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Worldwide Electric Axle Drive Systems Industry is Expected to Grow at Approximately 12.75% by 2023

Worldwide Electric Axle Drive Systems Industry is Expected to Grow at Approximately 12.75% by 2023

Electric Axle Drive Systems Market
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

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.

Electric Axle Drive Systems are drive systems that are majorly used in the electrical and hybrid electric vehicles. These systems are developed for all vehicle segments and for both front and rear wheel drives. The use of Electric Axle Drive Systems enables high flexibility and adaptation to suit various engines and transmissions. The electric axle drives also incorporate several drive components which increases safety and enable smooth drivability of vehicles.  The market is expected to reach USD 8.5 Billion by 2023 and is expected to grow at a CAGR of 12.75% during the forecast period.

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:

The key players of the Global Electric Axle Drive Systems Market are:

  • 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)

The electric axle drive systems are increasingly adopted in the road cars such as passenger vehicles and commercial vehicles. This generation of electric axle drive systems incorporate all components required for drive, deceleration, and driving safety like the electric motor, power electronics, controller, brake, and cooling system and are installed inside the wheel rim. The electric axle drive element also incorporate modular designs that can be adapted to suit the specific requirements of different vehicles. The axle drive systems also enable selective distribution of torque to the wheels, which increases driving dynamics and safety.

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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

The current trend in the electric axle drive systems is the ability to selectively distribute the torque to the wheels which further increases driving dynamics and safety. The Electric Axle Drive Systems have several advantages such as being environmental friendly, reduced noise incitation, central cooling systems and also integrated parking locks. The Electric Axle Drive Systems are also used in other electrical vehicles and hybrid vehicles such as electric bus, tractors and ground equipment’s. The introduction of electric axle drive systems will make electric cars accessible to the masses and develop future power trains for electric vehicles. 

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