system consisting of components like power electronics, gear drive, and the electric motor, all in a single unit. Electric drive axles supply the power to the wheels generated by the electric motors. Electrification of vehicles improves their performance as the power is directly provided to wheels, which reduces the power loss. These benefits of vehicle electrification increase the demand for hybrid and electric vehicles, which consequently drives the growth of the automotive electric drive axle market. Moreover, people are becoming more aware of the rising pollution level, which is changing their buying behavior to more environmentally friendly products. This change of the mindset of the customers has increased the demand for hybrid and electric vehicles, which in turn boosts the growth of the automotive electric drive axle market. However, the high cost of implementation of the automotive electric drive axle system is projected to hamper the market. Nevertheless, increasing research and development activities by the key players in the market is expected to provide a boost to the automotive electric drive axle market in the future.
In terms of region, Asia-Pacific generated the highest revenue from the automotive electric drive axles, dominating the global market. The large share of the Asia-Pacific region attributed to stringent government regulations to curb the emission level and consequently high intake of electric vehicles in countries like China, Korea, and Japan. Europe held the second largest share in the global automotive electric drive axle market following the Asia-Pacific region. The significant share in the market attributes to the presence of major auto component manufacturers in the region and increasing awareness among the population regarding environment protection and electric vehicles.
The report on global automotive electric drive axle market covers segments such as type, end-users, and vehicle type. On the basis of type, the sub-markets include electric axle, and hybrid axle. On the basis of end-users, the sub-markets include OEM, and aftermarket. On the basis of vehicle type, the sub-markets include passenger vehicles, and commercial vehicles.
The report provides profiles of the companies in the market such as American Axle & Manufacturing, Inc., AxleTech International, LLC, ZF Friedrichshafen AG, Continental AG, Schaeffler Technologies AG & Co. KG, Robert Bosch GmbH, Dana Incorporated, BorgWarner Inc., Bonfiglioli Riduttori S.p.A., UQM Technologies Inc, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of automotive electric drive axle market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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