The global electric axle drive market size was estimated to be USD 27.2 billion in 2018, it is expected to reach USD 55.4 billion by 2028, registering a CAGR of 7.5% during the forecast period. The major factors driving the growth of this market are increased awareness about eco-friendly vehicles and government regulations related to emissions standards for passenger cars and commercial vehicles in various countries across the globe.
An electric axle drive is an electric motor installed in the rear or front end of a vehicle to replace conventionally powered axles. This system converts kinetic energy into electrical power for powering up wheels and transforms it back from electrical power to kinetic energy when braking, which helps increase fuel efficiency by reducing stopping distances. The conversion's speed-sensing torque converter opens automatically at low speeds during acceleration and closes again as soon as transmission reaches normal operating ranges so that all driving torque can be transmitted directly to the wheels without any slippage between engine and gearbox. The regenerative brake function reduces heat while increasing thermal capacity due to its cooling effect on the battery cells themselves (the same principle applied with solar panels).
On the basis of Type, the electric axle drive market is bifurcated into Live Axle Drive, Dead Axle Drive, and Tandem Axle Drive. The live axle drive type was used for a majority 73% of applications during 2016-2018 owing to their higher cost efficiency with regards to energy usage than dead types. Most of the electric axles used in public transportation are dead axle drives which can be attributed to greater reliability and lower costs than live axle drive systems.
A live axle is a type of automotive drivetrain which transmits power to the wheels through a non-articulated shaft with one or more universal joints. Live Axle systems provide better performance but they cost more than Dead Axle systems because of their complex design and higher maintenance costs. They also create high levels of noise pollution since power transmission takes place on absolute contact between engine and gearbox where there can be no slippage at all as long as the vehicle's speed remains below a certain threshold (usually low) during the acceleration phase.
Dead Axle Drives transmit power to the wheels through a non-articulated shaft with one or more universal joints. Like live axle system, they provide better performance but cost less than traditional Live axles because their design is comparatively simple and have lower maintenance costs. In contrast to dead systems which use "dead" center differential (that do not allow slippage), in some cases, there can be no mechanical connection between engine and gearbox as long as the vehicle's speed remains below a certain threshold during the acceleration phase and only electrical contact between them takes place. However, such a type of transmission increases the chance for electric shock occurrence if it touches any metal part on the chassis that carries current from the battery pack to other parts of a car.
Tandem Axle Drive is a type of axle drive system that transmits the torque to both axles on one side of the vehicle. In such systems, each live axle has its own engine and transmission gearbox but share the same final drives. In contrast with a tandem drive which transmits power through the front or rear differential, Tandem Axle Drive don't have any differential between them (instead they are connected only by coupling). These transmissions can be used in many types of vehicles including trucks where weight distribution across two driven wheels may provide better handling than trucks with just a single driving wheel arrangement. The electric axles used in public transportation are dead axle drives, while those used in off-road vehicles and heavy-duty trucks are often tandem.
On the basis of Application, the electric axles market is segmented into Passenger Cars, Light Commercial Vehicles, and Heavy Commercial vehicles. The passenger cars segment accounted for the largest share of 52% in 2018. This is due to technological advancements such as hybrid technology which has enabled vehicles to be more fuel-efficient by up to 40%. Electric axles are also being adopted widely on trucks because despite having drawbacks like high initial costs they offer much better performance than conventional axles. Examples of such drawbacks include the high battery weight and low power to torque ratio that leads to a long recharge time which can be as much as 12 hours.
The Passenger Cars segment accounted for the largest share in 2018 with 52% followed by Light Commercial Vehicle (25%), Heavy Commercial Vehicle (19%), and Others (14%). The demand for electric axles is expected to increase significantly over 2020-2028, primarily driven by passenger cars because there has been an increased focus on reducing emissions from vehicles through electrification strategies.
On the basis of Region, the market is segmented into Asia Pacific, Europe, North America and the Rest of the World. The market in the Asia Pacific is expected to experience considerable growth owing to the increasing demand for electric vehicles with low-emission engines and support from governments such as China that motivates companies to manufacture cars with low emission levels. Europe accounted for the second-largest share by region in 2018 because of stringent government regulations on fuel economy standards which will increase demand over time; these are particularly focused on heavy commercial vehicles (HCV). Countries such as France have been incentivizing manufacturers through financial incentives or tax reliefs under their new "Programme For Electromobility In Transport" initiative designed primarily around electrification strategies.
Up Market Research published a new report titled “Electric Axle Drive Market research report which is segmented by Types (Live, Dead, Tandem), By Applications (Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle), By Players/Companies Dana, ZF Friedrichshafen, GKN, American Axle & Manufacturing, Bosch, UQM Technologies”.
|Report Attributes||Report Details|
|Report Title||Electric Axle Drive Market Research Report|
|By Type||Live, Dead, Tandem|
|By Application||Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle|
|By Companies||Dana, ZF Friedrichshafen, GKN, American Axle & Manufacturing, Bosch, UQM Technologies|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||200|
|Number of Tables & Figures||140|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Live, Dead, Tandem and By Application Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle.
Some of the companies that are profiled in this report are:
Electric Axle Drive Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Electric Axle Drive Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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