The rear electric axle (e-axle) global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Rear Electric Axle (E-Axle) Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The rear electric axle (E-Axle) market size has grown exponentially in recent years. It will grow from $38.76 billion in 2023 to $47.24 billion in 2024 at a compound annual growth rate (CAGR) of 21.9%. The growth in the historic period can be attributed to the increasing adoption of electric vehicles, rise in environmental awareness, increasing government incentives for EVs, growth in urbanization, and increasing demand for autonomous vehicles.
The rear electric axle (E-Axle) market size is expected to see exponential growth in the next few years. It will grow to $104.82 billion in 2028 at a compound annual growth rate (CAGR) of 22.0%. The growth in the forecast period can be attributed to a growing focus on environmental sustainability, increasing investments in electric vehicle infrastructure, growing demand for energy-efficient transportation solutions, rising demand for cost-effective electric axle solutions, and rising demand for advanced vehicle control systems. Major trends in the forecast period include technological advancements, hybrid vehicles, modular electric axle systems, all-wheel drive systems, and advanced axle control systems.
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Scope Of Rear Electric Axle (E-Axle) Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Rear Electric Axle (E-Axle) Market Overview
Market Drivers –
The increasing adoption of electric vehicles is expected to propel the growth of the rear electric axle (E-axle) market going forward. Electric vehicles (EVs) are automobiles powered entirely or partially by electric energy stored in batteries rather than by internal combustion engines. The adoption of electric vehicles is driven by environmental concerns, supportive government policies, advancements in battery technology, and growing charging infrastructure. The rear electric axle is used in electric vehicles to integrate the electric motor, gearbox, and rear axle into a single unit, providing efficient propulsion, optimizing space, and enhancing handling and performance. For instance, in March 2023, according to the International Energy Agency, a France-based intergovernmental organization, the first quarter of 2023 saw the sale of almost 2.3 million electric vehicles or 25% more than during the same time the previous year. Therefore, the increasing adoption of electric vehicles drives the growth of the rear electric axle (E-axle) market.
Market Trends –
Major companies operating in the rear electric axle (E-Axle) market are focusing on developing innovative technologies, such as fully electric rear axle, to enhance vehicle performance, efficiency, and range in electric and hybrid vehicles. A fully electric rear axle, also known as an e-axle, is an integrated electric drive system designed to be mounted on the rear axle of a vehicle. This technology is commonly used in electric vehicles (EVs) and hybrid vehicles for propulsion. For instance, in September 2022, Volvo Trucks, a Sweden-based manufacturer of heavy-duty trucks, launched a new fully electric rear axle to extend the battery range. This innovative axle is engineered to provide an extended range, making it ideal for long-haul operations. Its advanced electric motor delivers high torque and smooth acceleration, ensuring a responsive driving experience while reducing energy consumption. The axle also integrates seamlessly with Volvo’s existing electric vehicle platform, offering enhanced energy regeneration capabilities that help maximize battery life.
The rear electric axle (e-axle) market covered in this report is segmented –
1) By Component: Combining Motors, Power Electronics, Transmission, Other Components
2) By Shaft Type: Single Axle, Multiple Axle
3) By Material: Alloys, Carbon Fiber
4) By Drive Type: All Wheel Type, Front Wheel Type, Rear Wheel Type
5) By Vehicle Type: Passenger Vehicle, Commercial Vehicle, Electric Vehicle
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Regional Insights –
Asia-Pacific was the largest region in the rear electric axle (E-axle) market in 2023. The regions covered in the rear electric axle (E-Axle) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the rear electric axle (E-Axle) market are Robert Bosch GmbH, Hitachi Automotive Systems Ltd., Daimler Trucks LLC, Volvo Trucks Corporation, ZF Friedrichshafen AG, Continental AG, Magna International Inc., Aisin Seiki Co., Ltd., PACCAR Inc., Cummins Inc., Nidec Corporation, Schaeffler AG, BorgWarner Inc., Dana Incorporated, Benteler International AG, Linamar Corporation, American Axle & Manufacturing Holdings Inc., NTN Corporation, GKN Automotive Ltd., Meritor Inc., AVL List GmbH, Automotive Axles Limited, JTEKT Corporation, AxleTech, Talbros Engineering Limited, J.K. Fenner India Ltd., Brist Axle Systems Srl LLC< /b>
Table of Contents
1. Executive Summary
2. Rear Electric Axle (E-Axle) Market Report Structure
3. Rear Electric Axle (E-Axle) Market Trends And Strategies
4. Rear Electric Axle (E-Axle) Market – Macro Economic Scenario
5. Rear Electric Axle (E-Axle) Market Size And Growth
…..
27. Rear Electric Axle (E-Axle) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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